Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q1 FY20 Earnings Presentation
24 slides from Dcm Shriram's earnings presentation, Jul 23, 2019
Slide 1: DCM Shriram Ltd. Q1 FY20 - Results Presentation
DCM Shriram Ltd. Q1 FY20 - Results Presentation July 23, 2019 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Content
Table of Content Title Slide No. Key Highlights 4 Financial Snapshot 5 Returns & Leverage 6 Segment Performance 7 Management’s Message 8 Segmental Details Chloro-Vinyl Businesses 10-14 Sugar 15-17 Agri Input Businesses 18-20 Other Businesses 21-23 About Us & Investor Contacts 24 DCM Shriram Ltd. – Q
Slide 4: Q1 FY20 - Key Highlights
Q1 FY20 - Key Highlights 1. Net Revenues at Rs 1,902 crores down 8% YoY: i. Chemicals revenues up 18% YoY at Rs 552 crores led by volumes gain of 22% YoY driven by new capacities additions. ii. Fenesta revenues up by 17% YoY driven by both retail and projects. iii. Overall Sugar revenues down 22% Yo
Slide 5: Q1 FY20 - Financial Snapshot
Q1 FY20 - Financial Snapshot Revenue (Net) PBDIT Depreciation 2,068 374 347 50 1,902 36 Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Finance Cost PBIT PAT 35 37 311 324 218 221 Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Note: All figures in Rs. crores Net revenue includes operating income DC
Slide 6: Q1 FY20 - Returns & Leverage
Q1 FY20 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 20.0% 19.7% 1.00 0.87 0.80 19.0% 18.7% 0.80 0.58 18.0% 0.60 17.0% 16.8% 0.40 16.0% 0.20 15.0% - FY19 Q1 FY19 Q1 FY20 FY19 Q1 FY19 Q1 FY20 ROCE Capital Employed (excluding CWIP) 35.0% 6,000 29.9% 5,010 5,238 30.0% 28.6% 5,000 24.6% 4,28
Slide 7: Q1 FY20 - Segment Performance
Q1 FY20 - Segment Performance Rs cr Revenues PBIT PBIT Margins % YoY % YoY % Segments Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Q1 FY19 Q1 FY20 Change Change Chemicals 469.0 551.7 17.6 248.1 250.5 1.0 52.9 45.4 Plastics 143.9 139.8 (2.8) 26.8 16.3 (39.2) 18.6 11.6 Sugar 618.1 481.9 (22.0) (2.8) 72.6 - (0.4) 1
Slide 8: Management's Message
Management’s Message Commenting on the performance for the quarter ending June 2019, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: ““We are happy to report satisfactory performance of the company in Q1 FY
Slide 9: Segmental Details
Segmental Details • Chemicals (1,845 TPD) Chloro-Vinyl • PVC Resins (70,000 TPA) Businesses • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (147 MW) Agri o Distillery (150 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers (379,500 TPA) • Fenesta Build
Slide 10: Chloro Vinyl Business
Chloro Vinyl Business Revenues PBIT Cap. Employed Particulars (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q1 FY20 691.5 266.8 1,247.0 Q1 FY19 612.9 274.9 1,035.4 % Shift 12.8 (3.0) 20.4 The Chloro-Vinyl business of the Company has highly integrated operations with multiple revenue streams and 209 MW captive power
Slide 11: Chemicals
Chemicals Operational Financial Sales Realisations Revenues PBIT Particulars (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q1 FY20 136,882 35,025 551.7 250.5 Q1 FY19 112,439 35,743 469.0 248.1 % Shift 21.7 (2.0) 17.6 1.0 Import Caustic and DCM ECU Prices 45,000 758 800 750 681 40,000 700 38,713 38,294 38,675 37,
Slide 12: Chemicals
Chemicals Net Revenues up by 18% YoY at Rs 552 crores. o Volumes up 22% YoY driven by new capacity commissioned at Kota plant (168 TPD) during Oct’18 and at 332 TPD at Bharuch in April’19. Q1 FY20 saw increase of effective capacity by 31% YoY. o ECU prices lower by 2% due to softer Caustic (Liquid
