Camlin Fine Sciences Limited · NSE:CAMLINFINE
Camlin Fine Sciences — Q4 FY2019 Earnings Presentation
27 slides from Camlin Fine Sciences's earnings presentation, May 25, 2019
Slide 1: Intimation to stock exchanges under SEBI Regulation 30
Date: 25/05/2019 To, To, BSE Limited, The Manager, 25, P. J. Towers, Listing Department, Dalal Street, National Stock Exchange of India Ltd., Mumbai – 400 001 Exchange Plaza, Bandra Kurla Complex, Ref: Company Scrip Code: 532834 Bandra (East), Mumbai- 400051 Ref: Symbol: CAMLINFINE || Series: EQ Sub
Slide 2: Earnings Presentation Q4-FY19 / FY19
EARNINGS PRESENTATION Q4-‐FY19 / FY19
Slide 3: Executive Summary
2 Executive Summary 2 Company Overview Financials FY19 (INR Mn) • Camlin Fine Sciences Limited (CFS), formed in 2006 after demerging the fine chemical business from Camlin Ltd., is a vertically integrated company Revenue engaged in research, development, manufacturing, commercializing and marketing
Slide 4: Snapshot
3 Snapshot One of the few Leading Manufacturers of vertically and Antioxidants in the world 3rd largest producer of backward with more than 30 years of Vanillin in the world integrated players experience Strategic move to start Serving more than 80 blends which have higher countries with over Prefer
Slide 5: About the Company
4 About the Company • In 2006, Camlin Fine Sciences Limited (CFS) was formed after de-‐merging (mirror Total Operational Revenue (INR Mn) shareholding) the fine chemical business from Camlin Ltd. 10,000 8,992 • The Company has over 30 years of experience providing innovative solutions with a 8,000
Slide 6: Q4-FY19 / FY19 Financial Overview
5 Q4-‐FY19 / FY19 FINANCIAL OVERVIEW
Slide 7: Q4-FY19 Standalone Income Statement (Ind-AS)
6 Q4-‐FY19 Standalone Income Statement (Ind-‐AS) Income Statement (Mn) Q4-‐FY19 Q4-‐FY18 Y-‐o-‐Y Q3-‐FY19 Q-‐o-‐Q Operational Revenue 1,715 1,282 33.8% 1,499 14.4% Total Expenses 1,629 1,171 39.1% 1,576 3.4% Operational EBITDA* 123 111 10.8% 28 339% Operational EBITDA Margins (%) 7.19% 8.64
Slide 8: FY19 Standalone Income Statement (Ind-AS)
7 FY19 Standalone Income Statement (Ind-‐AS) Particulars (INR Mn) FY19 FY18 Y-‐o-‐Y Operational Revenue 5,481 4,050 35.3% Total Expenses 5,153 3,996 28.9% Operational EBITDA* 328 54 NA Operational EBITDA Margins (%) 5.98% 1.33% 465 Bps Other Income 108 92 (17.4)% Depreciation 91 91 -‐ Finance Co
Slide 9: Q4-FY19 Consolidated Income Statement (Ind-AS)
8 Q4-‐FY19 Consolidated Income Statement (Ind-‐AS) Income Statement (INR Mn) Q4-‐FY19 Q4-‐FY18 Y-‐o-‐Y Q3-‐FY19 Q-‐o-‐Q Operational Revenue 2,680 2,317 15.7% 2,414 11.0% Total Expenses 2,512 2,213 13.5% 2,260 11.2% Operational EBITDA* 214 106 102% 208 2.9% Operational EBITDA Margins (%) 7.9
Slide 10: FY19 Consolidated Income Statement (Ind-AS)
9 FY19 Consolidated Income Statement (Ind-‐AS) Income Statement (INR Mn) FY19 FY18 Y-‐o-‐Y Operational Revenue 8,922 7,228 23.4% Total Expenses 8,235 7,073 16.4% Operational EBITDA* 693 156 NA Operational EBITDA Margins (%) 7.77% 2.16% 561 Bps EBITDA 687 155 343.2% EBITDA Margins (%) 7.70% 2.14%
Slide 11: Country Overview
10 10 COUNTRY OVERVIEW
Slide 12: CFS India
11 CFS India • R&D Centre at Tarapur that has developed many new Diphenol-‐downstream products • Shelf Life Solutions Development, Testing and Applications Lab at Mumbai that works on testing food formulations and blends for the food, pet food and animal nutrition industries • Provides technical ex
Slide 13: Update on Dahej Project
12 Update on Dahej Project Work / Activities completed • Financial Closing achieved • Basic Process & Mechanical Equipment Engineering • Long lead equipment (process & utility) as well as major equipments – Orders received except Boiler • Civil / Structural Engineering for major non-‐process buildi
Slide 14: CFS Mexico
