Usha Martin Limited · NSE:USHAMART
Usha Martin — Q3 FY2023 Earnings Presentation
20 slides from Usha Martin's earnings presentation, Feb 11, 2023
Slide 1: Cover letter to stock exchanges: Earnings Presentation
Date: 11th February 2023 The Manager The Secretary Societe de la Bourse de National Stock Exchange of India Ltd BSE Limited Luxembourg Exchange Plaza, 5th Floor, Phiroze Jeejeebhoy Towers, 35A Bouleverd Joseph II Plot No.C/1, G Block, Dalal Street L-1840, Luxembourg Bandra Kurla Complex, Bandra (E)
Slide 2: Q3 & 9M FY23 Earnings Presentation
Specialty Wire Rope Solutions Provider Q3 & 9M FY23 Earnings Presentation February 11, 2023
Slide 3: Disclaimer
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Usha Martin Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall no
Slide 4: Q3 & 9M FY23 Results Overview
Q3 & 9M FY23 Results Overview 3
Slide 5: Key Financial Highlights – Consolidated Q3 & 9M FY23
Key Financial Highlights – Consolidated Q3 & 9M FY23 In Rs. crore Net Revenue from operations EBITDA 1 Margins 14.1% 14.0% 15.2% 14.4% 14.9% 2,413 1,922 359 277 712 820 834 100 115 127 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: 1.6% YoY: 17.1% 25.6
Slide 6: Diversified presence across geographies and segments
Diversified presence across geographies and segments Revenue Segmentation1 Product End Industry2 Geography2 Others, 4% Others, 7% Fishing, 2% Americas, 6% Mining, 4% Wire & Strand, 11% Engineering, 25% Energy & Utilities, 3% Middle East & Africa, 8% Auto, 8% Asia Pacific, 16% India, 46% LRPC, 16% El
Slide 7: Segmental Revenue Overview
Segmental Revenue Overview In Rs. crore Wire Rope Wire & Strand 260 1,596 232 1,189 553 562 80 92 83 447 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: 1.5% YoY: 25.8% 34.3% Shift (%) QoQ: (9.3%) YoY: 3.6% 12.3% LRPC 389 347 134 122 118 Q3
Slide 8: Discussion on Financial and Operational Performance
Discussion on Financial and Operational Performance Net Revenues Revenue from operations increased by 17.1% Y-o-Y in Q3FY23 to Rs. 833.6 crore o The Company reported an increase in revenues on account of better realizations despite registering a 1.6% Y-o-Y decline in volumes • Focus on value-added
Slide 9: Successfully Managing Raw-Material Volatility
Successfully Managing Raw-Material Volatility Steel Price1 (Rs. per tonne) 65,508 62,796 62,281 57,217 54,951 58,287 55,779 58,465 43,966 FY21 Q3FY22 9M FY22 Q4FY22 FY22 Q1FY23 Q2FY23 Q3FY23 9M FY23 EBITDA/tonne2 (Rs.) 25,608 25,526 24,695 22,965 19,780 19,738 19,331 19,624 15,880 FY21 Q3FY22 9M FY2
Slide 10: PBT Bridge: Q3 & 9M FY23
PBT Bridge: Q3 & 9M FY23 In Rs. crore Sales Realizations: Improvement in product portfolio and higher realizations from solution sales in Europe contributed to overall improvement Sales Volume: Higher wire rope sales assisted sales volumes performance Consumption: Increase in steel prices led
Slide 11: Balance Sheet remains significantly de-risked
Balance Sheet remains significantly de-risked In Rs. crore Gross Debt Net Debt 461 342 355 354 323 256 217 191 FY21 FY22 Sep-22 Dec-22 FY21 FY22 Sep-22 Dec-22 Gross Debt to Equity (x) Net Debt to Equity (x) 0.33 0.24 0.21 0.20 0.17 0.14 0.11 0.11 FY21 FY22 Sep-22 Dec-22 FY21 FY22 Sep-22 Dec-22 10
Slide 12: NWC Turnover reduction through active rationalization of inventory
NWC Turnover reduction through active rationalization of inventory Continuous focus on optimizing working capital to reduce cash conversion cycle over the next few quarters Current Ratio (x) Net Working Capital (Rs. Crore) 2.2 2.2 2.3 999 1,019 1.9 874 749 Dec-21 Mar-22 Sep-22 Dec-22 Dec-21 Mar-22 S
Slide 13: Annexure
SRE VETTINU: TERRE “a
Slide 14: Abridged Consolidated P&L Statement
Abridged Consolidated P&L Statement In Rs. crore Y-o-Y Q-o-Q Y-o-Y 3QFY23 3QFY22 2QFY23 9MFY23 9MFY22 Change (%) Change (%) Change (%) Revenue from Operations 833.6 712.2 17.1% 820.2 1.6% 2,412.5 1,921.5 25.6% Operating EBITDA 127.0 100.4 26.5% 115.0 10.4% 359.4 277.0 29.7% Operating EBITDA Margin (
Slide 15: Key Operational Update – Consolidated Q3 & 9M FY23
Key Operational Update – Consolidated Q3 & 9M FY23 Sales Volumes1 (‘000 MT) 137 146 50 50 49 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: (2.4%) YoY: (1.6%) 6.4% Wire Rope Sales Volumes Wire & Strand LRPC (‘000 MT) Sales Volumes (‘000 MT) Sales Volumes (‘000 MT) 63 69 49 29 28 45 23 24 24
Slide 16: Abridged Standalone P&L Statement
Abridged Standalone P&L Statement In Rs. crore Y-o-Y Q-o-Q Y-o-Y 3QFY23 3QFY22 2QFY23 9MFY23 9MFY22 Change (%) Change (%) Change (%) Revenue from Operations 496.1 471.5 5.2% 518.8 -4.4% 1,530.5 1,295.4 18.2% Operating EBITDA 75.8 63.9 18.7% 68.0 11.4% 214.5 178.9 19.9% Operating EBITDA Margin (%) 15
Slide 17: Key Operational Update – Standalone Q3 & 9M FY23
Key Operational Update – Standalone Q3 & 9M FY23 Sales Volumes1 (‘000 MT) Export Volumes1 (‘000 MT) 28.3 27.7 112 120 41 9.7 9.1 41 40 8.1 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Q3 FY22 Q2 FY23 Q3 FY23 9M FY22 9M FY23 Shift (%) QoQ: (2.4%) YoY: (1.6%) 6.4% Shift (%) QoQ: (11.4%) YoY: (16.4%) (2.0%)
Slide 18: Market snapshot
Market snapshot Shareholding pattern as on 31st Dec. 2022 As on Key Market Statistics st 31 Dec. 2022 Public 29.6% BSE/NSE Ticker 517146 / USHAMART CMP (Rs) 171.2 Corporate Bodies 14.1% Market Cap (Rs Crore) 5,248 Number of outstanding shares (Crore) 30.47 Face Value 1.00 FPI 8.7% 52-week High / Low
Slide 19: Contact us
Contact us About Us: Established in the year 1960, Usha Martin is a leading global and India’s No. 1 specialty steel wire rope solutions provider. The Company is also engaged in Mr. Anirban Sanyal (Chief Financial Officer) the manufacturing of high-quality wires, low relaxation prestressed concrete
Slide 20: Thank You
Thank You usha martin