India Glycols Limited · NSE:INDIAGLYCO
India Glycols — Q3 & 9M FY2023-24 Earnings Presentation
34 slides from India Glycols's earnings presentation, Feb 5, 2024
Slide 1: Exchange filing cover letter - Regulation 30 disclosure
5th February, 2024 The Manager (Listing) The Manager (Listing) BSE Limited National Stock Exchange of India Limited 1st Floor, New Trading Ring, Exchange Plaza, C-1, Block G, Rotunda Building, P.J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai- 400 051 Scrip Code
Slide 2: Investor Presentation Q3 & 9M FY 2023-24
India Glycols Limited v v v Investor Presentation Q3 & 9M FY 2023-24 1
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation and the following discussion may contain “forward looking statements” by India Glycols Limited (“IGL” or the company) that are not historical in nature. These forward-looking statements, which may include statements relating to future results of operations, f
Slide 4: Q3 & 9M FY24 Performance
Q3 & 9M FY24 Performance INDIA GLYCOLS LIMITED
Slide 5: Performance Overview Q3FY24 vs Q3FY23
Performance Overview Q3FY24 vs Q3FY23 Gross Turnover EBITDA PAT 2,119 Cr 107 Cr 42 Cr + 39.0 % +40.3 % +90.1%* Net Turnover EBITDA Margin PAT Margin 904 Cr 11.8% 4.6% +63.3% (183 bps) +68 bps* ⦁ Strong overall performance with robust growth in revenue and profitability ⦁ All three segments delivered
Slide 6: Performance Overview 9MFY24 vs 9MFY23
Performance Overview 9MFY24 vs 9MFY23 Gross Turnover EBITDA PAT 5,882 Cr 319 Cr 131 Cr +17.0 % +45.6 % +79.0%* Net Turnover EBITDA Margin PAT Margin 2,368 Cr 13.3% 5.5% +16.6% +267 bps + 191 bps* ⦁ Strong revenue and profitability growth ⦁ Good performance in PS and Biobased Chemicals & Specialities
Slide 7: Highlights – Q3 & 9M FY24
Highlights – Q3 & 9M FY24 Business Performance Q3 FY24 over Q3 FY23 □ Gross Revenue up by 39.0% at ₹ 2,119 Cr; while Net revenue is up 63.3% at ₹ 904 Cr o BSPC Net Revenue grew by 87.8% YoY o PS Net Revenue grew by 30.1% YoY o EB Net Revenue grew by 21.8% YoY □ EBITDA up by 40.3% YoY, at ₹ 107 Cr o
Slide 8: Highlights – Q3 & 9M FY24 (Other Highlights)
Highlights – Q3 & 9M FY24 Other Highlights □ Cost pressures continue with high international ethanol prices although lower than earlier highs. □ Imported ethanol prices have started coming down – expected to deliver gains Q1 onwards □ NSU – part commissioning done, remaining expected to be completed
Slide 9: Business Segment Highlights
Business Segment Highlights Bio-based Specialties and Performance Potable Spirits (PS) Ennature Biopharma (EB) Chemicals (BSPC) □ Q3 Revenue at ₹ 609 Cr, up 87.8 % □ Q3 Revenue at ₹ 244 Cr, up 30.1% □ Q3 Revenue at ₹ 51 Cr, up by 21.8% □ EBIT at ₹ 38 Cr, up 26.5%, EBIT margin at 6.2% □ EBIT at ₹ 41
Slide 10: Financial Summary - Consolidated
Financial Summary - Consolidated Particulars (In INR Cr) Q3FY24 Q3FY23 Y-o-Y (%) Q2FY24 Q-o-Q (%) 9MFY24 9MFY23 Y-o-Y (%) Revenue from operations (net of excise) 904 554 63.3% 775 16.7% 2,368 2,032 16.6% Other Income 5 7 11 21 19 Total Income 909 561 62.1% 785 15.7% 2,389 2,051 16.5% Cost of Materia
Slide 11: Financial Summary - Standalone
Financial Summary - Standalone Particulars (In INR Cr) Q3FY24 Q3FY23 Y-o-Y (%) Q2FY24 Q-o-Q (%) 9MFY24 9MFY23 Y-o-Y (%) Revenue from operations (net of excise) 904 553 63.4% 775 16.7% 2,368 2,031 16.6% Other Income 5 8 11 21 23 Total Income 909 562 61.8% 786 15.6% 2,389 2,054 16.3% Cost of Material
