Upl Limited · NSE:UPL
Upl — H1 FY2020 Earnings Presentation
19 slides from Upl's earnings presentation, Nov 7, 2019
Slide 1: Consolidated Unaudited Results: Q2 & H1 FY2020
Consolidated Unaudited Results: Q2 & H1 FY2020 Investor Presentation: November 7, 2019
Slide 2: Safe Harbor Statement
Safe Harbor Statement This document contains certain forward-looking statements with respect to the financial condition, results of operations and business of UPL Limited (“UPL”) and certain of the plans and objectives of UPL with respect to these items. Examples of forward-looking statements includ
Slide 3: Q2 FY2020 Performance
Q2 FY2020 Performance 3
Slide 4: Financial Highlights: Q2 FY2020
Financial Highlights: Q2 FY2020 Revenue Growth 11% - consistently growing year-on-year EBITDA growth 11% - sustainable profitability Cash from Operations ₹ 1,034 Crs -Net of change in Working Capital 4
Slide 5: Proforma Financial Results: Q2 FY2020
Proforma Financial Results: Q2 FY2020 ₹ crore FY20 FY19 Change Particulars % Q-2 * % % Q-2 (Note 1) Total Revenue from operation 7,817 100% 7,066 100% 11% Variable Cost 4,546 3,916 16% Gross Margin 3,271 42% 3,150 45% 4% Fixed Overheads 1,730 1,766 -2% EBITDA 1,541 20% 1,384 20% 11% Note : 1) Previo
Slide 6: Proforma Sales Growth Analysis: Q2 FY2020
Proforma Sales Growth Analysis: Q2 FY2020 ₹ crore Overall Growth 11% 15% 4%7 % (1%) 7,758 Volume (3%) 7,013 Price Exchange Q2 FY2020 Q2 FY2019 CER 14% 6
Slide 7: Financial Results: Q2 FY2020
Financial Results: Q2 FY2020 ₹ crore FY20 FY19 Change Particulars Q-2 PPA / Q-2 * Q-2 * % % % Reported Integration (Note 1) (Note 2) Total Revenue from operation 7,817 - 7,817 100% 4,257 100% 84% Variable Cost 4,548 2 4,546 58% 2,406 57% Gross Margin 3,269 (2) 3,271 42% 1,851 43% 77% Fixed Overheads
Slide 8: Revenue by Region: Q2 FY2020
Revenue by Region: Q2 FY2020 Q-2 FY20 Q-2 FY19 * Change Regions ₹ Crores % ₹ Crores % ₹ Crores % Latin America 3,767 48% 3,031 43% 736 24% Europe 907 12% 898 13% 8 1% Rest of World 1,328 17% 1,381 20% (53) -4% North America 621 8% 630 9% (9) -1% India 1,195 15% 1,125 16% 70 6% Total 7,817 100% 7,066
Slide 9: Revenue by Region: Comments
Revenue by Region: Comments India Latin America Q-2 H1 Q-2 H1 Revenue Growth 6% -1% Revenue Growth 24% 25% % to Total 15% 15% % to Total 48% 39% • Good performance in Q2 with 6% growth Y-o-Y offsetting shortfall in Q1 • Strong performance in Q2 and H1 aided by sales synergies due to a more robust •
Slide 10: Working Capital Analysis: September 2019
Working Capital Analysis: September 2020 Sept. 2019 Sept. 2020 Days 10
Slide 11: Movement in Net Working Capital Days: UPL + Arysta
Movement in Net Working Capital Days: UPL + Arysta Q1 Q2 Q3 Q4 FY2019: Weighted Average (Proforma) 123 120 127 110 FY2020: Actuals 115 116 • Sharp drop in Q4 working capital days over Q3 • Quarter wise improvement over previous year 11
Slide 12: Summary of targeted cost and revenue synergies
Summary of targeted cost and revenue synergies ₹ crore Exit synergy Accrual Actioned Y1 YTD Y3 Y1 Target Actual Personnel 511 476 469 322 134 Non-Personnel 1,064 686 546 238 186 H1 FY2020 1,575 1,162 1,015 560 320 Q2 FY2020 190 ** Revenue synergies are tracking as per plan 12
Slide 13: H1 FY2020 Performance
H1 FY2020 Performance 13
Slide 14: Financial Highlights: H1 FY2020
Financial Highlights: H1 FY2020 Revenue Growth 9% - consistently growing year-on-year EBITDA growth 11% - sustainable profitability Cash from Operations ₹ 1,515 Crs -Net of change in Working Capital 14
Slide 15: Proforma Financial Results: H1 FY2020
Proforma Financial Results: H1 FY2020 ₹ crore FY20 FY19 Change Particulars H-1 PPA / H-1 H-1 % % ₹ Crores % Reported Integration (Note 1) (Note 2) Total Revenue from operation 15,723 15,723 100% 14,471 100% 1,252 9% Variable Cost 9,468 414 9,054 8,156 898 11% Gross Margin 6,255 (414) 6,669 42% 6,315
Slide 16: Proforma Sales Growth Analysis: H1 FY2020
Proforma Sales Growth Analysis: H1 FY2020 ₹ crore Overall Growth 9% 4%7 % 11% (1%) (1%) 15,617 14,372 Volume Price Exchange H1 FY2020 H1 FY2019 CER 10% 16
Slide 17: Financial Results: H1 FY2020
Financial Results: H1 FY2020 ₹ Crores FY20 FY19 Change Particulars H-1 PPA / H-1 H-1 % % % Reported Integration (Note 1) (Note 2) Total Revenue from operation 15,723 - 15,723 100% 8,391 100% 87% Variable Cost 9,468 414 9,054 58% 4,752 57% Gross Margin 6,255 (414) 6,669 42% 3,639 43% 83% Fixed Overhe
Slide 18: Revenue by Region: H1 FY2020
Revenue by Region: H1 FY2020 H-1 FY20 H-1 FY19 * Change Regions ₹ Crores % ₹ Crores % ₹ Crores % Latin America 6,167 39% 4,950 34% 1,217 25% Europe 2,539 16% 2,581 18% (43) -2% Rest of World 2,814 18% 2,765 19% 48 2% North America 1,816 12% 1,758 12% 58 3% India 2,388 15% 2,417 17% (29) -1% Total 15
Slide 19: Thank You
Thank You