Ifgl Refractories Ltd. · NSE:IFGLEXPOR
Ifgl Refractories — Q3 FY21 Earnings Presentation
32 slides from Ifgl Refractories's earnings presentation, Feb 15, 2021
Slide 1: Regulation 30 disclosure covering letter to stock exchanges
-====��� REFRACTORIES LIMITED Head & Corporate Office 3, Netaji Subhas Road, Kolkata - 700 001, Indio Phone: +91 3340106100, Fax: +91 332243088.6 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com 15 th February, 2021 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block- G
Slide 2: IFGL Refractories Limited Investor Presentation – Q3FY21
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q3FY21 February 2021
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: Our Performance
Our Performance
Slide 5: Q3FY21 Performance Snapshot
Q3FY21 Performance Snapshot Strong Standalone & Consolidated Performance Highest Ever Highest Ever Rs. 181.6 Crores Rs. 299.7 Crores Standalone Consolidated Revenue Up 47% YoY Revenue Up 37% YoY Highest Ever Highest Ever Rs. 43.2 Crores Rs. 59.6 Crores Standalone Consolidated EBITDA Up 110% YoY EBIT
Slide 6: Q3FY21 Standalone Financial Highlights
Q3FY21 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +47% +110% +710 bps 181.6 43.2 23.8% 123.2 16.7% 20.6 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Profit After Tax [Rs. Crs.] Cash PAT [Rs. Crs.] Strong demand recovery in all the +239% +90% markets, imp
Slide 7: Q3FY21 Standalone Profit & Loss
Q3FY21 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q3 FY21 Q3 FY20 Y-o-Y% Q2 FY21 Q-o-Q% 9MFY21 9MFY20 Y-o-Y% Total Income 181.6 123.2 47% 167.6 8% 479.1 388.9 23% Raw Material 81.0 61.5 78.5 220.3 200.7 Employee Expenses 14.6 11.5 13.1 39.4 32.9 Other Expenses 42.9 29.5 39.5 113.6 94.9 EBITDA
Slide 8: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Sep-20 Mar-20 Equity & Liabilities (in Rs. Crs ) Sep-20 Mar-20 Non current Assets 311.9 327.9 Equity 545.1 514.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 76.5 80.7 Other Equity 509.1 478.0 Right to Use Asset 15.9 16.2 Capital WIP 7
Slide 9: Q3FY21 Consolidated Financial Highlights
Q3FY21 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +37% +158% +930 bps 299.7 59.6 19.9% 219.4 10.5% 23.1 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Q3FY20 Q3FY21 Profit After Tax [Rs. Crs.] Cash PAT [Rs. Crs.] +413% +146% 37.3 49.0 20.0 7.3 Q3FY20 Q3FY21 Q3FY20 Q3F
Slide 10: Q3FY21 Consolidated Profit & Loss
Q3FY21 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q3 FY21 Q3 FY20 Y-o-Y% Q2 FY21 Q-o-Q% 9MFY21 9MFY20 Y-o-Y% Total Income 299.7 219.4 37% 248.4 21% 754.5 703.0 7% Raw Material 135.8 108.4 109.5 341.3 351.9 Employee Expenses 40.1 38.2 37.9 112.8 113.1 Other Expenses 64.2 49.7 59.7 173.1 158.
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Sep-20 Mar-20 Equity & Liabilities (in Rs. Crs ) Sep-20 Mar-20 Non current Assets 443.1 460.6 Equity 842.6 809.0 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 137.5 152.3 Other Equity 806.5 772.9 Right to Use Asset 21.0 22.0 Capital W
Slide 12: Subsidiaries Performance
Subsidiaries Performance EI Ceramics [$ mn] Monocon Group [GBP mn] 14.6 20.2 12.1 1.8 1.8 19.2 1.3 1.4 1.1 0.8 0.8 0.5 9MFY20 9MFY21 Revenue 9MFY20 9MFY21 EBITDA PAT Hofmann Ceramic [Euro mn] 6.0 Performance of overseas subsidiaries has witnessed a sharp improvement during 4.2 Q3FY21. Demand in US a
Slide 13: Ongoing Capex to boost performance
Ongoing Capex to boost performance 1 IFGL Odisha Plant ➢ ~Rs. 10 Cr : For Normal Capex & debottlenecking by FY22 ➢ Expansion phase – I completed in FY 20 2 IFGL Kandla Plant ➢ Further cost of Rs. 10 Cr by H1FY22. Work in full swing ➢ 10-acre Land acquired for manufacturing of New products including
Slide 14: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY16 FY17 FY18 FY19 FY20 Total Income 722.1 769.5 839.7 955.4 928.3 Materials consumed 365.2 362.0 421.4 477.0 459.1 Employee Expenses 119.6 120.9 126.7 146.2 150.5 Other Expenses 156.1 183.5 181.3 218.5 216.2 EBITDA 81.2 103.1 110.3 113
Slide 15: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY17 FY18 FY19 FY20 9MFY21 FY17 FY18 FY19 FY20 9MFY21 FY17 FY18 FY19 FY20 9MFY21 112.5 284.3 27.9 17.7 84.0 89.4 204.5 52.0 48.3 134.2 -44.8 94.8 56.0 -152.4 -236.0 Net Debt : Equit
Slide 16: …with consistent Payout
…with consistent Payout 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 5.4* Dividend Per Share 2.00 2.00 2.00 2.50 2.50 * EPS lower du
Slide 17: Industry Overview
Industry Overview
Slide 18: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) 1,767 1,725 1,795 859 815 465 452 745 408 2019 2020F 2021F 2019 2020F 2021F 2019 2020F 2021F ➢ Global outlook: ▪ As per WSA, global steel demand while still showing a decline in demand for 2020, is much smaller
Slide 19: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2019 2020F 2021F +4% 1,795 1,767 +3% 1,725 1,313 1,281 +11% 1,255 +7% 158 135 134 149 +5% 115 122 +8% +12% +9% +6% 48 39 41 59 54 57 42 37 41 34 35 39 36 31 33 USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania World South America St
Slide 20: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2019 2020F 2021F 0% 980.1 980.1 907.5 +23% +6% 102.6 100.4 97.7 +8% +4% 81.9 82.3 87.6 63.2 50.8 54.9 53.2 50.8 48.9 China India United States Japan South Korea Source: World Steel Association ➢ India outlook: ▪ India had implemented one of the strictest lockdow
Slide 21: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 22: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 23: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 24: Emerging Opportunities for Indian Market: Aatmanirbhar Bharat
Emerging Opportunities for Indian Market AATMANIRBHAR BHARAT ❑ AATMANIRBHAR BHARAT is the vision of the Government to make India a self-reliant nation. PM Modi has promoted “Vocal about Local” campaign which promotes Indian Companies to lead India to become self reliant ❑ Self-reliant India will ens
Slide 25: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 26: About Us
25 About Us
Slide 27: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 26
Slide 28: Corporate Structure… simplified to create value for shareholders
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% Plants at Kalunga, Odisha, India IFGL Worldwide Holdings Limited + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Hofmann Monocon Group EI Ceramics Ceramic Upcoming Plant at Visakhapatna
Slide 29: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. P. Bajoria Mr. Kamal Sarda Chairman Managing Director Director & Chief Financial Officer • Promoter of S K Bajoria Group based at • Associated with IFGL from the very early days • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversifi
Slide 30: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 29
Slide 31: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 32: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agrawal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr