Hle Glascoat Ltd · NSE:HLEGLAS
Hle Glascoat — Q4 FY2024 Earnings Presentation
51 slides from Hle Glascoat's earnings presentation, May 2024
Slide 1: Investor Presentation May 2024
INVESTOR PRESENTATION HLE Glascoat Limited HLE Glascoat Corporate Limited Presentation May 2024 May 2023
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of HLE Glascoat Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or induc
Slide 3: Financial Performance
Financial Performance Key Operating Ratios and Financial Statements 3
Slide 4: HLE Glascoat Overview
HLE Glascoat Overview Leading Manufacturer of specialised Operating in a segment with a high barrier Well diversified revenue streams processing equipment critical for chemical to entry from multiple products and pharmaceutical industries Modern certified manufacturing facilities of Diversified orde
Slide 5: Quarter at a Glance: Orders, Product Launch, and Geographic Expansion
Quarter at a Glance: Orders, Product Launch, and Geographic Expansion Strong Topline Growth Visibility for Thaletec, Germany Product Expansion Order Book Visibility (No. of months) Successfully Launched SS Reactors Thaletec products . Launched Pharma- order book of over 80 ready for launch in skid a
Slide 6: Financial Performance Highlights
Financial Performance Highlights ₹ 30,689.8 Lakhs ₹ 3,845.4 Lakhs ₹ 1,480.2 Lakhs Q4 FY24 Revenue From Operations EBITDA PAT 28.3% Q-o-Q 34.0% Q-o-Q 147.8% Q-o-Q ₹ 96,792.0 Lakhs ₹ 12,087.7 Lakhs ₹ 4,088.9 Lakhs FY24 Revenue From Operations EBITDA PAT Orderbook of Rs. 47,936.1 Lakhs Consolidated EBI
Slide 7: Quarterly Performance (Rs in lakhs)
Q4FY24 Highlights Revenue from Operations EBITDA PAT 29,834.2 30,689.8 4,730.4 2,278.8 23,923.1 3,845.4 1,480.2 Quarterly Performance (Rs in lakhs) 2,870.6 597.4 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 EBITDA Margins PAT Margins 15.9% 7.6% 12.0% 12.5% 4.8% 2.5% Q4FY23 Q3FY24 Q
Slide 8: Full Year Performance (Rs in lakhs)
FY24 Highlights Revenue from Operations EBITDA PAT 6,980.7 93,202.3 96,792.0 14,507.3 12,087.7 4,088.9 Full Year Performance (Rs in lakhs) FY23 FY24 FY23 FY24 FY23 FY24 EBITDA Margins (%) PAT Margins (%) 15.6 7.5 12.5 4.2 FY23 FY24 FY23 FY24 8
Slide 9: Q4FY24- Revenue Breakup
Q4FY24- Revenue Breakup INDUSTRY-WISE REVENUE BREAK-UP PRODUCT-WISE REVENUE BREAK-UP Others ANF 12% 10% Reactors 32% Speciality Chemicals 24% 31% 58% API & Pharma ANFD 2% Tanks 6% Agrochemicals & Pesticides 25% Others Our customers are spread predominantly across the Well diversified revenue streams
Slide 10: Profit & Loss: Q4 & FY24
Profit & Loss: Q4 & FY24 Rs. In Lakhs Particulars Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Contract with Customers 30,689.8 29,834.2 2.9% 23,923.1 28.3% 96,792.0 93,202.3 3.9% Other Income 196.8 294.2 402.9 881.6 802.7 Total Revenues 30,886.6 30,128.4 2.5% 24,326.0 27.0% 97,6
Slide 11: Balance Sheet: As on 31st March 2024
Balance Sheet: As on 31st March 2024 Particulars Mar-24 Mar-23 Particulars Mar-24 Mar-23 Non-Current Assets Equity Share Capital 1,365.3 1,365.3 Property, Plant and Equipment 31,467.2 29,902.1 Other Equity 40,314.8 31,304.3 Right of use assets 3,008.3 1,406.2 Non Controlling Interest 7,990.2 13.3 Ca
Slide 12: Cash Flow Statement: As on 31st March 2024
Cash Flow Statement: As on 31st March 2024 Cash Flow Statement Mar-24 Mar-23 Cash Flow from Operating Activities Profit before Tax 5,867.7 9,932.8 Adjustment for Non-Operating Items 6,164.0 4,475.4 Operating Profit before Working Capital Changes 12,031.8 14,408.3 Changes in Working Capital -90.6 -10
Slide 13: Segmental Performance
Segmental Performance Segment Revenue Segment Result - EBIT Segment Assets & Liabilities Filtration, Drying and Other +14% +17.0% 37,366.7 5,135.2 41,397.1 34,418.8 4,595.8 31,410.6 4,377.8 4,442.9 Assets Equipment 32,410.6 24,175.0 Liabilities 3,040.2 19,926.5 7,390.4 7,367.5 FY20 FY21 FY22 FY23 FY
