FILATEX INDIA LTD
Q4 FY 20 RESULTS
MANAGEMENT
:
Mr.
Madhu Sudhan Bhageria, Chairman & Managing Director
Mr.
Purrshottam Bhaggeria, Joint Managing Director
Mr.
Madhav Bhageria, Joint Managing Director
We
are one of India’s Top 5 Manufacturers of Polyester Filament yarns.
FILATX
manufactures polyester and polypropylene multifilament yarn and polyester
chips. We have two manufacturing facilities; one at Dadra & Nagar Haveli
and second one at Dahej, equipped with state-of-the-art modern German machines
02World-Class
Manufacturing Facilities
383000
Tonnes Per Annum Production Capacity (2019-2020)
05
Continents Catered
2500+TeamMember
45+Countries
Global Export
EXPANSIONS :
2019
: Total Polymerization Capacity enhanced from 900 TPD to 1050 TPD through
debottlenecking activity.
Commenced production of POY expansion from 340 TPDto
510 TPD
2020
: Commencement of DTY expansion expected
in Q2FY21.
Work towards power plant project started in Dahej.
FILATEX believes that polyester will
be fibre of the future. Filatex
has focused its future growth
plans on polyester filament
yarns.
95% of the growth in World
Fibre Production in the last decade has come from Synthetic Fibres alone. Polyester
Filaments make up 90% of Synthetic Filaments
POY means -Partially
Oriented Yarns
DTY means - Draw
Texturizing Yarns
FDY means - Fully Drawn
Yarns
Growth Drivers
· Hike in Import Duty
· Import tax on more than 300
textile products doubled to 20% that will help improvement in utilization of
the existing manufacturing capacity
· This will act as a demand
stimulant and encourage the domestic synthetic yarn sector by restricting the
imports and providing price parity in the domestic market
· Exports Opportunity
· Cost competitiveness and
increase in texturizing machines will open up new export opportunities for the
company
· New textile policy aims to
achieve US$ 300 billion worth of textile exports by 2024-25
· Removal of Anti-Dumping Duty
on PTA
· Removal of anti-dumping duty
on raw material will allow the Indian manufacturers to compete domestically and
globally in terms of price competitiveness
· Abundant Raw Material &
Skilled Manpower
· Availability of key raw
materials PTA and MEG within the country at competitive prices has improved the
prospects, eliminating the uncertainties of shipments and volatility of prices
as well as exchange fluctuations.
· Availability of low cost
manpower has led to India emerging as a preferred manufacturing hub
· Scheme for Integrated
Textile Parks
· 40% capital subsidy to a
maximum of INR 40 crore on total project cost on projects approved by
government aimed at creating world-class infrastructure for the industry
· Recycled Yarn Industry
· The demand for recycle
polyester is increasing rapidly as leading brands in fast fashion segments are
promoting sustainability in textile industry.
· Increasing demand for
recycled yarn coupled with increasing application areas of Polyester yarn is
anticipated to accelerate the market growth for foreseeable years.
· ATUFS
· The government would provide
credit linked Capital investment subsidy (CIS) under Amended Technology
Upgradation Fund Scheme (ATUFS)
· The scheme would facilitate
augmenting of investment, productivity, quality, employment, exports along with
import substitution in the industry
· China Factor
· Anti-China sentiment across
the global could shift exports to India being the 2nd largest textile player
· Rising labour costs in China
· Product offering competitive
to that of China
· Growth Drivers –Internal (In Crore)
· Increase Focus on Exports :
· With New texturizing machines coming in, exports
of the company wil lincrease on account of texturized yarn, being a high-demand
product both domestically as well as globally.
· Anti-China sentiments will also
help boost Indian textured yarn exports globally.
· Value-Added Products Expansion
of DTY from 200TPD to 360 TPD has been installed and will help improve overall margins
of the company as it is a value-added product.
· The company is also focused on
researching and adding new filaments with niche characteristics to the product portfolio.
· Captive Power Plant
· The company is setting up of
31.4 MW captive power plant (30 MW Thermal and 1.4 MW Solar). This will help
reduce the power cost of the plant in Dahej and result in improving our margins
by approx. 2% Capex
· Unfolding
The company has
been expanding rapidly for the past 4-5 years in various streams and in FY21 it
expects to capitalize on full capacity and benefit from economies of scale.
Full effect of de-bottle necking
·
· Grand Total Production : 5,68,000
MTPA
· Captive : 1,85,000
· Net : 3,83,000
·
· QOQ
· Revenue : Q4 FY 19 737.7
to Q4 FY 20 667.3* (-9%)
· * Decrease is raw material
prices and production and sales loss due to COVID lockdown
· EBIDTA (₹ in Crore) : 55.9 to 62.3
11.4% up
· PAT : 18.6 21.0 13.2% UP
·
· Quarterly Production (QoQ)
· Total Production (MTPA) : 90,102 87,432
* (-3%)
· Total Sales (TPA) : 92,026 82,901 * (-9.9%)
· Quarterly Results (YoY)
· REVENUE : 705.8 667.3*
(-5.5%)
· * Decrease is raw material
prices and production and sales loss due to COVID lock down
· EBIDTA (₹ in Crore) : 55.1
62.3
(+12.9%)
· PAT : 28.1 21.0 (-33.7%)
·
· Annual Results
· REVENUE (₹ in Crore) 2874 2782
(-3.2%) *FY19 TO FY20
· EBIDTA : 216.51 222.12 (+2.6% UP)
· PAT : 84.9 TO 121.5 (+43.2% UP)
· Net profit/(loss) after tax
FY 20 VS FY 19 : 121.5 84.9 43.1% UP
· Net profit/(loss) after tax
Q4 FY 20 VS Q4 FY 19 : 21.0 18.6
12.9% UP
· IMPRESSION :
· FILATEX is making all the
right moves. Its future results are likely to be much better
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