Balrampur Chini Mills Ltd · NSE:BALRAMCHIN
Balrampur Chini Mills — H1 FY2016 Earnings Presentation
18 slides from Balrampur Chini Mills's earnings presentation, Nov 3, 2015
Slide 1: Q2 & H1 FY2016 Results Presentation
BALRAMPUR CHINI MILLS LIMITED Q2 & H1 FY2016 RESULTS PRESENTATION NOVEMBER 3, 2015
Slide 2: Forward-looking statements disclaimer
Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, agricultural policies, climatic conditions, technological risks, and many other fac
Slide 3: Agenda
Title Slide No Conference Call Details 4 Performance Highlights 6 Management’s Message 7 Company Highlights 8 Sector Perspectives 10 Financial Overview 11 Segmental Overview 12 3
Slide 4: Conference Call Details
Timing 4.30 pm IST on Tuesday, November 3, 2015 Primary number: +91 22 6746 8354 Conference dial - in Seco ndary number: +91 22 3938 1071 Singapore: 800 101 2045 Hong Kong: 800 964 448 Toll Free Number USA: 1 866 746 2133 UK: 0 808 101 1573 4
Slide 5: Company Highlights
Sugarcane crushing capacity at 76,500 TCD, Distillery and Co-generation Large Capacities operations of 320 KLPD and 148.2 MW (Saleable) respectively Focus on Value One of the pioneers of Integrated Business Model in India that Maximization stabilizes revenue streams along with providing a hedge agai
Slide 6: Q2 FY2016 highlights v/s Q2 FY2015
Q2 FY2016 highlights v/s Q2 FY2015 Net Revenue stood at ` 5,010.7 million as compared to ` 6,826.1 EBITDA stood at ` 33.9 million as compared to ` 0.9 Net Loss stood at ` 144.2 million as compared to loss of ` 639.0 Diluted EPS at ` (0.59) per share H1 FY2016 highlights v/s H1 FY2015 Net R
Slide 7: Management's Message
Commenting on the performance for Q2 & H1 FY2016, Mr. Vivek Saraogi, Managing Director, Balrampur Chini Mills Limited (BCML), said: “We reported subdued results during the quarter on the back of losses witnessed in the sugar segment. In addition to the mismatch between sugarcane and sugar prices, ov
Slide 8: BCML's current cane dues stands at ` 119.4 crores
In the upcoming sugar season 2015 - 16, BCML expects to crush 7.6 million tones of sugarcane as compared to the previous season Uttar Pradesh continues to witness sugarcane arrears owing to unviable sugar operations given high State Advised Price (SAP) for sugarcane even after accounting for the
Slide 9: Long-term debt and debt-equity ratio
Long-term Debt-Equity ratio at 0.62 on September 30, 2015 Long-term debt at ` 6508.3 million on September 30, 2015 Interest cost stood at ` 492.2 million in HI FY16 as compared to ` 593.7 million in H1 FY15 During the quarter under review a sum of ` 1990.4 million was disbursed as soft loan
Slide 10: Sector Perspectives: India sugar production
India’s sugar production for SS 2015-16 is estimated at 26.5 million tonnes as per initial estimates of ISMA, the annual domestic consumption is expected at ~25 million tonnes Production in UP is estimated at around 7.3 million tonnes Production in Maharashtra is estimated at 8.5 million tonne
Slide 11: Statement of Profit & Loss
Statement of Profit & Loss Q2 Q2 % Y-o-Y H1 H1 % Y-o-Y (` million) FY2016 FY2015 Growth FY2016 FY2015 Growth Net Operating 5,010.7 6826.1 (26.59%) 11,371.9 14,869.7 (23.52%) Revenue EBITDA 33.9 0.9 - (118.4) 467.3 - EBITDA Margin (%) 0.68% 0.01% - (1.04%) 3.14% - Depreciation 283.7 399.9 (29.06%) 56
Slide 12: Sugar segment results
Segment % contribution % contribution (` million) Revenues to Revenues PBIT to PBIT Q2 FY2016 4,532.3 83.89% (139.5) - Q2 FY2015 5,950.8 85.22% (642.6) - % Shift (23.84%) - - - H1FY2016 9,790.4 80.14% (1,328.1) - H1FY2015 12,770.6 82.40% (1,243.9) - % Shift (23.34%) - - - Sugar segment were revenu
Slide 13: Sugar production and realizations
Cane Crushed (Lakh Quintals) Recovery (%) 1000 10.00 810.52 805.69 9.83 772.80 9.77 800 9.80 600 9.60 9.52 400 9.40 200 9.20 - - 0 9.00 FY 2013 FY 2014 FY 2015 Q2FY15 Q2FY16 FY 2013 FY 2014 FY 2015 Q2 FY15 Q2 FY16 Production (Lakh Quintals) Avg. Realization – Free Sugar (` per kg) 100 34.00 33.01 77
Slide 14: Distillery segment results
Segment % contribution % contribution (` million) Revenues to Revenues PBIT to PBIT Q4 FY2016 720.9 13.34% 323.9 - Q4 FY2015 843.0 12.07% 435.3 - % Shift (14.48%) - (25.59%) - H1FY2016 1,359.5 11.13% 659.4 - H1FY2015 1,536.2 9.91% 799.2 - % Shift (11.50%) - (17.49%) - The segment delivered subdued
Slide 15: Distillery sales, production and realizations
Production (KL) Total Sales (KL) 100,000 80,000 74,080 74,202 70,000 66,217 77,950 80,000 67,666 69,903 60,000 60,000 50,000 40,000 40,000 30,000 22580 17959 20,000 20,000 7816 3405 10,000 - - FY 2013 FY 2014 FY 2015 Q2FY15 Q2FY16 FY 2013 FY 2014 FY 2015 Q2FY15 Q2FY16 Ethanol production (KL) Blended
Slide 16: Co-generation segment results
Segment % contribution % contribution (` million) Revenues to Revenues PBIT to PBIT Q2 FY2016 144.5 2.67% (67.8) - Q2 FY2015 184.0 2.64% (90.6) - % Shift (21.47%) - - - H1FY2016 1,041.5 8.53% 385.5 - H1FY2015 1,169.8 7.55% 470.8 - % Shift (10.97%) - (18.12%) - Co-generation delivered subdued perfo
Slide 17: Power generation and sales
Total Power Generation (Lakh units) 10,000 8,295 8,000 7,489 7,505 6,000 4,000 2,000 399 175 - FY 2013 FY 2014 FY 2015 Q2 FY15 Q2 FY16 Power sales from Bagasse (Lakh units) Realization from Bagasse Based Sales 7,000 (` per unit) 6,168 6,000 5,386 5,474 4.80 4.60 5,000 4.60 4,000 4.40 4.23 4.25 4.17
Slide 18: About Balrampur Chini Mills Limited
About Balrampur Chini Mills Limited Balrampur Chini Mills Limited (BCML) is one of the largest integrated sugar companies in India. The allied businesses of the Company comprise distillery operations, cogeneration of power and manufacturing of organic manure. The Company presently has ten sugar fact
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