Kiri Industries Limited · NSE:KIRIINDUS
Kiri Industries — Q3 FY2019 Earnings Presentation
28 slides from Kiri Industries's earnings presentation, Feb 15, 2019
Slide 1: Kiri Industries Limited
CD Kiri Industries Limited ~{i:ft~ c~ t-<V••••• February 14, 2019 February 15, 2019 To, To, BSE Limited National Stock Exchange of India Limited 1 st Floor, Rotunda Building, Exchange Plaza, Bandra Kurla Complex, B.S. Marg, Fort, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 532967 Scrip
Slide 2: 9M / Q3-FY19 Earnings Presentation
Kiri Industries Limited 9M / Q3-FY19|EARNINGS PRESENTATION
Slide 3: Company Overview
2 Company Overview • Established in 1998, Kiri Industries Limited (KIL), Consolidated Revenue Break-up (INR Mn) is based out of Gujarat and has emerged as one of the largest manufacturers and exporters of a 4,517 4,722 3,681 wide range of Dyes, Dyes Intermediates and 4,678 4,117 Basic Chemicals from
Slide 4: About DyStar
3 About DyStar Total Revenue (USD Mn) KIL acquired Dystar in 2010, along with Zhenjiang 1,128 1,016 Longsheng holding 37.57% presently 938 898 822 871 • The DyStar Group is a leading dyestuff and chemical manufacturer and solution provider, offering a broad portfolio of colorants, specialty chemical
Slide 5: History
4 History COLORATION SPECIALIST FOUNDATION JOINT VENTURE OF: ACQUISITION: Bayer AG and Emerald Hoechst AG Performance (Textile dyes, ACQUISITION: FOUNDATION: Materials SOLUTION Ind. Color Solutions ACQUISITION: Sustainable Specialities SUSTAINABILITY LEADER PROVIDER Mitsubishi) International Texania
Slide 6: Value Creation in Dystar
5 Value Creation in Dystar Successfully turning around the operations of DyStar • The turn-around plan was successfully executed by replacing high cost German manufacturing base with low cost manufacturing in India, China and Indonesia, etc. • KIL is entitled to profit shares of INR 826 Mn, INR 1,97
Slide 7: 9M / Q3-FY19 Financial Highlights
6 9M / Q3-FY19 Financial Highlights Q3-FY19 Financial Highlights (Standalone) 9M-FY19 Financial Highlights (Standalone) • Total Revenue: INR 2,341 Mn • Total Revenue: INR 7,582 Mn • EBITDA: INR 317 Mn • EBITDA: INR 1,232 Mn • EBITDA Margin: 13.54% • EBITDA Margin: 16.24% • Net Profit: INR 221 Mn • N
Slide 8: Q3-FY19 Operational Highlights
7 Q3-FY19 Operational Highlights • Diversified portfolio of dyes, dyes intermediates and basic chemicals has been the key to achieve 30% business growth in Q3-FY19 Y-o-Y basis on standalone basis. • The standalone revenue and EBITDA from operations have increased by 30% and 26% respectively on Y-o-Y
Slide 9: Q3-FY19 Operational Highlights
8 Q3-FY19 Operational Highlights • In the recent past KIL has commenced production of certain types of Naphthalene and Aniline based intermediates which would add to its core profitability. In addition, increasing business of Disperse Dyes shall support the company to expand its foothold and further
Slide 10: Q3-FY19 Financial Highlights
Q3-FY19 Financial Highlights
Slide 11: Q3-FY19 Standalone Income Statement
10 Q3-FY19 Standalone Income Statement PARTICULARS (INR Mn) Q3-FY19 Q3-FY18 Y-o-Y Q2-FY19 Q-o-Q Total Income* 2,341 1,812 29.2% 2,833 (17.4)% Total Expenses 2,024 1,562 29.6% 2,341 (13.5)% EBITDA 317 250 26.8% 492 (35.5)% EBITDA Margin 13.54% 13.80% (26) Bps 17.36% (382) Bps Depreciation 77 59 30.5%
Slide 12: Q3-FY19 - Standalone Financial Highlights
11 Q3-FY19 - Standalone Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 2,500 2,341 400 1,812 317 2,000 300 250 1,500 200 1,000 500 100 0 0 Q3-FY18 Q3-FY19 Q3-FY18 Q3-FY19 EBITDA Margin & PAT Margin PAT (INR Mn) 15.00% 13.80% 13.54% 250 221 200 175 9.66% 9.44% 10.00% 150 100 5.00% 50 0 0
Slide 13: Q3-FY19 - Consolidated Income Statement
12 Q3-FY19 - Consolidated Income Statement PARTICULARS (INR Mn) Q3-FY19 Q3-FY18 Y-o-Y Q2-FY19 Q-o-Q Total Income* 3,020 2,481 21.7% 3,734 (19.1)% Total Expenses 2,580 2,065 24.9% 3,002 (14.1)% EBITDA 440 416 5.8% 732 (39.9)% EBITDA Margin 14.57% 16.77% (220) Bps 19.60% (503)Bps Depreciation 99 78 26
