Shyam Metalics And Energy Limited has informed the Exchange about Investor Presentation
Securing tomorrow with today’s strength
Investor Presentation May 2022
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shyam Metalics And Energy 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.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
2
Key Updates for Q4 & FY22
Strengthening Brand
Update on Capex
Business Updates
Final Dividend
Launched Salman Khan as Brand Ambassador, new promotion activity underway
• On track to increase the existing integrated installed facility of 7.76 million tons to
14.45 million tons by 2025
• Bid to takeover assets of Ramsarup Industries Ltd approved by NCLT. Acquisition will be carried out via SS Natural Resources Pvt Ltd a special purpose vehicle (SPV) in which the company holds 60% stake
• The board has recommended final Dividend : Rs 2.7 per share.
Financial Performance
• Quarterly Y-o-Y Growth : Revenue : 22% EBITDA : 6% and PAT : 12%
• Full Year Y-o-Y Growth : Revenue : 65%, EBITDA : 87% and PAT :104%
3
Launched Salman Khan as Brand Ambassador
4
Product Launch: SEL Tiger Grills n Steels
Light structural steel products integrate with strength to create a grill steel range of superior quality. The intricate manufacturing procedure used makes this range perfect for shaping into any design
5
Strengthening Brand ‘SEL’
TMT TMT are used for the construction of buildings, transmission towers, industrial sheds, structures, road, dam and in other various infrastructures
SMEL sells the best quality TMT primarily in the states of West Bengal, Odisha, Bihar, Jharkhand, Tripura, Sikkim, Assam, Arunachal Pradesh, Manipur, Meghalaya, Uttarakhand, Uttar Pradesh, Punjab and Haryana. Our TMT and structural products are sold under the brand “SEL”
STRUCTURE
WIRE RODS
Structural steel describes hot rolled steel products such as angles, channels and beams. With an array of high- quality Structural products under the brand ‘SEL’, backed by world-class service and its other products, SMEL holds its pride of place among the leading steel manufacturers of the country and material directly from the DRHP
Towards forward integration, SMEL has set up high quality Wire Rod manufacturing & Wire Drawing facilities with best available technology and plant & machinery support
Since the raw materials are manufactured in-house at our plant, the company is able to produce high quality Wire Rod & H.B. Wires in an efficient & cost-effective manner
6
Capex Synopsis
Particulars
Unit
Aggregate capacity at the launch of IPO
Capacity proposed in the IPO
Already implemented
Aggregate implemente d capacities
Further to be implemented as per existing expansion
Post implementati on
Further expansion as approved on 15th march 2022
Final proposed enhanced capacities
Captive Power Plant
MW
Iron Pellet Plant
Ferro Alloy Plant
Coke Oven Plant
Sponge Iron plant
Blast Furnace
Sub-Total
Billet Plant
TMT, Structural Products, Wire Rods & Pipes
Ductile Pipe Plant
Sub-Total
Total
MTPA
MTPA
MTPA
MTPA
MTPA
MTPA
MTPA
MTPA
MTPA
MTPA
227
2.4
0.2
-
1.39
-
1.39
0.89
0.82
-
0.82
5.71
130
1.2
0.01
-
1.51
0.6
2.11
1.11
1.25
0.2
1.45
5.89
40
1.2
-
-
0.72
-
0.72
0.05
0.08
-
0.08
2.05
267
3.6
0.21
-
2.11
-
2.11
0.94
0.9
-
0.9
7.76
-
90
0.01
-
0.79
0.6
1.39
1.06
1.17
0.2
1.37
3.84
357
3.6
0.22
-
2.9
0.6
3.5
2.01
2.07
0.2
2.27
11.6
-
2.4
-
0.45
-
-
-
-
-
-
-
357
6
0.22
0.45
2.9
0.6
3.5
2.01
2.07
0.2
2.27
14.45
We have incurred a capex cost of Rs. 1,529 crores till 31st Mar ’22 and capitalised Rs 894, accounting to 39% of the total capex envisaged , ie Rs 3,950 crores
Iron Making
Liquid Steel
Finished Steel
7
Company Overview
Shyam Metalics at a Glance
•
•
Leading Integrated Steel and Ferro Alloys Producer in India
4th Largest Sponge Iron Player, Leading player in terms of Pellet Capacity
•
Integrated Metal Producing Company
• Operates “Ore to Metal” integrated steel plants
with Captive Railway Siding
•
Strategically located plants with Proximity to Mineral Belts, National Highways and Ports
