Shreyas Shipping & Logistics Limited has informed the Exchange regarding Investor Presentation
Shreyas Shipping and Logistics Ltd Earnings Presentation | 9M / Q3-FY19
COMPANY OVERVIEW
2
Company Snapshot
1st private container shipping company to be registered in India
Market leader in both Domestic & EXIM Transhipment business on Indian coast
Pioneer in containerized coastal shipping in India
Servicing most container ports in India than any other domestic company
Owns & operates largest number of container fleet on coastal services in India
Offering on-time connectivity in transhipment segment
Largest Indian company to offer service between Mundra and Kolkata
Servicing coastal break bulk trade in India
3
Company Overview
•
Incorporated in 1988, Shreyas Shipping and Logistics Ltd (Shreyas), is a part is the 40-year old global conglomerate Transworld Group, and of headquartered in Mumbai, India.
Historical Revenue (INR Mn)*
5,406
4,645
• The company is a pioneer and market leader in domestic coastal container shipping services and coastal transhipment services covering most major ports and container terminals on the Indian coast.
2,907
3,130
2,481
3,702
• Shreyas also pioneered domestic multimodal transportation in India and it continues to command its premier position till date. It is a preferred partner of most Main Line Operators for EXIM transhipment services at various Indian ports.
• Shreyas primarily operates four fixed day weekly schedule services offering scheduled containerised cargo connectivity between Indian ports right up to Jebel Ali (Dubai).
• Through its associate entity, Avana Global Logistek Ltd (earlier known as SRSL, the company also offers door to door logistics support services to its customers.
• Due to its fixed schedule operations, wider port connectivity and larger domestic container fleet size, Shreyas commands a majority market share of over 90% in EXIM transhipment business and more than 50% in the domestic container business.
FY14
FY15
FY16
FY17
FY18
9M-FY19
FY18 Revenue Breakup#
Breakbulk 5%
EXIM 39%
Domestic 56%
* Standalone # approximate
4
Fleet Details
Name
SSL Gujarat
SSL Bharat
SSL Kochi
SSL Krishna
SSL Brahmaputra SSL Chennai
SSL Balaji
Year Built Capacity G.R.T.
1997 1,613 TEUs 18,602 MT
1997 2,959 TEUs 29,383 MT
1998 1,725 TEUs 21,339 MT
2002 2,490 TEU 27,322 MT
2003 4,273 TEUs 39,441 MT
1998 700 TEUs 8,214 MT
2007 671 TEUs 8,407 MT
Name
SSL Kutch
SSL Visakhapatnam SSL Mumbai
SSL Delhi
SSL Sabarimalai SSL Ganga
Year Built Capacity G.R.T.
1998 1,725 TEUs 21,339 MT
1996 1,613 TEUs 18,602 MT
1997 1,613 TEUs 18,602 MT
2000 2,478 TEUs 25,369 MT
2003 1,118 TEUs 12,993 MT
2003 1,541 TEUs 16,145 MT
Fleet Size
13
Average Fleet Age
18.83 Yrs
Total Capacity
24,519 TEUs
Total GRT
2,66,258
Total Deadweight
3,36,573
5
Services at a Glance
Jebel Ali
Mundra
Kandla
Hazira
Pipavav
Kolkata
Haldia
Paradip
PIX 1
PIX 2
SMILE
ECC
ECX (FG)
Kakinada
Krishnapatnam Mangalore
Kattupalli
Cochin
Tuticorin
Colombo
PIX 1: SSL Ganga: Mundra – Hazira – Cochin – Tuticorin – Mangalore – Mundra SSL Kutch : Kandla – Cochin – Kandla
PIX 2: SSL Bharat, SSL Delhi, SSL Kochi: Jebel Ali – Mundra – Krishnapatnam – Kattupalli – Tuticorin – Cochin - Jebel Ali
SMILE: SSL Brahmaputra: Kandla - Mundra – Cochin – Tuticorin – Pipavav – Kandla
ECC (coastal): SSL Chennai, Indian Express: Krishnapatnam – Kolkata – Krishnapatnam
ECX (FG): SSL Visakhapatnam, SSL Sabarimali, Malte Rambo : Krishnapatnam – Colombo –Krishnapatnam – Haldia – Krishnapatnam
Time Charter : SSL Balaji, SSL Krishna, SSL Chennai, SSL Gujarat, SSL Mumbai
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Q3-FY19 EARNINGS OVERVIEW
7
Q3-FY19 Operational Highlights
• Utilisation levels on all the services from North to South and West to East remained at the level of around 95% and on the reverse leg was around 70 % during the quarter.
