Refex Industries Limited · NSE:REFEX
Refex Industries — Investor Presentation (April 2024)
53 slides from Refex Industries's investor presentation, Apr 23, 2024
Slide 1: Corporate Presentation Update cover letter to exchanges
April 23, 2024 The BSE Limited The National Stock Exchange of India Ltd. st 1 Floor, New Trading Wing, Rotunda Exchange Plaza, 5th Floor, C – 1, Block G Building Phiroze Jeejeebhoy Towers, Bandra – Kurla Complex, Bandra (E) Mumbai – Dalal Street, Fort Mumbai – 400001 400051 Scrip Code: 532884 Symbol
Slide 2: Refex Industries Limited Investor Presentation
Refex Industries Limited Investor Presentation
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation and the accompanying slides (the Presentation), which have been prepared by Refex Industries Limited (Refex, The Company) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities
Slide 4: Index
Index Contents Page No. Company Overview 4 Business Overview 13 Management Overview 26 Industry Overview 31 Q3 & 9M FY24 Financial Highlights 35 Financial Overview 39 The Way Ahead 49 Investor Presentation 3
Slide 5: Company Overview
Company Overview
Slide 6: Refex Industries: Spearheading Exponential Growth in Sustainable Solutions
Refex Industries: Spearheading Exponential Growth in Sustainable Solutions Refex Industries Limited (Refex, The Company), established in 2002 and headquartered in Chennai, is dedicated to advancing sustainability in India. With a diverse portfolio encompassing Ash & Coal Handling, Refrigerant Gases,
Slide 7: Insights into Refex: Essential Facts
Insights into Refex: Essential Facts Ash & Coal Handling – 35,000 MT Daily 21+ PAN India 4 200+ Years of Experience Presence Business Verticals Team Size Refrigerant Gases Capacity - 3,000 MTPA CO2 Abated due to zero tailpipe Emissions of RGML Fleet - 3,30,000 KG Total Fleets Owned / Leased Ranked W
Slide 8: Guiding Principles: Vision & Mission
Guiding Principles: Vision & Mission Vision Mission To be the most preferred company; We will strive to attain our goals by committed to seeking growth and prosperity exceeding the needs & expectations of by achieving a sustainable competitive share our customers with continuous – globally; using in
Slide 9: Defining Direction: Core Values, Purpose & Goals
Defining Direction: Core Values, Purpose & Goals Core Values Leadership Integrity Customer by & Value Example Transparency Fairness Excellence Purpose Goals To contribute towards a carbon At the core of our business remains our neutral world by accelerating the commitment to our clients to position
Slide 10: Journey: A Path of Innovation & Sustainability
A Path of Innovation & Sustainability 2002 Refex Industries Limited, formerly known as Refex Journey Refrigerant Limited, was founded 2003 - 2004 • Established a refrigerant gas refilling facility in Chennai • Commended by the Minister of State for Commerce & Industry, Government of India for introd
Slide 11: Refex's Vertical Wise Presence: Spanning Across the Nation
Refex’s Vertical Wise Presence: Spanning Across the Nation Haryana Delhi Rajasthan Uttar Pradesh Bihar Madhya Pradesh Gujarat Chhattisgarh Maharashtra Mumbai Karnataka Headquarter Refrigerant Gas Bengaluru Chennai Green Mobility Ash & Coal Handling Tamil Nadu Power Trading Investor Presentation 10
Slide 12: Proud Moments: Awards & Accolades
Proud Moments: Awards & Accolades REFEX certified as a ‘Great Place To Work’ by GPTW in March 2023 Anil Jain Announced as a Bronze Stevie Award winner For the ‘Best Entrepreneur of the Year’ Refex named as a Gold Stevie Award winner in the conglomerates category conglomerates category (Medium size)
Slide 13: Leading the Charge: Commitment to Sustainability Through Innovative Practices
Leading the Charge: Commitment to Sustainability Through Innovative Practices Energy Conservation Environmental Restoration • Committed to a clean energy transition, relying • The Company prioritizes ecosystem restoration more on renewable energy sources for its and biodiversity conservation operati
