Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — FY2022 Earnings Presentation
40 slides from Navin Fluorine International's earnings presentation, May 7, 2022
Slide 1: Padmanabh Mafatlal Group – Investor Presentation Q4 & FY 2021-22 cover letter
PADMANABH MAFATLAL GROUP Creating value. Sharing value. May 07, 2022 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towe rs, Exchange Plaza , Dala l Street, Fo rt , Band ra Kurla Comp lex, Bandra (East}, M umbai 400001 Mumbai 400051 Scrip Code: 532504 Symbol: NAVINFLUOR EQ D
Slide 2: Navin Fluorine International Limited – Investor Presentation May 2022
Navin Fluorine International Limited Growing responsibly Investor Presentation – May 2022
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: Sustainable Growth in Performance in FY22
Sustainable Growth in Performance in FY22 Growing responsibly
Slide 5: FY22 – Performance Highlights
FY22 – Performance Highlights Record revenues achieved in Operating Revenue +24% High Value Businesses Rs. 1403.6 crores 863 732 +18% Operating EBITDA YoY Highlights +14% Rs. 355.4 crores FY21 FY22 FY22 Margin at 25.3 % FY22 Revenue Contribution 61% Operating PBT +15% Contribution from Rs. 309.5 cro
Slide 6: Delivered strong Growth with Sustained margins
Delivered strong Growth with Sustained margins High Value Businesses Operating Revenue +23% Rs. 398.4 crores 207 247 + 20 % Operating EBITDA YoY Highlights + 14 % Q4FY21 Q4FY22 Rs. 95.8 crores Q4FY22 Margin at 24.0% Q4FY22 Revenue Contribution 62% Operating PBT + 15% Contribution from Rs. 84.0 crore
Slide 7: Sustainable Performance in FY22
Sustainable Performance in FY22 (Rs. Crs) Operating EBITDA High Value Businesses Legacy Businesses Total Revenue Margin 27.4% 25.3% 863 540 1,404 355 732 311 1,133 401 FY21 FY22 Operating PBT FY21 FY22 FY21 FY22 FY21 FY22 Margin 23.7% 22.1 % 310 Specialty Chemicals Sustainable growth Strong set of g
Slide 8: High Value and Legacy business grew sequentially
High Value and Legacy business grew sequentially (Rs. Crs) Operating EBITDA High Value Businesses Legacy Businesses Total Revenue Margin 26.0% 26.7% 24.0% 98 96 247 155 398 84 151 367 207 212 324 117 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 Operating PBT Ma
Slide 9: Business Vertical - Specialty Chemicals
Business Vertical - Specialty Chemicals Revenues (Rs. Crs) FY22 Highlights 159 566 131 453 Achieved record quarterly and annual revenues Strong pipeline of growth opportunities, especially in agrochemicals, driven by principles of 3P : Product, Q4FY21 Q4FY22 FY21 FY22 Platform & Partnership 49% Pric
Slide 10: Business Vertical - CRAMS
Business Vertical - CRAMS Revenues (Rs. Crs) FY22 Highlights 88 298 279 76 Achieved record annual sales in FY22 Q4FY21 Q4FY22 FY21 FY22 Focus on expanding project pipeline and further diversifying customer base 0% Debottlenecking of CGMP3 approved on the back of robust FY22 opportunity pipeline 100%
Slide 11: Business Vertical - Inorganic Fluorides
Business Vertical - Inorganic Fluorides Revenues (Rs. Crs) FY22 Highlights 71 274 59 193 Achieved record annual sales driven by pricing Q4FY21 Q4FY22 FY21 FY22 Good traction seen from end user segments especially in India 9% Optimized sales mix between Domestic & International market for better prof
Slide 12: Business Vertical - Refrigerant Business
Business Vertical - Refrigerant Business Revenues (Rs. Crs) FY22 Highlights 80 266 58 208 Growth in profitability was driven by significant price increase despite higher input costs Q4FY21 Q4FY22 FY21 FY22 Exports sales impacted due to higher logistics cost Sales into Non-emissive applications conti
Slide 13: Financial Performance
Financial Performance Growing responsibly
Slide 14: Standalone Profitability Statement
Standalone Profitability Statement Particulars (Rs. Crs.) Q4 FY22 Q4 FY21 Y-o-Y Change % Q3 FY22 Q-o-Q Change % FY22 FY21 Y-o-Y Change % Net Revenue from Operations 398.4 324.0 23% 367.0 9% 1,403.6 1,133.1 24% Raw Material 189.9 153.2 162.0 638.3 511.0 Employee Expenses 39.4 29.5 42.6 153.3 116.2 Ot