• The average bunker rate for the quarter was INR 38,500 per MT (compared to 35,500 per MT in previous quarter). However, lower voyage operational days during the quarter led to decrease in consumption of fuel oil due to which the fuel cost decreased by INR 2 Cr.
• Exchange gain amounted to INR 1.75 Cr due to exchange rate fluctuation.
• The volumes handled in terms of TEUs during the quarter saw an increase of
5.8% Q-o-Q and 5.0% increase Y-o-Y.
• Dry dock of SSL Brahmaputra was completed in November 2018.
• During the quarter, “SSL Krishna”, “SSL Balaji” and “SSL Chennai” were
chartered out.
• During the quarter “Indian Express” was chartered in for East Coast
operation.
52%
11
Domestic Market Share
Vessels Operated
85%
EXIM Market Share
3 Vessel on charter
25,600
350,000
TEUs
Dead weight Tonnage
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Q3-FY19 Financial Highlights
INCOME (INR Mn)
1,564
1,575
1,407
EBIDTA (INR Mn)
EBITDA Margin
262
191
159
18.62%
10.17%
12.13%
Q3-FY18
Q2-FY19
Q3-FY19
Q3-FY18
Q2-FY19
Q3-FY19
Q3-FY18
Q2-FY19
Q3-FY19
PAT (INR Mn)
PAT Margin
EPS (INR)
189
13.43%
8.59
128
51
8.13%
5.81
3.26%
2.34
Q3-FY18
Q2-FY19
Q3-FY19
Q3-FY18
Q2-FY19
Q3-FY19
Q3-FY18
Q2-FY19
Q3-FY19
9
Q3-FY19 Standalone Income Statement
PARTICULARS (INR Mn)
Q3-FY19
Q3-FY18
Income
Operating Expenses
EBITDA
EBITDA Margin (%)
Other Income
Finance Cost
Depreciation
Exceptional Items
Profit Before Tax
Taxation
Profit After Tax
PAT Margin (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
1,575
1,384
191
1,407
1,145
262
Y-o-Y
11.9%
20.9%
(27.1)%
Q2-FY19
1,564
1,405
159
Q-o-Q
0.7%
(1.5)%
20.1%
12.13%
18.62%
(649) Bps
10.17%
196 Bps
35
49
59
13
131
3
128
26
38
60
-
190
1
189
34.6%
28.9%
(1.7)%
NA
(31.1)%
200.0%
(32.3)%
.8
48
62
(3)
54
3
51
337.5%
2.1%
(4.8)%
NA
142.6%
NA
151.0%
8.13%
13.43%
(530) Bps
3.26%
487 Bps
51
179
5.81
-
189
8.59
NA
(5.3)%
(32.4)%
(77)
(26)
2.34
NA
NA
148.3%
10
9M-FY19 EARNINGS OVERVIEW
11
9M-FY19 Financial Highlights
INCOME (INR Mn)
EBIDTA (INR Mn)
EBITDA Margin
3,821
4,645
816
522
21.36%
11.24%
9M-FY18
9M-FY19
9M-FY18
9M-FY19
9M-FY18
9M-FY19
PAT (INR Mn)
PAT Margin
EPS (INR)
577
15.10%
26.29
241
5.19%
10.98
9M-FY18
9M-FY19
9M-FY18
9M-FY19
9M-FY18
9M-FY19
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9M-FY19 Standalone Income Statement
PARTICULARS (INR Mn)
9M-FY19
9M-FY18
Income
Operating Expenses
EBITDA
EBITDA Margin (%)
Other Income
Finance Cost
Depreciation
Exceptional Items
Profit Before Tax
Taxation
Profit After Tax
PAT Margin (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR)
Y-o-Y
21.6%
37.2%
(36.0)%
NA
(12.1)%
52.2%
10.7%
NA
(58.1)%
(50.0)%
(58.2)%
4,645
4,123
522
3,821
3,005
816
11.24%
21.36%
33
92
159
(13)
585
8
577
29
140
176
10
245
4
241
5.19%
(87)
154
10.98
15.10%
(991) Bps
10
587
26.29
