Balrampur Chini Mills Ltd · NSE:BALRAMCHIN
Balrampur Chini Mills — Q2 & H1 FY21 Earnings Presentation
34 slides from Balrampur Chini Mills's earnings presentation, Nov 4, 2020
Slide 1: Cover letter to stock exchanges
BALRAMPUR CHINI MILLS LIMITED CIN • L15421WB1975PLC030118 REGO. OFF. : "FMC FORTUNA" 2ND FLOOR, 234/3A, A. J. C. BOSE ROAD, KOLKATA- 700 020 PHONE: 2287-4749 •FAX: (033) 2283-4487 • Email : bcml@bcml.in • www.chini.com 4th November, 2020 National Stock Exchange of India Limited BSE Limited Listing D
Slide 2: Q2 & H1 FY21 Results Presentation
Balrampur Chini Mills Limited Q2 & H1 FY21 Results Presentation
Slide 3: Safe Harbour
Safe Harbour Certain statements in this document may be forward- looking statements. Such forward- looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, agricultural policies, climatic conditions, technological risks, and
Slide 4: Conference Call Details
Conference Call Details Timing 12:00 noon on Thursday, November 5, 2020 Conference dial-in Primary number: +91 22 6280 1141 / 7115 8042 Toll free Number Singapore: 800 101 2045 Hong Kong: 800 964 448 USA: 1 866 746 2133 UK: 0 808 101 1573 3
Slide 5: Table of Contents
Table of Contents Industry Overview 06-09 Company Overview 11-12 Q2 & H1 Results Highlights 14-25 Annexure 27-31 4
Slide 6: Industry Overview
Industry Overview
Slide 7: Classical Indian Sugar Sector Cycle
Classical Indian Sugar Sector Cycle Natural Cyclicality Induced Cyclicality (due to cane arrears) Issues of the Induced Cyclicality Erratic supply Lower Cane for sugar Lower sugar production Lower cane production Lower sugar availability High cane arrears Decrease in area under cane cultivation Incr
Slide 8: Current Scenario: Induced Sugar Cycle no Longer Prevalent
Current Scenario: Induced Sugar Cycle no Longer Prevalent End of Induced Cyclicality (structurally handled) Structural Improvement Improvements in Cane Recovery New variety of sugarcane led to structural Minimum improvement in cane recovery Rational Selling Price Cane pricing (MSP) of Sugar MSP of s
Slide 9: Central Government Policies
Central Government Policies o Fixed Fair & Remunerative Price (FRP) for sugar season 2020-21 at ` 285 per quintal of sugarcane linked to a basic recovery of 10% as compared to `275 per quintal for last year. o Minimum Selling Price (MSP) of sugar which was first time fixed at `29000/- per MT in June
Slide 10: Central Government Policies… contd.
Central Government Policies… contd. o The pricing methodology for ethanol also remained unchanged. Ethanol prices are announced annually by the Central Government based on a formula, which considers the price of sugar and FRP of sugarcane to calculate the ethanol procurement prices. The ethanol pric
Slide 11: Company Overview
Company Overview
Slide 12: A Leading Integrated Sugar Player In India
A Leading Integrated Sugar Player In India Maximize value accrual from every tonne of cane crushed Strong management team with years of sugar industry experience wherein close proximity between plants plays a vital rote Management Focus on Value expertize Maximization Operational Sizable Healthy eff
Slide 13: Plant Locations
