Download - Nuvo Corporate Presentation Final
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Aditya Birla Nuvo A Snapshot 3 15
Our businesses :
Financial Services 17
Fashion & Lifestyle 26
Telecom 33
IT-ITeS 36
Manufacturing 38
Annexure 46 51
Contents
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Part of the Aditya Birla Group
A USD 40 billion Corporation by revenue size, the Aditya Birla Group is in league of fortune 500
Operating in 36 countries in 6 continents with over 50% of revenue flowing from overseas operations
Among the largest and the most reputed business houses in India
Flagship listed companies: Aditya Birla Nuvo (Conglomerate), Grasim & Ultratech (VSF & Cement), Hindalco
- Incl. Novelis (Aluminium & Copper), Idea Cellular (Telecom)
Ranked 4 th in global top companies for leaders & 1 st in Asia Pacific (Source: Ao n Hewitt, Fortune Magazine & RBL - 2011)
Anchored by over 136,000 employees belonging to 42 nationalities
Trusted by ~ 1.5 million shareholders and over 100 million customers
In India
Leadership Aluminium, Cement, Carbon Black, VSF, VFY,Position Branded Apparels, Copper, Chlor-alkali,
Insulators (in terms of production / sales)
Top 3 Telecom (in terms of wireless revenue market share)
Top 5 Life Insurance (in terms of new business premium) Asset Management (in terms of average AUM)
Global positioning
Aluminium Worlds largest aluminium rolling unit
VSF Worlds largestmanufacturer
Carbon Black Worlds largest in terms of capacity
Cement 9 th largest manufacturer in the world
Our Values Integrity, Commitment, Passion, Seamlessness, Speed
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Aditya Birla Nuvo : Vision Mission
Kumar Mangalam BirlaChairman
VisionTo be a premium conglomerate building leadership in businesses
and creating value for all the stakeholders
Mission Investing in the promising sectors Building leadership in businesses A platform to drive synergy of resources
Delivering best value to all the stakeholders To be a responsible corporate citizen
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Savings led Consumption led Infrastructure &Agriculture led Outsourcing led
Growth Drivers
High rate of savings Rising income levels High rate ofcapital formation Rising outsourcing trend
Lower penetration offinancial services A large young population
Steady economicreform regime
Highly skilledhuman capital
Growing awarenessfor financial planning Burgeoning middle class
Investor friendly policiesIncreasing FII & FDI flow Low cost destination
Key sectors tobenefit Financial Services
Telecom, Fashion &Lifestyle, Textiles,
Automobiles,
Power, Roads,Agriculture IT-ITeS
ABNL : Well positioned to tap growth opportunities
Aditya Birla Nuvo :
A large eco-system
1995 2013
Revenue 0.2 4.75
Businesses 5De-risking through portfolio of 15
businesses representing varied sectorsof Indian Economy
Brands ~ 6 ~30
Customers < 1 million Touching lives of 125 million Indians
Employees ~ 13,500 Anchored by strong management teams& more than 65,000 employees
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Aditya Birla Nuvo : Transformation from a Mfg. company ..
2000: Foray in Fashion & Lifestyle biz. through acquisition of international brands
2006 : Became largest shareholder in Idea
2005 : Merger of Agri and other Financial Services in ABNL
2001 : Foray in Life Insurance biz. through JV with Sun Life Canada
2013 : Acquisition of Pantaloons
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to a USD 4 75 billion conglomerate
Manufacturing
Rayon *
Agri*
IT-ITeS ^(99.85%)
Fashion &Lifestyle
FinancialServices
Telecom $ #(25.27%)
Asset Management ^(51%) @
Life Insurance ^(74%) @
NBFC ^Private Equity ^Broking (75%) ^
Wealth management ^General Insurance Advisory (50%) ^
Insulators *
Note 1 : Having received the shareholders approval, ABNL is in the process of divesting the Carbon Black business.
Represent Joint VenturesRepresent Subsidiaries @ JV with Sun Life Financial, CanadaRepresent Divisions # Listed, Aditya Birla Group holds 45.88%* ^ $
Leadership position in India
Leader Top 3 Top 5
Carbon Black *
(Refer Note 1)
Pantaloons ^
Madura*
Textiles *
Note 2 : Percentage figures indicated above represent ABNLs shareholding in its subsidiaries /JVs
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Sector Market Position Brand
Financial Services Among top 5 fund managers (excl. Banks and LIC)
Fashion & LifestyleLargest premium branded apparel player
Largest linen manufacturer
Telecom Among top 3 cellular operators by revenuemarket share
Agri BusinessRayon
Insulators
2nd best energy efficient urea plant2nd largest manufacturer
Largest manufacturer
IT-ITeS Ranks 6 th Indian BPO company by revenue
Leadership position across businesses in India
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Strongly placed in its businesses
Size : Large sizeable player across the businesses
Competitive edge : Well positioned vis--vis competition
Operating Performance : Marching on profitable growth
Future Prospects : Capturing opportunities across the businesses to achieve next level of growth
Financial position : Strong standalone balance sheet supporting growth
Return on investment : Earning strong return on investments in most of the businesses
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Financial snapshot : Consolidated
Earnings growing at robust CAGR
All the businesses are contributing to theprofitable growth
With Idea and Birla Sun Life insurance declaringdividend, ABNL has started generating return onits long term investments
Net Profit ( ` Cr.)
151
(436)
155
822 8901,059
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ( ` Cr.)
11,37514,331 15,523
18,18821,840
25,490
FY08 FY09 FY10 FY11 FY12 FY13
1,153867
1,686
2,6853,259
4,142
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ( ` Cr.)
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Consolidated Mix FY13
FinancialServices
27%
Telecom24%
Fashion &Lifestyle
21%
IT-ITeS10%
Manufacturing18%
FinancialServices
32%
Telecom29%
Fashion &Lifestyle
14%
IT-ITeS
8%
Manufacturing17%
RevenueEBIT
Note : Revenue and EBIT Mix is without Carbon Black business. Having received shareholders approval, ABNL is in the processof divesting the Carbon Black business
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1
Achieved revenue growth across the businesses
Note 1 : Including full figures of Asset Management business. As per AS27, Asset Management business has been proportionately co nsolidated @ 50% in ABNLs financials, being a 50:50 Joint Venture till 9th Oct12.Thereafter it is consolidated as subsidiary since ABFS holds 51% w.e.f . 10th Oct12.
