Century Plyboards (india) Ltd. · NSE:CENTURYPLY
Century Plyboards (india) — FY2020 Earnings Presentation
30 slides from Century Plyboards (india)'s earnings presentation, Jun 26, 2020
Slide 1: Exchange filing cover letter
Date: 26th June, 2020 BSE Ltd. National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers Exchange Plaza, Bandra Kurla Complex, Dalal Street Bandra (E) Mumbai- 400 001 Mumbai- 400 051 Scrip Code: 532548 Scrip Name- Centuryply Dear Sir/ Madam Sub: Investor Presentation In terms of SEBI (Listing
Slide 2: Financial Results Update for the Quarter and Year ended 31 March 2020
Financial Results Update for the Quarter AND YEAR ended ST 31 MARCH, 2020
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Century Plyboards (India) Limited. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe fo
Slide 4: Contents
Contents Topics Page No. Key Highlights 1-3 Balance Sheet 4 Key Ratios 5 Working Capital Cycle 6 Profit & Loss - Summary 7-8 Plywood - Volumes & Financials 9 - 10 Laminates - Volumes & Financials 11 - 12 MDF - Volumes & Financials 13 - 14 Particle Board - Volumes & Financials 15 - 16 Logistics (CFS)
Slide 5: Key Highlights
KEY HIGHLIGHTS Results for Q4 were adversely impacted due to Covid-19 impact and resulting countrywide lock down in later part of March, 2020. Last two weeks of March, being year end, were crucial because all dealers procure maximum volume to meet their yearly targets, entitling them annual turnover
Slide 6: Key Highlights – continued
KEY HIGHLIGHTS – continued On Balance sheet front company’s net worth including share capital of Rs. 22.25 Crore stood at Rs 1,073.38 Cr. Total Debt excluding current maturities stood at 188.81 Cr against 468.23 crores on 31st March 2019 Despite liquidity crunch in the market working capital cycle i
Slide 7: Key Highlights – continued
KEY HIGHLIGHTS – continued MDF MDF revenue saw a jump of almost 19% from 295.35 crores in 18-19 to over 350.52 crores in 19-20. EBITDA margins improved significantly from 13% to 24.7% in 19-20. We have reached to almost optimum capacity of MDF and need further capacity for growth of MDF segment. Our
Slide 8: Balance Sheet
BALANCE SHEET Rs. Crores PARTICULARS 2014 2015 2016 2017 2018 2019 2020 Net Worth (Including Share Capital -22.25 Cr) 291.41 387.58 525.05 708.63 837.95 969.12 1,073.38 Debt - Long Term Debt (Excl Current Maturities) - FCY 53.64 35.68 38.61 78.74 96.44 72.29 51.50 - Long Term Debt (Excl Current Matu
Slide 9: Key Ratios
KEY RATIOS KEY RATIOS 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Return on Avg Equity (ROAE) (%) 24.74% 44.42% 37.21% 30.08% 20.26% 17.58% 15.49% Return on Avg Capital Employed (ROACE) (%) 16.59% 26.68% 26.34% 22.89% 17.21% 17.88% 17.60% Total Outside Liabilities to Net Worth (TOL/TNW)
Slide 10: Working Capital Cycle
WORKING CAPITAL CYCLE RATIOS UNIT 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 Net Sales for the Period In Rs Cr 1,283.97 1,564.81 1,635.69 1,782.46 1,967.22 2,263.83 2,282.68 Debtor In Rs Cr 204.63 268.14 286.76 335.27 314.46 293.55 258.16 Annualized Debtor Days (A) 58 63 64 69 58 47 41
Slide 11: Profit & Loss - Summary
PROFIT & LOSS - SUMMARY Annual Growth % Quarter Growth % Sl PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 Vs 17 17 vs 18 18 vs 19 18 vs 19 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET TURNOVER In Rs Cr 1,624.10 1,773.14 1,953.11 2,247.62 2,270.24 9.2% 10.1% 15.1% 1.0% 591.82 521.20 579.14 -1
Slide 12: Profit & Loss – Summary (continued)
PROFIT & LOSS – SUMMARY-cont. Annual Growth % Quarter Growth % Sl PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 15 Vs 16 16 Vs 17 17 vs 18 18 vs 19 Dec '19 Mar '20 Mar '19 QoQ YoY J1 EBIT (E1 - I) In Rs Cr 246.27 262.33 231.69 256.44 247.63 6.5% -11.7% 10.7% -3.4% 32.59 53.91 52.27 65.4%
Slide 13: Plywood – Volume Details
PLYWOOD – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A VOLUME A1 -Plywood CBM 1,89,117 1,97,474 2,08,382 2,20,442 2,20,813 4.4% 5.5% 5.8% 0.2% 57,736 50,567 54,536 -12
Slide 14: Plywood – Financial Details
PLYWOOD – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET TURNOVER In Rs Cr 1,173.51 1,260.93 1,263.30 1,273.39 1,230.99 7.4% 0.2% 0.8% -3.3% 321.89 278.52 322.54
Slide 15: Laminates – Volume Details
LAMINATES – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A VOLUME A1 - Laminates NOS. 42,60,499 49,25,024 54,06,918 58,58,029 61,61,428 15.6% 9.8% 8.3% 5.2% 15,45,486 14
Slide 16: Laminates – Financial Details
LAMINATES – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET TURNOVER In Rs Cr 335.30 363.57 369.95 432.19 454.58 8.4% 1.8% 16.8% 5.2% 112.51 103.69 120.67 -7.8% -
Slide 17: MDF – Volume Details
MDF – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 VS 19 19 VS 20 Dec '19 Mar '20 Mar '19 QoQ YoY A VOLUME A1 PLAIN MDF CBM - - 48,307 1,15,563 1,30,989 - - 139.2% 13.3% 35,807 31,829 30,751 -11.1% 3.5% A2 PRELAM MDF
Slide 18: MDF – Financial Details
MDF – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET REVENUE - EXTERNAL SALES In Rs Cr - - 112.80 295.13 350.38 - - 161.6% 18.7% 96.47 84.42 75.99 -12.5% 11.1% A
Slide 19: Particle Board – Volume Details
PARTICLE BOARD – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A VOLUME A1 PLAIN PARTICLE BOARD CBM - 13,141 23,808 25,916 28,340 - 81.2% 8.9% 9.4% 8,370 7,338 5,318 -12.
