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Camlin Fine Sciences Ltd.

Plot No . F/11 & F/ 12, WICEL, Opp. SEEPZ Main Gate, Central Road, Andheri (E}, Mumbai-4?0 093, India .
T : +91 22 6700 1000 I F : +91 22 2832 4404 I E: corporate@camlinfs.com I www.camlmfs.com
ISO 22000 Certified Company

CIN L7 41OOMH1993PLC075361

Date: 2410512016
To,
BSE Limited,
25, P. J. Towers,
Dalal Street,
Mumbai - 400 00 l
Ref: Company Scrip Code: 532834
To,
The Manager,
Listing Department,
National Stock Exchange of India Ltd. ,
Exchange Plaza, Bandra Kurla Complex,
Bandra (East), Mumbai- 400051
Ref: Symbol: CAMLINFINE 11 Series: EQ
Sub:

Intimation pursuant to Regulation 30 of SEBI (Listing Obligations and


Disclosure Requirements) Regulations, 2015 - ("SEBI LODR")

This is to inform you that the senior management team of the Company shall engage in
meetings with domestic and international institutional investors and analysts amongst
others in major investor hubs from May 25, 2016 upto June 06, 2016.
In this regard, please find attached a presentation prepared by the Company. It is clarified
that the presentation and the information contained therein does not constitute or form
part of an invitation or solicitation to offer to purchase or subscribe to any securities of
the Company in any jurisdiction. This presentation has been prepared for information
purposes only. The information contained in the investor presentation is not to be taken
as any recommendation made by the Company or any other person to enter into any
agreement with regard to any investment.
We request you to take the above on record and the same be treated as compliance under
the applicable Regulations of SEBI LODR.
Kindly take the above information on records.
Thanking You,
Encl.: a/a.
~cesLimited

Rahul D. Sawal
Group Compa Secretary

Shelflifesolutions|PerformanceChemicals|AromaChemicals

Corporate Presentation
CorporatePresentation
May 24 2016
May24,2016

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hi hl kill d
highlyskilledprofessionals,ourabilitytowinnewcontracts,changesintechnology,availabilityoffinancing,ourability
f i
l
bilit t i
t t h
i t h l
il bilit f fi
i
bilit to
t successfullycompleteandintegrateourexpansionplans,liabilities,political
f ll
l t
di t
t
i
l
li biliti
liti l
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CamlinFineSciencesLimited(CFS)
Leveraging core competencies to address a large target market
Leveragingcorecompetenciestoaddressalargetargetmarket

CFS Providingshelflifesolutionsalongwitharomaandperformance
chemicalstotargetlargeenduserindustries
ShelflifeSolutions

PerformanceChemicals

Aromachemicals

Shelflifeextensionproducts

Wide array of applications

Presence
Presenceinantioxidantsandintermediates
in antioxidants and intermediates
forfood,feed,petfoodandanimalnutrition

Fast growing segment for CFS through new


product introduction, scale and technology

Synthetic replacement for natural Vanilla and


offers multiple advantages like lower
cost, improved availability and consistency

Food

Petfood

Pharmaintermediates

Agrochemicals

Feed&food

Consumergoods

AnimalNutrition

Rendering

Dyesandcolours

Petrochemicals

IncenseSticks

Flavours&Fragrances

AquaCulture

Biofuels

Pharmaceuticals

CFS'productsfindapplicationsinwidespectrumofproductsinfood,animalnutrition,petfood,consumergoodsandindustrialuses

CFS|Keystrengthsanddifferentiators

Globalplayerinshelflifesolutions
acrossfood,feedandpetfood
f d f d d tf d

Strongfinancialsandcash
flows

Integrated across the value chain


Integratedacrossthevaluechain

Experiencedpromotersand
Experienced
promoters and
professionalmanagementteam

Localpresenceinglobalmarkets

Provenabilitytoacquireand
Proven
ability to acquire and
improvebusinessperformance

Diversifiedcustomerbase

AdvancedR&Dfacilities

Globalplayerinshelflifesolutionsandintermediatesforfood,feedand
petfood
Strongpresenceinbasicfoodgrade1 antioxidants;graduallyexpandingintoblends

Globalantioxidants
l b l
i id
(industrysizeof~US$3.2bn)

Naturalantioxidants

Syntheticantioxidants

Blends

TBHQ+BHA

Xtendra
/NaSure

CFS has a significant share in TBHQ and BHA globally

CFS is establishing its presence into Blends through its


brands Xtendra and NaSure

Source:Technavio
1 includesfood,feedandpetfood
5

Diversifiedproductbase
Acrossantioxidant,aromaandperformancechemicalssegments
CFSproductportfolio
Others:1%
Aroma:3%

