Apar Industries Limited · NSE:APARINDS
Apar Industries — Q3 FY2023 Earnings Presentation
27 slides from Apar Industries's earnings presentation, Jan 31, 2023
Slide 1: Exchange cover letter for Investor Update / Earnings Call
SEC/3101/2023 January 31, 2023 National Stock Exchange of India Ltd. BSE Ltd. “Exchange Plaza”, Corporate Relationship Department, C-1, Block G, 27th Floor, Phiroze Jeejeebhoy Towers, Bandra- Kurla Complex, Dalal Street, Bandra (E), Fort, Mumbai – 400 051. Mumbai - 400 001. Scrip Symbol : APARINDS S
Slide 2: Earnings Call Update January 2023
EARNINGS CALL UPDATE January 2023
Slide 3: Q3 FY23: Volume-led strong growth across divisions
Q3 FY23: Volume-led strong growth across divisions; Profitability at 3x v/s LY Revenue EBITDA PAT 77% YoY 174% YoY 210% YoY INR 3,942 crores INR 349 crores INR 170 crores Margin at 8.8% up 310 bps YoY Margin at 4.3% up 180 bps YoY o Q3FY23 revenue up 77% YoY with volume-led growths across divisions
Slide 4: 9M FY23: Historically high revenue, margins and profitability
9M FY23: Historically high revenue, margins and profitability over 2x v/s LY Revenue EBITDA PAT 63% YoY 110% YoY 127% YoY INR 10,270 crores INR 825 crores INR 395 crores Margin at 8.0% up 180 bps YoY Margin at 3.8% up 100 bps YoY o 9MFY23 revenue up 63% YoY with growths coming in from all the three
Slide 5: Conductors: Q3 FY23 highlights
Conductors: Q3 FY23 highlights Revenue Volume EBITDA 103% YOY 99% YOY 410% YOY INR 1,912 crores 44,538 MT INR 227 crores INR 44 crore (Q3FY22) Margin at 11.9%; 4.7% (Q3FY22) EBITDA per MT EBITDA post adj* EBITDA* per MT 157% YOY 423% YOY 163% YOY INR 50,886 INR 222 crores INR 49,942 INR 19,835 (Q3FY
Slide 6: Conductors: 9M FY23 highlights
Conductors: 9M FY23 highlights Revenue Volume EBITDA 81% YOY 51% YOY 235% YOY INR 4,899 crores 1,10,642 MT INR 434 crores INR 130 crore (9MFY22) Margin at 8.9%; 4.8% (9MFY22) EBITDA per MT EBITDA post adj* EBITDA* per MT 123% YOY 238% YOY 125% YOY INR 39,232 INR 419 crores INR 37,900 INR 17,626 (9M
Slide 7: Speciality Oils & Lubricants: Q3 FY23 highlights
Speciality Oils & Lubricants : Q3 FY23 highlights Revenue Volume EBITDA 38% YOY 9% YOY 64% YOY INR 1,245 crores 1,26,731 KL INR 27 crores INR 74 crores (Q3FY22) Margin at 2.1%; 8.2% (Q3FY22) EBITDA per KL EBITDA post adj* EBITDA* per KL 67% YOY 73% YOY 76% YOY INR 2,099 INR 21 crores INR 1,646 INR 6
Slide 8: Speciality Oils & Lubricants: 9M FY23 highlights
Speciality Oils & Lubricants : 9M FY23 highlights Revenue Volume EBITDA 33% YOY 3% YOY 8% YOY INR 3,489 crores 3,55,450 KL INR 202 crores INR 220 crores (9MFY22) Margin at 5.8%; 8.4% (9MFY22) EBITDA per KL EBITDA post adj* EBITDA* per KL 11% YOY 17% YOY 20% YOY INR 5,692 INR 184 crores INR 5,190 INR
Slide 9: Lubricants: Q3 FY23 highlights
Lubricants : Q3 FY23 highlights Revenue Volume 20% YOY 11% YOY INR 238 crores 17,063 KL o Revenue is up by 20% in Q3 FY23 vs Q3 FY22 o Industrial volume is up 12% YoY, Automotive volume is up by 11% YoY Note: Above numbers are given only for analytical purpose. These numbers are already included in