13 CFS Mexico • Acquire 65% stake in Dresen Quimica SAPI De CV, Mexico in May 2016 • Primarily manufactures Blends and Additives • Key customer segments: Oil, Poultry, Diary, Rendering, Aqua, Pet food, Swine, Vitamin Cuba Pre-‐mix Mexico city Republic of • Total Market size is ~USD 200 Mn and CFS M
Slide 15: CFS Europe
14 CFS Europe Performance Chemicals • Acquired the manufacturing facility at Ravenna, Italy in 2011, which provides captive requirements of key raw materials i.e. Hydroquinone and Catechol • Capacity utilization achieved at 95% in FY19 • Considerable growth in EBITDA Margins & Profits due to favoura
Slide 16: CFS Brazil
15 CFS Brazil Shelf Life Solutions • Formed in 2013 for Blends and the production started in 2015 • Has an application lab in Indaiatuba – Brazil for customizing blends for Shelf-‐life Extension Solutions. • Handles distribution of bulk antioxidants and vanillin. Indaiatuba, Brazil • Key customer s
Slide 17: CFS Wanglong
16 CFS Wanglong • CFS along with CFS Europe acquired 51% stake in Ningbo Wanglong Flavours in 2017 which had an operational plant since 2011 • This acquisition makes CFS the 3rd largest producer of Vanillin • Located in Grade 1 Industrial zone in the city of Yuyao Zhejiang Province, China. • It manu
Slide 18: CFS North America
17 CFS North America Shelf Life Solutions • Formed in October 2015 as a wholly owned subsidiary Market focus • Food -‐ Bulk oils (synthetic antioxidants), Meat & poultry (natural antioxidants) Iowa, USA • Pet food -‐ Rendering for pet food (natural antioxidants), Rendering for animal feed (synthet
Slide 19: Historical Financial Overview
18 HISTORICAL FINANCIAL OVERVIEW
Slide 20: Standalone Income Statement
19 Standalone Income Statement Particulars (INR Mn) FY16 FY17* FY18* FY19* Operational Income 4,227 3,376 4,050 5,481 Total Expenses 3,553 3,156 3,996 5,153 EBITDA 674 220 54 328 EBITDA Margin 15.94% 6.52% 1.33% 5.98% Depreciation 101 116 91 91 Finance Cost 218 232 236 203 Other Income 37 129 92 108
Slide 21: Standalone Balance Sheet (IND-AS)
20 Standalone Balance Sheet (IND-‐As) Particulars (INR Mn) FY18 FY19 Particulars (INR Mn) FY18 FY19 EQUITY 3,314 3,474 Non-‐Current Assets 1,597 2,735 a) Equity Share Capital 121 121 a) Property, Plant and Equipment 683 789 b) Other Equity 3,193 3,353 b) Capital Work In Progress 120 524 c) Non-‐C
Slide 22: Consolidated Income Statement
21 Consolidated Income Statement PARTICULARS (INR Mn) FY16 FY17* FY18* FY19* Operational Income 5,042 5,469 7,228 8,922 Total Expenses 4,125 5,187 7,073 8,235 EBITDA 917 282 155 687 EBITDA Margin 18.19% 5.16% 2.14% 7.70% Depreciation 171 218 267 290 Finance Cost 244 269 284 367 Other Income 43 145 8
Slide 23: Consolidated Balance Sheet (IND-AS)
22 Consolidated Balance Sheet (IND-‐As) PARTICULARS (INR Mn) FY18 FY19 PARTICULARS (INR Mn) FY18 FY19 EQUITY 4,334 4,303 Non-‐Current Assets 3,510 4,143 a) Equity Share Capital 121 121 a) Property, Plant and Equipment 2,066 2,086 b) Other Equity 3,591 3,588 b) Capital Work In Progress 129 536 c) N
Slide 24: Consolidated Financial Highlights
23 Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) 18.19% 10,000 8,922 1,200 20.00% 8,000 7,228 900 15.00% 5,042 5,469 917 6,000 600 7.70% 10.00% 687 4,000 5.16% 300 2.16% 5.00% 2,000 282 155 -‐ -‐ 0.00% FY16* FY17 FY18 FY19 FY16* FY17 FY18 FY19 N
Slide 25: Capital Markets
24 Capital Markets 24 Share Price Data as on 31st March, 2019 40% 20% 0% -‐20% -‐40% -‐60% -‐80%Apr-‐18 May-‐18 Jun-‐18 Jul-‐18 Aug-‐18 Sep-‐18 Oct-‐18 Nov-‐18 Dec-‐18 Jan-‐19 Feb-‐19 Mar-‐19 Camlin Sensex Price Data (31st March, 2019) INR Shareholding Pattern as on 31st March, 2019
Slide 26: Disclaimer
25 Disclaimer 25 Camlin Fine Sciences Limited No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in
Slide 27: Thank You
26 Thank You
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