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December 2015
Corporate Presentation
Apar Industries Limited Corporate Presentation
Company Overview
Overview
Company
Segmental Performance
Power Sector Overview
Financial Performance
Annexure
2
Apar Industries Limited Corporate Presentation
Among top 5 Conductors manufacturers and 4th largest Transformer Oils manufacturer in the
world.
Diverse Portfolio
Over 400 types of Specialty and Automotive oils; largest range of conventional and new
generation Conductors and a comprehensive range of power and telecommunication Cables.
Conductors
Pioneer in adoption of new technologies and development of value added products creating
new market segments through in-house research & development programmes.
Specialty Oils
Multi-year relationships with Indian and global majors resulting in large repeat business.
Exports to 100 countries; plants strategically located close to ports/customers.
Strong Alliances
Brand and manufacturing alliance with global energy leader ENI S.P.A Italy and technical
alliance with CTC Global (USA) for manufacture of new generation carbon composite
Conductors.
Auto Lubes
Specialty Oils
Cables
Auto Lubes
Since 1958
Since 1969
Since
Since1969
2008
Since 2007
Total Capacity:4,42,000KL
Revenue Contribution
45%
38%
11%
5.4%
4
Apar Industries Limited Corporate Presentation
Economic
Revival
Demand for
Advanced
Technology
Products
Exports
opportunity
Conductors - Rs 113 Cr
Margin
stability
with higher
forex cover
Cables Rs 147 Cr
Apar Industries Limited Corporate Presentation
Setup green field Khatalwad plant for E-beam Elastomeric Cables & OFC Cables.
Setup E-Beam facility with 2 accelerators (1.5 MeV & 3.0 MeV) for handling
cables & other products.
Optical fibre and Elastomeric cables capacity doubled in FY14 to meet growing
domestic demand and radically change product mix produced.
Expansion & de-bottlenecking of HT/LT Cables capacity at Umbergaon plant.
6
Cables
Margin
stability
with higher
forex cover
Auto lubes & Industrial
Oils
7
Apar Industries Limited Corporate Presentation
Company Overview
Company Overview
Segmental Performance
Performance
Segmental
Power Sector Overview
Financial Performance
Annexure
8
Apar Industries Limited Corporate Presentation
19% CAGR
2,318
2,195
14% CAGR
103
1,650
1,326
151
142
96
79
1,363
986
FY10
FY11
FY12
FY13
FY14
FY15
FY10
FY11
FY12
FY13
FY14
FY15
Revenue dropped in FY14 due to sluggish domestic market owing to weak PGCIL demand
9
Apar Industries Limited Corporate Presentation
Expanded
Export
market capacities
2,500
2,000
Improving Domestic
market
Launch of UDAY
Indian market is
improving with more
orders at better prices &
faster delivery schedules
35%
18%
1,000
Favorable tax
jurisdiction; closer to
port; can supply to both
export & domestic
market competitively
40%
31%
1,500
500
Developing
technologically superior
High Efficiency
Conductors (HeC) like
ACCC
Strategically located
45%
38%
677
1,085
21%
30%
1,355
17%
1,077
1,344
2,077
10%
241
286
FY10
FY11
FY12
PGCIL
Apar Industries Limited Corporate Presentation
273
FY13
Non PGCIL
FY14
% of PGCIL
20%
15%
10%
840
309
25%
5%
241
0%
Export Market
Concentrated efforts to
drive exports
Improved product
Improved product
Launch Of UDAY mix
mix
Will boost T&D
Introduction of new
investments; leading to
products and focus on
increased Transformer
high-end products
Oils demand
2,395
2,224
1,544
1,107
FY10
FY11
FY12
FY13
FY14
FY15
278
284
300
327
328
Brand
Strengthening
243
200
123
139
94
FY09
FY10
FY11
FY12
FY13
FY14
569
556
FY14
FY15
Launch of UDAY
Will increase
demand for HT/LT
Cables due to
increase in spending
from DISCOMs
New product
development
Several new
products being
developed to
increase market
penetration
Optical Fiber
market to grow
Exploring new
markets
Govts e-governance
project to drive OFC
market
Exploring new
markets like material
handling & mining
E-Beam
Several applications
of E-Beam to drive
growth in next 2-3
years
13
Apar Industries Limited Corporate Presentation
Only site in India with 2 Electron Beams: 1.5 MeV and 3.0
MeV.
Plant commissioned in Q1FY14.
Growing demand from various industries.
Full benefits to be realized in 2-3 years.
