Prism Johnson Limited
3,935words
5turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
41.8%
44.0%
35.1%
21.0%
₹ 16,919
1.4%
₹ 1,548
₹ 408
₹ 750,
370 basis point
9.1%
Speaking time
2
1
1
1
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Opening remarks
Executive Summary
Consolidated (Ex. RQBE) FY22 Financial Performance Snapshot (1/2) www.prismjohnson.in Revenue Q1 FY23 revenue grew by 41.8% YoY led by strong growth across all divisions, partly due to a favourable base as the second wave of Covid-19 impacted business volumes during Q1 FY22 Prism Cement 44.0% HRJ 35.1% Prism RMC 21.0% Revenue Mix Prism Cement constituted 44.0% of Q1 FY23 revenue; HRJ constituted 35.1% and Prism RMC constituted 21.0% ₹ 16,919 mn Q1 FY23 Revenue EBITDA EBITDA Margin 6 2 5 , 1 2 2 Y F 1 Q 3 2 7 , 1 2 2 Y F 2 Q 0 6 3 , 1 2 2 Y F 3 Q 4 3 5 , 1 2 2 Y F 4 Q 8 4 5 , 1 3 2 Y F 1 Q EBITDA Q1 FY23 EBITDA grew by 1.4% YoY to ₹ 1,548 mn; Prism Cement’s EBITDA per ton improved from ₹ 408 in Q4 FY22 to ₹ 750, partly led by improvement in realisations % 8 . 2 1 2 2 Y F 1 Q % 3 . 2 1 2 2 Y F 2 Q % 0 . 9 2 2 Y F 3 Q % 9 . 8 2 2 Y F 4 Q % 1 . 9 3 2 Y F 1 Q EBITDA Margin Q1 FY23 EBITDA Margin declined by 370 basis points YoY to 9.1% due to rising input cost pressures, mainly for Prism Cem
Executive Summary
Consolidated (Ex. RQBE) FY22 Financial Performance Snapshot (2/2) www.prismjohnson.in Working Capital Operating FCF 3 2 2 2 Y F 1 Q 5 2 7 2 2 2 Y F 2 Q 2 2 Y F 3 Q 8 1 2 2 Y F 4 Q 4 2 3 2 Y F 1 Q Cash Conversion Cycle* Efficient management of Working Capital; Working Capital Days stood at 24 days in Q1 FY23 9 4 8 0 2 9 8 , 2 2 Y F 3 Q 2 2 Y F 4 Q ) 0 2 ( 3 2 Y F 1 Q ) 9 8 2 ( 2 2 Y F 1 Q 8 4 6 2 2 Y F 2 Q Operating Free Cash Flow Operating Free Cash Flow (FCF) (pre-capex and investments) was ₹ (20) million in Q1 FY23 6.0 4.0 2.0 0.0 -2.0 -4.0 -6.0 -8.0 1.6 8 6 1 , 3 1 1 2 - n u J 1.8 2.0 2.0 2.1 3 5 0 , 4 1 8 9 2 , 4 1 4 3 5 , 2 1 1 2 - p e S 1 2 - c e D 2 2 - r a M 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 6 6 0 , 3 1 2 2 - n u J Net Debt Net Debt to TTM EBITDA Net Debt ROCE Strong Balance Sheet Net Debt to TTM EBITDA at 2.1x as on June 30, 2022; Net Debt / Equity stood at 0.9x as of June 30, 2022 % 0 . 4 1 2 2 Y F 1 Q % 2 . 7 1 2 2 Y F 2 Q % 9 . 1 1 2 2 Y F
RMC sector with pan India presence
Operates 97 plants at 44 cities Pan India Presence Three technical labs that are certified by National Accreditation Board for Testing and Calibration Laboratories to ensure strict adherence to quality Quality Control Backward integration: Three quarries (aggregates & manufactured sand) Backward Integration Key Focus Areas: Increase plant utilisation levels, increase share of value added products and focus on individual home builder segment Key Focus Areas Beneficiary of demand recovery from real estate and infrastructure segments; Good traction in mega business as Prism RMC won several infrastructure projects that will be executed over the next 2-3 years Growth Outlook Strong ROCE potential for existing business with improvement in plant capacity utilisation levels Strong ROCE Potential INVESTOR PRESENTATION For The Quarter Ended June 2022 12 Prism RMC: Strong Revenue Growth Potential www.prismjohnson.in Revenue (₹ million) EBITDA (₹ million) 8 4 5 , 3 9 4 3 , 2 8 2 9 , 2 7 6 1 , 3 0
New products launched during the quarter
Commercial Lines: Bharat Griha Raksha, Bharat Sookshma Udyam Suraksha, Bharat Laghu Udyam Suraksha and Plate Glass & Neon Signs / Glow Signs Insurance RQBE added 77 partners during Q1 FY23 taking the count of total partners to 3,268 including Agents, Brokers, POSP, IMF, MISP, Web Aggregators and OEM Q1 FY23 Financial Highlights: • Gross Written Premium: ₹ 1,167 million, growth of 21% over Q1 FY22 • Profit / (Loss) Before Tax: ₹ (358) million vs. ₹ (336) million in Q1 FY22 • Profit / (Loss) After Tax: ₹ (355) million vs. ₹ (335) million in Q1 FY22 • Combined Ratio stands at 148% (vs. 158% in Q1 FY22) • Well capitalized with solvency ratio of 1.8x against regulatory minimum of 1.50x • AUM of ₹ 7.99 billion as on June 30, 2022 Update on Sale of RQBE: During the quarter, the share sale and purchase transaction with Paytm Insuretech Private Limited to divest the Company’s stake in RQBE has automatically terminated. The Company will continue to evaluate the future prospects of the Company’s
Address
“Rahejas”, Main Avenue, V. P. Road, Santacruz (W), Mumbai—400 054 Safe Harbor Certain statements in this release concerning our future growth prospects are forward-looking statements which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company.
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