Note 2 : Full financial numbers of Idea Cellular. Being a JV, Idea Cellular has been consolidated at 31.78% from 10 th March 2007 upto 12 th August 2008, at 27.02% upto 1 st March 2010 andat ~ 25.3% thereafter as per AS 27 .
Note 3 : Represents Branded apparels & Accessories (Madura & Pantaloons) and Textiles. In FY13, nine months financials for Pantaloons are included pursuant to its acquisition w.e.f. appointed date 1 st July 2012Note 4 : Represents Agri , Rayon and Insulators. Having received shareholders approval, ABNL is in the process of divesting the Carbon Black business
Revenue
3500
4778
5871 6313 6550 6390
FY08 FY09 FY10 FY11 FY12 FY13
Financial Services 1
1622 1688 18262576
3281
4930
FY08 FY09 FY10 FY11 FY12 FY13
Fashion & Lifestyle 3
1677 17771530
1692
2082
2466
FY08 FY09 FY10 FY11 FY12 FY13
IT-ITeS
16622212 1988
2327
3255
4155
FY08 FY09 FY10 FY11 FY12 FY13
Manufacturing 4
( ` Crore)
672010131
1239815438
1948922407
FY08 FY09 FY10 FY11 FY12 FY13
Telecom 2
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1
Augmented profitability across the businesses
-351-586
-231
544 661819
FY08 FY09 FY10 FY11 FY12 FY13
Financial Services 1
107-104
66
235339
466
FY08 FY09 FY10 FY11 FY12 FY13
Fashion & Lifestyle 3
454
105
193 189
251
FY08 FY09 FY10 FY11 FY12 FY13
IT-ITeS
363
474426 420 406
446
FY08 FY09 FY10 FY11 FY12 FY13
Manufacturing 4
EBITDA ( ` Crore)
23763051
3621 3903
51356091
FY08 FY09 FY10 FY11 FY12 FY13
Telecom 2
Note 1 : Including full figures of Asset Management business. As per AS27, Asset Management business has been proportionately co nsolidated @ 50% in ABNLs financials, being a 50:50 Joint Venture till 9th Oct12.Thereafter it is consolidated as subsidiary since ABFS holds 51% w.e.f . 10th Oct12.Interest cost of NBFC biz., being operating expense as per AS17, is deducted from segmental EBITDA.
Note 2 : Full financial numbers of Idea Cellular. Being a JV, Idea Cellular has been consolidated at 31.78% from 10 th March 2007 upto 12 th August 2008, at 27.02% upto 1 st March 2010 andat ~ 25.3% thereafter as per AS 27 .
Note 3 : Represents Branded apparels & Accessories (Madura & Pantaloons) and Textiles. . In FY13, nine months financials for Pantaloons are included pursuant to its acquisition w.e.f. appointed date 1 st July 2012Note 4 : Represents Agri , Rayon and Insulators. Having received shareholders approval, ABNL is in the process of divesting the Carbon Black business
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1
Growth supported by strong Standalone Balance SheetStandalone Capital Employed
(` Cr.)
Strong balance sheet with Net Debt to EBITDA @ 3.3x and Net Debt to Equity @ 0.53x
Despite more than 50% of standalone capital employed being deployed in long term investments
Going forward, the Companys balance sheet will be further strengthened & growth plans will be supported by :
Proceeds from divestment of Carbon Black business
Balance equity infusion of ` 671 Cr. by promoters on conversion of remaining 9.82 million warrants
Realisation of subsidy & receivables in Agri business which rose to ~ ` 1,625 Cr. in Mar13 (PY : ` 700 Cr.). Thisincludes ~` 500 Cr. w.r.t. trading of imported P&K fertilisers. Subsidy of ` 376 Cr. was received after 31 st Mar13Distribution of dividend / surplus funds by Idea and Birla Sun Life Insurance
1,4153,478
3,910 4,9825,436 5,424
5,5985,857
2,524
2,652
3,0583,767 3,044
3,4374,696
5,157
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13
Long TermInvestments
Fixed Assets &
Working Capital
2.83.9 3.8
5.8
4.13.3 3.6 3.3
0.58
0.78
0.62
0.87 0.74
0.580.66
0.53
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13
Net Debt / EBITDA Net Debt / Equity
Standalone Ratios
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1
Anchored by a strong Management Team
Business Head/Director Business
Dr. Rakesh Jain Sector Head - Agri,Insulators, Chemicals
IT-ITeSMr. Ajay Srinivasan Financial Services
Mr. Pranab Barua Fashion & Lifestyle
Mr. Thomas Varghese Textiles
Mr. Lalit Naik VFY , Chemicals, Agri,
Insulators
Mr. Himanshu Kapania Telecom
Whole Time Director & Chief Financial Officer
Mr. Sushil Agarwal
Board of Directors
The Company has a balanced Board, comprising of 3Executive, 3 Non-Executive and 6 IndependentDirectors.
Each business is run as an independent SBU under theleadership of a business head
Chief Financial Officer heads the finance function whichis the life blood for a business
Business heads and the Chief Financial Officer havewide-ranging experience in the areas of business
development, strategy formulation, restructuring,
acquisitions, technology management etc.
Some of the senior management team members, priorto joining Aditya Birla Group, have also played key rolesin the globally renowned organisations viz., GE,
Prudential Corporation Asia, Hindustan Unilever, Reckitt
Benckiser etc.
Independent directors have rich experience in theirrespective fields and incl. ex-secretary to the Presidentof India and former top executives from the esteemedorganisations viz., Exim Bank, LIC, IDBI, UTI etc.
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1
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1
Aditya Birla Financial Services
Adi Bi l Fi i l S i (ABFS)
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1
Ranks among top 5 fund managers in India (excl. LIC)
Funds under management @ ~USD 20 billion
Revenue of ~USD 1.2 billion
Anchored by ~14,750 employees & trusted by ~5 mn customers
Nation wide presence through ~1,550 branches / touch points and
~160,000 agents / channel partners
Strong growth in profitability
Generated return on average capital employed of 31% in FY13
Aditya Birla Financial Services (ABFS)
Note 1 : Includes AUM of Life Insurance, Private Equity and quarterly AAUM of Asset Management business
Note 2 : Including full figures of Asset Management business. As per AS27, Asset Management business has been proportionately co nsolidated @ 50% in ABNLs financials, being a 50:50 Joint Venture till 9thOct12. Thereafter it is consolidated as subsidiary since ABFS holds 51%w.e.f . 10th Oct12.Interest cost of NBFC biz., being operating expense as per AS17, is deducted from segmental EBITDA.
