EARNINGS PRESENTATION | Q4-FY18 / FY18 INVESTOR PRESENTATION | - - PowerPoint PPT Presentation

INVESTOR PRESENTATION | MARCH2018 EARNINGS PRESENTATION | Q4-FY18 / FY18

Financials - FY18

SOLVENT EXTRACTION & EDIBLE OIL The product basket is a mix of Blended

• il, Mustard oil and Vanasphat Ghee

DISTILLATION Manufactures a range of country and IMFL liquor across 9 main brands of the company. REAL ESTATE The projects undertaken in Bhatinda are namely Ganpati Enclave and DD Mittal Towers.

Product Offerings Company Overview

• Founded in 1976, BCL Industries & Infrastructure Ltd is a part of the Mittal Group founded by Shri D. D. Mittal . Now under the

stewardship of Mr. Rajinder Mittal , the company has now grown into an INR 1,000 Crore business empire.

• The company is a diversified conglomerate in manufacturing and development with business interests spread across a variety of

industry verticals namely Solvent Extraction and Edible Oil, Distillation and Real Estate.

• The market Cap of the company as on 31st March, 2018 was INR 2,190 Mn.

SOLVENT EXTRACTION & EDIBLE OIL Engaged in the business of manufacturing

• f Vanaspathi, Refined oil, and oil &

solvent extraction from seeds and rice. DISTILLATION Engaged in the business of manufacturing

• f Extra Neutral Alcohol (ENA) and

bottling of liquor in PML and IMFL in Punjab. REAL ESTATE Undertaken two large real estate projects in Bhatinda, Punjab

Executive Summary

2 | FY17

Business Overview

Revenue INR 8,576 Mn EBITDA INR 536 Mn PAT INR 178 Mn Gross Block INR 2,198 Mn

Company at a glance

Edible Oil 65% Distillation 33% Real Estate 3%

• Founded in 1976, BCL Industries & Infrastructure Ltd is a part
• f the Mittal Group, founded by Shri D. D. Mittal. Now under

the stewardship of Mr. Rajinder Mittal, the company has now grown into an INR 1,000 Crore business empire.

• BCL is one of the largest vertically integrated agro-based

edible oil player in India with a gross annual turnover of more than INR 8,500 Mn and a total management experience of nearly four decades.

• The company has transformed from a small oil mill to one of

the most modern and fully integrated rice and edible oil complexes in India with a processing capacity of 1,000 Metric Tonnes per day.

• The company forayed into the business of distillation of

alcohol in the year 2006 in partnership with Pioneer Industries Ltd with manufacturing plant in Pathankot.

• The company has a balance sheet size of nearly INR 5,000 Mn

with a scalable business model which provides revenue visibility of nearly INR 10,000 Mn post the expansion. Revenue Growth (INR Mn) Segmental Revenue Break up - FY18

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6,755 5,329 6,713 8,576 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 9,000 10,000 FY15 FY16 FY17 FY18

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FINANCIAL OVERVIEW

FINANCIAL OVERVIEW

Key Financial Highlights

Q4-FY18 Financial Performance:

• Total Income: INR 2,326 Mn YoY Growth 1.7%
• EBITDA: INR 131 Mn YoY Growth 79.5%
• EBITDA Margin: 5.63% YoY Growth 244 Bps
• Net Profit: INR 47 Mn YoY Growth 840.0%
• PAT Margin: 2.02% YoY Growth 180 Bps
• Diluted EPS: INR 2.53 YoY Growth 666.7%

FY18 Financial Performance:

• Total Income: INR 8,576 Mn YoY Growth 26.9%
• EBITDA: INR 536 Mn YoY Growth 29.8%
• EBITDA Margin: 6.25% YoY Growth 14 Bps
• Net Profit: INR 178 Mn YoY Growth 81.6%
• PAT Margin: 2.08% YoY Growth 63 Bps
• Diluted EPS: INR 9.82 YoY Growth 42.3%

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Key Operational Highlights

Q4-FY18 Operational Highlights: Highest Ever Revenue:

• Buoyed by continuous increasing demands in edible oils and Govt. constant push of decreasing imports, BCL

surpasses the magical figure of INR 8500 Mn for the financial year 2017-2018 as its highest ever revenue in its

• perational span of 42 years. The year 2017-2018 also witnessed the highest ever EPS, EBIDTA and Net Profit in

BCL’s Corporate history.

Edible Oil:

• With continuous thrive by the R&D Lab of BCL in perfection of the edible oil quality, it has continued to cater to the

market in 2017-2018 not just through its own established brands but also processing for Giant players in the edible

• il field to the likes of Bunge, US and Markfed Punjab.
• BCL continues to be the favourite supplier in 2017-2018 for De-oiled rice bran, mustard cake, DDGS etc to

multinational giants including Cargill and Godrej Agrovet.

Distillery:

• BCL places the order to Praj Industries Ltd via its subsidiary Svaksha Distillery Ltd for India’s largest grain based

Distillery of 200KLPD at Kharagpur, West Bengal.

• BCL in its constant endeavour of preserving the natural resources with its R&D Department continues to be the

trend setter in Distillery Industry by setting record standards of improved water efficiency to 7-8 litres per litre of ENA against market standard of 11-12 litres.

• BCL through its R&D Lab achieved a new market standard of 4.5-5% impurities against market standard of 6-7%

leading to increase in revenues IN 2017-2018.

• BCL expansion plant of 100 KLPD Bathinda operated at 110-115% capacity utilisation during the period 2017-2018.