Slide 13: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realisations Realisations (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q1 FY20 15,300 70,398 5,152 55,896 139.8 16.3 Q1 FY19 15,179 75,724 4,996 50,898 143.9 26.8 % Shift 0.8 (7.0) 3.1 9.8 (2.8) (3
Slide 14: Plastics
Plastics Import PVC and DCM PVC Prices 80,000 1,050 78,000 76,534 1,000 77,943 76,844 1,000 76,000 75,967 75,348 75,486 74,000 985 950 961 900 71,990 72,000 948 INR USD 924 914 69,028 900 70,000 903 68,000 869 850 66,000 DCM Realizations PVC (Rs / MT) PVC Import Prices ($ / MT) 64,000 800 Apr-18 May
Slide 15: Sugar
Sugar Operational Financial Sales (Volume) Sugar Sugar Realizations Revenues PBIT Cap. Employed Particulars Production Sugar Power Distillery (Domestic) (Rs Cr.) (Rs Cr.) (Rs Cr.) (Lac Qtls) (Domestic) (Lac Units) (Lac Ltrs) (Rs/ Qtl) (Lac Qtls) Q1 FY20 13.8 11.5 701.0 129.1 3,249 481.9 72.6 2,027.7
Slide 16: Sugar
Sugar DCM Sugar Realizations (Rs/ Qtl) 3,900 3,700 3,500 3,265 3,300 3,296 INR 3,319 3,107 3,114 3,100 3,307 3,252 3,136 3,149 3,116 3,131 2,900 3,027 3,030 2,859 2,639 2,700 2,500 April May June July August September October November December January February March FY19 FY20 Season performance: P
Slide 17: Sugar Segment
Sugar Segment Sugar revenues down 22% YoY at Rs 482 crores due to lower volumes of sugar domestic sale and power sales. Sugar domestic volumes down 36% YoY. GOI imposed sales release mechanism in June’18 which is continuing, thereby, resulting in lower sugar volumes in present quarter vs same qu
Slide 18: Shriram Farm Solutions
Shriram Farm Solutions Revenues (Rs. Cr.) PBIT (Rs. Cr.) Cap. Employed Particulars (Rs. Cr.) Bulk Value Added Total Bulk Value Added Total Q1 FY20 31.3 165.7 197.0 (2.8) 7.5 4.8 228.5 Q1 FY19 54.6 156.8 211.4 2.4 7.5 9.8 349.8 % Shift (42.7) 5.7 (6.8) - 0.8 (51.7) (34.7) The portfolio comprises Valu
Slide 19: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars India International Total (Rs. Cr.) (Rs. Cr.) Q1 FY20 136.5 34.0 170.5 29.7 472.5 Q1 FY19 251.4 30.6 281.9 47.7 440.4 % Shift (45.7) 11.0 (39.5) (37.8) 7.3 Bioseed business is intensely research based and is diversified across key crops (Cott
Slide 20: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Sales Realisations Revenues PBIT Cap. Employed Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q1 FY20 62,778 24,131 160.3 (22.5) 466.6 Q1 FY19 91,457 23,848 227.6 8.7 518.6 % Shift (31.4) 1.2 (29.6) - (10.0) Net revenues lower 30% YoY due to lower
Slide 21: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 227 crores in Q1 FY20 from Rs. 213 crores in Q1 FY19. PBIT for the quarter stood . at Rs. 20 crores vis-à-vis Rs. 12 crores in Q1
Slide 22: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Cr.) Revenues PBIT Particulars Retail Projects Total (Rs Cr.) (Rs. Cr.) Q1 FY20 80.8 33.3 114.1 108.1 15.8 Q1 FY19 70.5 34.2 104.7 92.4 10.9 % Shift 14.7 (2.8) 9.0 17.0 45.5 Fenesta a pan India brand has become synonymous with UPVC window
Slide 23: Cement
Cement Operational Financial Sales Revenues PBIT Particulars Realizations (Rs./MT) (MT) (Rs. Cr.) (Rs. Cr.) Q1 FY20 112,519 3,610 47.8 4.0 Q1 FY19 112,476 2,931 41.7 0.9 % Shift 0.0 23.2 14.6 365.1 The Cement business is small. since its capacity is driven by the waste generated from carbide plant.
Slide 24: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive