Gfl Ltd · NSE:GFLLIMITED
Gfl — Gujarat Fluorochemicals — Q4 FY17 Earnings Presentation
25 slides from Gfl's earnings presentation, May 2017
Slide 1: Quarterly Investor Update Q4 & FY17
GUJARAT FLUOROCHEMICALS LIMITED QUARTERLY INVESTOR UPDATE Q4 & FY17
Slide 2: Disclaimer
DISCLAIMER This presentation and the following discussion may contain “forward looking statements” by Gujarat Fluorochemicals Limited (“GFL” or “the Company”) that are not historical in nature. These forward looking statements, which may include statements relating to future state of affairs, result
Slide 3: Discussion Summary
DISCUSSION SUMMARY Q4 & FY17 RESULTS HIGHLIGHTS KEY HIGHLIGHTS CONSOLIDATED RESULTS CHEMICALS BUSINESS WIND TURBINE MANUFACTURING BUSINESS WIND FARMING BUSINESS FILM EXHIBITION BUSINESS SHAREHOLDING STRUCTURE ANNEXURE 3
Slide 4: Key Highlights
KEY HIGHLIGHTS Upturn in chemicals business led by improved sales in PTFE segment CHEMICALS PTFE volumes up 27% BUSINESS Chemicals business revenues up 7%, EBITDA up 7%, PAT up 53% WIND TURBINE Adversely impacted due to slowdown in signing of PPAs due to shift from FIT market MANUFACTURING t
Slide 5: Consolidated Results
Q4 & FY17 – RESULTS HIGHLIGHTS CONSOLIDATED RESULTS Q4 FY17 YoY ANALYSIS REVENUES * EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN PAT # & PAT MARGIN 2,368.8 21.2% 9.4% 9.4% 9.4% 16.7% 1,890.2 -4.0% 400.0 221.9 396.3 221.9 134 % 177.3 20 % 1% -75.1 20 % Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4
Slide 6: Consolidated Revenues Breakup
Q4 & FY17 – RESULTS HIGHLIGHTS CONSOLIDATED REVENUES BREAKUP In Rs. Cr CONSOLIDATED REVENUES – BUSINESS WISE BREAKUP 2,368.8 7,110.6 252.4 27.7 14 % 5% 6,393.0 1,890.2 1,160.6 167.7 1,220.7 288.5 99 % 55.3 33 % 223.8 1,840.2 4,450.7 45 % 1,019.2 23 % 3,415.0 13 % 7% 421.4 372.5 1,435.2 1,532.1 105.8
Slide 7: Consolidated EBITDA Breakup
Q4 & FY17 – RESULTS HIGHLIGHTS CONSOLIDATED EBITDA BREAKUP CONSOLIDATED EBITDA – BUSINESS WISE BREAKUP In Rs. Cr 1,301.3 396.3 400.0 1,205.0 14.6 72 % 25.1 189.1 23 % 15.1 146.1 57.8 132.4 201.0 283 % 52 % 309.5 26 % 229.5 710.5 21 % 560.4 12 % 7% 70.0 78.6 300.0 280.5 -12.9 9.0 -11.2 -2.5 Q4 FY16 Q
Slide 8: Consolidated PAT Breakup
Q4 & FY17 – RESULTS HIGHLIGHTS CONSOLIDATED PAT BREAKUP CONSOLIDATED PAT – BUSINESS WISE BREAKUP In Rs. Cr 221.9 609.3 17.5 -75.1 81.0 0.3 214.5 98 % 30.6 201.1 127.5 62 % 461.2 303.3 37 % 52.4 26.4 34 % -10.5 -12.6 98 % 146.3 95.4 53 % -246.3 -11.6 -15.4 -16.7 -250.3 -9.0 Q4 FY16 Q4 FY17 FY16 FY17
Slide 9: Consolidated PAT Breakup (before exceptional items)
Q4 & FY17 – RESULTS HIGHLIGHTS CONSOLIDATED PAT BREAKUP CONSOLIDATED PAT # – BUSINESS WISE BREAKUP In Rs. Cr 221.9 609.3 17.5 98 % 81.0 62 % 177.3 459.9 6.1 0.3 113 % 30.6 2.1 158 % 201.1 461.2 34 % 37 % 127.5 303.3 98 % 53 % 52.4 146.3 26.4 95.4 -12.6 -9.0 -11.6 -22.4 -16.7 -10.5 Q4 FY16 Q4 FY17 FY