-351-586
-231
544661
819
FY08 FY09 FY10 FY11 FY12 FY13
2 EBITDA
3500
4778
58716313 6550 6390
FY08 FY09 FY10 FY11 FY12 FY13
2 Revenue
51445 57825
8347288309 88393
107560
Mar '08 Mar '09 Mar'10 Mar'11 Mar'12 Mar'13
1 Funds under Management
Adi Bi l Fi i l S i (ABFS)
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1
Aditya Birla Financial Services (ABFS)
Gained market share across the businesses
Strong growth in lending book and assets under management
Business Parameter FY12 FY13
Life Insurance Private sectors newbusiness premium 7.8% 8.0% Asset Management Domestic avg. AUM 9.2% 9.4%
Non-life Insurance Advisory Non-life industry premium ~0.5% ~0.9%
Broking Retail cash equity broking 1.16% 1.50%
Business Parameter FY12 FY13
Life Insurance AUM (Y-o-Y growth%) 21,110 22,929 (+9%)
NBFC Book Size (Y-o-Y growth%) 3,425 8,000 (+135%)
Asset Management Avg. AUM - Q4 (Y-o-Y growth%) 66,082 83,451 (+26%)
Wealth Management Avg. assets under advisory 14,000 16,500 (+18%)
Non-life Insurance Advisory Premium placed (Y-o-Y growth%) 304 634 (+108%)
( ` Crore) ( ` Crore / y-o-y growth)
Adit Bi l Fi i l S i (ABFS)
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2
Sound fund performance in Asset Management
and Life Insurance businesses
Capital Infusion to support growth in NBFCLending book grew @ 100% CAGR in past 3
years to reach ` 8,000 Cr. in Mar13 A sum of ` 650 Cr. was invested during this period
years to support growth
Returning surplus funds to the shareholders by
Birla Sun Life Insurance (BSLI)
Birla Sun Life Insurance turned profitable in FY11
Distributed interim dividend of ` 98 Cr. in FY12
and ` 197 Cr. in FY13
Plan for 2013-14 : ~ ` 400 Cr.
This will support ABNLs capital commitmentstowards the Financial Services business
Aditya Birla Financial Services (ABFS)
2012-13 2011-12
Revenue
Birla Sun Life Insurance 5,037 5,691
Birla Sun Life Asset Management 405 315
Aditya Birla Finance 713 348
Aditya Birla Money 84 88
Aditya Birla Money Mart 76 60 Aditya Birla Insurance Brokers 57 32
Aditya Birla Capital Advisors (PE) 24 21
Elimination (6) (5)
Revenue 6,390 6,550
Earnings before tax 761 600
Net Profit 672 539
` Crore
Note : Including full figures of Asset Management business. As per AS27, AssetManagement business has been proportionately consolidated @ 50% in ABNLsfinancials, being a 50:50 Joint Venture till 9 th Oct12. Thereafter, it is consolidated assubsidiary since ABFS holds 51% w.e.f. 10 th Oct12.
Bi l S Lif I
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2
Birla Sun Life Insurance (BSLI)
Growth in Total Premium Income Growth in AUM ( ` Crore)
BSLI ranks 5 th among private players with a market share of 8% in FY13.
Balanced sales mix : During FY13, non ULIP contributed to 56% (PY: 46%) of individual new business.
Strong distribution reach : A nation-wide presence with more than 600 branches, over 100,000 direct selling agents, 5
bancassurance partners and about 200 corporate agents & brokers
As on 31 st Mar13, 13th month premium persistency is at ~81.3% & 25 th month premium persistency at ~76.6%
Embedded Value at ` 4,015 Cr. & VNB margin at 22.8% in FY12
Going Forward : Augmenting product offerings and strengthening sales relationships to gain market share besides
focusing on persistency and expense management
( ` Crore)
1,307 1,7512,546
3,597 3959 33801,965
2,8212,960
2,080 1926 1837
FY 08 FY 09 FY 10 FY 11 FY12 FY13
3,272
4,5725,506
52%
New Business
Premium
RenewalPremium
5,677 5,885
5,216
19,760
Mar'08 Mar'09 Mar'10 Mar'11 Mar'12 Mar'13
6,8939,168
16,130
40% 35%
47%
Debt
Equity46%
21,110
45%
22,929
41%
Birla Sun Life Asset Management ( SA C)
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2
Birla Sun Life Asset Management (BSAMC)
Growth in AUM ( ` Crore)
17 years + journey of continued wealth creation
Ranked 4 th in India with market share of 9.4% in Q4FY13
Registered 2nd highest y-o-y growth rate among top 5 players
Building alternate assets : Maiden Real Estate Onshore Fund of ` 1,060 Cr.
Offshore AUM grew to ~USD 850 million
Expanding International Presence : Set up offices in Dubai & Singapore
Posted revenue at ` 405 Cr. & Net profit at ` 73 Cr. in FY13
Going forward : Growing profitable assets with a thrust on improving distribution efficiency and fund performance
1Equity AUM (Domestic & Offshore) + PMS + Real Estate Onshore Fund
28,38142,489
52,902 52,383 50,54366,284
16,1716,168
13559 15,285 15,539
17,167
Mar'08 Mar'09 Q4FY10 Q4FY11 Q4FY12 Q4FY13
44,552
66,461
48,657
Equity & Alternate Assets 1
Debt & Liquid
67,668 66,082
83,451
Financials
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2
Financials
Birla Sun Life Asset Management
` Crore 2012-13 2011-12
New Business Premium
Individual Business 1,048 1,250
Group Business 788 676
New Business Premium (Gross) 1,837 1,926
Renewal Premium (Gross) 3,380 3,959
Premium Income (Gross) 5,216 5,885 Less : Reinsurance ceded & Service tax (313) (261)
Premium Income (Net) 4,903 5,624
Other Operating Income 134 67
Revenue 5,037 5,691
Earnings before tax 542 461
Net Profit 542 461
Capital 2,450 2,450
Assets under management 22,929 21,110
Q4FY13 Q4FY12
Equity 10,860 10,631
Debt & Liquid 66,284 50,543
Domestic AUM 77,144 61,174
Off shore 4,600 3,368 PMS 643 461
Real Estate Fund 1,063 1,078
Total AUM 83,451 66,082
2012-13 2011-12
Revenue (Fee Income) 405 315
Earnings before tax 107 89
Net Profit 73 59
Average AUM ` Crore
` Crore
Birla Sun Life Insurance Birla Sun Life Asset Management
Aditya Birla Finance (NBFC)
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2
Aditya Birla Finance (NBFC)
Closing book size as on 31 st Mar13 more than doubled y-o-y to reach ~ ` 8 ,000 Cr.
