Analyst Meet / AGM - Analyst Meet

05-May-2014, 11:01
Atul held an analyst Meet to discuss results for the quarter end year ended March 2014. Senior management of the company addressed the meet.

Highlights of the meet

• Sales increased 17.5% to Rs 2307 crore in FY'14 compared to FY'13. Volume increase led incremental sales growth of Rs 179 crore (9%) while increase in selling price led incremental sales of Rs 164 crore (8%). PBT rose 55% to Rs 297 crore. PAT rose 57% to Rs 213 crore

• The company did a capex of Rs 101 crore in FY'14

• Return on capital employed rose to 26% in FY'14 from 21% in FY'13.

• Interest to sales ratio fell to 1.3 in FY'14 from 1.6 in FY'13

• Turnover per employee rose to Rs 0.85 crore in FY'14 from Rs 0.73 crore in FY'13

• Gross working capital days decreased to 133 days in FY'14 from 145 days in FY'13 and Net working capital days decreased to 76 days from 79 days.

• In absolute terms Gross working capital increased to Rs 964 crore in FY'14 from Rs 791 crore in FY'13 and Net working capital days increased to Rs 550 crore from Rs 429 crore.

• Net Cash flow from operating activities decreased to Rs 141 crore in FY'14 from Rs 167 crore in FY'13

• Total borrowings decreased to Rs 344 crore at the end of March 2014 from Rs 350 crore at the end of March 2013. Long-term borrowings formed 51% of total borrowings in FY'14 while short term loan formed 49%. Rupee currency loans formed 81% of total borrowings in FY14 while foreign currency loans formed 19%

• Debt to equity ratio decreased to 0.37 in FY'14 from 0.47 in FY'13

Aromatics

• User industry are Personal Care, pharmaceutical, Flavors & Fragrance (F&F), Dyestuff and Paper

• No. of customers is approximately 333

• Sales from the segment decreased 0.8% to Rs 652 crore.
  
• The company aims to maintain cost and volume leadership in existing products, Introduce value added downstream products and expand portfolio of products.

Bulk chemicals and Intermediates

• User industries are Tyre, Rubber, Dyestuff, Paper and pharmaceuticals

• No. of customers is approximately 218

• Sales from the segment increased 45% to Rs 122 crore.

• The company wishes to expand and modernize Caustic and Chlorine plants

Colors

• User industries are Textiles, Paper and paints and coatings

• No. of customers is approximately 1350

• Sales from the segment increased 29% to Rs 426 crore.

• Lower sales growth as user industry textile is suffering

• The comany plans to debottleneck capacities of Vat dyes and AQ intermediates

Crop protection

• User industries is Agriculture

• No. of customers is approximately 2093

• Sales from the segment increased 13% to Rs 476 crore.

• The business is dependent on monsoons and fluctuations in commodity prices.

• The company expects to introduce new products coming off patent

Pharma & Intermediates

• User industries are pharma, polymers, crop protection, Aerospace, Electronics, paper

• No. of customers is approximately 127

• Sales from the segment increased 43% to Rs 163 crore.

Polymers

• User industries are paints and coatings, civil, power transmission, wind energy, defense, automotive and aerospace

• No. of customers is approximately 1090

• Sales from the segment increased 30% to Rs 501 crore.

• The company plans to increase sales of high margin products

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