Tinna Rubber & Infrastructure Limited · NSE:TINNARUBR
Tinna Rubber & Infrastructure — Q3 2024 Earnings Presentation
43 slides from Tinna Rubber & Infrastructure's earnings presentation, Jan 30, 2024
Slide 1: Investor and Earning Presentation filing letter
TINNA RUBBER AND INFRASTRUCTURE LTD CIN NO. : L51909DL1987PLC027186 Regd. Office : Tinna House, No-6, Sultanpur, Mandi Road, Mehrauli, New Delhi -110030 (INDIA) Tel. : (011) 4951 8530 (70 Lines), (011) 4900 3870 (30 Lines) E-mail : tinna.delhi@tinna.in URL - www.tinna.in Date: 30th January, 2024 To,
Slide 2: Investor & Earnings Presentation Q3/9M FY-2024
INVESTOR & EARNINGS PRESENTATION Q3/9M FY-2024
Slide 3: Company Overview
COMPANY OVERVIEW Founded in 1977, the company has become a ONE OF THE LARGEST pioneer in recycling of End of Life Tyres in most Recycler of "End of Life Tyres" in Asia efficient and environment-friendly manner. FIRST TO MARKET & LARGEST PLAYER Our eco-friendly practices result in Zero Waste, For Rub
Slide 4: Journey So Far
JOURNEY SO FAR Group founded by Introduced light Commenced export Pioneered the Largest CRMB Set up waste Tyre Became the Completed Mr.Bhupinder Kumar weight rubber of Thermo Plastic concept of producer & entered recycling plant at largest acquisition of Sekhri. slippers Rubber Compounds rubberised
Slide 5: Waste to Wealth
WASTE TO WEALTH END OF LIFE TYRES 400%VALUE ADDITION TO WASTE (ELT) STEEL CRUMB RUBBER Beed Wires Scrap CRUMB RUBBER MODIFIER 30 MESH 40, 60, 80, 120, 170 MESH (CRM) for road top layer application Reclaim Rubber Steel Abrasives Steel Plants Tyres, Mats, Tyres,Mats, Conveyor Conveyor Belts, CRMB elts
Slide 6: Business Sectors
BUSINESS SECTORS SECTOR WISE REVENUE SHARING RATIO INFRASTRUCTURE INDUSTRIAL STEEL CONSUMER 49% 28% 16% 7% Roads Bitumen Roads Conveyor Belts Steel Abrasives Crumb Gym Tiles Rubber Infill Tyres Steel Scraps Automotive Rubber parts Mats * Percentage share is based on FY23 revenue contribution
Slide 7: Manufacturing Facilities
MANUFACTURING FACILITIES Panipat Europe (Haryana) Mathura Delhi (Uttar Pradesh) USA Middle Eastern Countries (Headquarters) INDIA OMAN Saham (Al Batnah) Haldia (West Bengal) Wada South Africa Australlia (Maharashtra) Chile Manufacturing facilities Gummidipoondi (Tamil Nadu) Source of End of life tyr
Slide 8: Board of Directors
BOARD OF DIRECTORS Mr. Bhupinder Kumar Sekhri Mr. Gaurav Sekhri Mr. Subodh Kumar Sharma Mrs. Bharati Chaturvedi Chairman & Managing Joint Managing Whole Time Director & Independent Director Director Director Chief Operating Officer Mr. Sanjay Jain Mr. Ashish Madan Mr. Ashok Kumar Sood Dr. Krishna Pr
Slide 9: Sector Wise Product Details and Growth Drivers
SECTOR WISE PRODUCT DETAILS AND GROWTH DRIVERS
Slide 10: Infrastructure Sector
INFRASTRUCTURE SECTOR CRUMB RUBBER/ CRUMB RUBBER MODIFIER BITUMEN EMULSION Blend of waste tire rubber, hydrocarbons, Manufactures all grades of Cationic Bitumen and cross-linkers. Emulsions meeting BIS standards. Mixed with bitumen in specific ratios State-of-the-art manufacturing plant from Offers
Slide 11: Infrastructure Sector TAM/Growth Drivers
