Bodal Chemicals Limited · NSE:BODALCHEM
Bodal Chemicals — Investor Presentation (August 2021)
47 slides from Bodal Chemicals's investor presentation, Aug 14, 2021
Slide 1: Bodal Chemicals Ltd. – Exchange submission letter
Bodal Chemicals Ltd. COLOURS. INTEGRATION. INNOVATION. By Online Submission Sec/21-22/45 Date: 14-08-2021 To, To, The General Manager, The General Manager, BSE Ltd. National Stock Exchange of India Ltd. 1st Floor, New Trading Ring, Exchange Plaza, Rotunda Building, P.J. Tower, Plot no. C/1, G Block,
Slide 2: Investor Presentation – August 2021
Bodal Chemicals Limited Investor Presentation – August 2021
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Bodal Chemicals Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Q1 FY22 Highlights
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Slide 5: Business Highlights
Business Highlights • Overall performance for the quarter has been marginally impacted as we were working with limited Revenue (Rs. In Mn) workforce in the month of May due to sudden spike in Covid cases. For Q1FY22, Total income on consolidated basis stood at Rs 4,282 mn whereas on standalone basis
Slide 6: Performance Highlights: Revenue and Geographic Breakup
Performance Highlights Q1FY21 Q1FY22 Revenue Rs 1,170 mn Revenue Rs 4,202 mn 3.8% Basic Chemicals 13.5% 12.4% 4.3% 12.7% Dyestuff Revenue Breakup 0.0% 11.8% Dye Intermediates 31.2% 36.5% Chlor Alkali 37.5% TCCA 36.2% Others Geographic Breakup 38.8% Domestc 64.4% 35.6% 61.2% Export * On Consolidated
Slide 7: Performance Highlights: Revenue and Production Volume
Performance Highlights (Rs in mn) Basic Chemicals Dyestuff Dye Intermediates Chlor Alkali TCCA Revenue Breakup +267% +207% +246% 533 1,311 1,522 497 181 145 427 439 0 0 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 *Revenue breakup on Consolidated basis (MT) Production Volume
Slide 8: Subsidiaries Performance
Subsidiaries Performance (Rs in mn) SPS BCTPL Sen-er Boya BCL China +644% +2,324% +159% Revenue 310 21 231 154 89 42 20 1 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 SPS BCTPL Sener Boya Bodal-China Particulars (Rs in mn) Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Q1FY21 Q1FY22 Sales 41.6
Slide 9: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. In Mn) Q1 FY22 Q1 FY21 Y-o-Y Q4 FY21 Q-o-Q Revenue from Operation 4,218.1 1,178.2 4,327.3 Other Income 63.7 44.8 -1.3 Total Income 4,281.8 1,223.0 250.1% 4,326.0 -1.0% Raw Material Consumed 2,256.5 945.8 2,695.2 Employee Expenses 240.1 189.9 188.
Slide 10: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. In Mn) Q1 FY22 Q1 FY21 Y-o-Y Q4 FY21 Q-o-Q Revenue from Operation 3,868.5 1,101.2 4,060.4 Other Income 71.8 54.9 24.7 Total Income 3,940.3 1,156.1 240.8% 4,085.0 -3.5% Raw Material Consumed 2,061.6 901.7 2,538.0 Employee Expenses 220.3 178.7 167.7
Slide 11: Company Overview
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Slide 12: A Leading Chemical Manufacturer
A Leading Chemical Manufacturer 3 10 Rs. 12,424 Mn Decade Old organization Manufacturing Facilities FY21 Consolidated Revenue 12% 11% Basic Chemicals Dye Intermediates 70+ 10 7 Domestic + 3 Overseas Depots 36% 41% Dyestuffs Distributors Across India Others 7% Domestc Export 11% S. America 200+ 600+
Slide 13: Company Evolution
