Kiri Industries Limited · NSE:KIRIINDUS
Kiri Industries — H1 FY19 Earnings Presentation
25 slides from Kiri Industries's earnings presentation, Nov 12, 2018
Slide 1: Kiri Industries Limited
CD Kiri Industries Limited ~{i:ft~ C~~ .... November 12, 2018 To, To, BSE Limited National Stock Exchange of India Limited 1't Floor, Rotunda Building, Exchange Plaza, Bandra Kurla Complex, B.S. Marg, Fort, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 532967 Scrip 10 - KIRIINOUS Dear Si
Slide 2: H1/Q2-FY19 Earnings Presentation
Kiri Industries Limited H1/Q2-FY19|EARNINGS PRESENTATION
Slide 3: Company Overview
2 Company Overview • Established in 1998, Kiri Industries Limited (KIL), Consolidated Revenue Break-up (INR Mn) is based out of Gujarat and has emerged as one 4,517 of the largest manufacturers and exporters of a 4,722 3,681 wide range of Dyes, Dyes Intermediates and 4,117 Basic Chemicals from India
Slide 4: About DyStar
3 About DyStar KIL had acquired DyStar in 2010 along with Zhenjiang Longsheng presently holding 37.57%. • The DyStar Group is a leading dyestuff and chemical manufacturer and solution provider, offering a broad portfolio of colorants, specialty chemicals, and services to customers across the globe.
Slide 5: History
4 History DyStar was founded in 1995 as a joint venture between Hoechst AG and Bayer Textile Dyes. In 2000, the textile dyes business from BASF was integrated. In February 2010, DyStar Group was acquired by Kiri Industries Limited (KIL) ACQUISITION: DyStar
Slide 6: Value Unlocking in DyStar
5 Value Unlocking in DyStar Successfully turning around the operations of DyStar. • The turn around plan was successfully executed by replacing high cost German manufacturing base with low cost manufacturing in India, China and Indonesia etc • KIL is entitled to profit share of INR 826 Mn, INR 1,976
Slide 7: H1/Q2-FY19 Financial Highlights
6 H1/Q2-FY19 Financial Highlights Q2-FY19 Financial Highlights (Standalone) H1-FY19 Financial Highlights (Standalone) • Total Revenue: INR 2,833 Mn • Total Revenue: INR 5,241 Mn • EBITDA: INR 492 Mn • EBITDA: INR 916 Mn • EBITDA Margin: 17.37% • EBITDA Margin: 17.48% • Net Profit: INR 409 Mn • Net P
Slide 8: Q2-FY19 Operational Highlights
7 Q2-FY19 Operational Highlights • In Q2-FY19, at the consolidated level, the company reported a top line of INR 3730 Mn, up 39% Y-o-Y and up 12% Q-o-Q, driven by a strong 24% Y-o-Y sales growth at the standalone level coupled with strong sales reported by its joint venture and subsidiary company. •
Slide 9: Q2-FY19 Operational Highlights
8 Q2-FY19 Operational Highlights • The company is focused on generating shareholder value through non-dilutive growth and free cash generation at sustainable returns on capital. • The Company won a landmark judgement in the SICC in its minority oppression suit against Longsheng Group, China, in July
Slide 10: Q2-FY19 Standalone Income Statement
9 Q2-FY19 Standalone Income Statement PARTICULARS (INR Mn) Q2-FY19 Q2-FY18 Y-o-Y Q1-FY19 Q-o-Q Total Income* 2,833 2,281 24.2% 2,408 17.6% Total Expenses 2,341 1,894 23.6% 1,983 18.1% EBITDA 492 387 27.1% 425 15.8% EBITDA Margin 17.37% 16.97% 40 Bps 17.65% (28) Bps Depreciation 66 59 11.9% 60 10.0%
Slide 11: Quarterly - Standalone Financial Highlights
10 Quarterly - Standalone Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 2,833 3,000 600 492 2,281 387 2,000 400 1,000 200 0 0 Q2 FY-18 Q2 FY-19 Q2 FY-18 Q2 FY-19 PAT (INR Mn) EBITDA Margin & PAT Margin 500 20.00% 16.97% 17.37% 409 400 15.00% 301 14.44% 300 13.20% 10.00% 200 5.00% 100 0
Slide 12: H1-FY19 - Standalone Income Statement
11 H1-FY19 - Standalone Income Statement PARTICULARS (INR Mn) H1-FY19 H1-FY18 Y-o-Y Total Income* 5,241 4,672 ** 12.2% Total Expenses 4,325 3,907 ** 10.7% EBITDA 916 765 19.7% EBITDA Margin 17.48% 16.37% 111 Bps Depreciation 126 117 7.7% Finance Cost 21 5 320.0% PBT 769 643 19.6% Tax 9 39 (76.9)% Pr
Slide 13: Half Yearly - Standalone Financial Highlights
12 Half Yearly - Standalone Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 5,400 5,241 950 916 5,200 900 5,000 850 4,800 4,672 800 765 4,600 750 4,400 700 4,200 650 H1 FY-18 H1 FY-19 H1 FY-18 H1 FY-19 PAT (INR Mn) EBITDA Margin & PAT Margin 760 800 604 20.00% 16.37% 17.48% 600 15.00% 40
Slide 14: Q2-FY19 - Consolidated Income Statement
13 Q2-FY19 - Consolidated Income Statement PARTICULARS (INR Mn) Q2-FY19 Q2-FY18 Y-o-Y Q1-FY19 Q-o-Q Total Income* 3,734 2,682 39.2% 3,338 11.9% Total Expenses 3,001 2,192 37.0% 2,657 12.9% EBITDA 733 490 49.6% 681 7.6% EBITDA Margin 19.63% 18.27% 136 Bps 20.40% (77)Bps Depreciation 88 78 12.8% 83 6.