INFRASTRUCTURE SECTOR TAM/GROWTH DRIVERS ADDRESSABLE MARKET New Road Construction Speed: 30 Kms Per Day Potential Market for CRMB: 7 Lakh MT Current Modified Bitumen Market: 1,50,000 to 2,00,00 MT (2% of total Bitumen Market) CONCLUSION: The high speed of new road construction combined with the pote
Slide 12: Industrial Sector
INDUSTRIAL SECTOR MICRONIZED RUBBER POWDER (80-140 MESH) Industrial Sector Sales (In INR Mn) 813 Tinna is one of the world's largest MRP producers. 683 607 Utilizes a indigenously developed Ambient Grinding Process 491 for production. With matured application in tyre/conveyor belts, MRP exhibits a p
Slide 13: Industrial Sector TAM/Growth Drivers
INDUSTRIAL SECTOR TAM/GROWTH DRIVERS INDIAN TYRE INDUSTRY CONVEYOR BELT INDUSTRY Opportunities for Reclaim Rubber in the Tyre Sector A vital part of Auto Sector, contributes to Global conveyor belt market projected to 3% of India's manufacturing GDP and grow at a CAGR of 6.0% during 2022-2027. 0.5%
Slide 14: Consumer Sector
CONSUMER SECTOR COATED RUBBER Crumb (CRC) Consumer Sector Sales (In INR Mn) 232 216 215 Coated Rubber Crumb (CRC) replaces virgin rubber compound. 168 Manufactured by treating Crumb Rubber with a proprietary mix of chemicals. Ideally suited for low tensile compounds, solid tyres, and agriculture tyr
Slide 15: Consumer Sector TAM/Growth Drivers
CONSUMER SECTOR TAM/GROWTH DRIVERS CRUMB RUBBER INDUSTRY Opportunities for Crumb Rubber & Reclaim RECLAIM RUBBER INDUSTRY Rubber in the Rubber Industry Floor mats application segment expected India is the world's 2nd largest Reclaim to grow rapidly in the forecast period. Potential Usage Potential R
Slide 16: Strategic Action Plan
Caring for Environment STRATEGIC ACTION PLAN
Slide 17: Vision 2027
VISION 2027 VISION 2027 10 CURRENT 30% + Locations 6* 22.24% ROCE Locations ROCE (1 under FY23 construction) 25% + 34% INR 295 Cr INR 900 Cr Revenue Revenues Revenues Revenue CAGR CAGR FY23 (Last 3 years) 88% 12.42% 33% + Profitability Growth EBITDA 18% Margin EBITDA Profitability FY23 FY23 Growth M
Slide 18: Return on Capital Employed
RETURN ON CAPITAL EMPLOYED 22.24% 20.67% Target ROCE 30% 9.94% ROCE Catalyst Growth in Value Added Product Supply 0.99% Streamlining Working Capital Enhanced Industry Dynamics FY20 FY21 FY22 FY23
Slide 19: Capacity Expansion
CAPACITY EXPANSION Tyre Crushing Capacity (MT) 250,000 200,000 2,50,000 150,000 MT PA Capacity planned by 100,000 FY 2027 80,000 72,000 FY22FY22 FY23 FY23 FY24E FY24E FY25E FY25E FY26E FY26E FY27E FY27E Projected Capacity
Slide 20: On Going Projects
ON GOING PROJECTS THERMO PLASTIC VARLE PLANT OMAN PLANT ELASTOMER PLANT Company ventures into recycling of Company ventures into making of Company has completed PCR (Passenger Car Radial) tyres. Thermo Plastic Elastomer (TPE) acquisition of its maiden overseas out of waste rubber & waste plastic fac
Slide 21: Key Strengths and Competitive Advantages
KEY STRENGTHS AND COMPETITIVE ADVANTAGES Operational Excellence Fully Integrated operations from ELT Collection to Recycled Material Production Aligned with GOI’s vision towards circular economy 99% Recovery from Tyres (Zero Waste) Strong Leadership and Very Low Attrition Rate Zero Liquid Discharge
Slide 22: Moats - Securing Our Leadership
MOATS-SECURING OUR LEADERSHIP Diversified Product Pan India Applications Presence 45 + Long-standing 45+ years of Exceptional Product industry experience Customization OEM Deep routed Approvals Procurement Network
