Camlin Fine Sciences Limited · NSE:CAMLINFINE
Camlin Fine Sciences — Q4 FY2020 Earnings Presentation
30 slides from Camlin Fine Sciences's earnings presentation, June 2020
Slide 1: Earnings Presentation Q4-FY20 / FY20
EARNINGS PRESENTATION Q4-FY20/ FY20
Slide 2: Executive Summary
2 Executive Summary 2 Company Overview Financials FY20 Consolidated (INR Mn) • Camlin Fine Sciences Limited (CFS), formed in 2006 after demerging the Operational fine chemical business from Camlin Ltd., is a vertically integrated company Revenue engaged in research, development, manufacturing, comme
Slide 3: 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 Serving more than 80 Preferred Partner for Strategic move to start countries with over manufactu
Slide 4: 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. • The Company has over 30 years of experience providing innovative solutions with a 12,000 10,491 competi
Slide 5: Q4-FY20/FY20 Financial Overview
5 Q4-FY20/FY20 FINANCIAL OVERVIEW
Slide 6: FY20 / Q4-FY20 Financial & Operational Highlights
6 FY20 / Q4-FY20 Financial & Operational Highlights Q4-FY20 Financial Highlights (Standalone): Q4-FY20 Financial Highlights (Consolidated): • Turnover: INR 1,395 Mn • Turnover: INR 2,929 Mn • EBITDA: INR 139 Mn • EBITDA: INR 343 Mn • EBITDA Margin : 9.96% • EBITDA Margin: 11.71% • Adjusted EBITDA*:
Slide 7: Covid Update
7 Covid Update Preparedness : • Plan drawn with safety of employees being the main concern • Corporate office braced for WFH on March 17, 2020 • All critical staff was equipped with facility to WFH with laptops, connectivity, etc. • IT department was ready with the plan for efficient and safe workin
Slide 8: Covid Update
8 Covid Update • All manufacturing plants • Operational at optimal capacities but there are persisting constraints of labour and supply chain. • Vanillin Manufacturing in China • Plant was shut for New Year from January 24 to February 1, 2020. • Shutdown extended due declaration of lockdown by local
Slide 9: Covid Update
9 Covid Update • Diphenol manufacturing unit in Italy • Plant has remained operational with a record capacity utilization in March 2020 of almost 100% • Blends manufacturing in Brazil & Mexico • Operating at optimal capacities – no shutdown at manufacturing facilities • Corporate Offices remain unde
Slide 10: Q4-FY20 Standalone Income Statement (Ind-AS)
10 Q4-FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) Q4-FY20 Q4-FY19 Y-o-Y Q3-FY20 Q-o-Q Operational Revenue 1,395 1,715 (18.7)% 1,532 (8.9)% Total Expenses 1,256 1,629 (22.9)% 1,392 (9.8)% Operational EBITDA 139 86 61.6% 140 (0.7)% Operational EBITDA Margins (%) 9.96% 5.01% 495 Bps
Slide 11: FY20 Standalone Income Statement (Ind-AS)
11 FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) FY20 FY19 Y-o-Y Operational Revenue 5,798 5,481 5.8% Total Expenses 5,201 5,182 0.4% Operational EBITDA 597 299 99.7% Operational EBITDA Margins (%) 10.30% 5.46% 484 Bps Adjusted EBITDA* 597 299 82.0% Adjusted EBITDA Margins(%) 10.30
Slide 12: Q4-FY20 Consolidated Income Statement (Ind-AS)
12 Q4-FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) Q4-FY20 Q4-FY19 Y-o-Y Q3-FY20 Q-o-Q Operational Revenue 2,929 2,680 9.3% 2,739 6.9% Total Expenses 2,586 2,512 2.9% 2,444 5.8% Operational EBITDA 343 168 NA 295 16.3% Operational EBITDA Margins (%) 11.71% 6.27% 544 Bps 10.77
Slide 13: FY20 Consolidated Income Statement (Ind-AS)