Slide 15: Quarterly - Consolidated Financial Highlights
14 Quarterly - Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 4,000 3,734 800 733 3,000 2,682 600 490 2,000 400 1,000 200 0 0 Q2 FY-18 Q2 FY-19 Q2 FY-18 Q2 FY-19 PAT (INR Mn) EBITDA Margin & PAT Margin 600 539 500 25.00% 19.63% 400 352 18.27% 20.00% 300 15.00% 200 13.12% 14
Slide 16: H1-FY19 - Consolidated Income Statement
15 H1-FY19 - Consolidated Income Statement PARTICULARS (INR Mn) H1-FY19 H1-FY18 Y-o-Y Total Income* 7,072 5,595 ** 26.4% Total Expenses 5,659 4,640 ** 22.0% EBITDA 1,413 955 48.0% EBITDA Margin 19.98% 17.06% 292 Bps Depreciation 170 155 9.7% Finance Cost 26 20 30.0% PBT 1,217 780 56.0% Tax 172 83 10
Slide 17: Half Yearly - Consolidated Financial Highlights
16 Half Yearly - Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) 7,072 1,413 8,000 1,500 5,595 6,000 955 1,000 4,000 500 2,000 0 0 H1 FY-18 H1 FY-19 H1 FY-18 H1 FY-19 PAT (INR Mn) EBITDA Margin & PAT Margin 1,500 1,045 25.00% 19.98% 20.00% 17.06% 1,000 697 15.00% 14.78% 500
Slide 18: Standalone Income Statement
17 Standalone Income Statement PARTICULARS (INR Mn) FY14 FY15 FY16 FY17 FY18 Total Income* 5,839 7,826 8,967 10,355 9,046 Total Expenses 5,219 7,116 8,064 9,059 7,712 EBITDA 620 710 903 1,296 1,334 EBITDA Margin 10.62% 9.07% 10.07% 12.52% 14.75% Depreciation 335 202 204 222 250 Finance Cost 773 844
Slide 19: Standalone Balance sheet
18 Standalone Balance sheet PARTICULARS (INR Mn) FY17 FY18 H1-FY19 PARTICULARS (INR Mn) FY17 FY18 H1-FY19 Equity 3,941 5,109 5,868 Non Current Assets 5,289 5,424 5,778 Equity Share Capital 278 302 313 a) Property, Plant and Equipment 3,048 3,485 3,419 Other Equity 3,663 4,807 5,555 b) Other Intangib
Slide 20: Consolidated Income Statement
19 Consolidated Income Statement PARTICULARS (INR Mn) FY14 FY15 FY16 FY17 FY18 Total Income* 6,921 9,328 10,427 12,007 11,368 Total Expenses 6,186 8,313 9,173 10,393 9,542 EBITDA 735 1,015 1,254 1,614 1,826 EBITDA Margin 10.62% 10.88% 12.03% 13.44% 16.06% Depreciation 366 284 269 291 341 Finance Cos
Slide 21: Consolidated Balance sheet
20 Consolidated Balance sheet PARTICULARS (INR Mn) FY17 FY18 H1-FY19 PARTICULARS (INR Mn) FY17 FY18 H1-FY19 Equity 10,324 14,047 16,018 Non Current Assets 11,615 14,156 15,391 Equity Share Capital 278 302 313 a) Property, Plant and Equipment 3,668 4,033 3,934 Other Equity 10,046 13,745 15,705 b) Oth
Slide 22: Consolidated Financial Highlights
21 Consolidated Financial Highlights Total Revenue (INR Mn) EBITDA (INR Mn) & PAT(INR Mn) & PAT Margins EBITDA Margins 31.49% 12,007 16.06% 22.12% 11,368 13.44% 12.03% 18.77% 10,427 1,254 1,614 1,826 1,957 2,656 3,580 FY16 FY17 FY18 FY16 FY17 FY18 FY16 FY17 FY18 RoE and RoCE Net Debt : Equity Net Wo
Slide 23: Capital Markets
22 Capital Markets Share Price Data as on 30th Sept, 2018 100% Kiri industries Ltd. Sensex 50% 0% Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Price Data (30th Sept, 2018) INR Shareholding Pattern as on 30th Sept, 2018 Face Value 10.00 Market Price 503.15 Publi
Slide 24: Disclaimer
23 Disclaimer Kiri Industries Limited Disclaimer: The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable laws and regulations as amended from time to time. There is no representation that a
Slide 25: Thank You
THANK YOU