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t
Bv e-filinq
sEcl1811/2016
18tn
November,2016
BSE Ltd.
Corporate Relationship Department,
27tn Floor, Phiroze Jeejeebhoy Towers,
Dalal Street,
Fort,
Mumbai - 400 001.
November, 2016
Dear Sin.
Yours Faithfully,
For Apar Industries Limited
(Sanjaya Kunder)
Encl. : As Above
REGD,
l:(+91){265)23231751232317612322798.Fr(+91)(265)2330309.E:opor.borodo@opor.com.u:w}ywqpor,com
CIN :
l-91 I
Corporate Presentation
November 2016
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
Diverse Portfolio
Driving growth
through innovation
Trusted by prominent
customers
Conductors
Strong Alliances
Robust financials
Auto Lubes
Cables
Specialty Oils
Cables
Auto Lubes
Since 1958
Since 1969
Since 2008
Since 2007
Total Capacity:4,42,000KL
Revenue Contribution
50%
31%
13%
5%
4
Apar Industries Limited Corporate Presentation
Growth
Drivers
Power Sector
Increased Focus on Transmission & Distribution (T&D)
5
Apar Industries Limited Corporate Presentation
Conductors - Rs 1,970 Mn
Cables Rs 1,975 Mn
Apar Industries Limited Corporate Presentation
Cables
Company Overview
Company Overview
Segmental Performance
Performance
Segmental
Power Sector Overview
Financial Performance
Annexure
8
Apar Industries Limited Corporate Presentation
14% CAGR
11% CAGR
2,318
2,195
2,550
142
1,650
1,326 1,363
151
103
1,156
170
108
96
78
FY11
FY12
FY13
FY14
FY15
FY16 H1FY17
FY11
FY12
FY13
FY14
FY15
FY16 H1FY17
Revenue dropped in FY14 due to sluggish domestic market owing to weak PGCIL demand
9
Apar Industries Limited Corporate Presentation
Improving Domestic
market
Launch of UDAY
Indian market is
improving with more
orders at better prices &
faster delivery schedules
Expanded
Export
market capacities
Strong focus on exports;
one of the lowest cost
manufacturers of
Conductors in the world
3,000
(In Rs Cr)
31%
2,500
21%
18%
20%
17%
10%
2,000
1,000
500
677
1,085
286
FY10
FY11
FY12
PGCIL
Apar Industries Limited Corporate Presentation
-5%
-25%
840
241
25%
-15%
1,377
1,077
309
2,048
Favorable tax
jurisdiction; closer to
port; can supply to both
export & domestic
market competitively
35%
5%
2,077
Developing
technologically superior
High Efficiency
Conductors (HeC) like
ACCC
Strategically located
45%
15%
1,355
1,500
FY13
Non PGCIL
273
241
FY14
FY15
% of PGCIL
502
-35%
-45%
FY16
10
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
4% CAGR
1,958 2,037
2,224
1,841
1,544
840
FY11
FY12
FY13
FY14
FY15
FY16
H1FY17
284
300
327
328
337
171
FY11
FY12
FY13
FY14
FY15
FY16
Brand
Strengthening
H1FY17
11
Apar Industries Limited Corporate Presentation
243
263
200
139
FY11
136
FY12
FY13
FY14
FY15
FY16
16% CAGR
315
FY11
355
FY12
569
556
404
FY13
373
FY14
FY15
FY16
H1FY17
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
6%
300
8%
3%
7%
9%
250
200
150
124
132
148
143
159
174
0%
-10%
-20%
100
-30%
50
0
-40%
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16
Capacity (In 000 MW)
% Growth
3475
18
