Dcm Shriram Limited · NSE:DCMSHRIRAM
Dcm Shriram — Q2 FY21 Earnings Presentation
30 slides from Dcm Shriram's earnings presentation, Oct 20, 2020
Slide 1: Q2 & H1 FY21 - Results Presentation
DCM Shriram Ltd. Q2 & H1 FY21 - Results Presentation October 20, 2020 1
Slide 2: Safe Harbour
Safe Harbour Certain statements in this document may be forward-looking. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results t
Slide 3: Table of Content
Table of Content Title Slide No. Q2 FY20 Key Highlights 4 Returns & Leverage 7 Financial Snapshot 8 Segment Performance 9 H1 FY20 Key Highlights 10 Financial Snapshot 12 Segment Performance 13 Management’s Message 14 Segmental Details Chloro-Vinyl Businesses 16-20 Sugar 21-23 Agri Input Businesses 2
Slide 4: Q2 FY21 - Key Highlights
Q2 FY21 - Key Highlights 1. Net Revenues up 17% at Rs 2,047 crs vs Rs 1,753 crs in Q2’FY20 a) The revenues (vs Q2 FY’20) were positively impacted by: i. Overall sugar business revenues up 89% YoY at Rs 830 crs led by volumes: Sugar volumes up 74% YoY including exports of 5 lac qtls. Higher Disti
Slide 5: Q2 FY21 - Key Highlights
Q2 FY21 - Key Highlights 2. PBDIT at Rs 240 crs vs Rs 243 crs during Q2 FY20. Excluding the one time impact of -ve Rs. 27 crs. in Sugar (explained below), the PBDIT is Rs. 267 crs. a) Earnings were driven by: i. Sugar PBDIT (excl the one time impact) is at Rs 85 crs. vs Rs. 42 crs. in Q2 FY’20. Ea
Slide 6: Q2 FY21 - Key Highlights
Q2 FY21 - Key Highlights 5. Net Debt at 30th Sep, 2020 at Rs 242 crs vs Rs 983 crs at 30th Sep, 2019 and Rs 1,167 crs at 30th June, 2020. 6. ROCE declined YoY as a result of Covid-19 impact on earnings as well as lower prices of Caustic Soda in Chemical business. 7. Projects – Company has started wo
Slide 7: Q2 FY21 - Financial Snapshot
Q2 FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 2,047 1,753 243 240 53 60 Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 PBIT Finance Cost PAT 190 180 119 119 42 26 Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Note: All figures in Rs. crs Net revenue includes operating income DCM S
Slide 8: Q2 FY21 - Returns & Leverage
Q2 FY21 - Returns & Leverage PBDIT to Net Sales Net Debt/ EBITDA 1.25 16.7% 13.9% 11.7% 0.70 0.22 FY20 Q2 FY20 Q2 FY21 FY20 Q2 FY20 Q2 FY21 ROCE Capital Employed 25.6% 5,896 19.5% 4,543 4,686 15.1% Rs Cr FY20 Q2 FY20 Q2 FY21 FY20 Q2 FY20 Q2 FY21 Note : ROCE and Net Debt/ EBITDA Calculated on TTM bas
Slide 9: Q2 FY21 - Segment Performance
Q2 FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Q2 FY20 Q2 FY21 Change Change Chemicals 426.8 351.6 (17.6) 139.1 73.7 (47.0) 32.6 21.0 Plastics 136.6 171.3 25.3 33.4 48.1 44.2 24.4 28.1 Sugar 439.2 830.0 89.0 26.8 39.1 45.9 6.1 4
Slide 10: H1 FY21 - Key Highlights
H1 FY21 - Key Highlights 1. Net Revenues up 8% YoY at Rs 3,959 crs. a) Impact of Covid-19 on revenue in Q1 FY 21 was ~ Rs. 350 crs led by volumes, this has recovered significantly in Q2 FY’21 b) Overall sugar business revenues up 85% YoY at Rs 1,707 crs driven by: i. Sugar volumes up 76% YoY. This i
Slide 11: H1 FY21 - Key Highlights
