Welspun Corp Limited · NSE:WELCORP
Welspun — Q3 FY18 Earnings Presentation
12 slides from Welspun's earnings presentation, February 2018
Slide 1: World's Leading Line Pipe Manufacturer
Welspun Corp Ltd (WCL) World’s Leading Line Pipe Manufacturer Investor Presentation Q3FY18
Slide 2: Safe Harbour
SAFE HARBOUR This presentation and the accompanying slides (the “Presentation”), which have been prepared by Welspun Corp Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securit
Slide 3: Performance Highlights Q3FY18
PERFORMANCE HIGHLIGHTS Q3FY18 135 Cr 135 Cr 135 Cr Rs. 23,042 mn 92% YoY 305* KMT 88% YoY Rs. 1,644 mn 4% YoY Operating Profit Operating Profit Operating Profit Income from Operations Pipe sales volume EBIDTA 135 Rs. 664Cr mn 135 Rs. 818Cr mn 135 Rs. vs. Rs (39) mn YoY 6,421Cr mn 27% YoY vs. Rs 10,0
Slide 4: Q3FY18 Operating Performance
Q3FY18 OPERATING PERFORMANCE Pipe production EBITDA/Ton for Pipes (KMT) (Rs. ‘000) 9.8 248 4.5 202 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Pipe sales Plate/ Coils production (KMT) (KMT) 138 305 163 44 Q3FY17 Q3FY18 Q3FY17 Q3FY18 Note: All numbers on this page excludes JV operations – Saudi Arabia, unless specif
Slide 5: Healthy Balance Sheet to Support Growth
HEALTHY BALANCE SHEET TO SUPPORT GROWTH Gross debt as on 31 December 2017 was down Rs 1,606 mn Q-o-Q; Net debt was down Rs 3,624 mn Q-o-Q Rs mn Q3 FY17 Q2 FY18 Q3 FY18 Gross Debt 22,619 14,489 12,883 Cash & Equivalent 10,494 4,445 6,463 Net Debt 12,125 10,045 6,421 Current Ratio 1.46x 1.31x 1.40x
Slide 6: Net Working Capital Under Control
NET WORKING CAPITAL UNDER CONTROL IND AS Basis 51 48 36 Days Days Days 115 98 83 71 50 47 Inventory Debtors Creditors 83 113 133 Q3FY17 Q2FY18 Q3FY18 FY18 cash conversion cycle is expected in the region of 50-55 days *Includes Debtors + Inventory – Creditors
Slide 7: Sales Volume Break-up
SALES VOLUME BREAK-UP 9M FY18 Pipe Sales Volume : 830 KMT (including Saudi Arabia operations) 13% 5% 22% 43% 44% 73% LSAW HSAW ERW India US KSA Sales by Type Sales by Plant Note: All numbers on this page includes all JV operations – Saudi Arabia
Slide 8: Orderbook Analysis (including Saudi Arabia operations)
ORDERBOOK ANALYSIS (including Saudi Arabia operations) Buoyancy across major markets has led to historical high Orderbook Order book by Region Order book by Type (KMT) (KMT) 1,279 1,279 141 457 797 797 661 661 85 935 329 210 517 410 359 493 359 160 186 301 94 142 92 203 Q3FY17 Q2FY18 Q3FY18 Q3FY17 Q
Slide 9: Outlook
OUTLOOK FY18 YTD More than 1.5 million MTs of new orders booked leading to historical high orderbook Order booking has been wide-spread across all major markets – Americas, MENA and India Based on the expected sales-mix for the year we had indicated earlier that H2 profitability will be relati
Slide 10: Profit & Loss – Quarterly
PROFIT & LOSS – QUARTERLY Rs mn Q3 FY17 Q3 FY18 Income from operations 12,028 23,042 EBIDTA 1,705 1,644 Depreciation/Amortization 1,030 949 Finance Cost 567 374 Profit before tax and share of JVs 108 320 Tax (33) (565) Non-Controlling interest (91) 27 Share of Profit/ (Loss) from JVs (272) (195) Net
Slide 11: Profit & Loss – Nine months
PROFIT & LOSS – Nine months Rs mn 9M FY17 9M FY18 Income from operations 39,660 59,284 EBIDTA 4,304 6,568 Depreciation/Amortization 2,942 2,886 Finance Cost 1,723 1,442 Profit before tax and share of JVs (361) 2,240 Tax (274) 32 Non-Controlling interest (115) (22) Share of Profit/ (Loss) from JVs (4
Slide 12: Thank You
THANK YOU Welspun Corp Limited CIN: L27100GJ1995PLC025609 Mr. Deepak Khetan ir_wcl@welspun.com +91-2266136584 Mr. Harish Venkateswaran harish_venkateswaran@welspun.com www.welspuncorp.com