Slide 14: Financial Performance - Consolidated
Financial Performance - Consolidated Revenue from Operations (Rs. Lakhs) Order Book (Rs. Lakhs) EBITDA (Rs. Lakhs) & EBITDA Margin 93,202.3 96,792.0 47,936.1 19.6% 45,740.7 17.7% 17.8% 40,265.1 15.6% 65,221.8 12.5% 48,448.9 42,647.4 20,618.0 14,507 19,006.6 12,088 11,776 9,559 7,623 FY20 FY21 FY22 F
Slide 15: Working Capital Analysis
Working Capital Analysis Inventory Receivables Days Days 122 90 113 116 105 109 77 61 43 33 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Payables Net Working Capital Days Days 118 104 109 105 108 95 72 74 46 38 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 15
Slide 16: Future Outlook
Future Outlook Well-Positioned to Capture Future Inorganic Growth Opportunities 16
Slide 17: Acquisition of Controlling Interest in Kinam Engineering Industries
ACQUISITION OF CONTROLLING INTEREST IN KINAM ENGINEERING INDUSTRIES HLE Glascoat Limited November 2023 17
Slide 18: Kinam Engineering Industries - Overview
Kinam Engineering Industries - Overview Cumulative for FY19 to FY22 Chemicals and pharmaceutical sectors account for 60 – 70% of Kinam Engineering Industries (Partnership Firm) is engaged in the business of manufacturing heat revenues exchangers for the chemical and pharmaceutical industries. Kinam
Slide 19: Widest Product Range in the Industry
Widest Product Range in the Industry Shell & Tube Heat Exchanger Corrugated Tube Heat Exchanger Spiral Heat Exchanger Box Heat Exchanger Brand & product • Integrated with KICC corrugated • Similar to conventional tubular Comprises of circular units tube technology • Consists of a shell with a bundle
Slide 20: Capabilities
Capabilities Dedicated and Specialists in Pioneer Team led by State-of-the- Supports experienced heat among Indian professionals art software project engineering, exchangers - players on and capability for specific design & knowledge multiple experienced designing, customised proposal base technolog
Slide 21: Manufacturing Facility
Manufacturing Facility • The Manufacturing Facility is situated at Ambernath (near Mumbai), with a total area of 1,10,000 sq fts, area under cranes ~ 70,000 sq ft. in a leased premises o It is well equipped with state-of-the-art equipment, a single EOT crane of 50T capacity o The Facility is capable
Slide 22: Firm's relationships with Marquee Customers
Firm’s relationships with Marquee Customers 22
Slide 23: Capitalizing on Opportunities
Capitalizing on Opportunities One of the largest players in Only manufacturer that this space offers the full range of heat transfer solutions Adjacencies in the business Also caters to other than in terms of customer profile, chemical – Paint, manufacturing etc. Petrochem, Bulk Chemicals etc. Opens
Slide 24: Synergies from Kinam Engineering
Synergies from Kinam Engineering The Products manufactured by Kinam are complementary to It would also lead to administrative efficiency and optimal utilization HLE Glascoat’s product lines, and there is likely to be very good of various resources being in a similar line of business and provide a sy
Slide 25: Transaction Structure
Transaction Structure The Transaction is comprised of the following phases: Resultant Structure* The Company will acquire 35.56% of profit share and controlling interest in the Phase I Firm, directly from its partners Mr. Kirit Mehta and Mr. Mehul Mehta, as well as Mehta Family* HLE Glascoat 0.5% of
Slide 26: Financial Snapshot
Financial Snapshot FY 2020-21 FY 2021-21 FY 2022-23 FY 2023-24 Revenue 56.17 Cr 103.87 Cr 122.07 Cr 148.91 Cr EBIDTA 10.47 Cr 26.09 Cr 29.94 Cr 33.90 Cr EBIDTA % 18.64 % 25.12 % 24.03 % 22.77 % PBT 6.75 Cr 21.72 Cr 24.86 Cr 27.64 Cr 26
Slide 27: Thaletec: Now in India
Thaletec: Now in India 27
Slide 28: Thaletec GmbH :- Overview