Achieving End-To-End Solutions
“Ore To Metal”
• 65%: Total Income Growth in FY 22 YoY
• EBITDA Positive since commencement of
operations in 2005
• 0.09X Gross Debt / Equity as of Mar-22
• One of Lowest Gearing amongst competitors
7.76 MTPA Combined Production Capacity
~82% of power sourced from Captive
12,272 Employee Strength
AA- CRISIL Credit Rating
• ~82% of power sourced from Captive Power Plants at 2.12 Rs./Kwh3 in FY22, while Grid Power costs 5-7 Rs./Kwh4
• Promoters with decades of experience in the Metal Industry along with experienced Management Team
Optimising the Balance Sheet for Resilience & Flexibility
CRISIL AA- (Positive) Long Term Bank Facilities
CRISIL A1+ (Positive) Short Term Bank Facilities
CARE AA- (Positive) Long Term Bank Facilities
CARE A1+ (Positive) Short Term Bank Facilities
9
Eminent Promoters & Management
Mahabir Prasad Agarwal, Chairman • Over three decades of experience in the steel and ferro
alloys industry
• Founder and Director of our subsidiary SSPL since inception and is actively involved in the CSR activities of the company and its subsidiary
Brij Bhushan Agarwal, VCMD • Holds a bachelor’s degree in commerce from the
University of Calcutta
• Over three decades of experience in the steel and ferro
alloys industry
• Primarily responsible for
future expansion, business development, marketing, human resources and corporate affairs of the Company
strategic planning,
Sanjay Kumar Agarwal, Joint Managing Director • Holds a bachelor’s degree in commerce, with honours, from
the University of Calcutta
• Over 17 years of experience in the steel and ferro alloys
industry • Primarily
responsible
the manufacturing plants, with focus on cost control, production efficiency and competitive procurement of raw material
operations
the
for
of
Company Overview
• •
•
•
• •
Incorporated in 2002, the Company is registered in Kolkata, India An integrated “Ore to Metal” producing Company manufacturing Pellets, Sponge Iron, Steel Billets, Long Steel Products & Ferro Alloys, selling both intermediate and final products 3 manufacturing plants, 1 in Odisha and 2 in West Bengal with aggregate installed metal capacity of 7.76 MTPA and Captive power plants of 267 MW as of March 31, 2022 1 State of the Art Aluminium Foil producing plant in Pankuria in the state of West Bengal. TMT and structural products are sold under the brand “SEL” SMEL employs over 12,272 personnel on Payroll + Contract basis (
The Management Team is ably assisted by a very strong team of Professionals who have contributed immensely to the growth of the Company
10
Value Propositions
1
Backward & Forward Integration with presence across the Value Chain
2
3
Flexible & Diversified Product Mix
Strong Brand & Distribution Network
4
Logistical Advantage & Infrastructure Advantage with Private Railway Sidings
5
Captive Power for ~81% power requirement
6
Capacity Addition to increase share of High Margin B2C Products
7
8
9
De-Leveraged Balance Sheet giving flexibility in growth
Sustainable solution - Waste used as ‘Productive Inputs’
Consistent Performance over the last decade
11
Integrated operations across the steel value chain
Raw Materials
Coal
Processing
Coal Washery
Washery Rejects
Char/Flu Gases
Rotary Kilns
Power Plant
Rolling Mills
Iron Ore Fines
Washing & Pelettization Plant
Pellets
Sponge Iron
Steel melting Shop
Billets
Fines
Sinter Plant
Sinter
Blast Furnace
Pig Iron
Structure Rolling Mills
Manganese Chrome Ore
Submerged Arc Furnace
Ductile Iron Plant
Manganese
End-Products
Electricity (Captive)
TMT Bars
Wire Rod
Angle
Channel
Beam
Ductile Pipe
Ferro Alloys
Point of Sale
Proposed Expansion
12
Brownfield expansion with…
Railway Siding
Captive Power Plants
Captive Water Reservoir
Jamuria Plant
Sambalpur Plant
We have 1 manufacturing plant located in Sambalpur, Odisha and 1 manufacturing in Jamuria, West Bengal with aggregate installed capacity of 7.66 MTPA comprising of intermediate and final products.
