February 01, 2019 National Stock Exchange of India Ltd., BSE Limited, Listing Compliance Department Listing Department, Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Bandra (East) Mumbai- 400001 Mumbai – 400 051 Scrip Symbol: GALAXYSURF Scrip Code: 540935 Sub: Investor presentation & earnings release on Un-Audited Financial Results for the quarter & nine months ended December 31, 2018. Ref: Regulation 30 (2) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/ Madam, We are enclosing Investor Presentation & earnings release on Un-audited Financial Results for the quarter & nine ended December 31, 2018. The information is also hosted in announcement section on the website of the Company at www.galaxysurfactants.com . We request you to take the same on record. Yours faithfully, For Galaxy Surfactants Limited Niranjan Ketkar Company Secretary M. No. A20002 encl: as above Regd. Office: C-49/2, TTC Industrial Area, Pawne, Navi Mumbai-400 703, India. CIN: L39877MH1986PLC039877 Ph: +91-22-27616666 Fax : +91-22-27615883/ 27615886 E-mail : galaxy@galaxysurfactants.com Website: www.galaxysurfactants.com
Galaxy Surfactants Ltd. Investor Presentation - February 2019
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Galaxy Surfactants 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. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. 2
Q3 & 9M FY19 Performance Highlights 3
9MFY19: Key Developments Domestic (India) Business growth exceeds Market Growth rate Growth driven by all three customer segments: MNC’s, Regional & Local AMET performance remains subdued, owing to a slowdown in Egypt The ROW market outperformed on the back of a strong performance registered by the specialty care products segment Witnessing Traction in Business 4
Volume: 9MFY19 Highlights (YoY) Performance Surfactants Specialty Care Products Total Volume +20% +7% +1% 97,698 59,563 157,261 96,635 146,381 49,746 Volume Highlights 9MFY18 9MFY19 9MFY18 9MFY19 9MFY18 9MFY19 India Growth 13% Africa Middle East Turkey de-grew by 8% Rest of the World grew by 29% AMET Markets decline recouped by high growth in Specialty care products 5
9MFY19 Highlights (YoY) Performance Surfactants Specialty Care Products Total Revenue^ +11% +16% +24% 1,319 763 2,082 1,184 1,799 615 Revenue Highlights 9MFY18 9MFY19 9MFY18 9MFY19 9MFY18 9MFY19 EBITDA^ PAT +15% +13% 259 134 226 118 Rs. In Crores 9MFY18 9MFY19 9MFY18 9MFY19 As per Ind AS ^Includes other Income 6
Consolidated Profit & Loss Statement Particulars (Rs in Cr) Q3 FY19 Q3 FY18 Y-o-Y 9M FY19 9M FY18 Y-o-Y FY18 ▪ Average Forex rate in 9MFY19 was Rs. 69.57 per Net Revenue from Operations 679.5 597.9 2,081.0 1,790.4 2,433.9 USD versus Rs 64.43 per USD Other Income 1.0 2.6 1.2 8.4 10.1 in 9MFY18 Total Revenue 680.5 600.4 13.3% 2,082.2 1,798.7 15.8% 2,444.0 ▪ Cost of Material Consumed 477.1 426.6 1,481.9 1,288.6 1,751.1 The forex movement had an estimated positive impact of Employee's Benefits Expense 40.8 35.2 120.8 108.5 146.0 Rs. 6 Cr on the EBITDA in Other Expenses 79.1 60.7 220.2 175.1 249.1 9MFY19 EBITDA 83.5 78.0 7.0% 259.3 226.5 14.5% 297.8 ▪ Other expenses are higher EBITDA Margin 12.3% 13.0% 12.5% 12.6% 12.2% on account of increase in 12.9 12.2 38.3 36.3 48.5 Depreciation