1950
884
1010
2012
2015
China*
US*
(In KW)
10%
Expected Outcomes
UDAY
An Integrated
approach
Implementation Status
1,44,819
1,06,819
54,450
9,432 16,872
27,472
5,250
32,250
765 kV
12th Plan end
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
Consolidated Revenue
11% CAGR
4,651 4,632
3,033
5,122 5,080
3,595
2,219
Export,
35%
2,384
814
Domestic,
65%
2,500
FY11
FY11
FY12
FY13
FY14
FY15
FY12
FY16 H1FY17
1,825 1,744
1,400 1,570
1,095
FY13
FY14
Exports
FY15
FY16
Domestic
2,550
14% CAGR
4% CAGR
2,318
2,195
Cables
Specialty Oils
Conductors
2,395
1,958 2,037
1,650
16% CAGR
569
1,841
315
1,544
1,326 1,363
675
2,224
355
556
404
373
1,156
840
FY11
FY12
FY13
FY14
FY15
FY16 H1FY17
FY11
FY12
FY13
FY14
FY15
FY16 H1FY17
FY11
FY12
FY13
FY14
FY15
FY16 H1FY17
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
FY16
78
56
101
Current Ratio
D/E
Interest Coverage
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
FY16
1.2
0.1
2.2
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
Company
Incorporated
with
Conductors
business
Transformer
Oils, Refinery
in Mahul,
Chembur
Setup
Rabale Oils
plant
Entered into
Auto Lubes
segment via
license
agreement
Setup Silvassa
with ENI
Oils &
Italy
Conductors
plant
Acquired
Uniflex Cables
to diversify
into Cables
manufacture
Global
Presence
in 100
Countries
2016
2013
2012
2010
2008
2007
2000-02
1998
1969
1958
Installed 2 EBeam
Accelerators
Successfully
diversified
into Sp Oils
business
Greenfield
Expansion to
meet growing
demand
Conductors
plant set up
at Athola
Greenfield
expansion
into tax free
jurisdiction
Diversificati
on into
large
opportunity
in Auto
Lubes
Segment
Set up
Conductors
Plant in
Jharsuguda &
Setting up
Oils plant in
Sharjah
Entered
Cables
business to
expand
portfolio
and forward
integration
State of
the art
R&D unit
set up at
Rabale
New
Generation
Technology
to build
largest EBeam facility
in India
Greenfield
Expansion to
meet growing
export &
domestic
demand
To cater to
reviving
Domestic
demand &
move closer
to
International
Oils clients
24
High Efficiency
TACSR
STACIR
GZTACSR
ACCC
ACSS/TW
AL59 & AL57
Conventional
AAC
ACSR
AAAC
AACSR/ACAR
ACSR/AW
Earth wires
Specialty Oils
Cables
Power
Power Cables
Elastomeric and Flexible
Cables
E-Beam Cables for
Railways, Wind, Solar &
Defence
Anushakti E Beam
House Wires
Telecom
Optical Fiber Cables
(OFC)
Special Cables
combining Power &
Communication
Auto Lubes
Auto Lubes
Diesel Engine Oils for
Commercial and
Agriculture equipment
Diesel Engine Oils for 3wheelers Oils
Motorcycle Oils
Passenger Car Motor
Oils
Transmission Fluids and
Greases
25
Apar Industries Limited Corporate Presentation
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
Orissa
Gujarat
Maharashtra
Manufacturing Units.
Rabale (Maharashtra),
Silvassa & Athola (Union Territory
of Dadra and Nagar Haveli),
Umbergaon & Khatalwad (Gujarat)
Jharsuguda (Orissa)
27
Apar Industries Limited Corporate Presentation
28
Apar Industries Limited Corporate Presentation