13 FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) FY20 FY19 Y-o-Y Operational Revenue 10,492 8,922 17.6% Total Expenses 9,185 8,235 11.5% Operational EBITDA 1,307 687 90.2% Operational EBITDA Margins (%) 12.46% 7.70% 476 Bps Adjusted EBITDA* 1307 697 87.5% Adjusted EBITDA Marg
Slide 14: Country Overview
14 14 COUNTRY OVERVIEW
Slide 15: CFS India
15 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 expe
Slide 16: Update on Dahej Project
16 Update on Dahej Project Work / Activities completed • Mechanical completion of the Plant done successfully in January 2020. • Trial Runs commenced on January 30, 2020. • Lockdown due to pandemic on March 24, 2020 Time line • Closure due to Lockdown impacted trial runs. Commercial production • The
Slide 17: CFS Mexico
17 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 Mex
Slide 18: CFS Europe
18 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 19: CFS Brazil
19 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 seg
Slide 20: CFS Wanglong
20 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 21: CFS North America
21 CFS North America Shelf Life Solutions • Formed in October 2015 as a wholly owned subsidiary Market focus Iowa, USA • Food - Bulk oils (synthetic antioxidants), Meat & poultry (natural antioxidants) • Pet food - Rendering for pet food (natural antioxidants), Rendering for animal feed (synthetic a
Slide 22: Historical Financial Overview
22 HISTORICAL FINANCIAL OVERVIEW
Slide 23: Historical Standalone Income Statement
23 Historical Standalone Income Statement Particulars (INR Mn) FY18 FY19 FY20 Operational Income 4,050 5,481 5,798 Total Expenses 3,996 5,182 5,201 EBITDA 54 299 597 EBITDA Margin 1.33% 5.46% 10.30% Depreciation 91 91 113 Finance Cost 236 203 281 Other Income 92 137 241 Impairment Losses - - 31 PBT
Slide 24: Standalone Balance Sheet
24 Standalone Balance Sheet Particulars (INR Mn) FY19 FY20 Particulars (INR Mn) FY19 FY20 EQUITY 3,474 3,768 Non-Current Assets 2,733 3,802 a) Equity Share Capital 121 121 a) Property, Plant and Equipment 789 686 b) Other Equity 3,353 3,647 b) Capital Work In Progress 523 1,742 c) Non-Controlling In
Slide 25: Historical Consolidated Income Statement
25 Historical Consolidated Income Statement PARTICULARS (INR Mn) FY18 FY19 FY20 Operational Income 7,228 8,922 10,491 Total Expenses 7,073 8,235 9,184 EBITDA 155 687 1,307 EBITDA Margin 2.14% 7.70% 12.46% Depreciation 267 290 328 Finance Cost 284 367 431 Other Income 86 138 34 Income from Associate
Slide 26: Consolidated Balance Sheet
26 Consolidated Balance Sheet PARTICULARS (INR Mn) FY19 FY20 PARTICULARS (INR Mn) FY19 FY20 EQUITY 4,303 4,601 Non-Current Assets 4,143 5,591 a) Equity Share Capital 121 121 a) Property, Plant and Equipment 2,055 2,034 b) Other Equity 3,588 3,910 b) Capital Work In Progress 573 1,761 c) Non-Controll
Slide 27: Consolidated Financial Highlights
27 Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) 12,000 10,491 1,500 12.46% 14.00% 10,000 8,922 12.00% 1,200 7,228 7.70% 10.00% 8,000 5,469 900 8.00% 6,000 5.16% 1,307 600 6.00% 4,000 687 2.14% 4.00% 2,000 300 282 155 2.00% - - 0.00% FY17 FY18 FY1
Slide 28: Capital Markets
28 Capital Markets 28 Share Price Data as on 31st March, 2020 80% 60% 40% 20% 0% -20% -40% Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Camlin Fine Sciences BSE Sensex Price Data (31st March, 2020) INR Shareholding Pattern as on 31st March, 2020 Face Value 1.00
Slide 29: Disclaimer
29 Disclaimer 29 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 30: Thank You
Thank-You. °'
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