44 slides from Styrenix Performance Materials's earnings presentation, May 6, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation
May 6, 2024 To, BSE Limited National Stock Exchange of India Limited Dept. DSC_CRD Exchange Plaza, Phiroze Jeejeebhoy Towers, Plot No. C/1, ‘G’ Block, Dalal Street Bandra- Kurla Complex, Mumbai 400 001 Bandra (‘E’) BSE Scrip Code: 506222 Mumbai 400 051 NSE Symbol: STYRENIX Subject: Investor Presenta
Slide 2: Investor Presentation Q4 & FY24
NSE: STYRENIX | BSE: 506222 Investor Presentation Q4 & FY24
Slide 3: Slide 3
Slide 4: Table of Contents
Table of Contents 01 Chairman’s Message & Financial Snapshot 02 Strategic Roadmap 03 Business Performance & Outlook 04 Financial Performance 05 Overview of the Company 06 Applications across Diverse Industries 3
Slide 5: Chairman's Message & Financial Snapshot
Chairman’s Message & Financial Snapshot 4
Slide 6: Chairman's Message
Chairman’s Message Sales – During the FY 2023-24 the sales grew by 10.74%. We are optimistic about the growth potential offered by our product segments and are leveraging our acquired expertise and technology to capitalize on the opportunities. Productivity – With debottlenecking exercise done till
Slide 7: Financial Snapshot Q4 FY24 / FY24
Financial Snapshot Q4 FY24 FY24 6
Slide 8: Financial Snapshots: Key Ratios
Financial Snapshots KEY RATIOS *Mcap as of 31st March of respective financial year 7
Slide 9: Strategic Roadmap
STRATEGIC ROADMAP 8
Slide 10: FY24 – the year of strategic transformation
FY24 – the year of strategic transformation… DE-BOTTLENECKING & 1 BROWNFIELD EXPANSION Stakeholder Value 2 PORTFOLIO EXPANSION Creation 3 COST OPTIMIZATION 9
Slide 11: FY25 – de-bottlenecking & expansion going forward
… and FY25 – de-bottlenecking & expansion going forward… ABS: A capex plan to double production capacity from 105 KT to 210 KT in subsequent 36 months post debottlenecking FY28 project. PS: A capex plan to increase capacity from 105 KT to 150 KT in subsequent 24 months post debottlenecking project.
Slide 12: Building capacity to meet market demand
Building capacity to meet market demand 3,60,000 2,55,000 2,26,000 2,10,000 1,51,000 1,08,000 Historical Avg. Oct-23* 2024 - 2025 2025 - 2026 2026 - 2027 2027 - 2028 Prior to Nov 2022 Note: All figures are in MT * Period when CAPEX and debottlenecking plan was announced 11
Slide 13: Portfolio expansion
Portfolio expansion Introduced in FY 23-24 ABSOLAC ABSOLAN (ABS) (SAN) STYROLOY ASALAC (PC+ABS, PA+ABS, (ASA) blends) Styrenix Styrenix Value proposition customized solutions GPPS HIPS
Slide 14: Business Performance & Outlook
BUSINESS PERFORMANCE & OUTLOOK 13
Slide 15: Managing Director's Message
Managing Director’s Message Continue to strengthen our position in specialties, drive product mix to maximize margins and addition of new grades & blends to our product portfolio. Our strive is to further strengthen Company’s position in focus industries, mainly in Automotive & Household and penetra
Slide 16: Growth witnessed across industry segments
Growth witnessed across industry segments Small Polymer Large appliances demand Automotive Household & Utility growth Appliances items 8~10% • Auto Industry – Two-Wheeler & Four where growth was ~10% YoY • Large Appliances – mainly Refrigerator , Air conditioner, Washing Machine – growth was moderat
Slide 17: Amply supported by India's GDP growth
… amply supported by India’s GDP growth * India is being forecasted by globally highest GDP among other country Source IMF 16
Slide 18: Industry Outlook
Industry Outlook • Indian household items penetration in Urban and rural is growing much faster due to increase in per capita income and spending • Apart from demand growth- increase in size of the product like larger refrigerator, TV, washing machine • Polymer demand likely to grow much higher than
Slide 19: Financial Performance
FINANCIAL PERFORMANCE PERFORMANCE & MATERIALS
Slide 20: Sales Volume
Sales Volume Sales Volume [MTs] ↑ 10.7% 19
Slide 21: Quarterly Financials
Quarterly Financials (₹ Cr. except EPS) % vs Oct-Dec % vs Jan-Mar Particulars Jan-Mar 24 Oct-Dec 23 Jan-Mar 23 23 23 Sales revenue 598.7 484.7 615.3 23.5% -2.7% Other income 2.4 1.7 3.0 39.0% -19.5% Total Income 601.1 486.4 618.3 23.6% -2.8% Cost of goods sold 451.5 354.3 460.1 27.4% -1.9% Other exp
Slide 22: Income Statement
Income Statement (₹ Cr. except EPS) Particulars FY23-24 FY22-23 % Sales revenue 2,222.2 2,372.3 -6.3% Other income 9.3 15.1 -38.7% Total Income 2,231.4 2,387.4 -6.5% Cost of goods sold 1,662.2 1,776.4 -6.4% Other expenses + Employee Cost 296.4 320.7 -7.6% Profit before Depreciation, Interest and Tax
Slide 23: Balance Sheet