Slide 20: Particle Board – Financial Details
PARTICLE BOARD – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET REVENUE - EXTERNAL SALES In Rs Cr - 16.48 26.32 28.42 31.58 - 59.7% 8.0% 11.1% 9.46 8.10 5.72 -14
Slide 21: Logistics (CFS) – Volume Details
LOGISTICS (CFS) – VOLUME DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A VOLUME A1 - CFS TEUs 82,057 80,153 80,936 69,055 59,904 -2.3% 1.0% -14.7% -13.3% 15,176 13,253 14,683 -1
Slide 22: Logistics (CFS) – Financial Details
LOGISTICS (CFS) – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET TURNOVER (EXCLUDING INTER-SEGMENT) In Rs Cr 83.73 87.61 99.32 99.18 86.26 4.6% 13.4% -0.1% -13.0
Slide 23: Others – Financial Details
OTHERS – FINANCIAL DETAILS Annual Growth % Quarter Growth % SL PARTICULARS UNIT 2015-16 2016-17 2017-18 2018-19 2019-20 16 vs 17 17 vs 18 18 vs 19 19 vs 20 Dec '19 Mar '20 Mar '19 QoQ YoY A1 NET TURNOVER (EXCLUDING INTER-SEGMENT) In Rs Cr 54.29 41.17 34.79 50.24 48.92 -24.2% -15.5% 44.4% -2.6% 14.13
Slide 24: Capex Details
CAPEX DETAILS Rs. Crores Budgeted 2014-15 to Particulars 2018-19 2019-20 2020-21 Total Cost 2017-18 MDF 380.00 335.62 13.65 4.82 - 354.09 Plywood at Punjab * 64.00 - - - - Particle Board 67.73 60.53 - - 60.53 Laminate 62.50 48.05 15.62 9.72 - 73.39 Gabon - Veneer Unit 30.00 - 5.89 10.19 8.92 25.00 S
Slide 25: Term Loan Projection
TERM LOAN PROJECTION Rs. Crores PARTICULARS 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2022-23 2023-24 OPENING - ECB 55.86 61.03 97.88 118.15 102.81 78.67 54.71 30.75 6.80 - Buyer's Credit - PB & Others - - 9.60 11.61 - - - - - - Buyer's Credit - MDF - - 73.67 82.12 41.09 - - - - - Rupe
Slide 26: Fund Flow Statement
FUND FLOW STATEMENT Rs. Crores SUMMARY FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 OPENING CASH/CASH EQUIVALENT 79.74 18.04 17.03 19.04 53.84 16.51 22.61 ADD OPERATIONAL CASH INFLOW 36.62 160.89 220.40 210.82 158.11 260.02 212.28 LESS DIVIDEND PAYMENTS 5.72 45.96 60.09 0.00 26.74 26.74 5
Slide 27: Fund Flow Statement - continued
FUND FLOW STATEMENT - continued Rs. Crores LONG TERM CASH FLOW FY 2014 FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020 INFLOWS Long Term Borrowings - Rupee Term Loan & Finance Lease 0.00 7.14 5.38 65.34 20.50 4.27 0.00 - Foreign Currency Loan 0.00 0.00 23.08 66.56 38.98 0.00 0.00 - Buyers Credit 2.6
Slide 28: Forex Exposure
FOREX EXPOSURE 2019 vs 2020 PARTICULARS 31.03.2016 31.03.2017 31.03.2018 31.03.2019 31.03.2020 Diff Diff % AVERAGE FOREX BOOKING RATES @ Rs. - USD 64.17 67.61 64.96 64.04 72.94 8.90 14% - EURO 71.99 74.48 75.26 81.73 80.61 (1.12) -1% FOREX REINSTATEMENT RATES @ Rs. - USD 66.33 64.84 65.04 69.17 75.3
Slide 29: Summary – Consolidated Financials
SUMMARY – CONSOLIDATED FINANCIALS SUBSIDIARIES Ara, Century Consoli- Century Ply Ara,Arham Particulars Auro Auro - Century Singapore Arham, Century Infotech Century Century Gabon & dated Standalone , Apnapan, Sundaram NCI Singapore NCI Adonis, Infotech NCI Myanmar MDF Century Total Adonis Apn, NCI P
Slide 30: Thank You
Thank You For Further Information please contact : Abhishek Rathi +91 33 3041 4522 +91 98300 40887 abhishek.rathi@centuryply.com
Century Plyboards (India) — FY2020 Earnings Presentation on 6ix