Please find attached an Investor Presentation for your information and record.
XPRO INDIA TIMITED
Birla Building (2nd Floor), 9/1, R. N. Mukherjee Road, Kolkata - 700 001, India Tel. : +91-33-40823700122200600 e-mail : xprrrcal@xproindia.com
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June 1 ,2022
National Stock Exchange of lndia Ltd. "Exchange Plaza", Bandra-Kurla Complex, Bandra (E), lMunbai400 051
Stock Svmbol XPROINDIA(EQ)
-l-he Dy. General lVlanager BSE Limiteci Corporate Reiationship Department 1't Floor, New Trading Ring Rotunda Buiiding, P J Towers Dalal Street, Fort l\llumbai400 001
Stock Code No. 590013
Dear Sir,
Sub: Disclosure qnde1 Regulation 30 - lnvestor Presentation
Please find attached an lnvestor Presentation for your information and record
Thanking you,
Yours faithfully, For Xpro lndia Limited
Amit Dhanuka Company Secretary
Enci: a/a
Registered Office : Barjora - Mejia Road P.O. Ghutgoriq Tehsil : Barjora, Distt.: Bankura, West Bengal -122202 Tel.: +91-9775301701 ; e-mail : cosec@xproindia.com CIN : L25209W8 1997P1,C;O85972; www.xproindia.com
Xpro India Limited
Investor Presentation Q4-FY 2022
Performance Overview
Q4 FY22 FINANCIAL HIGHLIGHTS
Performance Overview
FY22 (Y-o-Y)
Q4 FY22 (Y-o-Y)
Highlights
Revenue 471.7 Crs
26.3%
Revenue 142.8 Crs
-3.2 %
Reflects seasonality and despatch timing variances Equates to ~Rs.571 Cr. Annualised;
EBITDA 63.8 Crs
58.4%
EBITDA 17.2 Crs
-1.7 %
Marginal Decline in absolute numbers over corresponding quarter; Reflects the increase in margins despite cost pressures
PAT 44.9 Crs
434.5%
PAT 17.5 Crs
82.3 %
•
•
•
•
•
•
•
•
•
Results signify steady operations, sustained market opportunities for Xpro’s technically robust product offerings and the impact of strategic initiatives over past few years;
Results achieved in the face of uncertainties due to the pandemic and global economic conditions, and in particular the general loss in economic momentum in the last quarter of the financial year;
Sustained domestic demand for Xpro Biax Dielectric films with market share > 30% (balance imported); Strong global demand too.
Biax Dielectric Film output 15 % higher through optimization and “tweaks”;
Quality and service rated “premium” by Customers;
Coex division markets moderated somewhat in Q4 due to commodity price increases and shortages resulting from geo- political considerations and lockdown in China which pushed up consumer durable prices;
Raw material cost increases could be passed on, and together with improved product/customer-mix and improved value-addition strategy overall margins scaled-up;
Exports increased to Rs.22.6 Cr. (from Rs.9.5 Cr. previous year);
Continuing reduction in debt (including through pre-payment).
Investor Presentation Q4-FY22
3
Q4FY22 Financial Performance (Consolidated)
Revenues (Rs. Crs)
EBITDA (Rs. Crs)
PAT (Rs. Crs)
-3.2%
147.5
142.8
-1.7%
17.5
17.2
+82.3%
17.5
9.6
Q4 FY21
Q4 FY22
Q4 FY21
Q4 FY22
Q4 FY21
Q4 FY22
EPS (in Rs.)
+81.0%
14.8
8.2
EBITDA Margin (%)
PAT Margin (%)
11.9%
12.1%
12.2%
6.5%
Q4 FY21
Q4 FY22
Q4 FY21
Q4 FY22
Q4 FY21
Q4 FY22
Investor Presentation Q4-FY22
4
FY22 Financial Performance (Consolidated)
Revenues (Rs. Crs)
EBITDA (Rs. Crs)
PAT (Rs. Crs)
+26.3%
471.7
373.4
+58.3%
63.8
40.3
FY21
FY22
FY21
FY22
+434.5%
44.9
8.4
FY21
FY22
EPS (in Rs.)