We also have a small plant in Mangalpur, West Bengal with aggregate installed capacity of 0.1 MTPA
These plants also include captive power plants with an aggregate installed capacity of 267 MW
Brownfield expansion leading to Lowest Capex in the Industry
13
Detailed Plant Wise Capacities
Product –Wise Capacity (MTPA)
Iron Pellets
Ferro Alloys
DRI (Direct Reduced Iron)
Billets
TMT, WDM, SRM
Pandoli, Ohisha
Jamuria, West Bengal
Mangalpur, Odisha
1.8
0.10
0.96
0.40
0.41
1.8
0.07
1.09
0.54
0.49
0.04
0.06
TOTAL
3.6
0.21
2.11
0.94
0.90
Captive Power
158 MW
94 MW
15 MW
267 MW
14
Current Steel Capacities Across Life Cycle
Finished Steel
0.9 MTPA
WRM 0.4 MTPA (Wire Rod Mill)
TMT 0.27 MTPA
Structurals 0.20 MTPA
Pipe Mill 0.3 MTA
Iron Making
Liquid Steel
DRI 2.11 MTPA (Direct Reduced Iron)
SMS 0.94 MTPA (Steel Melting Shop)
15
Foray into Aluminium Foil segment
Aluminium Plant – Pakuria , West Bengal & Giridih, Jharkhand
• •
• •
Capacity: 40, 000 TPA Plant installed by Achenback (Germany) a pioneer in the industry Spread over 5 acres Rolling range: 40 to 5 micron with annhealing capability, customised as per demand
16
…Lowest Capex compared to the Industry
• Brownfield capacity expansion expected to increase aggregate installed metal capacity (comprising of intermediate and final products) from 7.76 MTPA currently to 14.45 MTPA and captive power plants aggregate installed capacity from 267 MW to 357 MW. These proposed expansions are expected to become operational between Fiscal 2023 and Fiscal 2025
• Railway sliding – 2 additional tracks at both Jamuria & Sambalpur plants, at an aggregate cost of Rs 180 crores
Advantages of Brownfield Expansion
• Commissioned an aluminium foil rolling mill at Pakuria in West Bengal with an installed capacity of 0.04 MTPA,
the plant is now operational. The Capex envisaged for the project is Rs. 360 crores.
Lower fixed costs due to using already established facilities, infrastructure, and network
• Company has ample land available for expansion for the next 5 years
Iron Pellets (MTPA)
2.4
1.2
2.4
Steel Products (MTPA)
3.6
0.8
4.1
Capex
Rs. 520 Crs.
Rs. 2,460 Crs.
6.0
8.5
Ferro Alloys (MTPA)
0.21
0.01
0.22
Rs. 30 Crs.
Power (MW)
227
40
90
357
Rs. 400 Crs.
Existing Capacity
Addition in FY22
Future Expansions
Lower staffing and training costs, due to the presence of already-employed workers at the facility
Low cost advantage for expansion of power capacity. Capex incurred: Rs 110 cr for 40 MW, effectively Rs 2.75 cr vs industry average of 4.5 cr per MW
Capex spread over the next 3 years
We have incurred a capex cost of Rs. 1,529 crores till 31st Mar ’22 and capitalised Rs 894, accounting to 39% of the total capex envisaged , ie Rs 3,950 crores
17
Diversified & Interchangeable Product Mix
Capacity (Million MTPA)
s t c u d o r P g n i t s i x E
w e N
s t c u d o r P
Iron Pellet
Sponge Iron
Billets
TMT, Structural Steel, Wire Rods & Pipes
Ferro Alloys
Captive Power (MW)
Aluminium Foil
Coke Oven Blast Furnace
Ductile Iron Pipes
FY18
0.90
1.01
0.54
0.25
0.19
164
FY19
0.90
1.01
0.63
0.25
0.21
164
FY20
2.4
1.27
0.80
0.82
0.21
227
FY21
2.4
1.39
0.89
0.82
0.21
227
FY22
3.6
2.10
0.94
0.90
0.21
267
40,000 TPA
Proposed Capacity of 450,000 TPA
Proposed Capacity of 600,000 TPA
Proposed capacity of 200,000 TPA
On an aggregate basis, the Capacity Utilization is between 90% - 95%
18
Increasing share of B2C/Value Added Products
Structural Products are hot rolled products of special forms like rounds, angles, channels & beams
TMT Bars are high-strength reinforced bars having a tough outer core and soft inner core
We not only make structurals of standard dimensions, but also Customized Products for Specific Applications, economically and quickly
Our products are sold mainly across Eastern, Central ,Northern and Western Regions of India with some penetration in Southern India. Our TMT and structural products are sold under the brand “SEL”.
Finished Steel Products
~64%
Revenue Contribution in FY22
19
Huge Export Potential
20
Countries
Exports to countries like USA, Japan, Korea, Italy, Nepal, Bangladesh
16%
Export Contribution to Revenues in FY22
42%
46%
Steel products both upstream and downstream including Angles, Beams, Billets, Channels, Wire Rods, MS Round Coils and Sponge Iron
Ferro Chrome Ferro Manganese and Silico Manganese Products
12%
Pellets
We are preferred suppliers to a few of the large corporations like
Norecom DMCC
POSCO Intl Corp
World Metals & Alloys (FZC)
TRAXYS North America LLC
J M Global Resources
% of Products Exported is for FY22
20
Strategically Located - Supported by Infrastructure
Strategically located in the mineral rich East Indian region
Raw Material Sources are within 250 kms
Kolkata Haldia
Dhamra
Paradeep
~800+ dealers & distributors stock and sell the finished products across 27 states and 1 Union Territory
We sell 70% of our products within the vicinity of 500 Km from our plants
• Plants are in close proximity to National Highways 16 &19
• Sambalpur & Jamuria Plants have captive railway sidings
Vishakhapatnam
Plant Location
Captive Railway Sidings
Key Raw Material
Iron ore / Iron ore fines
Chrome ore
Manganese ore
Coal
Ports are within 600kms
Ports
Source
Mine owners located in Odisha
Long term linkages with Odisha Mining Corporation Limited, other mine owners and imports
MOIL Limited, other mine owners and imports
Fuel supply agreements entered into with Mahanadi Coalfields Limited, Central Coalfields Limited and South Eastern Coalfields Limited
21
Lowest Cost Captive Power
•
•
•
Power consumed by the plants are primarily produced in-house by the captive power
plants
Sambhalpur
5 Captive Plants Total Capacity of 158 MW
Captive power plants utilise non fossil fuels such as waste, rejects, heat and gas generated
from the operations to produce electricity
Jamuria
3 Captive Plants Total Capacity of 94 MW
Cost of in-house power is significantly less than grid power which costs INR 5-7 Per Unit *
Mangalpur
1 Captive Plant Total Capacity of 15 MW
Captive Power to Total Power Consumed
Cost of Per Unit of Captive Power** (Rs./KWH)
Current Capacity* (MW)
Captive Power Plant Expansion Plans (MW)
90.1%
87.3%
85.2%
79.0% 82.0%
2.24
2.16
2.09
2.15
2.12
94
15
90
357
158
267
FY18
FY19
FY20
FY21
FY22
FY18
FY19
FY20
FY21
FY22
Sambalpur
Jamuria Mangalpur
Current Capacity
Proposed Fresh Capacity
Post Expansion
* Source: CRISIL Report; **Average cost of Power from Captive Power Plant = Total cost of power from all Captive Power Plants / Total production units
22
Waste to Value
Efficient use of by products: Effluents/Wastes from all the production activity are utilized in various product verticals to create a set of High Value-added Products
Washery rejects used in Power Plant
Steam generated used in production of Power and then in Ferro Alloys
Fly ash bricks are created from industrial wastes
Fly ash bricks which are manufactured from various industrial wastes such as fly ash, sand, stone, dust and cement, are used globally nowadays over clay bricks and traditional red bricks
Fly ash bricks are also known for being highly durable, less permeable and environment- friendly as they are manufactured from waste materials that generate from the combustion of coal in thermal power plants.