Slide 12: Segment Performance - Consolidated
Segment Performance - Consolidated (In INR Cr) Q3FY24 Q3FY23 % YoY Q2FY24 % QoQ 9MFY24 9MFY23 Y-o-Y (%) Bio-based Specialities and Performance Chemicals (BSPC) Net Revenue 609 324 87.8% 508 20.0% 1,518 1,315 15.4% EBIT 38 30 26.5% 42 (9.4%) 121 82 46.9% % margin 6..2% 9.2% (301 bps) 8.2% (202 bps) 8
Slide 13: Segmental Revenue and EBIT Mix - Consolidated
Segmental Revenue and EBIT Mix - Consolidated Revenue Mix EBIT Mix 6% 8% 13% 15% 42% 44% 58% 27% 67% 34% 41% 45% Q3FY23 Q3FY24 Q3FY23 Q3FY24 6% 7% 11% 19% 43% 44% 64% 65% 30% 28% 45% 38% 9MFY24 9MFY23 9MFY24 9MFY23 BSPC PS Ennature Biopharma BSPC PS Ennature Biopharma 12
Slide 14: Company Overview
Company Overview INDIA GLYCOLS LIMITED
Slide 15: IGL at a Glance
IGL at a Glance Go Green Diversified product portfolio Global Standards with inherent synergies Compliance with stringent global 1st in the world to use Innovative Green Technologies to manufacture Bio-based Specialties, Bio-Polymers, standards of plant operations, bio-based ethylene oxide & Potable
Slide 16: Key Milestones
Key Milestones New Grain based Ethanol plant – Formulation Gorakhpur Gorakhpur & Sulphation Distillery & Glycol Kashipur E2 Textile Thiocolchicoside First EO Bio Polymers | MEG 600 US Nicotine ENA JV Clariant Distillery Purification Green Solvents TPD Subsidiary Expansion 1988 1990 1994 1996 2001 20
Slide 17: Portfolio Leading in Bio-based Ingredients and Performance Chemicals
Portfolio Leading in Bio-based Ingredients and Performance Chemicals Bio-based Specialities Segments And Performance Potable Spirits (PS) Ennature Biopharma Chemicals (BSPC) Revenue Mix Net revenue share 64% Net revenue share 28% Net revenue share 7% (Consol. FY23) □ Bio-based Glycols (MEG, DEG, TEG
Slide 18: JV with Clariant: Leaders in bio-based ethoxylates and derivatives
JV with Clariant: Leaders in in bio-based ethoxylates and derivatives Promoters Public 1 - Shareholding Combining production and distribution capacity, as 61.01% 1 38.99% 1 on 30th June 2021 the joint venture is establishing to become a leading supplier of renewable materials to the rapidly growing
Slide 19: Leveraging synergies to create value – integrated manufacturing
Leveraging synergies to create value–integrated manufacturing for bio-based products Portable Spirits (PS) Products Potable Spirit Industrial Gas ENA Power Alcohol O2, N2, Ar Brands Division Ind Gr. CO2 Grain O2 ASU EO-CO2 mix Business transferred to JV with Clariant Bio-based Specialities Green And
Slide 20: Manufacturing Capabilities
Manufacturing Capabilities Kashipur Gorakhpur Dehradun 300-acre state of art integrated manufacturing complex 56-acre state of art distillation & bottling complex 160,000 sqft state of art facility Fermentation – Molasses and Grain Based Grain based Ethanol High Purity Extraction Ethanol Distillatio
Slide 21: R&D: Creating value through New Product Development
R&D: Creating value through New Product Development; focus on Green Chemistry 1 Focus on NPD, designing products for the future in collaboration with our reputed customers 2 DSIR Recognized R&D at Dehradun and Kashipur 3 Exploiting available feed stocks of Bio-Alcohol, Smart Alcohol, Ethylene Oxide,
Slide 22: Business Segments
Business Segments INDIA GLYCOLS LIMITED 21