Wide Application
Specialised Wiring Cables
Other Application
Irradiation services
Railways
Polymer materials
Defence
Auto components
Ship building
Diamond
Solar Cables
Medical sterilization
E-beam Trolleys
India has 5 E-beam facilities, China has over 100. 50%+ are used in Cables.
14
Apar Industries Limited Corporate Presentation
Company Overview
Company Overview
Segmental Performance
Segmental Performance
Power Sector Overview
Power Sector Overview
Financial Performance
Annexure
15
Apar Industries Limited Corporate Presentation
With Increasing Generation capacity and healthy pipeline of projects in the construction phase,
SEBs weak financial health remains the main concern.
Launch of UDAY (Ujwal DISCOM Assurance Yojana)- UDAY aims at permanent resolution of
DISCOMs issues, which are the weakest link in providing 24X7 Power for All. The scheme will focus
on interest cost reduction by states taking over Discoms debt, increasing operational efficiency &
reducing cost of power.
Other Initiatives in the Distribution Sector includes schemes like Deen Dayal Upadhyaya Gram Jyoti
Yojana (Rs 75,893 Cr), Integrated Power Development Scheme (Rs 65,424 Cr) etc.
Resolving fuel Problems: Coal India ramped up production by 7% in FY15, highest rate in two
decades; Coal imports jumped 20% in FY15. Plan is to boost annual production to 1 bn tonnes by
2019 to meet growing fuel demand.
Per capita consumption of electricity
(India)
12947
3475
18
884
50
1010
272 16%
15%
245
14%
223
12%
200
12%
(In 000 MW)
11%
174
10%
10%
148 159
143
9%
8%
8%
124 132
8%
6%
6%
3%
2%
1950
2012
2015
China*
*China and US figures are as on 2012
Apar Industries Limited Corporate Presentation
4%
0%
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
16
Operational
Efficiency
Enabling Quarterly
Tariff Increase
Expected outcomes
States shall take over 75% of DISCOMs debt as on 30 September 2015; 50% by 2015-16, 25% by 2016-17
reducing the cost of Interest.
States will fund the future losses (if any) of DISCOMs in a graded manner to ensure permanent resolution of
DISCOM issues through a hard budget constraint.
Focus on Transmission capacity addition to ensure inter regional power transfer and reduce transmission losses
currently at 4-5% by 1%.
Completion of railway lines, JV with states, increasing Coal Indias production to over 900mn MT per annum by
2019 to reduce cost of power.
Increasing operation efficiency will include improving billing efficiency via smart metering & loss tracking,
collection efficiency through public awareness and optimum tariff increase.
17
18
Apar Industries Limited Corporate Presentation
32,250
27,472
5,250
765 kV
400 kV
(In ckm)
1,74,000
2,45,027
1,96,027
1,51,027
25,000
765 kV
11th plan end
400 kV
12th Plan end
(In MVA/MW)
Higher voltage equipment addition will boost growth for company due to low competition in segment
19
Company Overview
Company Overview
Segmental Performance
Segmental Performance
Power Sector Overview
Power Sector Overview
Financial Performance
Performance
Financial
Annexure
20
Apar Industries Limited Corporate Presentation
4,651 4,633
5,122
3,595
2289
Export,
33%
2,236
744
Domest
ic, 67%
FY11
Conductors
19% CAGR
2,195
15% CAGR
1,650
1,326 1,363
986
FY10 FY11 FY12 FY13 FY14 FY15
2,395
1,958 2,037
3078
1400
1555
2569
1025
FY12
FY13
Exports
Specialty Oils
2,318
3251
3,449
1,673
FY14 FY15
Domestic
Cables
569 556
2,224
28% CAGR
315
1,544
1,107
128
355
404
183
21
Apar Industries Limited Corporate Presentation
Debtor Days
Inventory Days
Payables Days
FY11
83
59
85
FY12
88
69
85
FY13
64
59
116
FY14
87
80
108
FY15
90
67
112
FY11
1.1
0.0
4.4
FY12
1.2
0.1
1.7
FY13
1.1
0.1
2.1
FY14
1.2
0.1
1.9
FY15
1.2
0.1
1.5
Current Ratio
D/E
Interest Coverage
22
Apar Industries Limited Corporate Presentation
Company Overview
Company Overview
Segmental Performance
Segmental Performance
Power Sector Overview
Power Sector Overview
Financial Performance
Annexure
23
Apar Industries Limited Corporate Presentation
Key Milestones
Greenfield Expansion to meet growing export & domestic demand
2012
2010
2008
2007
2002
1998
1969
1958
Apar Industries Limited Corporate Presentation
2000
24
Most Common
AAC
ACSR
AAAC
High Efficiency
TACSR/STACIR
GZTACSR
ACSS/TW
ACCC
Specialty
AL59 & AL57
AACSR/ACAR
ACSR/AW
Earth wires
Specialty Oils
Cables
Power
Power Cables
E-Beam Cables for
Railways, Wind, Solar
& Defence
Telecom
Optical Fiber Cables
(OFC)
Special Cables
combining Power &
Communication
Auto Lubes
Auto Lubes
Diesel Engine Oils
3-wheelers Oils
Motorcycle Oils
Transmission Fluids
Passenger Car Motor
Oils
Gas Engine Oils
Marine Oils
25
Apar Industries Limited Corporate Presentation
1
2
Warehouse
Apars presence
Oil
Conductor
Australia
South Africa
Turkey
Cable
Adopted a hub and spoke manufacturing and distribution model for specialty oils - allows efficient delivery cycles to global
transformer OEMs across Asia, Africa and Australia
Presence in over 100 countries with a focus on South East Asia, Middle east, Africa and South America
26
Gujarat
Maharashtra
Manufacturing Units.
