Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — H1 FY2015 Earnings Presentation
27 slides from Dcm Shriram's earnings presentation, 2014
Slide 1: DCM Shriram Ltd. Q2 & H1 FY15 Results Presentation
DCM Shriram Ltd. Q2 & H1 FY15 - Results Presentation 1
Slide 2: Safe Harbour
Safe Harbour 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, technological risks, and many other factors that could cause our actua
Slide 3: Table of Content
Table of Content Title Slide No. Q2 FY15 Key Highlights 4 Q2 FY15 Financial Snapshot 5 Q2 FY15 Segment Performance 6 H1 FY15 Financial Snapshot 7 H1 FY15 Segment Performance 8 Q2 FY15 - Performance Overview & Outlook 9-11 Balance Sheet Abstract 12 Management’s Message 13 Agri Input Businesses 15-18
Slide 4: Q2 FY15 – Key Highlights
Q2 FY15 – Key Highlights 1. Net Revenues at Rs. 1,428.5 crore vis-à-vis Rs. 1,689.9 crore in Q2 FY14 primarily due to lower volumes of Bulk Fertilisers and Sugar 2. PBDIT stood at Rs. 93.2 crore vs. Rs. 80.5 crore, an increase of 15.7% over same period last year, all segments except Sugar witnessing
Slide 5: Q2 FY15 – Financial Snapshot
Q2 FY15 – Financial Snapshot Revenues EBITDA Depreciation 1,690 1,428 93 81 35 28 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Finance Costs PBIT PAT 66 42 46 46 30 1 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 All figures in Rs. Crore DCM Shriram Ltd. – Q2 & H1 FY15 Results Presentation 5
Slide 6: Q2 FY15 - Segment Performance
Q2 FY15 - Segment Performance Rs. crore Revenues PBIT PBIT Margins % Segments Q2 FY14 Q2 FY15 % Q2 FY14 Q2 FY15 % Q2 FY14 Q2 FY15 Agri Input 836.2 682.1 (18.4) 5.4 14.9 177.2 0.6 2.2 - Fertilisers 145.2 175.0 20.5 3.0 5.5 84.2 2.1 3.1 - Shriram Farm Soln. 659.8 438.9 (33.5) 24.4 27.3 11.9 3.7 6.2 -
Slide 7: H1 FY15 – Financial Snapshot
H1 FY15 – Financial Snapshot Revenues EBITDA Depreciation 3,251 3,133 363 284 69 57 H1 FY14 H1 FY15 H1 FY14 H1 FY15 H1 FY14 H1 FY15 Finance Costs PBIT PAT 306 224 88 215 58 115 H1 FY14 H1 FY15 H1 FY14 H1 FY15 H1 FY14 H1 FY15 All figures in Rs. Crore DCM Shriram Ltd. – Q2 & H1 FY15 Results Presentati
Slide 8: H1 FY15 - Segment Performance
H1 FY15 - Segment Performance Rs. crore Revenues PBIT PBIT Margins % Segments H1 FY14 H1 FY15 % H1 FY14 H1 FY15 % H1 FY14 H1 FY15 Agri Input 1,732.5 1,695.2 (2.2) 101.8 142.7 40.2 5.9 8.4 - Fertilisers 288.9 344.6 19.3 9.8 17.0 73.2 3.4 4.9 - Shriram Farm Soln. 1,123.4 887.5 (21.0) 47.9 48.1 0.5 4.3
Slide 9: Q2 FY15 - Performance Overview & Outlook
Q2 FY15 - Performance Overview & Outlook Operating performance stable Better profitability on account of increase in reimbursement towards conversion costs under NPS III w.e.f. April 1 2014. However, the increase does not fully compensate the cost increases since FY03 Fertilisers Outlook Earni
Slide 10: Q2 FY15 - Performance Overview & Outlook
Q2 FY15 - Performance Overview & Outlook Higher revenue is because last year in Q2 FY14 there were one time sales returns in Vietnam. This year there have been no abnormal sales returns Monsoon delays in India led to lower offtake of field crops i.e. Corn and Bajra during H1 FY15 Overall volum
Slide 11: Q2 FY15 - Performance Overview & Outlook
Q2 FY15 - Performance Overview & Outlook Topline of Chloro-Vinyl business down due to lower sales volume in Chlor-Alkali, which was on account of maintenance shutdown at the Bharuch facility in the quarter Plastics business has improved the performance with y-o-y improvement in realisations, how
Slide 12: Balance Sheet Abstract
Balance Sheet Abstract CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES (Rs. in crores) PARTICULARS As at As at 30.09.2014 31.03.2014 Unaudited Audited A. EQUITY AND LIABILITIES 1 Shareholders' funds (a) Share Capital 32.64 32.77 Increase in Networth to Rs 1,876 (b) Reserves and Surplus 1,843.80 1,6
Slide 13: Management’s Message
Management’s Message Commenting on the performance for the quarter, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “We are pleased to report a stable operating performance across all businesses, except Sug
Slide 14: Segmental Overview