All the segments are contributing to the growth
Posted revenue at ` 713 Cr. & Net profit at ` 100 Cr. in FY13
Net worth as on 31 st Mar13 is ` 1,079 Cr. (PY : ` 628 Cr.)
Share Capital of ` 350 Cr. was infused in FY13 to support growth.
The business is growing at a good pace and will require further
capital for future growth
Scaling up the book size while keeping risk under control
600 9001,850
3,425
8,000
Mar'09 Mar'10 Mar'11 Mar'12 Mar'13
NBFC : Book Size( ` Crore)
Crore Mar'13 Mar'12
Capital Market 2,750 1,625
Corporate Finance 1,650 850
Infra Financing 2,100 650
Loan against property/ LeaseRental Discounting
1,400 65
Broad break-up of NBFC book
` Crore 2012-13 2011-12
Revenue 713 348
Earnings before tax 147 84
Net Profit 100 56
Other Financial Services
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2
Other Financial Services
Aditya Birla Private Equity : Of ` 1,179 Cr. corpus, ABPE has deployed / committed ~58% of the deployable surplusABPE Fund I (Size : ` 881 Cr.) has invested in Anupam Industries, Bombay Stock Exchange, Credit Analysis &Research Ltd., GEI Industrial systems, Alphion India Pvt. Ltd., Trimax IT Infrastructure & Services and Ratnakar Bank
Sunrise Fund (Size : ` 299 Cr.) : Investment made in SMS Paryavaran Ltd., Olive Bar and Kitchen Ltd. and TreeHouse Education & Accessories Ltd.
Aditya Birla Money : is a retail broking company with nationwide network of more than 800 touch points (includingfranchisees) serving over 300,000 customers across more than 150 cities
Aditya Birla Money Mart : Among the leading corporate mutual fund distributors in India having Assets under Advisoryof more than ` 135 billion (Q4FY13) and a nationwide presence with 24 branches and ~16,000 channel partners
Aditya Birla Insurance Brokers : A leading non-life insurance broking company in India. The premium placementmore than doubled year on year to ` 634 Crore
2012-13 2011-12 2012-13 2011-12 2012-13 2011-12 2012-13 2011-
Revenue 24 21 84 88 76 60 57 32
Earnings before tax 9 6 (15) (19) (2) (21) 16 9
Net Profit / (Loss) 6 4 (15) (18) (2) (21) 11 6
` Crore
Aditya Birla CapitalAdvisors (Private Equity)
Aditya Birla Money Mart(Wealth Management)
Aditya Birla InsuranceBrokers (General
Insurance Advisory)
Aditya Birla Money(Broking)
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2
Fashion & Lifestyle
Fashion Lifestyle
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2
The largest branded apparel player in India selling one apparel every
second
Largest manufacturer of linen fabric in India
Nationwide reach through a large controlled retail presence of 1,443
stores spanning across 3.7 million sq. ft.
Besides, reaching customers through more than 4,750 MBOs &
Department Stores.
Combined revenue (annualised) 1 of ~USD 1 billion
Generated return on operating capital employed @ 25%
Fashion Lifestyle
Business EBOs /Stores
RetailSpace
(million sq. ft.)
Madura 1,272 1.9Pantaloons (incl.Factory Outlets) 95 1.7
Jayashree Textiles(Linen Club) 76 0.1
1,443 3.7
1FY13 includes nine months financials of Pantaloons Fashion business acquired w.e.f. the appointed date 1 st July 2012
Madura51%
Pantaloons26%
Jayashree23%
Revenue mix 1 (FY13)
(For 9 monthsJul12-Mar13)
1622 1688 18262576
3281
4930
FY08 FY09 FY10 FY11 FY12 FY13
Revenue 1
107-104
66
235339
466
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA1
2
2FY13 EBITDA excludes interest income of ` 62 Cr. on current investments to make performance comparable
Madura Fashion Lifestyle
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2
1,026 1,116 1,251
1,8112,239 2,523
FY08 FY09 FY10 FY11 FY12 FY13
Madura Fashion LifestyleRevenue ( ` Cr.)
39
(158)
(4)
136196
245
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ( ` Cr.)
Madura Fashion & Lifestyle is the largest branded apparel player in India
Strong Brands : Louis Philippe, Van Heusen, Allen Solly, Peter England,Collective, Plant Fashion, People
Louis Philippe & Van Heusen are the best selling brands in IndiaEBITDA margin of brands enhanced to 11.5% (PY:10.2%)
Revenue doubled in past 3 years to cross ` 2,500 Cr. mark growing @ CAGR
of 26% while capital employed is managed at similar levels leading toROACE expansion from 11% in FY11 to 29% in FY13
Expanding retail channel to strengthen market leadership
Besides these EBOs, Madura is reaching customers through more than 1,750MBOs & Department Stores
Retail Channel
698895
1,1291,272
Mar'10 Mar'11 Mar'12 Mar'13
1.0 1.31.6 1.9
Retail Space(Million Sq Ft)
No. of EBOs
Madura Fashion Lifestyle
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2
Madura Fashion Lifestyle
46%37%
17%
Channel-wise revenue Mix
Clearance Sale
& Exports
Retail (EBOs incl.Planet Fashion)MBOs &
Department Stores
(PY : 38%)
(PY : 44%)
(PY : 18%)
2012-13 2011-12
Revenue (excluding Esprit) 2,483 2,167
Esprit Revenue 40 73
Total Revenue 2,523 2,239
EBITDA (excluding Esprit) 269 204
Esprit EBITDA (24) (7)
Total EBITDA 245 196
Segment EBIT 157 123
Capital Employed 479 615
ROACE (Annualised) (%) 29 20
` CroreFull Year
Launched online shopping portal : One-stop shopping destination for Madura brands.
