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					CORPORATE PRESENTATION




                         August, 2010
Disclaimer

  Corporate Presentation (the “Presentation”) of Hindusthan National Glass & Industries Limited (HNGIL), as contained in this document,
  is based on management estimates and is being provided to you (herein referred to as the “Recipient”) only for information purposes.
  The sole purpose of this Presentation is to provide preliminary information on the business activities of the Company, in order to assist
  the recipient in understanding the Company. This Presentation does not purport to be all inclusive or necessarily include all information
  that a prospective investor may desire in evaluating the Company. The Company expressly disclaims any and all liability for any errors
  and/or omissions, representations or warranties, expressed or implied, as contained in this document.

  This Presentation contains certain forward looking statements, which are based on certain assumptions of future events over which the
  Company exercises no control. Hence this involves number of risks and uncertainties which could cause the actual results to differ
  materially from those that may be projected or implied by these forward looking statements. Such risks and uncertainties include, but
  are not limited to: Company’s ability to manage growth, competition, attracting and retaining skilled professionals, time and cost
  overruns, regulatory approvals, market risks, domestic and international economic conditions, changes in laws governing the Company
  including the tax regimes and exchange control regulations.

  The Company does not undertake to update any forward looking statements that may be made from time to time by or on behalf of the
  Company. This Presentation may not be photocopied, reproduced or distributed to others at any time without prior consent of the
  Company. Upon request, the Recipient will promptly return all material received from the Company without retaining any copies thereof.

  In furnishing this Presentation, the Company does not take any obligation to provide the Recipient with access to any additional
  information on the Company or its Subsidiaries. This Presentation should not be deemed an indication of the state of affairs of the
  Company nor shall it constitute an indication that there has been no change in the business or state of affairs of the Company since the
  date of publication of this Presentation.

  Any clarifications / queries, as well as any future communication, regarding the Company should be addressed to the Company. “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 or subscribe, any shares of the Company and should not be considered or construed in any manner
  whatsoever as a recommendation that any person should subscribe for or purchase any of the Company’s shares.”




                                                              2
Table of Contents



   Introduction of the Company

   Industry Snapshot

   Business Overview

   Float Glass Business

   Business Strategy and Expansion Plans

   Financial Snapshot




                                  3
Introduction of the Company
Overview
                     Growth in respective Economies
                                                                                      Industry leader – market
                                                                                       share - 54%

                                                                                      Diversified customer
                                                                                       base across all market
                                                                                       segments

                                                                                      Pan-India presence

                                                                                      Successful turn around
                                                                                       of loss making
                                                                                       acquisitions

                                                                                      Strong focus on value
                                                                                       creation through
                                                                                       strategic initiatives

                                                                                      Robust start in high
                                                                                       growth oriented Float
                                                                                       Glass business

                                                                                      Professionally run
                                                                                       organization with
          Decline   Low growth   Medium growth       High growth   Not illustrated     competent management

   HNGIL: Unique and only of its kind in high growth Indian market
                                                 5
Vision


  “To create a world-class glass

  manufacturing plant that pursues

  Quality, Cost Reduction, and

  Productivity Improvement measures in

  a truly holistic manner, leading to

  Customers‟, Shareholders‟,

  Employees‟ and Suppliers‟

  Satisfaction; this integrated effort will

  result in the Company becoming an

  Industry Benchmark and a role model

  for systems, processes and results”



                                              6
Corporate history – Key events




                                                                             2007
                                                                             Project
                                                                             commencem-
                                                                             ent of Float     2009
                                                                             Glass plant in   Rated as the
 1952                           2002                                         Halol            best Indian
 Company                        Acquisition of                  2006         - Acquisition    company in
 laid the         2001          plants at        2005           Merger of    of the           the Glass &
 foundation       Expansion of Rishikesh,        Acquisition of Associate,   Neemrana         Ceramics
 stone for its    capacity upto Puducherry       the Glass      Ace Glass    unit of          category by
 first plant at   1,100 tonnes and Pune          Division of    Containers   Haryana          Dun &
 Rishra           per day       from Owens       L&T at Nashik Ltd.          Sheet Glass      Bradstreet




                                                 7
Corporate structure


                                                                                Listed company
                                                      Hindusthan National
                                                     Glass & Industries Ltd     - Consolidated net revenues: 13,834 m
                                                                                - Standalone net revenues:   13,599 m




                      100%                                       100%                                 47.4%1
        Glass Equipment                                                                HNG Float Glass Ltd
                                                      Quality Minerals Ltd
           (India) Ltd.                                                                    (HNGFL)
    Provides sophisticated                           Supplies Feldspar powder          Manufactures different
    equipments for glass                                                              varieties of Float Glass
                                                     Net revenues : 29 m
    plants, manufactures
                                                                                      Net revenues : 275 m
    critical spares and provides
    solutions on setting up
    glass plants on a turnkey
    basis
    Net revenues : 366 m

     Note:
     1   HNGFL is proposed to be made a Subsidiary
     2 All figures of revenues are of FY 2010
     3 All Values are in INR million