Balance Sheet (₹ Cr.) (₹ Cr.) As at Mar 31, 2024 As at Mar 31, 2023 As at Mar 31, 2024 As at Mar 31, 2023 Particulars Particulars (Audited) (Audited) (Audited) (Audited) II EQUITY AND LIABILITIES I ASSETS 1 Non-current assets 1 Equity (a) Equity share capital 17.6 17.6 (a) Property, plant and equipm
Slide 24: Cash Flow
Cash Flow (₹ Cr.) For the Year For the Year Particulars ended ended Mar 31, 2024 Mar 31, 2023 Net cash from operating activities (I) 216.3 270.1 Net cash from Investing Activities (II) (87.9) (135.6) Cash flow from Financing Activities (III) (176.6) (197.8) Net cash inflow/(outflow) (I+II+III) (48.3
Slide 25: Overview of the Company
PERFORMANCE 4 MATERIALS OVERVIEW OF THE COMPANY
Slide 26: A leader in ABS & SAN, growing in Polystyrene & other polymers
A leader in ABS & SAN…growing in Polystyrene & other polymer segments Catering to all regions of ABSOLAC (ABS) Unique product India through: ASALAC innovation capabilities Committed to maintain • R&D STYROLOY highest quality & • 4 Production units performance standards PAN India ABSOLAN (SAN) • 6 Sa
Slide 27: ... with consistent growth
... with consistent growth 1973 1992 ABS capacity increased to Capacity increased of 1993 10,000 TPA ABS to 39,000 TPA & 1995- SAN to 40,000 TPA 1996 Commissioned new SAN plant in Katol - capacity 5,000 TPA Mr. Rakesh Agrawal Incorporated 2000- ABS Plastics Ltd. and leads it till 2012 2003 ABS capac
Slide 28: ...including plants with scope for expansion
...including plants with scope for expansion… KATOL Product: SAN 01 Capacity: 100 KTPA Area: 48,000 sq.m MOXI 02 Product: ABS & Others Capacity: 100 KTPA Area: 45,000 sq.m ` DAHEJ 03 Product: PS Capacity: 66 KTPA Area: 2,27,000 sq.m NANDESARI 04 Product: Rubber Capacity: 24 KTPA Area: 45,000 sq.m
Slide 29: ...and cutting edge R&D center
...and cutting edge R&D center… Established in 1995 – Color excellence 01 R&D facility with more than 1,300 On spot color confirmation colors. with customer requirement. 06 Focus on rubber research, 02 color development activities new product development Continuous interaction with & customer relati
Slide 30: ...driven by best practices of SHE
...driven by best practices of SHE… SHE Highlights SHE Focus Area Best Practices Followed • Committed to the Safety and Health of employees and nearby communities • Process Safety Management [As per OSHA • Certified & committed to ISO 14001:2015 • Process Safety [As per OSHA guidelines] guidelines]
Slide 31: ...led by competent Board of Directors
…led by competent Board of Directors… Rakesh S. Agrawal Milin Mehta Chairman Independent Director A first-generation entrepreneur, Chairman-Shiva Group Leads the practice of K.C. Mehta & Co. Masters of Engineering in Chem. from Stevens Institute of Tech. Chartered Accountant and Law Graduate Experie
Slide 32: ...having marquee clientele
…having marquee clientele • Hero, Honda, Bajaj, TVS, OLA, Yamaha, Aether Automotive • Maruti Suzuki, TATA, Mahindra • Ashok Leyland,…… • LG, Samsung, Haier, Godrej,…. Household • Daikin, Havells, IFB,…. Appliances • Orient, Crompton, Kent, Eureka Forbes,… Stationary, • Flair, Linc, Lexi, Win, Ostern
Slide 33: Applications Across Diverse Industries
APPLICATIONS ACROSS DIVERSE INDUSTRIES 32
Slide 34: Applications across diverse industries
Applications across diverse industries 33
Slide 35: Applications: ABSOLAC ABS
Applications: ABSOLAC®ABS 34
Slide 36: Applications: ABSOLAC ABS
Applications: ABSOLAC®ABS 35
Slide 37: Applications: ABSOLAN SAN
Applications: ABSOLAN®SAN 36
Slide 38: Applications: ABSOLAN SAN
Applications: ABSOLAN®SAN 37
Slide 39: Applications: STYRENIX GPPS
Applications: STYRENIX®GPPS 38
Slide 40: Applications: STYRENIX HIPS
Applications: STYRENIX®HIPS 39
Slide 41: Applications: STYROLOY & ASALAC
Applications: STYROLOY® & ASALAC® STYROLOY® ASALAC® 40
Slide 42: For further information, please contact
FOR FURTHER INFORMATION, PLEASE CONTACT. STYRENIX PERFORMANCE MATERIALS LTD:. ADFACTORS PR - INVESTOR RELATIONS:. Chintan Doshi (CS) Darshan Mankad / Bhavya Agarwal secshare@styrenix.com darshan.mankad@adfacrorspr.com / bhavya.aggarwal@adfactorspr.com 9818982339 KINDLY READ THE DISCLAIMER AT THE END
Slide 43: Disclaimer
Disclaimer This presentation has been prepared by Styrenix Performance Materials Ltd. (“Styrenix” or the “Company”) solely for your information and may not be taken away, reproduced, or redistributed directly or indirectly, to any other person (whether within or outside your organization or firm) or
Slide 44: Disclaimer
Disclaimer No representation, warranty, guarantee or undertaking (express or implied) is made as to, and no reliance should be placed on, the accuracy, completeness or correctness of any information, including any projections, estimates, targets and opinions, contained herein, and no liability whats