Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q4 FY2021 Earnings Presentation
34 slides from Ifgl Refractories's earnings presentation, Jun 8, 2021
Slide 1: Disclosure under Regulation 30 cover letter
8th June, 2021 National Stock Exchange of India Ltd BSE Limited ‘Exchange Plaza’, C-1, Block – G Phiroze Jeejeebhoy Towers Bandra – Kurla Complex Dalal Street Bandra (E), Mumbai 400 051 Mumbai 400 001 CODE: IFGLEXPOR CODE: 540774 Dear Sirs, Re: Disclosure under Regulation 30 of SEBI (Listing Obligat
Slide 2: Investor Presentation – Q4FY21
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q4FY21 June 2021
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: Our Performance
Our Performance
Slide 5: FY21 Performance Snapshot
FY21 Performance Snapshot Strong Standalone & Consolidated Performance Achieved a significant milestone of surpassing Rs. 1,000 Crores of Total Income in a year in FY21 Highest Ever Highest Ever Rs. 655.8 Crores Rs. 1,042.5 Crores Standalone Consolidated Total Income Up 29% YoY Total Income Up 12% Y
Slide 6: Q4FY21 Performance Snapshot
Q4FY21 Performance Snapshot Strong Standalone & Consolidated Performance Standalone Rs. 176.8 Crores Consolidated Rs. 287.9 Crores Total Income Up 50% YoY Total Income Up 28% YoY Standalone Rs. 37.1 Crores Consolidated Rs. 48.5 Crores EBITDA Up 111% YoY EBITDA Up 111% YoY Standalone Rs. 10.7 Crores
Slide 7: One Time Tax Impact on account of Goodwill
One Time Tax Impact on account of Goodwill Consolidated Profit & Loss [Rs. Crs.] Q4FY21 FY21 Profit After Tax Impacted by deferred tax liability ▪ As per amendments by Finance Act, 2021, Goodwill on amalgamation is no longer a Total Income 287.9 1042.5 depreciable asset and depreciation on goodwill
Slide 8: FY21 Standalone Financial Highlights
FY21 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +29% +83% +640 bps 655.8 143.0 21.8% 506.7 15.4% 78.1 FY20 FY21 FY20 FY21 FY20 FY21 Adjusted Profit After Tax [Rs. Crs.] Adjusted PAT margin [%] +400 bps +119% 9.9% 65.0 5.9% 29.7 FY20 FY21 FY20 FY21 7
Slide 9: Q4 & FY21 Standalone Profit & Loss
Q4 & FY21 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q4FY21 Q4FY20 Y-o-Y% Q3FY21 Q-o-Q% FY21 FY20 Y-o-Y% Total Income 176.8 117.8 50% 181.6 -3% 655.8 506.7 29% Raw Material 83.7 55.5 81.0 304.0 256.2 Employee Expenses 12.4 11.4 14.6 51.8 44.3 Other Expenses 43.6 33.2 42.9 157.2 128.2 EBITDA 3
Slide 10: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Mar-21 Mar-20 Equity & Liabilities (in Rs. Crs ) Mar-21 Mar-20 Non current Assets 318.7 328.9 Equity 559.1 514.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 77.6 80.7 Other Equity 523.1 478.0 Right to Use Asset 15.6 16.2 Capital WIP 1
Slide 11: FY21 Consolidated Financial Highlights
FY21 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +12% +72% +580 bps 1,042.5 175.9 16.9% 928.3 11.0% 102.5 FY20 FY21 FY20 FY21 FY20 FY21 Adjusted Profit After Tax [Rs. Crs.] Adjusted PAT margin [%] +390 bps +114% 8.2% 85.8 4.3% 40.1 FY20 FY21 FY20 FY2
Slide 12: Q4 & FY21 Consolidated Profit & Loss
Q4 & FY21 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q4FY21 Q4FY20 Y-o-Y% Q3FY21 Q-o-Q% FY21 FY20 Y-o-Y% Total Income 287.9 225.3 28% 299.7 -4% 1042.5 928.3 12% Raw Material 132.8 107.3 135.8 474.0 459.1 Employee Expenses 39.0 37.3 40.1 151.8 150.5 Other Expenses 67.7 57.7 64.2 240.8 216.2
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Mar-21 Mar-20 Equity & Liabilities (in Rs. Crs ) Mar-21 Mar-20 Non current Assets 456.4 461.6 Equity 890.5 809.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 147.6 152.3 Other Equity 854.5 772.9 Right to Use Asset 20.3 22.0 Capital W
Slide 14: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 19.43 25.88 17.09 24.83 2.34 2.31 1.07 1.74 0.80 1.61 Revenue -1.00 FY20 FY21 -1.36 EBITDA FY20 FY21 PAT Hofmann Ceramic [Euro mn] 7.87 Performance of overseas subsidiaries has 6.46 witnessed sharp improvement during 0.56 FY21. US an