Segmental Overview • Agri- Inputs o Fertilisers Agri Businesses o Shriram Farm Solutions o Bioseeds • Sugar • Chlor – Alkali • PVC Resins Chloro-Vinyl Businesses • Calcium carbide • Power • Fenesta Building Systems Other Businesses • Cement • Polymer Compounds • Hariyali Kisaan Bazaar DCM Shriram Lt
Slide 15: Agri- Input Businesses
Agri- Input Businesses The Agri input business contributed to 48% of the total quarterly revenues of the Company. The Company continues to focus on these businesses given the huge opportunity in this area where the Company can capitalize on its long standing understanding of varied Agri businesses a
Slide 16: Fertilisers (Urea)
Fertilisers (Urea) Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY15 100,433 17,382 175.0 5.5 Q2 FY14 96,535 15,006 145.2 3.0 % Shift 4.0 15.8 20.5 84.2 H1 FY15 201,443 17,079 344.6 17.0 H1 FY14 202,584 14,227 288.9 9.8 % Shift (0.6) 20.0 19
Slide 17: Shriram Farm Solutions
Shriram Farm Solutions Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY15 438.9 27.3 Q2 FY14 659.8 24.4 % Shift (33.5) 11.9 H1 FY15 887.5 48.1 H1 FY14 1,123.4 47.9 % Shift (21.0) 0.5 The portfolio comprises value-added products such as Seeds, Pesticides, Soluble fertiliser, Micro-nutrients etc. a
Slide 18: Bioseed
Bioseed Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY15 68.3 (17.8) Q2 FY14 31.2 (22.0) % Shift 118.9 -- H1 FY15 463.0 77.6 H1 FY14 320.2 44.1 % Shift 44.6 76.0 Bioseed business is intensely research based and is uniquely diversified across key crops (Cotton, Corn, Paddy, Bajra and Vegetables)
Slide 19: Sugar
Sugar Operational Financial Realisations1 Revenues PBIT Particulars Sales (Lac Qtl) (Rs./Qtl) (Rs. cr.) (Rs. cr.) Q2 FY15 7.8 3,133 260.0 0.5 Q2 FY14 11.5 3,064 378.4 (24.7) % Shift (32.2) 2.3 (31.3) -- H1 FY15 15.5 3,165 540.8 8.5 1. Free Sugar H1 FY14 20.9 3,104 716.7 (25.7) % Shift (25.8) 2.0 (24
Slide 20: Hariyali Kisaan Bazaar
Hariyali Kisaan Bazaar Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY15 111.1 (0.4) Q2 FY14 93.7 1.2 % Shift 18.5 -- H1 FY15 248.4 0.7 H1 FY14 215.5 0.9 % Shift 15.2 (25.5) Performance Revenues only from fuel sales Overview Liquidation of properties underway; expected to take about 2-3 year
Slide 21: Chloro Vinyl Business
Chloro Vinyl Business Particulars Revenues (Rs. cr.) PBIT (Rs. cr.) Q2 FY15 281.7 71.9 Q2 FY14 286.2 84.7 % Shift (1.6) (15.2) H1 FY15 640.3 184.9 H1 FY14 571.1 166.0 % Shift 12.1 11.4 The Chloro-Vinyl business of the Company has highly integrated operations with multiple revenue streams and economi
Slide 22: Chlor-Alkali
Chlor-Alkali Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY15 60,086 24,748 163.0 38.6 Q2 FY14 68,793 24,533 171.2 53.8 % Shift (12.7) (0.9) (4.8) (28.3) H1 FY15 126,181 25,167 349.9 98.5 H1 FY14 125,768 23,516 322.3 96.3 % Shift 0.3 7.0 8.
Slide 23: Plastics
Plastics Operational Financial PVC XWR Carbide Carbide XWR PVC Sales Revenues PBIT Particulars Realisations Sales Realisations (MT) (Rs. cr.) (Rs. cr.) (Rs./MT) (MT) (Rs./MT) Q2 FY15 12,484 76,331 5,123 43,961 118.7 33.3 Q2 FY14 12,219 71,525 6,080 42,490 115 30.9 % Shift 2.2 6.7 (15.7) 3.5 3.2 7.8
Slide 24: Cement
Cement Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs. cr.) (Rs. cr.) Q2 FY15 100,492 2,854 35.0 (2.0) Q2 FY14 88,335 2,642 29.4 (1.3) % Shift 13.8 8.0 18.8 -- H1 FY15 194,561 3,046 71.7 2.9 H1 FY14 170,773 2,776 59.1 1.2 % Shift 13.9 9.7 21.4 132.5 The Cement b
Slide 25: Other Businesses
Other Businesses DCM Shriram’s other operations, reported as ‘others’ in the financial results, include its businesses of Polymer Compounding (now under JV) and Fenesta Building Systems. Revenues under ‘others’ stood at Rs. 66.0 crore in the quarter under review compared to Rs. 75.3 crore in the cor
Slide 26: Fenesta Building Systems
Fenesta Building Systems Order Book Sales Qty Revenues Particulars (Rs Cr) (nos.) (Rs. cr.) Q2 FY15 52.3 28,873 44.0 Q2 FY14 54.9 37,365 42.1 % Shift (4.7) (22.7) 4.3 H1 FY15 96.8 57,683 85.1 H1 FY14 100.4 76,917 84.5 % Shift (3.5) (25.0) 0.7 Fenesta a pan India brand has become synonymous with UPVC
Slide 27: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. With a large base