Company Evolution 1989 1993 - 1994 1997-2004 2006-2010 ▪ Incorporated as JK ▪ Acquired Unit II & Unit III ▪ 1997-Acquired two Units ▪ 2006-Listed on BSE via reverse merger Pharma at Unit II-A ▪ Name changed to Bodal ▪ 2004 -Acquired Unit I & with Dintex Dye Chem (Unit I) Chemicals Pvt. Ltd. Forward
Slide 14: Geographical Footprint
Geographical Footprint ~33% of Total Revenue is exported to over 45 countries across the world Revenue Breakup Domestic Export North America 100% 100% 100% 100% 11% Europe 29% 69% 56% 59% 67% Asia 53% 31% 44% 41% 33% FY18 FY19 FY20 FY21 Export Breakup (FY21) South America 7% 11.0% 7.0% Asia North Am
Slide 15: Long Standing Clientele
Long Standing Clientele Basic Chemicals Dye Intermediates Dyestuffs 600+ 70+ 45+ Countries Customers Distributors Across India Global Presence 14
Slide 16: Experienced Board & Management Team
Experienced Board & Management Team Mr. Suresh J. Patel Mr. Bhavin S. Patel Mr. Ankit S. Patel Mr. Mayur Padhya Chairman & MD Executive Director Executive Director Chief Financial Officer Experience : 30 years Experience : 17 years Experience : 13 years Experience : 25 years Background : Background
Slide 17: Awards & Certifications
Awards & Certifications Awards Certificates 2005-06 2016-17 ▪ BCL has ISO 9001:2015 and ISO 14001:2015 certifications ▪ Received the prestigious Chemexcil Gold Award for ▪ Highest Self Manufacturing Turnover for Domestic and for their production of Dye intermediates & Dyestuffs. outstanding performa
Slide 18: Product Overview
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Slide 19: Diversified Product Portfolio
Diversified Product Portfolio Existing Products New Products Addition Basic Chemicals Dye Intermediates Dyestuffs Benzene Derivatives Sulphuric Acid Chlor Alkali ▪ Sulphuric Acid ▪ Vinyl Sulphone & ▪ Reactive Dyes ▪ MCB ▪ Caustic soda ▪ Sulphuric Acid ▪ Chlorosulphonic Acid Derivatives ▪ Acid Dyes ▪
Slide 20: Manufacturing Value Chain
Manufacturing Value Chain Input Materials Basic Chemicals Dye Intermediates Dyestuffs Trion Chemicals End Use Industry Water Vinyl Sulphone + Derivatives Reactive Dyes Textiles Para Nitro Aniline Ice H Acid Beta Naphthol Steam DASA Sulphuric Acid Power Acid Dyes Leather FC Acid Sulphur Chloro Sulpho
Slide 21: Manufacturing Facilities
Manufacturing Facilities Total 10 10 Depots In-house R&D Lab Total Employees Manufacturing Facilities (Exclusive Distribution Warehouse) ▪ 3 – Ahmedabad, Gujarat ▪ 1 - Ahmedabad, Gujarat ▪ Domestic 1,560+ ▪ 7 - India ▪ 4 - Vadodara, Gujarat ▪ 2 - Vadodara, Gujarat ▪ Contract Labours ~1,500 ▪ 1 - Chi
Slide 22: Our Subsidiaries
Our Subsidiaries Company FY21 Location Stake Details Name Revenue S P S Processors Private H-Acid - 3,000 MTPA | Limited (SPS) Uttar Pradesh, India 70% Rs 993 mn Vinyl Sulphone - 6,000 MTPA (expected to commercialized from Q2 FY22) Bodal Chemicals Trading Private Limited Gujarat, India 100% Rs 142 m
Slide 23: Key Growth Drivers
Key Growth Drivers Dyestuff Expansion TCCA Division Vinyl Sulphone at SPS Turkish entity Sener Boya Acquired 100% stake in Trion Additional Vinyl Sulphone Acquired ~ 80% stake to Capacity expansion of Chemicals and amalgamated Dyestuffs by 18,000 MTPA will plant of 6,000 MTPA capacity strengthen the
Slide 24: Our Key Strengths
Our Key Strengths 3 Decades of Presence ✓ Home grown player with deep understanding of Indian & Integrated Business Model global chemical market ✓ Integrated business model leading to cost competitiveness and protection against commodity cycle In house R&D Facilities ✓ Well- equipped production faci
