Shree Pushkar Chemicals & Fertilisers Ltd. · NSE:SHREEPUSHK
Shree Pushkar Chemicals & Fertilisers — Q4 FY2021 Earnings Presentation
42 slides from Shree Pushkar Chemicals & Fertilisers's earnings presentation, Jun 8, 2021
Slide 1: Scalable & Sustainable: Unique Zero Waste Company
SCALABLE & SUSTAINABLE Unique Zero Waste Company Shree Pushkar Chemicals & Fertilisers Limited Q4 & FY21 Investor Presentation
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shree Pushkar Chemicals & Fertilisers Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or
Slide 3: Index
Index Particulars Page no. Competitive Edge 4-15 ESG Initiatives 16-20 Company Overview 21-33 Financial Performance 34-41 SAFETY SOCIETY ECO-FRIENDLY ENVIRONMENTAL 3
Slide 4: Competitive Edge
Competitive Edge 4
Slide 5: Unique Positioning
Unique Positioning Fully - Integrated Strong Operating player Cash Flow Unique Zero Diversified Waste Company Product mix Turnaround Capacity Expansion Acquisitions Funded Capex from Environmental, Internal Accruals Social & Governance “One-stop shop” for the Textile Effects industry Fertilizers and
Slide 6: Fully - Integrated player
Fully - Integrated player Final Output Dye- Dyestuffs Fertilizers Others intermediates Inputs Purchased Effluents Generated Capture entire Value Chain B- Napthol Naphthalene R-Complex Spent Acid Used in the combination Meta Phenyl Aniline HCL Acetic Acid Diamine High Pressure Rock Phosphate Sulphur
Slide 7: Unique Zero Waste Company – A sustainable business model
Unique Zero Waste Company – A sustainable business model Meta Ureido Aniline Effluents - 1 Sulpho VS ✓ At Shree Pushkar, environment sustainability is not just compliance to laws it is more about our concern. As important as Business H - Acid growth Vinyl Sulphone ✓ Proactive organization emphasized
Slide 8: Capacity Expansions
Capacity Expansions Chemicals* (in. MTPA) Fertilisers (in. MTPA) ~2x ~3x 30,000 4,44,400 14,060 14,060 14,060 1,49,200 1,49,200 1,49,200 FY19 FY20 FY21 FY22-23E FY19 FY20 FY21 FY22-23E Capacities to be DOUBLED in Chemicals & TRIPLED in Fertilisers in the next 1-2 years. All capex funded through Inte
Slide 9: Capex funded through Internal Accruals
Capex funded through Internal Accruals… Zero Debt Company In-house Funding of Capex plans Non-Lien Deposits of ~ Rs. 59 crs Unit 5 & Madhya Bharat Plants Unit 1 & Unit 2 Acquisition of Dye-intermediates Solar Power Plant: Total Capex planned Madhya Bharat Revamp Unit 1: Unit 5: capex of Rs. 120 - 13
Slide 10: Alongside Generating Cash to Support Future Growth
…Alongside Generating Cash to Support Future Growth Sufficient cash generated over the years to fund the capex requirements & growth of the business Surplus Cash (Rs. in Crs) OCF / EBIDTA (%) 56 37 83% Cash generated to FY19 manage capex through 19 internal accruals 76 FY20 21 150% Self-sufficient b
Slide 11: Strong Operating Cash Flows
Strong Operating Cash Flows Operating Cash Flows (Rs. in Crs) OCF / EBIDTA (%) 75.6 150% 55.8 95% 41.2 83% 17.5 34% -4.7 -8% FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Sustainable cash flow from operations, self sufficient for any further growth opportunities SAFETY SOCIETY ECO-FRIENDLY ENVIR
Slide 12: Net Cash Company
Net Cash Company Total Debt Cash & Cash Equivalents Net Cash 64.6 68.3 14.6 60.2 11.3 53.8 49.0 7.8 46.7 39.9 22.5 19.8 14.8 -6.8 -44.8 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 Net cash company despite of continuous acquisitions and expansion over the years SAFETY S
Slide 13: Pan India Distribution
Pan India Distribution Presence in key states and near to major raw material suppliers Multi-location Manufacturing facilities for efficient supplies Near to End-use market –Customer’s for fertilizers & crop protection from our 14 offices across India Strategic located manufacturing units offering n
Slide 14: Diversified Product mix
Diversified Product mix Dye Animal Health & Dyestuff Fertilisers Acid Complex Nutrition Intermediates • Gamma Acid • Single Super Phosphate • Reactive Black • K- Acid (SSP) • Sulphuric Acid • Reactive Red, • R-Salt • Soil Conditioner, • Oleum • Di- Calcium Phosphate • Vinyl Sulphone • Nitrogen Phosp
Slide 15: Turnaround of Acquisitions
