Apar Industries Limited · NSE:APARINDS
Apar Industries — Q2 FY2023 Earnings Presentation
27 slides from Apar Industries's earnings presentation, Nov 3, 2022
Slide 1: Exchange filing cover letter: Investor Update Q2FY23
SEC/0311/2022 November 3, 2022 National Stock Exchange of India Ltd. BSE Ltd. “Exchange Plaza”, Corporate Relationship Department, C-1, Block G, 27th Floor, Phiroze Jeejeebhoy Towers, Bandra- Kurla Complex, Dalal Street, Bandra (E), Fort, Mumbai – 400 051. Mumbai - 400 001. Scrip Symbol : APARINDS S
Slide 2: Earnings Call Update Q2 FY 2023
EARNINGS CALL UPDATE Q2 FY 2023
Slide 3: Table of contents
Table of contents 04 FINANCIAL OVERVIEW 15 ANNEXURES
Slide 4: Safe harbour
Safe harbour This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of APAR Industries Ltd., its outlook and growth prospects. The actual results may differ materially from these forward-looking statements due to se
Slide 5: Financial Overview
FINANCIAL OVERVIEW
Slide 6: Q2 FY23: Strongest revenue quarter, sequential momentum continues
Q2 FY23: Strongest revenue quarter, sequential momentum continues Revenue EBITDA PAT 43% YoY 82% YoY 80% YoY INR 3,235 crore INR 237 crore INR 103 crore Margin at 7.3% up 160 bps YoY Margin at 3.2% up 70 bps YoY o Q2 FY23 revenue up 43% YoY with growths coming in from all the three business division
Slide 7: H1 FY23: Historically high half-year revenue
H1 FY23: Historically high half-year revenue Revenue EBITDA PAT 55% YoY 77% YoY 89% YoY INR 6,328 crore INR 476 crore INR 225 crore Margin at 7.5% up 90 bps YoY Margin at 3.6% up 70 bps YoY o H1 FY23 revenue up 55% YoY with growths coming in from all the three business divisions on the back of Segme
Slide 8: Conductors: Q2 FY23 highlights
Conductors: Q2 FY23 highlights Revenue Volume EBITDA 33% YOY 4% YOY 143% YOY INR 1,439 crore 30,227 MT INR 123 crore INR 51 crore (Q2FY22) Margin at 8.5%; 4.7% (Q2FY22) EBITDA per MT EBITDA post adj* EBITDA* per MT 134% YOY 135% YOY 127% YOY INR 40,531 INR 118 crore INR 39,108 INR 17,303 (Q2FY22) IN
Slide 9: Conductors: H1 FY23 highlights
Conductors: H1 FY23 highlights Revenue Volume EBITDA 70% YOY 29% YOY 144% YOY INR 2,987 crore 66,104 MT INR 207 crore INR 85 crore (H1FY22) Margin at 6.9%; 4.8% (H1FY22) EBITDA per MT EBITDA post adj* EBITDA* per MT 88% YOY 142% YOY 87% YOY INR 31,380 INR 197 crore INR 29,786 INR 16,657 (H1FY22) INR
Slide 10: Speciality Oils & Lubricants: Q2 FY23 highlights
Speciality Oils & Lubricants : Q2 FY23 highlights Revenue Volume EBITDA 31% YOY 0.5% YOY 2% YOY INR 1,176 crore 1,13,360 KL INR 58 crore INR 56 crore (Q2FY22) Margin at 4.9%; 6.3% (Q2FY22) EBITDA per KL EBITDA post adj* EBITDA* per KL 3% YOY 13% YOY 14% YOY INR 5,083 INR 52 crore INR 4,550 INR 4,942
Slide 11: Speciality Oils & Lubricants: H1 FY23 highlights
Speciality Oils & Lubricants : H1 FY23 highlights Revenue Volume EBITDA 30% YOY 0.1% YOY 21% YOY INR 2,244 crore 2,28,719 KL INR 176 crore INR 146 crore (H1FY22) Margin at 7.8%; 8.4% (H1FY22) EBITDA per KL EBITDA post adj* EBITDA* per KL 20% YOY 13% YOY 13% YOY INR 7,683 INR 164 crore INR 7,154 INR
Slide 12: Lubricants: Q2 FY23 highlights
Lubricants : Q2 FY23 highlights Revenue Volume 1.9% YOY 1.3% YOY INR 207 crore 16,595 KL o Revenue is flat in Q2 FY23 vs Q2FY22 o Industrial volume up 24% YoY , Automotive volume down by 11% YoY due to demand compression across all specialty oil and lubricant categories in India and in all the marke
Slide 13: Lubricants: H1 FY23 highlights
Lubricants : H1 FY23 highlights Revenue Volume 14% YOY 11% YOY INR 424 crore 34,213 KL o Revenue up 14% YoY driven by growth of industrial and automotive volumes o Industrial volume up 27% YoY , Automotive volume up 5% YoY across the board due to lower base last year (COVID disruptions), however, re
Slide 14: Cables: Q2 FY23 highlights
Cables : Q2 FY23 highlights Revenue EBITDA EBITDA post adj* 79% YOY 302% YOY 300% YOY INR 762 crore INR 72 crore INR 70 crore INR 18 crore (Q2FY22) INR 17 crore (Q2FY22) Margin at 9.4%; 4.2% (Q2FY22) Margin at 9.2%; 4.1% (Q2FY22) o Revenue up by 79% YoY due to significant increase in Elastomeric pro
Slide 15: Cables: H1 FY23 highlights
