Balrampur Chini Mills Ltd · NSE:BALRAMCHIN
Balrampur Chini Mills — Q3 FY21 Earnings Presentation
33 slides from Balrampur Chini Mills's earnings presentation, Feb 2, 2021
Slide 1: Cover letter to stock exchanges
BALRAMPUR CHINI MILLS LIMITED CIN - L15421WB1975PLC030118 REGO. OFF. : "FMC FORTUNA" 2ND FLOOR, 234/3A, A. J.C. BOSE ROAD, KOLKATA- 700 020 PHONE: 2287-4749 •FAX: (033) 2283-4487 • Email : bcml@bcml.in • www.chini.com 2nd February, 2021 National Stock Exchange of India Limited BSE Limited Listing De
Slide 2: Q3 & 9M FY21 Results Presentation
Balrampur Chini Mills Limited Q3 & 9M FY21 Results Presentation
Slide 3: Safe Harbour
Safe Harbour Certain statements made in this document may constitute forward-looking statements. These forward- looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, agricultural policies, climatic conditions, technologic
Slide 4: Conference Call Details
Conference Call Details Timing 12:00 noon on Wednesday, February 3, 2021 Conference dial-in Primary number: +91 22 6280 1141 / 7115 8042 Toll free Number Singapore: 800 101 2045 Hong Kong: 800 964 448 USA: 1 866 746 2133 UK: 0 808 101 1573 3
Slide 5: Table of Contents
Table of Contents Industry Overview 06-09 Company Overview 11-12 Q2 & H1 Results Highlights 14-25 Annexure 27-31 4
Slide 6: Industry Overview
py \| 4 i Pa a se - |] a \ : Bi / Vi ee, il Yel / hy | Industry Overview
Slide 7: Classical Indian Sugar Sector Cycle
Classical Indian Sugar Sector Cycle Natural Cyclicality Induced Cyclicality (due to cane arrears) Issues of the Induced Cyclicality Erratic supply Lower Cane for sugar Lower sugar production Lower cane production Lower sugar availability High cane arrears Decrease in area under cane cultivation Incr
Slide 8: Current Scenario: Induced Sugar Cycle no Longer Prevalent
Current Scenario: Induced Sugar Cycle no Longer Prevalent End of Induced Cyclicality (structurally handled) Structural Improvement Improvements in Cane Recovery New variety of sugarcane led to structural Minimum improvement in cane recovery Rational Selling Price Cane pricing (MSP) of Sugar MSP of s
Slide 9: Central Government Policies
Central Government Policies o Fixed Fair & Remunerative Price (FRP) for sugar season 2020-21 at ` 285 per quintal of sugarcane, linked to a basic recovery of 10% as compared to `275 per quintal for last year. o Minimum Selling Price (MSP) of sugar which was first time fixed at `29000/- per MT in Jun
Slide 10: Central Government Policies… contd.
