Dhampur Sugar Mills Limited · NSE:DHAMPURSUG
Dhampur Sugar Mills — Q1 FY23 Earnings Presentation
54 slides from Dhampur Sugar Mills's earnings presentation, Jul 27, 2022
Slide 1: Filing cover letter to stock exchanges
27.07.2022 To, The Manager - Listing The General Manager – DSC National Stock Exchange of India Ltd. BSE Limited Exchange Plaza,Bandra Kurla Complex Phiroze Jeejeebhoy Towers, Bandra (East) Dalal Street, Fort, Mumbai - 400 051 Mumbai: 400001 Tel No. 022-2659 8237 /38 Tel No.022-22722039/37/3121 Symb
Slide 2: Dhampur Sugar Mills Ltd Financial Results: Q1-FY23
Dhampur Sugar Mills Ltd Financial Results: Q1-FY 23 1
Slide 3: Safe Harbour Statement
Safe Harbour Statement This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by Dhampur Sugar Mills Limited (also referred to as the ‘Company’). By attending the meeting where this presentation
Slide 4: Content
Content Slide No. Business Facilities 4 Key Milestones 5 Board of Directors 6 Overview-Market Outlook 7-10 Financial Performance 11-50 Core Strengths 51 Way Forward 52 3
Slide 5: Business Facilities
Business Facilities Dhampur Rajpura Sugar- 15000 TCD Sugar-8500 TCD Co-Gen-73 MW Co-Gen- 48 MW Distillery- 250 KL* (C Heavy) Ethyl Acetate- 140 MT per day • Proposed 130 KL per day expansion (Including 100 KL per day grain based) on C heavy molasses. • Post expansion capacity : 380 KL per day on C -
Slide 6: Key Milestones
Key Milestones Demerger Expanded Rajpura sugar crushing Installed multi-fuel high pressure boilers at Dhampur capacity to 8500 TCD Greenfield sugar unit at Rajpura (7500TCD) Installed CPU for Zero Co-generation plant at Rajpura Installed co-generation plants - Dhampur (65MW) Liquid Dis
Slide 7: Board of Directors
Board of Directors Mr. Ashok Kumar Goel, Chairman Mr. Gaurav Goel, Managing Director Mr. Mahesh Prasad Mehrotra Mr. Yashwardhan Poddar Mr. Anuj Khanna Mr. Satpal Kumar Arora Ms. Pallavi Khandelwal Mr. Anant Pande, CEO & Whole Time Director 6
Slide 8: Industry Overview – Market Outlook
Industry Overview –Market Outlook
Slide 9: Industry Overview-Sugar
Industry Overview-Sugar Million Ton Sugar Season 2019-20 2020-21 2021-22 (E) Opening Balance (as on 1st Oct) 14.60 10.75 8.23 Sugar Production 27.40 31.20 36.00 Sugar Consumption 25.30 26.62 27.50 Sugar Exports 5.95 7.10 10.00 Closing Balance (as on 30th Sep) 10.75 8.23 6.73 • During SS 2021-22, 522
Slide 10: Industry Overview-Sugar
Industry Overview-Sugar • Fair and Remunerative Price (FRP) for sugar season 2021-22 was increased by ₹5/Qtl to ₹290 per quintal linked to a basic recovery rate of 10%; providing a premium of ₹2.90 per quintal for every 0.1% increase in recovery above that level. • State Advised Price (SAP) for suga
Slide 11: Industry Overview-Ethanol
Industry Overview-Ethanol New Bio Fuel Policy allows the manufacturing of ethanol from B-heavy molasses as well as from direct sugar cane juice/syrup. Basic price of ethanol – from C heavy molasses : ₹46.66/litre, from B heavy molasses : ₹59.08/litre and from sugar cane juice : ₹63.45/litre Q1 &