NA
(73.8)%
(58.2)%
13
HISTORICAL FINANCIALS
14
Standalone Income Statement
PARTICULARS (INR Mn)
Income
Operating Expenses
EBITDA
EBITDA Margin (%)
Other Income
Finance Cost
Depreciation
Exceptional Items
Profit Before Tax
Taxation
Profit After Tax
PAT Margin (%)
Other Comprehensive Income
Total Comprehensive Income
Diluted EPS (INR) *As per IndAS
FY15
2,907
1,872
1,035
FY16
3,130
2,430
700
FY17*
FY18*
9M-FY19*
3,702
3,202
500
5,406
4,291
1,115
4,645
4,123
522
35.60%
22.36%
13.51%
20.63%
11.24%
15
70
89
(350)
541
8
533
50
89
160
-
501
15
486
56
101
176
(232)
47
12
35
36
128
190
(13)
820
11
809
18.33%
15.52%
0.95%
14.96%
-
533
24.27
-
486
22.17
39
74
1.60
(16)
793
36.85
29
140
176
10
245
4
241
5.19%
(87)
154
10.98
15
Financial Highlights*
INCOME (INR Mn)
EBIDTA (INR Mn)
PAT (INR Mn)
5,406
1,035
1,115
2,907 3,130
2,481
3,702
700
500
341
809
533
486
-81
35
FY14 FY15 FY16 FY17** FY18**
FY14
FY15
FY16 FY17** FY18**
FY14
FY15
FY16 FY17** FY18**
Net Debt Equity (x)
Debt/TEU (INR)
Cash Flow from Operating Activities
0.7
0.7
0.6
0.4
0.5
1,17,076 1,10,735
91,457
88,670
94,109
788
420
538
521
595
FY14 FY15 FY16 FY17** FY18**
FY14
FY15
FY16 FY17** FY18**
FY14 FY15 FY16 FY17** FY18**
*Standalone ** As per Ind-AS
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Capital Market Data
Stock Return (As on 31st December, 2018)
Shreyas Shipping
Sensex
20%
0%
-20%
-40%
-60%
-80%
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Sep-18
Oct-18
Nov-18
Dec-18
Price Data (As on 31st December, 2018)
Shareholding Structure (As on 31st December, 2018)
Face value (INR)
Market Price (INR)
52 Week H/L (INR)
Market Cap (INR Mn)
Equity Shares Outstanding (Mn)
1 Year Avg. trading volume (‘000)
10.0
207.75
645.0/154.1
4,562.2
21.96
11.7
1.28%
29.78%
68.94%
Promoters
Public
FII & DII
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Earnings Concall Details
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Disclaimer
Shreyas Shipping and Logistics Ltd Disclaimer : No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Shreyas Shipping and Logistics Ltd (“Company” or “Shreyas Shipping and Logistics Limited”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.
Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.
This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.
This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.
Valorem Advisors Disclaimer: Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and 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. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.
Mr. Anuj Sonpal Valorem Advisors Investor Relations Management Tel: +91-22-4903-9500 Email: shreyas@valoremadvisors.com
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THANK YOU
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