FINEOTEX CHEMICAL LIMITED
9M / Q3- FY20
EARNINGS PRESENTATION
Where Dependability Counts…
EXECUTIVE SUMMARY
2
FINEOTEX®
EXECUTIVE SUMMARY
FY19 FINANCIALS (I-GAAP-Consolidated)
OVERVIEW
Fineotex Group founded in 1979
- BUSINESS MIX
- KEY STRENGTHS
...
Income – INR 1,823 MN; CAGR 3 Years 19% EBITDA – INR 346 MN; CAGR 3 Years 9% PAT – INR 243 MN; CAGR 3 Years 13%
..
..
Fineotex is one of India’s largest and most progressive speciality textile chemical manufacturers. The Company manufactures chemicals for the entire value chain for the textile industry including pretreatment, dyeing , printing and finishing process . The company also manufactures other chemicals for various industries like agro , adhesives , construction, water treatment etc.
..
Strong Balance Sheet with Zero Debt; High ROE and ROCE, Consistently Dividend paying. Professionally run company with high Promoter holding. Promoter stake is the same as last year. Strong Industry knowledge – over three decades of operations . Low cost high margin products with high entry barriers. is engaged in manufacturing of Specialty Chemicals and Enzymes. Mr. Surendra Kumar Tibrewala is Chairman & MD and Mr Sanjay Tibrewala Executive Director & CFO.
..
..
The company has manufacturing facilities in Navi Mumbai and
..
- Malaysia with
- a
- combined
production capacity of 43,000 MT/p.a. Current Market Capitalization is
INR 2999.5 MN as of 31st December, 2019.
..
Extremely strong brand loyalty. Strong R&D capabilities help them increase customization levels of
- their products.
- It has more than 400 products
catering to various industries.
3
COMPANY OVERVIEW
4
FINEOTEX®
COMPANY OVERVIEW
..
Fineotex Group was established in 1979 by Mr. Surendra
Domestic Revenue
Break-up
Industry wise Revenue
Tibrewala.
Break-up
Adhesives
1%
Other
FCL was incorporated as a public limited company in 2007. The company was listed on Bombay Stock Exchange in March 2011,
and listed on the National Stock Exchange in January 2015.
East 2%
Chemicals
1%
South
20%
Fertilizer Chemicals
- 1%
- North
40%
..
Fineotex is one of India’s largest and most progressive specialty
Textile Chemicals
97%
West 38%
textile chemical manufacturers. The company manufactures over 400 specialty chemicals and enzymes to Textile, Garment, Construction, Leather, Water treatment , Agrochemicals, Adhesives and others industries.
Geographical Revenue Break-up (Consolidated)
Geographical Revenue
Break-up (Standalone)
.
Headquartered in Mumbai, it has manufacturing facilities in India
and Malaysia with a combined production capacity of
43,000MT/p.a.
Export
25%
Domestic
48%
..
It has a global presence across 60 countries and caters to well known companies in India and overseas.
Overseas
52%
Domestic
75%
FCL along with it’s subsidiary Biotex Malaysia, has a global presence as a reputed producer of specialty chemicals.
5
FINEOTEX®
ACCREDITATIONS
SA 8000 (Social Accountability
Management System)
- ISO 9001:20015
- ISO 14001:2015
- OHSAS 18001:2007
Fastest growing company in chemical manufacturing by IPF at Bombay Stock
Exchange
Recognized as a Star Export House
ZDHC (Zero Discharge Hazardous Chemical)
6
FINEOTEX®
ACCREDITATIONS
7
FINANCIAL OVERVIEW
8
FINEOTEX®
9M / Q3-FY20 FINANCIAL HIGHLIGHTS
Q3-FY20 performance (Standalone):
Q3-FY20 performance (Consolidated):
• Revenue : INR 326 Mn; Growth of 15.6% YoY
• EBITDA : INR 63 Mn
• Revenue : INR 521 Mn; Growth of 13.3% YoY
• EBITDA : INR 81 Mn.
• Net Profit : INR 67 Mn ; Growth of 48.9% YoY
• Diluted EPS : INR 0.60 per share
• Net Profit : INR 81 Mn ; Growth of 28.6% YoY
• Diluted EPS : INR 0.73 per share
9M-FY20 performance (Standalone):
9M-FY20 performance (Consolidated):
• Revenue : INR 984 Mn; Growth of 22.5% YoY
• EBITDA : INR 214 Mn.
• Revenue : INR 1,528 Mn; Growth of 15.7% YoY
• EBITDA : INR 266 Mn.
