Bodal Chemicals Limited · NSE:BODALCHEM
Bodal Chemicals — Q4 FY2020 Earnings Presentation
36 slides from Bodal Chemicals's earnings presentation, Jul 6, 2020
Slide 1: Bodal Chemicals Ltd. – Stock exchange submission letter
Bodal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. By Online Submission Sec/20-21/26 Date: 06/07/2020 To, To, The General Manager, The General Manager, BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J. Tower, Plot no. C/1, G Block,
Slide 2: Quarterly Performance Q4FY2019-20 & FY2019-20
Quarterly Performance Q4FY2019-20 & FY2019-20 6th July 2020
Slide 3: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Bodal Chemicals’ future business developments and economic performance. W
Slide 4: Company Profile
i. Bodal Chemicals Ltd. Company Profile
Slide 5: History of Bodal Chemicals Ltd (Bodal)
History of Bodal Chemicals Ltd (Bodal) ▪ Bodal was incorporated in 1989 by Mr. Suresh Patel, a first-generation entrepreneur. Bodal commenced its operations by setting up small Vinyl Sulphone plant at Ahmedabad (Gujarat). ▪ At present there are three sub - segments of Products: ✓ Dye Intermediates (
Slide 6: History of Bodal Chemicals Ltd (Bodal)
History of Bodal Chemicals Ltd (Bodal) ▪ Bodal has strong presence across the globe. At present Bodal exports around 45% of its sales to 150+ customers in more than 45 countries. ▪ Bodal has six subsidiaries: 1. Trion Chemicals Pvt. Ltd. (TCPL) – 100% holding 2. S P S Processors Pvt. Ltd. (SPS) – 70
Slide 7: Timeline
Timeline 2006 Listed on BSE-reverse merger 2017 with Dintex Dye Chem (Unit I) Acquired 70%: SPS Processors (Zero Discharge) Acquired stake in Trion Chemicals, TCCA specialist (Zero 2006 Discharge) Acquired Unit IV 2018 2007 Dyestuff expansion by 12,000MTPA, Started building Unit VII Addition of 5MW
Slide 8: Integrated Business Model
Bodal Chemicals Ltd. Integrated Business Model
Slide 9: Manufacturing Value Chain
Input Materials – part/full in-house Manufacturing Value Chain Input Materials – external Bodal Chemicals Products End use industries End Use Input Materials Basic Chemicals Dye Intermediates Dyestuff Trion Chemicals Industry Water Vinyl Sulphone + Derivatives Reactive Dyes Textiles Para Nitro Anili
Slide 10: Quarterly Performance
i. Bodal Chemicals Ltd. Quarterly Performance
Slide 11: Q4FY20 Performance
Q3FY20 Performance Q4FY20 Performance Operational Highlights ➢ For Q4FY20, Dyestuff production grew by 2% YoY and Basic Chemicals production grew by 9% YoY mainly due to increase in capacities. Dye Intermediates production grew by 8% YoY in Q4FY20. ➢ Production at Thionyl Chloride plant has picked u
Slide 12: Financial – Standalone Basis
Q3FY20 Performance Financial – Standalone Basis (Rs. million) Particulars Q4FY20 Q4FY19 YoY (%) Revenue from operations 3,314 3,206 3% Other income 45 81 -44% Total Income 3,359 3,288 2% Raw materials consumed 2,054 2,147 -4% Employee benefits 260 106 145% Other expenses 582 520 12% Total expenses 2
Slide 13: Revenue Breakup
Q3FY20 Performance Revenue Breakup Breakup (Standalone) Sub-Segment Others Q4FY2020 Basic Q4FY2019 Others By Sub-Segment Basic 10% Chemicals 1% Chemicals 14% Segment 10% Dye Dye Intermediates Intermediates 41% Dyestuff 48% Dyestuff ByBy 39% 37% Q4FY2019 Q4FY2020 By Geography By Geography Export Expo
Slide 14: Financial Highlights - Standalone
Q3FY20 Performance Financial Highlights - Standalone Total Income (Rs. Million) EBITDA (Rs. Million) and Margin (%) Sub-Segment 15.7% 13.8% By Sub-Segment 515 3,359 462 3,288 Segment ByBy Q4FY19 Q4FY20 Q4FY19 Q4FY20 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Ma
Slide 15: Yearly Performance
Yearly Performance i. Bodal Chemicals Ltd. 14
Slide 16: FY20 Performance
Q3FY20 Performance FY20 Performance Operational Highlights ➢ For FY20, Dyestuff production grew by 2% YoY and Basic Chemicals production grew by 5% YoY mainly due to increase in capacities. Dye Intermediates production was flat YoY. ➢ Share of Dyestuff revenues have increased to 44% of sales in FY20
Slide 17: Financial – Standalone Basis
Q3FY20 Performance Financial – Standalone Basis (Rs. million) Particulars FY20 FY19 YoY (%) Revenue from operations 12,124 13,794 -12% Other income 194 147 32% Total Income 12,318 13,940 -12% Raw materials consumed 7,644 8,757 -13% Employee benefits 777 592 31% Other expenses 2,316 2,115 10% Total e
Slide 18: Revenue Breakup