Central Government Policies… contd. o The pricing methodology for Ethanol also remained unchanged. Ethanol prices are announced annually by the Central Government based on a formula, which considers the price of sugar and FRP of sugarcane to calculate the ethanol procurement prices. The ethanol pric
Slide 11: Company Overview
Company Overview
Slide 12: A Leading Integrated Sugar Player In India
A Leading Integrated Sugar Player In India Maximize value accrual from every tonne of cane crushed Strong management team with wherein close proximity years of sugar industry experience between plants plays a vital role Management Focus on Value Expertise Maximization Operational Sizeable Healthy Ef
Slide 13: Plant Locations
Plant Locations Unit-wise Capacities:- COGEN POWER (MW) Sugar Distillery UNITS SALEABLE Capacity (TCD) (KLPD) CAPACITY BALRAMPUR 12,000 160 27.25 BABHNAN 10,000 100 10.00 Gularia TULSIPUR 7,000 - - Tulsipur Kumbhi HAIDERGARH 5,000 - 20.95 Balrampur AKBARPUR 7,500 - 11.00 MANKAPUR 8,000 100 30.00 UTT
Slide 14: Q3 & 9M Results Highlights
Q3 & 9M Results Highlights
Slide 15: Management's Message
Management’s Message “The Company has delivered a muted performance during the quarter under review. This was mainly on account of lower sugar off-take and subdued sugar prices. Though sugarcane crushing was at par with last year, sugar recovery was lower owing to adverse weather conditions and red
Slide 16: Performance Highlights (Standalone)
Performance Highlights (Standalone) Revenue (` crores) EBIDTA (` crores) 3,792.30 3,001.25 440.64 381.59 1,195.77 110.21 1,072.17 36.40 9MFY20 9MFY21 Q3FY20 Q3FY21 9MFY20 9MFY21 Q3FY20 Q3FY21 EBIDTA lower by 13.4% in 9MFY21 as compared to 9MFY20 26.4% increase in revenues in 9MFY21 as compared to 9M
Slide 17: Performance Highlights (Consolidated)
Performance Highlights (Consolidated) Revenue (` crores) 3,792.30 3,001.25 1,195.77 1,072.17 9MFY20 9MFY21 Q3FY20 Q3FY21 Total Comprehensive Income (TCI) (` crores) 275.32 239.94 71.65 25.43 9MFY20 9MFY21 Q3FY20 Q3FY21 16
Slide 18: Company Highlights
Company Highlights The Board of Directors at its meeting held on 2nd February, 2021, has declared an interim dividend of `2.50.(250%) per Equity Share of `1/- each, aggregating to ` 52.50 crores. Long Term and Short Term Ratings of the Company stands at AA and A1+ respectively as assigned by ICRA an
Slide 19: Financial Overview – Standalone Results
Financial Overview – Standalone Results Q3 FY20 Q3 FY21 YoY 9MFY20 9MFY21 YoY Particulars (` In crores) (` In crores) change (%) (` In crores) (` In crores) change (%) Revenue from Operations 1195.77 1072.17 -10.3% 3001.25 3792.30 26.4% EBITDA 110.21 36.40 -67.0% 440.64 381.59 -13.4% EBITDA Margin (
Slide 20: Financial Overview – Consolidated Results
Financial Overview – Consolidated Results Q3 FY20 Q3 FY21 YoY 9MFY20 9MFY21 YoY Particulars (` In crores) (` In crores) change (%) (` In crores) (` In crores) change (%) Revenue from Operations 1195.77 1072.17 -10.3% 3001.25 3792.30 26.4% Profit Before Tax 84.50 14.36 -83.0% 337.02 286.84 -14.9% Tax
Slide 21: Segmental Overview – Sugar
Segmental Overview – Sugar YoY YoY Financial U.O.M. Q3FY20 Q3FY21 9MFY20 9MFY21 change (%) change (%) Segment Revenues * (` in crores) 1153.03 1032.23 -10.5% 2740.66 3436.78 25.4% Segment PBIT (` in crores) 48.68 (33.01) - 212.11 85.42 -59.7% PBIT % % 4.2% -3.2% - 7.7% 2.5% - YoY YoY Operational U.O
Slide 22: Segmental Overview – Sugar … contd.
Segmental Overview – Sugar … contd. Sugarcane Crushed (lac quintals) Sugar Recovery (%) (post B-heavy diversion) 1,103.62 1,020.30 11.58 11.44 11.25 927.83 10.84 10.77 794.65 10.66 10.33 9.77 429.50 463.98 262.15 263.21 FY17 FY18 FY19 FY20 9M 9M Q3 Q3 FY17 FY18 FY19 FY20 9M 9M Q3 Q3 FY20 FY21 FY20 F
Slide 23: Segmental Overview – Distillery
Segmental Overview – Distillery YoY YoY Financial U.O.M. Q3FY20 Q3FY21 9MFY20 9MFY21 change (%) change (%) Segment Revenues * (` in crores) 102.77 134.80 31.2% 375.84 620.88 65.2% Segment PBIT (` in crores) 39.51 48.86 23.7% 192.00 245.71 28.0% PBIT % % 38.4% 36.2% 51.1% 39.6% YoY YoY Operational U.
