Kirloskar Oil Engines Limited · NSE:KIRLOSENG
Kirloskar Oil Engines — Q4 FY2021 Earnings Presentation
25 slides from Kirloskar Oil Engines's earnings presentation, May 14, 2021
Slide 1: Investors Meet Presentation Q4 & FY 2020-21
Kirloskar Oil Engines Limited A Kirloskar Group Company Investors Meet Presentation Q4 & FY 2020-21 May 14, 2021 (All amounts are in “Rs.Crore” unless otherwise stated) KIRLOSKAR OIL ENGINES LIMITED 11
Slide 2: Our Values
Our Values EXCELLENCE In everything we do, quality without compromise INTEGRITY Say what we do, and do what we say COLLABORATION We grow with people and partners EMPATHY We always listen, and learn VALUE CREATION We’re building for a shared prosperous future INNOVATIVE THINKING Be bold and brave, &
Slide 3: KOEL Group
KOEL Group Kirloskar Oil Engines Ltd La-Gajjar Machineries KOEL Americas Corp.2 Arka Fincap Ltd3 Pvt. Ltd1 (100%) (100%) (76%) Optiqua Pipes & Electricals (P) Ltd.4 (100%) 1 with effect from 1st August, 2017 2 with effect from 1st July 2015 3 with effect from 20th April 2018 4 with effect from 19th
Slide 4: Result Snapshot - Standalone
Result Snapshot - Standalone Q4 904 117.5 700 790 93.8 69.1 EBITDA* Sales Q4 FY20 Q3 FY21 Q4 FY21 Q4 FY20 Q3 FY21 Q4 FY21 Y-O-Y 29% Q-O-Q 15% Y-O-Y 70% Q-O-Q 25% Annual 2,841 282.3 241.8 2,664 EBITDA* Sales FY20 FY21 FY20 FY21 Y-O-Y -6% Y-O-Y 17% Note: Figures for previous periods have been regroupe
Slide 5: Result Snapshot – Standalone (Half Yearly)
Result Snapshot – Standalone Half Yearly - Sales 1,427 1694 970 Sales H1 Y-o-Y Sales H2 Y-o-Y 1414 H1 FY20 H1 FY21 H2 FY20 H2 FY21 Y-O-Y -32% Y-O-Y 20% Half Yearly – EBITDA* EBITDA H1 Y-o-Y EBITDA H2 Y-o-Y 116.5 71.0 211.3 125.3 H1 FY20 H1 FY21 H2 FY20 H2 FY21 Y-O-Y -39% Y-O-Y 69% Note: Figures for
Slide 6: Q4: Key Highlights
Q4 : Key Highlights Sales •Sales increased in Q4 by 15% Q-o-Q and Y-o-Y by 29% •Highest ever quarterly sales : Rs. 904 cr. •Highest ever half yearly sales : Rs. 1,694 cr. EBITDA •Q4 EBITDA margin at 12.8% in Q4 of FY21 vs. 9.7% in Q4 of FY 20. •EBITDA increased by 70% Y-o-Y [117.5 Cr vs. 69.1 Cr.] P
Slide 7: Sales Q4: Business Divisions
Sales Q4 : Business Divisions Q4 FY21 Q4 FY20 Y-O-Y 904 Cr 700 Cr Q4 : Domestic vs. Exports PG (Incl. KGT & Railways) 838 Cr 66 Cr 294 Cr FY21 7% 20% 352 Cr 294 Cr Industrial 639 Cr 61 Cr FY20 91% 9% 60% 207 Cr 129 Cr Customer Support 25% 133 Cr 107 Cr Export sales include: Agriculture* • PG 20 Cr (
Slide 8: Standalone Financials - Q4
Standalone Financials- Q4 Y-o-Y Q3 Q4 Q4 Y-o-Y Particulars Incr/(Decr) FY21 FY20 FY21 ∂ Rs 790 Net Sales 700 904 204 29% 8 Other Operating Income 11 11 798 Revenue from operation 711 915 204 29% 524 Raw Material 446 593 146 56 Employee Costs 50 57 7 13% 124 Other Expenses 145 148 3 2% 94 EBITDA 69.1
Slide 9: Standalone Financials – Full Year
Standalone Financials – Full Year Y-o-Y Y-o-Y Particulars FY20 FY21 Incr/(Decr) ∂ Rs Net Sales 2,841 2,664 (177) -6% Other Operating Income 37 31 (6) Revenue from operation 2,877 2,694 (183) -6% Raw Material 1,874 1,743 (131) Employee Costs 218 199 (19) -9% Other Expenses 544 470 (74) -14% EBITDA 24
Slide 10: Working Capital & Cash Position
Working Capital & Cash Position Inventory From Receivables From 300 March’20 265 March’20 363 356 240 247 246 301 303 304 -7 Cr -35 Cr Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 Mar-20 Jun-20 Sep-20 Dec-20 Mar-21 From Payable From Net Cash & Cash Equivalent March’20 March’20 157 Cr 584 558 427 505 444 249 C
Slide 11: A. Power Generation Business
A. Power Generation Business Q4 Business Performance • All major segments have recovered. • Business has registered growth in Q4 Y-o-Y (excluding Railways). • Ultra High Horse power (UHHP) segment registered healthy double digit growth over FY 20. • i-Green continues to be the market leader with sig
Slide 12: B. Agri Business Highlights
B. Agri Business Highlights Q4 Business Performance • Strong growth witnessed in electric pumps, it is one of the fastest growing segment. • Electric Pump sales have crossed 100 Cr mark in KOEL. • With continued focus on OEM onboarding, supporting market share in the small diesel engine segment incr
Slide 13: C. Industrial Business Highlights