                                                            8
Organization

                                       HNGIL Board
                                                                HNGIL Board of Directors
                                                                   Chandra Kumar Somany      Ratna Kumar Daga
                                                                   Sanjay Somany             Shree Kumar Bangur
                                 Chandra Kumar Somany,             Mukul Somany              Dipankar Chatterji
                                       Chairman
                                                                   Kishore Bhimani           Indrajit Kumar Saha
                                                                   Sujit Bhattacharya        Ram Raj Soni



                        Sanjay Somany,            Mukul Somany, Joint
                       Managing Director           Managing Director




 HR & Admin      Purchase        Production           Finance              Commercial           Marketing




   Professionally managed organization with clear delegation of responsibilities and
   authority

                                              9
Shareholding pattern


                                                               % Shareholding
   Particulars
                                                              (as on July, 2010)

   Promoters                                                              69.98

   Public Shareholding

    Insurance Companies                                           0.37

    Bodies Corporate                                              3.14

    Financial Institutional Investors                             7.27

    Individuals & Others*                                      19.24     30.02
    Total                                                                100%

 * Includes 16.76% held as Treasury Shares in the Company
  Note: Total shares 87.4 million of face value (INR. 2), fully
  paid up




                                                         10
Overview of HNGIL

 • Current capacity of 2,825 tpd
       ◊ Expanding to ≈ 3,595 tpd over the next 2 years
 • Produces more than ≈15 m bottles per day ranging from 5 ml to 3200 ml
 • Listed on National Stock Exchange, Bombay Stock Exchange and Calcutta Stock Exchange
      ◊ Market-cap of INR. 21.83 bn [ Date : Close of 04/08/2010 ]

                                                                                              Sales CAGR:    ≈ 25%
                                            Successfully combated the
     Standalone operations                    impact of recession and                     PBITDA CAGR: ≈ 39%
                                        increase in global crude prices
      30,000                                                                              23.3%             25%
                                             21.0%
                                                                13,110                 13,599
      25,000                                                                                                20%
                       16.8%
      20,000                              10,212
                                                                     18.0%
                                                                                                            15%
      15,000        7,016
                                                                                                            10%
      10,000
                                                                                                3,163
                                                  2,147                  2,359                              5%
       5,000                1,175

          -                                                                                                 0%
                      FY2007                FY2008                   FY2009              FY2010
                            Net Revenue (INR m)      PBITDA (INR m)           PBITDA margin


                                                    11
Pan – India presence


• Manufacturing locations in all four regions

  in the Country

• Pan-India presence helps in

     ◊ Lowering overall landed cost to                         Delhi




         customers        and       ensuring
                                                                                             Kolkata
         uninterrupted supplies

     ◊ Comprehensive coverage of the

         key customers across India
                                                     Mumbai
                                                                          Hyderabad


                                                                             Naidupeta

                                                              Bengaluru




                                                                                         Plant Locations
                                                               Chennai

                                                                                         Marketing Office
                                                                                         Upcoming Greenfield Mega
                                                                                         Project

                                                12
Inorganic growth

     January 2002

         ◊ Acquired Owens Brockway India Ltd, a 100% indirect
           subsidiary of Owens Illinois, USA

         ◊ Capacity acquired: 700 tpd (plants at Puducherry and
           Rishikesh)

         ◊ Closed the 3rd plant of the Company at Pune, since
           commercially not viable

     October 2005

         ◊ Acquired loss making unit of Larsen & Toubro

         ◊ Capacity acquired: 350 tpd (plant at Nashik)

     October 2007
         – Acquired the assets of Haryana Sheet Glass‟ unit in
           Rajasthan
         – Capacity acquired: 180 tpd (plant at Neemrana)


  Successful turnaround of loss making businesses – demonstrates strong
  management capabilities
                                               13
HNGIL’s Rating & Ranking

 Business Standard Ranking (Out of 1000 top listed Corporates, as of Feb ‟10)
  ◊ In terms of Revenue – 299th
  ◊ On Operating Profit Quantum – 265th
  ◊ On Net Profit Quantum – 253rd

 Rating by CARE (Credit Analysis & Research Ltd. )
  ◊ Long term credit rating of the Company is AA (implying high safety for timely servicing of debt
    obligations and carrying very low credit risk).
  ◊ For Short Term, it is PR1(+) (implying the lowest credit risk). Both ratings are from CARE


 CRISIL Equity Rating ( As of May ‟10)
  ◊ On „Fundamental‟ side 4/5 meaning „Superior Fundamentals‟
  ◊ On „Valuation‟ Side 5/5 meaning „Strong upside‟


 Rated as the best Indian Company in the Glass & Ceramics category by Dun & Bradstreet in
  year 2009

 Certifications : Accredited with ISO 9001:2008 certification, ensuring stringent quality standards and
  ISO 22000 for food and safety
                                                 14
Industry Snapshot
Global packaging industry

   As per World Packaging Organization, the global packaging industry at present is estimated to be

    higher than US$ 500 bn in revenues, with ten year historical growth at ≈ 3.1% CAGR

   Projected to grow at ≈ 3.6% CAGR in the next five years mainly driven by growth in emerging

    markets (Asia Pacific region)


                        7.0%
                6.3%




                                            3.4%                                                                        3.6%
                                                      3.2%                                                          3.1%




                                                                        0.7%                  0.5%
                                                                                 0.4%                   0.2%

