Jain Irrigation Systems Limited · NSE:JISLDVREQS
Jain Irrigation Systems — Q4 FY2018 Earnings Presentation
23 slides from Jain Irrigation Systems's earnings presentation, May 23, 2018
Slide 1: Cover letter to stock exchanges
JISL/SEC/2018/05/B-2/B-6 23rd May, 2018 To, To, Bombay Stock Exchange Ltd., National Stock Exchange of India Ltd., Corporate Relationship Department, Exchange Plaza, C-1, Block G, 1st Floor, New Trading Wing, Rotunda Bandra Kurla Complex, Building, P. J. Tower, Dalal Street, Bandra (East), Mumbai -
Slide 2: Investor Communication 4QFY18 & FY18
INVESTOR COMMUNICATION 4QFY18 & FY18
Slide 3: Financial Discussion – 4Q & 12M FY18
FINANCIAL DISCUSSION – 4Q & 12M FY18 2
Slide 4: Management Comments
Management Comments Vice Chairman and Managing Director of the company, Mr Anil Jain said: “ We are pleased to share with you results of March 2018. These results prove our resilience and unique strengths. While the global economy continues to face challenges of volatility, we have managed to delive
Slide 5: Positive outcomes: FY18
Positive outcomes : FY18 Irrigation Business • Integrated Irrigation project business is becoming significantly important • Company has made Industry disruptive acquisition of large distributors in California, USA Agro Processing Business • Investment in Europe to strengthen distribution for Food bu
Slide 6: Positive outcomes
Positive outcomes Improved Revenue • During 4QFY18, Consolidated revenue increased by 25.6% on YoY basis. Improved profitability -4QFY18 • YoY growth in standalone EBIDTA increased by ~30 basis points • YoY growth in standalone PAT increased by 29% • Adjusted Consolidated PAT and cash profit has inc
Slide 7: Consolidated Performance Overview: 4QFY18
Consolidated Performance Overview : 4QFY18 Overall Revenue increased by 25.6% on YoY basis. Revenue of Hi-tech Agri Input Products Division registered strong growth of 33.7% on account of robust offtake in domestic markets and additional revenue from US acquisitions. Within the micro irrigation
Slide 8: Standalone Performance Overview: 4QFY18
Standalone Performance Overview : 4QFY18 Standalone Revenue of the Company for 4QFY18 is not comparable, as Revenue for 4QFY17 is inclusive of excise duty. For the purpose of better comprehension, we have taken 4QFY17 numbers net of excise duty Overall Revenue registered significant growth of 23
Slide 9: Consolidated Performance Overview: FY18
Consolidated Performance Overview : FY18 Overall revenue increased by 17.4% YoY basis on account of positive growth in all major divisions. Revenue of Hi-tech Agri Input Products Division registered a strong growth of 28.3% on account of growth in India as well as through acquisition in USA Ov
Slide 10: Standalone Performance Overview: FY18
Standalone Performance Overview : FY18 Standalone Revenue of the Company for FY18 is not comparable, as Revenue for FY17 is inclusive of excise duty. For the purpose of comparison, we have taken FY17 numbers net of excise duty Overall revenue from operations increased by 15.6% on YoY, % lead by
Slide 11: Consolidated Financial Performance
Consolidated Financial Performance Highlights INR Mn FY18 FY17 Revenue from operations is up by 17.4% on YoY Revenue^ 79,468 67,698 basis EBIDTA 11,528 10,029 EBIDTA Margin for FY18 is at 14.5% PAT 2,193 1,695 # Adjusted and reported PAT has been increased Adjusted PAT # 2,962 1,695 by 74.8% a
Slide 12: Standalone Financial Performance
Standalone Financial Performance Highlights Rs. Mn FY18 FY17 Revenue from operations is up by 15.6% on YoY Revenue^ 42,889 37,102 basis EBIDTA 7,597 6,597 EBIDTA for FY18 is at 17.7% PAT 2,811 1,638 PAT has registered strong growth of 71.6% Cash PAT* 4,713 3,449 ^Net of Excise duty *PAT + Depr