Slide 23: Financial Performance
FINANCIAL PERFORMANCE For details, refer Financial Reports section
Slide 24: Q3-FY24 Quarterly Highlights
Q3-FY24 QUARTERLY HIGHLIGHTS Volume (In MT) Revenue from Operation (INR Mn) 40,934 930 34,483 797 752 27,623 19 %+ 24%+ Volume Revenue Y-o-Y Y-o-Y Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY24 Q3-FY24 PAT (INR Mn) & PAT Margin(%) 60.00% EBITDA (INR Mn) & EBITDA 60.00% 120 Margin (%) 88%+ 113%+ 50.00% 40.0
Slide 25: Q3/9M-FY24 Key Operational Highlights
Q3/9M-FY24 KEY OPERATIONAL HIGHLIGHTS SOURCING AND PLANT OPERATIONS: Raw Material prices remained stable in Q3. Red Sea impact on Raw Material prices are under watch , we expect Raw Material cost to increase in Q4. Tyre crushing is up by 20% on YOY basis SALES: Infrastructure Sector continues to gro
Slide 26: Quarterly Key Sector Performance
QUARTERLY KEY SECTOR PERFORMANCE Infrastructure Sector Industrial Sector Revenue (INR Mn) Revenue (INR Mn) 512 213 377 397 207 204 Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY24 Q3-FY24 Consumer Sector Steel Sector Revenue (INR Mn) Revenue (INR Mn) 86 93 110 115 110 50 Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY
Slide 27: Quarterly Financial Performance Charts
QUARTERLY FINANCIAL PERFORMANCE CHARTS Revenue from Operation (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) 930 156 752 %+ 797 130 83 16.77% 16.31% 11.04% Q3-FY23 Q2-FY24 Q3-FY24 Q3-FY23 Q2-FY24 Q3-FY24 60.00% PAT (INR Mn) & PAT Margin(%) Diluted EPS (INR) 120 50.00% 100 100 5.81 40.00% 76 80 4.45 30
Slide 28: Quarterly Consolidated Financial Performance
QUARTERLY CONSOLIDATED FINANCIAL PERFORMANCE Particulars (INR Mn) Q3 – FY24 Q3-FY23 Y-o-Y Q2 – FY24 Q-o-Q Operational Income 930 752 23.7% 797 16.7% Total Expenses 774 669 15.7% 667 16.0% EBITDA 156 83 88.0% 130 20.0% EBITDA Margins (%) 16.77% 11.04% 573 Bps 16.31% 46 Bps Other Income 2 17 (88.2)% 2
Slide 29: 9 Month Consolidated Financial Performance
9 MONTH CONSOLIDATED FINANCIAL PERFORMANCE Particulars (INR Mn) 9M–FY24 9M-FY23 Y-o-Y Operational Income 2,532 2,227 13.7% Total Expenses 2,131 1,933 10.2% EBITDA 401 294 36.4% EBITDA Margins (%) 15.84% 13.20% 264 Bps Other Income 8 28 (71.4)% Depreciation 45 60 (25.0)% Interest 50 56 (10.7)% Share
Slide 30: Historical Consolidated Income Statement
HISTORICAL CONSOLIDATED INCOME STATEMENT Particulars (INR Mn) FY21 FY22 FY23 9M-FY24 Operational Income 1,301 2,292 2,954 2,532 Total Expenses 1,127 1,923 2,587 2,131 EBITDA 174 369 367 401 EBITDA Margins (%) 13.37% 16.10% 12.42% 15.84% Other Income 17 34 61 8 Depreciation 79 86 71 45 Interest 96 90
Slide 31: Historical Consolidated Balance Sheet
HISTORICAL CONSOLIDATED BALANCE SHEET Particulars (INR Mn) FY22 FY23 H1 – FY24 Particulars (INR Mn) FY22 FY23 H1 – FY24 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 696 676 800 Share Capital 86 86 171 Capital WIP 6 3 18 Other Equity 688 874 889 Right of use Ass
Slide 32: Historical Financial Performance Charts - P&L Statement
HISTORICAL FINANCIAL PERFORMANCE CHARTS–P&L STATEMENT Revenue From Operations EBITDA (INR Mn) & EBITDA Margins (%) (INR Mn) 2,954 2,532 401 2,292 369 367 1,301 174 13.37% 16.10% 15.84% 12.42% FY21 FY22 FY23 9M-FY24 FY21 FY22 FY23 9M-FY24 EBITDA Percentage PAT and Cash Profit (INR Mn) Diluted EPS (IN
