Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q4 FY24 Earnings Presentation
32 slides from Dwarikesh Sugar Industries's earnings presentation, Apr 30, 2024
Slide 1: Regulation 30 disclosure cover letter
REF: DSIL/2024-25/040 April 30, 2024 Corporate Relationship Department National Stock Exchange of India Limited BSE Limited “Exchange Plaza” Phiroze Jeejeebhoy Towers Bandra – Kurla Complex, Dalal Street, Fort, Mumbai - 400 001 Bandra [E], Mumbai - 400 051 Fax: 22723 2082 /3132 Scrip Code - 532610 S
Slide 2: Investor Presentation Q4 & FY24 Results
INVESTOR PRESENTATION C O M PA N Y P E R F O R M A N C E Q4 & FY24 Results 30 April, 2024
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscr
Slide 4: Earnings Call invitation
EARNINGS CALL You are cordially invited to the Q4 FY24 Earnings Conference Call of Dwarikesh Sugar Industries Limited on Tuesday, April 30, 2024 at 3:30PM IST Represented by: Mr. Vijay S. Banka Managing Director Mr. B. J. Maheshwari Managing Director & Company Secretary Cum Chief Compliance Officer
Slide 5: Table of contents
Table of contents Sector outlook 05 Business overview 07 Financial performance 12 Operational trends 18 Pictures of our facilities 25
Slide 6: Sector Outlook
SECTOR OUTLOOK According to the latest report from S & P Global the projected surplus for the 2023-24 is a massive 6.01 million tons, the highest since SS 2017-18. This upward revision is attributed to a combination of factors, including elevated production levels and decreased consumption. Brazil h
Slide 7: Sector Outlook Continued
Continued.. As per the orders of the Central Government, not only was there an immediate curb on use of juice / syrup for making ethanol, but the quantity of ethanol produced using B heavy molasses was also limited to the original quantity offered by sugar mills / distilleries to the Oil Marketing C
Slide 8: Business Overview
BUSINESS OVERVIEW
Slide 9: At a Glance
AT A GLANCE Capacity Dwarikesh Dwarikesh Dwarikesh Aggregate Nagar Puram Dham Sugar (TCD) 6,500 7,500 7,500 21,500 Cogeneration 94 20 33 41 (MW) (Surplus: c. 54) Distillery (LPD) 1,62,500 - 1,75,000 3,37,500 • Three plants located in Uttar Pradesh, one of India’s largest sugar producing states ⚬ Two
Slide 10: Operations Overview
OPERATIONS OVERVIEW Farmers Molasses (nearly 1.54 lakhs) (External Sales) Industrial Alcohol Cane Development & (162.5 KLPD at Dwarikesh Sugarcane Molasses Distillery Marketing Nagar & 175 KLPD at Dwarikesh Dham) Crushing Clarification Sugar Dwarikesh Sugar (3 facilities) Sugarcane Juice Evaporation
Slide 11: Management
MANAGEMENT G R Morarka Vijay S BJ Banka Maheshwari ⚬ Founder and Promoter ⚬ Managing Director ⚬ Managing Director & Company ⚬ Executive Chairman Commerce graduate ⚬ Chartered Accountant Secretary cum Chief Compliance & ICWA Inter ⚬ Associated with the Officer ⚬ Received ‘Indira Gandhi Priyadarshini
Slide 12: Key Milestones
KEY MILESTONES Set up DN Distillery with 30,000 LPD Debottlenecking of DN capacity; 100 KLPD Distillery Distillery by capacity expansion Commissioned Dwarikesh Puram Commencement of DN Crushing capacity commissioning project successfully (DP) plant with crushing capacity of surplus power supply reac
Slide 13: Financial Performance Q4 & FY24
FINANCIAL PERFORMANCE Q4 & FY24
Slide 14: Performance Highlight
PERFORMANCE HIGHLIGHT In INR million Q4FY24 FY24 Q4FY23 FY23 Total Income 3,820.6 17,212.4 5,344.4 21,170.0 EBIDTA 753.0 2,166.2 883.2 2,285.7 PAT 228.9 835.2 466.9 1,047.5 In INR Q3FY24 9MFY24 Q3FY23 FY23 EPS 1.22 4.44 2.48 5.56 During FY23, depreciation has been suitably adjusted to exclude amount
Slide 15: Quarterly Trends
QUARTERLY TRENDS Revenue from Operations (Million) EBITDA (Million) PAT (Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin PAT Margin 3763.0 19.8% 8.8% 6.0% 16.6% 3410.0 883.2 753.0 466.9 228.9 5325.5 3799.4 Q4FY23 Q4FY24 Q4FY23 Q4FY24 Q4FY23 Q4FY24 PAT Margin is PAT / Revenue fr
Slide 16: FY24 Trends
