M A K I N G M A T E R I A L S M A T T E R INVESTOR PRESENTATION December ’2019
CONTENTS 1 MURUGAPPA GROUP & CUMI - OVERVIEW 2 BUSINESS SEGMENTS 3 FINANCIALS, STRATEGY & CLOSING REMARKS
CONTENTS 1 MURUGAPPA GROUP & CUMI - OVERVIEW 2 BUSINESS SEGMENTS 3 FINANCIALS, STRATEGY & CLOSING REMARKS
M A K I N G M A T E R I A L S M A T T E R
MURUGAPPA GROUP : BUSINESS PORTFOLIO Agriculture Engineering Finance Diversified
MURUGAPPA GROUP : GLOBAL PRESENCE India • 41 Locations All Major Segments USA Russia, China Nutraceuticals, Electro Minerals, France Industrial Abrasives Industrial Chains Ceramics Tunisia Phosphoric Marketing & Acid ME Distribution Bases in Thailand Materials, Abrasives Materials, Abrasives Argentina, Australia, Brazil, Netherlands, Philippines, South Australia Africa, Thailand, UK, South Africa Chile Industrial Ceramics USA Zirconia, Phosphoric Astaxanthin Acid
MURUGAPPA GROUP : VALUES & BELIEF
CARBORUNDUM UNIVERSAL LIMITED : 65 Years of Industry Leadership INR 26.6 Bn Revenue USD 380 Mn ABRASIVES FY 19 : 14% growth YOY INR 3.6 Bn PBIT ELECTRO INDUSTRIAL USD 52 Mn MINERALS CERAMICS FY 19: 10% growth YOY INR 60.9 Bn Market Cap REFRACTORIES USD 870 Mn As on 27 Nov 19 28 20,000 + 5000+ Locations Varieties Employees M A K I N G M A T E R I A L S M A T T E R
CUMI – A MATERIALS SCIENCE COMPANY Surface Engineering Materials & Process Engineering Heat Wear & Materials Containment Corrosion Science & Protection solutions Management Materials Science Materials Materials Physics Chemistry Mission Critical Applications Materials science - an interdisciplinary field involving properties of matter and applications to various areas of science and engineering . Includes elements of applied physics and chemistry, as well as chemical, mechanical, civil and electrical engineering. M A K I N G M A T E R I A L S M A T T E R
WE ENGINEER MATERIALS SCIENCE SOLUTIONS FOR AN ENDURING PLANET Abrasives Surface Engineering Electro minerals Materials Heat Wear & Containment Science Corrosion & Ceramics & Refractories Protection Solutions Management Composites Mission Critical Applications M A K I N G M A T E R I A L S M A T T E R
Milestones CUMI – HISTORY 1954 - 63 Tripartite agreement between Carborundum Company, USA, Universal Grinding Wheel Company, UK and the Murugappa Group, India. Acquired a Coated Abrasives facility from Ajax Products Pvt. Ltd. Bonded Abrasives facility set up at Chennai, India. Coated Abrasives facility from Ajax Bauxite Mining at Bhatia Bauxite mining at Bhatia, Gujarat, India. Products Pvt. Ltd. MMTCL as 1964 - 73 Group plc Manufacture of Super Refractories at Chennai, India. Brown Aluminium Oxide grains plant at Edappally, India. Super Refractories at Brown Aluminium Oxide grains Calcination facility at Okha, Gujarat, India. Chennai plant at Edappally, India. 1974 - 83 Acquisition of Eastern Abrasives Ltd, a Coated Abrasives manufacturer in Kolkata, India. Second Bonded Abrasives plant at Hosur, near Bengaluru, India. Eastern Abrasives Ltd, Bonded Abrasives at MMTCL,Ranipet,India Kolkatta,India Hosur Established for ceramic fibres.
CUMI – HISTORY 1984 - 93 Silicon Carbide plant at Koratty Expansion of Bonded Abrasives plant at Hosur , India with a modern facility for vitrified grinding wheels. Silicon Carbide plant at Koratty, India & Refractories plant at Ranipet, India. Industrial Ceramics plant at Hosur, India. Industrial Ceramic Acquisition of Wendt Plant at Hosur Acquisition of 40% interest in Wendt (India) Ltd., a company manufacturing Super Abrasives . 1994 - 03 12 MW Hydel project at Maniyar , Kerala, India for manufacture of Brown Aluminium Oxide grains. Hydel Project at Maniyar Acquired a controlling interest in Sterling Abrasives Limited, Ahmedabad, India. Acquired a controlling interest in Cutfast Abrasive Tools Limited and Cutfast Polymers Limited and subsequent mergers. Established CUMI America Inc., USA & CUMI (Australia) Pty Ltd. Maraimalai Nagar, Thermal Power Plant,Nallur Established a 5.5 MW natural gas based thermal power plant in Nallur, Tamil Nadu, Tamil Nadu India, through SEDCO. Acquired Prodorite Anti-Corrosives Ltd. , Cloth processing facility at Maraimalainagar, Tamil Nadu. Sterling Abrasives Limited, CUMI (Australia) Pty Ltd. Ahmedabad