Q3FY20 Performance Revenue Breakup Breakup (Standalone) Sub-Segment Others Others Basic FY20 FY19 By Sub-Segment Basic 6% 4% Chemicals Chemicals Segment 11% 12% Dye Dye Intermediates Intermediates 39% Dyestuff 48% Dyestuff ByBy 36% 44% FY20 FY19 By Geography By Geography Export Export 41% 44% Domest
Slide 19: Financial Highlights - Standalone
Q3FY20 Performance Financial Highlights - Standalone Total Income (Rs. Million) EBITDA (Rs. Million) and Margin (%) Sub-Segment 17.8% By Sub-Segment 13,940 2,477 12,318 Segment 12.8% 1,580 ByBy FY19 FY20 FY19 FY20 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Marg
Slide 20: Consolidated Performance
Consolidated Performance 19
Slide 21: Consolidated Financials
Q3FY20 Performance Consolidated Financials Subsidiaries (Rs. million) Q4FY20 Particulars SPS Trion BCTPL BCL-China Sener Total Income 249 6 14 0 254 EBITDA 11 (15) (0) (1) 20 PAT (12) (28) (2) (1) 1 Consolidated Financials (Rs. million) Quarterly Yearly Particulars Q4FY20 Q4FY19 FY20 FY19 Operationa
Slide 22: Balance sheet Analysis
Balance sheet Analysis i. Bodal Chemicals Ltd. 21
Slide 23: Leverage – Standalone
Q3FY20 Performance Leverage – Standalone Particulars (Rs. Million) 31-Mar-20 30-Sep-19 31-Mar-19 Net Debt to Equity (x) Short Term Borrowings 1,612 1,627 655 Long Term Borrowings 0 0 8 0.17x Total Debt 1,612 1,627 663 Less: Cash & Cash Equivalents 166 85 142 Net Debt / (Net Cash) 1,446 1,542 521 0.1
Slide 24: Working Capital Analysis– Standalone
Q3FY20 Performance Working Capital Analysis– Standalone Working Capital 31-Mar-20 30-Sep-19 31-Mar-19 i) Inventories 1,855 1,950 1,851 ii) Trade Receivables 2,942 1,952 2,204 iii)Trade Payables 1,949 1,500 1,926 Net Working Capital (i+ii-iii) 2,848 2,403 2,130 89 86 76 61 61 58 59 56 56 49 47 51 Inv
Slide 25: Segment Wise Data
Segment Wise Data i. Bodal Chemicals Ltd. 24
Slide 26: Sale of Products
Q3FY20 Performance Sale of Products (Rs. million) Geography- wise Revenues Q4FY20 % Share Q4FY19 % Share YoY (%) Domestic 2,356 71% 1,950 62% 21% Export 965 29% 1,177 38% -18% Total 3,321 100% 3,127 100% 6% Sub-Segment-wise Revenues Q4FY20 % Share Q4FY19 % Share YoY (%) Dye Intermediates 1,344 40% 1
Slide 27: Production Data
Q3FY20 Performance Production Data Production MT Q4FY20 Q4FY19 YoY (%) Dyestuff 5,004 4,886 2% Dyes Intermediates 6,834 6,342 8% Basic Chemicals 53,503 48,917 9% Production MT FY20 FY19 YoY (%) Dyestuff 18,890 18,588 2% Dyes Intermediates 23,898 23,674 1% Basic Chemicals 1,98,732 1,88,534 5% 26
Slide 28: Impact of Covid-19
Impact of Covid-19 Bodal Chemicals Ltd. 27
Slide 29: Impact of COVID-19 lockdown on business
Impact of COVID-19 lockdown on business ▪ The impact of Covid-19 on Q4FY20 performance was mainly during the last 10 days of March 2020 in terms of disruption in production and dispatches impacting the sales of the company. The demand sentiment was low since beginning of March 2020 due to rise of CO
Slide 30: Management Comments
Management Comments i. Bodal Chemicals Ltd. 29
Slide 31: Management Comments
Management Comments ▪ Total production for Q4FY20 improved by 9% to 65,341 MT YoY. During the quarter, Dye Intermediates production improved by 8% YoY mainly due to higher demand and Basic Chemicals production improved by 9% YoY due to addition of Thionyl Chloride plant. Total production during FY20
Slide 32: Management Comments
Management Comments ▪ Working capital of the company was higher in FY20 due to higher Dyestuff business and increase in receivables in March 2020 due to COVID-19. However, collections have been strong during June 2020 and we expect it to normalize gradually in coming quarters. ▪ We acquired 100% sta
Slide 33: Shareholding Data
Bodal Chemicals Ltd. Shareholding Data
Slide 34: Shareholding Data
Q3FY20 Performance Shareholding Data Shareholding Pattern – March 2020 31.4% Promoter & Promoter Group Mutual Funds 58.3% Foreign Portfolio Investors Others 4.8% 5.6% Share Data Points Share Price Performance 125 Share Price (Rs) 62 105 85 Market Capitalization (Rs mn) 62.3 7,612 65 45 52 week - Hig
Slide 35: Q4FY20 Conference Call
Q4FY20 Conference Call Management will discuss results of Q4FY20 and Outlook on a conference call on 6th July 2020 at 4.00 PM IST. The conference call dial-in numbers are: Primary number: +91-22-6280-1106 / +91-22-7115-8007 Local access number: +91-70456-71221 The numbers listed above are universall
Slide 36: Thank You
Thank You For any queries, please contact: Meet Chande Mayur Padhya IR, Bodal Chemicals Ltd. CFO, Bodal Chemicals Ltd. ir@bodal.com mayur@bodal.com Ph: +91 79 6816 0100 +91- 99099 41324 35