Power generated by using flu gases and capturing of heat through waste heat recovery boilers
23
Capacity Expansion –Share of High Value Products to Increase
Break-up of Capacity Expansion (MTPA)
14.4
6.7
7.7
Capacity Expansion is on the existing land, will help Company augment revenues, better cost controls, increase in profitability
Target completion between FY22 and FY25
Total Capex Cost aggregating to ~Rs. 3,950 Crs.
Capacity expansion focused on increase share of high value products
0.2 0.2
0.0
0.2 0.2
0.0
2.0 1.1 0.9
2.0 1.1 0.9
0.5 0.5
0.0
0.6 0.6
0.0
2.9 0.8
2.1
6.0
2.4
3.6
Iron Pellets
Sponge Iron
Coke Oven
Pig Iron
Steel Billets
TMT, Structural & Pipes
DI Pipes
Ferro Alloys
Total
24
Revenue mix skewed towards Finished Steel
Revenue Mix
19%
17%
25%
27%
11% 2019
18%
23%
24%
20%
14%
2020
16%
37%
12% 11%
24%
2021
17%
38%
8% 17%
18%
2022
31%
15%
19%
25%
9% 2018
Flexibility to Sell Intermediate Product, use for Captive Consumption
Ferro Alloys
TMT, Structural and Pipes
Steel Billets
Sponge Iron
Iron Pellets
Make customized products to capitalise on market opportunities
Volumes (in lakh tonnes)
16.9 1.6 7.8 1.6 5.8
2018
20.8 1.5
10.2
1.9 7.3
2019
23.2 1.5
8.8
2.9
9.9
2020
31.2 1.7 5.7
6.1
17.7
2021
32.0 1.6 8.1
7.6
14.7
2022
Ferro Product
Intermediates
Finished Steel
Iron Pellet
Reduced dependency on any particular product
25
Strategic Initiatives
IT Initiatives
Automation
Focus On High Value Activities
Data Integration
Traffic Management
Data Analytics & AI
Knowledge Partners
Easy Access
Reduce TAT for vehicles
Consistent Availability
Consistent Presentation
Data Integrity
Gate and Weighbridge Automation
Decision Dashboards
Real-time data logging
Improve Data Reporting
User Enablement
Maintain Data And Security Standards
Continuous Investment
Benchmarking & Micro Monitoring
Technology Partners
27
Impact of IT Initiatives
ERP SAP S4 HANA
Performance Assessment
Operational Excellence
Digitisation
Employee Skill Development
People Agnostic
Improved Business
Reduced Paper Documentation
Monitoring of Business Operations
Customer Satisfaction
Enhanced ROI
28
29
Commissioned ESG Study
In our move towards sustainable growth, ESG framework provides an opportunity to create a systematic approach for tangible outcomes.
Growlity Inc. management consultants has carried out comprehensive diagnostic study on SMEL’s ESG fundamentals & compliance status.
In Phase 1 of the diagnostic study, Growlity • Carried out a detail study of SMEL’s process flow at Jamuria & Sambalpur plants.
• Map out the current carbon, water & waste footprints at both plants and assess the impact of carbon emissions.
•
phase
The implementation is underway
of
2
the
exercise
30
Installed Solar Panels – Focus on Green Energy
We have partnered with Fourth Partner Energy Pvt Ltd, Commercial & Industrial Solar Developer
India’s largest
The project has been initiated to reduce CO2 emission, and conserve water
We also plan to plant 57,500 trees.