Thaletec GmbH :- Overview • Thaletec GmbH is a wholly owned subsidiary of HLE Glascoat Limited, acquired in December 2021 • A technology driven company specializing in designing and manufacturing Glass Lined Equipment for the chemical and pharmaceutical industries • Market leader in its segment in t
Slide 29: Highlights- Thaletec GmbH
Highlights- Thaletec GmbH 37,000 m2 Plant Area >50% Market Share Leading Innovator Largest Glass Lining Plant Market Leader in the most 17 Patents, Designs and in Europe demanding DACH markets Trademarks Centuries of Legacy Technology Driven Manufacturing since 1686, 10 new solutions in 2021 Glassin
Slide 30: Manufacturing Facilities
Manufacturing Facilities THALETEC, GERMANY • Operates a 40,000 sq. m., manufacturing facility with more than 160 employees • ISO 9001 : 2015 and EN ISO 50001 : 2018 • Capabilities to manufacture equipment with dimensions of up to 100,000 liters volume • Unmatched product offering; offers multiple on
Slide 31: Synergy and India Strategy
Synergy and India Strategy • HLE Glascoat now proposes to use certain innovative manufacturing technologies of Thaletec Germany to improve and enhance its product offering in India. • The introduction of products incorporating the proprietary technology of Thaletec Germany will enable the Indian ent
Slide 32: Evolution of the Group
Evolution of the Group Growth from Engineering Excellence 32
Slide 33: Background
Background “ Late Dr. K. H Patel, obtained his Master’s Degree in Chemical Engineering from University of Southern California and PhD from Columbia University New York, returned home to ” contribute to a newly independent India. Over the years, the Group has expanded its horizon. The Group is a The
Slide 34: Our Products: Application and Functioning
Our Products: Application and Functioning Glass Lined Equipment Filtration & Drying Equipment 34
Slide 35: Diversified Product Portfolio
Diversified Product Portfolio Filtration Drying Custom Jobs Agitated Nutsche Filters Rotary Vacuum Paddle Dryers Tailor made equipment in a range of Agitated Nutsche Filter-Dryers Rapid Disc Dryers/Coolers MOCs fabricated up to 75mm thick, 60 Kilo-lab Filter-Dryers Spherical Dryers m3 capacity and o
Slide 36: Our Journey: Key Milestones
Our Journey: Key Milestones 1981 2017 2021 Operations Begin- HLE acquires Swiss Acquisition – HL Engineers Glasscoat Thaletec GmbH HLE begins operations, HLE expands into Glass HLE Glascoat acquires the manufactures machinery for Lined Equipment with the global business of leading Group chemical pla
Slide 37: Our Journey: Key Milestones
Our Journey: Key Milestones Largest One of the Largest 30+ Player in India 25+ Players in India Years of Filtration Years of Glass and Drying “Preferred Supplier” Lining In Glass Lined Equipment Leading Global Presence Acquisition of Thaletec Manufacturer of ANFDs 600+ 2,000+ Filters p.a. GL Equipme
Slide 38: Manufacturing Facilities
Manufacturing Facilities MAROLI WORKS ANAND WORKS • 15,000 m2 built-up area with nearly 13,000 m2 covered under 40 EOT • 20,000 m2 floor area covered by 33 EOT cranes. cranes. • Five SCADA controlled electric and gas fired furnaces for glass • Machine shop including VMCs, CNC Turn-mill, CNC drilling
Slide 39: Manufacturing Facilities
Manufacturing Facilities THALETEC, GERMANY • Operates a 40,000 sq. m., manufacturing facility with more than 160 employees • ISO 9001 : 2015 and EN ISO 50001 : 2018 • Capabilities to manufacture equipment with dimensions of up to 100,000 liters volume • Unmatched product offering; offers multiple on
Slide 40: Manufacturing Facilities
Manufacturing Facilities SILVASSA WORKS • 8600 m2 floor area covered by 18 EOT cranes. • Well developed welding capabilities with pulsed arc welding systems and over 30 qualified welders. • Jigs, fixtures, welding manipulators and specialized tooling for fast and repeatable performance. • Machine sh