Slide 14: Business Overview
Business Overview
Slide 15: Backbone of Refex: Exploring Business Verticals
Backbone of Refex: Exploring Business Verticals Ash and Coal Handling Refrigerant Gases Power Trading Green Mobility Investor Presentation 14
Slide 16: Revolutionizing Ash Disposal: Refex Setting the Standard for Sustainability
Revolutionizing Ash Disposal: Refex Setting the Standard for Sustainability In MT Ash Disposed 52,39,003 Refex forayed into the Ash & Coal Handling business in 2018. The Company is a prominent player in the ash disposal sector, mitigating the environmental pollution caused by the combustion of coal
Slide 17: Efficient Coal Handling Solutions: End-to-End Coal Handling Expertise
Efficient Coal Handling Solutions: Refex's End-to-End Coal Handling Expertise The Company provides comprehensive services for coal yard management in thermal power plants. Refex is engaged in - Coal Trading - Round-the-clock management of coal yards - Over Burden (OB) Excavation Refex is presently e
Slide 18: Insights on Refex's Fleet for Ash handling
Insights on Refex's Fleet for Ash handling Refex operates 500 owned & leased fleets exclusively for Ash handling Investor Presentation 17
Slide 19: Data Analysis & GPS Tracking: Enhancing Efficiency
Data Analysis & GPS Tracking: Enhancing Efficiency In commitment towards digital transformation of the company, Refex prioritizes leveraging technology to enhance operational efficiency, and profitability, ultimately driving sustained value and growth. Snapshot of the Software Centralized data colle
Slide 20: Esteemed Clients - Ash & Coal Handling
Esteemed Clients - Ash & Coal Handling Servicing Reputed Cement Companies Some of the Key Clients Investor Presentation 19
Slide 21: Eco Friendly Refrigerant Gases: Leading the Sustainable Cooling Revolution
Eco Friendly Refrigerant Gases: Refex Leading the Sustainable Cooling Revolution Since inception in 2002, Refex Industries Limited has been a pioneering force in the realm of eco-friendly refrigerant gases. The Company is a prominent supplier of HFC refrigerant gases within India, specializes in pro
Slide 22: Esteemed Clients - Refrigerant Gases
Esteemed Clients - Refrigerant Gases Major Customers Investor Presentation 21
Slide 23: Facilitating Power Flow: Diversification into Power Trading
Facilitating Power Flow: Refex's Diversification into Power Trading Beginning in 2022, Refex ventured into Power Trading to bridge the gap between producers and consumers. Ranked Among the Top 10 Category 1 Traded Over Power Traders in India by Volume of Electricity Traded Power Trading License 1,00
Slide 24: Esteemed Clients - Power Trading
Esteemed Clients - Power Trading Collaborated with Major Suppliers As well as state DISCOMS including Haryana, Punjab, Himachal Pradesh, and Tamil Nadu Investor Presentation 23
Slide 25: Towards Greener Horizons: Refex Green Mobility's Integrated Mobility Services
Towards Greener Horizons: Refex Green Mobility's Integrated Mobility Services Refex Green Mobility Limited (RGML), a wholly-owned subsidiary of Refex Industries Limited, commenced Green Mobility operations in Bengaluru in March 2023. The Company provides bundled offerings that include electric vehic
Slide 26: Green Mobility
Green Mobility Consumers Investor Presentation 25
Slide 27: Management Overview
Management Overview
Slide 28: Guiding the Way: Refex's Board of Directors
Guiding the Way: Refex’s Board of Directors Anil Jain Dinesh Kumar Agarwal Susmitha Siripurapu Chairman & Managing Director Non-Executive Director Non-Executive Director Latha Venkatesh Ramesh Dugar Sivaramakrishnan Vasudevan Independent Director Independent Director Independent Director Investor Pr
Slide 29: Leadership Roles: Driving Growth & Innovation