Slide 15: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crs.) 31-Mar-22 31-Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-22 31-Mar-21 Non-current assets 1023.6 861.4 EQUITY 1864.2 1650.1 Property, Plant and Equipment 372.9 347.8 Equity Share Capital 9.9 9.9 Capital work-in-progress 25.9 36.5 Other Equity 1854.3 1640
Slide 16: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (Rs Crs.) 31-Mar-22 31-Mar-21 (A) Cash flow from operating activities Profit before tax 347.0 409.5 Adjustments for noncash items 17.0 -64.7 Operating profit before working capital changes 364.0 344.8 Working capital adjustments -46.7 -67.6 Cash flows genera
Slide 17: Other Income Built-up
Other Income Built-up Q4 FY22 (Rs. Crs) Q4 FY21 (Rs. Crs) 14.12 19.70 -0.38 -0.60 18.30 -0.80 -1.69 12.05 Reported One Off Gain MTM Gain Adjusted Reported One Off Gain MTM Gain Adjusted Other Income Other Income Other Income other income * One-Off Gain is towards Sale of Investments On Standalone ba
Slide 18: Consolidated Profitability Statement
Consolidated Profitability Statement Particulars (Rs. Crs.) Q4 FY22 Q4 FY21 Y-o-Y Change % Q3 FY22 Q-o-Q Change % FY22 FY21 Y-o-Y Change % Net Revenue from Operations 408.9 336.4 22% 379.0 8% 1,453.4 1,179.4 23% Raw Material 196.7 160.7 168.2 665.6 537.4 Employee Expenses 47.3 36.9 46.9 181.5 141.7
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crs.) 31-Mar-22 31-Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-22 31-Mar-21 Non-current assets 1366.2 702.8 EQUITY 1844.2 1633.9 Property, Plant and Equipment 377.5 353.7 Equity Share Capital 9.9 9.9 Capital work-in-progress 742.1 94.9 Other Equity 1834.3 1
Slide 20: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (Rs Crs.) 31-Mar-22 31-Mar-21 (A) Cash flow from operating activities Profit before tax 344.2 357.8 Adjustments for noncash items 19.0 -12.4 Operating profit before working capital changes 363.2 345.4 Working capital adjustments -210.4 -125.5 Cash flows ge
Slide 21: Consistent Dividend Performance
Consistent Dividend Performance Dividend as % of Face Value Robust Dividend Payout Special Dividend 550% 550% 550% ✓ Continuous Dividend over 12 years Final of 150% Interim + ✓ Special Dividend of 600% on FV of Special 150% Dividend Rs. 10 in FY12 of 75% 390% 300% 300% + 350% ✓ Special Divided of 75
Slide 22: NFIL at glance
NFIL at glance Growing responsibly
Slide 23: NFIL at glance
NFIL at glance Manufacturing plants strategically located closer to major ports Strong Clientele base in India & abroad, including Global Innovators One of Largest Integrated Specialty Fluorochemical Company in India Over 50 years of expertise in Handling Fluorine Built “India’s only plant with high
Slide 24: Integrated Business Model
Integrated Business Model • Chemical Complex at Surat spread over • Backward integration for Raw material 135 acres, houses Refrigerant, Inorganic through 25% JV partner in the only Fluorides & Specialty Chemicals Plants Fluorspar beneficiation company in India • cGMP Compliant facility for CRAMS in
Slide 25: Our Delivery
Our Delivery Revenues (Rs. Crs) Revenue Contribution (%) FY2011 FY2022 1,404 Commenced Specialty Speciality Chemicals 27 % 40 % 11.3 % Chemicals in 2000 431 11Y CAGR Commenced CRAMS FY11 FY22 business in 2011 CRAMS 0% 21 % Net Profit (Rs. Crs) 266 Inorganic Fluorides 18 % 20 % 12.6 % Inorganic Fluor
Slide 26: Reinforcement of Trust
Reinforcement of Trust Delivering on the 3P Strategy (Product, Platform and Partnerships) through New Capex Programs $410 Mn Multi Year Contract in High Performance Product (HPP) Launch of new products in agrochemicals through Multi-Purpose Plant (MPP) Beginning of New Partnership in agrochemicals b
Slide 27: Capacity Expansion - High Performance Product (HPP)
Capacity Expansion - High Performance Product (HPP) Key Highlights Entered into a $410 million contract with Honeywell International Inc. for manufacture and supply of a High-Performance Product (HPP) in the fluorochemical space $410 Mn $61.5 Mn Project will be executed through wholly owned subsidia
Slide 28: Capacity Expansion - Multi-Purpose Plant (MPP)