CUMI – HISTORY 2004 - 13 Monolithic Refractory facility in Jabalpur, India. Volzhsky Abrasives Works, Russia . Manufacturing facility in China Foskor Zirconia (Pty) Ltd, South Africa. Thin Wheels at Uttarkhand, India Volzhsky Abrasives Works, Russia Thukela Refractories Isithebe Pty Ltd, South Africa Super Refractories plant II at Serkadu, India. Thin Wheels at Uttarkhand, India. Coated Abrasives plant at Chennai, India. Silicon Carbide micro grit plant in Koratty, India. Refractory facility in Establishment of CUMI Middle East. Jabalpur, India. 2014 - 19 Toll manufacturing model operations commenced in China. Amalgamation of Cellaris Refractories with CUMI . Centre of Excellence for Research in Technical Ceramics Commissioned three fusion plants at its Electro-mineral Complex at Cochin, India. 5 of CUMI’s Plants were awarded with JIPM Award for Excellence in TPM Consistency / TPM Excellence, Category ’A’
Our Leadership Team M M Murugappan Chairman N Ananthaseshan Managing Director Ninad Gadgil Rajesh Khanna Arul Rajkumar Jayan P S Sergey Kostrov V G Rajendran Abrasives Ceramics Electro Minerals Human Resources VAW Refractories
KEY SUBSIDIARIES & JOINT VENTURES Volzhsky CUMI Australia Sterling Foskor Zirconia Murugappa Wendt Abrasive Abrasives Morgan India Works Thermal Ceramics Subsidiary Subsidiary Subsidiary Subsidiary Joint Venture Associate Minerals, Abrasives Industrial Ceramics Bonded Non Std Minerals Thermal Ceramics Super Abrasives & Refractories Speciality Range Southern Energy Development Corpn Ltd
GLOBAL FOOTPRINT RUSSIA USA CHINA EUROPE UAE THAILAND AUSTRALIA INDIA SOUTH AFRICA Manufacturing Facility Marketing Office
DOMESTIC PRESENCE TVT BONDED SPR COATED HSR BONDED UTK BONDED Roorkee WENDT STERLING EAL - COATED MMN RESIN BONDED BONDED Okha, Bhatia Jabalpur Kolkata JABALPUR HOSUR RANIPET EMD - KOCHI TPM Consistency Award – SPR Plant • Hosur (2) TPM Consistency Award – MMN Plant • Thiruvottriyur Kakanad TPM Excellence Award – HSR IC • Ranipet (2) (3) Edapally Maraimalai Nagar TPM Excellence Award – HSR ABR • Koratty Sriperumbudur TPM Excellence Award – TVT Plant • Manivar JIPM – TPM awarded
A RESILIENT ORGANISATION BUILT ON STRONG FUNDAMENTALS APPLICATION HYDEL POWER ABRASIVES 7 DSIR LABS NEW-AGE MATERIALS DEVELOPMENT ORGANIC & INORGANIC SURFACE TECHNOLOGY BAUXITE MINE ELECTRO MINERALS NEW PROCESSES CENTRE GRWOTH 60 + MATERIALS & CERAMICS; REFRACTORIES OPERATIONAL EXCELLENCE THERMAL POWER DESIGN THINKING TECHNOLOGY PLATFORMS COMPOSITES DIVERSITY IN SEGMENTS; STRONG PEOPLE STRENGTHENING THE CORE: BUILDING MATERIALS FOR THE STRONG BACKWARD GEOGRAPHY & CAPABILITIES DRIVING FUTURE INTEGRATION CUSTOMERS INNOVATION M A K I N G M A T E R I A L S M A T T E R
MARKET POSITION CEMENTED OVER TIME CORE STRENGTHS ACCOMPLISHMENTS 1 10,000+ Retail Touch Points Largest Abrasives Player in India 5 Plants with JIPM Certification 1 Largest SiC Producer in Europe 7 DSIR Labs 260 Second largest Metallized Cylinders Patents 2 Producers in the World 5 Overseas Marketing Bases Second largest player in Wear 2 Protection for Coal Washeries in 45% Revenues from Overseas locations Australia M A K I N G M A T E R I A L S M A T T E R
BUSINESS PORTFOLIO CUMI Revenue : INR 26.5 bn FY -19 EBIT : INR 3.8 bn Financials Capital Employed : INR 18.1 bn Electrominerals Ceramics & Refractories Abrasives Revenue : INR 11.2 bn Revenue : INR 6.0 bn Revenue : INR 10.2 bn EBIT : INR 1.4 bn EBIT : INR 1.1 bn EBIT : INR 1.3 bn Capital Employed: INR 5.18 bn Capital Employed: INR 4.05 bn Capital Employed: INR 6.06 bn Revenue EBIT 21% 29% 37% 42% 37% 34%
CUMI – SHAREHOLDING PATTERN 2% 4% Promoters 6% Financial Institutional Investors 42% Mutual Funds 22% FII Body Corporates Insurance Companies 24% Equity Share Capital INR189.3 Mn As on Oct 2019 M A K I N G M A T E R I A L S M A T T E R
SOLUTION DEVELOPMENT – ACROSS 60+ TECHNOLOGY PLATFORMS Materials for the Future 3 Appli- Adjacent Core Transformational cation 2 Cotton Polyester C Boron N Oxides Graphene Metals Materials Diamond Paper Glass Fibre Carbide PF Resin Nitride Particle Size Firing/Sin Electro Slip 1 Molding Fusion Processing Capabilities Dispersion tering plating casting Polymer Surface Vacuum Powder Tape Metallization Processing Modification Forming processing casting M A K I N G M A T E R I A L S M A T T E R
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