DWARIKESH SUGAR INDUSTRIES LIMITED We can because we think we can 2011-12 Dwarikesh Sugar Industries Limited
DWARIKESH SUGARINDUSTRIES LIMITED
We can because we think we can
2011-12 Dwarikesh Sugar Industries Limited
REGISTERED OFFICE DWARIKESH SUGAR INDUSTRIES LIMITED DWARIKESH NAGAR – 246762 DISTRICT BIJNOR – UTTAR PRADESH
CORPORATE OFFICE 511, MAKER CHAMBER V 221, NARIMAN POINT MUMBAI – 400 021
2011-12 Dwarikesh Sugar Industries Limited
STATUTORY AUDITORS S S KOTHARI MEHTA AND CO. CHARTERED ACCOUNTANTS 146-149 TRIBHUVAN COMPLEX, ISHWAR NAGAR, MATHURA ROAD, ND – 65
BANKERS PUNJAB NATIONAL BANK INDUSTRIAL DEVELOPMENT BANK OF INDIA SERVA U.P. GRAMIN BANK DISTRICT COOPERATIVE BANK
SOLICITORS MULLA & MULLA & CRAIGIE BLUNT & CAROE KANGA & CO.
2011-12 Dwarikesh Sugar Industries Limited
BOARD ROOM
Mr. G R Morarka
Mr. K L Garg
Mr. B K Agarwal
Mr. K N Prithviraj
Mr. B J Maheshwari
Mr. V S Banka
2011-12
CMD – (Key Promoter)
IDBI Nominee
Ex-Secretary (Industry), Maharashtra
Ex CMD of Oriental Bank of Commerce
Whole Time Director & CS CUM CCO
Whole Time Director & CFO
Dwarikesh Sugar Industries Limited
MEN AT THE HELM
2011-12 Dwarikesh Sugar Industries Limited
1 Ms. Priyanka G. Morarka Vice President (Corporate Affairs) 2 Mr. K. P. Gadia Vice President (Commercial) 3 Mr. R. K. Gupta Vice President (Works) 4 Mr. A. K. Mishra Vice President (Works) 5 Mr. Salil Swaroop Arya General Manager (Administration) 6 Mr. Alok Lohia General Manager (Finance) 7 Mr. Sudhir Kumar General Manager (Engg) 8 Mr. Shravan Kumar Sharma General Manager (HRD) 9 Mr. Rajendra Singh Thakur General Manager (Engg) 10 Mr. Surendra Pratap Singh General Manager (Cane) 11 Mr. P. K. Salar General Manager (Cane) 12 Mr. N. C. Sharma General Manager (Process) 13 Mr. Balendu Sharma General Manager (IT)
PRODUCTION UNITS
DN –Dwarikesh Nagar, Tehsil – Nagina, District
Bijnor, Uttar Pradesh, India
DP –Dwarikesh Puram, Tehsil – Dhampur, District
Bijnor, Uttar Pradesh, India
DD –Dwarikesh Dham, Tehsil – Faridpur, District
Bareilly, Uttar Pradesh, India
METRICS OF PLANT CAPACITY
Division (Plant Capacity)
Sugar (TCD)
Co-gem (MW)
Supply to state grid (MW)
DN DP DD Total
6500
17
8
7500
33
24
7500
36
24
21500
86
56
Distillery (KLPD) 30 - - 30
INFRASTRUCTURE – SUGAR PLANT
DN
Total Land Availability (acres) 86
DP
58
DD
72
Command Area of Cane (Hect.) 24,304 23,374 25,054
Total Sugar Storage Capacity (Lacs Quintal)
7.5 5 6
Total Molasses Storage Capacity (Lacs Quintal)
1.60 1.00 2.00
INFRASTRUCTURE – DISTILLERY PLANT
At DN
Total Molasses Storage Capacity 58,143 Quintals
Total Rectified Spirit Storage Capacity 11,15,150 Bulk Litres
Total Ethanol Storage Capacity 11,15,150 Bulk Litres
FINANCIAL RESULTS F.Y.E 30th SEPTEMBER
(Rs. Million)
Year Ended
On
2003
2004
2005
2006
2007
2008
2009
2010
2011
1178
1303
1679
2401
3145
3643
3930
Gross Income PAT
Operating Book Value
Per Share Profit (PBDIT)(Rs.)
EPS (Rs.)