Leadership Roles: Driving Growth & Innovation Mr. Anil Jain Mr. Dinesh Kumar Agarwal Chairman & Managing Director Non-Executive Director Mr. Anil Jain epitomizes the essence of entrepreneurial success, embarking on Mr. Dinesh Agarwal, with his extensive background in Corporate Finance, has his journ
Slide 30: Vertical Leadership: Key Managers Driving Excellence
Vertical Leadership: Key Managers Driving Excellence Lalitha Uthayakumar Purvesh Kapadia Sahil Singla Sachin Navtosh Jha CFO CHRO Head – Corporate Finance Chief of Staff – Green Mobility Experience: 30+ Years Experience: 25+ Years Experience: 19+ Years & Power Trading Qualification: Commerce Graduat
Slide 31: Vertical Leadership: Key Managers Driving Excellence
Vertical Leadership: Key Managers Driving Excellence Sonal Jain Harini S Ankit Poddar Gagan Bihari Pattnaik Srividya.N Head - FP&A Head – Legal Head – Corporate Secretarial Head – ESG & Sustainability Head – Corporate Experience: 19+ Years Experience: 17+ Years Experience: 13+ Years Experience: 18+
Slide 32: Industry Overview
Industry Overview
Slide 33: Overview of the Indian Fluorochemicals Market: Insights & Projections
Overview of the Indian Fluorochemicals Market: Insights & Projections In 2023, the Indian fluorochemicals market displayed strong growth and significant requirements from the HFC gases market, highlighting its substantial presence and contributions. • Indian fluorochemicals market in 2024: $770 mill
Slide 34: India's Coal Industry: Key Highlights
India's Coal Industry: Key Highlights India's Coal Industry Sees Record Production, Emphasizes Sustainability in Ash Disposal • India achieved a record-high coal production of 892.74 MMT in FY23, catering • Coal and lignite-based power plants contribute 69% of India's electricity, to demands from cr
Slide 35: Insights into India's Power Sector
Insights into India's Power Sector India's Power Generation Surges in FY23, Setting Records Total Generation in India Amidst Dynamic Sector Growth (Including Renewable Sources) (BU) 1800 1,624.15 • India's power generation in FY23 grew by 8.87%, the highest in over 30 years, reaching 1,624.15 billio
Slide 36: Standalone Q3 & 9M FY24 Financial Highlights
Standalone Q3 & 9M FY24 Financial Highlights
Slide 37: 9M Performance Highlights YoY
9M Performance Highlights YoY Total Income EBITDA & EBITDA Margin PAT & PAT Margin EBITDA EBITDA Margin 65.39 64.99 1,043.14 105.26 98.43 1,005.46 9.79 10.09 6.50 6.23 9M FY23 9M FY24 9M FY23 9M FY24 9M FY23 9M FY24 All Figures In ₹ Cr and Margin In % Investor Presentation 36
Slide 38: Quarterly Performance Highlights YoY
Quarterly Performance Highlights YoY Total Income EBITDA & EBITDA Margin PAT & PAT Margin EBITDA EBITDA Margin PAT PAT Margin 381.77 39.61 26.15 33.66 304.72 19.67 10.37 11.04 6.85 6.46 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 All Figures In ₹ Cr and Margin In % Investor Presentation 37
Slide 39: Last Five Quarter Performance
Last Five Quarter Performance In ₹ Cr Particulars Q3 FY24 Q2 FY24 Q1 FY24 Q4 FY23 Q3 FY23 Revenues 301.51 350.31 381.37 630.13 380.40 Other Income 3.22 4.80 1.93 1.85 1.37 Total Income 304.72 355.11 383.30 631.97 381.77 Raw Material Costs 258.46 308.46 334.17 548.16 332.47 Employee Costs 4.34 3.97 3
Slide 40: Standalone Financial Overview
Standalone Financial Overview
Slide 41: Key Financial Highlights
Key Financial Highlights Total Income EBITDA & EBITDA Margin PAT & PAT Margin EBITDA EBITDA Margin PAT PAT Margin 1,637.44 174.65 115.82 637.10 67.68 45.44 60.87 40.94 448.98 10.62 13.55 10.12 10.67 6.43 7.07 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 All Figures In ₹ Cr and Margin In % Investor P
Slide 42: Profit & Loss Statement
Profit & Loss Statement In ₹ Cr Particulars FY23 FY22 FY21 Revenues 1,629.15 443.96 632.66 Other Income 8.29 5.03 4.44 Total Income 1,637.44 448.98 637.10 Raw Material Costs 1,422.47 355.47 526.98 Employee Costs 14.04 13.16 6.03 Other Expenses 17.99 14.46 31.98 Total Expenditure 1,454.50 383.09 564.