Slide 10: Lubricants: 9M FY23 highlights
Lubricants : 9M FY23 highlights Revenue Volume 16% YOY 11% YOY INR 662 crores 51,276 KL o Revenue up 16% YoY driven by growth of industrial and automotive volumes o Industrial volume up 22% YoY , Automotive volume up 7% YoY Note: Above numbers are given only for analytical purpose. These numbers are
Slide 11: Cables: Q3 FY23 highlights
Cables : Q3 FY23 highlights Revenue EBITDA EBITDA post adj* 89% YOY 588% YOY 612% YOY INR 921 crores INR 109 crores INR 109 crores INR 16 crores (Q3FY22) INR 15 crores (Q3FY22) Margin at 11.8%; 3.3% (Q3FY22) Margin at 11.8%; 3.1% (Q3FY22) o Revenue close to 2x v/s LY due to significant increase in E
Slide 12: Cables: 9M FY23 highlights
Cables : 9M FY23 highlights Revenue EBITDA EBITDA post adj* 77% YOY 289% YOY 294% YOY INR 2,320 crores INR 233 crores INR 227 crores INR 60 crores (9MFY22) INR 58 crore (9MFY22) Margin at 10.0%; 4.6% (9MFY22) Margin at 9.8%; 4.4% (9MFY22) o Revenue up by 77% YoY due to significant increase in Elasto
Slide 13: Division-wise EBITDA to PAT 9M FY23
Division-wise EBITDA to PAT 9M FY23 Particulars Oil Conductor Cable Others Total EBITDA pre-open period forex (Note 1) 202 434 233 6 875 Open period forex (Note 2) 18 15 5 0 38 EBIDTA post open period forex 184 419 227 5 837 Finance cost (ex open period forex) net of Interest income 48 106 29 0 184
Slide 14: FY 2022: Consolidated Profit & Loss Statement
FY 2022: Consolidated Profit & Loss Statement Particulars FY22 FY21 % Chg YoY Gross sales 9,290.6 6,359.5 46% Other Operating Income 29.4 28.5 3% Total Operating Income 9,320.1 6,388.0 46% Total Expenditure 8,772.1 5,968.9 47% Cost of Raw Materials 7,207.8 4,800.1 50% Employees Cost 172.5 160.4 8% O
Slide 15: FY 2022: Consolidated Segment Analysis
FY 2022: Consolidated Segment Analysis Segment 2 FY22 FY21 % Chg YoY Revenue Conductors 4,203.9 2,908.0 44.6% Transformer & Specialty Oils 3560.4 2,363.8 50.6% Power & Telecom Cables 1993.7 1,269.5 57.0% Others/Unallocated 56.8 42.9 32.4% Total 9814.7 6584.2 49.1% Less: Inter - Segment Revenue 494.8
Slide 16: FY 2022: Consolidated Segment Analysis
FY 2022: Consolidated Segment Analysis Segment FY22 FY21 % Chg YoY Segment Results before Interest and Tax Conductors 162.8 68.0 139.4% Transformer & Specialty Oils 268.4 266.3 0.1% Power and Telecom Cables 79.8 32.8 143.3% Others/Unallocated 3.7 3.5 5.7% Total 514.6 370.6 38.9% Less : Finance costs
Slide 17: FY22: Financials
FY22: Financials Key Ratios FY22 FY21 EBITDA Margin 6.1% 6.6% Net Margin 2.8% 2.5% Total Expenditure/ Total Net Operating Income 94.1% 93.4% Raw Material Cost/ Total Net Operating Income 77.3% 75.1% Staff Cost/ Total Net Operating Income 1.8% 2.5% Other Expenditure/ Total Net Operating Income 14.9%
Slide 18: Q3 FY23: Consolidated Profit & Loss Statement
Q3 FY23: Consolidated Profit & Loss Statement Particulars Q3 FY23 Q3 FY22 % Chg YoY Q2 FY23 % Chg QoQ Gross sales 3,916.9 2,221.3 76.3% 3,215.8 21.8% Other Operating Income 25.5 7.6 237.1% 19.1 33.4% Total Operating Income 3,942.4 2,228.8 76.9% 3,234.9 21.9% Total Expenditure 3,595.7 2,113.1 70.2% 3