BCL is confident to continue its journey with double digit growth post the magical performance in 2017-2018 and greater than before market demand both in the Edible Oil & Distillery sectors for the period to follow.

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Particulars (INR Mn) Q4-FY18 Q4-FY17 Y-o-Y Q3-FY18 Q-o-Q Total Income* 2,326 2,287 1.7% 2,352 (1.1)% Total Expenses 2,195 2,214 (0.9)% 2,243 (2.1)% EBITDA 131 73 79.5% 109 20.2% EBITDA Margins (%) 5.63% 3.19% 244 Bps 4.63% 100 Bps Depreciation 28 34 (17.6)% 16 75.0% Interest 36 34 5.9% 36 (3)% Exceptional Item

• NA

NA PBT 67 5 1,240.0% 57 17.5% Tax (20)

• NA

(9) 122.2% Prior Period Items

• NA

NA Profit After tax 47 5 840.0% 48 NA PAT Margins (%) 2.02% 0.22% 180 Bps 2.04% (2) Bps Other Comprehensive Income

• NA

NA Total Comprehensive Income 47 5 840.0% 48 NA Diluted EPS(INR) 2.53 0.33 666.7% 3.38 (25.1)%

Quarterly Standalone Income Statement

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*Includes other income Note: All numbers are as per Ind-As

Particulars (INR Mn) FY18 FY17 Y-o-Y Total Income* 8,576 6,760 26.9% Total Expenses 8,040 6,347 26.7% EBITDA 536 413 29.8% EBITDA Margins (%) 6.25% 6.11% 14 Bps Depreciation 106 85 24.7% Interest 213 214 NA Exceptional Item

• (1)

NA PBT 217 113 92.0% Tax (39) (15) 160.0% Prior Period Items

• NA

Profit After tax 178 98 81.6% PAT Margins (%) 2.08% 1.45% 63 Bps Other Comprehensive Income (3)

• NA

Total Comprehensive Income 175 98 78.6% Diluted EPS(INR) 9.82 6.90 42.3%

Consolidated Income Statement (Ind-As)

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*Includes other income

Particulars (INR Mn) FY15 FY16 FY17** FY18** Total Income* 6,830 5,329 6,760 8,576 Total Expenses 6,402 5,023 6,347 8,040 EBITDA 428 306 413 536 EBITDA Margins (%) 6.27% 5.74% 6.11% 6.25% Depreciation 83 78 85 106 Interest 243 140 214 213 Exceptional Item

• (1)
• PBT

102 88 113 217 Tax (25) (19) (15) (39) Prior Period Items (8) (4)

• Profit After tax

69 65 98 178 PAT Margins (%) 1.01% 1.22% 1.45% 2.08% Other Comprehensive Income

• (3)

Total Comprehensive Income 69 65 98 175 EPS 4.89 4.56 6.90 9.82

Historical Consolidated Income Statement

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*Includes other income ** As per IND-AS

Particulars (INR Mn) FY17 FY18 ASSETS Non-Current Assets Property, Plant & Equipment 850 1,355 Capital Work in progress 540 50 Goodwill on consolidation

• 2

Non Current Investments 29 31 Long-term Loans and Advances

• Other non-current assets

13 13 Sub Total Non Current Assets 1,432 1,451 Current Assets Inventories 2,630 2,624 Investments 1 307 Trade Receivables 471 421 Cash and Cash Equivalents 22 53 Other Bank Balances 166

• Loans
• 9

Other Current Assets 86 95 Sub Total Current Assets 3,376 3,509 TOTAL ASSETS 4,808 4,960 Particulars (INR Mn) FY17 FY18 EQUITY AND LIABILITIES Equity Share Capital 142 157 Other Equity 835 1,160 Non-controlling interests

• 1

Total Equity 977 1,318 Non Current Liabilities Borrowings 1,078 990 Other Financial Liabilities 117 31 Provisions 2 13 Deferred Tax Liabilities (net) 73 78 Sub Total Non Current Liabilities 1,270 1,112 Current Liabilities Borrowings 1,093 1,420 Trade Payables 1,333 1,011 Other Financial Liabilities 109 49 Other current Liabilities 3 11 Provisions 23 39 Sub Total Current Liabilities 2,561 2,530 TOTAL EQUITY AND LIABILITIES 4,808 4,960

Consolidated Balance Sheet (Ind-AS)

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Capital Market Data

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Promoter 56% Public 44%

Shareholding Pattern as on 31st March, 2018 Price Data (31st March - 2018) Face Value (INR) 10.0 Market Price (INR) 139.45 52 Week H/L (INR) 195.7/61.3 Market Cap (INR Mn) 2,190 Equity Shares Outstanding (Mn) 14.15 1 Year Avg. trading volume ('000) 39.3

• 10%

40% 90% 140% 190% 240% Apr/17 May/17 Jun/17 Jul/17 Aug/17 Sep/17 Oct/17 Nov/17 Dec/17 Jan/18 Feb/18 Mar/18 BCL BSE Sensex

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this

• presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts

and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of BCL Industries Ltd. which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward- looking statements to reflect future events or developments. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from. This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner. Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and 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

• f the contents of, or any omission from, this Presentation is expressly excluded. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal
• r company capacity of the Company under review.

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• Mr. Anuj Sonpal, CEO

Tel: +91-22-49039500 Email: bcl@valoremadvisors.com

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Disclaimer

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FINANCIAL OVERVIEW

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