Slide 43: Balance Sheet
Balance Sheet In ₹ Cr Equities & Liabilities FY23 FY22 FY21 Assets FY23 FY22 FY21 Equity 22.11 21.00 21.00 Non Current Assets Reserves 292.29 162.96 118.57 Fixed Assets 150.01 85.42 86.78 Net Worth 314.40 183.96 139.57 Non Current Investments 73.85 74.00 74.05 Non Current Liabilities Other Non Curre
Slide 44: Cash Flow Statement
Cash Flow Statement In ₹ Cr Particulars FY23 FY22 FY21 Cashflow from Operations 27.91 -13.82 123.29 Cashflow from Investments -77.66 -5.14 -122.27 Cashflow from Financing 59.64 2.01 -4.72 Net Cash flow 9.89 -16.96 -3.71 Opening Cash Balance 0.29 17.24 20.95 Closing Cash Balance 10.18 0.29 17.24 Inve
Slide 45: Key Ratios
Key Ratios (In %) ROCE (In %) ROE 36.92 29.34 32.95 33.74 24.67 22.67 FY21 FY22 FY23 FY21 FY22 FY23 Trade receivables turnover ratio (In Times) Trade payables turnover ratio (In Times) 9.01 10.56 7.66 7.48 4.24 4.02 FY21 FY22 FY23 FY21 FY22 FY23 Investor Presentation 44
Slide 46: Key Ratios
Key Ratios Debt to Equity (In Times) Current Ratio (In Times) Debt Service Coverage (In Times) Ratio 1.67 1.59 6.62 0.53 1.32 0.47 3.06 0.46 2.27 FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 Inventory Turnover Ratio (In Times) Net capital turnover ratio (In Times) 15.12 6.83 8.89 3.81 3.02 5.17 FY21
Slide 47: Vertical-Specific Revenue Insights
Vertical-Specific Revenue Insights FY23 (In %) FY22 (In %) FY21 (In %) 4.17 0.00 13.82 16.65 0.00 0.71 0.69 1.95 3.95 2.63 2.72 8.50 11.51 72.22 0.00 78.96 0.00 81.52 Solar Power Generation Coal & Ash Handling Business Power Trading Refrigerant Gas Sale of Service Other Income and Related Activities
Slide 48: Stock Data
Stock Data NSE: REFEX BSE: 532884 | ISIN: INE056I01025 SHARE HOLDING PATTERN Source - NSE As on 23-04-2024 As on 31-03-2024 Share Price (₹) 171.65 0.22% Market Capitalization (₹ Cr) 1,899.85 44.50% 55.28% No. of Shares Outstanding 11,56,81,390 Face Value (₹) 2.00 52 week High-Low (₹) 184.80 – 58.26
Slide 49: The Way Ahead
The Way Ahead
Slide 50: Strategic Initiatives for Ash & Coal Handling Expansion
Strategic Initiatives for Ash & Coal Handling Expansion Ash & Coal Handling • Increasing Capacity: Doubling the capacity for ash collection, transportation, and disposal to accommodate larger volumes of ash and coal • Geographical Expansion: Entering 10 additional states to tap into new markets • Fl
Slide 51: Driving Growth: Advancing Refrigerant Gases & Green Mobility
Driving Growth: Advancing Refrigerant Gases & Green Mobility Refrigerant Gases Green Mobility • New Contracts: The Company will explore both organic as well as • Geographical & Capacity Expansion: Refex is planning to set up inorganic expansion strategy to deploy more vehicles to support refilling f
Slide 52: Power Trading Expansion: Diversifying Nationwide
Power Trading Expansion: Diversifying Nationwide Power Trading • The company aims to diversify its contract portfolio by engaging in short-term and medium-term agreements with both power generators and buyers nationwide • Embracing both bilateral modes and electronic platforms like power exchanges a
Slide 53: Thank You
Thank You Refex Industries Limited 2nd Floor, No.313, Refex Towers, Sterling Road, Nungambakkam, Chennai, Tamil Nadu – 600034 E-mail: investor.relations@refex.co.in Phone: 044 4340 5900 Website: www.refex.co.in Kirin Advisors Private Limited 713-B, Lodha Supremus II, Wagle Estate, Thane West – 400 6
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