On a pilot basis, initially based on investment made by 3rd party solar company on SMEL land, currently 0.6 MW is operational out of the planned 4MW
31
Q4 & FY22 Financial Performance
Performance Highlights
Revenue
Rs. 10,934 Crores
Revenue
Rs. 2,856 Crores
65%
y-o-y
22%
y-o-y
FY22
EBITDA
Rs. 2,600 Crores
Q4 FY22
EBITDA
Rs. 663 Crores
87%
y-o-y
6%
y-o-y
PAT
Rs. 1,724 Crores
PAT
Rs. 443 Crores
104%
y-o-y
12%
y-o-y
Strong Q4 FY22 Performance
Revenue from Operations
Rs. 2,856 crores
+22%
EBITDA
Rs. 663 crores
+6%
Profit After Tax
Rs. 433 crores
+12%
Revenue Breakup
Volumes (in lakh tonnes)
Volumes (in lakh tonnes)
13.2%
16.0%
Ferro Products
6.0 0.4
19.6%
Steel Products: 70.6%
6.3%
44.7%
Iron Pellets
5.6
Ferro Alloys TMT, Structural and Pipes Steel Billets
Sponge Iron Iron Pellets
Y-o-Y
-37%
Q-o-Q
+16%
3.8 0.4
3.4
3.2 0.4
2.8
Steel Products
Y-o-Y
+23%
4.1
3.4
Finished Steel
1.9
Steel Billets
0.5
Sponge Iron
1.0
2.1
0.5
1.5
+2%
Q-o-Q
4.2
2.3
0.4
1.6
Q4 FY21
Q3 FY22
Q4 FY22
Q4 FY21
Q3 FY22
Q4 FY22
34
Strong FY22 Performance
Revenue from Operations
Rs. 10,394 crores
+65%
EBITDA
Rs. 2,600 crores
+87%
Profit After Tax
Rs. 1,724 crores
+104%
Revenue Breakup
Volumes (in lakh tonnes)
Volumes (in lakh tonnes)
18.4%
17.6%
Ferro Products
19.1 1.4
-15%
17.5%
Steel Products: 64%
7.7%
38.8%
Iron Pellets
17.7
16.3 1.6
14.7
Ferro Alloys TMT, Structural and Pipes Steel Billets
Sponge Iron Iron Pellets
FY21
FY22
11.8
Finished Steel
6.1
Steel Billets
Sponge Iron
2.4
3.3
FY21
Steel Products
+32%
15.6
8.0
1.8
5.8
FY22
35
*Blended EBITDA per Tonne (Rs)
18,236
-15%
+41%
16,636
15,145
15,531
+3%
11,809
Q4 FY21
Q3 FY22
Q4 FY22
FY21
FY22
YoY decrease in Q4 attributable to lower pellet sales
*at Consolidated level Blended EBITDA per tonne (Rs.) = EBITDA / Total Steel Volumes
36
Per Tonne Realizations
Ferro Products
Finished Steel
Steel Billets
+41%
+60%
1,13,604
1,10,235
80,844
69,087
+28%
53,720
+33%
48,916
+30%
48,102
41,899
36,651
36,873
+41%
43,395
30,864
Q4 FY21
Q4 FY22
FY21
FY22
Q4 FY21
Q4 FY22
FY21
FY22
Q4 FY21
Q4 FY22
FY21
FY22
Sponge Iron
Iron Pellets
+37%
33,920
+45%
30,447
24,769
20,957
-9%
11,803
10,726
+49%
12,590
8,453
Q4 FY21
Q4 FY22
FY21
FY22
Q4 FY21
Q4 FY22
FY21
FY22
37
Consolidated Profit & Loss Statement
Particulars (Rs. Crs.)