Net Worth
20.6
97.6
266.0
208.4
(62.8)
(247.8)
250.8
(90.6)
(131.6)
153.4
225.9
466.7
456.2
189.0
495.7
1259.8
650.0
748.8
40.23
50.10
70.24
97.89
89.93
75.21
87.28
81.73
73.66
365.20
389.80
1.75
12.13
23.17
13.90
(4.20)
(15.31)
14.20
(6.50)
(9.02)
893.50
1534.50
1572.70
1393.90
1584.90
1494.30
1362.74
6405
5989
2012 (113) 961 66.73 (7.88) 1349.60 8275
TRACK RECORD OF EQUITY DIVIDEND
YEAR
00-01
01-02
02-03
03-04
04-05
05-06
06-07
07-08
08-09
09-10 10-11
Dividend (%)
15%
5%
5%
20%
60%
60%
- - 15%
- -
11-12 -
Growth Trajectory – Cane Crushed
Growth Trajectory – Sugar Production
Recovery Achieved at DSIL
The Sugar Season 2011-12
Cane Crushed at all 3 units - 24260411 qtls
Total Sugar Produced – 2381080 qtls
Sugar Recovery % cane – 9.81%
Share Capital Structure
Till April 2001 April 2001
August 2001
89.20 lacs Equity Share of Rs. 10 each. Total Share capital Rs. 8.92 crores Issued Bonus share in the ratio of 13:100. Share capital of the company increased to Rs. 10.08 crores
Buy back of 25.20 lacs shares @ Rs. 40/- per share. Total share capital reduced to Rs. 7.56 crores
IPO of 50 Lacs equity shares @ Rs. 65/- per share including Rs.55/- share towards share premium. Total share capital increased to Rs. 12.56 crores
GDR issue of 30 lacs equity share @USD 4 per share. Total share capital increased to Rs. 15.56 crores
November 2004
December 2005
July 200715 lac share warrants convertible into equal number of equity shares were allotted to promoters. The warrants are convertible into equity shares at the option of warrants holder at any time after 31-01-08 but before the expiry of 18 months from date of allotment.
Out of the above 7.5 Lacs warrants have been converted into equal number of equity shares.February 2008
March 2010 Authorized capital was increased to Rs. 44 Crores
Share Holding Pattern(As on 30-09-2012)
Category
Total No. of shares held
%
Promoters & Promoter Group 7866077 48.21%
Public Sharing 8448599 51.79%
S W O T Analysis
Strengths - Most modern plants and equipment - Well planned infrastructure - Abundant and Assured plan of
Sugarcane - Power Supply to state grid - Lowest Process Losses - Highly skilled and motivated workforce - Self sufficient in power and water
Opportunities
- Machinery that can be upgraded for higher capacities
- Opportunity to get into value added business
- Opportunity to set up bagasse based paper plant
Weaknesses - Cyclical Industry - Highly regulated Industry -Virtually No control over Raw Material
Price - Lackadaisical attitude of government in providing infrastructure such as roads etc
Threats
- Import of Sugar - Frequent changes in Government
Policies
A Major Cost Driver - Sugarcane
Operating RatiosIn %
Particulars 05-06 06-07
80.89
07-08
71.61
08-09
52.16
09-10
79.21
10-11
75.26 Manufacturing and operating expense/ Total Income
Excise Duty / Total Income
Staff Expenses / Total Income
Selling and Admin Expenses/ Total Income
PBIDT / Total Income
PBIT / Total Income
PBT / Total Income
PAT / Total Income
67.02
5.64
5.02
3.19
5.43
5.08
2.49
5.82
6.62
2.26
5.79
7.27
2.64
3.47
5.02
2.10
3.91
5.92
2.41
19.00
13.91
11.21
8.68
6.01
1.78
(4.09)
(2.00)
13.61
5.53
(8.05)
(6.80)
32.06
23.67
10.15
5.14
(2.09)
(1.41)
12.50
7.04
(2.94)
(2.20)
7.99
6.38
11-12
77.09%
3.30%
4.60%
3.40%
7.64%
7.64%
-1.89%
-1.37%
Sugar Industry - Outlook
Indian Sugar Industry is subject to cyclical forcesTypical Cycle
Estimated Production would be 26 millions tons
Higher cane price has led to higher cane growing and that in turn resulted into bumper production
Levy obligation has been restored at 10% as against 20%.
Domestic prices have firmed up on account of export of excess output, inadequate rainfall, higher cane prices
Sugar prices are expected to remain strong going forward
Outlook for DSIL
Sugarcane crushing up by 2.33%Production of sugar down by 4.11%Recovery of sugar down by 1.74%Satisfactory utilization of co generation capacity
The process losses at DN and DP are one of the lowest in the sugar
industries of Uttar Pradesh.
THANK YOU
2011-2012 Dwarikesh Sugar Industries Limited