Going Forward : Leveraging brand leadership, expanding retail space & strengthening channel relationships
Note : Madura exited distribution tie up with Esprit and closed all Esprit stores in FY13
Pantaloons Fashion & Retail Ltd.
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3
Status
ABNL, through its subsidiary Peter England Fashions & Retail Ltd. (PEFRL) invested ` 800 Cr. throughOptionally Fully Convertible Debentures (OFCDs) in Pantaloon Retail India Ltd. (PRIL)
The Board of Directors of PRIL and PEFRL approved the Scheme of Arrangement The Board of PEFRL approved the share entitlement ratio in relation to the demerger [1 equity share of ` 10/- each in PEFRL for 5 equity shares (incl. DVR shares) of ` 2/- each held in PRIL]
Post approval by stock exchanges, demerger scheme filed with the Honble Bombay High Court
The shareholders of PRIL approved the scheme in their meeting held on 6 th Dec12
The Competition Commission of India approved the transaction vide its order dated 21 st Dec12
PRIL, through court scheme of arrangement, transferred all undertakings, business activities andoperations pertaining to the Pantaloons Fashion alongwith debt of ` 1,600 Cr. to PEFRL. PRILredeemed ` 800 Cr. OFCDs and redemption proceeds utilised by PEFRL to reduce debt. The AppointedDate of the transfer is 1 st July 2012. Scheme made effective on 8 th Apr13.
PEFRL rechristened as Pantaloons Fashion & Retail Limited (PFRL). PFRL issued equity shares to shareholders of PRIL as per share entitlement ratio. Shareholding of ABNL,
through its wholly owned subsidiary Indigold Trade & Services Ltd. (ITSL), in PFRL, became 50.09%
A voluntary open offer was made by ITSL to the public shareholders of PFRL up to 24.91% of the postdemerger paid up equity share capital of PFRL at a predetermined price of Rs 175 per share.
On receipt of requisite approvals, the equity shares of PFRL will be listed on the National Stock Exchangeof India and The Stock Exchange, Bombay Jun13
Pantaloons Fashion Retail Ltd.
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Pantaloons : Posted revenue 1 at ` 1,285 Cr. & EBITDA^ at ` 67 Cr . (incl. 9 months financials of the acquired Pantaloons business)
Gross margin was sustained, however, moderated sales growth and higher sellex impacted EBITDA
One time costs on account of change in accounting policy also lowered profitability
Customer reach stands expanded to 69 Pantaloons stores & 26 Factory Outlets across 1.7 million sq. ft.
Added 6 Pantaloons stores & 3 Factory Outlets during 9 months
Menswear 35%
Womenswear 38%
Kidswear 9%
Non-apparel18%
Revenue Mix2012-13(Including nine
months financialsof Pantaloons)
Revenue 1,285
EBITDA^ 67
Finance Cost^ 82
Depreciation 54
Net Profit / (Loss) (69)
^ Net of interest income of ` 62 Cr. on c urrent investments
` Crore
1
1FY13 includes nine months financials of Pantaloons Fashion business acquired w.e.f. the appointed date 1 st July 2012
` CroreAs on
31st Mar'13
Net Fixed Assets 488
Goodwill 1,168
Net Working Capital 44
Capital Employed 1,700
Net Worth 770
Net Debt# 931
# Net of current investments of ` 800 Cr.
Jaya Shree Textiles
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Jaya Shree Textiles (JST) is the domestic market leader in Linen segment
Branding & promoting linen fabric under Linen Club
Focus on high margin linen fabric OTC segment
Contributes to 50% of total linen fabric sales
One of the largest player in Wool segment in India
Revenue crossed ` 1,000 Cr. mark
ROACE improved considerably: Earnings doubled in past 3 years while capital employed is managed at a lower level.
To capitalise on buoyant demand in the linen segment, JST is expanding linen yarn capacity from 2,300 TPA to 3,400
TPA & linen fabric processing capacity from 7.3 million meters to 10.1 million meters at capex of ` 100 Cr. in Q2FY14
y
600573 577
774
1,0461,144
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ` Cr.)
68 54 6999
141154
11.3%9.5%
12.0% 12.8%13.4%
13.5%
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ` Cr.) OPM(%)
359 345281
198
88
179
15% 9%15% 32%
82%
97%
FY08 FY09 FY10 FY11 FY12 FY13
Capital Employed ` Cr.) ROACE (%)
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Telecom
Idea Cellular (Telecom)
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672010131
1239815438
1948922407
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ( ` Cr.)
Having a market cap of ~USD 8 billion, Idea is the biggest revenue market share gainer in India since past four years
Ranks 3 rd in terms of pan India revenue market share 1 at 14.8% up from 14.4% a year ago.Contributed to 20.5% of industrys incremental mobilerevenue 1 in 9mFY13
Ranks among top 10 players globally with total Minutes of voice usage of about 1.6 billion per day
Base of 121.6 mn subscribers provides a platform for upgrading pure voice customers to wireless data services in future
Winner of 3G spectrum in 11 service areas which contribute more than 75% of Ideas existing2G revenue
Idea holds 16% stake in the worlds largest Indus Towers
Strong balance sheet & cash profit to support growth :Standalone Net Debt/EBITDA 2.16 & Net Debt/Equity 0.82
Idea was free cash flow positive (after capex but before spectrum payout) in FY13.
Generated cash profit of ` 4,697 Cr. in FY13 attaining 30% y-o-y growth
Maiden dividend proposed @ 3% of share capital : Overall payout of ` 116 Cr. (incl. dividend distribution tax)
11.7%12.6%
13.6%14.4% 14.8%
Q4FY09 Q4FY10 Q4FY11 Q3 FY12 Q3 FY13
Revenue Market Share 1
23763051
3621 3903
51356091
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ( ` Cr.)