               Asia Pacific               Latin America                     Europe           North America           Global

                                     10-year historical growth (1999-2009E)             Forecasted growth (2008-2013E)
         Source: Owens-Illinois, Inc. - Investor presentation, March 2010

                                                                   16
Indian macroeconomic overview




      India is the seventh largest Country by geographical area and the second-most
      populous Country in the world. According to IMF estimates, India‟s GDP is
      expected to grow by 9.5% in the current year

                                    17
Indian Glass Packaging Industry

  At US$ 14 bn, Indian packaging industry has been growing at
                                                                           World glass container per capita
    ≈ 15% over the last few years                                                   consumption

        ◊ Expected        to   accelerate   further    with   increasing
             urbanization, growing middle class and expansion of
             modern retail

  Indian glass container market stood at US$ 0.8 bn in FY09
    with a growth of ≈ 12% over FY08

        ◊ High barriers to entry due to capital intensity of
             business

        ◊ Top 3 players are HNGIL, Piramal Glass and
             Associated Glass Industries

  Low per capita glass container consumption of 1.4 kg in India
    as compared to 27.5 kg. in US and 10.2 kg. in Japan

  Strong economic drivers for end-user segments (liquor and
    beer, pharmaceuticals, food, cosmetics, etc.)
  Source: CRISIL report

                                                      18
Liquor

 Size of Indian IMFL market is estimated to be ≈ INR 200
  bn (US$ 4.5 bn) with total sales volumes of 236 m cases

 Industry projected to grow at 10-12% p.a. over next few
  years


Growth Drivers:
 Low per capita consumption in India of 1.8 litres as
  against 8.7 litres in Europe and 8.5 litres in USA
 Increasing disposable incomes
 Youth and middle aged population expected to increase        With increasing state intervention
  from ≈ 48% of population (2001) to 54% in 2011               for prohibition of use of old glass
                                                               bottles owing to health & hygiene
     ◊ ≈ 485 m population is at the drinking age and           issues and increasing consumer
                                                               awareness, the liquor industry is
          another 100 m likely to be added over next 5 years
                                                               continuously graduating to use of
 Cultural change – acceptance of social drinking and          only new glass bottles
  growing drinking habits in woman population
 Increasing deregulation by state governments

                                                 19
Beer


 Size of industry in terms of volumes: 191 m cases

 Industry projected to grow at 12-15% p.a. over next few

  years

Growth Drivers:
 Low per capita consumption in India of 1.3 litres,
  compared to global average of 24 litres
 Increase in disposable income
 Average age of beer drinkers in India is higher compared
  to global standards, signifying potential for new class of   Given the growth of beer industry in
                                                               India, there is large potential for the
  younger beer drinkers                                        new glass bottles
 Increasing exposure to beer, mainly due to consumer
  mobility
 Rising popularity of beer among urban working women



                                                20
Food

                                                                                   Figures in MT – HNGIL
                                                                                       Glass bottles
 As per Government of India‟s Vision Plan 2015, the food processing
  industry is expected to more than double in size from the current
  US$ 70 bn to ≈ US$ 150 bn in 2025                                          CAGR: ≈15%




Growth Drivers:
 Increase in disposable income
 Changing lifestyles of urban and rural middle class
 Increasing   health   consciousness    with   shift   from   traditional
  unpackaged formats to packaged, branded goods
 Increasing working women population
 Increase in penetration of glass containers – currently 10-12% of all
  food and beverages are packed in glass containers in India as
  compared to 40-50% in developed markets



                                                  21
Soft Drinks

                                                                             Figures in MT – HNGIL
                                                                                 Glass bottles
 The Indian soft drinks market is estimated to be ≈ US$ 1.8 bn with
  carbonated drinks contributing US$ 1.5 bn and juices US$ 0.3 bn

 Overall industry growing at ≈ 8% p.a. with fruit drinks/ juices      CAGR: ≈ 38%

  category growing at ≈ 25% p.a.


Growth Drivers:

 India‟s consumption amongst one of the lowest in the world at
  5 bottles p.a.

 Increase in disposable income

 Increasing penetration in rural India and faster urbanization

 Introduction of healthier fruity substitutes/ juices and energy
  drinks to tap newer market segments




                                                  22
Pharmaceuticals

                                                                                Figures in MT – HNGIL
                                                                                    Glass bottles
 India's Pharmaceutical Industry is the 3rd largest in the world in

  volume terms and 14th in value terms

 The Indian domestic market is currently ≈ US$ 12.3 bn and is

  growing at CAGR of 12-15% as against a global average of 4-7%

     ◊ Projected to grow to US$ 20 bn by 2015


Growth Drivers:

 Increase in disposable income

 Increased health awareness and propensity / capacity to spend
                                                                           Glass Bottle market has
 Expansion of healthcare facilities in the rural and far-flung areas to   experienced a de-growth of
                                                                           5% CAGR due to penetration of
  further boost demand                                                     PET Bottles

 Increasing penetration of customized insurance plans would drive

  affordability of healthcare services



                                                 23
Business Overview
Summary


  Largest Glass Container manufacturer in India (≈ 54% volumes) with about six decades of
   experience. Present capacity of 2,825 tpd

  Robust financial position
      ◊ During the period of FY07 to FY10, standalone sales grew at a CAGR of 25% while
        PBITDA grew at a CAGR of 39%
      ◊ Enjoys economies of scale owing to size and has best in class PBITDA margins

  Strong manufacturing platform spread across India through six manufacturing units

  Markets container products to several top clients including United Spirits, SAB Miller, HUL,
   Nestle, Glaxo, Heinz, etc.

