Navin Fluorine International Limited · NSE:NAVINFLUOR
Navin Fluorine International — Q4 FY2023 Earnings Presentation
35 slides from Navin Fluorine International's earnings presentation, May 13, 2023
Slide 1: Intimation letter to stock exchanges
May 13, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Fort, Bandra Kurla Complex, Bandra (East), Mumbai 400001 Mumbai 400051 Scrip Code: 532504 Symbol: NAVINFLUOR EQ Dear Sir / Madam, Sub.: Investor Presentation for Q4 of FY 2022-2
Slide 2: Investor Presentation - May 2023
Investor Presentation - May 2023
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Navin Fluorine International Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: Q4 & FY23 Record Performance
Ny e PADMANABF MAFATLAL, GROUP Q4 & FY23 Record Performance
Slide 5: New Milestones Achieved
New Milestones Achieved Sales crossed Operating EBITDA crossed Operating EBITDA Margin FY23 Rs. 2000 Crs Rs. 550 Crs 26.5% Revenue Growth (Y-o-Y) Speciality HPP CDMO + 31% + 64% + 29% • Consolidated Financials
Slide 6: Consolidated Quarter of Record Performance
Quarter of Record Performance Operating Revenue +70% Rs. 697 crores Margins Profile Operating EBITDA *Operating PBT 28.9% 25.8% YoY Highlights Operating EBITDA Consolidated +589 Bps +586 Bps + 114% Q4FY23 Rs. 202 crores ✓ Highest Quarterly Revenue & Profitability ✓ All the businesses contributed to
Slide 7: Consolidated Year of Record Performance
Year of Record Performance Operating Revenue + 43% Rs. 2077 crores Margins Profile Operating EBITDA *Operating PBT 26.5% 22.2 % YoY Highlights Operating EBITDA Consolidated +207 Bps + 116 Bps + 55% Rs. 550 crores FY23 ✓ Highest Annual Revenue & Profitability ✓ Three of our plants i.e. HPP, MPP and O
Slide 8: Strong Performance across all Businesses
Strong Performance across all Businesses Specialty HPP CDMO (Rs. Crs) +28% +92% +106% 204 289 203 4QFY23 159 151 99 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 64% +29% +31% 886 448 743 FY23 347 566 540 FY22 FY23 FY22 FY23 FY22 FY23 * Consolidated Financials 7
Slide 9: Business Vertical - Specialty Chemicals
Business Vertical - Specialty Chemicals Revenues (Rs. Crs) Q4FY23 Highlights +28% 204 New product introductions contributed significantly in 159 Q4FY23 Agrochemical Intermediate plant achieved optimal capacity utilization Q4FY22 Q4FY23 New capex progressing on schedule. Plant scheduled to commission
Slide 10: Business Vertical - HPP
Business Vertical - HPP Revenues (Rs. Crs) Q4FY23 Highlights +92% Sales were higher primarily on account of increased 289 volumes from new product and better price realization 151 Higher share of exports due to sales to Honeywell compared to Q4FY22 Q4FY22 Q4FY23 Commissioning of R32 Project in Surat
Slide 11: Business Vertical - CDMO
Business Vertical - CDMO Revenues (Rs. Crs) Q4FY23 Highlights +106% Revenues doubled in Q4FY23; exceeded the stated 203 guidance 99 c-GMP-3 manufacturing block commissioned post debottlenecking Q4FY22 Q4FY23 Business on strong footing and primed for further capacity expansion Q4FY23 100% India Inter
Slide 12: Consistent Dividend Performance
Consistent Dividend Performance Dividend as % of Face Value Robust Dividend Payout Final Interim ✓ Continuous Dividend over 13 600% years Special 550% 550% 550% Dividend ✓ Special Dividend of 600% on of 150% FV of Rs. 10 in FY12 + 150% Special 350% Dividend of 390% 300% 300% ✓ Special Dividend of 75
Slide 13: Financial Performance
Ny e PADMANABF MAFATLAL, GROUP Financial Performance
Slide 14: Consolidated Profitability Statement
Consolidated Profitability Statement Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Net Revenue from Operations 697.1 408.9 70% 563.6 24% 2,077.4 1453.4 43% Raw Material 283.7 196.7 246.4 896.0 665.6 Employee Expenses 73.0 47.3 68.6 249.4 181.5 Other Expenses 138.7 70.7 9
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 Non-current assets 2063.1 1,366.2 EQUITY 2185.0 1844.2 Property, Plant and Equipment 1471.8 377.5 Equity Share Capital 9.9 9.9 Capital work-in-progress 278.6 742.1 Other Equity 2175
Slide 16: Consolidated Cashflow Statement
Consolidated Cashflow Statement Particulars (Rs Crs.) 31-Mar-23 31-Mar-22 (A) Cash flow from operating activities Profit before tax 495.9 344.2 Adjustments for noncash items 81.1 19.0 Operating profit before working capital changes 576.9 363.2 Working capital adjustments -530.7 -210.4 Cash flows gen
Slide 17: Standalone Profitability Statement
Standalone Profitability Statement Particulars (Rs. Crs.) Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y Net Revenue from Operations 451.4 398.4 13% 423.5 7% 1,628.1 1,403.6 16% Raw Material 186.6 189.9 191.2 715.3 638.3 Employee Expenses 56.2 39.4 55.9 203.0 153.3 Other Expenses 84.5 73.3 68.5
Slide 18: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 Non-current assets 1380.7 1,023.5 EQUITY 2141.0 1864.2 Property, Plant and Equipment 414.7 372.9 Equity Share Capital 9.9 9.9 Capital work-in-progress 153.6 25.9 Other Equity 2131.1 1
Slide 19: Standalone Cashflow Statement
