Balaji Amines Limited · NSE:BALAMINES
Balaji Amines — Investor Presentation (May 2022)
48 slides from Balaji Amines's investor presentation, May 12, 2022
Slide 1: Filing cover letter to stock exchanges
IsO 9001:2015 !A TUV Rheinland www.tuv.com alla CERTIFIED ID 01 100 058617 CIN:L24132MH1988PLC049387 TEL 0091-217- 2310824 0091-217 -2451500 AMINES LIMITED A Speciality Chemical Company FAX 0091-217-2451521 Regd. Of.: Balaji Towers' No. 9/1A/1, E-MAIL info@balajiamines.com Hotgi Road, Aasara Chowk,
Slide 2: Balaji Amines Limited Investor Presentation May 2022
Balaji Amines Limited Investor Presentation May 2022 1
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Balaji Amines Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securiti
Slide 4: Q4FY22: Consolidated Performance Highlights
Q4FY22: Consolidated Performance Highlights Revenue (Rs. Crore) EBITDA (Rs. Crore) PAT (Rs. Crore) Margin 31.73% 28.22% 25.50% 21.26% 17.95% 16.75% 87.04% 50.29% 47.34% 781.15 199.17 130.85 159.67 101.59 565.83 132.52 88.81 417.63 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 3
Slide 5: FY22: Consolidated Performance Highlights
FY22: Consolidated Performance Highlights Revenue (Rs. Crore) EBITDA (Rs. Crore) PAT (Rs. Crore) Margin 28.79% 27.38% 18.48% 17.95% +76.66% +68.04% +71.62% 2,327.60 637.39 417.90 1,317.53 379.30 243.50 FY21 FY22 FY21 FY22 FY21 FY22 4
Slide 6: Q4FY22: Standalone Performance Highlights
Q4FY22: Standalone Performance Highlights Revenue (Rs. Crore) EBITDA (Rs. Crore) PAT (Rs. Crore) Margin 30.30% 23.03% 21.07% 21.03% 15.77% 13.13% 65.08% 14.78% 3.09% 621.89 131.03 79.23 81.68 74.85 114.16 109.34 474.72 376.71 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 Q4FY21 Q3FY22 Q4FY22 5
Slide 7: FY22: Standalone Performance Highlights
FY22: Standalone Performance Highlights Revenue (Rs. Crore) EBITDA (Rs. Crore) PAT (Rs. Crore) Margin 27.31% 23.80% 18.69% 15.95% +55.68% +35.64% +32.90% 1,930.19 459.35 307.94 338.65 231.71 1,239.81 FY21 FY22 FY21 FY22 FY21 FY22 6
Slide 8: Q4FY22 Performance Highlights
Q4FY22 Performance Highlights Sales volumes were up by 18.33% from 28,547 MT in Q4FY21 to 33,780 MT in Q4FY22. This was on account of improved volume offtake on account of enhanced capacity utilization of our DMF and new Ethylamines plant as compared to previous quarters • Amines volumes stood at 7,
Slide 9: Phase-2 Expansion Plans at our 90-acre Greenfield Project (Unit IV)
Phase-2 Expansion Plans at our 90-acre Greenfield Project (Unit IV) N-Butylamine Acetonitrile Methylamines Dimethyl Formamide ❑ We plan to undertake capex for a ❑ Post the process of de-bottlenecking ❑ Market Leader in Methylamines ❑ Market Leader in Dimethyl new product, namely N-Butylamine the pro
Slide 10: Consolidated Statement of Profit & Loss
Consolidated Statement of Profit & Loss Particulars (in Rs. Crore) Q4FY22 Q4FY21 Y-o-Y FY22 FY21 Y-o-Y Total Revenue 781.15 417.63 87.04% 2,327.60 1,317.53 76.66% Raw Material 436.88 187.90 1,222.53 630.26 Employee expense 29.37 21.77 91.54 67.82 Other expenses 115.73 75.44 376.14 240.15 EBITDA 199.