  Highly experienced and competent management team

  Compliance with Health, Equipment and Safety regulations in India

  Group is very active in Corporate Social Responsibilities




                                               25
Competitive benchmarking

                                                            Sales
                       Market             Capacity          (consolidat
Player                                                                              Other comments
                       Cap (INR)          (tpd)             ed) FY10-
                                                            INR
                                                                                    • Supplies glass bottles to liquor, beer,
HNGIL                  21.83 bn           2,825             13.8 bn                   pharmaceuticals, food and carbonated drinks
                                                                                      industries
                                                                                    • Produces glass bottles for cosmetics, pharma,
Piramal                                                                               food and beverage for both domestic and
                       10.67 bn           1,115             11.0 bn
Glass                                                                                 international markets
                                                                                    • Key segment: Cosmetics
                                                                                    • Produces amber glass containers for pharma
Vitrum Glass           NA                    130            NA
                                                                                    • Clients include Cipla, GSK, Merck, Pfizer etc.

                                                                                    • Produces glass bottles for liquor, cosmetics,
                                                                                      pharma, food and beverage
Haldyn Glass           0.75 bn               320            1.34 bn
                                                                                    • Clients include United Spirits, Indage, Dabur etc
                                                                                    • Completed expansion project in FY09

                                                                                    • Produces glass bottles for liquor, pharma, food
Hindusthan                                                                            and beverage
                       6.93 bn               950            8.06* bn
Sanitaryware                                                                        • Acquisition of Associated Glass in 1981
                                                                                    • Clients include Coke, Pepsi, GSK, Pfizer,HUL etc.
• *Total revenues of the company ( includes revenues from sanitary-ware business)


                                                                         26
Volume Mix (FY 2010)



                  End user segment                     Geography
                              1



                                          North, 42%

                                                                    East, 20%




                                                                   South, 22%
                                             West, 16%



     1 Others includes soft drinks




                                     27
Customers – Some names

Liquor




Beer



 Food



 Carbonated drinks
 (Soft drinks)


Pharmaceuticals




                     28
HNG’s Share of Top 10 Customer


           HNG's Share in the Total Requirement of Top 10
                     Customer in 2009-10 (%)
                                                 95
     100
      90                         80                   80
      80                                    70
                  65
      70     60             60
                       55
      60                                                    50
      50                               40
      40
      30
      20
      10
       0




                                  29
Manufacturing Facilities
Plant details: Rishra (West Bengal)



                            Description

       Year of start of
                            1952 (Area: 38.3 acres)
       operation
       Installed capacity   805 tpd
                                                                 Rishra
       Production in FY10   207,748 MT

       Furnaces             3 (13 manufacturing lines)
                            • On-site bottle printing facility
       Other comments       • Amber, flint and green glass
                              manufacturer




                                                30
Manufacturing Facilities (contd.)
Plant details: Bahadurgarh (Haryana)



                           Description

      Year of start of
                           1964 (Area: 57.9 acres)              Bahadurgarh
      operation
      Installed capacity   655 tpd

      Production in FY10   180,831 MT

      Furnaces             3 (15 manufacturing lines)
                           • On-site bottle printing facility
                             with four decorating lines
                           • Amber and flint glass
      Other comments         manufacturer
                           • Foundry and mould workshop
                           • Energy feed through captive
                             power generating facilities




                                              31
Manufacturing Facilities (contd.)
Plant details: Rishikesh (Uttarakhand)



                             Description

       Year of acquisition   2002 (Area: 14.3 acres)             Rishikesh

       Installed capacity    425 tpd

       Production in FY10    116,054 MT
                             2 (1 furnace used for Green glass
       Furnaces              manufacture; 6 manufacturing
                             lines )
                             • On-site printing facility with
       Other comments          three decorating lines
                             • Green, flint and Georgia green




                                              32
Manufacturing Facilities (contd.)
Plant details: Puducherry (Union territory)



                             Description

       Year of acquisition   2002 (Area: 46.5 acres)

       Installed capacity    370 tpd

       Production in FY10    114,745 MT

       Furnace               1 (4 manufacturing lines)
                             • On-site printing facility with three   Puducherry
                               decoration lines
       Other comments
                             • Sand beneficiation plant, foundry
                               and mould workshop




                                                33
Manufacturing Facilities (contd.)
Plant details: Nashik (Maharashtra)



                            Description

      Year of acquisition   2005 (Area: 70.3 acres)

      Installed capacity    390 tpd

      Production in FY10    109,127 MT                           Nashik

      Furnace               1 (4 manufacturing lines)
                            • On-site bottle printing facility
      Other comments          with three decorating lines
                            • Flint glass




                                                34
Manufacturing Facilities (contd.)
Plant details: Neemrana (Rajasthan)



                            Description

      Year of acquisition   2007 (Area: 12.3 acres)
                                                             Neemrana
      Installed capacity    180 tpd

      Production in FY10    56,795 MT

      Furnace               1 (3 manufacturing lines)
                            • Manufactures flint and amber
      Other comments
                              glass




                                              35
Technology Suppliers

 Technology sourced from Global majors helps boost operational efficiencies and product quality :



    Batch-houses from Zippe (Germany)


    Furnaces from Sorg and Horn (Germany)


    Forehearths from Emhart (USA) and PSR (the UK)


    IS machine control system from Botterro (Italy) and Futronics (Germany)


    Bottle handling equipment from Sheppee (the UK) and Heye International (Germany)


    Bottle printing equipment from Strutz (USA) and Rosario (The Netherlands)


    Bottle inspection machines from SGCC–MSE (France), Heye International (Germany) and IRIS
     (France)




                                               36
Supply chain
  Procurement

   Company has both sourcing and service contracts with various global parties across several
    countries

   Strong procurement and supply chain systems in place with diversified supplier base for each raw
    material to reduce any business risks on account of non-supply

   Key raw materials include: silica, limestone, dolomite, feldspar, soda ash and cullet
    ◊ Silica and soda ash account for about 60% of the total raw material cost. The Company procures
      raw materials domestically except soda-ash (Partly procured globally). Large volumes give the
      Company good pricing advantage

  Marketing and Distribution

   Presence of multiple manufacturing locations across India helps company enjoy strategic advantage
    compared to its peers in an industry where commercial pricing is generally ex-factory

   Company has lower lead time to delivery and overall lower cost

   Strategic acquisitions helped Company increase its geographic footprint and customer penetration

   Six marketing offices spread across India

   In-house fleet of 100 trucks through which company supplies to its customers

   ≈ 10% of volumes supplied are through agents (number of agents : 118)

                                                37
Environment, Health and Safety

   Compliance with all EHS (Environment, Health and Safety) related legislations

   Emission standards maintained within norms

   Focus on zero discharge and recirculation of water

   Company has registered CDM project. Some more in the process

   Qualified safety professionals at each plant

   Periodical risk assessments and safety audits

   Emergency management plan




                                         38
Corporate Social Responsibility

  Group has been very active in CSR and some of the programs embarked upon are:

   Provision of street lighting and maintenance of a children‟s park in the colony (Tulsi Vihar) adjacent
    to the plant at Rishikesh

   Sunetra Eye Clinic
    ◊ The Group started an eye check-up centre for underprivileged citizens in collaboration with
      Calcutta Eye Research Foundation

   Has a school at Bahadurgarh (Bal Bharti) that caters to the education requirements of most of the
    children in the vicinity. 1,700 students registered under CBSE curriculum

   Conducts training program for underprivileged girls

   Conducts a free medical camp (eye and oral check-up)

   Planting of trees

   Maintains a park – Maharana Pratap Square in Kolkata

   Company participates in several flower shows in the Country



                                                39
Float Glass Business
Summary

   Strategic move by Company to venture into high growth oriented Float Glass industry through
    Associate - HNG Float Glass Limited (≈ 47% shareholding)
          ◊ Proposed to be made a subsidiary

   Indian Float Glass industry has been growing at ≈ 12% CAGR over the last three years
          ◊ Growth drivers
               ◊ Low per capita consumption of Float Glass in India of 0.8 kg as compared to 8 kg in
                 China and 10.4 kg in USA
               ◊ Growth in real estate and automobile sector in India

   Greenfield expansion in the float glass business by setting up a plant at Halol, Gujarat
          ◊ Manufactures glass to meet the needs of Construction and Auto sectors
          ◊ Well positioned to capitalize on the high growth potential
          ◊ Capacity: 600 tpd set up at a capex of INR 6 bn
          ◊ Commenced production in Feb ‟10.
          ◊ Fully positioned to break-even in the very first full year of operation – expected to generate
            small profit in FY 2011

   Robust start in high growth oriented business

                                               41
Market overview


   Nascent industry in India with a per capita consumption of 0.8 kg as against China (8 kg), ASEAN
    (8.4 – 11 kg), Europe (12.5 kg) and USA (10.4 kg)
           ◊ India has eight float glass lines compared with 196 in China

   India‟s total installed capacity for float glass is estimated to be ≈ 4,700 tpd

   In FY10, imports were estimated at 0.1 m MT, largely from China and Indonesia.
           ◊ To support indigenous manufacture, the Government imposed an anti-dumping duty of
             US$ 130 per ton

   Growth drivers
           ◊ Growth in real estate driven by
               ◊ Growth in the services sector - telecom, financial services, IT & ITeS etc
               ◊ Boom in retail marketing through shopping malls
               ◊ Increasing demand for affordable housing and high rate of urbanization
           ◊ Growth in automobile sector mainly driven by growth in passenger car segment




                                                 42
Overview of HNG Float Glass Ltd

   Overview
    ◊ Commenced production in a record time of 21 months
    ◊ Plant achieved global production efficiency benchmarks within a short span of 5 months
    ◊ Competitors include Saint Gobain, Asahi, Gujarat Guardian, Gold Plus, Sejal, etc.

