Slide 1: Exchange filing cover letter for earnings call presentation
SRF The Corporate Relationship Department, National Stock Exchange of India Limited BSE Limited "Exchange Plaza" 1st Floor , New Trading Ring Rotunda Bandra-Kurla Complex Building, P.J. Towers Bandra (E) Dalai Street, Mumbai 400 051 Mumbai 400 001 Scrip Code- 503806 Scrip Code-SRF SRF/SEC/BSE/NSE le
Slide 2: Q4 & FY19 Results Presentation
SRF Limited We always find a better way May 14, 2019 Q4 & FY19 Results Presentation
Slide 3: Disclaimer
Disclaimer Certain statements in this document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ ma
Slide 4: Contents
Contents Q4 & FY19 Results Overview 04 Q4 & FY19 Segmental Performance 09 Company Overview 24 Outlook 27 3
Slide 5: Q4 & FY19 Results Overview
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Slide 6: Results Overview - Financial Overview
Results Overview - Financial Overview Abridged Statement of Profit & Loss (Rs. crore) Q4 FY19 Q4 FY18 % Y-o-Y FY19 FY18 % Y-o-Y Gross Operating Revenue 2,072.0 1,612.3 28.5% 7,692.7 5,684.9 35.3% EBITDA 405.4 285.6 41.9% 1,419.2 975.0 45.5% EBITDA Margin (%) 19.6% 17.7% 185 BPS 18.4% 17.2% 130 BPS D
Slide 7: Results Overview - Key Financial Ratios
Results Overview - Financial Overview Key Financial Ratios Particulars FY13 FY14 FY15 FY16 FY17 FY18 FY19 EBITDA margin 17.59% 13.59% 20.43% 22.13% 21.42% 17.69% 18.82% PAT Margin 6.69% 4.04% 8.78% 9.51% 10.87% 8.38% 8.51% Net Debt to Equity 0.71 1.01 0.99 0.73 0.67 0.82 0.83 Net Debt to EBITDA 2.06
Slide 8: Results Overview - Revenue & EBIT
Results Overview - Revenue & EBIT Revenues (Rs. crore) EBIT (Rs. crore) 840.0 166.0 623.1 506.6 526.7 92.4 105.7 481.5 462.2 72.3 66.8 56.3 128.7 118.1 10.7 10.5 TTB CB PFB Others TTB CB PFB Others Q4 FY19 Q4 FY18 Q4 FY19 Q4 FY18 2,653.3 2,445.4 411.5 384.3 2,074.2 1,838.8 1,782.3 298.2 1,611.4 252.
Slide 9: Results Overview - Revenue Share
Results Overview - Revenue Share Q4FY19 Q4 FY18 6.2% 23.2% 7.3% 28.6% 30.1% 32.6% 40.5% 31.4% CB PFB FY19 FY18 6.8% 8.0% TTB 34.5% 26.9% Others 32.3% 31.3% 31.8% 28.3% CB – Chemicals Business; PFB - Packaging Films Business; TTB – Technical Textiles Business; Others 8
Slide 10: Q4 & FY19 Segmental Performance
Packaging Technical Chemicals Others Films Textiles
Slide 11: Chemicals Business
Ghemicals Business
Slide 12: Chemicals Business - Results Update
Chemicals Business - Results Update Segment % Contribution % Contribution (Rs. Crore) EBIT % EBIT Margins Revenues to Revenues to EBIT Q4 FY19 840.0 40.5% 166.0 19.8% 49.0% Q4 FY18 506.6 31.4% 92.4 18.2% 38.2% % Shift 65.8% 79.7% FY19 2,445.4 31.8% 384.3 15.7% 33.7% FY18 1,611.4 28.3% 269.4 16.7% 33
Slide 13: Chemicals Business - Key Highlights (Fluorochemicals)
Chemicals Business - Key Highlights Fluorochemicals Business • Globally, SRF is one of the few fully integrated HFC players • unique advantage of backward integration of all major HFCs, - HFC134a, HFC 32 and HFC 125 • The segment reported healthy performance during the quarter on account of: • Highe
Slide 14: Chemicals Business - Key Highlights (Specialty Chemicals)
Chemicals Business - Key Highlights Specialty Chemicals Business • Demand revival in Agro-Chemical industry witnessed • As indicated, Segment reported higher sales during the quarter • New product opportunities emerging in the Agro side • Pharma segment continues to sustain positive trajectory • Suc
Slide 15: Chemicals Business - Chemicals Technology Group
Chemicals Business - Key Highlights Chemicals Technology Group Chemicals Technology Group (CTG) is actively engaged in the development of new process technologies – Key focus on the niche area of fluorinated molecules Strong internal competencies and capabilities – Equipped with state-of-the-art R&D
Slide 16: Packaging Films Business
acKkaging Films Business
Slide 17: Packaging Films Business - Results Update
Packaging Films Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q4 FY19 623.1 30.1% 17.0% 31.2% 105.7 Q4 FY18 526.7 32.6% 13.7% 29.9% 72.3 % Shift 18.3% 46.1% FY19 34.5% 15.5% 36.1% 2,653.3 411.5 FY18 31.3% 12.9% 28.9% 1,78
