Dwarikesh Sugar Industries Ltd. · NSE:DWARKESH
Dwarikesh Sugar Industries — Q1 FY24 Earnings Presentation
29 slides from Dwarikesh Sugar Industries's earnings presentation, Jul 24, 2023
Slide 1: Regulation 30 disclosure cover letter
DWARIKESH SUGAR INDUSTRIES LIMITED Corp. off.; 511, Maker Chambers V, 221, Nariman Point, Mumbai – 400021. Tel.: 2283 2486, 2204 2945, Fax: 2204 7288 E Mail: dsilbom@dwarikesh.com Website: www.dwarikesh.com, CIN: L15421UP1993PLC018642 REF: DSIL/2023-24/144 July 24, 2023 Corporate Relationship Depart
Slide 2: Investor Presentation: Q1FY24 Results
INVESTOR PRESENTATION C O M PA N Y P E R F O R M A N C E Q1FY24 Results 24 July 2023
Slide 3: Safe Harbor Statement
SAFE HARBOR STATEMENT This presentation and the accompanying slides (the “Presentation”), which have been prepared by Dwarikesh Sugar Industries Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscr
Slide 4: Earnings Call
EARNINGS CALL Time and Date 3:00 PM IST, Tuesday, July 25, 2023 Conference Dial-In +91 22 6280 1116/+91 22 7115 8017 International Toll Free UK 08081011573 USA 18667462133 Hong Kong 800964448 Singapore 8001012045 Diamond Pass: Diamond Pass Registration (choruscall.in) Earnings Call Investor Presenta
Slide 5: Table of contents
Table of contents Sector outlook 05 Business overview 07 Financial performance 12 Operational trends 17 Pictures of our facilities 22
Slide 6: Sector Outlook
SECTOR OUTLOOK For SS 2022-23, there was an initial estimation of 4 million tons of global sugar surplus. However, it is now has become increasingly clear that eventually there may only be a minuscule surplus The experts have once again estimated a surplus of 4.8 million tons for SS 2023-24. El-Nino
Slide 7: Sector Outlook (continued)
Continued.. As per the initial estimates drawn by some trade houses it is expected that 34.2 million tons of sugar will be produced during SS 2023-24 in India, after factoring for diversion of 4.7 million tons in favor of ethanol. The 10% blending target was achieved in ESY 2021-22, and it is expect
Slide 8: Business Overview
BUSINESS OVERVIEW 02
Slide 9: At a Glance
AT A GLANCE Capacity Dwarikesh Dwarikesh Dwarikesh Aggregate Nagar Puram Dham Sugar (TCD) 6,500 7,500 7,500 21,500 Cogeneration 96 22 33 41 (MW) (Surplus: c. 56) Distillery (LPD) 1,62,500 - 1,75,000 3,37,500 • Three plants located in Uttar Pradesh, one of India’s largest sugar producing states ⚬ Two
Slide 10: Operations Overview
OPERATIONS OVERVIEW Farmers Molasses (nearly 1.54 lakhs) (External Sales) Industrial Alcohol Cane Development & (162.5 KLPD at Dwarikesh Sugarcane Molasses Distillery Marketing Nagar & 175 KLPD at Dwarikesh Dham) Crushing Clarification Sugar Dwarikesh Sugar (3 facilities) Sugarcane Juice Evaporation
Slide 11: Management
MANAGEMENT G R Morarka Vijay S BJ Banka Maheshwari ⚬ Founder and Promoter ⚬ Managing Director ⚬ Managing Director & Company ⚬ Executive Chairman Commerce graduate ⚬ Chartered Accountant Secretary cum Chief Compliance & ICWA Inter ⚬ Associated with the Officer ⚬ Received ‘Indira Gandhi Priyadarshini
Slide 12: Key Milestones
KEY MILESTONES Set up DN Distillery with 30,000 LPD Debottlenecking of DN capacity; 100 KLPD Distillery Distillery by capacity expansion Commissioned Dwarikesh Puram Commencement of DN Crushing capacity commissioning project successfully (DP) plant with crushing capacity of surplus power supply reac
Slide 13: Financial Performance Q1FY24
FINANCIAL PERFORMANCE Q1FY24
Slide 14: Performance Highlight