Cables : H1 FY23 highlights Revenue EBITDA EBITDA post adj* 70% YOY 181% YOY 180% YOY INR 1,399 crore INR 123 crore INR 118 crore INR 44 crore (H1FY22) INR 42 crore (H1FY22) Margin at 8.8%; 5.3% (H1FY22) Margin at 8.5%; 5.1% (H1FY22) o Revenue up by 70% YoY due to significant increase in Elastomeric
Slide 16: Annexures
ANNEXURES
Slide 17: Q2 FY23: Consolidated Profit & Loss Statement
Q2 FY23: Consolidated Profit & Loss Statement Particulars Q2FY23 Q2FY22 % Chg YoY Q1FY23 % Chg QoQ Gross sales 3,215.8 2,262.4 42.1% 3,083.4 4.3% Other Operating Income 19.1 6.7 185.2% 9.8 94.3% Total Operating Income 3,234.9 2,269.1 42.6% 3,093.2 4.6% Total Expenditure 3,009.0 2,141.5 40.5% 2,855.8
Slide 18: Q2 FY23: Consolidated Segment Analysis
Q2 FY23: Consolidated Segment Analysis Segment 2 Q2FY23 Q2FY22 % Chg YoY Q1FY23 % Chg QoQ Revenue Conductors 1,438.9 1,080.6 33.2% 1,548.2 -7.1% Transformer & Specialty Oils 1,175.8 895.2 31.3% 1,068.0 10.1% Power & Telecom Cables 761.6 425.2 79.1% 637.8 19.4% Others/Unallocated 23.5 16.0 46.5% 23.5
Slide 19: Q2 FY23: Consolidated Segment Analysis
Q2 FY23: Consolidated Segment Analysis Segment Q2FY23 Q2FY22 % Chg YoY Q1FY23 % Chg QoQ Segment Results before Interest and Tax Conductors 113.3 50.3 125.3% 77.4 46.4% Transformer & Specialty Oils 51.6 54.7 -5.6% 112.5 -54.1% Power and Telecom Cables 63.8 10.8 491.7% 44.4 43.9% Others/Unallocated 1.
Slide 20: Q2 FY23: Financials
Q2 FY23: Financials Key Ratios Q2FY23 Q2FY22 Q1FY23 EBITDA Margin 7.3% 5.8% 7.7% Net Margin 3.2% 2.5% 4.0% Total Expenditure/ Total Net Operating Income 93.0% 94.4% 92.3% Raw Material Cost/ Total Net Operating Income 75.8% 78.1% 75.6% Staff Cost/ Total Net Operating Income 1.6% 1.8% 1.6% Other Expen
Slide 21: H1 FY23: Consolidated Profit & Loss Statement
H1 FY23: Consolidated Profit & Loss Statement Particulars H1FY23 H1FY22 % Chg YoY Gross sales 6,299.2 4,065.5 54.95% Other Operating Income 28.9 13.3 118.11% Total Operating Income 6,328.1 4,078.7 55.15% Total Expenditure 5,864.8 3,821.9 53.45% Cost of Raw Materials 4,789.1 3,136.5 52.69% Employees
Slide 22: H1 FY23: Consolidated Segment Analysis
H1 FY23: Consolidated Segment Analysis Segment 2 H1FY23 H1FY22 % Chg YoY Revenue Conductors 2,987.1 1,760.1 69.7% Transformer & Specialty Oils 2,243.8 1,726.8 29.9% Power & Telecom Cables 1,399.4 824.9 69.6% Others/Unallocated 47.0 26.6 76.4% Total 6,677.2 4,338.5 53.9% Less: Inter - Segment Revenue
Slide 23: H1 FY23: Consolidated Segment Analysis
H1 FY23: Consolidated Segment Analysis Segment H1FY23 H1FY22 % Chg YoY Segment Results before Interest and Tax Conductors 190.7 69.2 175.4% Transformer & Specialty Oils 164.1 140.3 16.9% Power and Telecom Cables 108.2 29.5 267.3% Others/Unallocated 1.9 1.5 23.2% Total 464.8 240.5 93.3% Less : Financ
Slide 24: H1 FY23: Financials
H1 FY23: Financials Key Ratios H1FY23 H1FY22 EBITDA Margin 7.6% 6.6% Net Margin 3.6% 2.9% Total Expenditure/ Total Net Operating Income 92.7% 93.7% Raw Material Cost/ Total Net Operating Income 75.7% 76.9% Staff Cost/ Total Net Operating Income 1.6% 2.1% Other Expenditure/ Total Net Operating Income
Slide 25: Consolidated Balance Sheet Statement as on Sept 30, 2022
Consolidated Balance Sheet Statement as on Sept 30, 2022 Particulars H1FY23 H1FY22 Particulars H1FY23 H1FY22 ASSETS 831.41 817.50 EQUITY AND LIABILITIES Non-current assets 62.92 62.26 Equity Property, Plant and Equipment 98.18 38.33 Equity share capital 38.27 38.27 Right-of-use asset 1.42 1.48 Other
Slide 26: Consolidated Cash Flow Statement as on Sept 30, 2022
Consolidated Cash Flow Statement as on Sept 30, 2022 Particulars H1FY23 H1FY22 Cash flow from operating activities Profit before tax 296.55 156.19 Adjustments for Depreciation on non current assets 48.81 43.79 Amortisation of intangible assets 0.94 0.54 Amortisation of Right of use assets 1.23 3.81
Slide 27: Thank You
Mr. Sanjaya Kunder Mr. Nihar Mehta / Mr. Mohit Joshi Contact No : +91 22 67800400 Contact No : +91 99202 52534 / +91 99302 06777 E-mail – sr.kunder@apar.com E-mail – nihar@s-ancial.com/ mohit@s-ancial.com Add: APAR house, Bldg no. 4 & 5, Corporate #215, Shiv Shakti Industrial Estate, 2Nd Floor, Park