Slide 25: India's Edge In The Global Chemical Market
India’s Edge In The Global Chemical Market Indian Chemical Industry Megatrend Industry (USD bn) ~9% ~11% Structural Shift China +1 Unorganized players in the Dye Intermediates India is emerging as the next alternative 300 and Dyestuffs Industry has been declining supplier for the global market 276 1
Slide 26: Next Level of Growth
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Slide 27: Capex To Drive Next Level Of Growth
Capex To Drive Next Level Of Growth Capacity Addition (MTPA): Total Capex: Revenue Expected: Commercialisation ~Rs 6,700 mn ~Rs 8,500 mn P.A Expected by Q3FY23 Benzene Downstream ~78,960 Chlor Alkali Products including Sulphuric Acid ~3,40,000 Caustic Soda ~99,000 Greenfield Saykha Total Project Cos
Slide 28: Moving Up The Value Chain With New Chemistries
Moving Up The Value Chain With New Chemistries Sulphur Chain Benzene Chain Chlor Alkali Chain Chlorine Oleum 23% - 65% PNA PNCB Salt & Water Electrolysis Caustic Soda Solution (Power) 2,4 DNCB MPDSA Sulphur Sulphuric Acid Liquid SO3 ONCB Benzene MCB Hydrogen MNCB Sulphuric Acid Captive Consumption <
Slide 29: Capex To Be Completed in FY23
Capex To Be Completed in FY23 Revenue Visibility Chemical Segments FY21 FY22 FY23 FY24 Basic Chemicals 11.0% ✓ ✓ ✓ Dye Intermediates 41.0% ✓ ✓ ✓ Dyestuffs 36.0% ✓ ✓ ✓ Trichloroisocyanuric Acid (TCCA) 0.4% ✓ ✓ ✓ Caustic Soda - ✓^ ✓^ ✓ Sulphuric Acid & Derivatives (New additional capacity) - - ✓* ✓ Be
Slide 30: Responsible Corporate
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Slide 31: Environmentally Compliant
Environmentally Compliant Common Treated Effluent Zero Discharge Effluent Spray Effluent Effluent Multiple Effect Solid Waste Discharge Access Plant Location Site (Solid+ Dryer Plant Treatment Plant Treatment Plant, Evaporator Incinerator Plant VECL Cala Liquid+Air) (ESDP) (at GIDC) (MEEP) Lit./Day
Slide 32: Pollution Control Systems
Pollution Control Systems ▪ Treats low load waste water ▪ Clarification ▪ Compliant with GPCB, CPCB norms ▪ Bio- degradation by AIS Effluent Treatment Plant (ETP) ▪ Capacity 500,000 liters / day ▪ Tertiary Poly system ▪ Chemical oxidation ▪ Online monitoring system ▪ Flocculation ▪ Installed world’s
Slide 33: Responding To Critical Issue
Responding To Critical Issue ▪ High costs involved in complying with environmental regulations Moreover, the rising industrial water and power rates are a concern. Key Challenges ▪ Scarcity of water can lead to insufficient supply affecting our production needs. ▪ The Chemical Industry is energy and
Slide 34: CSR Activities
CSR Activities Key Focus Areas ▪ Eradicating hunger, poverty and malnutrition ▪ Promoting healthcare and sanitation including contribution to the Swach Bharat Kosh ▪ Promoting education and enhancement of rural infrastructure ▪ Ensuring environmental sustainability ▪ Providing funds for construction
Slide 35: Way Forward
Way Forward Lower cost of production Capacity Rampup Economies of scale New Client Penetration Long term relationship with customers Ongoing Internal Efficiency Superior quality Our Edge Rigorous Integration 3+ decades of experience New Greenfield Expansion Client Diversification More B2C Approach I
Slide 36: Consolidated Financial Highlights