PERFORMANCE HIGHLIGHT In INR million Q1FY24 Q1FY23 FY23 Total Income 5,715.4 6,484.2 21,170.0 EBIDTA 773.9 752.3 2,285.7 PAT 406.2 397.0 1,048.1 In INR Q1FY24 Q1FY23 FY23 EPS 2.16 2.11 5.57 During Q1 FY23, depreciation has been suitably adjusted to exclude amounts pertaining to pre-operative & trial
Slide 15: Quarterly Trends
QUARTERLY TRENDS Revenue from Operations (Million) EBITDA (Million) PAT (Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin PAT Margin 13.5% 7.1% 3608.2 11.6% 6.1% 3457.2 6464.6 752.4 773.9 5712.1 397.0 406.2 Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24 PAT Margin is PAT / Revenue fr
Slide 16: Financials Summary
FINANCIALS SUMMARY INCOME Q1 FY 24 Q1 FY 23 FY 23 REMARKS Lower during the quarter on account of lesser volume of sugar Revenue from operations 5,712.1 6,464.6 21,029.6 sold Other income 3.3 19.5 140.4 -- Total Revenue 5,715.4 6,484.1 21,170.0 -- EXPENDITURE Higher on account of higher volume of sug
Slide 17: Financials Summary (continued)
FINANCIALS SUMMARY (continued) INCOME Q1 FY 24 Q1 FY 23 FY 23 REMARKS Higher on account of depreciation in respect of DD distillery unit. Depreciation and amortization expense 128.0 107.9 502.3 (Commenced operations during Q2 FY23) Other expense 330.6 340.8 1,372.0 -- Preoperative & trial period cap
Slide 18: Operational Trends
OPERATIONAL TRENDS
Slide 19: Sugar Business Highlights
SUGAR BUSINESS HIGHLIGHTS ▪ Crushing during Q1 FY 24 is up by 24 % at 98.51 lakh quintals as compared to 79.42 lakh quintals during Q1 FY 23. ▪ Sugar production during Q1 FY 24 is 8.97 lakh quintals as compared to 8.96 lakh quintal during Q1 FY 23. In spite of higher cane crushing during the quarter
Slide 20: Sugar Business - Snapshot
SUGAR BUSINESS - SNAPSHOT Revenue from Operations (INR Million) Sugar Sold ('000 Quintal) EBITDA (INR Million) Average Domestic Sugar Realization INR/Quintal EBITDA Margin 7.4% 3608.2 6.1% 456.9 298.9 3457.2 1529.2 970.3 6209.7 4933.7 Q1FY23 Q1FY24 Q1FY23 Q1FY24 EBITDA Margin is EBITDA / Revenue fro
Slide 21: Cogeneration Business
COGENERATION BUSINESS HIGHLIGHTS Power Generated (Mn Unit) ▪ Power revenue during the quarter is up by 20% at ₹ 11.18 crore as Power Exported (Mn Unit) compared to ₹ 9.32 crore during the corresponding quarter, last year. Average Realization (INR/Unit) Higher revenue is attributable to extended crus
Slide 22: Distillery Operations
DISTILLERY OPERATIONS HIGHLIGHTS ▪ On Q o Q basis, sale volume of Industrial Alcohol is up by 94% and revenue up by 106% mainly on account of optimal utilization of the distillery capacities at the distilleries attached to DN & DD sugar units ▪ Of the 303.54 lakhs litres of ethanol sold during Q1 FY
Slide 23: Pictures of Our Facilities
PICTURES OF OUR FACILITIES
Slide 24: Dwarikesh Nagar Unit (Bijnor District)
DWARIKESH NAGAR UNIT (BIJNOR DISTRICT) Sugar plant overview Distillation house & multi-effect evaporator Bagasse silos & feeders of boiler Continuous pan
Slide 25: Dwarikesh Puram Unit (Bijnor District)
DWARIKESH PURAM UNIT (BIJNOR DISTRICT) Juice evaporator Centrifugal station Cogeneration control panel Switch yard
Slide 26: Dwarikesh Dham Unit (Bareilly District)
DWARIKESH DHAM UNIT (BAREILLY DISTRICT) Facility overview 24 MW TG set Pan station Clarification section
Slide 27: Dwarikesh Nagar Distillery (Bijnor District)
DWARIKESH NAGAR DISTILLERY (BIJNOR DISTRICT) 162.5 KLPD distillery
Slide 28: Dwarikesh Dham Distillery (Bareilly District)
DWARIKESH DHAM DISTILLERY (BAREILLY DISTRICT) 175 KLPD distillery
Slide 29: Thank You
THANK YOU Vijay S. Banka Rashi Sanghi Managing Director (DSIL) Adfactors PR Pvt. Ltd. Email: vsbanka@dwarikesh.com Email: rashi.sanghi@adfactorspr.com
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