   Certifications - European standards and ASPM (U.S. standards) and ISO 9001:2000

   Procurement of raw material
    ◊ Diversified supplier base for each raw material to reduce any business risk on account of non-
      supply
    ◊ ≈ 18% of raw material is sourced within 100-150 km and ≈ 20% of the production is sold within
      500 km

   Product has been well received in the market and the Company has been increasing presence with
    a distribution network of 758 agents spread across India

   Growth plans
    ◊ Capacity expansion by 900 tpd
    ◊ Also planning a wider range to meet the market demand for value added products.


                                            43
Competitive benchmarking


                                       Dealer network in diff geographical regions in India
                      Installed
 Player
                    capacity (tpd)
                                     North        East         West        South         Total

 HNGFL                   600          161            44         320           223             758

 Saint Gobain           1400          195            75         210           279             759

 Asahi                  1200           112           40           90          177             419

 Gujarat Guardian        550           93            30         160           171             454

 Gold Plus               460           68            10           48           20             146

 Sejal                   550           54            11           80           81             226




                                             44
Business Strategy and Expansion
              Plans
Critical Success Factors

 Size and Strength of the Balance Sheet:                        HNGIL’s Position
  ◊ Provides flexibility and power to negotiate with suppliers   ◊ Market share of 54%
    and customers                                                ◊ Low debt/equity of 0.5x
  ◊ Enables the Company to build capacity and pursue             ◊ Strong credit rating of AA (Long term)
    expansion plans

 Cost management and optimal utilization of resources
  (manufacturing assets)                                         ◊ Diversified set of supplier base
  ◊ Ability to manage costs and being suitably placed to         ◊ Strong focus on margin management
    pass on to the customer the increase in cost, if any         ◊ Backward integration to reduce costs
  ◊ Ability to sweat the assets to the maximum extent for        ◊ High utilization of furnace capacities
    delivering better operational results

 Strong technological capabilities
  ◊ Ability to innovate and provide customers with improved      ◊ Introduction of NNPB technology
    bottles, which provides the Company competitive              ◊ Technology tie up with global majors
    advantage in the market                                        including JV with OMCO, Belgium

 Well diversified spread across verticals and segments
                                                                 ◊ Presence across key user industries –
  ◊ Presence across whole primary end user industries and          liquor, beer, pharmaceuticals and food
    customer segments
                                                                 ◊ Plan entry into cosmetics segment


                                                   46
Strategic initiatives

     Emerge as a value driven manufacturer through increasing production of light weighted bottles
      thus enhancing margins
            ◊ PBITDA margin for standalone operations improved from ≈ 17% in FY2007 to ≈ 23% in
              FY2010

     Setting up of a large Glass Manufacturing complex in South India

     Implemented high quality information systems (Business Intelligence modules and Performance
      Management Systems) to closely monitor and improve key operating metrics

     Leverage capabilities of acquiring and turning around underperforming global assets by
      replicating the model already successfully achieved in India

     Higher complimentary cost advantages in sourcing higher volumes of IS machines and spares
      from GEIL, 100% subsidiary

     Reinvest in fresh capacity to continue to take advantage of significant end user industry growth
            ◊ Increase capacity of container glass by 770 tpd in next two years

     Acquired four units in last eight years to enhance competitive edge by increasing geographic
      presence and acquisition of new customers

     Leveraged existing relationships with customers and service their growing needs in other
      countries with supplies being made out of facilities in India

                                               47
Strategic initiatives (contd.)

     Brought modern management practices into play to enhance production, reduce cost and
      strengthen overall efficiency (introduced NNPB technology in 2008)

     Emerge as a leading player in the Float Glass container business in India
            ◊ Current market share of 15% and projected to grow further
            ◊ Further capacity of ≈ 900 tpd planned to be added to existing capacity of 600 tpd

     Captive mining for silica procurement for Rishra plant (West Bengal) and Float Glass plant
      (owned by HNGFL)

     Technology sourced from Global majors that helps achieve better operational efficiencies and
      product Quality

     Implementation of information systems to closely monitor and improve key operating metrics




                                              48
Expansion plans


                      Capacity
                                     Investment     Other comments
                    addition (tpd)
   Greenfield in                                    • Land has already been allotted
   Andhra                650         INR 5.0 bn     • Project commenced from July‟10
   Pradesh                                          • Targeted project completion date is Mar‟12
   Maintenance
                         120         INR 3.0 bn     • Maintenance at Rishra and Rishikesh
   capex

   HNGFL                 900         INR 6.0 bn     • Increase in float glass production capacity




  Other expansion plans include

   Acquisitions (domestic and international) in the Glass Container
    space and would be guided by the “ value buy” proposition, as in the
    past

   JV with OMCO, Belgium for Moulds/ Moulds Accessories



                                              49
Enhancing margins
  Shift to natural gas in manufacturing process, by replacing Furnace Oil and LPG across all 6 plants.