Slide 15: Ongoing Capex to boost performance
Ongoing Capex to boost performance ➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking 1 IFGL Odisha Plant by FY22 ➢ Expansion phase – I completed in FY 20 2 IFGL Kandla Plant ➢ Further cost of Rs. 10 Cr by H1FY22. Work in full swing ➢ 10-acre Land acquired for manufacturing of New products including
Slide 16: Consistently performing over the years
Consistently performing over the years… Particulars [Rs. Crs.] FY17 FY18 FY19 FY20 FY21 Total Income 769.5 839.7 955.4 928.3 1,042.5 Materials consumed 362.0 421.4 477.0 459.1 474.0 Employee Expenses 120.9 126.7 146.2 150.5 151.8 Other Expenses 183.5 181.3 218.5 216.2 240.8 EBITDA 103.1 110.3 113.8
Slide 17: …to create sustainable value for Shareholders
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 112.5 321.9 27.9 17.7 84.0 89.4 204.5 52.0 51.6 134.2 -44.8 94.8 56.0 -152.4 -270.3 Net Debt : Equity [x]
Slide 18: …with consistent Payout
…with consistent Payout 100.0% With strong results and positive outlook ahead, the Board of Directors has recommended dividend of Rs. 4 per share and special dividend of Rs. 6 per 25.0% 25.0% share totalling to Rs. 10 per 20.0% 20.0% 20.0% share for FY21 subject to shareholders approval FY16 FY17 FY
Slide 19: Industry Overview
Industry Overview
Slide 20: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +4.2% +7.0% +7.7% 1,772 1,874 1,925 849 890 478 503 777 434 2020 2021F 2022F 2020 2021F 2022F 2020 2021F 2022F ➢ Global outlook: ▪ As per WSA, the current forecast assumes that the ongoing second or third waves
Slide 21: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2020 2021F 2022F +4.2% 1,925 1,874 1,772 +3.4% 1,392 1,364 1,303 +7.5% +6.1% 141 155 162 +3.3% 114 123 128 +7.4% +11.4% +7.2% +4.4% 39 43 45 36 42 45 36 39 41 46 49 50 58 60 62 USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania World
Slide 22: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2020 2021F 2022F +2.0% 1,024.9 1,035.1 995.0 +12.6% +6.2% 106.1 112.3 +5.7% +3.8% 88.5 80.0 86.5 90.2 52.6 56.0 58.8 49.0 51.5 52.8 China India United States Japan South Korea Source: World Steel Association ➢ India outlook: ▪ India had implemented one of the st
Slide 23: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 24: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 25: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 26: Emerging Opportunities for Indian Market
Emerging Opportunities for Indian Market AATMANIRBHAR BHARAT ❑ AATMANIRBHAR BHARAT is the vision of the Government to make India a self-reliant nation. PM Modi has promoted “Vocal about Local” campaign which promotes Indian Companies to lead India to become self reliant ❑ Self-reliant India will ens
Slide 27: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 28: About Us
27 About Us
Slide 29: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 28
Slide 30: Corporate Structure
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% Plants at Kalunga, Odisha, India IFGL Worldwide Holdings Limited + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Hofmann Monocon Group EI Ceramics Ceramic Upcoming Plant at Visakhapatna
Slide 31: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. P. Bajoria Mr. Kamal Sarda Chairman Managing Director Director & Chief Financial Officer • Promoter of S K Bajoria Group based at • Associated with IFGL from the very early days • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversifi
Slide 32: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 31
Slide 33: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 34: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agrawal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr