Bodal Chemicals Limited · NSE:BODALCHEM
Bodal Chemicals — Q2 FY2018-19 Earnings Presentation
33 slides from Bodal Chemicals's earnings presentation, Oct 25, 2018
Slide 1: Stock exchange cover letter for earnings presentation
Bodal Chemicals Ltd. COLOURS. INTEGRATION, fNNCVATfCIN. By Online Submission Sec/ 18-19/ 13 7 Date: 25/10/2018 To, To, The General Manager, The General Manager, BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J .. Tower, Plot no. C/1, G
Slide 2: Quarterly Performance Q2FY2018-19 & H1FY2018-19
Quarterly Performance ' - -l~~l ll - Q2FY2018-19 & H1FY2018-19 25 October 2018 Bodal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION.
Slide 3: Important Notice
Important Notice This presentation contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Bodal Chemicals' future business developments and economic performa
Slide 4: Company Profile
Company Profile Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 3 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 5: Bodal's History
Bodal' s History • Bodal was incorporated in 1989 by Mr. Suresh Patel, a first generation entrepreneur. • Bodal is today one of the globally leading, integrated Dyestuff companies from India. • Company commenced its operations by setting up a small Vinyl Sulphone plant at Vatva - Ahmedabad (Gujarat)
Slide 6: Journey
Journey 2006 2016 Notes: Listed on ESE-reverse merger with Amalgamation: Units are manufacturing sites Dintex Dye Chem (Unit I) Bodal Agrotech, LAB SA, Unit X Unit Nos. are as per current numbering of sites Zero Discharge Facility 2006 Acquired Unit IV 2017 Acquired 70%: SPS Processors, Dye 2007 Int
Slide 7: Market share
Market share Bodal's Position in Global & Indian Dye Intermediates Industry Share in Indian Dye Intermediates D Industry Share in Global Dye Intermediates Industry Bodal's Position in Global & Indian Dyestuff Industry Share in Indian Dyestuff Industry Share in Global Dyestuff Industry 6 Bodal Chemic
Slide 8: Manufacturing Value Chain
Manufacturing Value Chain - Input Materials - part/full in-house Input Materials - external Badal Chemicals Products Water I I I I Para Nitro Aniline , Vinyl Sulphone + Derivatives Ice l I I I I ~l Reactive Dyes I • I •• I Textiles I I ( Beta Naphthol lI I H Acid Steam l _.. .. Power Sulphur 7 I I I
Slide 9: Quarterly Performance
Quarterly Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 8
Slide 10: Operational & Financial Highlights
Operational & Financial Highlights 9 Bodal Chemicals Ltd. COLOURS. INTEl3RATlON. INNOVATION. I
Slide 11: Highlights - Q2 FY19 (YoY)
Highlights - Q2 FY19 (YoY) Operational Highlights ~ Increased Volume, improved product mix & better realizations Another sequential outperformed quarter ~ Exports up by 179%, from Rs. 619 Million to Rs. 1,730 Million Growth in volume and value Higher realisation in Dye Intermediates ~ Dyestuff new c
Slide 12: Financial-Standalone basis
Financial-Standalone basis Revenue from operations 3,743 2,625 43% Other Income 19 16 12% Total Income 3,761 2,642 42% Raw Materials Consumed 2,267 1,631 39% Employee Benefits 160 101 58% Foreign Exchange (Gain)/Loss (Net) 62 (1) Other expenses 558 429 30% Total expenses 3,047 2,160 41% Earnings bef
Slide 13: EBITDA Reconciliation
EBITDA Reconciliation (Rs. million) EBITDA as published Particulars Q2FY19 Q2FY18 Revenue from operations 2,625 Other income 16 Total Income 2,642 Less: Total expenses 2,160 EBITDA as published 714 482 EBITDA Margin(%) to Total Income 19.0% 18.2% Operational -EBITDA Particulars Q2FY19 Q2FY18 Revenue
Slide 14: Revenue Breakup
Revenue Breakup Break-up (Standalone) Q2FY2019 Q2FY2018 Others Others Basic Chemicals 5% Basic Chemicals 6% 10% 8% Dye Intermediates 50% Dye Dyestuff Intermediates 29% 57% Dyestuff 35% Q2FY2019 Q2FY2018 Export 47% Domestic 53% 13 Note: Sale of products are net of excise duty & GST Bodal Chemicals Lt
Slide 15: Financial Highlights- Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA *(Rs.Million) and Margin(%) 20.2% 63% Growth 17.7% Q2FY18 Q2FY19 Q2FY18 Q2FY19 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Margin(%) 17.5% 61 % Growth 11.4% 65% Growth 15.5% Q2FY18 Q2FY19 Q2FY18
Slide 16: Half yearly Performance
Half yearly Performance Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 15
Slide 17: Financial -Standalone basis
Financial -Standalone basis (Rs. million) Particulars H1FY19 H1FY18 YoY (%) Revenue from operations (Net of Excise Duty) 7,272 5,345 36% Other Income 45 42 9% Total Income 7,318 -- 5,386 36% Raw Materials Consumed 4,451 3,314 34% Employee benefits 313 207 51% Foreign Exchange (Gain)/Loss (Net) 130 (
Slide 18: EBITDA Reconciliation
EBITDA Reconciliation (Rs. million) EBITDA as published Particulars H1FY19 H1FY18 Revenue from operations 7,272 5,345 Other income 45 42 Total Income 7,318 5,386 Less: Total expenses 5,950 4,348 EBITDA as published 1,368 1,039 EBITDA Margin(%) to Total Income 18.7% 19.3% EBITDA- Operational Particul
Slide 19: Revenue Breakup
Revenue Breakup Break-up (Standalone) H1FY19 H1FY18 Basic Others Chemicals 5% Dye Intermediates 49% Dye Dyestuff Intermediates 30% 56% H1FY19 H1FY18 Export 45% Domestic 55% 18 Note: Sale of products are net of excise duty & GST Bodal Chemicals Ltd. COLOURS. INTEl3RATlON. INNOVATION.