Slide 14: Q3-FY19 - Consolidated Financial Highlights
13 Q3-FY19 - Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 4,000 440 3,020 440 3,000 2,481 416 420 2,000 1,000 400 0 380 Q3-FY18 Q3-FY19 Q3-FY18 Q3-FY19 PAT (INR Mn) EBITDA Margin & PAT Margin 282 274 20.00% 16.77% 14.57% 274 15.00% 267 266 10.00% 11.04% 8.84% 258 5.00% 25
Slide 15: 9M-FY19 Financial Highlights
9M-FY19 Financial Highlights
Slide 16: 9M-FY19 - Standalone Income Statement
15 9M-FY19 - Standalone Income Statement PARTICULARS (INR Mn) 9M-FY19 9M-FY18** Y-o-Y Total Income* 7,582 6,484 16.9% Total Expenses 6,350 5,469 16.1% EBITDA 1,232 1,015 21.4% EBITDA Margin 16.24% 15.65% 59 Bps Depreciation 202 177 14.1% Finance Cost 32 6 433.3% PBT 998 832 20.0% Tax 17 53 (67.9)% P
Slide 17: 9M-FY19 - Standalone Financial Highlights
16 9M-FY19- Standalone Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 8,000 7,582 1,500 1,232 7,500 1,015 1,000 7,000 6,484 6,500 500 6,000 5,500 0 9M FY-18 9M FY-19 9M FY-18 9M FY-19 PAT (INR Mn) EBITDA Margin & PAT Margin 1,500 20.00% 16.24% 981 15.65% 1,000 779 15.00% 10.00% 12.01% 1
Slide 18: 9M-FY19 - Consolidated Income Statement
17 9M-FY19 - Consolidated Income Statement PARTICULARS (INR Mn) 9M-FY19 9M-FY18** Y-o-Y Total Income* 10,092 8,077 24.9% Total Expenses 8,239 6,705 22.9% EBITDA 1,853 1,372 35.1% EBITDA Margin 18.36% 16.98% 138 Bps Depreciation 269 233 15.5% Finance Cost 40 25 60.0% PBT 1,544 1,114 38.6% Tax 231 143
Slide 19: 9M-FY19 - Consolidated Financial Highlights
18 9M-FY19- Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 15,000 2,000 1,853 10,092 1,500 1,372 10,000 8,077 1,000 5,000 500 0 0 9M-FY18 9M-FY19 9M-FY18 9M-FY19 PAT (INR Mn) EBITDA Margin & PAT Margin 1,500 1,313 18.36% 20.00% 16.98% 971 1,000 15.00% 10.00% 12.02% 13.01% 5
Slide 20: Historical Financials
> NP HISTORICAL FINANCIALS
Slide 21: Standalone Income Statement
20 Standalone Income Statement PARTICULARS (INR Mn) FY15 FY16 FY17 FY18 Total Income* 7,826 8,967 10,355 9,046 Total Expenses 7,116 8,064 9,059 7,712 EBITDA 710 903 1,296 1,334 EBITDA Margin 9.07% 10.07% 12.52% 14.75% Depreciation 202 204 222 250 Finance Cost 844 672 80 17 Exceptional Items - (47) -
Slide 22: Standalone Balance sheet
21 Standalone Balance sheet PARTICULARS (INR Mn) FY17 FY18 H1-FY19 PARTICULARS (INR Mn) FY17 FY18 H1-FY19 Equity 3,941 5,109 5,868 Non Current Assets 5,289 5,424 5,778 Equity Share Capital 278 302 313 a) Property, Plant and Equipment 3,048 3,485 3,419 Other Equity 3,663 4,807 5,555 b) Other Intangib
Slide 23: Consolidated Income Statement
22 Consolidated Income Statement PARTICULARS (INR Mn) FY15 FY16 FY17 FY18 Total Income* 9,328 10,427 12,007 11,368 Total Expenses 8,313 9,173 10,393 9,542 EBITDA 1,015 1,254 1,614 1,826 EBITDA Margin 10.88% 12.03% 13.44% 16.06% Depreciation 284 269 291 341 Finance Cost 863 738 91 35 Exceptional Item
Slide 24: Consolidated Balance sheet
23 Consolidated Balance sheet PARTICULARS (INR Mn) FY17 FY18 H1-FY19 PARTICULARS (INR Mn) FY17 FY18 H1-FY19 Equity 10,324 14,047 16,018 Non Current Assets 11,615 14,156 15,391 Equity Share Capital 278 302 313 a) Property, Plant and Equipment 3,668 4,033 3,934 Other Equity 10,046 13,745 15,705 b) Oth
Slide 25: Consolidated Financial Highlights
24 Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) & PAT(INR Mn) & PAT Margins EBITDA Margins 12,007 11.15% 16.06% 9.12% 11,368 13.44% 12.03% 10,427 2.46% 1,254 1,614 1,826 257 1,095 1,267 FY16 FY17 FY18 FY16 FY17 FY18 FY16 FY17 FY18 RoE and RoCE Net Debt : Equity Net Worth
Slide 26: Capital Markets
25 Capital Markets Share Price Data as on 31st Dec , 2018 40% Kiri Sensex 30% 20% 10% 0% -10% -20% -30% Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Price Data (31st Dec, 2018) INR Shareholding Pattern as on 31st Dec, 2018 Face Value 10.00 Market Price 447.10 P
Slide 27: Disclaimer
26 Disclaimer Kiri Industries Limited Disclaimer: The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable laws and regulations as amended from time to time. There is no representation that a
Slide 28: Thank You
THANK YOU