Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q3 FY21 Earnings Presentation
31 slides from Dcm Shriram's earnings presentation, Jan 19, 2021
Slide 1: Cover letter to stock exchanges
BSE Limited National Stock Exchange of India Ltd., Phiroze JeeJeeBhoy Towers, “Exchange Plaza”, Dalal Street, 5th Floor, Plot No. C-1, G Block, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (E) Mumbai – 400 051 SCRIP CODE : 523367 SCRIP CODE : DCMSHRIRAM Kind Attn: Department of Corporate Communicat
Slide 2: Q3 & 9M FY21 - Results Presentation
DCM Shriram Ltd. Q3 & 9M FY21 - Results Presentation January 19, 2021 1
Slide 3: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 4: Table of Content
Table of Content Title Slide No. Q3 FY21 Key Highlights 4 Projects 6 Returns & Leverage 7 Financial Snapshot 8 Segment Performance 9 9M FY21 Key Highlights 10 Financial Snapshot 12 Segment Performance 13 Management’s Message 14 Segmental Details Chloro-Vinyl Businesses 16-20 Sugar 21-23 Agri Input B
Slide 5: Q3 FY21 - Key Highlights
Q3 FY21 - Key Highlights 1. Revenues for Q3 FY21 at Rs 2,159 crs down 2% vs Q3 FY20: The revenues were positively impacted by: Vinyl Business revenue stood at Rs 207 crs up 41% YoY, driven by PVC prices up 49% and volumes up 11%. Shriram farm solutions (SFS) Value added product business revenu
Slide 6: Q3 FY21 - Key Highlights
Q3 FY21 - Key Highlights 66MW power plant commissioned in Feb’20 has significantly enhanced savings. Chemicals PBDIT at Rs 98 crs down 21% YoY due to lower ECU prices. Fertilizer PBDIT at Rs 39 crs vs Rs 17 crs during same period last year. Current quarter includes Rs 20 crs Govt arrears post
Slide 7: Projects
Projects 1. Under implementation : To optimize the cost structure at Bharuch, the company started work on 120 MW new power plant at Bharuch in Q2 FY20, It is progressing as per plan. The plan for implementation of 700 TPD Caustic Soda plant and 500 TPD flaker will be taken in due course. 2. The
Slide 8: Q3 FY21 - Financial Snapshot
Q3 FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 2,195 2,159 421 323 56 56 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 PBIT Finance Cost PAT 365 253 267 175 38* 28* Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 *Net Finance cost for Q3 FY21 at Rs 13.5 crs, for Q3 FY20 at Rs 8.6 cr
Slide 9: Q3 FY21 - Returns & Leverage
Q3 FY21 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.25 19.5% 16.7% 14.7% 0.70 0.32 FY20 Q3 FY 20 Q3 FY21 FY20 Q3 FY 20 Q3 FY21 ROCE Capital Employed 22.7% 5,896 19.5% 4,864 5,055 17.1% Rs Cr FY20 Q3 FY 20 Q3 FY21 FY20 Q3 FY 20 Q3 FY21 Note : ROCE and Net Debt/ EBITDA Calculated on TTM
Slide 10: Q3 FY21 - Segment Performance
Q3 FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments Q3 FY21 Q3 FY20 Q3 FY21 Q3 FY20 Q3 FY21 Q3 FY20 Change Change Chemicals 342.8 392.3 (12.6) 80.8 104.5 (22.7) 23.6 26.6 Plastics 206.9 146.6 41.1 96.4 27.1 255.4 46.6 18.5 Sugar 656.5 762.2 (13.9) 97.4 96.7 0.7 14.
Slide 11: 9M FY21 - Key Highlights
9M FY21 - Key Highlights 1. Revenues for 9M FY21 at Rs 6,118 crs up 5% vs 9M FY20. Overall sugar business revenues up 40% YoY at Rs 2,364 crs driven by sugar and distillery volumes: Sugar volumes up 25% YoY. Domestic volumes at 44.5 lac qtls up 25% and export volumes at 10.1 lac qtls up 24%. Thi
Slide 12: 9M FY21 - Key Highlights
9M FY21 - Key Highlights 2. PBDIT for 9M FY21 at Rs 853 crs down 9% vs 9M FY20. Chemicals PBDIT at Rs 253 crs down 54% YoY due to lower prices and volumes. Plastics PBDIT at Rs 160 crs up 87% YoY due to higher prices and lower power costs. Commissioning of new power plant of 66 MW to replace o
Slide 13: 9M FY21 - Financial Snapshot
9M FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 5,850 6,118 940 853 159 175 Q9 FY20 Q9 FY21 Q9 FY20 Q9 FY21 Q9 FY20 Q9 FY21 PBIT Finance Cost PAT 781 678 515 442 117* 97* Q9 FY20 Q9 FY21 Q9 FY20 Q9 FY21 Q9 FY20 Q9 FY21 *Net Finance cost for 9M FY21 at Rs 50.6 crs, for 9M FY20 at Rs 43.