Slide 10: Chemicals Business - Standalone Results
Q4 & FY17 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS Q4 FY17 YoY ANALYSIS REVENUES * EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 421.4 18.8% 18.7% 12.4% 372.5 7.1% 78.6 52.4 70.0 26.4 13 % 12 % 98 % Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 EBIDTA EBIDTA % PAT PAT % FY17 YoY A
Slide 11: Chemicals Business - Revenues Breakup
Q4 & FY17 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS In Rs. Cr Q4 FY17 YoY ANALYSIS - REVENUES BREAKUP FY17 YoY ANALYSIS - REVENUES BREAKUP 421.4 1,532.1 372.5 28.7 1,435.2 117.2 18.9 52 % 109.6 7% 153.2 527.4 120.6 27 % 437.2 21 % 18 % 12 % 239.7 62.5 73.7 271.6 66.1 6% 62.1 277.5
Slide 12: Wind Turbine Manufacturing Business (Inox Wind Limited)
Q4 & FY17 – RESULTS HIGHLIGHTS WIND TURBINE MANUFACTURING BUSINESS (INOX WIND LIMITED) Q4 FY17 YoY ANALYSIS REVENUES* EBITDA ** and EBITDA MARGIN PAT and PAT MARGIN 22.5% 1,840.2 10.9% 12.5% 16.8% 1,019.2 309.5 201.1 229.5 127.5 45 % 26 % 37 % Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 EBIDTA E
Slide 13: Wind Farming Business (Inox Renewables Limited)
Q4 & FY17 – RESULTS HIGHLIGHTS WIND FARMING BUSINESS (INOX RENEWABLES LIMITED) Q4 FY17 YoY ANALYSIS REVENUES* EBITDA ** and EBITDA MARGIN PAT PAT # and PAT MARGIN 55.3 104.4% 11.0% -37.9% 54.5% 57.8 27.7 -10.5 6.1 158 % 99 % 15.1 283 % -246.3 -10.5 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4
Slide 14: Film Exhibition Business (Inox Leisure Limited)
Q4 & FY17 – RESULTS HIGHLIGHTS FILM EXHIBITION BUSINESS (INOX LEISURE LIMITED) Q4 FY17 YoY ANALYSIS REVENUES* EBITDA ** and EBITDA MARGIN PAT and PAT MARGIN 8.7% 6.9% 288.5 5.8% 252.4 0.1% 25.1 14.6 17.5 14 % 72 % 98 % 0.3 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 Q4 FY16 Q4 FY17 EBIDTA EBIDTA % PAT PAT % FY1
Slide 15: Balance Sheet Update
BALANCE SHEET UPDATE Consolidated MAR-17 Consolidated MAR-17 Net Non Current Assets Total Debt Chemicals Business 2,819.7 Chemicals Business 631.7 Wind Turbine Manufacturing Business 1,103.6 Wind Turbine Manufacturing Business 1,669.8 Wind Farming Business 135.6 Wind Farming Business 1,055.9 Film Ex
Slide 16: Shareholding Structure
SHAREHOLDING STRUCTURE Share Price Performance Market Data As on 26.05.17 (BSE) 800 Market capitalization (Rs Cr) 7,591.2 600 Price (Rs.) 691.05 No. of shares outstanding (Cr) 10.99 400 Face Value (Rs.) 1.0 200 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 52 week High-Low (Rs.) 816.00 – 451.00 % Shareh
Slide 17: Annexure
ANNEXURE 17
Slide 18: Detailed Financials: Standalone P&L Statement