1Based on gross revenue for UAS & Mobile licenses only, as released by TRAI
Idea Cellular (Telecom)
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Currently, 26.2 million subscribers use mobile data services, contributing 6.6% of total service revenue in Q4FY13
As on 28 th Feb13, Idea has around 98.4% of reported subscribers as active subscribers, highest in the industry.Going forward: Capitalising on brand !DEA, consolidating position in voice market & expanding in evolving wireless
broadband business
10.4 8.8 9.5 9.0 7.210.1
FY08 FY09 FY10 FY11 FY12 FY13
Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13
35
133 114123 131
14365
8979 121
133 140
Net Wort
Total Deb
Strong Balance Sheet (Figures in ` billion)
4,76310,114 24,793
49,86066,187 73,668
96,015 107,234
Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13
Subscribers (In Million)
Cell Sites: Capacity grew multifold
Robust growth in MOUs (billion minutes)
21 46 86 165 243 363453 532
FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13
7.4 14.0 24.043.0 63.8
89.5112.7 121.6
Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar '12 Mar '13
Net Profit ( ` billion)
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IT-ITeS
Aditya Birla Minacs (IT-ITeS)
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Ranked 6 th among Indian BPO companies by revenue size (Source: NASSCOM)
A global solution provider serving > 100 clients through 36 centres in US, Canada, Europe, India & Philippines
Employees base of 20,500 (North America : ~8,000, APAC : 12,500) as on 31 st Mar13
Revenue reaches near to ` 2,500 Cr. mark in FY13 and EBITDA margin improved y-o-y from 9.1% to 10.2%
On constant currency 2 basis, revenue grew y-o-y by 8% & EBITDA by 13% during FY13
Net profit surged by 80% from ` 70 Cr. to ` 125 Cr. in FY13
Generating steady cash profits to fund its capex and working capital requirementsNet Debt as on 31 st Mar13 at ` 977 Cr. stands reduced y-o-y by ` 129 Cr.
ROACE of 11.5% at capital employed of ` 1,449 Cr. (PY : ` 1,399 Cr.)
Going Forward : Enhancing profitability with focus on operational efficiencies to improve margins.
1677 17771530
1692
2082
2466
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ( ` Cr.)
454
105
193 189
251
FY08 FY09 FY10 FY11 FY12 FY13
1
EBITDA ( ` Cr.)
1Received employment incentive arrears of ` 25 Cr. in 2010-11
US77%
Canada14%
Asia
Pacific6%
Europe3%
Revenue Mix by Customer Location
2Normalising for CAD/INR translation impact due to forex movement
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Manufacturing
Manufacturing Businesses
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Revenue
FY12 FY13Business
EBITDA
FY12 FY13Remarks on profitability
2,107 2,924 Agri 211 197Lower urea sales volume and higher energy costs due toplanned maintenance shutdown
680 777 Rayon 128 189 Higher VFY & ECU realisation and growth in volumes
468 454 Insulators 67 61 Sales volume & margins were impacted due to cheaper imports
3,255 4,155 Total 406 446 Revenue grew by 28% and EBITDA by 10%
1,943 2,036 Carbon Black 2 204 132 Constrain on sales volume & margins due to cheaper importsand lower off-take from tyre manufacturers
5,198 6,191 611 579
Revenue 1 grew by 28% to ` 4,155 Cr. in FY13
EBITDA1 is up by 10% to ` 446 Cr.
Operating at an ROACE1
of 15.4%
2Having received shareholders approval, ABNL is in the process of divesting the Carbon Black business, w.e.f. 1st April 2013
1 Agri, Rayon and Insulators
Indo Gulf Fertilisers (Agri-business)
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Acute deficit of urea in India Approx. 25% of the demand is imported
Indo Gulf Fertilisers has 10-20% market share in the target markets
of Uttar Pradesh, Bihar, Jharkhand and West Bengal
Strong brand BirlaShaman is preferred choice of farmers Also offering value adding variety Neem coated Krishi Dev
A complete agri-solutions provider Fertilisers, Seeds, Pesticides
Capital employed has increased primarily due to higher outstanding subsidy on account of slower recovery, rise in natural
gas prices and increase in trading sales of imported P&K fertilisers. Received ` 376 Cr. since 31 st Mar13
The Board of Directors has approved proposal for urea brownfield expansion by 3,850 TPD (~1.3 million TPA)
Proposed capacity, subject to government approvals, will more than double the existing capacity
102
228
155 176211 197
13%
18%
15% 14%
10%7%
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ` Cr.) OPM(%)
531 587307
496
984
1,854
18%
38%31%
39%
26% 12%
FY08 FY09 FY10 FY11 FY12 FY13
Capital Employed ` Cr.) ROACE (%)
7871,250
1,0221,244
2,107
2,924
870 1073 1106 1099
1152
1091
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ` Cr.) Sales ('000 MT)
Urea Brownfield Expansion proposal
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Background
Total Urea consumption in India at ~ 29 million MT is growing at ~ 4% p.a.
India imports more than 25% of its Urea requirements (~ 7.8 million MT in FY12 )
To reduce mounting urea subsidy bill in the national interest, the Government of India notified New Investment Policy(NIP) for Urea on 2nd January, 2013. Objective is to cut down urea imports by promoting indigenous capacity expansion.
Brownfield Expansion plan : Indo Gulf Fertilisers
The Board of Directors of ABNL has approved proposal for Urea brownfield expansion by 3,850 TPD (~1.3 million TPA)at existing Indo-Gulf fertilisers complex in Jagdishpur (U.P.) under the New Investment Policy subject to requisiteGovernment approvals
Land is available at existing plant location in Jagdishpur (U.P.)
The proposed plant at Jagdishpur will be located in the heart of Indo-Gangetic plains, which gives a logistic advantage.
Plant will be strategically located near to the urea deficit North Eastern India region
BirlaShaktiman enjoys top of the mind recall among farmers in the area.
Major regulatory approvals in place : Environmental, Pollution Control, Water Supply
Final approval for setting up of the proposed urea plant is awaited from Department Of Fertilisers
Project completion period : About 3 years
Project Capex : ~ ` 4,000 Cr.
Indian Rayon (VFY and Chemicals)
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2nd largest producer of VFY in India with ~38% domestic production share
Largest Indian VFY exporter for consecutive 8 th year
with ~48% share in VFY exports from India in FY13
Integrated facilities : Cost effective 34.5 MW captive power plant
VFY has a niche market globally
Premium is driven by quality and value added yarns
Expanded its presence in fine & superfine VFY segment using Spool Technology from Germany at a capex of ~ ` 270 Cr.
in Mar13. New VFY plant has been commissioned and is currently under ramp up. New capacity will enhance theproduct range and will cater to the premium segments.
