Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q3 FY2016 Earnings Presentation
29 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, January 2016
Slide 1: Shree Pushkar Chemicals & Fertilisers Ltd Investor Presentation
Shree Pushkar Chemicals & Fertilisers Ltd Investor Presentation January 2016 1
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shree Pushkar Chemicals & Fertilisers Limited Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purch
Slide 3: Commenced Operations for New Reactive Dyes Plant in January 2016
Commenced Operations for New Reactive Dyes Plant in January 2016 Capacity of 3000 TPA At Lote Parshuram, Maharashtra New Quality Control Laboratory ~ 2 months of Order book 3
Slide 4: Reactive Dyes… A Forward Integration
Reactive Dyes… A Forward Integration Reactive Dyes : a class of highly coloured organic substances, primarily used for dyeing textiles, for cellulosic fibers like cotton/flax & also wool that attach themselves to their substrates by a chemical reaction that forms a covalent bond between the molecule
Slide 5: 9M FY16 Segmental Highlights
9M FY16 Segmental Highlights Dye Intermediates Acid Complex Revenue break up 21% volume growth 35% volume growth -24% Revenue de-growth 75% Revenue growth 17% 3% 8% 71% Cattle Feed Fertiliser Dye Intermediates 19% volume growth 22% volume growth Acid Complex Cattle Feed 15% Revenue growth 21% Revenu
Slide 6: 9M FY16 Highlights
9M FY16 Highlights Period of soft Raw Material prices Revenue -12.3% • Pass through of declining Raw Material prices led to Rs 172 Crs a correction in Finished Goods prices • Stabilization of H-acid prices in the market leading to lower realisation • Strong volume growth across all divisions EBIDTA
Slide 7: Financial Highlights – Quarterly & 9 Months
Financial Highlights – Quarterly & 9 Months Particulars (Rs. In Crs) Q3FY16 Q3FY15 Y-o-Y Q2FY16 Q-o-Q 9MFY16 9MFY15 Y-o-Y Net Sales 49.61 58.05 60.46 170.32 195.80 Other Income 1.00 0.15 0.64 1.64 0.25 Total Revenue from Operations 50.61 58.20 -13.0% 61.10 -17.2% 171.96 196.05 -12.3% Raw Materials 3
Slide 8: Future Growth Indicators
Future Growth Indicators Plant Commissioned Maintaining steady growth in Reactive Dyes current business • Commenced operations on 28th Jan Consolidated business growth at a 2016 CAGR of 19% over the past 5 years • Capacity – 3,000 MT p.a. • Arrangement with Huntsman for Sales of Dyestuff Zero Waste
Slide 9: Utilization of IPO Proceeds
Utilization of IPO Proceeds Total Spent/Utilisation Objects of the issue Amount Pending Particulars (Rs Crs) upto December 31st as per prospectus Utilisation 2015 Acquisition of Existing Factory at B-97, Lote 2.29 2.12 0.17 Parshuram Construction of Godown at unit II 2.38 2.25 0.13 Amount Spent for
Slide 10: Business Details
The chemistry Behind colours... Business Details 10
Slide 11: The Chemistry Behind Colours
The Chemistry Behind Colours India’s largest manufacturer of K Acid Established in 1993 as a Chemical Trading company Single location plant at Lote Parshuram Products across Dye Intermediates, Acid Complex, Cattle Feed Supplement & Fertilizers Marketing through 125 dealers across Maharashtra, Gujara
Slide 12: Key Milestones
Key Milestones 2007 Recycling of effluents from Cattle Feed 2002 Backward Dye Intermediates 2010 Backward Integration for In- Division Entered New Acid Complex Integration house Raw SegmentEntered New Material & Cost Segment Efficiencies 2001 Dye Change of Focus Zero Waste Chemical from Trading to I
Slide 13: State of Art Integrated Manufacturing Facilities
State of Art Integrated Manufacturing Facilities New Reactive Dyes Plant Unit 1 – Dye Intermediates Unit 2– Granulation Plant Unit 3 Sulphuric Acid Plant New Quality Testing Lab for Dyes Single Location Plants in Lote Parshuram, Maharashtra “One Stop Shop for Dye Manufacturers” 13
Slide 14: Key Management
Key Management Punit Makharia Chairman & Managing Director A first generation entrepreneur, he holds a Bachelors in Commerce with a rich business experience of over 2 decades in dealing with chemical and dyes intermediates Gautam Makharia Ratan Jha Dilip Shah R Purohit S N Sengupta Joint Managing Di
Slide 15: Business Overview
Business Overview % of FY15 Business Details Products Industries Revenue Verticals Products manufactured from Gamma Acid, K- Acid, R- Dye Manufacturers of 76% organic chemicals and are further Salt, Vinyl Sulphone, Meta Intermediates Synthetic Dyes processed to obtain dyestuff Ureido Aniline and H-
