Beruflich Dokumente
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Investor Presentation
April 2015
Safe Harbor
This presentation and the accompanying slides (the Presentation), which have been prepared by Navin Fluorine
International Limited (the Company), have been prepared solely for information purposes and do not constitute
any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on
in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made
except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but
the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth,
accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all
inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or
any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Companys market opportunity and
business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not
guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult
to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the
economies of various international markets, the performance of the industry in India and world-wide, competition, the companys
ability to successfully implement its strategy, the Companys future levels of growth and expansion, technological
implementation, changes and advancements, changes in revenue, income or cash flows, the Companys market preferences and its
exposure to market risks, as well as other risks. The Companys actual results, levels of activity, performance or achievements
could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no
obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and
projections made by third parties included in this Presentation are not adopted by the Company and the Company is not
responsible for such third party statements and projections.
Manufacturing plants
strategically located
closer to major ports
Pioneers of Refrigerant
Gas manufacturing in India
RESPONSIBLE CARE
certification
Pharmaceuticals
Electronics
Aluminum
Agriculture
Steel
White Goods
Solar / Energy
Automotive
Glass
Evolution of NFIL
2013
2013
2000
1967
Started Fluoro-Chemical
business in 1967 at Surat,
Gujarat
Professional Management
Mr. H.A. Mafatlal Chairman
Professional Team .
Mr. Shekhar Khanolkar : Managing Director
Chemical Engineer with Masters in Management studies and an alumni of Harvard Business School
Spent more than 21 years in the Chemical industry with both Indian & Multinational Chemical majors
Been on the Board of the Company since 2008
Mr. Partha Roychowdhury : Chief Financial Officer
Chartered Accountant with 29 years of post qualification experience
Been with the Company since 1995
Dr. Ashis Mukherjee : President CRAMS / CTO
Postgraduate in Science from IIT & a Ph.D. from Princeton University
Total experience of more than 21 years in Pharma, R&D & CRAMS
Spearheading the CRAMs initiatives of the Company since 2009
Mr. Radhesh Welling : President Marketing & Corporate Strategy
Mechanical Engineer from NIT, Surat and an MBA from IIFT, Delhi and IMD, Switzerland
Total work experience of more than 17 years; joined the Company in 2013
Total work experience of more than 21 years and has been with the group since 1992
FY15 Revenue %
Specialty
Chemicals 27%
CRAMS 6%
Specialty
Chemicals 39%
Inorganic
Fluorides 18%
Inorganic
Fluorides 19%
Refrigerants (incl.
CER) 55%
Refrigerants
36%
Refrigerants
Inorganic Fluorides
Sustainable and Stable BUs
Product
Offering
Pioneered
manufacturing of
refrigerant gases in
India in 1967 in Surat,
Gujarat
MARFON Brand has
become generic name
for refrigerants in India
Currently, manufactures
only Mafron-22 (HCFC22)
9
User
Base
Used in Residential Air
Conditioning
Used in Industrial /
Commercial Cooling
Increasingly being used
for non-emissive
purposes such as
feedstock in
Pharmaceuticals
Industries
Distribution
Network
Export
Outreach
Strong Distribution
Network of over 120
dealers in domestic and
overseas markets