H1 FY21 - Key Highlights 2. PBDIT down 30% at Rs 432 crs: a) Chemicals PBDIT down 64% YoY at Rs 155 crs impacted by lower prices and volumes due to Covid 19. Sequentially PBDIT increased from Rs 61 crs. in Q1 to Rs. 94 crs. in Q2 b) Plastics PBDIT up 8% YoY at Rs 60 crs. Sequentially, PBDIT increase
Slide 12: H1 FY21 - Financial Snapshot
H1 FY21 - Financial Snapshot Revenue (Net) PBDIT Depreciation 3,655 3,959 119 617 103 432 H1 FY20 H1 FY21 H1 FY20 H1 FY21 H1 FY20 H1 FY21 PBIT Finance Cost PAT 514 340 313 79 69 188 H1 FY20 H1 FY21 H1 FY20 H1 FY21 H1 FY20 H1 FY21 Note: All figures in Rs. crs Net revenue includes operating income DCM
Slide 13: H1 FY21 - Segment Performance
H1 FY21 - Segment Performance Rs crs Revenues PBIT PBIT Margins % YoY % YoY % Segments H1 FY20 H1 FY21 H1 FY20 H1 FY21 H1 FY20 H1 FY21 Change Change Chemicals 978.5 585.5 (40.2) 389.6 113.9 (70.8) 39.8 19.5 Plastics 276.5 253.0 (8.5) 49.6 51.2 3.2 18.0 20.2 Sugar 921.0 1,707.4 85.4 99.4 110.9 11.5 1
Slide 14: Management's Message
Management’s Message Commenting on the performance for the quarter and half year ending September 2020, in a joint statement, Mr. Ajay Shriram, Chairman & Senior Managing Director, and Mr. Vikram Shriram, Vice Chairman & Managing Director, said: “The operating as well as financial performance of the
Slide 15: Segmental Details
Segmental Details • Caustic Soda (1,845 TPD) • Aluminum Chloride (60 TPD) Chloro-Vinyl Businesses • PVC Resins (220 TPD) • Calcium carbide (112,000 TPA) • Agri- Businesses o Sugar (38,000 TCD) o Co-Gen (155 MW) Agri o Distillery (350 KLD) Businesses o Shriram Farm Solutions o Bioseeds o Fertilizers
Slide 16: Chloro Vinyl Business
Chloro Vinyl Business PBIT Cap. Employed Particulars Revenues (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q2 FY21 522.9 121.8 1,468.8 Q2 FY20 563.5 172.5 1,487.9 % Shift (7.2) (29.4) (1.3) H1 FY21 838.5 165.2 1,468.8 H1 FY20 1,255.0 439.3 1,487.9 % Shift (33.2) (62.4) (1.3) The Chloro-Vinyl business of the Compan
Slide 17: Chemicals
Chemicals Operational Financial Caustic Sales ECU Realizations Revenues PBIT Particulars PBIT Margin % (MT) (Rs./MT) (Rs Cr.) (Rs. Cr.) Q2 FY21 130,089 20,387 351.6 73.7 21.0 Q2 FY20 135,306 26,748 426.8 139.1 32.6 % Shift (3.9) (23.8) (17.6) (47.0) (35.7) H1 FY21 212,148 20,954 585.5 113.9 19.5 H1
Slide 18: Chemicals
Chemicals During Q2 2020-21, caustic soda imports were 0.61 lac MT compared to 0.80 of CPLY. During Q2 2020-21, caustic soda exports from India were 0.49 lac MT compared to 0.38 lac MT in CPLY (increase of ~29%). Exports have been growing. Industry Domestic Industry is currently operating at a
Slide 19: Plastics
Plastics Operational Financial PVC XWR Carbide XWR PVC Sales Carbide Sales Revenues PBIT Particulars Realizations Realizations PBIT Margin % (MT) (MT) (Rs Cr.) (Rs. Cr.) (Rs./MT) (Rs./MT) Q2 FY21 16,917 81,185 5,184 55,526 171.3 48.1 28.1 Q2 FY20 13,958 74,585 4,959 56,553 136.6 33.4 24.4 % Shift 21
Slide 20: Plastics
Plastics Net revenue for Q2 FY21 up 25% YoY at Rs 171 crs. PVC volumes up 21% YoY and carbide volumes up 5% YoY. PVC prices up 9% YoY, whereas, carbide prices down 2% YoY. PVC prices have shown positive trend since May’20 in line with international prices. Plant has reached normal level of opera
Slide 21: Sugar