Slide 33: Historical Financial Performance Charts - Balance Sheet
HISTORICAL FINANCIAL PERFORMANCE CHARTS-BALANCE SHEET Net D/E (x) ROE (x) 23.65% 0.96 21.81% 0.86 0.59 0.54 -0.15% FY21 FY22 FY23 FY21 FY22 FY23 H1-FY24 Fixed Asset Turnover (x) Debt (INR Mn) & Interest Coverage Ratio (x) 900 8 4.26 6.7 800 7 660 690 3.4 700 587 6 600 606 5 500 3.53 4.7 4 1.8 400 3
Slide 34: Capital Market Data
CAPITAL MARKET DATA 1 Year Share Price Performance 200% 150% 100% 50% 0% -50% Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Tinna Rubbers & Infra Ltd BSE Price Data (As on 31st December, 2023) Shareholding Pattern (As on 31St December, 2023) Face Value (INR) 10.
Slide 35: A Holistic Approach to Business: Environment, Social, and Corporate Governance
A HOLISTIC APPROACH TO BUSINESS: ENVIRONMENT, SOCIAL, AND CORPORATE GOVERNANCE
Slide 36: Modern Recycling and Recovery for Sustainable Gains
MODERN RECYCLING AND RECOVERY FOR SUSTAINABLE GAINS CIRCULAR ECONOMY TRIL business is a prime example of success of circular 5 6 MAKE economy model which involves utilizing existing materials and Recycling Plants MILLION tyres products efficiently through recycling and reusing. back in circular REUS
Slide 37: Building a Better World
BUILDING A BETTER WORLD REVOLUTIONARY INDUSTRY: ACHIEVING 400% VALUE ADDITION TO WASTE CSR INITIATIVES CREATING AWARENESS We take pride in creating awareness We regularly also organize medical checkup, blood donation, and hygiene about circular economy and awareness camps. Our CSR initiatives are ma
Slide 38: Nurturing a Culture of Ethics, Accountability, & Transparency
NURTURING A CULTURE OF ETHICS, ACCOUNTABILITY, & TRANSPARENCY Ethical Business Practices: Our Ongoing Efforts to Cultivate Trust Among Shareholders, Employees, Customers, Suppliers, and Stakeholders through Principles of Strong Corporate Governance, including Integrity, Equity, Transparency, Fairnes
Slide 39: Global Recycle LLC, Oman - An Update
GLOBAL RECYCLE LLC ,OMAN - AN UPDATE Operations at Oman have doubled on Q-O-Q basis. Global Recycle turned EBIDTA Positive in Q2 and achieved Net Profit in Q3. Commenced Micronized Rubber Powder Production in Q3 which will add to profitability. MINISTRY OF ROAD TRANSPORT at Oman is showing interest
Slide 40: TP Buildtech Pvt. Ltd - An Update
TP BUILDTECH PVT. LTD – AN UPDATE COMPANY OVERVIEW LONG LONG -TERM CLIENTS WITH Established in 2012, specializing in Concrete Waterproofing Admixture, Cement HIGH REVENUE VISIBILITY Admixture, Superplasticizer Admixture, etc. Manufacturing units in Wada and Bawal, supported by exclusive R&D Centres
Slide 41: Financial Performance: Sale and EBITDA
FINANCIAL PERFORMANCE SALE AND EBITDA 7000 6083 6000 Amount in Lakhs 4682 4542 13% 5000 4000 9% 2799 7% 3000 3% 2000 435 412 606 1000 91 0 FY20-21 FY21-22 FY22-23 FY23-24(9 mon) Sale (INR) EBITDA (INR) EBITDA % Increase
Slide 42: Disclaimer
DISCLAIMER Tinna Rubber and Infrastructure Disclaimer: No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinio
Slide 43: Thank You
Lowcecee Caring for Environment THANK YOU
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