Slide 12: Financial Performance Q1-FY23
Financial Performance Q1-FY 23 11
Slide 13: Standalone Performance Highlights-YOY Q1-FY23 Vs Q1-FY22
Standalone Performance Highlights-YOY Q1-FY 23 Vs Q1-FY22 Total income from operations up : 51.3% EBITDA up : 18.1% PBT up : 27.2% PAT up : 14.8% Cash profit up : 19.1% 12
Slide 14: Standalone Financials Performance-YOY
Standalone Financials Performance-YOY Rs. Cr. Q1 Q1 % Particulars FY 23 FY 22 Change FY 22 Income from Operations 824.6 545.1 51.3% 2208.7 EBITDA 83.3 70.5 18.1% 304.9 PBT 53.8 42.3 27.2% 204.5 PAT 35.7 31.1 14.8% 146.9 Cash Profit 56.7 47.6 19.1% 222.3 EPS (₹/Share) 5.38 4.69 14.7% 22.13 • Improved
Slide 15: Standalone Revenue-Overview
Standalone Revenue -Overview Figures in Rs. Crore Increase Decrease Total 14
Slide 16: Standalone Profit-Overview
Standalone Profit -Overview Figures in Rs. Crore Increase Decrease Total 15
Slide 17: Standalone Financial Performance
Standalone Financial Performance 51.3% 18.1% 5.8% 14.7% 16
Slide 18: Consolidated Financial Performance-YOY
Consolidated Financial Performance-YOY Rs. Cr. Q1 Q1 % Particulars FY 23 FY 22 Change FY 22 Income from Operations 833.9 545.1 53.0% 2173.6 EBITDA 86.9 70.5 23.3% 302.0 PBT 57.4 42.3 35.7% 201.6 PAT 39.3 31.1 26.4% 144.0 Cash Profit 60.3 47.6 26.6% 219.4 EPS (₹/Share) 5.92 4.69 26.2% 21.70 • Improve
Slide 19: Standalone Segment Revenue-Overview
Standalone Segment Revenue -Overview Rs. Cr. % Particulars Q1 FY23 Q1 FY22 Change FY 22 Sugar 548.2 346.5 58.2% 1451.8 Power 43.8 45.7 -4.2% 213.0 Ethanol 143.8 98.8 45.5% 427.0 Chemicals 91.3 61.4 48.7% 277.7 Potable Spirits 137.5 74.4 84.8% 290.7 Others 6.9 5.2 32.7% 22.9 Total 971.6 632.0 53.7% 2
Slide 20: Standalone Segment Profit (PBIT)-Overview
Standalone Segment Profit (PBIT)-Overview Rs. Cr. Particulars % Q1 FY23 Q1 FY22 FY22 Change Sugar 25.5 6.0 325.0% 57.4 Power 16.6 16.1 3.1% 82.4 Ethanol 26.0 35.5 -26.8% 131.9 Chemicals 10.6 10.8 -1.9% 19.6 Potable -0.004 -0.9 99.5% -0.8 Spirits Others 0.5 0.5 -1.9% 1.2 Total 79.2 68.1 16.3% 291.7 1
Slide 21: Segment Revenue-Overview
Segment Revenue -Overview Q1 FY 22 Q1 FY 23 20
Slide 22: Segment Profit (PBIT)-Overview
Segment Profit (PBIT) -Overview Q1 FY 22 Q1 FY 23 21
Slide 23: Consolidated Segment Revenue-Overview
Consolidated Segment Revenue -Overview Rs. Cr. % Particulars Q1 FY23 Q1 FY22 FY 22 Change Sugar 548.2 346.5 58.2% 1451.8 Power 43.8 45.7 -4.2% 213.0 Ethanol 143.8 98.8 45.5% 427.0 Chemicals 91.3 61.4 48.7% 277.7 Potable Spirits 137.5 74.4 84.8% 290.7 Others 111.2 5.2 2038.5% 101.6 Total 1075.9 632.0
Slide 24: Consolidated Segment Profit (PBIT)-Overview
Consolidated Segment Profit (PBIT)-Overview Rs. Cr. Particulars % Q1 FY23 Q1 FY22 FY22 Change Sugar 28.7 6.0 378.3% 54.2 Power 16.6 16.1 3.1% 82.4 Ethanol 26.0 35.5 -26.8% 131.9 Chemicals 10.6 10.8 -1.9% 19.6 Potable -0.004 -0.9 99.6% -0.8 Spirits Others 1.0 0.5 100.0% 1.2 Total 82.8 68.1 21.6% 288.
Slide 25: Segment Wise Performance
Beer Segment Wise Performance 24
Slide 26: Sugar Segment
Sugar Segment 25
Slide 27: Sugar Standalone Financials
Sugar Standalone Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 548.2 346.5 1451.8 : % to total revenue 56.4 % 54.8 % 54.1% Profit : Rs. Cr. 25.5 6.0 57.4 : % to total profit 32.2% 8.8% 19.7% 26
Slide 28: Sugar Consolidated Financials
Sugar Consolidated Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 548.2 346.5 1451.8 : % to total revenue 51.0% 54.8% 52.6% Profit : Rs. Cr. 28.7 6.0 54.2 : % to total profit 34.6% 8.8% 18.8% 27
Slide 29: Sugar Operating Performance
Sugar Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Cane Crushed Lakh tons 7.18 7.89 35.83 Cane diverted to Syrup Lakh tons 1.76 - 1.04 Gross Recovery % 12.65 12.32 12.16 Sugar Sacrifice- B heavy % 1.09 1.18 1.37 Sugar Sacrifice- Syrup % 3.63 - 0.42 Net Recovery % 7.93 11.14 10.37 28
Slide 30: Sugar Operating Performance
Sugar Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Production Lakh tons 0.57 0.88 3.71 Sales- White Sugar Lakh tons 0.91 0.48 2.59 - Raw Sugar Lakh tons 0.31 0.37 0.62 Total Sales Lakh tons 1.22 0.85 3.21 Inventory- White Sugar Lakh tons 1.35 1.42 2.05 - Raw Sugar Lakh tons 0.04 0.01 -
Slide 31: Sugar Operating Performance
Sugar Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Realisation-White Sugar ₹/ton 34521 32479 34226 -Raw Sugar ₹/ton 33473 27586 30368 Valuation Rate ₹/ton 30852 28494 30840 30
Slide 32: Standalone-Sugar Segment: Q1 FY23 Vs Q1 FY22
Standalone- Sugar Segment : Q1 FY23 Vs Q1 FY22 58.2% 325.0% 1.6% 23.4% 31
Slide 33: Consolidated-Sugar Segment: Q1 FY23 Vs Q1 FY22
Consolidated- Sugar Segment : Q1 FY23 Vs Q1 FY22 58.2% 378.3% -3.8% 25.8% 32
Slide 34: Power Segment
Power Segment 33
Slide 35: Power Financials
Power Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 43.8 45.7 213.0 : % to total revenue 4.5 % 7.2 % 7.9% Profit : Rs. Cr. 16.6 16.1 82.4 : % to total profit 20.9% 23.6% 28.2% 34
Slide 36: Power Operating Performance
Power Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Generation Cr. Units 8.29 9.21 40.01 Export Cr. Units 3.84 4.49 19.53 Realization ₹/unit 3.59 3.75 3.46 35
Slide 37: Power – Q1 FY23 Vs Q1 FY22
Power –Q1 FY23 Vs Q1 FY22 3.1% -4.2% -3.4% -2.7% 36
Slide 38: Ethanol Segment
Ethanol Segment 37
Slide 39: Ethanol Financials
Ethanol Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 143.8 98.8 427.0 : % to total revenue 14.8 % 15.6 % 15.9% Profit : Rs. Cr. 26.0 35.5 131.9 : % to total profit 32.8% 52.2% 45.2% 38
Slide 40: Ethanol Operating Performance
Ethanol Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Production- B heavy Lakh BL 62.18 141.68 650.43 -Syrup Lakh BL 148.71 - 83.37 Total Production Lakh BL 210.89 141.68 733.80 Sales -B heavy Lakh BL 66.47 161.61 660.52 - -Syrup Lakh BL 171.00 61.35 Total Sales Lakh BL 237.5 161.61 721
Slide 41: Ethanol Operating Performance
Ethanol Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Inventory- B heavy Lakh BL 9.0 22.07 13.42 -Syrup Lakh BL 3.22 - 25.57 Total Inventory Lakh BL 12.22 22.07 39.0 Realisation-B heavy Rs/BL 58.83 57.39 57.69 -Syrup Rs/BL 63.22 - 63.23 40
Slide 42: Ethanol – Q1 FY23 Vs Q1 FY22
Ethanol –Q1 FY23 Vs Q1 FY22 45.5% -26.8% -0.8% -19.4% 41
Slide 43: Ethanol capacity and proposed expansion
Ethanol • Present capacity : 250 KLPD on ‘C’ heavy molasses. • Proposed expansion : 130 KLPD (including 100 KLPD on grain) on ‘C’ heavy molasses. • Post expansion capacity : 500 KLPD (approx.) on ‘B’ heavy molasses/syrup (including 100 KLPD on grain). • Cost of project : Rs. 160 crore • Debt financi
Slide 44: Chemicals Segment-Ethyl Acetate
Chemicals Segment-Ethyl Acetate 43
Slide 45: Chemicals-Ethyl Acetate Financials
Chemicals-Ethyl Acetate Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 91.3 61.4 277.7 : % to total revenue 9.4 % 9.7 % 10.3% Profit : Rs. Cr. 10.6 10.8 19.6 : % to total profit 13.4% 15.9% 6.7% 44
Slide 46: Chemicals-Ethyl Acetate Operating Performance
Chemicals-Ethyl Acetate Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 Production Lakh Kg 89.02 55.18 272.74 Sales Lakh Kg 96.07 53.39 270.74 Inventory Lakh Kg 0.81 8.37 7.85 Realisation Rs/Kg 95.08 114.99 102.49 45
Slide 47: Chemicals – Q1 FY23 Vs Q1 FY22
Chemicals–Q1 FY23 Vs Q1 FY22 -1.9% 48.7% -0.3% -2.5% 46
Slide 48: Potable Spirits Segment
Potable Spirits Segment 47
Slide 49: Potable Spirits Financials
Potable Spirits Financials Particulars Q1 FY23 Q1 FY22 FY22 Revenue : Rs. Cr. 137.5 74.4 290.7 : % to total revenue 14.2 % 11.8 % 10.8% Profit : Rs. Cr. -0.004 -0.9 -0.8 : % to total profit -0.005% -1.3% -0.3% 48
Slide 50: Potable Spirits Operating Performance
Potable Spirits Operating Performance Particulars UOM Q1 FY23 Q1 FY22 FY22 No. of Production 591701 315736 1163418 Cases No. of Sales 577091 302601 1163015 Cases No. of Inventory 18903 17026 4293 Cases Realisation Rs/Case 258.44 258.07 259.51 49
Slide 51: Potable Spirits – Q1 FY23 Vs Q1 FY22
Potable Spirits –Q1 FY23 Vs Q1 FY22 100 % 84.8% 1.3% 2.4% 50
Slide 52: Core Strengths
Core Strengths • Visionary promoters • Experienced management team • Integrated business processes • Strong relationship with 1.50 lakh farmers approx. • Growth Focus- Ethanol/Chemicals • Prudent financial management • Improving operational efficiencies • Future ready organization 51
Slide 53: Way forward
Wayforward Way forward • Commissioning of proposed distillery expansion • Reduction in manufacturing cost • Optimization of financing cost • Skill building and empowerment • Engagement with community 52
Slide 54: For further information, please contact
For further information, please contact : Dhampur Sugar Mills Ltd. 6th Floor, Max House, Okhla Industrial Estate, Phase III New Delhi – 110020, Telephone : +91-11-41259400 Email: investordesk@dhampursugar.com, Website: www.dhampursugar.com 53