November 13, 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 ended & half year September 30, 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 Un-audited Financial Results for the quarter & half year ended September 30, 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 NIRANJAN Digitally signed by NIRANJAN ARUN KETKAR DN: c=IN, o=Personal, cn=NIRANJAN ARUN KETKAR, serialNumber=f6e3d43132e87f90e3e3cee7b43 ARUN a947fccd1d0785c742be1fe810075794cb7a1, postalCode=421201, 2.5.4.20=1e82b429f36377e053234d0cdfb4f18 41d8ca32372f631fc9f8a996eba06035b, KETKAR st=MAHARASHTRA, title=sanketchauhan1109@gmail.com Date: 2019.11.13 20:36:47 +05'30' Niranjan Ketkar Company Secretary 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, 12A and 14 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 - November 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
H1FY20 Performance Highlights 3
H1FY20: Key Developments The AMET market outperformed on the back of a strong performance registered by the Performance Surfactants segment ROW market maintained its growth momentum Domestic (India) business registered QoQ growth – showing signs of improvement. We expect a better second half. Growth driven by all three customer segments: MNC’s, Regional & Local Emerging trends and diverse product portfolio ensured growth across product segments 4
Volume: H1FY20 Highlights (YoY) Performance Surfactants Specialty Care Products Total Volume +5.7% +10.0% +7.3% 69,690 42,144 111,834 65,944 104,269 38,325 Volume Highlights H1FY19 H1FY20 H1FY19 H1FY20 H1FY19 H1FY20 India Market de-grew -1.2% Africa Middle East Turkey de-grew by 7.3% Rest of the World grew by 19.4% Both Performance & Specialty Care segments logged in growth which was ahead of the Industry growth rate 5
H1FY20 Highlights (YoY) Performance Surfactants Specialty Care Products Total Revenue^ -12.2% -6.1% +5.2% 911 516 1,402 491 1,316 800 Revenue Highlights H1FY19 H1FY20 H1FY19 H1FY20 H1FY19 H1FY20 EBITDA^ PAT +30.0% +6.1% 187 120 176 92 Rs. In Crores H1FY19 H1FY20 H1FY19 H1FY20 As per Ind AS ^Includes other Income 6
Consolidated Profit & Loss Statement Particulars (Rs. In Crores) Q2 FY20 Q2 FY19 Y-o-Y H1 FY20 H1 FY19 Y-o-Y ▪ Decline in revenue is Net Revenue from Operations 648.8 685.3 -5.3% 1,313.8 -6.2% 1,401.4 primarily due to declining Other Income 1.3 1.9 2.6 0.2 fatty alcohol prices. The same Total Revenue 650.1 687.2 -5.4% 1,316.4 1,401.6 -6.1% fell from an avg. rate of Cost of Material Consumed 433.0 483.3 875.9 1,004.8 $1,405/MT to $1,113/MT YoY basis Employee's Benefits Expense 42.8 41.8 88.4 80.0 Other Expenses 85.0 73.3 165.5 140.9 ▪ Average Forex rate in H1FY20 EBITDA 89.3 88.8 0.6% 186.7 175.8 6.2% was Rs. 69.95 per USD versus EBITDA Margin 13.74% 12.92% 14.18% 12.55% Rs 68.48 per USD in H1FY19 Depreciation 15.4 12.8 30.3 25.4 ▪ PAT includes one time EBIT 74.0 76.0 -2.6% 156.4 150.4 4.0% deferred tax gain of Rs 9.43 Finance cost 6.4 7.3 12.4 15.0 crores PBT 67.5 68.7 -1.6% 144.0 135.4 6.4% ▪ Savings on account of Tax expense 0.5 22.4 24.4 43.4 reduction in Tax rate yielded PAT 67.1 46.3 44.8% 119.6 92.0 30.0% savings of Rs 5.85 Crores in PAT Margin 10.32% 6.74% 9.09% 6.57% Q1 which has been captured in Q2 FY20 Other Comprehensive Income 9.9 18.2 8.7 33.9 Total Comprehensive Income 77.0 64.5 19.3% 128.3 126.0 1.9% EPS 18.92 13.07 33.74 25.96 As per Ind AS 7
Consolidated Balance Sheet Particulars (Rs. In Crores) Sept ’19 Mar’19 Particulars (Rs. In Crores) Sept’19 Mar’19 ASSETS EQUITY AND LIABILITIES Property, Plant and Equipment 528.5 511.2 EQUITY Right-of-use assets 38.9 0.0 Equity Share Capital 35.5 35.5 Capital work-in-progress 111.8 82.6 Other Equity 956.8 841.3 Goodwill 2.6 2.5 Total Shareholders Fund 992.3 876.7 Intangible Assets 5.6 5.0 Financial Assets Non-Current Liabilities (i) Investments 0.0 0.0 Financial Liabilities (ii) Loans 7.2 6.9 (i) Borrowings 63.4 89.2 (iii) Other financial assets 0.9 1.9 (ii) Lease Liabilities 20.7 0.0 Deferred Tax Assets (Net) 4.2 4.9 (iii) Other Financial Liabilities 0.3 0.3 Income Tax Assets (Net) 17.0 8.0 Provisions 12.9 10.0 Non-current tax assets 39.8 47.6 Deferred Tax Liabilities (Net) 24.6 32.0 Total Non-Current Assets 756.5 670.6 Other non-current liabilities 0.4 0.8 Total Non-Current Liabilities 122.3 132.3 Current Assets Inventories 352.0 351.3 Current Liabilities Financial Assets Financial Liabilities (i) Trade receivables 417.4 426.8 (i) Borrowings 225.7 164.0 (ii) Cash and cash equivalents 33.4 25.0 (ii) Trade Payables 258.2 305.9 (iii) Bank Balances other than cash and cash equivalents 0.8 0.7 (iii) Lease Liabilities 3.5 0.0 (iv) Loans 0.5 3.7 (iv) Other Financial Liabilities 62.0 71.5 (v) Other Financial Assets 5.9 3.0 Other Current Liabilities 13.8 8.5 Other Current Assets 119.0 86.9 Provisions 3.3 4.1 Current Tax Liabilities (Net) 4.4 5.1 Total Current Assets 929.0 897.4 Total Current Liabilities 570.9 559.0 TOTAL ASSETS 1,685.5 1568.0 TOTAL EQUITY & LIABILITIES 1,685.5 1568.0 As per Ind AS 8
Consolidated Cash Flow Statement Half Year ended Particulars (Rs. In Crores) Sept ’19 Sept ’18 Cash Flow From Operating Activities : Profit After Tax 119.6 92.0 Operating Profit before working Capital changes 183.7 172.9 Net cash flows generated from/(used) in Operating Activities (A) 101.1 85.7 Net cash flows generated from/(used) in Investing Activities (B) -79.2 -75.6 Net cash flows generated from/(used) in Financing Activities (C) -14.1 -7.0 Net Increase/(Decrease) in cash and cash equivalents (A+B+C) 7.8 3.1 Opening cash and cash equivalents 25.0 27.1 Effects of exchange rate changes on the balance of cash and cash equivalents held 0.6 3.0 in foreign currencies Closing cash and cash equivalents 33.4 33.2 9
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