+437.9%
38.0
7.1
EBITDA Margin (%)
PAT Margin (%)
13.5%
10.8%
9.5%
2.2%
FY21
FY22
FY21
FY22
FY21
FY22
Investor Presentation Q4-FY22
5
Q4FY22 Profit & Loss Statement
Particulars (Rs. Crs)
Revenue from Operations
Cost of Materials Consumed
Change in Inventories of finished goods, WIP and stock-in- trade
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
Investor Presentation Q4-FY22
Q4 FY22
Q4 FY21
142.8
97.7
3.6
41.5
147.5
108.1
0.6
38.8
29.0%
26.3%
8.7
15.5
17.2
7.9
13.4
17.5
12.1%
11.9%
0.9
2.9
15.2
2.1
13.1
-4.3
17.5
12.2%
14.77
0.96
3.0
15.5
3.2
12.3
2.7
9.6
6.5%
8.16
Y-o-Y
-3.2%
Q3 FY22
111.2
Q-o-Q
28.4%
6.9%
-1.7%
82.3%
79.9
-6.6
38.0
34.1%
7.7
12.5
17.7
15.9%
0.24
3.0
14.9
3.3
11.6
0.0
11.6
10.4%
9.83
9.3%
-2.9%
50.3%
FY22
471.7
328.0
-2.4
146.1
31.0%
30.2
52.1
63.8
FY21
373.4
262.0
3.1
108.3
29%
27.6
40.4
40.3
Y-o-Y (%)
26.3%
34.9%
58.4%
13.5%
10.8%
1.8
12.1
53.6
13.0
40.6
-4.3
44.9
9.53%
38.03
2.1
12.4
30.0
16.5
13.5
5.1
8.4
2.2%
7.07
201.1%
434.5%
6
Balance Sheet (Consolidated)
EQUITY & LIABILITIES (Rs. Crs)
Mar-22
Mar-21
ASSETS (Rs. Crs)
Equity Share Capital
Other Equity
Total Equity
Financial Liabilities
Borrowings
Provisions
Other Financial Liabilities
Lease Liabilities
11.8
160.2
172.0
63.7
2.2
0.1
1.9
11.8
78.1
89.9
97.0
4.3
0.1
2.2
Total Non-Current Liabilities
67.9
103.6
Financial Liabilities
Borrowings
Trade payables
Other Financial Liabilities
Other Current Liabilities
Lease Liabilities
Total Current Liabilities
TOTAL EQUITY & LIABILITIES
Investor Presentation Q4-FY22
24.0
57.9
2.4
10.3
0.2
94.9
334.9
35.9
72.3
2.0
4.2
0.1
114.6
308.0
Property, Plant and Equipment
Right of Use of Assets
Capital Work-in-progress
Financial Assets
(i)
Investments
(ii) Loans
(ii) Other Financial Assets
Deferred tax assets (net)
Other Non Current Assets
Non-Current Tax Assets (Net)
Total Non-Current Assets
Inventories
Financial Assets
(i) Trade Receivable
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances (other than Note 13 above)
(iv) Other Current Financial Assets
Loans
Other Current Assets
Current tax assets Non current Assets held for sale Total Current Assets
TOTAL ASSETS
Mar-22
159.4
Mar-21
170.2
8.8
0.4
5.0
0.1
4.5
4.5
4.3
2.6
189.6
45.6
66.3
18.7
4.8
0.8
0.1
3.6
0.0 5.2 145.2
334.9
8.9
0.3
0.0
0.1
3.9
-
0.5
2.0
186.0
41.0
66.4
1.7
4.2
1.7
0.1
1.7
0.0 5.2 122.1
308.0
7
Abridged Cash Flow Statement
Particulars (Rs in Cr)
Profit before Tax
Operating profit before working capital changes
Changes in working capital
Cash generated from operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities (A)
Net Cash from Investing Activities (B)
Mar-22
Mar-21
40.6
65.0
(15.6)
49.3
(0.7)
48.6
(10.5)
13.4
41.1
7.3
48.5
(0.6)
47.8
(1.5)
Net Cash from Financing Activities (C)
(21.2)
(50.8)
Net Change in cash and cash equivalents
17.0
(4.5)
Investor Presentation Q4-FY22
8
Historical Performance Overview
HISTORICAL FINANCIAL HIGHLIGHTS
Historical Performance (Consolidated)
Revenue (Rs. Crs)
EBITDA (Rs. Crs)
PAT (Rs. Crs)
+26.3%
471.7
346.8
354.8
373.4
+58.3%
63.8
+434.5%
44.9
26.5
29.7
40.3
FY 19
FY 20
FY 21
FY 22
FY 19
FY 20
FY 21
FY 22
2.3
FY 19
0.4
FY 20
8.4
FY 21
FY 22
EPS (in Rs)
EBITDA Margin (%)
PAT Margin (%)
+437.9%
38.0
7.1
13.5%
10.8%
7.6%
8.4%
9.5%
2.0
FY 19
0.3
FY 20
Investor Presentation Q4-FY22
FY 21
FY 22
FY 19
FY 20
FY 21
FY 22
0.7%
FY 19
0.1%
FY 20
2.2%
FY 21
FY 22
10
Capital Disciplined Growth
RoCE* (%)
RoE# (%)
Net Debt to Equity (x)
22.5%
15.8%
10.0%
9.9%
FY 19
FY 20
FY 21
FY 22
2.9%
FY 19
0.5%
FY 20
34.3%
2.1
1.9
9.7%
1.4
0.4
FY 21
FY 22
FY 19
FY 20
FY 21
FY 22
Cash Flow from Operations (Rs. Crs.)
47.8
48.6
38.5
28.8
FY 19
FY 20
FY 21
FY 22
#RoE = Net Profit/Avg. Total Equity *RoCE = EBIT/Avg. Capital Employed Capital Employed = Total Assets – Current Liabilities
11
Investor Presentation Q4-FY22
Historical Profit & Loss Statement (Consolidated)
Particulars (Rs. Crs)
Revenue from Operations
Cost of Materials Consumed Change in Inventories of finished goods, work-in-progress and stock-in-trade
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
Exceptional Item
PBT
Total Tax Expense
Profit for the year
PAT %
Investor Presentation Q4-FY22
FY22
471.7
328.0
-2.4
146.1
31.0%
30.2
52.1
63.8
13.5%
1.8
12.1
53.6
13.0
-
40.6
-4.3
44.9
9.53%
FY21
373.4
262.0
3.1
108.3
29.0%
27.6
40.4
40.3
10.8%
2.1
12.4
30.0
16.5
-
13.5
5.1
8.4
2.2%
FY20
354.8
262.5
-6.4
98.8
27.8%
25.2
43.9
29.7
8.4%
1.5
12.2
19.0
18.6
-
0.4
0.0
0.4
FY19
346.8
248.7
1.2
96.8
27.9%
24.0
46.3
26.5
7.6%
7.5
12.7
21.4
19.9
0.8
1.5
0.0
2.3
0.1%
0.7%
12
Historical Balance Sheet (Consolidated)
EQUITY & LIABILITIES (Rs. Crs)
Mar-22 Mar-21 Mar-20 Mar-19
ASSETS (Rs. Crs)
Mar-22 Mar-21 Mar-20 Mar-19
Equity Share Capital
Other Equity
Total Equity
Financial Liabilities
Borrowings
Provisions
Other Financial Liabilities
Lease Liabilities
11.8
160.2
172.0
11.8
78.1
89.9
11.8
70.1
81.9
11.8
69.9
81.7
63.7
97.0
106.7
118.2
2.2
0.1
1.9
4.3
0.1
2.2
5.4
0.1
2.3
4.3
0.1
0.0
Total Non-Current Liabilities
67.9
103.6
114.5
122.5
Financial Liabilities
Borrowings
Trade payables
Other Financial Liabilities
Other Current Liabilities
Lease Liabilities
Total Current Liabilities
24.0
57.9
2.4
10.3
0.2
94.9
TOTAL EQUITY & LIABILITIES
334.9
Investor Presentation Q4-FY22
35.9
72.3
2.0
4.2
0.1
39.8
56.6
21.1
2.3
0.1
32.7
52.6
25.5
2.3
0.0
114.6
308.0
119.9
316.4
113.0
317.3
Property, Plant and Equipment
159.4
170.2
178.9
187.8
Right of Use of Assets
Capital Work-in-progress
Financial Assets
(i)
Investments
(ii) Loans
(ii) Other Financial Assets
Other Non Current Assets
Deferred tax assets (net)
Non-Current Tax Assets (Net)
Total Non-Current Assets
Inventories
Financial Assets
(i) Trade Receivable
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances
(iv) Other Current Financial Assets
Loans
Other Current Assets
Current tax assets
Non current Assets held for sale
Total Current Assets
TOTAL ASSETS
8.8
0.4
5.0
0.1
4.5
4.5
4.3
2.6
8.9
0.3
0.0
0.1
3.9
-
0.5
2.0
9.2
0.3
0
1.9
2.1
0.7
5.3
0.5
-
4.0
0
1.7
2.1
0.7
5.1
0.8
189.6
45.6
186.0
41.0
199.0
41.7
202.3
35.9
66.4
52.7
56.9
66.3
18.7
4.8
0.8
0.1
3.6
0.0
5.2
1.7
4.2
1.7
0.1
1.7
0.0
5.2
6.2
4.5
0.7
1.1
4.5
0.8
5.1
145.2
334.9
122.1
308.0
117.4
316.4
0.8
4.1
1.1
1.1
10.0
0.0
5.0
115.0
317.3
13
Historical Cash Flow Statement (Consolidated)
Particulars (Rs in Cr)
Profit before Tax
Operating profit before working capital changes
Changes in working capital
Cash generated from operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities (A)
Mar-22
Mar-21
Mar-20
Mar-19
40.6
65.0
(15.6)
49.3
(0.7)
48.6
13.4
41.1
7.3
48.5
(0.6)
47.8
0.4
30.3
8.9
39.1
(0.7)
38.5
2.4
29.9
0.0
29.9
(1.1)
28.8
Net Cash from Investing Activities (B)
(10.5)
(1.5)
(6.2)
7.2
Net Cash from Financing Activities (C)
(21.2)
(50.8)
(26.8)
(37.6)
Net Change in cash and cash equivalents
17.0
(4.5)
5.4
(1.6)
Investor Presentation Q4-FY22
14
The Exciting Future
Biax Division
Coex Division
Exports
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∙ ∙ ∙
∙
∙
∙ ∙ ∙
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The only manufacturer of dielectric films in India meeting about 33% of domestic needs. The balance presently met through imports offers a natural market. Capacitors essential to electricity distribution and consumption; A growing market with added thrust on infrastructure; Huge new opportunities in sunrise applications particularly in the EV Segment, with multi-fold capacitor application in e- mobility, convenience and safety systems including Power Control Unit inverter circuits, DC link power capacitors, start stop systems, high intensity discharge xenon lamps, passive key entry systems, pressure monitoring systems, driver information and entertainment systems; climatization, air-bag, braking systems etc. Further impetus from PLI schemes and import restrictions for the component ecosystem. Drive to reduce imports from China is a positive. Company has announced intent and plans to create additional capacity to meet these demands….