Plant Locations Capacities with which Company operates it various facilities are as under:- COGEN POWER (MW) Sugar Distillery UNITS SALEABLE Capacity (TCD) (KLPD) CAPACITY BALRAMPUR 12,000 160 27.25 BABHNAN 10,000 100 10.00 Gularia TULSIPUR 7,000 - - Tulsipur Kumbhi HAIDERGARH 5,000 - 20.95 Balrampu
Slide 14: Q2 & H1 Results Highlights
(s) Q2 & H1 Results Highlights
Slide 15: Management's Message
Management’s Message “I am glad to share that BCML has delivered a healthy performance during the quarter under review, despite a challenging environment due to the ongoing pandemic. The Sugar segment delivered subdued performance on account of non-production quarter where all off-season expenses in
Slide 16: Performance Highlights (Standalone)
Performance Highlights (Standalone) Revenue (` crores) EBIDTA (` crores) 2,720.13 345.19 330.43 1,805.47 1,289.80 127.74 154.57 865.98 Q2FY21 Q2FY20 H1FY21 H1FY20 Q2FY21 Q2FY20 H1FY21 H1FY20 EBIDTA lower by 17.33% in Q2FY21 as compared to Q2FY20 50.51% increase in revenues in Q2FY21 as compared to Q
Slide 17: Performance Highlights (Consolidated)
Performance Highlights (Consolidated) Revenue (` crores) 2,720.13 1,805.47 1,289.80 865.98 Q2FY21 Q2FY20 H1FY21 H1FY20 Total Comprehensive Income (TCI) (` crores) 214.51 203.67 98.92 76.85 Q2FY21 Q2FY20 H1FY21 H1FY20 16
Slide 18: Company Highlights
Company Highlights Board of Directors at their meeting held on 4th November 2020 has approved setting up of 320 KLPD distillery at Maizapur unit. This distillery will operate on sugarcane syrup during season and grains during off-season. Total capex for the same is estimated ~`320 crores for which ~
Slide 19: Financial Overview – Standalone Results
Financial Overview – Standalone Results Q2 FY21 Q2 FY20 YoY H1FY21 H1FY20 YoY Particulars (` In crores) (` In crores) change (%) (` In crores) (` In crores) change (%) Revenue from Operations 1289.80 856.98 50.51% 2720.13 1805.47 50.66% EBITDA 127.74 154.57 -17.36% 345.19 330.43 4.47% EBITDA Margin
Slide 20: Financial Overview – Consolidated Results
Financial Overview – Consolidated Results Q2 FY21 Q2 FY20 YoY H1FY21 H1FY20 YoY Particulars (` In crores) (` In crores) change (%) (` In crores) (` In crores) change (%) Revenue from Operations 1289.80 856.98 50.51% 2720.13 1805.47 50.66% Profit Before Tax 99.46 121.45 -18.11% 282.72 253.84 11.38% T
Slide 21: Segmental Overview – Sugar
Segmental Overview – Sugar YoY YoY Financial U.O.M. Q2FY21 Q2FY20 H1FY21 H1FY20 change (%) change (%) Segment Revenues * (` in crores) 1,063.43 750.61 41.68% 2404.55 1587.63 51.46% Segment PBIT (` in crores) 23.48 90.14 -73.95% 118.44 163.43 -27.53% PBIT % % 2.21% 12.01% - 4 93% 10.29% - Operational
Slide 22: Segmental Overview – Sugar … contd.
Segmental Overview – Sugar … contd. Sugarcane Crushed (lac quintals) Sugar Recovery before considering sugar loss on account of B-heavy diversion (%) 1103.62 1020.3 927.83 11.58 11.93 12.00 11.90 10.66 10.84 794.65 167.34 200.76 - - - - FY17 FY18 FY19 FY20 H1 H1 Q2 Q2 FY17 FY18 FY19 FY20 H1 H1 Q2 Q2
Slide 23: Segmental Overview – Distillery
Segmental Overview – Distillery YoY YoY Financial U.O.M. Q2FY21 Q2FY20 H1FY21 H1FY20 change (%) change (%) Segment Revenues * (` in crores) 262.82 133.92 96.25% 486.08 273.07 78.00% Segment PBIT (` in crores) 100.99 67.37 49.90% 196.85 152.49 29.09% PBIT % % 38.42% 50.30% - 40.50% 55.84% - YoY YoY O
Slide 24: Segmental Overview – Distillery … contd.