Slide 11: Standalone Statement of Profit & Loss
Standalone Statement of Profit & Loss Particulars (in Rs. Crore) Q4FY22 Q4FY21 Y-o-Y FY22 FY21 Y-o-Y Total Revenue 621.89 376.71 65.08% 1,930.19 1,239.81 55.68% Raw Material 369.43 174.17 1,073.07 622.69 Employee expense 28.56 21.10 88.73 65.68 Other expenses 92.87 67.28 309.04 212.79 EBITDA 131.03
Slide 12: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement ASSETS (Rs. Crs.) Mar-22 Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) Mar-22 Mar-21 (1) NON-CURRENT ASSETS EQUITY (a) Equity Share capital 6.48 6.48 (a) Property, plant & equipment 681.18 542.92 (b) Other equity 1,243.37 887.91 (b) Capital work-in-progress 140.94 173
Slide 13: Standalone Balance Sheet Statement
Standalone Balance Sheet Statement ASSETS (Rs. Crs.) Mar-22 Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) Mar-22 Mar-21 (1) NON-CURRENT ASSETS EQUITY (a) Equity Share capital 6.48 6.48 (a) Property, plant & equipment 495.03 344.34 (b) Other equity 1,185.91 890.93 (b) Capital work-in-progress 140.93 173.2
Slide 14: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement for twelve months ended (in Rs. Crore) FY22 FY21 Profit before interest and tax 595.39 344.89 Other income considered -7.25 -6.07 Depreciation 42.00 34.41 Operating profit before working capital changes 630.14 373.23 Changes in working capital -31
Slide 15: Standalone Cash Flow Statement
Standalone Cash Flow Statement Cash Flow Statement for twelve months ended (in Rs. Crore) FY22 FY21 Profit before interest and tax 430.18 315.31 Other income considered -12.14 -12.03 Depreciation 29.17 23.34 Operating profit before working capital changes 447.21 326.62 Changes in working capital -19
Slide 16: Section 1: About Us
SECTION 1 About Us
Slide 17: Amines Industry – Unique but Critical Industry with growth potential
Amines Industry – Unique but Critical Industry with growth potential The size of Aliphatic Amines industry globally is For Indian Amine manufacturers, 45-55% of the $4.9 billion. Globally, the Amine industry is export revenue comes from Europe alone. USA 8 1 oligopolistic with two-three producers ca
Slide 18: Balaji Amines Ltd – A Leading player in Aliphatic Amines in India
Balaji Amines Ltd – A Leading player in Aliphatic Amines in India Largest manufacturer of Aliphatic State-of-the-art manufacturing 25+ Product basket Zero Liquid Discharge Amines in India facilities fully equipped with latest DCS technology facilities Only Company to develop an Indigenous Technology
Slide 19: Our Products are supplied to India's fast-growing Industries
Our Products are supplied to India’s fast-growing Industries INDUSTRY WISE – REVENUE BREAKUP 3% 4% 3% 4% 3% 2% 4% 51% 26% Pharma Agrochem Paints & Resins Animal Feeds Oil & Gas Rubber Cleaning Chemicals Water Treatment Chemicals Dye and Textiles Others 18
Slide 20: Highly Experienced Management Team
Highly Experienced Management Team Mr. A. Srinivas Reddy Mr. D. Ram Reddy Mr. A. Pratap Reddy Mr. N. Rajeshwar Reddy Mr. G. Hemanth Reddy Whole Time Director Managing Director Executive Chairman Joint Managing Director Whole Time Director & CFO • Post Graduate in Computer • 35 years of experience ac
Slide 21: Diversified Product Portfolio
Diversified Product Portfolio Amines Amine Derivatives Specialty & Other Chemicals • Aliphatic Amines find increasing consumption and • Amine Derivatives are used to make further salts and • Albeit a small and fastest growing segment applications in a Chemically mature Industry such other complex ch
Slide 22: Clientele
Clientele Amines Amine Derivatives Specialty & Other Chemicals 21 The company logos mentioned above are the property of their respective owners and are used here for identification purposes only
Slide 23: Well positioned Business Model aimed at Sustainable growth