Slide 24: Segmental Overview – Distillery … contd.
Segmental Overview – Distillery … contd. Total Production (Cr BL) Ethanol Production from C-heavy Ethanol Production from B-heavy molasses route (Cr BL) molasses route (Cr BL) 12.76 11.86 10.66 7.21 8.10 8.15 10.29 5.92 7.18 7.90 7.99 7.13 3.58 2.29 2.99 4.53 1.56 1.37 - - - 0.22 0.22 1.18 FY17 FY18
Slide 25: Segmental Overview – Co-generation
Segmental Overview – Co-generation YoY YoY Financial U.O.M. Q3FY20 Q3FY21 9MFY20 9MFY21 change (%) change (%) Segment Revenues (` in crores) 109.17 111.61 2.2% 244.74 238.05 -2.7% Segment PBIT (` in crores) 15.38 14.55 -5.4% 13.37 16.25 21.5% PBIT % % 14.1% 13.0% 5.5% 6.8% YoY YoY Operational U.O.M.
Slide 26: Segmental Overview – Co-generation … contd.
Segmental Overview – Co-generation … contd. Production (Crore units) 104.97 87.41 90.24 74.69 51.34 41.98 19.75 20.21 FY17 FY18 FY19 FY20 9M 9M Q3 Q3 FY20 FY21 FY20 FY21 Power sales (Crore units) Average Realization (` per unit) 66.38 4.81 4.81 4.94 53.07 56.80 52.61 3.06 3.10 3.19 3.11 3.18 31.64 2
Slide 27: Annexures
Annexures
Slide 28: Cash Flow Statement – on standalone basis
Cash Flow Statement – on standalone basis (` in crore) Sl. Particulars Mar-20 Sep-19 Sep-20 1 PBT 554.93 252.52 272.49 2 Cash generated from operating activities 849.61 673.68 1498.70 3 Net cash (used) in investing activities (304.71) (220.87) (27.17) 4 Net cash (used) in financing activities (545.5
Slide 29: Borrowings, Receivables & Ratios
Borrowings, Receivables & Ratios 296 606 239 331 - 295 308 634 197 293 176 155 1,156 1,057 773 406 334 573 2,295 143 413 1,899 178 199 - 199 1,633 1,601 352 464 448 430 407 386 884 915 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Sep-19 Dec-19 Mar-20 Jun-20 Sep-20 Dec-20 Cane Dues Short Term Bank Borro
Slide 30: Distribution to Shareholders
Distribution to Shareholders (` in crore unless otherwise mentioned) Sl. Particulars 2016-17 2017-18 2018-19 2019-20 2020-21 1 By way of Dividend * 103.20 70.72 68.85 66.31 52.50 ^ - Dividend per share - (`) 3.50 2.50 2.50 2.50 2.50 ^ 2 By way of buy-back of shares 175.00 99.00 - 147.67 221.93 ** 3
Slide 31: Key Market Statistics
Key Market Statistics Particulars As on December 31, 2020 Shareholding Pattern As on 31.12.2020 (in %) BSE / NSE Ticker 500038 / BALRAMCHIN CMP BSE / NSE (Rs.) 172.15 / 172.00 Others (31.12.2020) 26% Promoter Market Cap. BSE / NSE (Rs. Crore) 3,615.15 / 3,612.00 41% DII 13% No. of Outstanding shares
Slide 32: Contact Us
Contact Us For further information contact: About Balrampur Chini Mills Limited Pramod Patwari CIN: L15421WB1975PLC030118 Chief Financial Officer Balrampur Chini Mills Limited (BCML) is one of the largest integrated Balrampur Chini Mills Limited sugar companies in India. The allied businesses of the
Slide 33: Thank You
"Thank You es
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