DETAILED FINANCIALS STANDALONE P&L STATEMENT Particulars (Rs Cr) Q4 FY17 Q4 FY16 YoY % Q3 FY17 QoQ % FY17 FY16 YoY % Revenue from Operations 421.4 372.5 13.1% 349.5 20.6% 1,532.1 1,435.2 6.7% Cost of Material Consumed 100.3 81.8 22.6% 87.0 15.3% 374.4 335.5 11.6% Purchases of stock-in-trade 2.2 1.2
Slide 19: Detailed Financials: Standalone Balance Sheet
DETAILED FINANCIALS STANDALONE BALANCE SHEET Particulars (Rs Cr) Mar-17 Mar-16 Particulars (Rs Cr) Mar-17 Mar-16 Equity: Non-current Assets: Equity Share Capital 11.0 11.0 Property, Plant & Equipment 1,858.0 1,926.5 Capital Work-in-progress 139.2 42.0 Other Equity 3,025.4 2,875.5 Investment Property
Slide 20: Detailed Financials: Consolidated P&L Statement
DETAILED FINANCIALS CONSOLIDATED P&L STATEMENT Particulars (Rs Cr) Q4 FY17 Q4 FY16 YoY % Q3 FY17 QoQ % FY17 FY16 YoY % Revenue from Operations 1,890.2 2,368.8 -20.2% 1,837.0 2.9% 6,393.0 7,110.6 -10.1% Cost of Material Consumed 565.0 1,188.7 -52.5% 897.0 -37.0% 2,368.2 3,186.0 -25.7% Purchases of st
Slide 21: Detailed Financials: Consolidated Balance Sheet
DETAILED FINANCIALS CONSOLIDATED BALANCE SHEET Particulars (Rs Cr) Mar-17 Mar-16 Particulars (Rs Cr) Mar-17 Mar-16 Equity: Non-current Assets: Equity Share Capital 11.0 11.0 Property, Plant & Equipment 3,384.5 4,476.2 Other Equity 4,507.2 4,442.6 Capital Work-in-progress 410.2 238.4 Interest in Inox
Slide 22: Financial Summary - Standalone Financials, Chemicals Business
FINANCIAL SUMMARY – LAST 5 YEARS STANDALONE FINANCIALS – CHEMICALS BUSINESS Figures are as per IGAAP for FY13 to FY15 and as per IND-AS for FY16 and FY17 REVENUES * EBITDA & EBITDA MARGIN PAT & PAT MARGIN 17.4% 17.0% 21.4% 19.5% 19.6% 6.8% 1,532 5.2% 6.5% 6.0% 6.6% 1,321 1,435 1,154 1,141 282 281 30
Slide 23: Financial Summary - Consolidated Financials
FINANCIAL SUMMARY – LAST 5 YEARS CONSOLIDATED FINANCIALS Figures are as per IGAAP for FY13 to FY15 and as per IND-AS for FY16 and FY17 In Rs. Cr REVENUES EBITDA & EBITDA MARGIN PAT & PAT MARGIN 32.1% 17.2% 7,111 17.3% 19.4% 18.3% 18.8% 6,393 8.6% 5,341 5.4% 5.9% 3.4% 1,301 1,205 3,166 3,452 1,017 1,
Slide 24: Group Overview: Strong Pedigree
GROUP OVERVIEW STRONG PEDIGREE USD $3 Billion Inox Group 90 Year track record of 10,000+ employees at 150+ Distribution network spread diversified across 7 different consistent business growth business units across India over 50+ countries businesses Listed Companies Other Key Companies Gujarat Fluo
Slide 25: Thank You
FOR FURTHER QUERIES: THANK YOU Deepak Asher Nilesh Dalvi Director and Group Head (Corporate Finance) Dickenson Seagull IR Email : deepakasher@gfl.co.in Contact No : +91 9819289131 Email : nilesh.dalvi@dickensonir.com 25
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