Q4 PERFORMANCE, 2018 - 19 SKIPPER LIMITED INVESTOR PRESENTATION Broad-basing the pyramid
SKIPPER LIMITED INVESTOR PRESENTATION About Us
W H O W E A R E Skipper Limited is India’s largest and world's most competitive integrated transmission tower manufacturing company 3
K E Y FA C T S • Flagship company of • Four Power Grid • Widely respected the S.K. Bansal Group Corporation of India- player; awarded Largest (incorporated 1981). approved transmission Tower Supplier Award by Power Grid for 3 rd tower and pole • Angle rolling, tower, manufacturing plants consecutive year accessories and fastener (combined engineering manufacture coupled • Awarded Best Industry capacity 300,000 MTPA) with EPC line in Water Resources construction • Among the most sector by Central Board effective knowledge of Irrigation and Power. • One of India’s largest pools in the sector and fastest growing comprising 2,450+ polymer pipes & fittings members companies 4
SKIPPER LIMITED INVESTOR PRESENTATION Key Management
B O A R D O F D I R E C T O R S – W H O L E T I M E Yash Pall Jain Sajan Kumar Bansal Sharan Bansal Devesh Bansal Siddharth Bansal Director Managing Director Director Director Director He is the driving force A mechanical With a Master's in Heading the company's He is a B.com graduate behind the company's engineering graduate, International Business first diversification into from Punjab University exponential growth since he is heading the Tower degree under his belt, non steel products, he is and has an experience the beginning of the new manufacturing and EPC he is heading the Tubes responsible for the of over 35 years in millennium. Under his business of the and Tubular products Polymer product various leading Industrial visionary leadership, the company. He's taken divisions of the manufacturing divisions. houses. In his corporate company has grown from the company to a company. He is also He has a degree in career he has held a single unit, single leadership position in responsible for the Entrepreneurship from several responsible and product manufacturer to this industry. group's upstream University of Illinois, USA. important portfolios. multi-unit, multi product expansions. manufacturing, ranging from Steel to Polymer. 6
B O A R D O F D I R E C T O R S - I N D E P E N D E N T Sri Pramod Kumar Mrs. Mamta Binani Mr. Joginder Pal Dua Mr. Ashok Bhandari Mr. Amit Kiran Deb Shah C.A Immediate Past Ex CMD - Allahabad C. A. IAS (Retd.), He is a Fellow President ICSl Bank Chairman member of the He has profound Institute of She is one of the He has been with experience in He has held several Chartered leading Practicing Allahabad Bank for 5 working with responsible and Accountants of Company years and retired as different industries. important portfolios India and has 35 Secretary from Chairman of (B.I.F.R.). He has held in the West Bengal years of experience Eastern India and He has held several various notable State Government, in practicing her professional portfolios in reputed positions in before finally retiring accountancy with career includes 17 banking different sectors as Chief Secretary an expertise in the years of experience organizations and and finally retired and Tourism area of internal in corporate was on the as the CFO in Secretary. He has audit. He has consultation & governing board of Shree Cement profound graduated with a advisory. several education Limited, a B.G. knowledge and Bachelor's Degree in institutions. Bangur Company. experience in Commerce from various industries. Calcutta University. 7
P R O D U C T O F F E R I N G S S K I P P E R : O N E - S TO P S O LU T I O N P R OV I D E R Engineering products Polymer products Infrastructure projects Capacity: 300,000 MTPA Capacity: 51,000 MTPA • Transmission Line EPC M I S S I O N • Power Transmission Tower • UPVC Pipes • Railway Electrification EPC • Power Distribution Poles • CPVC Pipes • Underground Utility laying by HDD • Monopoles • SWR Pipes • MS & High Tensile Angles • HDPE Pipes • Solar Structures • Fittings • Fasteners • Tower Accessories • Railway Structures Highlights Highlights Highlights Positioned as one of the world's • Only polymer pipe company in • Forward integration activity leading transmission tower India to implement TOC in its • Aimed at high -margin projects manufacturer; largest in India operations Revenues Revenues Revenues Rs16,452mn Rs1,598mn Rs 658mn