Over the years company has evolved into the dominant player, well respected and enjoys a high market share in supplies to the Indian Refrigerator industry. Indian refrigerator industry has generally been growing consistently, and has attracted (and continues to attract) many global players to set up manufacturing facilities in India aimed at the domestic and export markets; Large Indian companies also entering the field. India is emerging as a hub for refrigerator manufacturing due increasing localization levels. Policy of encouraging domestic manufacturing, changing customer preference and channel proliferation are positives. Refrigerator penetration in India is amongst the least amongst white good categories (<50%), with Euromonitor projecting 14% growth during CY20-25E. Xpro is also looking to leverage the relationship with white good manufacturers, to expand product portfolio.
The Company is already exporting Dielectric and specialized Films to developed markets like the USA and Germany which are markets with rigorous technical requirements. Sheets for refrigerator application are exported to neighbouring countries. Dielectric/Capacitor film exports today are restricted by capacity and since India is a substantial importer. Globally, the manufacturing of thin dielectric films is highly oligopolistic. With the expansion of capacity, the company would be in a position to cater to the global markets. Looking to target global markets with value-added products.
Investor Presentation Q4-FY22
15
The Company
An introduction…
Diversified Business Operating In Niche Segments
Xpro India Limited:
Is a diversified multi-divisional, multi-locational business catering to multiple end user industry segments and enjoying a strong Brand Equity
Has core competencies in the polymer processing and co-extrusion industry with technical skills honed through years of experience
Enjoys a Leadership position in Dielectric/Capacitor films • Only Indian manufacturer of “Dielectric/Capacitor Films” • Contributing to an “Atmanirbhar” India… And onwards to the World…
Is long-established Leader in supplies of sheets/liners to refrigerator industry • The largest supplier of Coextruded Sheets/Liners to the Indian Refrigerator Industry • Servicing most refrigerator units • Longest standing in the Indian industry
World class plants across the country in Maharashtra, Uttar Pradesh, and West Bengal
Caters to large clients in target industries, and enjoys a very strong market share
Has strong corporate governance, an emphasis on integrity, sound management and a progressive attitude
Investor Presentation Q4-FY22
17
Diverse Product Range for Specialized Applications
Dielectric / Capacitor Films
Speciality Biaxially Oriented Polypropylene Films
Coextruded Plastic Sheets
Thermoformed Liners
Cast Coextruded Films
Investor Presentation Q4-FY22
18
Diversified End Use
Essential application in high growth & sunrise sectors White Goods, EV & Hybrid vehicles …
Investor Presentation Q4-FY22
19
Multi Location
Faridabad
Coex Division, Greater Noida
Delhi
Biax Division, Barjora
Kolkata
Mumbai
Coex Division, Ranjangaon
Hyderabad
Chennai
Production Facilities
Registered Office
Corporate Office
Other Offices
Investor Presentation Q4-FY22
20
Some of our Valued Partner Clients…
•
•
•
•
•
•
•
list
Impressive customers comprising leading Indian, and Transnational Companies
of
Xpro a key partner over many years
Customers builds in Quality and consistency
recognise that Xpro
Xpro does not compromise in Safety, environment or regulatory requirements
Stable, long-term relationships
Pass-thru understandings insulate from polymer price fluctuations
Status as partner of choice!