                   Bahadurgarh                         Already in place
                   Neemrana                            Expected by end August, 2010
                   Nashik                              Expected by March, 2011
                   Rishikesh, Puducherry , Rishra      Latest by June, 2013

  Designing and mould manufacturing facility in the Company, with own Foundry

  Proposed JV with OMCO, Belgium to provide further cost advantage in Moulds & Mould accessories

  Economies of scale in procurement of Raw Materials/ Consumables

  Competitive advantage in sales – quantity and pricing

  Introduced NNPB for the first time in India thus reducing bottle weight and producing more bottles,
   boosting margins

  Sand Mining – Bankura, Sand beneficiation plant for Rishra unit
      ◊ Currently exploring opportunities for other plants as well. Assurance of long term supplies,
        economy and better quality

  Increase in transportation fleet – ensuring both economy and in-time delivery
                                                50
Financial Snapshot
Consolidated P&L

                                                                                                                                All values in INR million

   Particulars                                                                FY08                              FY09                             FY10

   Net Revenue                                                              10,291                             13,305                            13,834

   Net Revenue growth                                                       46.7%                               29.3%                              4.0%

   PBITDA                                                                     2,165                              2,388                             3,192

   PBITDA Margin                                                            21.0%                              18.0%1                            23.1%

   PBIT                                                                       1,455                              1,634                             2,323

   PBIT Margin                                                              14.1%                               12.3%                            16.8%

   PAT2                                                                       1,205                              1,081                             1,541

   PAT Margin                                                                11.7%                               8.1%1                            11.1%
   Note:
   1 Due to high global crude prices, overall recession in global economy and some losses in financial derivative transaction
   2 PAT does not include adjustments for share in associate company



   Company‟s net revenues grew at ≈ 16% CAGR over the period of FY08-FY10 while
   PBITDA grew at ≈ 21% CAGR during this period

                                                                    52
Realisations, volumes and revenues (standalone)



     900,000                                         40,000   30,000                                   30%

                           17,126     17,377                                                     23%   25%
                                                              24,000    21%
     675,000    14,677                               30,000
                                                                                  18%                  20%
                                                              18,000
     450,000                                         20,000                                            15%
                          765,478     782,585                                              13,599
               695,820                                        12,000             13,110
                                                                       10,212                          10%
     225,000                                         10,000
                                                               6,000
                                                                                                       5%

         -                                           -           -                                     0%
               FY 2008    FY 2009     FY 2010                          FY 2008   FY 2009   FY 2010

         Sales Quantity in MT (LHS)                                    Sales in INR m (LHS)
         Average Realisation in INR/MT (RHS)                           PBITDA margin (%) (RHS)




                                                53
Realisations by products (standalone)

                                Net Realizations (INR/MT)              CAGR
 Segment
                            FY2008          FY2009          FY2010   (2008-10)

 Food                        14,655          17,730         18,377    12.0%

 Soft Drinks                 15,873          18,107         20,132    12.6%

 Beer                        12,242          15,433         16,066    14.6%

 Liquor                      13,852          16,658         16,503     9.2%

 Pharmaceuticals             16,505          19,117         19,726     9.3%

 Toiletries                  15,593          18,787         18,560     9.1%

 Vials                       25,643          29,404         29,246     6.8%

 Household                   20,077          21,445         22,363     5.5%

 Total                       14,677          17,127         17,377     8.8%




 Realisations have further increased by approximately 6-7% w.e.f. 1 August 2010

                                      54
Consolidated Balance Sheet

                                                                        All values in INR million

   Particulars                               FY08              FY09                     FY10

   Net Fixed Assets                           8,979             9,904                   11,380
   Investments                                1,139             1,021                    1,446
   Net Working Capital                        3,074             4,087                     4085
   Total Assets                              13,192            15,012                   16,911


   Shareholders equity                        8,799             9,490                  10,545
   Secured Loans                              2,896             4,180                    5,495
   Unsecured Loans                            1,313               921                       171
   Deferred tax liabilities                    184                421                       700
   Total liabilities and equity              13,192            15,012                   16,911
   Long term debt/ equity                      0.17              0.35                      0.36
   Total debt/ equity (x)                       0.5               0.5                        0.5


   Operating in a capital intensive industry, the Company has been able to maintain a
   total debt/ equity ratio of 0.5x
                                        55
Hindusthan National Glass & Industries Ltd. (HNGIL)




                             THANK
                                                YOU
                            For any queries/to obtain more info, please
                            write at investor.relations@hngil.com
Annexure
Management team

       Jagdish Prasad Kasera, Senior President

          Over 40 years of experience. Joined Company in Jan-98. Responsible for operations and M&A

          Worked with several prominent groups - Williamson Magor, Usha Martin, Aditya Birla and Ispat

          Fellow member of the Institute of Chartered Accountants of India and the Institute of Company Secretaries of
           India. Also a Qualified Cost Accountant.