Freight cost and Power & EBIT 70.6 65.8 7.2% 221.0 190.2 16.2% 249.3 Fuel costs Finance cost 7.1 7.6 22.2 23.9 30.6 PBT 63.4 58.2 9.1% 198.9 166.3 19.6% 218.8 ▪ The Other comprehensive income includes a gain of Rs. Tax expense 21.6 16.9 65.0 48.3 60.7 21.5 crores in 9MFY19 PAT 41.8 41.3 1.3% 133.9 118.0 13.5% 158.0 arising from translation of PAT Margin 6.1% 6.9% 6.4% 6.6% 6.5% the subsidiary balance sheet Other Comprehensive Income (12.4) 0.0 21.5 (1.6) (1.4) items in USD on account of depreciating rupee Total Comprehensive Income 29.5 41.3 155.4 116.5 156.7 EPS 11.80* 11.66* 37.76* 33.29* 44.6 As per Ind AS *Not Annualized 7
Standalone Profit & Loss Statement Particulars (Rs in Cr) Q3 FY19 Q3 FY18 Y-o-Y 9M FY19 9M FY18 Y-o-Y FY18 ▪ The Other income Net Revenue from Operations 494.2 405.4 1,504.1 1,232.4 1,684.2 includes a gain of Rs. 32.1 Other Income (0.8) 0.3 32.1 11.8 13.0 crores in 9MFY19 arising Total Revenue 493.4 405.8 21.6% 1,536.2 1,244.2 23.5% 1,697.1 from revaluation of 352.2 295.1 1,091.2 902.8 Cost of Material Consumed 1,237.1 financial instruments used for investment in Employee's Benefits Expense 20.9 17.8 63.6 56.3 75.4 operating subsidiaries Other Expenses 55.8 40.8 152.3 120.5 172.2 EBITDA 64.5 52.1 23.9% 229.1 164.7 39.1% 212.5 EBITDA Margin 13.1% 12.8% 14.9% 13.2% 12.5% Depreciation 7.1 6.9 21.2 20.5 27.5 EBIT 57.4 45.2 27.1% 207.9 144.2 44.2% 185.0 Finance cost 4.7 5.1 14.7 16.6 20.6 PBT 52.7 40.0 31.7% 193.2 127.6 51.4% 164.4 Tax expense 18.9 13.9 64.9 42.4 52.0 PAT 33.9 26.1 29.6% 128.3 85.2 50.7% 112.4 6.9% 6.4% 8.4% 6.8% PAT Margin 6.6% EPS 9.55* 7.37* 36.20* 24.03* 31.71 *Not Annualized As per Ind AS 8
Consolidated Balance Sheet Particulars (Rs. In Crores) Sept’18 March’18 Particulars (Rs. In Crores) Sept’18 March’18 ASSETS EQUITY AND LIABILITIES Property, Plant and Equipment 451.6 439.9 EQUITY Capital work-in-progress 77.2 24.9 35.5 35.5 Equity Share Capital Goodwill 2.6 2.4 Other Equity 779.4 683.3 Total Shareholders Fund 814.8 718.8 Intangible Assets 4.2 4.5 Financial Assets Non-Current Liabilities (i) Investments 0.1 0.1 Financial Liabilities (ii) Loans 0.3 0.2 (i) Borrowings 89.5 72.2 (ii) Other financial assets 9.6 6.5 0.3 0.3 (ii) Other Financial Liabilities Deferred Tax Assets (Net) 3.5 3.4 6.7 6.1 Provisions Income Tax Assets (Net) 8.7 10.5 32.3 27.7 Non-current tax assets 53.3 44.0 Deferred Tax Liabilities (Net) Total Non-Current Assets 611.0 536.5 Other non-current liabilities 0.9 0.9 Total Non Current Liabilities 129.6 107.2 Current Assets Inventories 375.1 345.6 Current Liabilities Financial Assets Financial Liabilities (i) Trade receivables 459.4 418.2 (i) Borrowings 269.6 219.7 (ii) Cash and cash equivalents 33.2 27.1 296.4 327.8 (ii) Trade Payables (iii) Bank Balances other than cash and cash 0.7 0.5 56.2 60.0 (iii) Other Financial Liabilities equivalents 20.0 17.8 Other Current Liabilities (iv) Loans 0.2 0.3 Provisions 2.7 4.1 (v) Other Financial Assets 8.9 9.0 11.2 0.1 Current Tax Liabilities (Net) Other Current Assets 112.0 118.1 Total Current Liabilities 656.0 629.4 Total Current Assets 989.4 918.9 TOTAL ASSETS 1,600.5 1,455.4 TOTAL EQUITY & LIABILITIES 1,600.5 1,455.4 As per Ind AS 9
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