Sugar Particulars Revenues (Rs. Cr.) PBIT (Rs. Cr.) PBIT Margin % Cap. Employed (Rs. Cr.) Q2 FY21 830.0 39.1 4.7 1,928.8 Q2 FY20 439.2 26.8 6.1 2,035.1 % Shift 89.0 45.9 (22.8) (5.2) H1 FY21 1,707.4 110.9 6.5 1,928.8 H1 FY20 921.0 99.4 10.8 2,035.1 % Shift 85.4 11.5 (39.8) (5.2) Capital employed inc
Slide 22: Sugar
Sugar Sugar Sugar Power Distillery Distillery Sugar Sales Distillery Production (Domestic) Power Sales Realizations Realizations - Realizations - Particulars (Domestic) Sales (Lac Qtls) Realizations (Lac Units) (Rs/ unit) B Heavy C Heavy (Rs/ (Lac Qtls) (Lac Ltrs) (Rs/Qtl) (Lac Units) (Rs/ Ltrs) Ltr
Slide 23: Sugar
Sugar Q2 FY21 Overall sugar revenues up 89% YoY at Rs 830 crs led by: Higher Sugar volumes, up 74% YoY including exports of 5 lac qtls. Higher Distillery volumes by 153% YoY. Second Distillery of 200 KLD capacity commissioned Q3 FY20 led to higher volume Overall PBIT for the quarter (excl on
Slide 24: Shriram Farm Solutions
Shriram Farm Solutions Revenues PBIT Cap. Employed Particulars PBIT Margin % (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q2 FY21 189.0 21.5 11.4 (18.4) Q2 FY20 159.5 8.2 5.1 140.5 % Shift 18.5 162.8 121.7 - H1 FY21 398.5 38.9 9.8 (18.4) H1 FY20 356.5 12.9 3.6 140.5 % Shift 11.8 201.2 169.5 - The products includes
Slide 25: Bioseed
Bioseed Revenues (Rs. Cr.) PBIT Cap. Employed Particulars PBIT Margin % India International Total (Rs. Cr.) (Rs. Cr.) Q2 FY21 73.8 33.6 107.4 5.6 5.2 433.4 Q2 FY20 100.0 17.4 117.4 5.4 4.6 511.1 % Shift (26.2) 93.5 (8.5) 5.4 15.2 (15.2) H1 FY21 241.1 66.5 307.7 53.4 17.4 433.4 H1 FY20 236.5 51.4 287
Slide 26: Fertilizers (Urea)
Fertilizers (Urea) Operational Financial Cap. Sales Realizations Revenues PBIT Particulars PBIT Margin % Employed (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) (Rs. Cr.) Q2 FY21 108,986 18,892 218.9 15.2 7.0 541.9 Q2 FY20 109,600 25,150 281.5 15.1 5.4 444.3 % Shift (0.6) (24.9) (22.2) 0.9 29.7 22.0 H1 FY21 204,
Slide 27: Other Businesses
Other Businesses The ‘Others’ Segment in the financial results, includes Cement, Fenesta Building Systems and Hariyali Kisaan Bazaar. Revenues under ‘Others’ stood at Rs 188 crs in Q2 FY21 from Rs. 207 crs in Q2 FY20. PBIT for the quarter stood at . Rs. 14 crs vis-à-vis Rs. 24 crs in Q2 FY20. DCM Sh
Slide 28: Fenesta Building Systems
Fenesta Building Systems Operational Financial Order Book (Rs Crs) Revenues Particulars PBIT PBIT Margin % Retail Projects Total Total Q2 FY21 72.4 46.6 119.0 93.0 11.3 12.2 Q2 FY20 84.9 24.0 108.9 118.9 20.2 17.0 % Shift (14.7) 94.1 9.3 (21.8) (44.1) (28.5) H1 FY21 106.8 58.5 165.4 133.4 1.8 1.4 H1
Slide 29: Cement
Cement Operational Financial Sales Realizations Revenues PBIT PBIT Margin % Particulars (MT) (Rs./MT) (Rs. Cr.) (Rs. Cr.) Q2 FY21 107,779 3,566 47.1 3.3 6.9 Q2 FY20 90,514 3,482 39.9 3.2 7.9 % Shift 19.1 2.4 18.1 2.8 (12.9) H1 FY21 177,424 3,671 78.4 5.8 7.3 H1 FY20 203,032 3,553 87.7 7.2 8.2 % Shif
Slide 30: About Us & Investor Contacts
About Us & Investor Contacts DCM Shriram Ltd. is an integrated business entity, with extensive and growing presence across the entire Agri value chain and Chloro-Vinyl industry. The Company has added innovative value- added businesses in these domains primarily Bioseed and Fenesta. Access to captive