Q4 FY22
Q4 FY21
Revenue from Operations Cost of Material Consumed Purchase of Stock Change in Inventories Gross Profit Gross Profit (%) Employee Expenses Other Expenses EBITDA EBITDA Margin (%) Other Income Depreciation EBIT Finance Cost Exceptional Items/Share from Associates Profit before Tax Tax Profit After Tax PAT Margin (%) Other Comprehensive Income Total Comprehensive Income Comprehensive Income Margin (%) EPS
2,856.8 1,795.3 8.1 -25.2 1,078.7 37.8% 65.4 350.2 663.1 23.2% 15.0 90.8 587.3 6.1 0.0 581.2 148.0 433.2 15.2% 3.6 436.8 15.3% 17.0
2,350.5 1,280.0 63.0 35.6 971.9 41.3% 62.8 282.4 626.8 26.7% 9.3 80.4 555.7 6.6 0.1 549.2 161.5 387.7 16.5% 1.3 389.0 16.5% 16.6
Y-o-Y
22%
Q3 FY21
2,577.8
1,640.6
11%
6%
6%
6%
12%
13%
2.1
-51.5
986.6
38.3%
57.3
304.3
625.0
24.2%
16.6
59.7
581.9
5.7
0.0
576.1
153.5
422.7
16.4%
-1.3
421.4
16.3%
16.5
Q-o-Q
12%
10%
6%
1%
0%
1%
2%
FY22
10,394.0 6,460.9 32.5 -180.9 4,081.4 39.3% 246.6 1,235.1 2,599.8 25.0% 60.0 272.4 2,387.4 23.2 0.1 2,364.3 640.2 1,724.2 16.6% 43.6 1,767.7 17.0% 68.9
FY21
6,297.1 3,716.7 67.6 49.0 2,463.8 39.1% 188.1 881.9 1,393.8 22.1% 23.7 300.4 1,117.1 62.5 0.3 1,054.9 211.4 843.6 13.4% 5.15 848.7 13.5% 36.1
Y-o-Y
65%
66%
87%
114%
124%
104%
110%
38
Consolidated Balance Sheet
Particulars (Rs. Crs.) ASSETS Non ‐ Current Assets Property, Plant and Equipment Capital Work-in-Progress Right-of-use Assets Goodwill Other Intangible Assets Equity Accounted Investment Financial assets (i) Loans (ii) Other Financial Assets Income Tax Assets (net) Other Non-Current Assets Total Non ‐ Current Assets Current Assets Inventories Financial assets (i) Investments (ii) Trade Receivables (iii) Cash and Cash Equivalents (iv) Bank Balances other than (iii) above (v) Loans (vi) Other Financial Assets Other Current Asset Total Current Assets TOTAL ASSETS
Mar-22
Mar-21
2,383.5 768.3 66.1
5.1 350.3
39.0
139.2 3,751.5
1,758.9 506.4 42.7
0.7 66.6
46.1 6.8 252.4 2,680.5
2,057.0
1,030.2
685.6 376.1 91.9 234.0 172.9 105.8 950.3 4,673.7 8,424.7
215.2 533.6 163.9 159.9 16.2 81.0 539.2 2,739.4 5,419.9
Particulars (Rs. Crs.) Equity Equity Share Capital Other Equity Total Equity Non Controlling Interest Liabilities -Non ‐ Current Liabilities Financial Liabilities (i) Borrowings (ii) Other Financial Liabilities (ii) Lease Liabilities Provisions Deferred Tax Liabilities, (net) Other Non Current Liabilities Total Non ‐ Current Liabilities
Current Liabilities Financial Liabilities (i) Borrowings (ii) Lease Liabilities (iii) Trade Payables (a) total outstanding dues of micro enterprises and small enterprises (b) total outstanding dues of creditors other than micro enterprises and small enterprises (iv) Other Financial Liabilities Other Current Liabilities Provisions Current Tax Liabilities (net) Total Current Liabilities Total Equity and Liabilities
Mar-22
Mar-21
255.1 5,579.6 5,834.7 4.0
233.6 3,400.4 3,634.0 4.4
125.8 12.4 6.0 14.0 107.3 171.0 436.5
407.9 3.4
120.2 9.7 6.0 10.6
203.0 349.6
669.2 0.6
7.8
3.9
1186.1
200.3 304.4 29.8 10.2 2,149.8 8,424.7
363.1
63.2 295.6 29.3 7.1 1,431.9 5,419.9
39
Consolidated Cash Flows
Cash Flow Statement
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
Mar-22
Mar-21
2,364.3
-224.5
2,588.8
324.4
2,264.5
-574.9
1,689.6
-1,926.5
165.1
-71.9
163.8
91.9
1,054.9
-317.8
1,372.7
128.0
1,244.8
-188.6
1,056.2
-498.6
-423.4
134.1
29.7
163.8
40
Strong Debt Profile
Gross Debt (Rs. Crs.)