Slide 23: Bio-based Specialities and Performance Chemicals (BSPC)
Bio-based Specialities and Performance Chemicals (BSPC) ❑ First in the world to manufacture ethylene oxide and glycols from bio-based feedstocks e.g. Molasses, Grain ❑ Largest manufacturer of Bio-based glycols and Bio-based Ethylene Oxide made from renewable feedstock i.e. Molasses ❑ Products for a
Slide 24: Potable Spirits (PS)
Potable Spirits (PS) ❑ License for operations and sale of Country Liquor in the States of Uttar Pradesh and Uttarakhand. Also operates and sells Indian Made Foreign Liquor (“IMFL”) from its own unit and few tie-up units ❑ Company brands are available in the states of Uttarakhand, Uttar Pradesh, Delh
Slide 25: Ennature Biopharma (EB)
Ennature Biopharma (EB) ❑ Operates in the space of Nutraceuticals, Phytochemicals & health supplement ingredients. One of the leaders in Complex phytochemicals chemistry in India ❑ Global leader in Thiocolchicoside, a highly potent muscle relaxant API ❑ Advanced production capabilities, including or
Slide 26: IGL - Catering to diverse end markets
IGL - Catering to diverse end markets • Glycols are used for the manufacture of polyester yarn, fibre, film and resin and as an automobile coolant • Bio-glycols cater to the beverage and food industry's packaging requirement of PET bottles and polyester film • Ethyl / Butyl glycol ethers and its ace
Slide 27: Growth Drivers
Growth Drivers 26
Slide 28: Growth Drivers
Growth Drivers ❑ High prospects of growth of industry sectors being serviced by IGL – Personal Care, Automotive, Packaging, Beverages, Oil & Gas, Home Care, Pharma, Nutraceuticals etc, Textiles – most expected to grow at near double digit or more ❑ Increasing consumer awareness and demand for sustai
Slide 29: Yearly financial Performance
Yearly financial Performance 28
Slide 30: 4-year Financial Trajectory - Consolidated
4-year Financial Trajectory - Consolidated In INR Net Revenue (Excl. EBITDA (Excl. Discontinued PAT (Excl. Discontinued Biz.) Cr Discontinued Biz.) Biz.) 330 319 2,744 2,890 288 283 277 2,675 2,332 141 109 75 FY2020 FY2021 FY2022 FY2023 FY2020 FY2021 FY2022 FY2023 FY2020 FY2021 FY2022 FY2023 Net Rev
Slide 31: 4-year Financial Trajectory - Consolidated (Margins, RoE, Debt)
4-year Financial Trajectory - Consolidated EBITDA Margin (%) (Excl. PAT Margin (%) (Excl. Discontinued RoE (%) Discontinued Biz.) Biz.) 11.4% 12.1% 11.9% 10.5% 19.2% 9.6% 5.3% 11.1% 11.3% 4.7% 7.4% 2.7% FY2020 FY2021 FY2022 FY2023 FY2020 FY2021 FY2022 FY2023 FY2020 FY2021 FY2022 FY2023 EBITDA Margin
Slide 32: Sustainability, ESG and Certifications
Sustainability, ECG and Certifications 31
Slide 33: Sustainability, ESG
Sustainability, ESG Environment Stewardship • World’s first and largest producer of Bio-Based EO and its derivatives • Next Generation CarbonSmart products from emissions (fossil carbon) - collaboration with Transparent Accountable LanzaTech & consumer majors like Unilever and Lululemon • Environmen
Slide 34: Thank you
Thank you Ernst & Young LLP India Glycols Limited CIN: L24111UR1983PLC009097 Runjhun Jain Ankur Jain runjhun.jain1@in.ey.com Company Secretary & Compliance Officer Head office Rohit Anand rohit.anand4@in.ey.com 2B, Sector-126, Noida Tel: +91-120-6860000, 3090100, 3090200 Gautam Budh Nagar Fax: +91-1
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