Rabale (Maharashtra),
Silvassa & Athola (Union Territory
of Dadra and Nagar Haveli),
Umbergaon & Khatalwad (Gujarat)
27
Apar Industries Limited Corporate Presentation
28
Apar Industries Limited Corporate Presentation
Company Overview
Segmental Performance
Power Sector Overview
Financial Performance
Annexure- Financials
29
Apar Industries Limited Corporate Presentation
FY11
FY12
FY13
FY14
FY15
351
1
15
9
24
1
49
586
703
239
38
1,566
1,967
211
-493
689
415
147
13
1,756
1,967
523
1
627
2
696
2
730
1
35
13
41
3
91
33
10
14
3
60
70
23
7
3
102
95
27
2
4
128
949
840
410
19
2,217
2,833
940
1,484
121
24
2,570
3,258
708
1367
98
24
2198
2998
387
1,573
121
16
2,096
2,956
252
359
422
450
684
865
832
146
54
2,581
2,833
80
751
814
1,055
133
67
2,900
3,258
2
1017
1103
231
175
48
2576
2998
5
944
1,267
100
151
39
2,506
2,956
30
FY11
3,033
0
3,033
FY12
3,595
0
3,595
FY13
4,651
2
4,653
FY14
4,632
4
4,636
FY15
5,122
2
5,124
2,370
11
2,945
11
3,645
29
3,606
77
4,112
63
-4
40
397
-62
48
437
2
-20
57
628
5
-8
67
595
1
-90
79
705
0
2,814
3,381
2
4,344
4
4,335
0
4,870
219
21
45
154
58
214
22
116
77
3
309
24
135
150
40
301
254
27
145
129
39
31
150
72
23
96
1
95
74
-1
73
110
-1
109
90
-0
90
49
0
50
EXPENSES:
Cost of raw materials and components consumed
Purchases of stock-in-trade
Changes in inventories of finished goods, work-inprogress and stock-in-trade
Employee benefits expense
Other expenses
Exceptional items
Less: Transfer to Capital Assets
TOTAL EXPENSES (ii)
31
Apar Industries Limited Corporate Presentation
Q2 FY16
1,241.2
9.6
1,250.9
1,162.4
963.9
20.9
177.6
0.0
Q2 FY15
1,233.1
10.5
1,243.6
1,166.3
961.8
17.5
187.0
-
% Chg YoY
0.7%
(8.5%)
0.6%
-0.3%
0.2%
20.0%
-5.1%
NM
Q1 FY16
1,240.6
7.2
1,247.8
1,155.3
960.3
20.1
175.1
0.1
% Chg QoQ
0.0%
33.0%
0.2%
0.6%
0.4%
4.4%
1.4%
NM
FY15
4,968.7
42.3
5,011.0
4,769.7
3,985.9
70.0
713.8
0.0
88.4
77.3
14.4%
92.5
-4.4%
241.2
0.8
89.3
8.6
80.7
18.5
1.2
78.5
7.6
70.9
17.0
(29.1%)
13.7%
12.3%
13.9%
8.2%
0.1
92.6
8.2
84.4
18.4
NM
-3.6%
4.2%
-4.3%
0.3%
8.4
249.6
31.0
218.6
65.4
25.6
30.2
-15.2%
24.0
6.6%
84.7
36.6
23.6
55.1%
41.9
(12.6%)
68.5
36.6
12.3
24.3
24.3
23.6
7.7
16.0
16.0
NM
55.1%
60.7%
52.5%
52.5%
41.9
14.4
27.6
27.6
NM
-12.6%
-14.2%
-11.8%
-11.8%
0.3
68.2
20.4
47.9
47.9
32
Q2 FY16
Q2 FY15
Q1 FY16
EBITDA Margin
7.1%
6.3%
7.4%
Net Margin
1.9%
1.3%
2.2%
92.9%
93.8%
92.6%
77.1%
77.3%
77.0%
1.7%
1.4%
1.6%
14.2%
15.0%
14.0%
33
Apar Industries Limited Corporate Presentation
Q2 FY16
Q2 FY15
%YoY
Q1 FY16
% QoQ
FY15
653.8
457.1
133.8
8.8
1,253.5
2.7
1,250.9
28.8
54.6
3.7
0.2
87.2
44.1
6.5
36.6
563.9
565.4
110.3
6.2
1,245.7
2.1
1,243.6
41.2
33.0
0.3
0.6
75.1
47.2
4.2
23.6
16.0%
(19.2%)
21.3%
43.3%
0.6%
28.7%
0.6%
0.0%
-30.2%
65.5%
NM
-66.1%
16.2%
-6.7%
55.7%
55.2%
639.7
463.5
140.0
6.9
1,250.0
2.2
1,247.8
31.4
54.1
4.5
0.8
90.8
42.5
6.5
41.9
-2.2%
(1.4%)
(4.5%)
28.6%
-0.3%
22.2%
-0.2%
0.0%
-8.4%
0.9%
(18.1%)
-76.3%
-3.9%
3.8%
1.0%
-12.6%
2,320.1
2,115.2
560.1
23.4
5,018.8
7.8
5,011.0
117.4
98.1
20.1
2.1
237.6
150.1
19.3
68.2
4.4%
11.9%
2.8%
7.0%
7.3%
5.8%
0.3%
6.0%
4.9%
11.7%
3.2%
7.3%
5.1%
4.6%
3.6%
4.7%
Q2 FY'16
52.2%
36.5%
10.7%
Q2 FY'15
45.3%
45.4%
8.9%
Q1 FY'16
51.2%
37.1%
11.2%
FY'15
46.2%
42.1%
11.2%
34
Shareholding pattern
As on Nov 20, 2015
Outstanding shares 3,84,96,769
Others, 7.5%
Bodies
Corporate,
14.7%
DII, 11.2%
FII, 8.4%
Promoter,
58.2%
Shareholding (%)
9.45
6.77
Reliance Capital
3.54
Goldman Sachs
2.94
Raiffeisen Kapitalanlage
2.54
1.78
1.11
1.04
35
Apar Industries Limited Corporate Presentation
Contact us
For any Investor Relations queries, please contact:
Sanjaya Kunder
Apar Industries Ltd
Phone: +91 22 67800400
Email: kunder@apar.com
Nisha Kakran
Phone: +91 22 4215 3659
Mumbai
Nisha.kakran@four-s.com
Seema Shukla
Phone: +91 124 425 1443
Gurgaon
seema@four-s.com
This presentation may have certain statements that may be forward looking including those relating to general business plans and strategy of
Apar Industries Ltd., its future outlook and growth prospects. The actual results may differ materially from these forward looking statements due
to a number of risks and uncertainties which could include future changes or developments in Apar Industries Ltd.(Apar), the competitive
environment, the companys ability to implement its strategies and initiatives, respond to technological changes as well as sociopolitical,
economic and regulatory conditions in India.
All financial data in this presentation is obtained from the audited financial statements and the various ratios are calculated based on these
data. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, invitation or a solicitation of any
offer, to purchase or sell, any shares of Apar and should not be considered or construed in any manner whatsoever as a recommendation that
any person should subscribe for or purchase any of Apars shares. None of the projection, expectations, estimates or prospects in this
presentation should be construed as a forecast implying any indicative assurance or guarantee of future performance, nor that the assumptions
on which such future projects, expectations, estimates or prospects have been prepared are complete or comprehensive .
This presentation is for information purposes only. This document and its contents should not be forwarded or delivered or transmitted in any
manner to any person other than its intended recipients, and should not be reproduced in any manner whatsoever. The recipients further
represents and warrants that : (i) It is lawfully able to receive this presentation under the laws of the jurisdiction in which it is located, and / or
any other applicable laws, (ii) It is not a U.S. person, (iii) This presentation is furnished to it, and has been received, outside of the United States,
and (iv) It will not reproduce, publish, disclose, redistribute or transmit this presentation, directly or indirectly, into the United States or to any
U.S. person either within or outside of recipients organisation.
36
Apar Industries Limited Corporate Presentation