Standalone Cashflow Statement Particulars (Rs Crs.) 31-Mar-23 31-Mar-22 (A) Cash flow from operating activities Profit before tax 418.2 347.0 Adjustments for noncash items 30.7 17.0 Operating profit before working capital changes 448.9 364.0 Working capital adjustments -189.1 -46.7 Cash flows genera
Slide 20: Navin Fluorine
MAFATLAL, GROUP Ny 2 PADMANABF Navin Fluorine
Slide 21: Navin Fluorine at glance
Navin Fluorine at glance Manufacturing plants strategically located closer to major ports Strong global partners including pharma and Agro Innovators One of Largest Integrated Specialty Fluorochemical company in India Over 50 years of expertise in Handling Fluorine Built “India’s only plant with hig
Slide 22: Integrated Business Model
Integrated Business Model • Chemical Complex at Surat spread over 135 • Backward integration for Raw material acres, houses Refrigerant, Inorganic & through 25% JV partner in the only Specialty Chemicals Plants Fluorspar beneficiation company in India • cGMP Compliant facility for CDMO in • Diversif
Slide 23: Our Delivery
Our Delivery Revenues (Rs. Crs) Revenue Contribution (%) FY2011 FY2023 2,077 Commenced Specialty Speciality Chemicals 27% 36% 14% Chemicals in 2000 12Y CAGR 431 FY11 FY23 Inorganic Fluorides & Refrigerants (HPP) HPP 73% 43% Net Profit (Rs. Crs) are traditional business since 1967 375 15% Commenced C
Slide 24: Reinforcement of Trust
Reinforcement of Trust Delivering on the 3P Strategy (Product, Platform and Partnerships) through New Capex Programs $410 Mn Multi Year Contract in High Beginning of New Partnership in agrochemicals Performance Product (HPP) backed by multi year supply contract Launch of new products in Manufacturin
Slide 25: HPP Manufacturing Plant inaugurated
HPP Manufacturing Plant inaugurated Gujarat CM and Honeywell inaugurated HPP manufacturing plant of NFASL. Navin Fluorine had entered into $410 million contract with Honeywell International Inc. for manufacture and supply of a High-Performance Product (HPP) in the fluorochemical space Capex funded R
Slide 26: Journey of Transformation continues
Core Business Strategy Valuable and Presence into High- Customer’s clear Dependable demand specialized choice - Strong pillar Fluorochemical product basket of Partnership Company Increase share of CDMO & Innovation & Change growth Investment In MPP (Multi Specialty which now - Moving into the new Hi
Slide 27: ESG represents the cornerstone of our business
ESG represents the cornerstone of our business
Slide 28: Our Approach to Sustainability
Our Approach to Sustainability Approach Environment Social Governance ✓ Robust Internal Controls ✓ Employees ✓ Controlled Growth ✓ Building resilience towards ✓ Customer and Vendors ✓ Balanced Approach climate change ✓ Community ✓ Board of Directors ✓ Reduce our impact on environment and nature ✓ Tr
Slide 29: Environmental Commitment
Environmental Commitment Systems driven Minimising carbon footprint Audit discipline Environment Approach Continues to invest in environmental Committed to progressively reduce Addressed the HSE subject through a management systems, coupled with energy and greenhouse emissions while documental and p
Slide 30: Social Programme
Social Programme Social Programme Social Approach ✓ Secured the integrity of processes and ✓ Ensured employee and contractor workers’ practices through a Job Hazard Analysis health and hygiene; with periodical health ‘S’ comprises the role of coupled with Standard Operating Procedures. surveillance
Slide 31: Governance Best Practice
Governance Best Practice Governance Programme Composition of Committees Out of four Members of Nomination Structured policies and processes and Remuneration Committee, addressed investor grievances three are Independent and one Non- Reported NO Executive ✓ Defaults for repayments, creditors, Accepte
Slide 32: Board of Directors
Diversity of thought and experience Mr. Vishad P. Mafatlal Mr. Mohan M. Nambiar Mr. Pradip N. Kapadia Mr. Sunil S. Lalbhai Chairman Non-Executive Non-Independent Director Independent Director Independent Director He is an industrialist having varied He has a vast experience of over 60 years. He He i
Slide 33: Balanced Board with Experience and Expertise
Balanced Board with Experience and Expertise Board Demographics meetings Board Independence during Highly FY2023 engaged 9 of 12 Board 17 Directors actively involved in NFIL’s 75% are Board Committee strategic transformation Independent 8 68 years median Board director's age Highly Experienced Board
Slide 34: Deepen respect for contribution to Societal Goals
Deepen respect for contribution to Societal Goals CHILD CARE 6.15 Crores The Company contributed to the Society for Rehabilitation of Crippled Children for Total CSR expenditure for the year ended March 31, 2023 supporting economically challenged families of 13 children with life threating Touched a
Slide 35: Thank You Note
Thank You Note For further information, please contact: Company : Investor Relations Advisors : Navin Fluorine International Ltd. Orient Capital (a division of Link Group) CIN : L24110MH1998PLC115499 Ms. Payal Dave +91 9819916314 Mr. Anish Ganatra payal.dave@linkintime.co.in Chief Financial Officer
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