May 28, 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 Audited Financial Results for the quarter & year ended March 31, 2019. 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 Audited Financial Results for the quarter & year ended March 31, 2019. 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 NIRANAJ Digitally signed by NIRANAJAN ARUN KETKAR DN: c=IN, o=Personal, postalCode=421201, st=Maharashtra, AN ARUN 2.5.4.20=f7e5bb867caf9f03bb09d93e43af b26df95463fcdd0c5b0db4de4b3a8bb357 19, serialNumber=f6e3d43132e87f90e3e3cee KETKAR 7b43a947fccd1d0785c742be1fe81007579 4cb7a1, cn=NIRANAJAN ARUN KETKAR Date: 2019.05.28 20:26:53 +05'30' Niranjan Ketkar Company Secretary M. No. A20002 encl: as above Communication Address : Regd. Office: C-49/2, TTC Industrial Area, Rupa Solitaire, Pawne, Navi Mumbai-400 703, India Ground Floor, Unit no. 8, CIN: L39877MH1986PLC039877 Millennium Business Park, Mahape, Ph: +91-22-27616666 Navi Mumbai, 400 710 Fax : +91-22-27615883/ 27615886 Ph: +91-22-33063700 e-mail : galaxy@galaxysurfactants.com Website: www.galaxysurfactants.com
Galaxy Surfactants Limited Investor Presentation - May 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
Q4 & FY19 Performance Highlights 3
FY19: 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: FY19 Highlights (YoY) Performance Surfactants Specialty Care Products Total Volume +4% +19% +9% 1,35,337 79,374 2,14,711 1,30,596 1,97,429 66,833 Volume Highlights FY18 FY19 FY18 FY19 FY18 FY19 India Growth 12% Africa Middle East Turkey de-grew by 5% Rest of the World grew by 29% AMET Markets decline recouped by high growth in Specialty care products 5
FY19 Highlights (YoY) Performance Surfactants Specialty Care Products Total Revenue^ +24% +13% +8% 1,741 1,027 2,768 1,613 2,444 831 Revenue Highlights FY18 FY19 FY18 FY19 FY18 FY19 EBITDA^ PAT +20% +21% 358 191 298 158 Rs. In Crores FY18 FY19 FY18 FY19 As per Ind AS ^Includes other Income 6
Consolidated Profit & Loss Statement Particulars (Rs in Cr) Q4 FY19 Q4 FY18 Y-o-Y FY19 FY18 Y-o-Y ▪ Average Forex rate in FY19 was Rs. 69.79 per USD versus Net Revenue from Operations 682.0 643.6 6.0% 2,763.0 2,433.9 13.5% Rs 64.4 per USD in FY18 Other Income 3.5 1.6 4.7 10.1 Total Revenue 685.5 645.1 6.3% 2,767.7 2,444.1 13.2% ▪ The forex movement had an Cost of Material Consumed 466.2 462.5 1,948.1 1,751.1 estimated positive impact of Rs. 4.87 cr on the EBITDA in 43.8 38.2 164.6 146.0 Employee's Benefits Expense FY19 Other Expenses 76.7 73.0 296.9 249.1 EBITDA 98.8 71.4 38.3% 358.1 297.9 20.2% ▪ Other expenses are higher on account of increase in EBITDA Margin 14.4% 11.1% 12.9% 12.2% Freight cost and Power & Depreciation 12.9 12.3 51.2 48.5 Fuel costs EBIT 85.9 59.1 45.2% 306.9 249.3 23.1% Finance cost 7.9 6.7 30.0 30.6 PBT 78.0 52.5 48.6% 276.9 218.8 26.5% ▪ The Other comprehensive income includes a gain of Rs. Tax expense 20.9 12.5 85.9 60.7 18.2 crores in FY19 arising PAT 57.1 40.0 42.6% 191.0 158.0 20.9% from translation of the PAT Margin 8.3% 6.2% 6.9% 6.5% subsidiary balance sheet items in USD on account of Other Comprehensive Income -3.3 0.2 18.3 -1.4 depreciating rupee Total Comprehensive Income 53.8 40.2 209.3 156.7 EPS 16.11 11.29 53.87 44.57 As per Ind AS 7
Consolidated Balance Sheet Particulars (Rs. In Crores) March’19 March’18 Particulars (Rs. In Crores) March’19 March’18 EQUITY AND LIABILITIES ASSETS Property, Plant and Equipment 511.2 439.9 EQUITY Capital work-in-progress 82.6 24.9 Equity Share Capital 35.5 35.5 Goodwill Other Equity 2.5 2.4 841.3 683.3 Intangible Assets 5.0 4.5 Total Shareholders Fund 876.7 718.8 Financial Assets (i) Investments 0.0 0.1 Non-Current Liabilities (ii) Loans Financial Liabilities 6.9 5.7 (ii) Other financial assets 1.9 1.1 (i) Borrowings 89.2 72.2 Deferred Tax Assets (Net) 4.9 3.4 (ii) Other Financial Liabilities 0.3 0.3 Income Tax Assets (Net) 8.0 10.5 Provisions 10.0 6.1 Non-current tax assets Deferred Tax Liabilities (Net) 47.6 44.0 32.0 27.7 Total Non-Current Assets 670.6 536.5 Other non-current liabilities 0.8 0.9 Total Non Current Liabilities 132.3 107.2 Current Assets Current Liabilities Inventories 351.3 345.6 Financial Assets Financial Liabilities (i) Trade receivables 426.8 418.2 (i) Borrowings 164.0 219.7 (ii) Cash and cash equivalents (ii) Trade Payables 25.0 27.1 305.9 327.8 (iii) Other Financial Liabilities (iii) Bank Balances other than cash and cash equivalents 0.7 0.5 71.5 60.0 (iv) Loans 3.7 4.3 Other Current Liabilities 8.5 17.8 (v) Other Financial Assets 3.0 5.0 Provisions 4.1 4.1 Other Current Assets Current Tax Liabilities (Net) 86.9 118.1 5.1 0.1 Total Current Assets 897.4 918.9 Total Current Liabilities 559.0 629.4 TOTAL ASSETS 1,568.0 1,455.4 TOTAL EQUITY & LIABILITIES 1,568.0 1,455.4 As per Ind AS 8
Standalone Profit & Loss Statement Particulars (Rs in Cr) Q4 FY19 Q4 FY18 Y-o-Y FY19 FY18 Y-o-Y Net Revenue from Operations 492.3 451.8 9.0% 1,996.4 1,684.2 18.5% Other Income 3.8 1.1 35.9 13.0 Total Revenue 496.0 452.8 9.5% 2,032.3 1,697.1 19.7% Cost of Material Consumed 341.6 334.3 1,432.7 1,237.1 Employee's Benefits Expense 23.7 19.1 87.3 75.4 Other Expenses 56.4 51.7 208.7 172.2 EBITDA 74.4 47.8 55.6% 303.5 212.5 42.8% EBITDA Margin 15.0% 10.6% 14.9% 12.5% Depreciation 7.5 7.0 28.7 27.5 EBIT 66.9 40.8 63.9% 274.8 185.0 48.6% Finance cost 5.7 4.0 20.4 20.6 PBT 61.2 36.8 66.3% 254.4 164.4 54.8% Tax expense 21.1 9.5 85.9 52.0 PAT 40.1 27.2 47.2% 168.5 112.4 49.9% PAT Margin 8.1% 6.0% 8.3% 6.6% Other Comprehensive Income -0.6 0.8 -0.5 -0.7 Total Comprehensive Income 39.5 28.1 167.9 111.7 EPS 11.31 7.68 47.51 31.71 As per Ind AS 9
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