Consolidated Financial Highlights
Slide 37: Financial Highlights
Financial Highlights Revenue (Rs. In Mn) EBITDA (Rs. In Mn) PAT (Rs. In Mn) 14,369 13,852 2,366 2,495 1,329 1,413 12,449 12,424 2,039 1,219 11,517 1,481 860 1,025 398 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 EBITDA Margin (%) PAT Margin (%) 18.3% 10.4% 10.7% 17.0% 1
Slide 38: Subsidiaries Performance
Subsidiaries Performance Q4 FY21 Performance Particulars (Rs. In Mn) SPS BCTPL Sener Bodal (China) Total Income 293.0 31.0 165.0 39.0 EBITDA 20.0 -0.1 -60.0 2.0 PAT -5.0 -0.1 -91.0 1.0 FY21 Performance Particulars (Rs. In Mn) SPS BCTPL Sener Bodal (China) Total Income 993.0 142.0 792.0 161.0 EBITDA
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. In Mn) Q4 FY21 Q4 FY20 Y-o-Y Q3 FY21 Q-o-Q FY21 FY20 Y-o-Y Revenue from Operation 4,327.3 3,684.7 3,661.5 12,264.3 13,748.2 Other Income -1.3 36.9 70.1 159.3 104.0 Total Income 4,326.0 3,721.6 16.2% 3,731.6 15.9% 12,423.7 13,852.2 -10.3% Raw Mate
Slide 40: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (In Mn) Mar-21 Mar-20 Particulars (In Mn) Mar-21 Mar-20 ASSETS Equity & Liabilities Non-current assets 8,768.5 7,127.1 Equity 9,799.1 9,378.6 Property, Plant and Equipment 7,799.9 6,376.4 Equity Share capital 244.7 244.7 Capital Work-In-Progress 4.1 7.7 Other e
Slide 41: Key Ratios
Key Ratios Debt/ Equity (x) Return on Equity(%) Trending lower due to increasing 0.45 35.6% capital expenditure 0.41 17.5% 17.0% 0.17 0.19 0.12 9.2% 4.1% FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Return on Capital Employed (%) Net Working Capital Days Trending lower due to increasing capital
Slide 42: Standalone Financial Highlights: Q4 & FY21
Standalone Financial Highlights: Q4 & FY21
Slide 43: Segmental Performance
Segmental Performance Basic Chemical Dyestuffs Dye Intermediates Total Revenue (Rs in mn) Revenue Breakup 1,601 5,324 6,544 13,940 4,808 5,895 12,377 11,477 1,282 1,269 3,993 11,329 1,149 3,533 4,618 4,589 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Basic Chemical
Slide 44: Performance Highlights
Performance Highlights Revenue (Rs. In Mn) EBITDA (Rs. In Mn) PAT (Rs. In Mn) 13,940 2,477 1,441 12,377 2,311 1,329 1,275 11,926 11,329 11,477 2,085 1,463 901 1,009 483 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 EBITDA Margin (%) PAT Margin (%) 18.7% 17.5% 11.2% 11.4%
Slide 45: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. In Mn) Q4 FY21 Q4 FY20 Y-o-Y Q3 FY21 Q-o-Q FY21 FY20 Y-o-Y Revenue from Operation 4,060.4 3,315.8 3,307.0 11,297.3 12,236.0 Other Income 24.7 34.9 47.0 180.0 141.0 Total Income 4,085.0 3,350.6 21.9% 3,354.0 21.8% 11,477.3 12,377.0 -7.3% Raw Materia
Slide 46: Standalone Balance Sheet
Standalone Balance Sheet Particulars (In Mn) Mar-21 Mar-20 Particulars (In Mn) Mar-21 Mar-20 ASSETS Equity & Liabilities Non-current assets 9,741.6 7,927.0 Equity 9,865.3 9,369.1 Property, Plant and Equipment 7,491.0 6,097.8 Equity Share capital 244.7 244.7 Capital Work-In-Progress 44.9 8.1 Right of
Slide 47: Thank You
Thank You Contact Information Company: Investor Relation Advisors: Bodal Chemicals Ltd. Strategic Growth Advisors Pvt. Ltd. CIN – : L24110GJ1986PLC009003 CIN - U74140MH2010PTC204285 Mr. Mayur Padhya Mr. Shrikant Sangani / Ms. Pankti Majithia Chief Financial Officer Email - shrikant.sangani@sgapl.net
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