Company Overview
Segmental Performance
29
Apar Industries Limited Corporate Presentation
FY11
FY12
FY13
FY14
FY15
FY16
351
1
523
1
627
2
696
2
730
1
859
2
15
9
24
1
49
35
13
41
3
91
33
10
14
3
60
70
23
7
3
102
95
27
2
4
128
84
31
2
4
121
586
703
239
38
1,566
1,967
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
264
1,406
139
2
1,811
2,793
211
252
359
422
450
531
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
109
775
1,089
137
147
5
2,262
2,793
-493
689
415
147
13
1,756
1,967
30
EXPENSES:
Cost of raw materials and components
consumed
Purchases of stock-in-trade
Changes in inventories of finished goods,
work-in-progress and stock-in-trade
Employee benefits expense
Other expenses
Exceptional items
Less: Transfer to Capital Assets
TOTAL EXPENSES (ii)
EARNINGS BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION
(EBITDA) (i-ii)
Depreciation and amortisation expense
Finance costs
PROFIT BEFORE TAX
TAX EXPENSES:
PROFIT AFTER TAX BUT BEFORE MINORITY
INTEREST FOR THE YEAR
Minority Interest (Profit)/loss
PROFIT FOR THE YEAR
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
FY16
5,080
3
5,083
2,370
2,945
3,645
3,606
4,112
3,793
11
11
29
77
63
68
-4
40
397
-62
48
437
2
-20
57
628
5
-8
67
595
1
-90
79
705
0
21
91
744
-43
2,814
3,381
2
4,344
4
4,335
0
4,870
1
4673
219
214
309
301
254
410
21
45
154
58
22
116
77
3
24
135
150
40
27
145
129
39
31
150
72
23
38
151
221
57
96
1
95
74
-1
73
110
-1
109
90
-0
90
49
0
50
164
-1
163
31
Q2 FY17
1,370.0
11.7
1,381.7
1,281.4
970.7
25.4
169.2
117.4
1.3
Q2 FY16
1,349.0
9.6
1,358.6
1,269.4
961.6
23.0
170.5
114.4
-
% Chg YoY
1.6%
21.9%
1.7%
0.9%
0.9%
10.4%
-0.8%
2.6%
NM
Q1 FY17
1,188.9
4.7
1,193.6
1,083.4
759.2
25.8
187.7
111.7
1.0
% Chg QoQ
15.2%
148.9%
15.8%
18.3%
27.9%
-1.6%
-9.9%
5.1%
30.0%
H1 FY17
2,558.8
16.4
2,575.3
2,364.8
1,729.8
51.2
356.8
229.1
2.3
H1 FY16
2,711.4
16.9
2,728.3
2,548.9
1,930.5
45.2
333.2
240.1
0.1
% Chg YoY
-5.6%
-3.0%
-5.6%
-7.2%
-10.4%
13.3%
7.1%
-4.6%
NM
100.3
89.2
12.4%
110.2
-9.0%
210.5
179.3
17.4%
4.3
104.6
10.5
94.1
20.9
1.9
91.1
9.3
81.8
17.6
126.3%
14.8%
12.9%
15.0%
18.8%
4.0
114.2
9.8
104.4
23.5
7.5%
-8.4%
7.1%
-9.9%
-11.1%
8.2
218.8
20.2
198.5
44.4
3.3
182.6
18.2
164.5
37.7
148.5%
19.8%
11.0%
20.7%
17.8%
3.7
26.5
-86.0%
11.5
-67.8%
15.2
49.9
-69.5%
69.5
37.8
83.9%
69.4
0.1%
139.0
76.8
81.0%
69.5
23.9
45.7
-
37.8
12.7
25.1
-
NM
83.9%
88.2%
82.1%
NM
69.4
23.8
45.6
-
NM
0.1%
0.4%
0.2%
NM
139.0
47.7
91.3
-
76.8
26.1
50.8
-
NM
81.0%
82.8%
79.7%
NM
45.7
25.1
82.1%
45.6
0.2%
91.3
50.8
79.7%
-0.1
45.6
-0.1
24.9
NM
83.1%
-0.1
45.5
NM
0.2%
-0.1
91.1
-0.2
50.5
NM
80.4%
32
Apar Industries Limited Corporate Presentation
Q2 FY17
Q2 FY16
Q1 FY17
H1 FY17
H1 FY16
EBITDA Margin
8.3%
7.3%
10.6%
9.3%
7.3%
Net Margin
3.6%
2.0%
4.2%
3.9%
2.0%
92.1%
92.8%
89.8%
91.0%
92.8%
76.8%
77.3%
70.2%
73.7%
77.6%
2.0%
1.8%
2.4%
2.2%
1.8%
13.4%
13.7%
17.3%
15.2%
13.4%
Note: All Ratios are calculated on Net Operating Revenue (excluding Excise duty)