Slide 41: Competitive Edge: Product Engineering
Competitive Edge: Product Engineering Pilot Plant and R&D Facility Application Center Fully Equipped Design and Engineering Capabilities • Pilot plant and R&D facility present at With • Design & Engineering team of more than 35 Maroli • Filtration & Drying Equipment – ANFDs, RVPDs engineers. • Our p
Slide 42: Competitive Edge: Product Engineering
Competitive Edge: Product Engineering Special Purpose Machines (SPMs) and Tooling • Optimized every step of the fabrication process with SPMs developed and built by our team of process engineers. • Our SPMs dramatically reduce the manhours required for a job and increase process repeatability. At th
Slide 43: Robust Systems
Robust Systems ASME Accreditation CE Compliance JIS Compliance Authorized to use Designing and manufacturing Designing and ASME ‘U’, ‘NB’ and ‘R’ in compliance with CE as per manufacturing in Stamps for pressure Pressure Equipment, ATEX, compliance with ‘JIS’. vessels. Machinery, Electromagnetic, Lo
Slide 44: Project Showcase: Glass Lined Equipment
Project Showcase: Glass Lined Equipment Tilting Multifunction ANFD 8KL Pharma RVPD USA India Reactor, Filter, Dryer and Crystallizer built into A cantilever RVPD, supplied with a quick one opening front cover. ASME U-Stamp Certified MOC: SS316L MOC: SS316L ANFD for Sterile Application Australia 30KL
Slide 45: Project Showcase: Glass Lined Equipment
Project Showcase: Glass Lined Equipment Delivered 50 and 65 KL Tanks 32 and 40KL GMP Reactors Products at India India Scale Glass lined vessels supplied in the Indian Glass lined GMP reactors manufactured market followed by a repeat orders, and sold in the country. taking the total to 8 installation
Slide 46: Project Showcase: Custom and Exotic Metal Equipment
Project Showcase: Custom and Exotic Metal Equipment Continuous Pan Filter Oyster Filter Germany Germany 6m diameter pan for a continuous type filter 6m Diameter rotating type continuous filter, rotating within the tolerance of 3mm compliant with ASME, CE and JIS Standards MOC: Inconel MOC: SS316L Hi
Slide 47: Geographical Presence
Geographical Presence Strong Domestic Sales Network and Global Footprint Europe Russia Sales Network Channel Partner USA Ahmedabad Sales Network Saudi Arabia Channel Partner Channel Partner Vadodara Thailand Anand Channel Partner Channel Partner Regd. Office Surat Hyderabad Singapore Sales Office Ch
Slide 48: Experienced Management Team
Experienced Management Team Himanshu Patel He is a qualified Electrical Engineer graduating from the University of Bombay in the year 1976 and has more than 45 years of experience in the business of chemicals and engineering. Nilesh Patel He has completed his BSc (Chemistry) from the University of B
Slide 49: Professional Management Team – India
Professional Management Team – India Chief Financial Officer Director Sales and Vice President Sales Vice President – Product Chief People Officer Marketing and People and Marketing Excellence Success Total Experience: 17 years Total Experience: 18 years Total Experience: 23 years Total Experience:
Slide 50: Professional Management Team – Germany
Professional Management Team – Germany Managing Managing Head of Finance & Head of Head of Director Director Administration (CFO) Operations Sales & Service Associated with Thaletec for Associated with Thaletec for Associated with Thaletec for Associated with Thaletec for Associated with Thaletec fo
Slide 51: Thank You
Thank You Company : Investor Relations Advisors : Mr. Naveen Kandpal Chief Financial Officer Orient Capital (a division of Link Group) investor.relations@hleglascoat.co Mr. Ronak Jain m +91 98209 50544 CIN: L26100GJ1991PLC016173 ronak.jain@linkintime.co.in Mr. Irfan Raeen +91 97737 78669 irfan.raeen