C. Industrial Business Highlights Q4 Business Performance • Highest Quarterly sales, with successful execution of OEM’s BS III pre buy ramp up volume demand in Q3 & Q4. • BSIV transition successfully completed with OEM. • Kirloskar Engines Based Firefighting Pumpset range launched in Q3; order booki
Slide 14: D. Customer Support Business Highlights
D. Customer Support Business Highlights Q4 Business Performance • Digitization and Long term Customer Retention drives of last few years reaped benefits during Covid Crisis. • Customer Delight Index (CDI) score of 92+ maintained through out the year after Qtr 1. • On back of increased service load &
Slide 15: E. Export Business Highlights
E. Export Business Highlights Q4 Business Performance • USA : First supplies of FM/UL approved ngines to leading global OEMs; local package assembly on baseframe to meet OEM requirements • Business has registered growth Y-o-Y • Fire Fighting and Agri segments have registered double digit growth Y-o-
Slide 16: F. Large Engines Business Highlights
F. Large Engines Business Highlights Q4 Business Performance • Large Engine business saw a decline of 34% in Q4 Y-o-Y. Closure of many customer premises and delayed decisions. • In fisheries boat engine segment, market share grew to 25%. • Healthy order board in excess of ~100 Cr. KIRLOSKAR OIL ENGI
Slide 17: Performance of Subsidiaries
Performance of Subsidiaries La-Gajjar Machineries Pvt Limited (“LGM”) • Annual sales crossed mark of 500+cr for the first time since the acquisition. • Sales grew in Q4 FY21 by ~52% and for the full year by 12% (Y-o-Y) - All segments delivered growth in Q4 (Retail, Export, OEM & Govt.) • EBITDA marg
Slide 18: Arka Fincap Limited
Arka Fincap Limited • KOEL infused Rs 124.82 Cr of share capital in ARKA in FY21. Total Investment in Arka Fincap Limited as on 31st Mar 21 stood at Rs 651.32 Cr. • Revenue from operations at 102 Cr in FY 21; growth of 110% over last financial year. • PAT for FY 21 Rs 17 Cr vs. Rs 6 Cr in FY 20; gro
Slide 19: Result Snapshot - Consolidated
Result Snapshot - Consolidated Q4 1,074 147.1 814 948 120.4 87.1 EBITDA* Sales Q4 FY20 Q3 FY21 Q4 FY21 Q4 FY20 Q3 FY21 Q4 FY21 Y-O-Y 32% Q-O-Q 13% Y-O-Y 69% Q-O-Q 22% Annual 385.7 3,331 294.8 3,255 EBITDA* Sales FY20 FY21 FY20 FY21 Y-O-Y -2% Y-O-Y 31% Note: Figures for previous periods have been reg
Slide 20: Consolidated Financials - Q4
Consolidated Financials - Q4 Q3 Q4 Q4 Y-o-Y Y-o-Y Particulars FY21 FY20 FY21 Rs Cr ∂ 948 Net Sales 814 1,074 260 32% 11 Other Operating Income 13 13 959 Revenue from operation 827 1,087 260 31% 614 Raw Material 501 664 163 71 Employee Costs 65 74 153 Other Expenses 173 201 28 16% 120.4 EBITDA 87.1 1
Slide 21: Consolidated Financials – Full Year
Consolidated Financials – Full Year Y-o-Y Y-o-Y Particulars FY20 FY21 Rs Cr ∂ Net Sales 3,331 3,255 (76) -2% Other Operating Income 49 41 (7) -15% Revenue from operation 3,379 3,296 (83) -2% Raw Material 2,142 2,050 (92) Employee Costs 270 257 (13) -5% Other Expenses 672 603 (69) -10% EBITDA 295 386
Slide 22: Consolidated Financials Segment Information
Consolidated Financials Segment Information Q3 FY21 Particulars Q4 FY20 Q4 FY21 YOY FY 20 FY 21 YOY SEGMENT REVENUE 711 Engines 662 818 23.6% 2,655 2,391 -10.0% 169 Electric Pumps 118 187 57.7% 541 622 15.0% 29 Financial Services 16 33 103.3% 48 102 110.9% 50 Others 30 49 65.2% 133 180 35.6% (0) Una
Slide 23: KOEL's Strategic Direction
KOEL’s Strategic Direction • Cleaner engines – most advanced emission norms, natural gas, biogas engines, petrol, hybrid industrial • Leverage High Horse Power segment presence – beyond backup power into prime / cogeneration • Grow electric segment – electric pumps, electric motors, battery based ba
Slide 24: Disclaimer & Safe Harbor Statement
Disclaimer & Safe Harbor Statement Statements in this presentation, particularly those which relate to management’s views and analysis, describing the Company’s objectives, projections, estimates and expectations may constitute “forward looking statements” within the meaning of applicable laws and r
Slide 25: Thank You
Thank You KIRLOSKAR OIL ENGINES LIMITED 25 25
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