Slide 1: Exchange filing cover letter for earnings call presentation
The Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Ist Floor , New Trading Ring Rotunda Bandra-Kurla Complex Building, P.J. Towers Bandra (E) Dalal Street, Mumbai 400 051 Mumbai 400 001 Scrip Code- 503806 Scrip Code-SRF SRF/SEC/BSE/NSE 09th M
Slide 2: Q4 & FY24 Results Presentation
Q4 & FY24 Results Presentation SRF Limited 9 May 2024 SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.
Slide 3: Disclaimer
Disclaimer Some statements in this document may be forward-looking. Such statements are subject to certain risks and uncertainties like regulatory changes, local, political or economic developments, and many other factors that could cause actual results to differ materially from those contemplated b
Slide 4: Table of Contents
04 CONTENTS TABLE OF COMPANY OVERVIEW 10 Q4 & FY24 RESULTS OVERVIEW 15 Q4 & FY24 SEGMENTAL PERFORMANCE 31 OUTLOOK SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 3
Slide 5: Company Overview
01. Company Overview SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 4
Slide 6: Snapshot
Snapshot Exports to Operations in 16 ~9,000 ₹ 13,139 cr. 100+ 4 Manufacturing Global Workforce Revenue Countries Countries Facilities 34% 48% 18% ₹ 2,744 cr. ₹ 1,336 cr. Packaging Chemicals Technical Textiles & EBITDA PAT Others Note: On Consolidated basis as on 31st March 2024 SRF - General [Restri
Slide 7: Overview - Business Profile
Overview - Business Profile Specialty Chemicals Films for Flexible • Intermediates for AI / Packaging API / Specialized • Bi-axially Oriented Applications Polyethylene • Contract Development Terephthalate (BOPET) and Manufacturing • Bi-axially Oriented Chemicals Polypropylene (BOPP) Packaging • Alum
Slide 8: Manufacturing Facilities
Manufacturing Facilities FLUOROCHEMICALS & SPECIALTY CHEMICALS LAMINATED FABRICS 2 National Operations 1 National Operation 1. Rajasthan, India - Bhiwadi 1. Uttarakhand, India - Kashipur 2. Gujarat, India - Dahej TECHNICAL TEXTILES COATED FABRICS 1 4 National Operations 1 1 National Operation 1. Mad
Slide 9: Market Leadership Across Businesses
Market Leadership Across Businesses Specialty Chemicals Fluorochemicals Packaging Films Technical Textiles • Established relationship with • Unique and fully integrated • Recognized for expertise in • Domestic market leader in Tyre marquee customers facilities extending across a developing, manufact
Slide 10: Growth Levers
Growth Levers Focus on building leadership businesses Build and maintain market leadership in business segments Nurture innovation through R&D Reposition portfolio towards knowledge-based products Focus on building high-end value-added products Continue to build new competencies in the Chemicals Tec
Slide 11: Q4 & FY24 Results Overview
02. Q4 & FY24 Results Overview SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 10
Slide 12: Abridged Results Overview
Abridged Results Overview Consolidated figures Particulars (Rs. Crore) Q4 FY24 Q4 FY23 % Y-o-Y FY24 FY23 % Y-o-Y Gross Operating Revenue 3,569.7 3,778.1 -5.5% 13,138.5 14,870.3 -11.6% EBITDA 735.0 981.9 -25.1% 2,743.8 3,708.1 -26.0% EBITDA Margin (%) 20.6% 26.0% 20.9% 24.9% Depreciation 185.9 154.6
Slide 13: Results Overview - Financial Overview
Results Overview - Financial Overview Consolidated figures Key Financial Ratios PARTICULARS FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 EBITDA Margin 20.43% 22.13% 21.42% 17.69% 19.00% 20.90% 26.05% 25.30% 24.94% 20.88% PAT Margin 8.78% 9.51% 10.87% 8.38% 8.33% 12.70% 14.26% 15.19% 14.54% 10.1
Slide 14: Results Overview - Revenue Share
Results Overview - Revenue Share (Rs. Crore) Q4 FY24 Q4 FY23 FY24 FY23 Total – 3,573.4 Total – 3,779.7 Total – 13,149.7 Total – 14,880.1 106.2 94.3 465.3 392.6 430.7 1,893.9 468.9 3.0% 2.5% 1,898.0 3.5% 2.6% 13.1% 11.4% 14.4% 12.7% 50.8% 47.9% 49.8% 30.5% 55.6% 33.1% 34.8% 34.1% 1,182.4 1,816.0 1,15
Slide 15: Results Overview - EBIT Share
Results Overview - EBIT Share (Rs. Crore) Q4 FY24 Q4 FY23 FY24 FY23 Total – 616.1 Total – 839.9 Total – 2,201.1 Total – 3,193.4 15.6 34.8 48.4 11.3 93.0 261.7 69.8 2.5% 41.0 1.3% 274.2 556.2 4.2% 1.1% 11.3% 5.8% 8.2% 33.1 4.9% 12.5% 5.4% 17.4% 206.5 9.4% 73.3% 80.8% 73.9% 88.0% 497.7 739.3 1,627.4 2
Slide 16: Q4 & FY24 Segmental Performance
03. Q4 & FY24 Segmental Performance Chemicals Packaging Technical Others Films Textiles SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 15
Slide 17: Chemicals Business
Chemicals Business SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 16
Slide 18: Chemicals Business - Results Update
Chemicals Business - Results Update Consolidated figures PARTICULARS Q4 FY24 Q4 FY23 % Y-o-Y FY24 FY23 % Y-o-Y Segment Revenues 1,816.0 2,101.7 -13.6% 6,297.0 7,410.9 -15.0% % Contribution to Revenues 50.8% 55.6% 47.9% 49.8% EBIT 497.7 739.3 -32.7% 1,627.4 2,340.7 -30.5% % EBIT Margins 27.4% 35.2% 2
Slide 19: Chemicals Business - Specialty Chemicals Key Highlights
Chemicals Business Specialty Chemicals Business - Key Highlights Market Trends • Business reported an improved performance compared to Q3FY24 despite a subdued external environment • Demand outlook remains strong in the medium to- • Margin expansion witnessed over Q3FY24 through enhanced focus long