Capacity Expansion - Multi-Purpose Plant (MPP) Other Key Points Rs. 195 crores Rs. 260 – 280 crores • Project will be executed through wholly owned subsidiary Navin Fluorine Advanced Sciences Limited Capex to be funded (NFASL) at Dahej in the state of Gujarat Expected peak by internal accruals annua
Slide 29: Multi year agreement - Agro-chemical fluoro-intermediate
Multi year agreement - Agro-chemical fluoro-intermediate Navin Fluorine signs Rs. 800 crores multi year agreement for supply of key agro-chemical fluoro-intermediate Rs. 800 crores 5 years Strengthen our Product Offerings Agreement Value Agreement Term Strengthen Customer Relationship Rs. 125 crores
Slide 30: New Capex - A New Fluoro Speciality Molecule
New Capex - A New Fluoro Speciality Molecule New Capacity addition to cater to multiple Rs. 540 crs Investment Capex to be funded through a mix of internal “ The project will strengthen the product offerings as well as key account relationship along with providing building blocks segments accruals a
Slide 31: Journey of Transformation continues…
Core Business Strategy Valuable and Presence into High- Customer’s clear Dependable demand specialized choice - Strong pillar Fluorochemical product basket of Partnership Company Increase share of our High Innovation & Change growth Investment In MPP (Multi Value Business (CRAMS & - Moving into the
Slide 32: ESG represents the cornerstone of our business
ESG represents the cornerstone of our business Growing responsibly
Slide 33: Our Approach to Sustainability
Our Approach to Sustainability Approach Environment Social Governance ✓ Robust Internal Controls ✓ Employees ✓ Controlled Growth ✓ Building resilience towards ✓ Customer and Vendors ✓ Balanced Approach climate change ✓ Community ✓ Board of Directors ✓ Reduce our impact on environment and nature ✓ Tr
Slide 34: Environmental Declarations
Environmental Declarations Environmental Declarations Environment Approach Adopted reduction at source as one of the Reduced per unit power consumption, which principles comprising a systematic approach translated into an estimated reduction of ~2.2 Our environment approach has been of recover, reus
Slide 35: Social Programme
Social Programme Social Programme Social Approach ✓ Structured induction programme for all ✓ Engaged in bonds with communities for better onboarded employees living; undertook 15 projects benefiting 31,500 ‘S’ comprises the role of people ✓ Trained around safety, health, technical and soft Harmoniou
Slide 36: Governance Best Practice
Governance Best Practice Governance Programme Composition of Committees Out of three Members of Nomination Structured policies and processes and Remuneration Committee, two addressed investor grievances were Independent and one Non- Reported NO Executive; ✓ Defaults for repayments, creditors, Accept
Slide 37: Board of Directors
Diversity of thought and experience Mr. Vishad Mafatlal Mr. Mohan Nambiar Mr. Pradip Kapadia Mr. Sunil Lalbhai Chairman Non-Executive Director Independent Director Independent Director He holds a Bachelor of Science Degree in He is a CA with vast experience of 57 years. He is an advocate and solicit
Slide 38: Balanced Board with Experience and Expertise
Balanced Board with Experience and Expertise Board Demographics meetings Board Independence during Highly FY2022 engaged 9 of 12 Board 17 Directors actively involved in NFIL’s 75% are Board Committee strategic transformation Independent 8 66 years median Board director's age Highly Experienced Board
Slide 39: Deepen respect for contribution to Societal Goals
Deepen respect for contribution to Societal Goals CHILD DEVELOPMENT 5.68 Crores Total CSR expenditure for the year ended March 31,2021 NFIL collaborated with Salaam Balak Trust, an NGO addressing the needs of This includes Rs. 2 Crores for PM cares and street children in Mumbai, covering child devel
Slide 40: Thank You Note
Thank You Note For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Orient Capital (a division of Link Group) CIN : L24110MH1998PLC115499 Ms. Payal Dave Mr. Basant Bansal +91 9819916314 Chief Financial Officer payal.dave@linkintime.co.in
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