Investor Presentation Q4-FY22
21
Biax Division
THE ONLY DOMESTIC PRODUCER OF CAPACITOR/DIELECTRIC FILMS
Potential Uses of Biax Dielectric films
Capacitors for hybrid cars and EVs
Application areas include
∙
∙
∙ ∙ ∙
Capacitors for use in Fan, Cooler, Washing Machine and Air Conditioners Power Transmission & Distribution Capacitors Power Film/Electronic Capacitors Magnetic Lighting Ballast Capacitors Motor Run Capacitors
∙ ∙
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∙ ∙ ∙
Microwave Oven Capacitors Low Voltage industrial Power Factor Correction Capacitors AC and Pulse Film Capacitors Interference Suppression Capacitors Energy Storage applications DC Link Capacitors Capacitors for Hybrid/EV cars
Investor Presentation Q4-FY22
23
Product Portfolio
Dielectric Grade BOPP Film
Dielectric / Capacitor Films
•
•
•
•
•
Specialty Biaxially Oriented BOPP Film – very different from packaging grade and other types of BOPP Films;
Xpro Biax Dielectric Films are specially designed polypropylene films manufactured by the stenter process on highly specialized equipment in controlled environmental & ultra clean room conditions for a wide range of applications in the capacitors industry;
Range includes plain I smooth films modified for good metallization with Al, Zn or Alloy and winding for normal and high temperature applications, High temperature Super grade, hazy I rough and semi rough films;
Films are available in thickness range of 3µ to15µ (lower thickness down to 2µ under development);
Dielectric films are ideally suited for high performance capacitors, both for normal and high temperature applications, high temperature super grade for AC aging and ripple current condition at elevated temperature, high roughness films for oil impregnated high voltage application capacitors and semi rough films for metallization and oil impregnation for capacitors for locomotive applications;
Film types offered include:
Oil Impregnation Film Hazy Film
a.
Metallisable Film a. b. c. d.
Standard Film High Temp Film High Temp Super Grade Semi Rough Film
Investor Presentation Q4-FY22
24
Manufacturing Facilities
Barjora, West Bengal
•
•
•
•
•
•
•
is
Xpro the Capacitor/Dielectric Films;
only
domestic
producer
of
BOPP films produced with main equipment from Bruckner, Germany;
Film technology originally sourced from U.K.;
Dielectric film technology developed in-house is constantly updated;
Product and technical capabilities well recognised by Indian and export customers;
The technical expertise at Biax, supported by excellent in-house R&D facilities, has enabled successful development of new range of films for specialized industrial applications;
in a specialized equipment operating Highly controlled environmental and under ultra clean room conditions;
Investor Presentation Q4-FY22
25
Dielectric Film Unit at a glance
Investor Presentation Q4-FY22
26
Key Milestones – Biax Division
1992
Barjora Established
2003
Pithampur Acquired
2011
Pithampur Merged (exit in 2018)
2002 Metalliser
2005-09
Pithampur (JV)
2015 New Dielectric Film Unit
Investor Presentation Q4-FY22
27
Coex Division
LEADERSHIP POSITION IN SUPPLIES OF SHEETS/LINERS TO REFRIGERATOR INDUSTRY
Product Portfolio - Coextruded Plastic Sheets
Coextruded Plastic Sheets
Multi-layer Co-extruded Sheets
•
•
Xpro offers a wide range of mono-layer and coextruded plastic sheets, produced on highly sophisticated equipment based on various thermoplastic resins (such as PS, PP, ABS, PE etc.) needs, to meet designed specially specifications and colour choice;
customer
specific
Sheets are available in cut or roll form, with thicknesses ranging from 0.2 mm to 7 mm, in widths up to 2300 mm, and with embossed or plain (matt or glossy) finish;
Investor Presentation Q4-FY22
29
Product Portfolio – Sheet & Thermoformed Components
Sheet Applications
•
•