FY24 TRENDS Revenue from Operations - External (INR Million) EBITDA (INR Million) PAT(Million) EBITDA Margin PAT Margin 5.0% 12.7% 4.9% 10.9% 2285.7 2166.2 1047.5 835.2 21029.6 17095.7 FY23 FY24 FY23 FY24 PAT Margin is PAT / Revenue from operations EBITDA Margin is EBITDA / Revenue from operations P
Slide 17: Financials - Summary
FINANCIALS - SUMMARY In INR million INCOME Q4 FY24 FY24 Q4 FY23 FY23 REMARKS Lower during the Q4FY24 & FY24 on account of Revenue from operations 3,799.4 17,095.7 5,325.5 21,029.6 lower volume of sugar sold due to lesser releases Other income 21.2 116.7 18.9 140.4 -- Total Revenue 3,820.6 17,212.4 5
Slide 18: Financials - Summary (continued)
FINANCIALS - SUMMARY (continued) In INR million INCOME Q4FY24 FY24 Q4FY23 FY 23 REMARKS Higher during FY24 on account of depreciation in respect of DD Distillery unit (Commenced operations Depreciation and amortization expense 126.4 525.0 128.1 502.3 during Q2FY23) Other expense 231.6 1,268.8 297.1
Slide 19: Operational Trends
OPERATIONAL TRENDS
Slide 20: Sugar Business Highlights
SUGAR BUSINESS HIGHLIGHTS ▪ During the sugar season (SS) 2022-23, our company crushed 4.01 crore quintals of sugarcane, achieving a gross recovery rate of 11.93%. However, the beginning of crushing for SS 2023-24 at our DN & DP units on October 31, 2023, and at the DD unit on November 5, 2023, was m
Slide 21: Sugar Business - Quarterly Snapshot
SUGAR BUSINESS - QUARTERLY SNAPSHOT Sugar Sold ('000 Quintal) Revenue from Operations (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA (INR Million) 3763.0 EBITDA Margin 16.0% 15.1% 14.0% 576.4 566.1 12.0% 10.8% 10.0% 8.0% 3410.0 6.0% 4.0% 875.4 568.7 2.0% 5348.9 3754.7 0.0% Q4FY2
Slide 22: Sugar Business - FY24 Snapshot
SUGAR BUSINESS – FY24 SNAPSHOT Sugar Sold ('000 Quintals) Revenue from Operations (INR Million) Average Domestic Sugar Realization(INR/Quintal) EBITDA (INR Million) EBITDA Margin 3707 5.8% 1075.9 888.8 5.4% 3464 4200.5 2752.1 19808.6 15452.1 FY23 FY24 FY23 FY24 EBITDA Margin is EBITDA / Revenue from
Slide 23: Cogeneration Data
COGENERATION DATA HIGHLIGHTS – FY24 Power Generated (Mn Units) Power Exported (Mn Unit) Power revenue during FY24 has decreased by 2%, reaching ₹ 47.48 crore as, Average Realization (INR/Unit) compared to ₹ 48.61 crore during the corresponding period in the previous year. The generation of power is
Slide 24: Distillery Quarterly Snapshot
DISTILLERY QUARTERLY SNAPSHOT HIGHLIGHTS ▪ The sale volume of Industrial Alcohol declined by 28% in Q4 FY24 and increased by 12% in FY24 compared to the corresponding periods in FY23. Similarly revenue also declined by 34% during Q4 FY24 & increased by 10% in FY24 as compared to corresponding period
Slide 25: Distillery FY24 Snapshot
DISTILLERY FY24 SNAPSHOT Industrial Alcohol Sold (Mn L) Revenue from Operations (INR Million) Average Realization(INR/L) EBITDA (INR Million) EBITDA Margin 62.5 22.6% 21.7% 61.8 1277.4 1209.8 5355.0 5891.1 84.2 94.4 FY23 FY24 FY23 FY24 EBITDA Margin is EBITDA / Revenue from operations Operational tr
Slide 26: Pictures of Our Facilities
PICTURES OF OUR FACILITIES
Slide 27: Dwarikesh Nagar Unit (Bijnor District)
DWARIKESH NAGAR UNIT (BIJNOR DISTRICT) Sugar plant overview Distillation house & multi-effect evaporator Bagasse silos & feeders of boiler Continuous pan
Slide 28: Dwarikesh Puram Unit (Bijnor District)
DWARIKESH PURAM UNIT (BIJNOR DISTRICT) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 29: Dwarikesh Dham Unit (Bareilly District)
DWARIKESH DHAM UNIT (BAREILLY DISTRICT) Facility overview 24 MW TG set Pan station Clarification section
Slide 30: Dwarikesh Nagar Distillery (Bijnor District)
DWARIKESH NAGAR DISTILLERY (BIJNOR DISTRICT) 162.5 KLPD distillery
Slide 31: Dwarikesh Dham Distillery (Bareilly District)
DWARIKESH DHAM DISTILLERY (BAREILLY DISTRICT) 175 KLPD distillery
Slide 32: Thank You
THANK YOU Vijay S. Banka Poonam Saney Rashi Sanghi Managing Director (DSIL) Adfactors PR Pvt. Ltd. Adfactors PR Pvt. Ltd. Email: vsbanka@dwarikesh.com Email: poonam.saney@adfactorspr.com Email: rashi.sanghi@adfactorspr.com
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