Well positioned Business Model aimed at Sustainable growth Focus towards high-value derivatives and Develop new indigenous technology for specialty chemicals with an aim to move up manufacturing products leading to lowering in the value-chain with vertical integration manufacturing costs & improving
Slide 24: Key Products (Current & Proposed) in Portfolio
Key Products (Current & Proposed) in Portfolio Balaji Amines In MTPA Balaji Speciality Chemicals In MTPA Existing Installed Proposed Licensed Product Application Areas Product Application Areas Capacity Capacity Capacity Methyl Amine 48,000 40,000 Pharma, Agro, Dye & Rubber Pesticides, - Pharma, Agr
Slide 25: We are Global suppliers – a significant validation of our Capabilities
We are Global suppliers – a significant validation of our Capabilities 19.37% of the Total Revenue for FY22 i.e. Rs. 373.83 Crore is generated from exports spanning across continents 24 Note: Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representati
Slide 26: Awards & Certificates – A Testimony of our capabilities (1/2)
Awards & Certificates – A Testimony of our capabilities (1/2) ISO Certificate Two Star Export House ISO Certificate ISO 9001 : 2015 Certificate Certificate of Merit – CHEMEXCIL First Award – CHEMEXCIL 25
Slide 27: Awards & Certificates – A Testimony of our capabilities (2/2)
Awards & Certificates – A Testimony of our capabilities (2/2) Product Innovator of Distinguished Contribution Excellent CSR in Water the Year in Chemicals – in the Indian Chemicals Conservation 2018 Industry WHO GMP Certificate REACH Pre-Registration Niryat Shree Award by FIEO 26
Slide 28: We are Growing…Sustainably and Consistently
We are Growing…Sustainably and Consistently “Long-Term Issuer Rating upgraded to ‘IND AA’ from ‘IND AA-’ by India Ratings and Research (Ind- Ra) .” The ratings process highlighted the following factors:- • Largest manufacturer of aliphatic amines and their derivatives in India • Sole producer for a
Slide 29: High entry barrier Business – Paving way for Sustainable growth
High entry barrier Business – Paving way for Sustainable growth Complex Manufacturing High Lead time Capex Heavy Business Complex manufacturing process Niche product offering with high High fixed costs, with fixed asset requiring high levels of lead time in customer approvals turns hovering in the r
Slide 30: Well positioned Business Model aimed at Sustainable growth
Well positioned Business Model aimed at Sustainable growth Value-Added Products Applicability in Solvents segment Capex towards high-value derivatives and specialty Solvents account for 80%-90% of the mass chemicals will materialize into higher revenue and enhanced margins 01 utilised in a typical p
Slide 31: Greenfield Project to fuel growth and add Revenue Visibility
Greenfield Project to fuel growth and add Revenue Visibility Strategically Mega Project Project Capex Product Profile Indigenous New Products = 1st High Demand Located Plant Status Technology mover advantage for Products Environmental Ethylamines plant in Project cost of Rs. New Acetonitrile Plan to
Slide 32: Balaji Speciality Chemicals – Production commenced in FY20
Balaji Speciality Chemicals – Production commenced in FY20 Manufacturing products such Undertook capex of about Rs. Received Mega project status as Ethylene Diamine, 250 crore; loan contribution of for the Project from 01 Piperazine, 02 Rs. 150 crore. Expected 03 Maharashtra State Aminoethylpiperazi
Slide 33: R&D led Investments to provide significant early mover advantage
R&D led Investments to provide significant early mover advantage Environment Conscious New Products Identification of new products and Waste-water treatment and minimization of effluents development of latest process by adopting Industry best practices for effluent technologies treatment. Efficiency
Slide 34: Section 2: Hotel Division
SECTION 2 Hotel Division
Slide 35: Balaji Sarovar Premiere – Best in class Business Hotel in Solapur
Balaji Sarovar Premiere – Best in class Business Hotel in Solapur Balaji Sarovar Premiere (Solapur) 34