Increase in capital employed in FY13 is primarily on account of VFY capacity expansion. ROACE improved to 26%
454437
430
440515
681
20% 20%
28%
17% 19%
26%
FY08 FY09 FY10 FY11 FY12 FY13
Capital Employed ` Cr.) ROACE (%)
476 537 538565
680 777
17923 16792 16616 15592 16183 16806
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ` Cr.) VFY Sales Volume (MT)
124 123 155 110 128
189
26%23%
29%
19%19% 24%
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ` Cr.) OPM(%)
Aditya Birla Insulators
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Used in power generation, Transmission & distribution (T&D) and by Original Equipment Manufactures (OEMs)
Aditya Birla Insulators is largest domestic producer & 4 th largest globally with a capacity of 45,260 TPA at two plants
Power Grid corporation of India & State Electricity Boards , ABB, Areva, Siemens etc. are amongst major customers
Insulators industrys domestic sales volume de-grew y-o- y by 15% during Apr12-Feb13(Source : IEEMA)
Deferment of projects coupled with cheaper imports from China impacted sales and margins across the industry
Liquidity crunch in the power sector is also restricting dispatches
Aditya Birla Insulators contained de-growth in its volumes to 8% during the year
Finance Ministry has imposed safeguard duty of 35% on insulators imports from China from 20 th Dec12 to 19th Dec13and then 25% till 31stDec13.
136 123 116 134
67 61
34%29% 27% 26%
14% 13%
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ` Cr.) OPM(%)
240 264294
362 375 395
58% 43% 35% 34% 12% 10%
FY08 FY09 FY10 FY11 FY12 FY13
Capital Employed ` Cr.) ROACE (%
399 425 428518 468 454
32304 32561 37050
4428139024 35889
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ` Cr.) Sales Volumes (MT)
Hi-Tech Carbon
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Having received shareholders approval, ABNL is in the process of divesting Carbon Black business, w.e.f. 1st April 2013
Aditya Birla Group is largest player globally (Capacity : 2 million MTPA)
Operating in 12 countries through 17 plants globally
Indian operations are through ABNL which accounts for 2% of global industry capacity
Carbon Black imports in India increased y-o-y by ~50% in FY12 & 19% in FY13. Cheaper imports & lower offtake from
tyre manufacturers impacted capacity utilisation of domestic players and constrained sales volume & cost pass through
Finance Ministry imposed safeguard duty of 30% on carbon black imports from China from 5 th Oct12 to 4th Oct13 and
then 25% till 31stDec13. The duty will apply on carbon black used in rubber applications (incl.tyres).
Despite imposition of safeguard duty on imports from China total imports remained at high level
Export volumes were also impacted due to cheaper exports from China 25%
8641,096 1,161
1,5881,943
2,036215 204 230
275 270 252
FY08 FY09 FY10 FY11 FY12 FY13
Revenue ` Cr.) Sales ('000 MT)
15350
253
257 204132
18%
5%
22% 16%11%
7%
FY08 FY09 FY10 FY11 FY12 FY13
EBITDA ` Cr.) OPM(%)
668 753942
1,235 1,365 1,24923%
3%
27%
20%
13%7%
FY08 FY09 FY10 FY11 FY12 FY13
Capital Employed ` Cr.) ROACE (%)
Divestment of Carbon Black business
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The Committee of Directors of ABNL, at its meeting held on 6 th April 2013 decided, subject to the approval of
Shareholders and other requisite approvals, to divest the Carbon Black Business, on a going concern basis, by way of
slump sale to SKI Carbon Black (India) Private Limited, an Aditya Birla Group Company, for a lump sum consideration
of ` 1,451 Cr. as enterprise value, subject to adjustment for net working capital.This is on the basis of an independent valuation carried out by M/s Deloitte Touche Tohmatsu India Pvt. Ltd.
The appointed date is 1 st April 2013.
Given that multi-national tyre manufacturers prefer to deal with carbon black players having global delivery capabilities,
the scale & global positioning in the Carbon Black sector has become increasingly important.
ABNLs Carbon Black business contributes to merely 2% of the global industry capacity.
Moreover, in view of ABNLs capital commitments towards funding the growth of its other businesses, it is challenginfor ABNL to become a global player.
The cash inflow from the divestment of Carbon Black business will reduce the debt and strengthen the ABNLs balancsheet. This will support ABNLs growth plans and ensure greater focus in the other businesses.
Having received the shareholders approval, ABNL is in the process of divesting the Carbon Black business.
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Segmental Revenue EBIT - Consolidated ( ` Crore)
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Consolidated
2012-13 2011-12 2012-13 2011-12
6,295 6,392 Aditya Birla Financial Services 706 541
5,037 5,691 Life Insurance 542 461
1,258 702 Other Financial Services* 165 80
5,662 4,933 Telecom (Nuvo's share) @ 639 534
4930 3281 Apparels & Textiles 299 242
3,802 2,243 Branded Apparels & Accessories 170 125
1,144 1,046 Textiles 129 117
(16) (8) Inter-segment Elimination - -
2,466 2,082 IT-ITeS 164 111
4155 3255 Manufacturing 369 329
2,924 2,107 Agri-business 177 192
777 680 Rayon 153 92
454 468 Insulators 39 46
2,036 1,943 Carbon Black 93 164 (54) (46) Inter- segment Elimination - -
25,490 21,840 Segmental EBIT 2,270 1,921
Revenue EBIT
* Other Financial Services include Asset Management (proportionately consolidated at 50%, being a 50:50 JV till 9 th Oct12 and thereafter consolidated as subsidiary since ABFS holds51% w.e.f. 10 th Oct12), NBFC, Private Equity, Broking, Wealth Management & General Insurance Advisory. Interest cost of NBFC business, being an operating expense as per AS17, is deducted from Segmental EBIT
@ Idea is consolidated at ~25.3%
Profit Loss Account ( ` Crore)
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2012-13 2011-12 2012-13 2011-12
9,754 8,433 Revenue 25,490 21,840
1,116 1,050 EBITDA 4,142 3,259
- - Less : NBFC Interest expenses 456 202
360 313 Less : Other Interest Expenses 865 636
756 737 EBDT 2,821 2,422
219 203 Less : Depreciation 1,295 1,092
537 534 Earnings before Tax (before exceptional items) 1,526 1,330
- (104) Exceptional Gain / (Loss)* - (104)
537 430 Earnings before Tax 1,526 1,226
114 85 Less : Provision for Taxation (Net) 342 216
- - Less : Minority Interest 125 120
423 345 Net Profit 1,059 890
Standalone
Profit & Loss Account
Consolidated
* A provision of ` 104 Cr. was made in Q4FY12 towards entry tax liability (largely related to previous years, ear lier recognized as contingent liability) w.r.t. Renukoot(U.P.) plant of the Carbon Black business; the matter is sub-judice.
