Grindwell Norton Limited · NSE:GRINDWELL
Grindwell Norton — Investor Presentation (May 2017)
21 slides from Grindwell Norton's investor presentation, May 31, 2017
Slide 1: Grindwell Norton Ltd. Investor Meet
Grindwell Norton Ltd. Investor Meet 31st May 2017
Slide 2: Key Indicators and Trends
GNO-Key Indicators Key Indicators and Trends and Trends 2
Slide 3: Please Note
PLEASE NOTE: 1) Results for the quarter and year ended 31st March 2017 have been prepared in accordance with the Companies (Indian Accounting Standards) Rules, 2015 (Ind AS) prescribed under Section 133 of the Companies Act, 2013 and other recognized accounting practices and policies to the extent a
Slide 4: Key Financial Indicators
KEY FINANCIAL INDICATORS (Rs. Crores) Key Financials FY 16-17 FY 15-16 Growth % FY 15-16 Gross Sales 1286 1178 9% 1121 Gross Sales & Service Income 1355 1233 10% 1175 Operating Profit 182 164 11% 161 Profit After Tax 121 106 14% 105 OP margin 14.1 13.9 14.4 Asset Turnover 1.38 1.45 1.6 ROCE % 19.44
Slide 5: Gross Sales & Service Income Bridge
GROSS SALES & SERVICE INCOME BRIDGE FY 2015-16 FY 2016-17 Rs. 1233 Rs.1355 Increase of Rs. 122 crores (+ 10%) (Rs. Crores) Abrasives ~ 4% 14 -6 2 3 109 1355 1233 8.9% -0.5% 0.2% 0.2% 1.2% 2015-16 Domestic Export Domestic Export Price Service 2016-17 Volume Volume Price Income 5
Slide 6: Gross Sales & Service Income Bridge
GROSS SALES & SERVICE INCOME BRIDGE FY 2014-15 FY 2015-16 FY 2016-17 Rs. 1201 (+3%) Rs. 1233 (+10%) Rs.1355 (Rs. Crores) 14 Abrasives ~ 4% -6 2 3 22 -14 10 109 7 6 1201 1355 1233 e e e e e e e e e e m m 5 6 7 m m m m ic ic ic ic -1 -1 -1 lu lu Pr Pr lu lu co co Pr Pr 14 16 15 Vo Vo Vo Vo In In tic t
Slide 7: Gross Sales & Service Income Bridge
GROSS SALES & SERVICE INCOME BRIDGE FY 2015-16 FY 2016-17 Rs. 1233 Increase of Rs. 122 crores (+ 10%) Rs.1355 (Rs. Crores) Abrasives ~ 4% 22 8 92 1355 1233 7.5% 0.7% 1.8% 2015-16 Abrasives Ceramics & Others 2016-17 Plastics 7
Slide 8: Gross Sales & Service Income Bridge
GROSS SALES & SERVICE INCOME BRIDGE FY 2014-15 FY 2015-16 FY 2016-17 Rs. 1201 (+3%) Rs. 1233 (+ 10%) Rs.1355 (Rs. Crores) Abrasives ~ 4% 8 22 5 3 92 24 1355 1201 1233 2014-15 Abrasives Ceramics & Others 2015-16 Abrasives Ceramics & Others 2016-17 Plastics Plastics 8
Slide 9: GNO: Domestic & Export Sales
GNO: DOMESTIC & EXPORT SALES (Rs. Crores) 1286 1,250 GNO Total Sales CAGR: 1178 GNO (Total) 2003 to 2014-15 : 15.4% 1084 1162 Domestic 1,000 915 923 1047 Exports 884 781 946 750 813 820 790 562 710 502 CAGR (2003 to 2014-15): 500 441 373 500 - Domestic: 15.0% 318 266 397 434 - Exports: 18.5% 225 250
Slide 10: GNO, Abrasives, C&P (Excl. Service Income)
GNO, ABRASIVES, C&P (EXCL. SERVICE INCOME) (Rs. Crores) GNO Total Sales CAGR: 1286 1178 1,200 GNO (Total) - 2003 to 2014-15 : 15.4% 1084 Abrasives 1,000 C& P 915 923 884 800 CAGR 2003 to 2014-15: 781 898 - Abrasives : 14.0% 806 737 600 - C&P : 18.9% 562 502 633 441 610 602 373 545 400 318 337 345 30
Slide 11: Key Financial Indicators
KEY FINANCIAL INDICATORS (Rs. Crores) Key Financials FY 16-17 FY 15-16 Growth % FY 15-16 Gross Sales 1286 1178 9% 1121 Gross Sales & Service Income 1355 1233 10% 1175 Operating Profit 182 164 11% 161 Profit After Tax 121 106 14% 105 OP margin 14.1 13.9 14.4 Asset Turnover 1.38 1.45 1.6 ROCE % 19.44
Slide 12: Operating Profit Bridge
OPERATING PROFIT BRIDGE Apr-Mar 16 Apr-Mar 17 Rs. 164 Increase Rs. 18 crores ( + 11%) Rs. 182 (Rs. crores) -3 5 33 -22 8 14 -17 164 182 Apr-Mar 16 Price Volume & Mix Variable Input Staff cost Other Service Other Income Apr-Mar 17 Cost Expenses Income
Slide 13: Operating Profit Bridge
OPERATING PROFIT BRIDGE FY 2014-15 FY 2015-16 FY 2016-17 Op = Rs.157 (+ 4%) Op = Rs. 164 Op = Rs.182 (+ 11%) (Rs. Crores) 5 Abrasives ~ 4% 33 -3 -22 8 8 -20 5 14 6 -17 13 -16 11 182 157 164 e st e st ix ix t e ps e t c 5 6 7 e e os ns os m m om In co Co M M -1 -1 -1 ic ic ex co co fc fC pe 14 15 16
Slide 14: Operating Profit Bridge
OPERATING PROFIT BRIDGE Apr-Mar 16 Apr-Mar 17 Rs. 164 Rs. 182 Increase Rs. 18 crores (+ 11%) (Rs. Crores) 1 -3 10 11 182 164 Apr-Mar 16 Abrasives Ceramics & Others Unallocable Apr-Mar 17 Plastics Inc./ Exp.