33
Apar Industries Limited Corporate Presentation
Q2 FY17
Q2 FY16
%YoY
Q1 FY17
% QoQ
H1 FY17
H1 FY16
%YoY
720.8
444.8
210.7
11.3
1,387.7
6.0
1,381.7
696.2
509.2
146.8
9.0
1,361.3
2.7
1,358.6
3.5%
-12.6%
43.5%
25.6%
1.9%
122.2%
1.7%
545.0
452.4
192.7
8.7
1,198.8
5.2
1,193.6
32.3%
-1.7%
9.3%
29.9%
15.8%
15.4%
15.8%
1,265.9
897.2
403.4
20.0
2,586.4
11.2
2,575.3
1,402.7
1,010.7
303.7
15.9
2,733.1
4.9
2,728.3
-9.8%
-11.2%
32.8%
25.8%
-5.4%
128.6%
-5.6%
44.5
39.3
13.7
1.5
99.0
24.6
24.6
57.9
5.5
0.3
88.2
44.0
80.9%
-32.1%
149.1%
NM
12.2%
-44.1%
-24.6%
42.2
55.8
10.1
1.0
109.1
35.0
5.5%
-29.6%
35.6%
50.0%
-9.3%
-29.7%
4.3%
86.7
95.1
23.8
2.5
208.1
59.6
56.1
110.3
9.7
1.2
177.2
87.6
54.5%
-13.8%
145.4%
108.3%
17.4%
-32.0%
-24.4%
9.6
139.0
12.7
76.8
4.9
69.6
6.5
37.8
6.8%
9.8%
6.8%
7.8%
3.8%
12.6%
4.1%
7.1%
8.5%
13.7%
5.9%
10.0%
7.5%
11.8%
6.4%
8.8%
4.3%
12.1%
3.5%
7.1%
Q2 FY17
Q2 FY16
Q1 FY17
H1 FY17
H1 FY16
51.9%
32.1%
15.2%
51.1%
37.4%
10.8%
45.5%
37.7%
16.1%
48.9%
34.7%
15.6%
51.3%
37.0%
11.1%
84.1%
4.7
69.4
0.3%
81.0%
As at
30.09.2016
As at
31.03.2016
407.9
36.9
8.7
2.6
384.8
20.8
10.1
2.7
0.3
4.5
41.8
502.8
0.3
45.5
464.2
772.2
765.9
48.3
1,196.8
92.2
20.8
144.3
11.0
2,285.7
109.2
1,069.6
75.6
13.8
138.6
5.1
2,178.0
2,788.4
2,642.2
ASSETS
1 Non-Current assets
(a) Property, Plant and Equipment
(b) Capital work-in-progress
(c) Goodwill
(d) Other Intangible assets
(e) Financial Assets
(i) Investments
(ii) Trade receivables
(iii) Other financial assets
Sub-total- Non-Current assets
2 Current assets
(a) Inventories
(b) Financial Assets
(i) Investments
(ii) Trade receivables
(iii) Cash and Cash equivalents
(iv) Bank balances other than (iii) above
(v) Other financial assets
(c) Other current assets
Sub-total-Current assets
TOTAL - ASSETS
35
Apar Industries Limited Corporate Presentation
As at
30.09.2016
As at
31.03.2016
38.5
839.8
38.5
722.3
41.8
4.2
30.3
3.2
79.5
60.3
3.5
29.3
2.3
95.4
Non-Current liabilities
(a) Financial Liabilities
(i) Borrowings
(b) Provisions
(c) Deferred tax liabilities (Net)
(d) Other non-current liabilities
Sub-total-Non-Current liabilities
Current liabilities
(a) Financial Liabilities
(i) Borrowings
(ii) Trade payables
(b) Other current liabilities
(c) Provisions
Sub-total-Current liabilities
TOTAL - EQUITY AND LIABILITIES
172.1
1,520.5
136.5
1.6
1,830.7
263.8
1,399.3
122.1
0.8
1,786.0
2,788.4
2,642.2
36
Apar Industries Limited Corporate Presentation
Shareholding pattern
As on Sep 30, 2016
Outstanding shares 3,84,96,769
Others,
8.8%
Bodies
Corporate,
12.7%
DII, 11.4%
Promoter,
58.2%
FII/FPI,
8.9%
Shareholding (%)
9.45
6.90
Reliance Capital
3.44
Goldman Sachs
2.94
Raiffeisen Kapitalanlage
1.77
2.45
Kedia Securities
1.04
37
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/ unaudited 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.
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Apar Industries Limited Corporate Presentation