Camlin Fine Sciences Limited · NSE:CAMLINFINE
Camlin Fine Sciences — Q2 FY20 Earnings Presentation
28 slides from Camlin Fine Sciences's earnings presentation, Nov 8, 2019
Slide 1: Regulation 30 intimation letter to stock exchanges
11 th November, 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 I I Series: E
Slide 2: Earnings Presentation H1 / Q2-FY20
EARNINGS PRESENTATION H1 / Q2-FY20
Slide 3: Executive Summary
2 Executive Summary 2 Company Overview Financials FY19 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 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. • The Company has over 30 years of experience providing innovative solutions with a 10,000 8,922 competit
Slide 6: H1 / Q2-FY20 Financial Overview
5 H1 / Q2-FY20 FINANCIAL OVERVIEW
Slide 7: H1 / Q2-FY20 Financial & Operational Highlights
6 H1 / Q2-FY20 Financial & Operational Highlights Q2-FY20 Financial Highlights (Standalone): Q2-FY20 Financial Highlights (Consolidated): • Turnover: INR 1,435 Mn • Turnover: INR 2,223 Mn • EBITDA: INR 180 Mn • EBITDA: INR 301 Mn • EBITDA Margin : 12.54% • EBITDA Margin: 13.54% • Adjusted EBITDA*: I
Slide 8: Q2-FY20 Standalone Income Statement (Ind-AS)
7 Q2-FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) Q2-FY20 Q2-FY19 Y-o-Y Q1-FY20 Q-o-Q Operational Revenue 1,435 1,188 20.8% 1,436 (0.1)% Total Expenses 1,255 1,093 14.8% 1,339** (6.3)% Operational EBITDA 180 95 89.5% 97 (85.6)% Operational EBITDA Margins (%) 12.54% 8.00% 454 Bps 6
Slide 9: H1-FY20 Standalone Income Statement (Ind-AS)
8 H1-FY20 Standalone Income Statement (Ind-AS) Income Statement (Mn) H1-FY20 H1-FY19 Y-o-Y Operational Revenue 2,871 2,267 26.6% Total Expenses 2,585 2,090 23.7% Operational EBITDA 286 177 61.6% Operational EBITDA Margins (%) 9.96% 7.81% 215 Bps Adjusted EBITDA* 286 177 61.6% Adjusted EBITDA Margins
Slide 10: Q2-FY20 Consolidated Income Statement (Ind-AS)
9 Q2-FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) Q2-FY20 Q2-FY19 Y-o-Y Q1-FY20 Q-o-Q Operational Revenue 2,223 2,013 10.4% 2,601 (14.5)% Total Expenses 1,922 1,841 4.4% 2,246 (14.4)% Operational EBITDA 301 172 75.0% 355 (15.2)% Operational EBITDA Margins (%) 13.54% 8.54% 50
Slide 11: H1-FY20 Consolidated Income Statement (Ind-AS)
10 H1-FY20 Consolidated Income Statement (Ind-AS) Income Statement (INR Mn) H1-FY20 H1-FY19 Y-o-Y Operational Revenue 4,824 3,827 26.0% Total Expenses 4,168 3,516 18.5% Operational EBITDA 656 311 110.9% Operational EBITDA Margins (%) 13.60% 8.13% 547 Bps Adjusted EBITDA* 669 311 115.1% Adjusted EBIT
Slide 12: Country Overview
11 11 COUNTRY OVERVIEW
Slide 13: CFS India
12 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 14: Update on Dahej Project
13 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 building
Slide 15: CFS Mexico
14 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 Mexico city Pre-mix Republic of • Total Market size is ~USD 200 Mn and CFS Mex
Slide 16: CFS Europe
15 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 17: CFS Brazil
16 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 18: CFS Wanglong
17 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 19: CFS North America
18 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 (synthetic a
Slide 20: Historical Financial Overview
19 HISTORICAL FINANCIAL OVERVIEW
Slide 21: Standalone Income Statement
20 Standalone Income Statement Particulars (INR Mn) FY17 FY18 FY19 H1-FY20 Operational Income 3,376 4,050 5,481 2,871 Total Expenses 3,156 3,996 5,182 2,585 EBITDA 220 54 299 286 EBITDA Margin 6.52% 1.33% 5.46% 9.96% Depreciation 116 91 91 56 Finance Cost 232 236 203 56 Other Income 129 92 137 144 E
Slide 22: Standalone Balance Sheet (IND-As)
21 Standalone Balance Sheet (IND-As) Particulars (INR Mn) FY18 FY19 H1-FY20 Particulars (INR Mn) FY18 FY19 H1-FY20 EQUITY 3,314 3,474 3,564 Non-Current Assets 1,597 2,735 3,456 a) Equity Share Capital 121 121 121 a) Property, Plant and Equipment 683 789 675 b) Other Equity 3,193 3,353 3,443 b) Capit
Slide 23: Consolidated Income Statement
22 Consolidated Income Statement PARTICULARS (INR Mn) FY17 FY18 FY19 H1-FY20 Operational Income 5,469 7,228 8,922 4,824 Total Expenses 5,187 7,073 8,235 4,168 EBITDA 282 155 687 656 EBITDA Margin 5.16% 2.14% 7.70% 13.60% Depreciation 218 267 290 13 Finance Cost 269 284 367 153 Other Income 145 86 13
Slide 24: Consolidated Balance Sheet (IND-As)
23 Consolidated Balance Sheet (IND-As) PARTICULARS (INR Mn) FY18 FY19 H1-FY20 PARTICULARS (INR Mn) FY18 FY19 H1-FY20 EQUITY 4,334 4,303 4,527 Non-Current Assets 3,510 4,143 5,179 a) Equity Share Capital 121 121 121 a) Property, Plant and Equipment 2,066 2,055 2,053 b) Other Equity 3,591 3,588 3,699
Slide 25: Consolidated Financial Highlights
24 Consolidated Financial Highlights Operational Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) 10,000 1,200 18.19% 20.00% 8,922 8,000 7,228 900 15.00% 5,469 917 6,000 5,042 600 7.70% 10.00% 4,000 5.16% 300 2.14% 5.00% 2,000 687 282 - - 155 0.00% FY16* FY17 FY18 FY19 FY16* FY17 FY18 FY19 Net D
Slide 26: Capital Markets
25 Capital Markets 25 Share Price Data as on 30th September, 2019 50% 40% 30% 20% 10% 0% -10% -20% Oct-18 Nov-18 Dec-18 Jan-19 Feb-19 Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Camlin Sensex Price Data (30th September, 2019) INR Shareholding Pattern as on 30th September, 2019 Face Value 1.00 M
Slide 27: Disclaimer
26 Disclaimer 26 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 28: Thank You
27 Thank You