Segmental Overview – Distillery … contd. Total Production (Cr BL) Ethanol Production from C-heavy Ethanol Production from B-heavy molasses route (Cr BL) molasses route (Cr BL) 12.76 4.74 10.66 8.87 3.58 7.21 8.10 10.29 5.87 4.20 7.18 7.90 7.99 3.09 5.57 1.51 3.16 2.94 2.08 - - - - - FY17 FY18 FY19 F
Slide 25: Segmental Overview – Co-generation
Segmental Overview – Co-generation YoY YoY Financial U.O.M. Q2FY21 Q2FY20 H1FY21 H1FY20 change (%) change (%) Segment Revenues (` in crores) 30.79 25.00 23.16% 126.44 135.57 -6.73% Segment PBIT (` in crores) (9.91) (9.20) - 1.70 (2.00) - PBIT % % -32.19% -36.80% - 1.34% -1.48% - YoY YoY Operational
Slide 26: Segmental Overview – Co-generation … contd.
Segmental Overview – Co-generation … contd. Production (Crore units) 104.97 87.41 90.24 74.69 31.59 21.76 4.53 4.15 FY17 FY18 FY19 FY20 H1 H1 Q2 Q2 FY20 FY21 FY20 FY21 Power sales (Crore units) Average Realization (` per unit) 66.38 4.81 4.81 4.94 53.07 56.80 52.61 3.06 3.10 3.20 3.13 3.23 20.42 10.
Slide 27: Annexure
Annexure
Slide 28: Cash Flow Statement – on standalone basis
Cash Flow Statement – on standalone basis (` in crore) Sl. Particulars Mar-20 Sep-19 Sep-20 1 PBT 554.93 252.52 272.49 2 Cash generated from operating activities 849.61 673.68 1498.70 3 Net cash (used) in investing activities (304.71) (220.87) (27.17) 4 Net cash (used) in financing activities (545.5
Slide 29: Borrowings & Ratios
Borrowings & Ratios 605.65 295.97 239.29 331.49 - 294.65 634.38 307.70 197.16 292.84 176.00 155.05 1,155.84 1,057.20 772.90 333.78 573.03 2,294.97 413.22 1,899.48 178.23 - 1,633.18 1,600.87 352.16 464.15 448.30 430.08 406.54 883.96 Sep,19 Dec,19 Mar,20 Jun,20 Sep,20 Sep,19 Dec,19 Mar,20 Jun,20 Sep,2
Slide 30: Distribution to Shareholders
Distribution to Shareholders (` in crore unless otherwise mentioned) Sl. Particulars 2016-17 2017-18 2018-19 2019-20 2020-21 1 By way of Dividend * 103.20 70.72 68.85 66.31 - - Dividend per share - (`) (3.50) (2.50) (2.50) (2.50) - 2 By way of buy-back of shares ** 175.00 99.00 - 147.67 221.93 3 Tot
Slide 31: Extract of Statement of Assets & Liabilities and Profitability of Associates
Extract of Statement of Assets & Liabilities and Profitability of Associates (` in crore except for EPS data) AUXILO FINSERVE PVT. LTD. VISUAL PERCEPT SOLAR PROJECTS PVT. LTD. Particulars March, 20 Sept., 20 Particulars March, 20 Sept., 20 Liabilities Liabilities Share Capital 344.06 344.06 Share Ca
Slide 32: Key Market Statistics
Key Market Statistics Particulars As on September 30, 2020 Shareholding Pattern As on 30.09.2020 (in %) BSE / NSE Ticker 500038 / BALRAMCHIN CMP BSE / NSE (Rs.) 155.10 / 155.20 Others (30.09.2020) 27% Promoter Market Cap. BSE / NSE (Rs. Crore) 3,257.10 / 3,259.20 41% DII No. of Outstanding shares (C
Slide 33: Contact Us
Contact Us For further information contact: About Balrampur Chini Mills Limited Pramod Patwari CIN: L15421WB1975PLC030118 Chief Financial Officer Balrampur Chini Mills Limited (BCML) is one of the largest integrated Balrampur Chini Mills Limited sugar companies in India. The allied businesses of the
Slide 34: Thank You
YOu Thank a |
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