F O O T P R I N T S G LO B A L P R E S E N C E SOUTH AMERICA Peru, Colombia, Chile, Paraguay, Panama EUROPE UK, Germany, Spain AFRICA Kenya, Egypt, Ghana, Nigeria, Zambia, Sierra Leone Guinea, South Africa, Botswana, Burundi, Angola MIDDLE EAST Jordan, Saudi Arabia, UAE SOUTH AND SOUTH EAST ASIA Nepal, Bangladesh, Sri Lanka, Indonesia, Philippines, Malaysia AUSTRALIA
SKIPPER LIMITED Performance Update Q4 & 12M FY’19 Update
B U S I N E S S R E P O R T C A R D The reason for decline in Q4 F i n a n c i a l P e r fo r m a n c e Q 4 F Y 1 9 Q4 Revenue impacted • Slower Project Execution; Sites not ready for Rs in Mn want of Govt Approvals. • Lack of short term orders in market Q4 FY’19 Sl Profit & Loss Summary Q4 FY’18 • Consciously slowed down supplies to the customer unwilling to give secured payment terms 4,333.9 1 Net Revenue (Excl Excise Duty) 5,928.5 • Structural changes undergoing 526.7 1,105.4 implementation in Polymer Segment 2 Operating EBITDA (without Forex) 12.2% 18.6% % of Net Revenue Profitability Margins impacted • Higher incidence of Fixed cost getting 81.7 3 Depreciation 113.5 absorbed on reduced sales • Slow off take and delay in execution of T&D 250.4 4 Interest Expenses 239.3 projects - led to lower utilisation of plant capacities. 3.6 5 Other Income 7.9 • Sustained high raw material prices of both Steel & Zinc for most part of the quarter had its 198.2 760.5 6 Operating PBT (2-3-4+5) impact on Fixed Price contracts 24.4 (19.7) 7 Forex Gain / Loss • Low Margin in EPC & Polymer Segment in comparison to previous year quarter. 222.6 740.8 8 Profit Before Tax (Reported PBT) (6+7) • Increase in working capital borrowing on account of reduced payables 44.9 9 Tax 247.3 Management ideology of not chasing growth at the cost of financial discipline will be 177.7 493.5 10 Profit After Tax (Reported PAT) (8-9) maintained and adhered. 11
B U S I N E S S R E P O R T C A R D F i n a n c i a l P e r fo r m a n c e 1 2 M F Y 1 9 Rs in Mn 12M FY’19 Sl Profit & Loss Summary 12M FY’18 18,708.7 1 Net Revenue (Excl Excise Duty) 20,737.2 1,840.3 2,749.4 2 Operating EBITDA (without Forex) 9.8% 13.3% % of Net Revenue 378.7 3 Depreciation 459.1 1,015.9 4 Interest Expenses 784.5 13.7 21.9 5 Other Income 459.4 6 Operating PBT (2-3-4+5) 1,527.8 (29.5) 7 Forex Gain / Loss 276.1 429.9 1,803.9 8 Profit Before Tax (Reported PBT) (6+7) 117.7 9 Tax 626.3 312.1 10 Profit After Tax (Reported PAT) (8-9) 1,177.6 12
S E G M E N T R E P O R T S e g m e n t P e r fo r m a n c e Q 4 & 1 2 M F Y ’ 1 9 Q4 Q4 12M 12M Infra Segment Financial Summary Polymer FY’19 FY’18 FY’19 FY’18 3% 9% Net revenue 3,795.9 4,923.6 16,452.2 17,781.7 Engg. EBIDTA (w/o forex) 506.4 1,002.6 1,778.5 2,442.3 Products % of Revenue 13.3% 20.4% 10.8% 13.7% Net revenue 347.4 748.1 1,598.2 2,100.2 Polymer EBIDTA (w/o forex) 17.3 67.9 33.0 193.9 products % of Revenue 5.0% 9.1% 2.1% 9.2% Net revenue 190.6 256.8 658.3 855.4 Engg EBIDTA (w/o forex) 3.0 34.9 28.9 113.2 Infra projects 88% % of Revenue 1.6% 13.6% 4.4% 13.2% Net revenue 4,333.9 5,928.5 18,708.7 20,737.2 EBIDTA (w/o forex) 526.7 1,105.4 1,840.3 2,749.4 Total Revenue Mix – 12M FY’19 % of Revenue 12.2% 18.6% 9.8% 13.3% Note: Segment EBITDA is net of Forex and includes allocation of un-allocable expenditure in pro-rata share of sales in their respective segment 13
I M P R O V E M E N T T R E N D S Op. EBITDA Margin (without Forex) 15% 13% 12% • Engineering EBITDA margin back to its normal range 11% of 13% in Q4’19 12% 10% 11% 10% 7% • Polymer Margin at year high level of 5% in Q4FY’19 on account of operational consolidation and TOC 5% 5% 6% benefits. • StandAlone Margins improved to 12% in Q4’19. 2% 1% 1% 0% Q1'19 Q2'19 Q3'19 Q4'19 Engineering Polymer Stand Alone Note: Segment EBITDA is net of Forex and includes allocation of un-allocable expenditure in pro-rata share of sales in their respective segment RM Consumption to Sales Trend 100% • During the first 3 quarters of the year, there was a negative impact of commodity price volatility on our fixed price contract that adversely impacted 69% 69% 68% our profitability. 63% 50% • With recent correction in commodity prices the RM consumption to sales has come down to 64% in Q4; leading to improved margins & performance for the quarter. 0% Q1'19 Q2'19 Q3'19 Q4'19 RM Consumption to Sales 14
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