Slide 18: Packaging Films Business - Key Highlights
Packaging Films Business - Key Highlights Packaging Films Business • Segment delivered strong performance during the quarter, reporting highest ever profitability • Healthy contribution from new capacities • All plants performed exceedingly well leading to higher volumes and better margins • Focus c
Slide 19: Technical Textiles Business
Technical Textiles Business 18
Slide 20: Technical Textiles Business - Results Update
Technical Textiles Business - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q4 FY19 481.5 23.2% 11.7% 16.6% 56.3 Q4 FY18 28.6% 14.4% 27.6% 462.2 66.8 % Shift 4.2% (15.6%) FY19 26.9% 14.4% 26.1% 2,074.2 298.2 FY18 32.3% 13.8% 31.8% 1
Slide 21: Technical Textiles Business - Key Highlights
Technical Textiles Business - Key Highlights Tyre Cord Fabric (TCF) • Stable performance despite a tough operating environment on account of: • Inventory losses due to price volatility in key raw materials • Lower sales volumes – Automotive sector de-growth Belting Fabrics & Polyester Yarn • Higher
Slide 22: Others
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Slide 23: Others - Results Update
Others - Results Update Segment % Contribution % EBIT % Contribution to (Rs. Crore) EBIT Revenues to Revenues Margins EBIT Q4 FY19 128.7 6.2% 10.68 8.3% 3.2% Q4 FY18 118.1 7.3% 10.51 8.9% 4.3% % Shift 8.9% 1.6% FY19 525.4 6.8% 46.7 8.9% 4.1% FY18 457.3 8.0% 44.4 9.7% 5.6% % Shift 14.9% 5.3% Consolid
Slide 24: Others - Key Highlights
Others- Key Highlights Coated Fabrics & Laminated Fabrics • Continues to maintain its leadership position in the domestic market in Coated Fabrics segment with healthy growth volumes • In Laminated Fabrics, the Company has been able to deliver robust volumes despite oversupply in the market Engineer
Slide 25: Company Overview
Slide 26: Overview - Business Profile
Overview - Business Profile Revenue EBIT No. of Plants Chemicals Fluorochemicals Specialty Chemicals • Refrigerants • Organic intermediates for agro & 2445 384 2 • Pharma propellants pharma • Industrial chemicals Packaging Films for Flexible Packaging Films 2653 411 5 • Bi-axially Oriented Polyethyl
Slide 27: Overview - Growth Levers
Overview Growth Levers Focus on building Nurture innovation leadership businesses through R&D Build and maintain Reposition portfolio market leadership in towards knowledge business segments based products Build a Company known and respected for its R&D capabilities Focus on building knowledge bas
Slide 28: Outlook
Slide 29: Outlook - Chemicals Business
Outlook - Chemicals Business Focus on expanding to new markets / geographies for refrigerants and solvents Integrated capacities to produce a range of current & future HFC’s to cater to customer needs Focus on moving up the value chain through accelerating qualifications for new molecules and active
Slide 30: Outlook - Packaging Films Business
Outlook - Packaging Films Business Overall the global packaging films industry is witnessing improvement in capacity utilization Supply overhang likely to continue in the BOPP segment Focus on increasing pace of R&D efforts, efficient cost structures, enhanced capabilities and value-added products i
Slide 31: Outlook - Technical Textiles Business
Outlook - Technical Textiles Business NTCF is expected to remain a key business in the segment and a generator of steady cash flow Other sub segments of Technical Textiles started to contribute to its performance Improving macroeconomic environment to have a positive impact on belting fabric segment
Slide 32: About Us
About Us Established in 1970, SRF Limited with an annual turnover of ₹7,541 crore (US$ 1,077 million) is a chemical based multi-business entity engaged in the manufacturing of industrial and specialty intermediates. The company’s diversified business portfolio covers Technical Textiles, Fluorochemic
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