•
•
•
•
XPRO COEX have several for continuous vacuum forming for thickwall applications at the Greater Noida and Ranjangaon units;
fully automatic specialized lines
Thermoforming plants specially designed for high production requirements with auto-sheet loading, pre-heat stations, full micro- processor control and fast tool change capabilities;
Sophisticated electronic controls ensure quick machine set-up, fast and precise control of the heating elements and easy re-programming of production parameters ensuring high productivity and repeatable quality;
Primary application is for Refrigerator inner and door liners;
Thermoforming capabilities extend to include Automotive interior and exterior trims (e.g. dash boards, door panels, floor panels, etc.); Furniture; Luggage Shells; Sanitary Products (e.g. Bath-tubs, Cabinets); Electrical/electronic housings (Light panels, street lamps and other light fittings); Industrial trays for material handling etc.;
Thermoforming as a process offers advantages of lower tooling and prototyping costs, lower part weight, lower material costs, larger parts, good surface quality and finish and flexibility in design;
Investor Presentation Q4-FY22
30
Product Portfolio - Cast Coextruded Films
Cast Coextruded Films
Xpro Cast Films are produced on the most sophisticated multilayer coextrusion film lines.
A wide range of speciality cast films are offered including
Release Films
Hygiene Films
Stretch Wrap Film
Soft Blister Film
Polyethylene based embossed or plain films tailor-made for use in rubber, tyre & tread and conveyor belting industry
for
formulated
cast Specially coextruded film based on Polyethylene as diaper backing film, in under- pads, in sanitary napkins, adult incontinence products and in surgical drapes.
use
Cast coextruded LLDPE based film designed for use in pallet stretch wrap food bundle overwraps.
and
Specially coextruded medical packaging.
formulated film for disposables
Investor Presentation Q4-FY22
31
Manufacturing Facilities
Greater Noida, (Uttar Pradesh)
Ranjangaon, Maharashtra
•
•
•
•
•
Xpro is the predominant player and leader in supplies of Sheet/liner to the Indian Refrigerator Industry;
The Coex Division is engaged in the manufacture of Coextruded Multilayer Plastic Sheets and Coextruded Multilayer Cast Films and operates eight multilayer sheet lines, and five sophisticated thermoforming system specially designed for forming of refrigerator door and cabinet liners, as well as two co-extruded multilayer cast film manufacturing lines;
Xpro extruded products are based on a variety of polymers and are tailor-made to meet specific customer requirements with applications restricted only by imagination;
The product offering includes a wide range of co-extruded plastic sheets for wide-spread use. The cast co-extruded films produced are primarily speciality products;
Since its inception, the division has established itself as the leading source in India for both Co-extruded Plastic Sheets and Speciality Cast Co-extruded Films and has built up a client base encompassing leading Indian and Multi-national units;
Investor Presentation Q4-FY22
32
Coex Division at a glance
Investor Presentation Q4-FY22
33
Key Milestones – Coex Division
1984
1985
1993 & 1996
2001
Sheets (Faridabad)
Cast Films (Faridabad)
Significant expansion (sheets)
Significant expansion (cast films)
2003
2004
2008
2008
Thermoforming (Gr. Noida)
Sheets (new unit Gr. Noida)
Sheets (new unit Ranjangaon)
Thermoforming (Ranjangaon)
2010, 2011 & 2012
Significant Expansion (Ranjangaon & Gr. Noida)
2013 & 2014
2016
2016
New Unit and Significant expansion at Ranjangaon
New Cast Film Unit at Ranjangaon
Faridabad Operations suspended
2017
2017
Expansion (Cast films) (Ranjangaon)
Expansion (sheets) (Ranjangaon)
Investor Presentation Q4-FY22
34
Well Recognised…..
