Siddiqsons Tin Plate Limited · PSX:STPL
Siddiqsons Tin Plate — Corporate Update (2019)
23 slides from Siddiqsons Tin Plate's corporate update, 2019
Slide 1: NSN PAS
NSN PAS ; . 3 aT y fr: 2019.
Slide 2: Group Profile
GROUP PROFILE Siddiqsons Group traces its roots back to 1959 through establishment of Siddiqsons Limited, a textile unit which has grown to become a Denim Dynasty in Pakistan. Since then the Group has expanded into Tinplate, Energy and Construction & Real Estate Siddiqsons Tin Plate Limited is the T
Slide 3: Company Overview
COMPANY OVERVIEW Siddiqsons Tin Plate Limited is the first and only Tin Plate producer in Pakistan. The Company was established in 1996, in collaboration with SOLLAC of France and Mitsubishi Corporation Arcelor Mittal Packaging (formerly SOLLAC), a world renowned steel and mining company is a
Slide 4: Company Overview: Key Products and Major Clients
COMPANY OVERVIEW KEY PRODUCTS MAJOR CLIENTS
Slide 5: Corporate Information
CORPORATE INFORMATION Board of Directors Pattern of Shareholding Entity Rating - Mr. Tariq Rafi Chairman - Mr. Tariq Rafi 19.72% Entity Rating: - Mr. Munir Qureshi CEO Long-Term: A- - M/s. Siddiqsons Limited 15.28% Short-Term: A2 - Mr. Ibrahim Shamsi Non-Exe. director Outlook Stable - M/s. Arcelor M
Slide 6: Key Highlights
KEY HIGHLIGHTS Successful subscription of right issue of PKR 1.8 billion for CRM project; CRM project work initiated and expenses to the tune of PKR 1,600 million has been incurred till date; PKR devaluation of upto 35% on YOY basis (Jun-19: 1:164.5; Jun-18: 1:121.6); Increase in finance cos
Slide 7: Key Figures
KEY FIGURES (Rs. in 000’s) June 19 June 18 % Change Net sales 3,408,744 2,646,261 29% EBITDA excl. Non-Recurring Items 275,132 121,362 127% % of sales 8.1% 4.6% Non-Recurring Income – Markup 61,935 - 100% Net Income after tax 86,891 (67,733) 228% % of sales 2.5% -2.5% EPS 0.39 (0.65) 160% Quantity S
Slide 8: Quarterly Operational Analysis
QUARTERLY OPERATIONAL ANALYSIS (Rs. in millions) 1040 978 925 878 830 766 561 505 23 30 29 47 QTR.1 QTR.2 QTR.3 QTR.4 Sales COGS PBT
Slide 9: Breakup of Total Cost/Expenses
BREAKUP OF TOTAL COST/EXPENSES TOTAL COST COGS 1% 2% 5% 2% 1% 5% 1% Raw material - Tinplate Salaries, wages and COGS benefits Distribution Cost Fuel and power Admin Expenses Depreciation Finance cost Other manufacturing 92% 91% cost
Slide 10: Determinants of Abnormally High Finance Cost
DETERMINANTS OF ABNORMALLY HIGH FINANCE COST DESCRIPTION % % increase in finance cost over last period 33% % increase in markup rate 65% % increase in USD:PKR parity 20%
Slide 11: Average Borrowing Cost
AVERAGE BORROWING COST AVERAGE YEAR RATE 2018-19 12.86% 2017-18 8.04% 2016-17 5.48% 2015-16 5.78% 2014-15 5.89%
Slide 12: Key Figures for Sept-19 (FY-2020)
KEY FIGURES FOR SEPT-19 (FY-2020) (Rs. in 000’s) Sept 19 Sept 18 % Change Net sales 602,303 561,016 7% EBITDA excl. Non-Recurring Items 37,881 41,001 -7.6% % of sales 6.28% 7.3% Non-Recurring Income – Markup 16,835 - 100% Net loss after tax (17,596) 15,717 -211% % of sales -2.9% 2.8% EPS (0.08) 0.07
Slide 13: CRM Complex
CRM COMPLEX PROJECT HIGFILIGEITS
Slide 14: Siddiqsons Cold Rolling Mill Complex
Slide 15: Project Highlights
PROJECT HIGHLIGHTS Capacity of CRM 200,000 MT p.a. Total Cost of Project PKR 6.5 billion (financed by 65% debt and 35% equity) Machinery Supplier CISRI (Beijing, China) Project Completion Date November 25, 2020 Raw Material HRC being the raw material for CRC is easily available and will be mainly Pr
Slide 16: Project Milestones
PROJECT MILESTONES Ground – Breaking April 18th, 2019 Infrastructure completion March 30, 2020 Arrival of PME January – May, 2020 Installation of PME February – July, 2020 Commissioning July – October, 2020 Commercial Operation October / November, 2020
Slide 17: Project Status
PROJECT STATUS Civil infrastructure 45% completed Pre-engineered Buildings 50% completed
Slide 18: Pictorial Review of Project Site
PICTORIAL REVIEW OF PROJECT SITE PPPL Entry section PPPL Central process area
Slide 19: Pictorial Review of Project Site
PICTORIAL REVIEW OF PROJECT SITE RCL Process area RCL Flooring
Slide 20: Pictorial Review of Project Site
PICTORIAL REVIEW OF PROJECT SITE Admin Building CRM
Slide 21: Future Outlook
FUTURE OUTLOOK The National Tariff Commission has imposed antidumping duty on import of ETP from China, South Africa, USA and European Union incl. UK; Imposition of Anti-dumping duty on import of CRC/TMBP from Russia and Canada; Retention of our loyal customer base which ensures us monthly dis
Slide 22: Q&A
Q&A
Slide 23: Thank You
THANK YOU