Gfl Ltd · NSE:GFLLIMITED
Gfl — Gujarat Fluorochemicals — Q3 FY19 Earnings Presentation
25 slides from Gfl's earnings presentation, February 2019
Slide 1: Quarterly Investor Update Q3 & 9M FY19
GUJARAT FLUOROCHEMICALS LIMITED QUARTERLY INVESTOR UPDATE Q3 & 9M FY19 1
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 KEY HIGHLIGHTS Q3 & 9M FY19 RESULTS HIGHLIGHTS CONSOLIDATED RESULTS CHEMICALS BUSINESS WIND TURBINE MANUFACTURING BUSINESS WIND FARMING BUSINESS FILM EXHIBITION BUSINESS BALANCE SHEET UPDATE SHAREHOLDING STRUCTURE ANNEXURE 3
Slide 4: Key Highlights
KEY HIGHLIGHTS Continued momentum in chemicals business led by higher volumes, continued emphasis on higher value added products and price improvements CHEMICALS BUSINESS Revenues up 28%, EBITDA up 36%, PAT up 19% in Q3 FY19 vs. Q3 FY18 (YoY) Business profitable for 3rd consecutive quarter wit
Slide 5: Q3 & 9M FY19 Results
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Slide 6: Consolidated Results
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CONSOLIDATED RESULTS In Rs. Cr Q3 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 24.2% 6.1% 10.5% 19.1% 1,490.0 156.0 360.3 969.0 185.5 59.5 54 % 94 % 162 % Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 EBIDTA EBIDTA % PAT PAT % (Excluding
Slide 7: Consolidated Revenues Breakup
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CONSOLIDATED REVENUES BREAKUP In Rs. Cr CONSOLIDATED REVENUES – BUSINESS WISE BREAKUP 1490.0 4329.3 433.1 18 % 1213.3 33 % 969.0 3.1 2929.6 21.4 88 % 90 % 390.8 1257.9 325.9 1024.5 30.0 355 % 90.9 172.1 330 % 276.4 673.7 2048.7 526.8 1487.8 38 % 28 % -4.7 -10.6 -31.
Slide 8: Consolidated EBITDA Breakup
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CONSOLIDATED EBITDA BREAKUP In Rs. Cr CONSOLIDATED EBITDA – BUSINESS WISE BREAKUP 1014.0 360.3 212.7 80 % 8.9 28 % 10.9 83.5 587.9 184.6 106 % 166.6 83 % 185.5 61.2 46.3 63.6 6.5 429 % 458 % 617.4 207.1 411.7 152.8 36 % 50 % -18.6 -0.4 -51.6 -11.6 -1.5 -2.3 Q3 FY18
Slide 9: Consolidated PAT Breakup
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CONSOLIDATED PAT BREAKUP In Rs. Cr CONSOLIDATED PAT – BUSINESS WISE BREAKUP 771.4 177 % 85.4 156.0 13.6 50 % 11.5 572 % 59.5 36.4 1.7 210 % 13.2 177.9 104 % 688.6 112.5 56.9 8.8 110 % 94.7 19 % 246.7 179 % -6.2 -46.1 -6.4 -9.7 -132.0 -0.9 -1.3 -2.6 Q3 FY18 Q3 FY19 9
Slide 10: Standalone Results
Q3 & 9M FY19 – RESULTS HIGHLIGHTS STANDALONE RESULTS In Rs. Cr Q3 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 18.0% 16.7% 673.7 29.0% 30.7% 526.8 112.5 207.1 94.7 152.8 28 % 36 % 19 % Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 EBIDTA EBIDTA % PAT PAT % (Excluding IT R
Slide 11: Chemicals Business - Standalone Results: Revenues Breakup
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS In Rs. Cr Q3 & 9M FY19 YoY ANALYSIS - REVENUES BREAKUP 2,048.7 673.7 0.0 55.9 20.6 100 % 263.8 76.9 526.8 8% 1,487.8 6% 22.4 59.6 28.7 47.4 132.4 62 % 275.0 99 % 848.5 185.3 48 % 533.5 59 % 73.7 263.3 67.6 9% 21 % 216.9 75.8 1
Slide 12: Chemicals Business - Q3 Sales Volume and Price Trend
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS Q3 FY19 YoY ANALYSIS - SALES VOLUME BREAKUP (MT) Q3 FY19 YoY ANALYSIS - PRICE TREND (RS PER MT) 63,376 39,322 37,227 46,790 32,662 32,614 16,201 16,729 3% 5% 35 % Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19
Slide 13: Chemicals Business - 9M Sales Volume and Price Trend
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS 9M FY19 YoY ANALYSIS - SALES VOLUME BREAKUP (MT) 9M FY19 YoY ANALYSIS - PRICE TREND (RS PER MT) 92,725 95,715 53,275 50,157 47,217 35,305 36,565 40,058 3% 6% 4% 33 % 9M FY18 9M FY19 9M FY18 9M FY19 9M FY18 9M FY19 9M FY18 9M F
Slide 14: Chemicals Business - VAP Sales and Other Revenue
Q3 & 9M FY19 – RESULTS HIGHLIGHTS CHEMICALS BUSINESS - STANDALONE RESULTS In Rs. Cr VAP Sales 76.9 263.8 43.1 112 % 17.7 58 % Products 28.7 47.4 30 % 10.8 R-410 27 % FKM 46.4 8.3 132.4 13.6 Fluoropolymers 8.3 433 % AHCL 27.3 515 % 53.9 2.6 5.9 20.1 Others 22.6 7.5 240 % 16.4 228 % 22.3 91.7 14.7 58.