Slide 16: Dye Intermediates
Dye Intermediates One of the few manufactures of wide range of dye Product offerings for intermediates in India with zero waste Dyestuff Manufacturers State of art integrated manufacturing facilities located at Lote Parshuram, Maharashtra Gamma Acid Total Capacity of 7,836 TPA Meta Ureido Am
Slide 17: Dye Intermediates
Dye Intermediates 2001 – 2006 Inputs Purchased Final Output Production of Gamma Acid and K – Acid B-Napthol Gamma Acid Lower cost efficiencies due to Effluents generated K-Acid Effluents Generated 2006 – till date Creating a Waste to Wealth manufacturing R Salt model with smart use R- Complex
Slide 18: Evolution Towards Cattle Feed and Fertiliser
Evolution Towards Cattle Feed and Fertiliser 2007 – till date Inputs Purchased Final Output Exclusive marketing arrangement with Shriram Chemical & Effluents Generated Fertilizers for Single Super Phosphate in Maharashtra and Karnataka Spent Acid Di Calcium Phosphate (From Dye Tie-up with Shivam
Slide 19: Evolution Towards Acid Complex and Power
Evolution Towards Acid Complex and Power 2009 – till date Inputs Purchased Final Output Sulphuric acid is a major raw material in solphonation in all Effluents Generated chemical industry and phosphoric acid industry Sulphuric Acid Capacity of 40,000 TPA Excess Spent Acid from Spent Acid Oleum
Slide 20: Client Profile
Client Profile Domestic Clients International Clients Own Brand Arrangement with the Textile effects division of Huntsman Inc. for manufacture of Dyes for Huntsman Exclusive marketing arrangement with DCM Shriram Chemical & Fertilizers for Single Super Phosphate in Maharashtra and Karnataka Ti
Slide 21: Key Strengths
Key Strengths Low Financial Leverage Zero Waste 05 01 Recycle of Effluents to generate A Zero Debt Company with new products Debt to Equity nearly NIL Single Location Plant 06 Internal Power Generation All Facilities within MIDC, Lote 02 Use of High Pressure Steam Parshuram, Maharashtra generated fr
Slide 22: Financials
The chemistry Behind colours... Financials 22
Slide 23: Strong Financial Performance
Strong Financial Performance CAGR from FY11 to FY15 PAT EBITDA Revenue +33% +61% +19% CAGR CAGR CAGR Improved Margins Margins Product up from up from Mix 8% to 12% 2% to 7% Along with a strong Balance Sheet 23
Slide 24: Segmental Performance
Segmental Performance (Rs in Cr) Revenue +13% 202.7 +30% 48.2 165.4 35.1 122.3 114.8 128.1 31.0 21.8 2011 2012 2013 2014 2015 FY12 FY13 FY14 FY15 Dye Intermediates Fertilisers +33% +2% 10.3 6.5 6.1 7.7 7.7 7.7 5.0 5.2 5.3 3.3 FY11 FY12 FY13 FY14 FY15 FY11 FY12 FY13 FY14 FY15 Acid Complex Cattle Feed
Slide 25: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Margin % 7.7% 11.9% 13.2% 14.0% 11.9% +19% +33% 267 29.4 31.8 210 23.3 177 131 151 17.9 10.2 FY11 FY12 FY13 FY14 FY15 FY11 FY12 FY13 FY14 FY15 Total Revenue from operations EBIDTA 6.3% 9.6% 10.9% 11.8% 10.6% 2.1% 3.5% 4.1% 4.9% 7.0% +36% 28.2 18.7 24.8 +61% 19.3 1
Slide 26: Key Financial Parameters
Key Financial Parameters (Rs in Cr) Net Debt ROE % 21.1% 16.3% 74 13.7% 13.5% 53 58 11.1% 39 22 6.8% -42 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Sep-15 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Sep-15 * Debt to Equity ROCE % 30.9% 30.6% 28.4% 25.4% 19.2% 1.4 16.5% 1.0 1.2 0.9 0.3 -0.3 Mar-11 Mar-12 Mar-13 Mar-1
Slide 27: Historical Profit & Loss
Historical Profit & Loss Particulars (Rs. In Crs) FY15 FY14 FY13 FY12 FY11 Total Revenue 266.52 210.09 175.98 150.71 131.13 Other Income 0.29 0.28 0.59 0.26 0.16 Total Revenue from Operations 266.81 210.37 176.57 150.97 131.29 Raw Material 195.46 150.58 129.88 116.39 111.92 Employee Expenses 9.11 7.
Slide 28: Balance Sheet
Balance Sheet Liabilities (Rs in Crs) Sep-15 Mar-15 Assets (Rs in Crs) Sep-15 Mar-15 Shareholders Fund 160.62 88.17 Total Non Current Assets 87.39 71.42 Share Capital 30.22 20.71 Fixed Assets 69.98 59.80 Reserves & Surplus 130.40 67.46 Capital Work In Progress 0 9.32 Total Non Current Liabilities 3.
Slide 29: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Shree Pushkar Chemicals & Fertilisers Ltd Strategic Growth Advisors Pvt. Ltd. CIN: U24100MH1993PLC071376 CIN: U74140MH2010PTC204285 Mr. S N Sengupta, Associate Director Ms. Ruchi Rudra/ Mr. Abhishek Bhatt sengupta@shreep
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