Slide 13: Overview - Consolidated Revenue: 4QFY18
Overview - Consolidated Revenue: 4QFY18 4QFY18 4QFY17 Geography YoYG Mix % Mix % India 58% 57% 27.4% Rest of World# 42% 43% 23.3% Total 100% 100% 25.6% # Including exports from India India Standalone Revenue Contribution Consolidated Revenue Contribution 4% Hi-tech Agri 3% Hi-tech Agri Input Product
Slide 14: Overview - Consolidated Revenue: FY18
Overview - Consolidated Revenue: FY18 FY18 FY17 Geography YoYG Mix % Mix % India 53% 55% 14.5% Rest of World# 47% 45% 20.9% Total 100% 100% 17.4% # Including exports from India India Standalone Revenue Contribution Consolidated Revenue Contribution 2% Hi-tech Agri 3% Hi-tech Agri Input Products Inpu
Slide 15: Overview - Standalone Revenue: 4QFY18
Overview - Standalone Revenue: 4QFY18 Segment Revenue Contribution 100% 2% 5% 4QFY18 4QFY17 90% Geography YoYG Mix % Mix % 80% 33% 70% 59% Domestic 92% 90% 26.4% 60% 50% 98% Export 40% 8% 10% 0.9% 67% 30% 20% 36% Total 100% 100% 23.8% 10% 0% Hi Tech Agri Inputs Plastic Product Others Micro Irrigatio
Slide 16: Overview - Standalone Revenue: FY18
Overview - Standalone Revenue: FY18 Segment Revenue Contribution 100% 6% 7% FY18 FY17 90% Geography YoYG Mix % Mix % 80% 48% 70% 50% Domestic 89% 91% 12.8% 60% 50% 94% Export 40% 11% 9% 43.0% 30% 52% 20% 43% Total 100% 100% 15.6% 10% 0% Hi Tech Agri Inputs Plastic Product Others Micro Irrigation Sys
Slide 17: Debt Position
Debt Position INR Bn. Mar 31, 2018** Dec 31, 2017** Change QoQ Mar 31, 2017** Standalone (Total Net Debt) 9.37 16.35 (6.97) 14.38 Long Term 6.44 5.60 0.84 10.05 Short Term 5.58 12.12 (6.53) 6.01 Cash & Cash equivalent (2.65) (1.37) (1.28) (1.68) Consolidated (Total Net Debt) 38.91 43.78 (4.88) 36.09
Slide 18: Working Capital Analysis
Working Capital Analysis Standalone Days DSO^ Mar 31, 2018 DSO^ Dec 31, 2017 Inventory AR (gross) Net** Inventory AR (gross) Net* Hi Tech 83 179 165 103 179 206 Plastic 43 90 20 54 98 64 Total* 73 146 115 88 152 158 * Including Other Division • Overall net working capital is improved by 43 days due
Slide 19: MIS Analysis - India
MIS Analysis - India MIS –Revenue Change Change INR Mn 4Q FY18 4Q FY17 FY18 FY17 YoY% YoY% Retail 4,945 4,126 19.84% 13,916 13,405 3.81% Project 2,775 2,067 34.26% 4,959 3,351 47.98% Domestic Total 7,720 6,193 24.65% 18,875 16,756 12.65% Export 1,077 980 9.98% 3,422 2,129 60.71% Total 8,797 7,173 22
Slide 20: Recent Updates (1/2)
RECENT UPDATES (…1/2) Jain Irrigation awarded Rs 3.75 bn turnkey contract by Pune Municipal Corporation o The contract involves Study, Survey, Investigation, Assessment, Design validation and Revamping of entire Water Supply System including Water Audit, Non Revenue Water reduction, SCADA, Bill re
Slide 21: Recent Updates (2/2)
RECENT UPDATES (…2/2) Jain Irrigation redeems Foreign Currency Convertible Bonds (FCCB’s) OF US$ 10 mn o The Company has redeemed the 1,000 FCCB’s of US$ 10,000 each aggregating to US$ 10 million on 2nd May, 2018 as per the terms of the Agreement dated 26th February, 2013 & 27th February, 2013 exe
Slide 22: JISL Value Proposition
JISL Value Proposition Large domestic and global growth opportunities • Increasing MIS penetration a central and state government priority. Addressing climate change • Food business growth momentum to continue • Pipes business strongly correlated with Indian infrastructure spend Best-in class, fully
Slide 23: Thank You
THANK YOU SMALL IDEAS…BIG REVOLUTIONS DISCLAIMER Some of the statements in this presentation contain forward looking information that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to sign
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