1,050
Net Debt (Rs. Crs.)
960
656
480
785
534
347
448
246
Mar-18
Mar-19
Mar-20
Mar-21
Mar-22
Mar-18
Mar-19
Mar-20
Mar-21
-477 Mar-22
Net Debt / Equity
0.34
0.19
0.18
Net Debt / EBITDA
1.51
0.07
0.50
0.48
0.18
Mar-18
Mar-19
Mar-20
Mar-21
-0.08 Mar-22
Mar-18
Mar-19
Mar-20
Mar-21
-0.18 Mar-22
41
Strong Balance Sheet – Flexibility of Growth
0.09x Gross Debt / Equity (as of 31st March 2022)
One of Lowest Gearing amongst competitors*
Internal Operating Efficiency led to significant reduction in Working capital requirements
Conservatively Leveraged + Disciplined Capital Allocation strategy = Better Return Metrics
Debt/Equity (x)
Working Capital (days)
Return ratios (%)
Gross
0.22
Working Capital days
69
0.09
Mar-21
Mar-22
0.07
Net
Mar-21
-0.08 Mar-22
44
72
13
Mar-22
60
31
21
Mar-21
Inventory Days
Debtor Days
Creditor Days
ROCE
+1250 bps
37.5%
25.0%
42
Mar-21
Mar-22
ROE
+640 bps
23.2%
29.6%
Mar-21
Mar-22
Strong Balance Sheet to support Capex, Growth and Business Cycles
*Crisil Report
42
CSR Initiatives
Rural Health
Rural Education
Social Infrastructure Development
Social Awareness
•
•
Yearly Eye & Medical Camp for Villagers
Free Ambulance & Drinking water Services for villagers
• New Health Center & Homeopathy Clinic
•
•
FREE Medicine & Spectacles and Blood Donation Camp
FREE Coaching Center for Economic backward Section
• Computer Training Center at Dhasna village
•
•
School Bag And Cycle Distribution
SHYAM Scholarship for Meritorious students of Economic Backwards
• Temples • Village Sanitation • Teachers Training and Remuneration • Village Handicrafts – Skill development • Sports Football Coaching • Gau Daan ( Care for Animals)
• Women Empowerment
• Road safety Campaign SAFE DRIVE SAFE LIFE
• Socio Environmental Awareness
• Distribution of Helmets for Safe drive & Save life
43
CSR Initiatives
Sustainability
Skill Development
Sports Promotion
• Water Conservation- Check dam, Pond , landscaping, Plantation,
• Promotion of solar Light
•
Solar irrigation Pumps
• Promotion of Organic Farming
• Running sewing center, computer training center
• Alternate source of income via enterprise development, skill
development
• KALP VRIKSHA ( Empowerment) programme
•
•
Football team of Shyam Sel & Power Limited
Shoes & Suit distribution
• Play ground development
44
Shyam Metalics & Energy Limited
Mr. Pankaj Harlalka +91 9830028142 pankaj.harlalka@shyammetalics.com
Investor Relations Partners
Mr. Rajesh Agrawal +91 9967491495 Rajesh.agrawal@linkintime.co.in
Mr. Nachiket Kale +91 9920940808 Nachiket.kale@linkintime.co.in
Shyam Metalics & Energy Ltd. CIN No. : U40101WB2002PLC095491
Trinity Tower, 7th Floor, 83, Topsia Road Kolkata – 700046, West Bengal, India