Slide 15: Wind Turbine Manufacturing Business (Inox Wind Limited)
Q3 & 9M FY19 – RESULTS HIGHLIGHTS WIND TURBINE MANUFACTURING BUSINESS (INOX WIND LIMITED) In Rs. Cr Q3 FY19 YoY ANALYSIS REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 0.4% 390.8 15.7% -50.7% -20.5% 61.2 104 % 429 % 1.7 90.9 330 % -46.1 -18.6 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 EBI
Slide 16: Wind Farming Business (Inox Renewables Limited)
Q3 & 9M FY19 – RESULTS HIGHLIGHTS WIND FARMING BUSINESS (INOX RENEWABLES LIMITED) Q3 FY19 YoY ANALYSIS In Rs. Cr REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN -3.1% 21.6% -12.7% -199.4% 30.0 6.5 572 % 90 % 106 % -0.9 -6.2 3.1 -0.4 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 EBIDTA EBIDTA
Slide 17: Film Exhibition Business (Inox Leisure Limited)
Q3 & 9M FY19 – RESULTS HIGHLIGHTS FILM EXHIBITION BUSINESS (INOX LEISURE LIMITED) Q3 FY19 YoY ANALYSIS In Rs. Cr REVENUES* EBITDA ** & EBITDA MARGIN PAT & PAT MARGIN 4.0% 8.4% 14.2% 19.3% 433.1 36.4 325.9 83.5 46.3 33 % 80 % 13.2 177 % Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 Q3 FY18 Q3 FY19 EBIDTA EBIDTA %
Slide 18: Shareholding Structure
SHAREHOLDING STRUCTURE Share Price Performance Market Data As on 11.02.2019 (BSE) 1000.00 Market capitalization (Rs Cr) 9457.54 950.00 Price (Rs.) 860.95 900.00 850.00 No. of shares outstanding (Cr) 10.99 800.00 Face Value (Rs.) 1.0 750.00 700.00 Sep-18 Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 52 week Hig
Slide 19: Annexures
ANNEXURES 19
Slide 20: Detailed Financials: Standalone P&L Statement
DETAILED FINANCIALS STANDALONE P&L STATEMENT Particulars (In Rs Cr) Q3 FY19 Q3 FY18 YoY % Q2 FY19 QoQ % 9M FY19 9M FY18 YoY % Revenue from Operations 673.7 526.8 27.9% 680.2 -1.0% 2,048.7 1,487.8 37.7% Other Income 16.7 26.3 -36.5% 42.9 -61.1% 73.2 73.3 -0.2% Total Income 690.4 553.1 24.8% 723.1 -4.
Slide 21: Detailed Financials: Standalone Balance Sheet
DETAILED FINANCIALS STANDALONE BALANCE SHEET Particulars (Rs Cr) Dec-18 Particulars (Rs Cr) Dec-18 Share Holders’ Funds: Non-current Assets: Property, Pl a nt & Equi pment 2,084.9 Equi ty Share Capital 11.0 Ca pi ta l Work-i n-progres s 237.4 Other Equi ty 4,109.5 Inves tment Property 10.4 Total of
Slide 22: Detailed Financials: Consolidated P&L Statement
DETAILED FINANCIALS CONSOLIDATED P&L STATEMENT Particulars (In Rs Cr) Q3 FY19 Q3 FY18 YoY % Q2 FY19 QoQ % 9M FY19 9M FY18 YoY % Revenue from Operations 1,490.0 969.0 53.8% 1,479.5 0.7% 4,329.3 2,929.6 47.8% Other Income 15.3 27.4 -44.4% 39.2 -61.0% 62.9 97.3 -35.3% Revenue from Operations 1,505.3 99
Slide 23: Detailed Financials: Consolidated Balance Sheet
DETAILED FINANCIALS CONSOLIDATED BALANCE SHEET Particulars (Rs Cr) Dec-18 Particulars (Rs Cr) Dec-18 Share Holders’ Funds: Non-current Assets: Equi ty Share Capi tal 11.0 Property, Pl ant & Equi pment 3,965.8 Other Equi ty 5,388.3 Capi tal Work-i n-progres s 872.3 Non-control l i ng Interest 1,289.6
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 6 different consistent business growth business units across India over 50+ countries businesses Listed Companies Other Key Companies Gujarat Fluo
Slide 25: For Further Queries
FOR FURTHER QUERIES: Deepak Asher Director and Group Head (Corporate Finance) Email : deepakasher@gfl.co.in Bhavin Desai Company Secretary Email : bvdesai@gfl.co.in 25
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