Slide 14: 9M FY21 - Segment Performance
9M FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments Q9 FY21 Q9 FY20 Q9 FY21 Q9 FY20 Q9 FY21 Q9 FY20 Change Change Chemicals 928.3 1,370.8 (32.3) 194.7 494.2 (60.6) 21.0 36.0 Plastics 459.9 423.1 8.7 147.6 76.8 92.3 32.1 18.1 Sugar 2,363.9 1,683.2 40.4 208.3 196.1 6
Slide 15: Management's Message
Management’s Message Commenting on the performance for the quarter and 9M ending December 2020, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “ The Company has witnessed a sequential improvement in its qu
Slide 16: Segmental Details
Segmental Details • Caustic Soda (1,845 TPD) • Aluminum Chloride (60 TPD) Chloro-Vinyl • PVC Resins (220 TPD) Businesses • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (155 MW) Agri o Distillery (350 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers
Slide 17: Chloro Vinyl Business
Chloro Vinyl Business PBIT Cap. Employed Particulars Revenues (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q3 FY21 549.7 177.2 1,487.1 Q3 FY20 539.0 131.6 1,520.4 % Shift 2.0 34.6 (2.2) Q9 FY21 1,388.2 342.4 1,487.1 Q9 FY20 1,793.9 570.9 1,520.4 % Shift (22.6) (40.0) (2.2) The Chloro-Vinyl business of the Company
Slide 18: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realisations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q3 FY21 132,784 19,040 342.8 80.8 23.6 Q3 FY20 134,020 23,954 392.3 104.5 26.6 % Shift (0.9) (20.5) (12.6) (22.7) (11.5) Q9 FY21 344,932 20,225 928.3 194.7 21.0 Q9
Slide 19: Chemicals
Chemicals During Q3 2020-21, caustic soda (flakes+lye) imports were 0.75 lac MT compared to 1.07 of CPLY. During Q3 2020-21, caustic soda (flakes+lye) exports from India were 0.65 lac MT compared to 0.82 lac MT in CPLY. Industry Average industry utilization was ~80% in west zone and ~70% in no
Slide 20: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realisations Realisations PBIT Margin % (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q3 FY21 17,090 106,782 2,841 60,143 206.9 96.4 46.6 Q3 FY20 15,396 71,800 5,657 52,804 146.6 27.1 18.5 % Shift 1
Slide 21: Plastics
Plastics Revenue for Q3 FY21 at Rs 207 crs up 41% YoY. PVC volumes up 11% YoY and carbide volumes down 50% YoY. Carbide volumes lower primarily on account of higher production of PVC due to better prices. PVC prices up 49% YoY. Carbide prices up 14% YoY. PVC prices continue with a positive trend
Slide 22: Sugar
Sugar Cap. Employed Particulars Revenues (Rs. Cr.) PBIT (Rs. Cr.) PBIT Margin % (Rs. Cr.) Q3 FY21 656.5 97.4 14.8 2,046.1 Q3 FY20 762.2 96.7 12.7 2,075.5 % Shift (13.9) 0.7 16.9 (1.4) Q9 FY21 2,363.9 208.3 8.8 2,046.7 Q9 FY20 1,683.2 196.1 11.7 2,075.5 % Shift 40.4 6.2 (24.4) (1.4) Capital employed
Slide 23: Sugar
Sugar Sugar Sugar Power Distillery Distillery Sugar Sales Production (Domestic) Power Sales Realizations Distillery Sales Realizations - Realizations - Particulars (Domestic) (Lac Qtls) Realizations (Lac Units) (Rs/ unit) (Lac Ltrs) B Heavy C Heavy (Rs/ (Lac Qtls) (Rs/Qtl) (Lac Units) (Rs/ Ltrs) Ltr
Slide 24: Sugar
Sugar Season Updates: Mills started in first week of November’ 2020. Cane crushed till 31st December, 2020 (SY21) is 203.3 lac qtls vs 190.0 lac qtls till 31st December, 2019 (SY20). Recoveries, on final molasses, till 31st December, 2020 (SY21) is 10.7% vs 11.2% till 31st December, 2019 (SY
Slide 25: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q3 FY21 395.0 77.8 19.7 65.6 Q3 FY20 331.4 62.8 18.9 159.8 % Shift 19.2 23.9 4.0 (58.9) Q9 FY21 793.4 116.7 14.7 65.6 Q9 FY20 687.8 75.7 11.0 159.8 % Shift 15.4 54.2 33.7 (58.9) The products in
Slide 26: Bioseed
Bioseed Revenues (Rs. Cr.) Cap. PBIT Particulars PBIT Margin % Employed India International Total (Rs. Cr.) (Rs. Cr.) Q3 FY21 64.3 26.5 90.7 (9.3) (10.3) 493.9 Q3 FY20 57.3 25.3 82.6 (9.4) (11.3) 496.1 % Shift 12.2 4.4 9.8 - - (0.4) Q9 FY21 305.4 93.0 398.4 44.1 11.1 493.9 Q9 FY20 293.8 76.7 370.5 2
Slide 27: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realisations Revenues PBIT Cap. Employed Particulars PBIT Margin % (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q3 FY21 108,903 21,028 263.7 36.7 13.9 693.6 Q3 FY20 108,642 24,126 274.4 13.8 5.0 489.7 % Shift 0.2 (12.8) (3.9) 166.4 177.2 41.6 Q9 FY21 312
Slide 28: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 215 crs in Q3 FY21 from Rs. 215 crs in Q3 FY20. PBIT for the quarter stood at . Rs. 17 crs vis-à-vis Rs. 8 crs in Q3 FY20. DCM Shr
Slide 29: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crs) Revenues PBIT Particulars PBIT Margin % Retail Projects Total Total (Rs Crs) (Rs Crs) Q3 FY21 84.9 40.7 125.6 108.9 15.0 13.7 Q3 FY20 79.0 29.6 108.6 107.3 13.5 12.6 % Shift 7.4 37.7 15.7 1.5 10.9 9.2 Q9 FY21 191.7 99.2 290.9 242.4 1
Slide 30: Cement
Cement Operational Financial Sales Realisations Revenues PBIT PBIT Margin % Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q3 FY21 109,569 3,638 48.4 3.3 6.8 Q3 FY20 104,369 3,525 44.6 (5.3) (11.9) % Shift 5.0 3.2 8.6 - - Q9 FY21 288,445 3,640 126.8 9.0 7.1 Q9 FY20 307,401 3,543 132.3 1.9 1.4 % Shift
Slide 31: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive