Slide 1: Regulation 30 disclosure cover letter
[Q � 'REFRACTORIES LIMITED Head & Corporate Office 3, Netaji Subhas Road, Kolkata - 700 001, India Phone: +91 33 40106100, Fax: +91 33 22430886 E-mail : ifgl.ho@ifgl.in, Websites : www.ifglref.com 15th February, 2022 National Stock Exchange of India Ltd BSE Limited 'Exchange Plaza', C-1, Block - G P
Slide 2: Investor Presentation – Q3FY22
COMMITTED TO CLEAN METAL IFGL Refractories Limited Investor Presentation – Q3FY22 February 2022
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), has been prepared by IFGL Refractories Limited, solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or b
Slide 4: Our Performance
Our Performance
Slide 5: Q3FY22 Performance Snapshot
Q3FY22 Performance Snapshot Standalone & Consolidated Performance Standalone Consolidated Rs. 196.5 Crores Rs. 317.2 Crores Total Income Total Income Standalone Consolidated Rs. 35.1 Crores Rs. 39.4 Crores EBITDA EBITDA Standalone Consolidated Rs. 17.5 Crores Rs. 18.9 Crores PAT PAT 4
Slide 6: 9MFY22 Performance Snapshot
9MFY22 Performance Snapshot Standalone & Consolidated Performance Standalone Consolidated Rs. 561.2 Crores Rs. 908.8 Crores Total Income Total Income Standalone Consolidated Rs. 97.2 Crores Rs. 115.8 Crores EBITDA EBITDA Standalone Consolidated Rs. 47.6 Crores Rs. 56.8 Crores PAT PAT 5
Slide 7: Q3FY22 Standalone Financial Highlights
Q3FY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +8% -19% 196.5 43.2 23.8% 181.6 35.1 17.9% Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -29% 13.6% 24.7 17.5 8.9% Q3FY21 Q3FY22 Q3FY21 Q3FY22 6
Slide 8: 9MFY22 Standalone Financial Highlights
9MFY22 Standalone Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +17% -8% 561.2 105.9 22.1% 479.1 97.2 17.3% 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Profit After Tax [Rs. Crs.] PAT margin [%] -15% 11.6% 55.8 47.6 8.5% 9MFY21 9MFY22 9MFY21 9MFY22 7
Slide 9: Q3 & 9MFY22 Standalone Profit & Loss
Q3 & 9MFY22 Standalone Profit & Loss Profit & Loss [Rs. Crs.] Q3FY22 Q3FY21 Y-o-Y% Q2FY22 Q-o-Q% 9MFY22 9MFY21 Y-o-Y% Total Income 196.5 181.6 8% 201.5 -2% 561.2 479.1 17% Raw Material 93.8 81.0 97.4 270.7 220.3 Employee Expenses 13.8 14.6 15.7 43.2 39.4 Other Expenses 53.8 42.9 54.2 150.2 113.6 EBI
Slide 10: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs.) Sep-21 Mar-21 Equity & Liabilities (in Rs. Crs ) Sep-21 Mar-21 Non current Assets 333.8 318.7 Equity 553.2 559.1 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 94.8 77.6 Other Equity 517.2 523.1 Right to Use Asset 15.4 15.6 Capital WIP 1
Slide 11: Q3FY22 Consolidated Financial Highlights
Q3FY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +6% -34% 317.2 59.6 19.9% 299.7 39.4 12.4% Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Profit After Tax [Rs. Crs.] PAT margin [%] -49% 12.4% 37.3 18.9 6.0% Q3FY21 Q3FY22 Q3FY21 Q3FY22 10
Slide 12: 9MFY22 Consolidated Financial Highlights
9MFY22 Consolidated Financial Highlights Total Income [Rs. Crs.] EBITDA [Rs. Crs.] EBITDA margin [%] +20% -9% 908.8 127.4 16.9% 754.5 115.8 12.7% 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Profit After Tax [Rs. Crs.] PAT margin [%] -17% 9.0% 68.1 56.8 6.2% 9MFY21 9MFY22 9MFY21 9MFY22 11
Slide 13: Q3 & 9MFY22 Consolidated Profit & Loss
Q3 & 9MFY22 Consolidated Profit & Loss Profit & Loss [Rs. Crs.] Q3FY22 Q3FY21 Y-o-Y% Q2FY22 Q-o-Q% 9MFY22 9MFY21 Y-o-Y% Total Income 317.2 299.7 6% 313.7 1% 908.8 754.5 20% Raw Material 151.1 135.8 150.4 433.2 341.3 Employee Expenses 44.0 40.1 44.6 130.8 112.8 Other Expenses 82.7 64.2 78.1 229.0 173
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs.) Sep-21 Mar-21 Equity & Liabilities (in Rs. Crs ) Sep-21 Mar-21 Non current Assets 474.6 456.4 Equity 892.6 890.5 Fixed Assets Share Capital 36.0 36.0 Property Plant & Equipment 165.6 147.6 Other Equity 856.5 854.5 Right to Use Asset 19.4 20.3 Capital W
Slide 15: Ongoing Capex to boost performance
Ongoing Capex to boost performance ➢ ~Rs. 10 Cr in FY23 1 IFGL Odisha Plant 2 IFGL Kandla Plant ➢ Rs. 10 Cr in FY23 Visakhapatnam 3 Project ➢ Phase 2 (approx cost of Rs. 20 Cr) by FY23 Capex funded out of internal accruals 14
Slide 16: Consistently performing over the years…
Consistently performing over the years… Particulars [Rs. Crs.] FY17 FY18 FY19 FY20 FY21 Total Income 769.5 839.7 955.4 928.3 1,042.5 Materials consumed 362.0 421.4 477.0 459.1 474.0 Employee Expenses 120.9 126.7 146.2 150.5 151.8 Other Expenses 183.5 181.3 218.5 216.2 240.8 EBITDA 103.1 110.3 113.8
Slide 17: …to create sustainable value for Shareholders…
…to create sustainable value for Shareholders… Total Debt (Rs. Crs.) Cash & Equivalents (Rs. Crs.) Net Debt (Rs. Crs.) FY18 FY19 FY20 FY21 9MFY22 FY18 FY19 FY20 FY21 9MFY22 FY18 FY19 FY20 FY21 9MFY22 112.5 321.9 17.7 89.4 84.9 266.6 204.5 52.0 51.6 134.2 -44.8 94.8 -152.4 -181.7 -270.3 Net Debt : Eq
Slide 18: …with consistent Payout
…with consistent Payout 100.0% 25.0% 25.0% 20.0% 20.0% 20.0% FY16 FY17 FY18 FY19 FY20 FY21 Particulars (Rs.) FY16 FY17 FY18 FY19 FY20 FY21 Consolidated Book Value Per Share 111.7 189.9 208.7 220.5 224.5 247.1 Consolidated Earning Per Share 12.1 13.9 13.1 14.0 11.1* 23.8* Dividend Per Share 2.00 2.00
Slide 19: Industry Overview
Industry Overview
Slide 20: Global Steel Demand Outlook
Global Steel Demand Outlook In MT World World (Ex China) Developing economies (Ex China) +3.4% +8.1% +8.2% 1,775 1,855 1,896 870 911 385 402 780 343 2020 2021F 2022F 2020 2021F 2022F 2020 2021F 2022F ➢ Global outlook: ▪ As per WSA, the current forecast assumes that steel demand will grow by 4.5% in
Slide 21: Forecasted Global Short-Term Steel Demand
Forecasted Global Short-Term Steel Demand In MT 2020 2021F 2022F +3.4% 1,896 1,855 1,775 +1.5% 1,330 1,345 1,305 +9.0% +9.4% 167 137 141 159 114 130 +11.6% +11.7% +8.9% +3.4% +3.1% 47 48 51 58 60 62 39 48 48 36 42 45 35 39 42 USMCA Central & EU Other Europe Africa Middle East CIS Asia & Oceania Worl
Slide 22: Top 5 Steel Consuming Countries
Top 5 Steel Consuming Countries In MT 2020 2021F 2022F -0.5% 995.0 985.1 985.1 +11.7% +10.4% 104.3 111.4 97.5 89.3 92.3 +6.1% +5.2% 80.0 52.6 58.0 59.2 53.4 54.2 49.0 China India United States Japan South Korea Source: World Steel Association - Short Range Outlook October 2021 21
Slide 23: National Infrastructure Pipeline (NIP) Project
National Infrastructure Pipeline (NIP) Project National Infrastructure Pipeline Project (NIP) Government unveiled the multimillion-dollar National Infrastructure Pipeline (NIP), with projects spread across 18 Investment allocation under NIP states over the next five years $5 Trillion Economy Others,
Slide 24: Domestic Steel Industry on a strong footing in the long term
Domestic Steel Industry on a strong footing in the long term India is now the world's second largest steel producer, surpassing Japan 1 Target of 300 MT* of production capacity by 2 2030 (National Steel Policy, 2017) Strong recovery in all sectors especially in steel consuming sectors of Real Estate
Slide 25: Growth drivers of Indian Steel industry
Growth drivers of Indian Steel industry Anti-Dumping Duty policy promotes fair trade and reduces the ill effects of dumping, on the Domestic Industry Infrastructure Huge export development and opportunity for India demand from the due to its low cost various sectors advantage Active local investment
Slide 26: About Refractories
About Refractories What are Refractories Refractories are material having high melting points, with properties that make them suitable to act as heat- resisting barriers between high and low temperature zones. Refractories are inorganic nonmetallic material which can withstand high temperature witho
Slide 27: About Us
26 About Us
Slide 28: A Global MNC…
A Global MNC… Monocon , UK Hofmann Ceramic, Mono Ceramics Inc Germany Michigan, US Tianjin Monocon Tianjin, China EI Ceramics, Cincinnati, US IFGL, Kandla SEZ 27
Slide 29: Corporate Structure…
Corporate Structure… IFGL Refractories Limited 3.604 Cr Equity Shares with a Face Value of Rs. 10 each 100% IFGL Worldwide Holdings Limited Plants at Kalunga, Odisha, India + Plant at Kandla SEZ, Gujarat, India 100% 100% 100% + Plant at Visakhapatnam, Andhra Hofmann Monocon Group Ceramic EI Ceramics
Slide 30: …with proven management…
…with proven management… Mr. S.K. Bajoria Mr. James McIntosh Mr. Kamal Sarda Chairman Managing Director Director & Chief Executive Officer • Promoter of S K Bajoria Group based at • Fellow Member of ICAI and a law graduate with Kolkata engaged in diversified business • Holder of Masters Degree in Te
Slide 31: …serving the specialized refractory segment…
…serving the specialized refractory segment… Isostatic Refractories Slide Gate Refractories & Systems Tube Changer Refractories & System Purging System & Refractories Cast Products & Zirconia Nozzles Foundry Ceramics 30
Slide 32: …to reputed names in the Global Steel Industry
…to reputed names in the Global Steel Industry Committed to Clean Metal
Slide 33: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : IFGL Refractories Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L51909OR2007PLC027954 CIN - U74140MH2010PTC204285 Mr. Rajesh Agarwal Mr. Shogun Jain / Mr. Shrenik Shah rajesh.agarwal@ifgl.in shogun.jain@sgapl.net / shr