Thursday, November 1, 2018

NOCIL LTD - Q2 FY 18-19 - RESULTS REVIEW


NOCIL LTD
Q2 FY 18-19 
RESULTS REVIEW

NOCIL in a Snapshot

Part of Arvind Mafatlal Group
Largest Rubber Chemicals Manufacturer in India
Expertise in Rubber Chemical Business over 4 decades
State of the Art, Innovative, Sustainable & Competitive Technologies
Wide range of Rubber Chemicals to suit customer needs
Long Term Business Relationships with Tyre Majors (Both Domestic & International)
Strong Marketing & Distribution Service Network
Certified for Quality and Health/Safety/Environment.
Environment Friendly Processes
Awarded Responsible Care Logo by Indian Chemical Council

MANAGEMENT

1.         HRISHIKESH A. MAFATLAL. PROMOTER & CHAIRMAN
2.         S.R.DEO , MD

PLANTS AT

1.         NAVI MUMBAI PLANT
·       Located in - Belapur’s industrial zone designated for  chemical Industry, about 40 kms away from Mumbai
·       State-of-the-art technology for the manufacture of the entire range of Rubber Chemicals for Tyre & other Rubber Products
2.         DAHEJ PLANT
·       Located about 45 kms from Bharuch, Gujarat
·       Location has synergistic Chemicals & Petrochemicals industry
·       excellent connectivity with Dahej & Hazira Port
·       Fully automated continuous process plant developed completely with in-house technology

Products & their Usage

1. ACCELERATORS
Increase the speed of vulcanization to improve productivity

2. ANTI-DEGRADANTS/ ANTI-OXIDANTS
An ingredient in rubber compounds which deters the ageing or inhibits degradation due to oxygen attack of rubber products thereby enhancing service life

3. SPECIALISED APPLICATIONS
·       Pre vulcanization inhibitor, Post vulcanization stabilizer, Zinc based applications etc.
·       One Stop Shop with Wide Range to suit Market Requirements

·       NOCIL’s Research Centre is recognized by Ministry of Science and Technology, Government of India

·       Key Areas Focussed upon

     Process Development, scale up, commercial implementation
     Environmental strategies for sustainable growth
     Research initiatives as per customers’ perceived needs

     Rubber Chemicals constitute 3% - 4% of the Rubber Consumption

     Every year ~40k additional demand for Rubber chemicals is created

     AUTOMOTIVE AND TYRE INDUSTRY WILL GROW AT 12%-14% FOR NEXT 4-5 YEARS

     Domestic Tyre Industry have already committed INR 15 – 18 Bn towards expansion plans

     CONTINUOUS DEMAND FOR RUBBER CHEMICALS

     CAR PENETRATION IS VERY LOW AND INCREASING

     INCOME LEVELS ARE RISING

     STATE OF ART TECHNOLOGY

     HIGH VALUE ADDED PRODUCTS

KEY STRENGTHS OF NOCIL

     DEPENDABLE & QUALITY PLAYER

     WIDE PRODUCT RANGE

     STRONG CUSTOMER RELATIONSHIPS

     NEW CAPACITY ADDITIONS

     COMMITTED PLANS FOR FUTURE GROWTH

H1 FY 19 PERFORMANCE

H1 REVENUE : RS.540 CR (56% OF FY 18 REVENUES)
FROM RS.443 CR IN H1 FY 18, 
VOLUME GROWTH WAS RS.48 CR AND VALUE GROWTH WAS RS.49 CR AND TOTAL H1 FY 19 WAS RS.540 CR

H1 OPERATING EBITDA : RS.159 CR (60% OF FY 18)

HI EBITDA MARGINS : 29.4%

H1 PAT : RS.104 CR (61% OF FY 18) H1 FY 17 : RS.51 CRORES) DOUBLED IN 3 YEARS 

PAT MARGINS : 19.2% (16.4% FY 18; 13.6% FY 17)

Q2 FY 19 PERFORMANCE

REVENUE : RS.272 CR (228 CR FY 18/+19.5%)(181 CR FY 17)

PBT : RS.76 CR ( RS.35 FY 18/+39.7%)( RS.40 CR FY 17)

PAT RS.53 CR ( RS.38 CR FY 18/+38.8%)(RS.27 CR FY 17)

PAT MARGINS : 19.4% (16.7% FY 18/15.1% FY 17)

INTEREST : ZERO

CAPEX – KEY GROWTH DRIVER

PHASE.1 RS.170 CR ANNOUNCED IN MARCH 17

(A)     NAVI MUMBAI EXPANSION COMPLETED. COMMERCIAL PRODUCTION IN Q1 FY 19
(B)     EXPANSION AT DEHEJ; COMMERCIAL PRODUCTION IN Q3 FY 19

PHASE II CAPEX RS.255 CR

1.         FOR EXPANSION OF RUBBER CHEMICALS PRODUCTION AT DEHAJ AND NAVI MUMBAI – ANNOUNCED IN DEC 17

2.         ANOTHER EXPANSION ANNOUNCED IN JAN 18

3.         COMMERCIAL PRODUCTION EXPECTED BY END OF H1 FY 19-20

4.         CAPEX BY INTERNAL ACCRUALS

5.         EXPANSION WILL MAKE ASSET TURNOVER AS 2 X





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