Meghmani Organics Limited (MOL)
Q1 results investor presentation
ABOUT MOL
· Presence in more than 75 countries
· Subsidiaries in the Indonesia, Dubai, Europe and a
representative office in China
· 4 Ware houses in Turkey, Russia, USA and Uruguay
· 7 Dedicated manufacturing facilities in India
· STRONG LEADERSHIP
· MR.JAYANTI PATEL EXECUTIVE CHAIRMAN
· MR.ASHISH SOPARKAR – MANAGING EDITOR
· MR.NATWARLAL PATEL – MANAGING DIRECTOR
PIGMENTS
· Amongst Top 3 Global Phthalocyanine Based Pigment
Players
· 14% Global Market Share
· 32.6% Of Overall Company Revenues
AGRO CHEMICALS
· One Of the Largest Producers Of Pesticides In India
· Products Across Entire Value Chain
· 35.6% Of Overall Company Revenues
Basic Chemicals
· 4th Largest Caustic-Chlorine Player In India
· One Of the Lowest Cost Producers Of Caustic Soda In
India
· 33.1% Of Overall Company Revenues
SUSTAINABLE
COMPETITIVE ADVANTAGES
·
Rich experience of
founding members
•
Highly qualified technical staff
Diversified Customer Base
•
400+ customer base in Pigments & Agro-Chemicals across diverse industries
•
2,800 stockists, agents, distributors and
dealers across India
•
Close to 50%of revenue derived from export market
CONSISTENT REVENUE GROWTH
•
Revenues have grown at CAGR of 11.2% over FY14-18, with higher contribution
from Basic chemicals
•
Improving capacity utilization and completion of on-going Rs.6.4 Bn capex will
further provide significant growth and higher margin (by june 19)
•
EBITDA margin has improved from 16.6% to 23.9%over FY14-18
Robust Return Ratios
•
ROCE– 8.7%in FY14 to 23.9%in FY18
•
ROE– 6.0%in FY14 to 24.2%in FY18
·
STRONG FREE CASH FLOW GENERATION
•
D/E reduced from1.24x in FY14 to 0.35x in FY18
·
2018 : MOL gave successful exit to IFC from MOL by
purchasing
24.97% for Rs2,212 Mn
SHARE OF EXPORTS
· Pigments – 79%;
Agro Chemicals – 67%
· Basic Chemicals – 5%;
Total Revenues – 52%
PIGMENTS BUSINESS: HIGHLIGHTS
Largest Manufacturers Of Phthalocynione Based
Pigments -14% Global Market Share –Among Top 3
Presence
In 70 Countries
Subsidiaries
In Us, Indonesia, Dubai And A Rep Office In China
90%
Business From Repeat Clients
Vertically
Integrated Manufaturing Facilities
Ahmedabad
– 2940 Mtpa
Bharuch
-17,400
Dahez
– 12,600
GLOBAL PIGMENT MARKET
3
Segments – Organic, Inorganic And Speciality Pigment
India,
China Leaders In Organic Pigments
India
Leads In Phthalocyanine – Blue And Green Pigments
AGROCHEMICLAS BUSINESS HIGHLIGHTS
Leading
Manufacturer Of Pesticides
Global
Presence –Africa, Brazil, Lat Am, US And Europe
17
States In India
Over
36 Brands
Total
Capacity -28260 Mtpa
Panoli
– 7200 Mtpa; Ankleshwar – 6,420 Mtpa, Dahej – 14,640 Mtpa
BASIC CHEMICALS BUSINESS :
4th
Largest Cuastic Chlorine Producer In India
Latest
Technology From Japan
One
Of The Most Efficient Caustic Soda Producers
New
60 Tpd Facility To Manufacture Cuastic Potash
CAUSTIC
SODA, CHLORINE,SODA ASH,CAUSTIC POTASH
DAHEJ FACILITY
CAUSTIC-CHLORINE
– 166600 MTPA
CAUSTIC
POTASH – 21000 MTPA
RS.6.4 BN CAPEX PLAN
3
PROJECTS (1) By Dec’18 :18,40,000MTPA; CHLOROFORM,CARBON TETRA CHLORIDE,MDC
(2)BY
JUNE 19 :2,71,600MTPA CAUSTIC SODA
(3)
JUNE 19 : 30,000 MTPA HYDROZEN PEROXIDE
MARGIN
ACCRETIVE, HIGHER EBITDA MARGINS IN BASIC CHEMICALS
GLOBAL CHLOR-ALKALI MARKET
The
global Chlor-Alkali industry is expected to grow at 5.3-5.9%CAGR(2017-2023), to
reach USD125Bn by 2023
•
Indian Chlor-Alkali Industry is poised to grow a CAGR of 6.5% during 2017-2022
Revenue
Target Rs.10 Bn From Each Business Segment
•
The Rs.6.4 Bn on-going capex plan provides a solid revenue growth visibility
over coming years
Q1 FY 19 RESULTS ANALYSIS VIS A VIS Q1
FY 18
REVENUE
GROWTH : 4212 ML TO 4765 MN BY 13.1%
GROSS
MARGIN : FROM 45.5% TO 51.9%
EBITDA
: FROM 912 MN TO 1240 MN BY 36&
EBITDA
MARGIN : FROM 21.7% TO 26%
PAT
: FROM 433 MN TO 771 MN (GROWTH OF 78%
PAT
MARGIN :FROM 10.3% TO 16.2%
PAT
AFTER MINORITY – 637 – 329 – 94%
MP
: 87 year before :84 52 w Low/High : 72/129.40
EQUITY
:25.43 CR
EPS
1.29 TO 2.50
FV
:Rs.1
PUBLIC
SHAREHOLDING – 39.2%
PROMOTERS
– 50.3%
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