Turnaround of Acquisitions Revenue(Rs. Revenue (Rs.in inCrs) Crs) ❖ Acquired 100% in 2020 +15% 70.1 ❖ Engaged in the manufacturing of Single Super 62.0 Phosphate 51.7 45.6 Madhya Bharat Phosphates Pvt Ltd ❖ Acquisition was primarily done to grow and (MBPPL) strengthen the “Shree Pushkar” brand in on
Slide 16: ESG Initiatives
ESG Initiatives 16
Slide 17: Environmental, Social & Governance
Environmental, Social & Governance Company reduced 11% of Company reduced 15% of •Carbon/ Green House Gas energy consumption over the coal consumption over the last 5 years last 5 years emissions reduction by 7% Renewable energy – Water usage reduction – Reduction of Plastic 5.2 MW solar plant proje
Slide 18: Environmental, Social & Governance
Environmental, Social & Governance An Initiative towards Conservation of Resource Reduction in Energy Conservation of Water Reduction in Plastic Hazardous/Toxic Waste Consumption Consumed Consumption Management • Installed a captive power plant based • Substandard acidic effluents by- • Currently pa
Slide 19: Environmental, Social & Governance
Environmental, Social & Governance Provides Maternity leaves, Group Insurance, PF system & Gratuity Schemes Holds regular fire drills & safety drills for the employees & laborer's of the factory. provision for first aid on every site, & people are trained in case of an emergency The site also has an
Slide 20: CSR Initiatives
CSR Initiatives SHREE PUSHKAR FOUNDATION SHREE PUSHKAR FOUNDATION (“the Foundation”) registered under the Bombay Public Trusts Act, 1950 and was established in 2019 with a vision to boosting our CSR initiatives Company undertakes various initiatives such as education for under privileged, health and
Slide 21: Company Overview
Company Overview 21
Slide 22: Shree Pushkar Chemicals & Fertilisers at a Glance
Shree Pushkar Chemicals & Fertilisers at a Glance SHREE PUSHKAR thrives to take care of the people and the environment and strongly believe in the concept of ‘True Sustainability’ • Started manufacturing Dye Intermediates in 2001 and dyes in 2016, These factors that make us truly sustainable have Fu
Slide 23: Journey so far
Journey so far Commenced Trading Backward integration Started Manufacturing Forward Integration Launched ‘Dyecol’ ✓ Importing of chemical ✓ Started Manufacturing in- Single Super Phosphate ✓ Up the product value chain ✓ Our Range of Reactive Dyes products and dye house raw material and (SSP) & Soil
Slide 24: Chemical Business
Chemical Business Acid Complex Dye Intermediates Dye stuff Compound capable of Single product in 2001 to over 10 Own established brand of neutralizing alkalis products now Reactive Dyes • One of the leading manufacturer of reactive dyes • Wide portfolio under one roof like H-Acid, VS, K- primarily u
Slide 25: Chemical Business: Capacity and Revenue from Operations
Chemical Business Capacity Build up (MTPA) Dye Stuff 22,000 Dye Intermediates 8,060 8,060 8,260 8,260 8,260 8,260 8,000 4,910 6,000 6,000 6,000 6,000 6,000 3,600 0 2015 2016 2017 2018 2019 2020 2021 2022E Dye Intermediates* (Rs. in Crs) Dye Stuff (Rs. in Crs) Total (Rs. in Crs) Revenue from Operatio
Slide 26: Fertiliser Business
Fertiliser Business Among the Top 5 manufacturer of SSP in India Fertilisers ▪ Portfolio consists of more than 15 types of different grades of Fertilizers ▪ Own distribution and dealership network mainly in the states of Haryana, Punjab, Rajasthan, Uttar Pradesh, Himachal Pradesh, Uttarakhand, Mahar
Slide 27: World class Manufacturing facilities
World class Manufacturing facilities Strategically Located Manufacturing Plants… Unit 1: Acids, Dye Unit 2: Fertilizers SSP, NPK & Unit 3: Reactive Dyes & Dye Unit 4: Fertilizers SOP Intermediates & Animal Health Soil Conditioners Intermediates & Calcium Chloride & Nutrition Unit 5: Dye Intermediari
Slide 28: R&D Breakthroughs
R&D Breakthroughs • Fully integrated, research based, innovative chemical and fertilizers manufacturing Company having our own Research and Development team working relentlessly towards product development • Strong R&D team who strive to make all the difference with their specialized skills and dedi
Slide 29: Well balanced forward & backward integrated plant