Slide 20: Financial Highlights- Standalone
Financial Highlights- Standalone Total Income (Rs. Million) EBITDA *(Rs.Million) and Margin(%) 49 % Growth 20.0% 36% Growth H1FY18 H2FY19 H1FY18 H2FY19 Profit Before Tax (Rs. Million) and Margin (%) Profit After Tax (Rs. Million) and Margin (%) 17.1% 41 % Growth 11.2% 16.5% H1FY18 H2FY19 H1FY18 H2FY
Slide 21: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 20
Slide 22: Financials of Subsidiaries & Consolidated Numbers
Financials of Subsidiaries & Consolidated Numbers (Rs. million) Subsidiaries SPS & Trion Q2FY19 H1FY19 Particulars SPS Trion SPS Trion Total Income 305 21 398 23 EBITDA 39 (11) 53 (19) PAT 16 (25) 17 (46) Consolidated Quarterly Half Yearly Particulars Q2FY19 Q2FY18 H1FY19 H1FY18 Operational Revenue
Slide 23: Balance Sheet Analysis
Balance Sheet Analysis Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 22
Slide 24: Leverage - Standalone
Leverage -Standalone Particulars (Rs. Million) 30-Sep-18 31-Mar-18 Total Debt / Equity (x) Short Term Borrowings 207 840 Long Term Borrowings 7 8 Total Debt 214 848 Less: Cash & Cash Equivalents 197 186 Net Debt I (Net Cash) 17 662 O.OX Reduction in Debt 646 Net Worth 7,733 7,020 Sep-18 Mar-18 EBITD
Slide 25: Working Capital Analysis
Working Capital Analysis : (Rs. Million) Working Capital I 30-Sep-18 31-Mar-18] i) Inventories 2,033 1,121 I ii) Trade Receivables 1,903 2,723 iii)Trade Payables 2,043 1,482 I Net Working Capital (i+ii-iii) 1,893 2,362 Days* 87 75 51 51 48 47 47 36 Inventories Trade Trade Payables Net Working Receiv
Slide 26: Bodal Chemicals Ltd.
Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 25 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 27: Management Comments on Results & Updates (1 of 2)
Management Comments on Results & Updates (lof 2) During this quarter company achieved 43 % growth in revenue Yo Y basis and increased operating profit by 250bps, operational EBITDA stand at 20.2% . Margins: In this quarter, the sales realisation for some of the key Dye intermediates and volume for D
Slide 28: Management Comments on Results (2 of 2)
Management Comments on Results (lof 2) Dyestuff expansion : Considering the sharp increase achieved in recently added Dyestuff capacity during the quarter, management has decided to further expand dyestuff (powder) capacity by 6000 MTPA, ahead of original schedule, at Unit- 7. The estimated expansio
Slide 29: Conference call to discuss Q2 FY2019 results & outlook
Conference call to discuss Q2 FY 2019results & outlook Management will discuss results of Q2 & Hl FY2019 and Outlook on a conference call on 25 October 2018 at 4 PM India time. The conference call dial-in numbers are: Primary number: +91 22 6280 1106/+91 22 7115 8007 Local access number: +9170456 71
Slide 30: Thank you
Thank you Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. CIN: L24110GJ1986PLC009003 MayurPadhya Plot No. 123-124, Phase - I, G.I.D.C., CFO, Bodal Chemicals Vatva, Ahmedabad - 382 445, Gujarat, India +91 79 2583 5437 29 T: +91-79-2583 5437 IE: bodal@bodal.com mavur@bodal.com www.bodal.com !..
Slide 31: Annexures
Annexures Badal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. 30 Bodal Chemicals Ltd. COLOURS. INTEl:IRATlON. INNOVATION.
Slide 32: Sale of products - by sub-segment and geography (Standalone)
Sale of products - by sub-segment and geography (Standalone) .. -· -- - - --- (fI!.W ...- ~~:WU@ ~ - Domestic 1,950 53% 1,979 76% -1% Export 1,730 47% 619 24% 179% Total 3,680 100% 2,598 100% 41.6% ---- --- I -- - •~--- ~ - l Dye Intermediates 1,822 50% 1,482 57% 23.0% Dyestuff 1,301 35% 751 29% 73.
Slide 33: Production Quantity Metric Tons (MT)
Production Quantity Metric Tons (MT) Dyestuff 5,277 3,420 54% Dyes Intermediates 6,031 5,403 12% Basic Chemicals 51,522 44,672 15% Dyestuff 9,635 7,340 31% Dyes Intermediates 12,248 10,532 16% Basic Chemicals 101,970 91,605 11% 32 Bodal Chemicals Ltd. COLCLJRS, INTEBRATIDN, INMDVATION. I