• Net Profit : INR 174 Mn. Growth of 47.5% YoY
• Diluted EPS : INR 1.56 per share
• Net Profit : INR 204 Mn. Growth of 14.6% YoY
• Diluted EPS : INR 1.84 per share
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FINEOTEX®
QUARTERLY- INCOME STATEMENT
STANDALONE
- INCOME STATEMENT (INR Mn)
- Q3-FY20
- Q3-FY19
- Y-o-Y
15.6%
17.4%
8.6%
NA
- Q2-FY20
- Q-o-Q
(1.8)%
4.4%
(21.3)%
NA
- Revenue
- 326
263
63
29
3
282
224
58
6
332
252
80
3
Expenses
EBITDA
Other Income
Depreciation Finance Cost Exceptional Items
PBT
- 2
- 50.0%
NA
- 3
- NA
- 1
- 1
- 1
- NA
- -
- -
- NA
- -
- NA
88
21
67
-
61
16
45
-
44.3%
31.3%
48.9%
NA
79
19
60
-
11.4%
10.5%
11.7%
NA
Tax
PAT
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
67
0.60
45
0.41
48.9%
46.3%
60
0.54
11.7%
11.1%
10
FINEOTEX®
NINE MONTHLY- INCOME STATEMENT
STANDALONE
- INCOME STATEMENT (INR Mn)
- 9M-FY20
- 9M-FY19
- Y-o-Y
22.5%
24.6%
15.7%
(129) Bps
NA
- Revenue
- 984
770
214
21.75%
30
803
618
185
23.04%
-
Expenses
EBITDA
EBITDA Margins (%)
Other Income Depreciation Finance Cost Exceptional Items
PBT
- 8
- 7
- 14.3%
(60.0)%
NA
- 2
- 5
- -
- (4)
234
60
169
51
38.5%
17.6%
47.5%
299 Bps
NA
Tax
- PAT
- 174
17.68%
-
118
14.69%
-
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
174
1.56
118
1.06
47.5%
47.2%
10
FINEOTEX®
QUARTERLY- INCOME STATEMENT
CONSOLIDATED
- Q3-FY20
- Q3-FY19
- Y-o-Y
13.3%
17.3%
(4.7)%
NA
- Q2-FY20
- Q-o-Q
2.2%
7.8%
(20.6)%
NA
INCOME STATEMENT (INR Mn)
Revenue
521
440
81
31
3
460
375
85
5
510
408
102
(7)
3
Expenses
EBITDA
Other Income Depreciation Finance Cost Exceptional Items
PBT
- 3
- NA
- NA
- 2
- 2
- NA
- 2
- NA
- -
- -
- NA
- -
- NA
- 107
- 85
- 25.9%
- 90
- 18.9%
- Tax
- 26
81
-
22
63
-
18.2%
28.6%
NA
24
66
-
8.3%
22.7%
-
PAT
Other Comprehensive Income
- Total Comprehensive Income
- 81
- 63
- 28.6%
- 66
- 22.7%
- Diluted EPS (INR)
- 0.73
- 0.57
- 28.1%
- 0.59
- 23.7%
11
FINEOTEX®
NINE MONTHLY- INCOME STATEMENT
CONSOLIDATED
- INCOME STATEMENT (INR Mn)
- 9M-FY20
1,528
1,262
266
17.41%
24
9M-FY19
1,321
1,061
260
19.68%
1
Y-o-Y
15.7%
18.9%
2.3%
Revenue
Expenses
EBITDA
EBITDA Margins (%)
Other Income Depreciation Finance Cost Exceptional Items
PBT
227 Bps
NA
- 8
- 7
- 14.3%
(28.6)%
NA
- 5
- 7
- -
- (4)
277
73
243
65
14.0%
12.3%
14.6%
(12)Bps
NA
Tax
- PAT
- 204
13.35%
-
178
13.47%
-
PAT Margins (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
204
1.84
178
1.60
14.6%
15.0%
12
HISTORICAL STANDALONE INCOME STATEMENT
FINEOTEX®
- FY14
- FY15
- FY16
- FY17
- FY18
- FY19
- 9M-FY20
INCOME STATEMENT (INR Mn)
- Revenue
- 535
486
49
37
2
650
537
113
48
681
498
183
45
757
565
192
44
919
683
236
75
1,126
869
257
12
984
770
214
30
Expenses
EBITDA
Other Income
Depreciation Finance Cost Extra-Ordinary Items
PBT
- 4
- 5
- 6
- 6
- 9
8
- 3
- 3
- 3
- 3
- 4
- 6
2
(1)
80
22
20 58
2.59
- -
- -
- -
- -
- (5)
-
154
42
220
69
227
68
301
89
249
76
234
- 60
- Tax
Operational PAT* PAT
- 64
- 106
151
1.35
115 159
1.43
138 213
1.91
156 173
1.56
144 174
1.56
112
- 1.00
- Diluted EPS (INR)
*Operational PAT= PAT- Other Income + Extraordinary items
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FINEOTEX®
STANDALONE BALANCE SHEET
PARTICULARS (INR Mn)
EQUITIES & LIABILITIES
- FY 13
- FY14
- FY 15
- FY16
- FY17
- PARTICULARS (INR Mn)
ASSETS
- FY 13
- FY14
- FY15
- FY16
- FY17
- Shareholder Funds
- 546
- 601
- 707
- 837
- Non Current Assets
- 225
- 244
- 576
- 678
- 956
772
- (A) Share Capital
- 112
- 112
- 224
- 225
- (A) Fixed Assets
- 63
- 68
- 106
- 120
- 223
163 532
- (B) Reserves& Surplus
- 434
-
- 489
- 483
- 612
- (B) Non-current Investments
- 84
73
5
93
79
4
385
80
5
484
69
5
733
(C) Long term Loans & Advances
(C) Share Application Money
Non Current Liabilities
- -
- -
- -
- -
73
4
- 33
- 7
- -
- -
(D) Other Non Current Assets
-
(A) Long Term Borrowings
Current Liabilities
33
110
2
7
152
-
-
141
10
-
133
30
- Current Assets
- 464
42
516
59
272
47
292
57
-
127
10
311
65
(A)Inventories
(A) Short term Borrowings (B) Trade Payables
- (B) Trade Receivables
- 114
91
171
82
169
27
192
28
208
17
- 72
- 111
34
- 96
- 99
- (C) Cash & Bank Balances
112
4
(D) Short-term loans & advances
- (C) Other Current Liabilities
- 29
- 12
- 3
- 3
- 35
- 20
- 14
17
- (D) Short-term provisions
- 7
- 7
- 23
- 1
- (E) Other current assets
- 214
- 169
- 9
- 1
1
4
GRAND TOTAL - EQUITIES & LIABILITES
- 689
- 760
- 848
- 970
- GRAND TOTAL – ASSETS
- 689
- 760
- 848
- 970
- 1,083