Investor Presentation Q4-FY22
35
A sample representation of awards and other recognition earned by Biax and Coex Divisions of the Company for vendor support, product development, quality and excellence
Certification
At Xpro, we firmly recognize that total customer satisfaction is the key to our success. Our aim is to build sound customer relationships through creation of value for them, and in the process earn an equitable return for ourselves. Quality is built into products through appropriate manufacturing technology and work methods. Manufacturing at all units is carried out by suitably qualified personnel under strict quality standards. Continuous product development for specific applications and equipment up-gradation has helped us in proactively developing technically sustainable solutions with clear customer benefits.
Division
Accredition under ISO Standards
Biax – Barjora Unit
•
Integrated Management Systems (IMS) covering Quality, Environmental Policies and Safety & Health standards duly certified under ISO 9001:2015; ISO 14001:2015 and ISO 45001:2018.
• Energy Management System certified under ISO 50001:2018 •
IATF 16949:2016 which defines the requirements of a quality management system for organizations in the automotive industry
Coex - Greater Noida Unit
• Quality Management System certified under ISO 9001:2015 • Environment Management System certified under ISO 14001:2015 • Energy Management System certified under ISO 50001:2018 • Also accredited under GreenCo Company Rating System
Coex - Ranjangaon Unit
• Quality Management System certified under ISO 9001:2015 • Environment Management System certified under ISO 14001:2015
Xpro units also adopt and conform to specialized quality systems and methods as may be required by major customers.
Investor Presentation Q4-FY22
36
Board of Directors
Sri Sidharth Birla (Chairman)
Sri K Balakrishnan (Independent Director)
Industrialist with experience in industry and business of about 44 years, is a Science Honors Graduate and
holds a Master’s Degree in Business Administration from IMEDE (now IMD), Lausanne, Switzerland. Has
attended management programs at
the Harvard Business School, Boston, USA,
including the
Owner/President Management Program, Making Corporate Boards More Effective, etc. Associated with
the businesses of the Company since 1984. Presently Independent Director on the Board of listed entity,
Kanoria Chemicals & Industries Limited. He is also Director of Birla Brothers Private Ltd., Central India
General Agents Ltd., iPro Capital Ltd., and Alpha Capital Resources Pte. Ltd., Singapore.
A qualified Chartered Accountant and Company Secretary with over three decades of professional
experience, he has expertise in financial services, providing strategic and financial advice to Indian &
multinational corporations, financial sponsors and business families. Currently, Chairman of Kriscore
Financial Advisors Private Ltd., he has earlier been Chairman & Managing Director of Lazard India and
Head of Corporate Finance & Advisory for HSBC Investment Bank. Presently Independent Director on the
Board of Fedbank Financial Services Ltd. (Unlisted) and Director in Kriscore Financial Advisors Private Ltd.
& Kriscore Ventures Private Ltd.
Smt. Madhushree Birla (Director)
Sri Amitabha Guha (Independent Director)
Graduate from University of Ahmedabad, was first appointed on the Board of the Company in the year
Holds a Master’s Degree in Science from University of Kolkata. He has expertise in finance and banking
2004. She has served as Director and Advisor of various Corporate Bodies at different times. Has attended
spanning over 3 decades. Formerly Managing Director of State Bank of Hyderabad, Deputy Managing
management program at the Harvard Business School, Boston, USA, on Making Corporate Boards More
Director of State Bank of India and Chairman of The South Indian Bank Ltd. He is presently Independent
Effective. She is presently Executive Director of iPro Capital Ltd. and is also engaged with social and
Director of Ramkrishna Forgings Ltd. and Texmaco Rail & Engineering Limited (both listed entities) and
philanthropic bodies. She is on the Board of Directors of Alpha Capital Resources Pte. Ltd., Singapore,
Director of Khazana Jewellery Private Ltd. and Support Elders Private Ltd.
Intellipro Finance Pvt. Ltd. and Xpro Global Ltd.
Investor Presentation Q4-FY22
37
Board of Directors
Sri Ashok Kumar Jha (Independent Director)
An IAS Officer -1969 batch, he has had a 39 years stint in the Civil Services and held crucial positions in
State and Central Government, with wide experience in foreign policy, industrial promotion, international
trade, as well as economic affairs and finance. He retired from government service as the Finance
Secretary, Government of
India, having also served as Secretary (Economic Affairs), Secretary
(Department of Industrial Policy and Promotion), etc. He subsequently had a two-year stint as Executive
President of Hyundai Motor India and is presently Independent Director of Minda Corporation Ltd. and
Setco Automotive Ltd. (both listed)
Sri Bharat Jhaver (Non-Independent Director) A Chemical Engineer with a Master’s degree from Cornell, USA. Presently President of family-owned
Tablets (India) Limited, with experience of over a decade in managing multi-varied businesses with
expertise in Pharmaceuticals and in establishing and managing joint ventures. He is presently a Director
on the Board of Dhunseri Ventures Limited (Listed Entity), Sinto Bharat Manufacturing Private Limited,
Amethyst Properties Private Limited, Eldorado Properties Private Limited and Southern India Chamber of
Commerce & Industry. and a Designated Partner in RSRK Estates LLP, Shravan Ventures LLP, Just Rental
Holdings LLP and Grande Assets Madras LLP. He is also a member of the National Executive Committee of
FICCI, of the Executive Committee of YPO-Chennai and a Trustee of the Birla Education Trust, Pilani.