       Ratan Lal Khandelia, President
          Over 34 years of experience. Joined Company in Mar-99
          Currently looking after Bahadurgarh, Rishikesh and Neemrana Plant

          Worked with various companies, including MP Birla Group and Ferro Alloys Group. Qualified Chartered
           Accountant from the Institute of Chartered Accountants of India

       Vinay Saran, Senior Vice President - Marketing
          Over 22 years of experience in the field of consumer products and consumer durable marketing. Joined Company
           in 2007
          Key member of the governing body of the Indian Institute of Packaging, Mumbai, All India Management
           Association, Kolkata, Management Association, National HRD Network and the Indian Institute of Packaging,
           Kolkata

       Laxmi Narayan Mandhana, Chief Financial Officer
          Qualified Chartered Accountant and Company Secretary
          Over 20 years of experience in in finance - comprising capital issues, mergers, acquisitions, banking, project activities,
           business evaluations and monitoring. Is associated with the Group for about seven years
          Member of the Finance Committee of the Confederation of Indian Industry, Eastern Region
          Expert in corporate finance, taxation and accounts

                                                     58
Management team

       Animesh Banerjee, Senior Vice President
          Over 23 years of experience in polymers, pharmaceuticals, chemicals, fine chemicals, petrochemicals, dyes and
           intermediates, paints and varnishes, food processing and FMCG
          Worked with companies like Shaw Wallace, IPCCL, Mafatlal Industries Ltd., TATA Kansai, Berger Paints
          Currently looking after Rishra, Nashik and Puducherry Plant
          Post graduate from IIT Kharagpur and MBA from IIM, Kolkata

       Amar Chand Jain, Vice President – Tech Centre
          Over 47 years in all areas of Container Glass Production. He joined the Company in 1963
          Currently is a leading member of the Group Technical Centre, responsible for Research, Development,
           Technological Absorption, Innovations, Acquisitions and New Projects
          He is a science graduate

       Ram Surat Prasad Gupta, Vice President
          Over 35 years of experience in various industries - electrical (lighting division Philips), mechanical (HNG & Ind.),
           electronics (Binatone Electronics), process industries (Sheela Foam)
          He studied engineering (mechanical) and did his post graduation in management
          Associated with Quality Certifications

       Chandra Singh. K Mehta, Plant Head – Nashik
          He started his career with M/s Hindusthan Development Corporation Limited and worked with M/s Shakti
           Insulated Ltd before joining HNGIL
          He has served 21 years in the career



                                                    59
Management team

       Jalaj Kumar Malpani, Vice President - Commercial

          He handles corporate MIS, annual business plan and quarterly performance reviews

          Recipient of Jawahar Award for meritorious performance in the area of cost reduction and cost control

          Worked with SAIL for 15 years at Bokaro Steel Plant and CMO, Kolkata, and ICI India Ltd for one year. Worked
           closely with Mckinsey & Co in the area of inventory management and debt

       Kulur Satish Shetty, Plant Head, Puducherry
          Over 28 years of experience, with over 25 years in the field of glass manufacture. He joined the Company in 2006
          He has worked with Bharat Electronics Ltd ,Taloja ,Maharashtra (a public sector company), Videocon Narmada
           Glass, Bharuch ,Gujarat, and Hotline Glass Ltd, Gwalior, Madhya Pradesh
          Holds a bachelor degree in mechanical engineering from a regional engineering college, Surathkal, Karnataka

       Devdutta Hoare, Exports Head
          Over 19 years of experience in in marketing of industrial products in India and abroad. Joined Company in 2007
          Previously worked with Dr. Beck & Co, Atul Limited and Gwalior Chemicals
          He is chemical engineering graduate from Jadavpur University, Kolkata


       Ravindra Kr Sitani, Vice President-Works
          Over 26 years of experience. He joined the Company in 2007
          Previously worked with Grasim Industries Ltd, Kanoria Chemicals & Ind Ltd and Hindusthan Vidyut Prod Ltd
          He has B.E. (Hons) Mechanical and ME (Industrial Production) from BITS, Pilani
          Currently posted at Bahadurgarh Plant

                                                60
Management team

       Bimal Kumar Garodia, Vice President - Finance
              Over 20 years of industry experience. He joined the company in Apr-08
              Previous experience includes Bajaj Eco-tech Limited, a wholly owned subsidiary of Bajaj Hindusthan Ltd
              He is qualified Chartered Accountant, Cost Accountant and a Company Secretary

       Chandra Kumar Tharad (Vice President –Commercial)
              Over 25 years of experience
              Previous experience includes Usha Martin and LNG Bhilwara Group
              Commerce Graduate with Calcutta University. He completed Chartered Accountancy in 1984
       Bishnu Kumar Kedia, AVP - Materials
              Joined Company in 2003
              Previously worked with Khaitan (India) Limited, Agarwal Hardwares Limited and Magma Leasing Limited
              B. Com. (Hons.) from St. Xavier‟s College (Calcutta University) where he scored 49th rank in the University and
               received national scholarship. He is qualified Chartered Accountant

       Kuldeep Kumar Sharma, Plant Head – Neemrana
              Over 31 years of experience in glass industry
              He is B.Sc., M.A. (Eng), M.Ed.. Took training at O.I. (USA) for glass operations and quality management systems,
               HACCP (hazard analysis & critical control points) Course from DNV, IMS (Integrated Management System)

           Shammo Roy Choudhury, AVP – HR
               Has over 25 years of rich experience having worked in renowned multinationals Pfizer, Otis Elevator Co (I) Ltd &
                Flakt India Ltd and engineering company Shriram Bearings Ltd & Stone India Limited
               He is Commerce Graduate from St Xavier‟s with Post Graduate in Industrial Relations & Personnel Management
                from Xavier Institute of Social Service, Ranchi

                                                    61

				
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