Well balanced forward & backward integrated plant • Effectively manages its raw material and ensures a constant Integrated supply of consistent quality due Cost Efficiencies & to its vertical business Chemical Company integration Operating Leverage • Forward & Backward integration ensures continuous
Slide 30: Certifications
Certifications • “Bluesign” accreditation, which is recognized amongst the best in the world and the Company has earned the status of “System Partner” international environmental guidelines Certifications complying with local and • The BlueSign system is the solution for a sustainable textile produc
Slide 31: Experienced Board of Directors
Experienced Board of Directors • Holds a Bachelor’s degree in Commerce from Mumbai University and has more • He holds a Bachelor’s degree in Electronics and Telecommunications from Mumbai than 2 decades of experience in the chemical industry and specializes in the University and Master’s degree in B
Slide 32: Key Management Team
Key Management Team Mr. Punit Makharia Mr. Gautam Makharia Mr. Deepak Beriwala Mr. Dilip Shah Mr. R Purohit Chairman & Managing Director Jt. Managing Director CFO GM – Export Import GM Marketing–Fertilizer First generation entrepreneur, BE in Electronics and MBA from Chartered Accountant & Company h
Slide 33: Our Core Strengths: Our Expertise
Our Core Strengths: Our Expertise Inorganic Growth Fast Paced Growth in Pan India Presence Dyestuffs Low Financial Cost Efficiencies Leverage Zero Waste Business Own Power Generation Model Internal Logistics Fleet SAFETY SOCIETY ECO-FRIENDLY ENVIRONMENTAL 33
Slide 34: Financial Performance
Financial Performance 34
Slide 35: FY21 Operational Highlights
FY21 Operational Highlights Chemicals Revenue(MT) Fertilisers EBIDTA(MT) Total PAT(MT) 20% 18% 18% 16,573 73,244 89,817 13,806 62,094 75,900 FY20 FY21 FY20 FY21 FY20 FY21 Despite slowdown in economic activities in H1FY21 amidst Covid 19 pandemic, we witnessed significant volume growth across Chemica
Slide 36: Q4FY21 Consolidated Financial Highlights
Q4FY21 Consolidated Financial Highlights Revenue (Rs. in Crs) Revenue EBIDTA (Rs. in Crs) EBIDTA PBT (Rs. PATin Crs) +31% +31% +59% 113.5 13.5 14.1 12.2 12.3 95.6 86.7 10.8 7.7 Q4FY20 Q3FY21 Q4FY21 Q4FY20 Q3FY21 Q4FY21 Q4FY20 Q3FY21 Q4FY21 Gross Profit Margins (%) EBIDTA Margins (%) PBT Margins (%)
Slide 37: FY21 Consolidated Financial Highlights
FY21 Consolidated Financial Highlights Revenue (Rs. in Crs) Revenue EBIDTA (Rs. in Crs) EBIDTA PBT (Rs. PATin Crs) +2.5% -14.1% -10.1% 346.3 354.9 50.3 39.9 43.2 35.9 FY20 FY21 FY20 FY21 FY20 FY21 Gross Profit Margins (%) EBIDTA Margins (%) PBT Margins (%) 38.1% 40.3% 14.5% 11.5% 12.2% 10.1% FY20 FY
Slide 38: Q4 & FY21 Consolidated Profit & Loss Statement
Q4 & FY21 Consolidated Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) Q4 FY21 Q4FY20 Y-o-Y Q3 FY21 Q-o-Q FY21 FY20 Y-o-Y Revenue from Operations 113.5 86.7 31.0% 95.6 18.8% 354.9 346.3 2.5% Cost of Materials Consumed 69.5 61.7 49.8 199.6 209.6 Changes in Inventories -0.6 -10.7 4.3 12.4 4
Slide 39: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) Mar-21 Mar-20 Mar-19 Mar-18 Mar-17 Revenue from Operations 354.9 346.3 451.9 395.3 305.9 Cost of Materials Consumed 199.6 209.6 290.0 295.9 217.6 Changes in Inventories 12.4 4.8 12.6 -23.8 -5.4 Gross Profit 142.9 131.9 149.3 123
Slide 40: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (Rs. in Crs) Mar-21 Mar-20 Mar-19 Mar-18 Mar-17 Assets Mar-21 Mar-20 Mar-19 Mar-18 Mar-17 Equity Share Capital 30.8 30.8 30.7 30.2 30.2 Property, Plant and Equipment 169.7 158.7 167.3 161.4 123.1 Other Equity 308.1 275.4 253.7 206.9 162.8 Capital Work-
Slide 41: Cash Flow Statement
Cash Flow Statement Cash Flow Statement Mar-21 Mar-20 Mar-19 Mar-18 Mar-17 Cash Flow from Operating Activities Profit before Tax 35.9 40.0 55.8 52.2 46.0 Adjustment for Non-Operating Items 7.7 10.7 11.0 9.5 5.9 Operating Profit before Working Capital Changes 43.5 50.7 66.9 61.7 51.9 Changes in Worki
Slide 42: Thank You
Thank You Company : Investor Relations Advisors : Shree Pushkar Chemicals & Fertilisers Limited Orient Capital (a division of Link Group) CIN: L24100MH1993PLC071376 Ms. Neha Shroff: +91 77380 73466 Mr. Deepak Beriwala- CFO neha.shroff@linkintime.co.in deepak@shreepushkar.com Mr. Sagar Shroff: +91 98
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