ConsolidatedStandalone
Balance Sheet ( ` Crore
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6,854 5,679 Net Worth 9,384 7,517
- - Minority Interest 940 301
4,005 4,457 Debt 11,799 9,224
- - NBFC borrowings 6,903 2,973
155 158 Deferred Tax Liabilities (Net) 428 317
11,014 10,294 Capital Employed 29,455 20,331
- - Policyholders' funds (Incl. fundsfor future appropriation) 21,576 19,964
11,014 10,294 Total Liabilities 51,031 40,295
2,226 1,976 Net Block (Incl. Capital Advances ) 10,710 9,385
- - Goodwill
4,793 3,146
- - NBFC Lending 8,000 3,425
2,577 2,012 Net Working Capital 1,837 1,177
5,857 5,598 Long Term Investments 354 319
- - Life Insuranc e Investments 22,929 21,110
- - Policyholders' Investments 21,559 20,095
- - Shareholders' Investments 1,371 1,015
353 707 Cash Surplus & Current Invest ments 2,409 1,733
570 500 Book Value (`) 781 662
3.3 3.6 Net Debt / EBITDA (x) 2.3 2.3
0.53 0.66 Net Debt / Equity (x) 1.00 1.00
11,727 10,723 Market Capitalisation - NSE
Mar-13
Consolidated
Mar-12Mar-12 Mar-13
Standalone
Balance Sheet
Excluding MTM gain of ` 22 Cr. as on 31 st Mar13 and MTM loss of ` 104 Cr. as on 31 st Mar12w.r.t. fully hedged foreign currency working capital debt
Standalone Capex
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( ` Crore)
Plan To be spent(A) in FY14
Major Projects
Agri 296 53 243 162
Madura (Retail Stores) 144 - 144 113
Textiles 100 31 69 69
Rayon 71 45 27 27
Other Capex 437 107 330 286
1,049 235 814 657
CapexBalance to
be spent(C = A-B)
Spent tillMar'13
(B)
Shareholding Pattern Market Cap
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2,409
6,246
9,992
13,265
4,227
9,336 9,24410,723
11,727
402 748 1071
1396
445 906 814 945 976
Mar'05 Mar'06 Mar'07 Mar'08 Mar'09 Mar'10 Mar'11 Mar'12 Mar'13
Market Cap ` Crores) Closing Share price (`)
Trusted by 146,139 shareholders
Over 91% of shares are in dematerialised form
Face value of ` 10 per share
For analysts coverage on ABNL visit :
Market Cap & Share Price
Source : NSE website
Stock Code BSE : 500303 NSE : ABIRLANUVO Reuters : ABRL.BO / ABRL .NS / IRYN .LU Bloomberg : ABNL IB / ABNL IN / IRIG LX
http://www.adityabirlanuvo.com/investors/downloads/third_party_analysts_coverage.aspx
Category
No. of No. of Shares Shareholding
Shareholders held (in million) (%)
Promoter & Promoter Group 21 64.62 53.76%
Foreign Institutional Investors 290 18.65 15.51%
Domestic Insti tutional Investors 206 15.29 12.72%
Non-Insti tutional Investors 145,618 18.46 15.36%
GDRs 4 3.18 2.65%
Total 146,139 120.21 100.00%
As on 31st March 2013
DisclaimerCertain statements made in this presentation may not be based on historical information or facts and may be forwardlooking statements including
http://www.adityabirlanuvo.com/investors/downloads/third_party_analysts_coverage.aspxhttp://www.adityabirlanuvo.com/investors/downloads/third_party_analysts_coverage.aspx -
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Certain statements made in this presentation may not be based on historical information or facts and may be forwardlooking statements including,but not limited to, those relating to general business plans & strategy of Aditya Birla Nuvo Limited ("ABNL"), its future outlook & growth prospects,future developments in its businesses, its competitive & regulatory environment and management's current views & assumptions which may notremain constant due to risks and uncertainties. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in ABNL's business, its competitive environment, its ability to implement its strategies and
initiatives and respond to technological changes and political, economic, regulatory and social conditions in the countries in which ABNL conductsbusiness. Important factors that could make a difference to ABNLsoperations include global and Indian demand supply conditions, finished goodsprices, feed stock availability and prices, cyclical demand and pricing in ABNLsprincipal markets, changes in Government regulations, tax regimes,competitors actions, economic developments within India and the countries within which ABNL conducts business and other factors such aslitigation and labour negotiations.
This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer to acquire any shares and should not beconsidered as a recommendation that any investor should subscribe for or purchase any of ABNL's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of ABNL.
ABNL, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to,the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation,unless otherwise specified is only current as of the date of this presentation. ABNL assumes no responsibility to publicly amend, modify or reviseany forward looking statements on the basis of any subsequent developments, information or events or otherwise. Unless otherwise stated in thisdocument, the information contained herein is based on management information and estimates. The information contained herein is subject tochange without notice and past performance is not indicative of future results. ABNL may alter, modify or otherwise change in any manner thecontent of this presentation, without obligation to notify any person of such revision or changes. This presentation may not be copied anddisseminated in any manner.
INFORMATION PRESENTED HERE IS NOT AN OFFER FOR SALE OF ANY EQUITY SHARES OR ANY OTHER SECURITY OF ABNLThis presentation is not for publication or distribution, directly or indirectly, in or into the United States, Canada or Japan. Thesematerials are not an offer of securities for sale in or into the United States, Canada or Japan.
Aditya Birla Nuvo LimitedRegd. Office: Indian Rayon Compound, Veraval 362 266 (Gujarat)
Corporate Office: 4th Floor A Wing, Aditya Birla Center, S.K. Ahire Marg, Worli, Mumbai 400 030Website: www.adityabirlanuvo.com or www.adityabirla.com or Email: [email protected]
http://www.adityabirlanuvo.com/http://www.adityabirla.com/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.adityabirla.com/http://www.adityabirlanuvo.com/