Slide 20: Chemicals Technology Group
Chemicals Business Chemicals Technology Group • Chemicals Technology Group (CTG) is actively engaged in the development of new process technologies • Key focus on high end molecules • Strong internal competencies and capabilities • Equipped with state-of-the-art R&D facilities and an ingenious team
Slide 21: Fluorochemicals Business - Key Highlights
Chemicals Business Fluorochemicals Business - Key Highlights Market Trends • Segment reported subdued performance owing to: o Pricing pressure impacting sales volumes, due to Chinese • Certain Industrial chemicals going through a dumping in both Indian and global markets downturn; witnessing some si
Slide 22: Packaging Films Business
Business Packaging Films SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 21
Slide 23: Packaging Films Business - Results Update
Packaging Films Business - Results Update Consolidated figures PARTICULARS Q4 FY24 Q4 FY23 % Y-o-Y FY24 FY23 % Y-o-Y Segment Revenues 1,182.4 1,153.1 2.5% 4,489.3 5,182.8 -13.4% % Contribution to Revenues 33.1% 30.5% 34.1% 34.8% EBIT 33.1 41.0 -19.3% 206.5 556.2 -62.9% % EBIT Margins 2.8% 3.6% 4.6%
Slide 24: Packaging Films Business - Key Highlights
Packaging Films Business Key Highlights Market Trends • Margin pressure in BOPET continues • Continued emphasis on strengthening of VAP portfolio showing • Margins faced pressure in India and globally due to major success new capacity additions • Prioritizing operational efficiencies and cost optimi
Slide 25: Technical Textiles Business
Business Technical Textiles SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 24
Slide 26: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Consolidated figures PARTICULARS Q4 FY24 Q4 FY23 % Y-o-Y FY24 FY23 % Y-o-Y Segment Revenues 468.9 430.7 8.9% 1,898.0 1,893.9 0.2% % Contribution to Revenues 13.1% 11.4% 14.4% 12.7% EBIT 69.8 48.4 44.3% 274.2 261.7 4.8% % EBIT Margins 14.9% 11.2% 14.4% 13.
Slide 27: Technical Textiles Business - Key Highlights
Technical Textiles Business Key Highlights Market Trends • Business witnessed stable performance owing to: o Steady domestic NTCF demand during the year • Growth expected in the TCF segment in FY25 o Belting Fabric (BF) and Polyester Industrial Yarn (PIY) driven by expanded tyre production compared
Slide 28: Others
Others SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 27
Slide 29: Others - Results Update
Others - Results Update Consolidated figures PARTICULARS Q4 FY24 Q4 FY23 % Y-o-Y FY24 FY23 % Y-o-Y Segment Revenues 106.2 94.3 12.6% 465.3 392.6 18.5% % Contribution to Revenues 3.0% 2.5% 3.5% 2.6% EBIT 15.6 11.3 37.3% 93.0 34.8 167.1% % EBIT Margins 14.7% 12.0% 20.0% 8.9% % Contribution to EBIT 2.5
Slide 30: Others - Key Highlights
Others - Key Highlights Coated Fabrics • SRF maintained its leading position in the domestic market in terms of volume & price • Highest-ever domestic sales and EBIDT driven by strong demand • Growth witnessed in VAPs. Business to focus on new product segments to drive further growth Laminated Fabri
Slide 31: SRF's Community Engagement
SRF’s Community Engagement • Under the digital literacy program (in collaboration with Capgemini), 1564, 1167, 916, and 306 beneficiaries were trained in digital skills at the Chennai, Bengaluru, Gurugram, and Noida locations respectively. All trainees were awarded completion certificates in March 2
Slide 32: Outlook
04. Outlook SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only. 31
Slide 33: Outlook - Chemicals Business
Outlook - Chemicals Business Specialty Chemicals • Agrochemicals segment customer enquiries remains robust • Work on AIs progressing as per plan • Product funnel remains strong • Focus on ramp up of commissioned dedicated facilities in FY’24 to drive growth • Tech interventions in reducing costs / s
Slide 34: Outlook - Packaging Films Business
Outlook - Packaging Films Business • Expect ongoing demand-supply imbalance and margin pressures to continue in BOPET in the short to medium term • BOPP to perform relatively better • Enhance capabilities in new product development • Newly commissioned Aluminium Foil facility to contribute positivel
Slide 35: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business • Growth in domestic NTCF market to be driven by higher demand in 2/3- wheeler and PV segments • Higher BF & PIY demand due to increased government infrastructure spending • Focus on high-end VAPs in BF and expanded capacity to be the future growth driver SRF -
Slide 36: About Us
About Us In 2024, SRF Limited proudly commemorates 50 years of manufacturing excellence. Since the inauguration of SRF’s first plant in 1974, the company has evolved into a manufacturing powerhouse with businesses spanning multiple verticals. For further information please contact With an annual tur
Slide 37: Thank You
THANK YOU SRF - General [Restricted use] - This mail, document can be used by recipients for its intended purpose only.