Ms. Suhana Murshed (Independent Director)
Sri Utsav Parekh (Independent Director)
Holds a Master’s Degree in Law (LLM) from King’s College London, United Kingdom and is affiliated with
the Bar Council of Maharashtra and Goa. She is a partner at Khaitan & Co. Advocates, specializing in
transactional work with a primary focus on mergers and acquisitions, private equity investments and
strategic alliances with experience of over fifteen years. A regular speaker at various forums on topics on
corporate and commercial laws, she has been recognized by IFLR 1000 as a ‘Notable Practitioner’ for two
consecutive years i.e., 2021 and 2020. She is presently Independent Director on the Boards of Kanoria
Chemicals & Industries Limited, SAREGAMA India Ltd. and STEL Holdings Ltd. (listed entities) and Director
in Sallum Private Ltd.
Holds a Bachelor’s Degree in Commerce with honours. He has vast and continuing experience of about
41 years as Merchant Banker, and in Stock Broking and Financial Services. He is a member of the Calcutta
Stock Exchange Ltd. He is presently Non-Executive Chairman of SMIFS Capital Markets Ltd., non-
executive Director of Eveready Industries India Limited (listed entities) and independent director of
listed entities Spencer’s Retail Limited, Texmaco Infrastructure & Holdings Ltd. and Texmaco Rail &
Engineering Ltd., and is also a Director on the Boards of Bengal Aerotropolis Projects Ltd., Indian
Chamber of Commerce, Calcutta, Lend Lease Company (India) Ltd., Nexome Real Estates Private Ltd.,
ATK Mohun Bagan Private Limited, Progressive Star Finance Private Limited and SMIFS Capital Services
Ltd. He is a Partner of Stewart & Co., Catch 22 Informatics LLP, Chowringhee Planners LLP, Ellora Agro
LLP, Nexome Realty LLP and Nexome Sports LLP.
Investor Presentation Q4-FY22
38
Board of Directors
Sri S Ragothaman (Independent Director)
Sri C Bhaskar (Managing Director & Chief Executive Officer)
A Commerce Graduate and Chartered Accountant. Presently a self-employed professional. Formerly a
senior official of ICICI Ltd.; he has to his credit vast experience of over 45 years in the field of Finance. He is
presently also Independent Director of listed entities National Peroxide Ltd., and The Bombay Dyeing &
Manufacturing Company Ltd. He is also a Director of ABT Finance Ltd. and Xpro Global Ltd.
A Chemical Engineer and a post-graduate from IIM, Calcutta, with experience of over 43 years in
Consulting, Industry, Business and Financial Management including over 38 years with the businesses of
the Company. Has worked in areas of Corporate and Business planning, Diversification/
Mergers/Acquisition/Disinvestment, Marketing, Operations and Factory Management, and as Divisional/
Business Head. He has attended management development programmes at the Indian School of Business
and other Institutions. He is also Independent Director of listed entities Kriti Industries (India) Ltd. and Kriti
Nutrients Ltd. and a Director of Xpro Global Ltd. and Holland & Sherry India Pvt. Ltd. Involved in several
trusts - temple, social and philanthropic.
Investor Presentation Q4-FY22
39
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Xpro India 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 cash flows, 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.
Investor Presentation Q4-FY22
40
Thank You
Company
Xpro India Limited
CIN: L25209WB1997PLC085972
Mr. Amit Dhanuka amit.dhanuka@xproindia.com
www.xproindia.com
Investor Relations Advisor
Orient Capital (a division of Link Group)
Mr. Irfan Raeen : +91 9773778669 irfan.raeen@linkintime.co.in
Mr. Rajesh Agrawal:+91 9967491495 rajesh.agrawal@linkintime.co.in