Slide 15: Operating Profit Bridge
OPERATING PROFIT BRIDGE FY 2014-15 FY 2015-16 FY 2016-17 Op = Rs. 157 Op = Rs. 164 Op = Rs. 182 (+ 4%) (+ 11%) (Rs. Crores) 1 Abrasives ~ 4% 11 -3 10 2 4 4 -3 157 164 182 1 2014-15 Abrasives Ceramics & Others Unallocable 2015-16 Abrasives Ceramics & Others Unallocable 2016-17 Plastics Plastics 15
Slide 16: GNO, Abrasives, C&P – Operating Profit
GNO, ABRASIVES, C&P – OPERATING PROFIT (Rs. Crores) GNO (Total) Abrasives C&P 190 182 GNO Op. Profit CAGR: 164 - 2003 to 2014-15 : 15.5% 149 157 139 140 126 CAGR 2003 to 14-15: 126 112 - Abr. : 15.5% 98 97 100 101 88 88 90 - C&P : 16.16% 83 80 78 69 59 61 54 52 44 49 47 44 42 34 36 37 37 40 32 32 34
Slide 17: GNO Profits – Operating Profit & PAT
GNO PROFITS – OPERATING PROFIT & PAT (Rs. Crores) GNO Op. Profit CAGR: 182 180 164 - 2003 to 2014-15 : 15.5% 149 157 160 139 140 126 125 120 PBIT PAT 98 121 100 83 80 104 103 106 80 69 97 54 86 84 60 44 32 64 GNO PAT CAGR 40 57 55 46 20 29 35 2003-2015 : 15.9% 0 20 2003 2004 2005 2006 2007 2008 09/1
Slide 18: GNO Profitability – ROCE & OP Margin (%)
GNO PROFITABILITY – ROCE & OP MARGIN (%) ROCE Operating Margin 40 20 ROCE% 18.7 18.7 OP Margin 18.4 35 18 16.9 17.1 16.5 34.5 16.2 30 30.8 16 30.7 15.1 29.2 15.7 29.2 14.5 27.9 13.9 14.1 25 26.8 13.5 14 12.6 24.9 23.9 23.9 20 21.9 12 20.9 20.1 19.4 15 10 2003 2004 2005 2006 2007 2008 09/10 10/11 11/
Slide 19: GNO: Capex in Rs. Crores & as % Sales
GNO: CAPEX IN RS. CRORES & AS % SALES 12.1 130 12 Capex % 11.2 Capex value 10.6 110 9.7 10 107 97 90 Crores Capex 8 7.3 in Rs. 59 70 Capex % 6 4.8 4.6 41 50 4.3 36 4.6 3.7 4 3.2 42 43 25 37 30 33 29 3.3 3.5 2 2.7 10 13 14 7 0 (10) 2003 2004 2005 2006 2007 2008 09/10 10/11 11/12 12/13 13/14 14/15 15/
Slide 20: GNO (Standalone) – Dividend Per Share & Payout (%)
GNO (STANDALONE) – DIVIDEND PER SHARE & DIVIDEND (+ DDT) PAYOUT (%) 50% 51% 8.0 50% 47% 46% 45% 7.0 43% 42% 39% 40% 6.0 40% 43% 43% 43% 40% 38% 5.0 30% 4.00 4.0 3.00 3.25 3.25 3.25 3.25 4.00 20% 3.25 3.0 3.00 2.00 2.0 10% 1.75 Dividend (+DDT) Payout (%) 1.40 Dividend Per Share (Rs.)** 1.0 1.25 0% 0.
Slide 21: Thank You
Thank You