Exports to South-East
Asia, Middle East, Saudi
Arabia, Turkey, Egypt &
South Africa
Product
Offering
Portfolio includes 8-10
products
User
Base
Oil & Gas Industry
Distribution
Network
Developed Strong
network in India
Stainless Steel
One of the largest
Anhydrous Hydrofluoric
(AHF) and Aqueous
Hydrofluoric acid
manufacturing
capacities in India
10
Export
Outreach
Growing exports
From near Zero to ~10%
of the turnover in FY15
BU Performance
Inorganic Fluorides
CAGR +5%
195
161
FY11
FY12
176
FY13
194
154
FY14
Revenue (Rs.Crs)
Refrigerants
FY15
CAGR +8%
98
99
FY12
FY13
113
105
FY14
FY15
77
FY11
Exports
32%
68%
Domestic
11
Exports
9%
91%
Domestic
Specialty Chemicals
CRAMS
Driving up
12
Value
User
Base
Distribution
Network
Research &
Development
13
Developing Contract
Manufacturing Base
Research
Manufacturing
Clientele
Client relationship with global
Innovators in Pharma and
Lifesciences compsnies
Worked with more than 20+
Global majors
14
15
MOL Performance
Revenue (Rs.Crs)
PBT (Rs.Crs)
+16%
+76%
49
42
5
FY14
FY15
PAT (Rs.Crs)
FY14
FY15
PAT Margin %
+ 434 bps
+62%
15.39%
11.05%
5
FY14
16
FY15
FY14
FY15
BU Performance
CRAMS*
CAGR +16%
215
159
178
156
118
FY11
FY12
FY13
FY14
Revenue (Rs.Crs)
Specialty Chemicals
FY15
CAGR +49%
31
26
14
FY13
FY14
FY15
Exports
32%
68%
Domestic
Domestic
4%
96%
Exports
17
18
19
Key Strengths
Fluorination Capabilities
Pioneered Manufacturing of
Refrigerant Gases in India
Over 45 years of experience in
handling Fluorine
Extensive expertise focusing on
specialty fluorine chemistry
Manufacturing
Chemical Complex at Surat spread
over 135 acres, houses Refrigerant,
Inorganic Fluorides & Specialty
Chemicals Plants
cGMP Compliant Pilot plant for CRAMS
in Dewas
20
In-house R&D
State-of-the-art R&D centre Navin
Research Innovation Centre at Surat
DSIR approved R&D Centre
Supports in product addition &
process efficiency in all business units
R&D strength augmented by
Manchester Organics Acquisition
Specialty Chemicals
Introduction of new high value added molecules in portfolio
Entry into newer geographies
Inorganic Fluorides
Introduction of new molecules in portfolio
Entry into newer geographies
Refrigerant
Strong demand for air conditioning and refrigeration equipment
Increasing usage as feedstock in pharma
21
Financial Overview
22
FY15
FY14
Change %
Q4 FY15
Q4 FY14
YoY%
Revenue
546
449
22%
146
124
17%
Raw Material
272
212
74
61
Employee Expenses
61
48
15
12
Other Expenses
150
128
38
38
EBITDA
63
61
18
13
11.6%
13.5%
12.6%
10.7%
Interest Expenses
Depreciation
19
21
Operating PBT
41
35
13
7.59%
7.72%
8.75%
5.21%
Other Income
27
29
11
13
PBT
68
64
23
20
Tax
19
13
49
51
17
18
EBITDA Margin
23
4%
19%
38%
97%
FY15
FY14
Change %
Revenue
592
486
22%
Raw Material
Employee Expenses
Other Expenses
EBITDA
EBITDA Margin
289
228
74
59
156
133
72
66
12.2%
13.6%
Interest Expenses
Depreciation
Operating PBT
Operating PBT Margin
Other Income
PBT
Tax
20
22
49
39
8.24%
7.94%
30
31
78
69
20
15
58
55
24
(4)
-
11
55
66
9.4%
26%
25
Mar15
Mar14
10
561
10
532
12
32
26
33
27
33
88
29
792
57
58
25
742
270
179
68
231
135
55
55
66
110
14
27
3
792
128
57
83
25
25
2
742
26
Mar15
Mar14
10
578
13
10
546
9
27
32
28
33
28
34
89
41
852
57
61
35
779
293
41
116
91
253
41
102
32
55
76
120
28
28
4
852
128
66
90
38
26
3
779
EBITDA (Rs.Crs)
+22%
+4%
546
61
Management Commentary
CRAMS business is
progressing in line
with our expectation
Revenue growth
driven by refrigerants,
Specialty Chemicals &
CRAMS business
EBITDA impacted by
high raw material cost
& power expenses
63
449
FY14
FY15
FY14
FY15
+19%
41
7.7%
7.6%
FY14
FY15
35
FY14
27
FY15
EBITDA (Rs.Crs)
+22%
+9%
592
486
FY14
FY15
72
66
FY14
FY15
+26%
49
7.95%
8.24%
FY15
FY14
FY15
39
FY14
28
Dividend History
Consistent Dividend Payout
15%
21%
32%
33%
31%
Continuous Dividend
since last 10 years
32%
75
14
FY10
15
FY11
15
FY12
FY13
16
FY14
16
FY15
Contact
30
Company :
www.nfil.in
www.sgapl.net