Slide 36: Balaji Sarovar Premiere – At a Glance
Balaji Sarovar Premiere – At a Glance • Commenced Operations in October 2013 Hotel Balaji Sarovar Premier is the only 5 star hotel in Solapur • Invested Rs. 110 crore in the Hotel Project via mix of Debt and Equity • Tied up with Sarovar Group for the Management of the Hotel on Management Fee + Reve
Slide 37: Balaji Sarovar Premiere – Operating Matrix (FY22)
Balaji Sarovar Premiere – Operating Matrix (FY22) 129 Rooms Constitutes 0.84% Rs. 3,666 ARR of Total Revenue 47% Occupancy Rate Balaji Negligible Routine Capex incurred Sarovar RS. 1,705 RevPAR Premiere Renowned Five Star Hotel In the City of Solapur ARR : Average Room Revenue RevPAR: Revenue per Av
Slide 38: Section 3: Financial Performance
SECTION 3 Financial Performance
Slide 39: Consolidated Performance Highlights
Consolidated Performance Highlights Revenue (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 2,328 637 418 +28% +35% +39% 1,318 379 244 861 943 941 190 193 186 113 117 97 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 EBITDA Margin (%) PAT Margin (%) RoE (%) 28.8% 27.4% 18.5%
Slide 40: Strong Core RoCE Profile
Strong Core RoCE Profile Particulars (Rs. Crs.) FY20 FY21 FY22 ▪ For FY20, investments made to the tune of Rs. 112.35 crore Consolidated Debt 259.57 127.07 100.64 in subsidiary company of Balaji Amines not considered, as Consolidated Networth 668.37 909.92 1,314.86 the volume offtake was very limite
Slide 41: Consolidated Profit & Loss Account
Consolidated Profit & Loss Account Particulars (in Rs. Crore) FY22 FY21 YoY Total Revenue 2,327.60 1,317.53 76.66% Raw Material 1,222.53 630.26 Employee Cost 91.54 67.82 Other Expenses 376.14 240.15 EBITDA 637.39 379.30 68.04% EBITDA Margin 27.38% 28.79% Depreciation 42.00 34.41 EBIT 595.39 344.89 7
Slide 42: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement ASSETS (Rs. Crs.) Mar-22 Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) Mar-22 Mar-21 (1) NON-CURRENT ASSETS EQUITY (a) Equity Share capital 6.48 6.48 (a) Property, plant & equipment 681.18 542.92 (b) Other equity 1,243.37 887.91 (b) Capital work-in-progress 140.94 173
Slide 43: Standalone Statement of Profit & Loss
Standalone Statement of Profit & Loss Particulars (in Rs. Crore) FY22 FY21 YoY Total Revenue 1,930.19 1,239.81 55.68% Raw Material 1,073.07 622.69 Employee Cost 88.73 65.68 Other Expenses 309.04 212.79 EBITDA 459.35 338.65 35.64% EBITDA Margin 23.80% 27.31% Depreciation 29.17 23.34 EBIT 430.18 315.3
Slide 44: Standalone Balance Sheet Statement
Standalone Balance Sheet Statement ASSETS (Rs. Crs.) Mar-22 Mar-21 EQUITY AND LIABILITIES (Rs. Crs.) Mar-22 Mar-21 (1) NON-CURRENT ASSETS EQUITY (a) Equity Share capital 6.48 6.48 (a) Property, plant & equipment 495.03 344.34 (b) Other equity 1,185.91 890.93 (b) Capital work-in-progress 140.93 173.2
Slide 45: Consistent Dividend Payout
Consistent Dividend Payout 300% 200% 160% 130% 140% FY18 FY19 FY20 FY21 FY22 Particulars (Rs. per share) FY18 FY19 FY20 FY21 FY22 Consolidated Book Value 149.71 182.71 206.28 280.83 405.81 Consolidated EPS 34.93 36.27 32.34 73.52 113.71 Dividend 2.60 2.80 3.20 4.00 6.00 44
Slide 46: Section 4: Moving towards Growth Prospects
SECTION 4 Moving towards Growth Prospects
Slide 47: Balaji Amines Ltd - Progressing steadily
Balaji Amines Ltd - Progressing steadily Increased capacity utilization Ramp up in production Capex Phase - 2 & capacity additions of at Subsidiary Plant Greenfield Phase – 1 capex Ramp up in manufacturing of Expansion and commercialization of Higher capacity utilization of new Ethylene Diamine, Pip
Slide 48: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Strategic Growth Advisors Pvt. Ltd. Balaji Amines Ltd. CIN - U74140MH2010PTC204285 CIN - L24132MH1988PLC049387 Mr. Shogun Jain / Mr. Parin Narichania Email - cs@balajiamines.com shogun.jain@sgapl.net / parin.n@sgapl.net