Slide 19: Q3 FY23: Consolidated Segment Analysis
Q3 FY23: Consolidated Segment Analysis Segments Q3 FY23 Q3 FY22 % Chg YoY Q2 FY23 % Chg QoQ Revenue Conductors 1,911.5 940.4 103.3% 1,438.90 32.8% Transformer & Specialty Oils 1,245.0 905.3 37.5% 1,175.80 5.9% Power & Telecom Cables 921.1 486.2 89.5% 761.60 20.9% Others/Unallocated 23.3 14.4 62.1% 2
Slide 20: Q3 FY23: Consolidated Segment Analysis
Q3 FY23: Consolidated Segment Analysis Segment Q3 FY23 Q3 FY22 % Chg YoY Q2 FY23 % Chg QoQ Segment Results before Interest and Tax Conductors 216.8 36.2 498.3% 113.3 91.31% Transformer & Specialty Oils 20.7 63.2 (67.2%) 51.6 (59.83%) Power and Telecom Cables 101.4 7.9 1,180.8% 63.8 59.00% Others/Una
Slide 21: Q3 FY23: Financials
Q3 FY23: Financials Key Ratios Q3 FY23 Q3 FY22 Q2 FY23 EBITDA Margin 8.9% 5.6% 7.4% Net Margin 4.3% 2.5% 3.2% Total Expenditure/ Total Net Operating Income 91.2% 94.8% 93.0% Raw Material Cost/ Total Net Operating Income 74.5% 77.5% 75.8% Staff Cost/ Total Net Operating Income 1.3% 2.0% 1.6% Other Ex
Slide 22: 9M FY23: Consolidated Profit & Loss Statement
9M FY23: Consolidated Profit & Loss Statement Particulars 9M FY23 9M FY22 % Chg YoY Gross sales 10,216.1 6,286.7 62.50% Other Operating Income 54.4 20.8 161.32% Total Operating Income 10,270.5 6,307.5 62.83% Total Expenditure 9,460.5 5,935.0 59.40% Cost of Raw Materials 7,726.8 4,863.6 58.87% Employ
Slide 23: 9M FY23: Consolidated Segment Analysis
9M FY23: Consolidated Segment Analysis Segment 9M FY23 9M FY22 % Chg YoY Revenue Conductors 4,898.7 2,700.5 81.40% Transformer & Specialty Oils 3,488.8 2,632.3 32.54% Power & Telecom Cables 2,320.5 1,311.1 76.99% Others/Unallocated 70.3 41.0 71.43% Total Revenue 10,778.2 6,684.8 61.23% Less: Inter -
Slide 24: 9M FY23: Consolidated Segment Analysis
9M FY23: Consolidated Segment Analysis Segment 9M FY23 9M FY22 % Chg YoY Segment Results before Interest and Tax Conductors 407.4 105.5 286.4% Transformer & Specialty Oils 184.8 203.5 (9.2%) Power and Telecom Cables 209.7 37.4 460.9% Others/Unallocated 5.0 2.5 104.1% Total 806.9 348.8 131.3% Less :
Slide 25: 9M FY23: Financials
9M FY23: Financials Key Ratios 9M FY23 9M FY22 EBITDA Margin 8.1% 6.3% Net Margin 3.9% 2.8% Total Expenditure/ Total Net Operating Income 92.1% 94.1% Raw Material Cost/ Total Net Operating Income 75.2% 77.1% Staff Cost/ Total Net Operating Income 1.5% 2.0% Other Expenditure/ Total Net Operating Inco
Slide 26: Market performance and shareholding structure
Market performance and shareholding structure APAR has been consistently outperforming market 270 220 234% 170 120 114% 103% 70 Jan-22 Jan-22 Mar-22 Apr-22 May-22 May-22 Jun-22 Jul-22 Aug-22 Sep-22 Oct-22 Nov-22 Dec-22 Apar Capital Goods Sensex Chart has been rebased to 100 As on December 31, 2022 O
Slide 27: Thank You
Mr. Sanjaya Kunder Mr. Ambesh Tiwari / Mr. Mohit Joshi Contact No : +91 22 67800400 Contact No : +91 84248 93404 / +91 99302 06777 E-mail – sr.kunder@apar.com E-mail – ambesh@s-ancial.com/ mohit@s-ancial.com Add: APAR house, Bldg no. 4 & 5, Corporate #215, Shiv Shakti Industrial Estate, 2Nd Floor, P