Segment

Product

Applications

Diphenols

Catechol

Intermediate other compounds used in Pharma, Agrochemicals and fragrance


industries

HQ

Stabilization of monomers, intermediate


Agrochemicals, Dye stuff, Feed and food

TBHQ

Food and feed antioxidant to extend shelf life of products; used for stabilizing oils,
fats butter
fats,
b tter & margarine
mar arine

BHA

Food and feed antioxidant to extend shelf life of products; used for stabilizing oils,
fats, butter & margarine

BHT

Food antioxidant used in Cosmetics and pharma products

A
AscorbylPalmitate
b l P l it t

Antioxidant
A ti id t for
f sensitive
iti products
d t like
lik baby
b b food,
f d instant
i t t milk
ilk formula
f
l

Blends

Antioxidants to extend shelf life of food, feed and pet food products

Guaiacol

Food, Flavours and Fragrances, Pharma intermediates

Veratrole

Building block for other compounds in Agrochemicals, Consumer goods &


healthcare

TBC

Stabilization of monomers

MEHQ

Stabilization of monomers, building blocks for agrochemicals

OtherHQand
Catecholderivatives

Intermediate for Dyes, Pigments and Colours amongst others

Vanillin/
Ethyl Vanillin

Aroma compound in flavour and fragrances; Agro, Feed & Food, Consumer Goods
& Healthcare

Others

Different applications for products across Agrochemicals, Pharma, cosmetics etc.

Diphenols:18%
Antioxidants

PerformanceChemicals:22%

Performance
Chemicals

Antioxidants:56%

Aroma
Chemicals

Revenue (FY16)
Revenue(FY16)

compound

used

in

Pharma,

Fullyintegratedacrossthevaluechain
Ensuresbettercontrolonsupplychain,realizationsandmargins

KeyRawMaterial

Commodity
chemical

Phenol

Versalis; Novapex

CFSEurope
Diphenols

Eastman;Mitsui

Hydroquinone

Catechol

Solvay/Rhodia;Ube

OtherCFSgroupentities1

Performance
Chemicals

ShelfLifeSolutions

Aroma

AscorbylPalmitate
A
b l P l it t 2

TBHQ

G i l
Guaiacol

MEHQ

V illi
Vanillin

Blends

BHA

Veratrole

OtherderivativesofHQ

EthylVanillin

Otherderivativesof
Other
derivatives of
Catechol

Fullyintegratedfromdiphenolstostepdownderivatives,antioxidantblendsandVanillintherebyreducingriskofsupplychaindisruptions
1IncludesproductsmanufacturedthroughcontractmanufacturingforCFS
2

AscorbylPalmitateisnotapartofHQ/Catecholvaluechainandismanufacturedfromascorbicacid
7

Localpresenceinglobalmarkets
OngroundpresenceinAmericaandEuropewithstrongIndiafootprint
Geographicalreachacrosskeymarkets

Denmark
Netherlands
UnitedKingdom
Ravenna,Italy

Tarapur

Iowa,USA
Shanghai,China
Cuba

Mexicocity

Khopoli
p
Mahad

Guatemala

Mumbai

Columbia
Peru
OwnedPlants

Indaiatuba,Brazil

OutsourcedManufacturing
BlendingFacility
R&D/FoodLabs
Marketingoffices

CFSglobalfootprintisexpectedtoimproveordersfromglobalMNCswhoprefertheirsupplierstohavelocalpresenceacrossgeographies

Diversifiedcustomerbase
Acrosscustomersgeographiesandenduserindustries
Revenuebasediversifiedacrossgeographies

Goingforwarddiversificationshouldincreasefurther
Currently ~56% revenues are from food grade antioxidants;
Performance
Chemicals
(PC)
contributes
to
~22%
of
revenues, Diphenols (HQ & Catechol) constituted ~18% while Aroma
Chemicals (Vanillin) is at an early stage contributing ~3% of FY16
revenues

5%

In FY16 blends business contributed to ~1.0% of consolidated


revenues of CFS group

9%
31%

As PC, Vanillin and Blends businesses grow the revenue diversification


across products as well as clients should increase further

11%
FY16
Revenues

Acquisition of Dresen Quimica in Mexico will further diversify the


spread of revenues for CFS

19%

Geographical for CY15, Dresen Quimica (consolidated) had


revenues of US$16.45mn largely from Mexico, Central America and
parts of Latin America

Entry into new customers Opportunity to crosssell Dresens


products to CFS global customers and viceversa

25%

Europe

AsiaPacific(exc.India)

India

South&CentralAmerica

NorthAmerica

Others

Revenuebasediversifiedacrossgeographiesandcustomers;acquisitionofDresenQuimicaisexpectedtofurtherdiversifyrevenuebase

ContinuousinvestmentsinR&Dacrossgeographies
R&Dfacilitiesacrosstheworldwith#34scientistsacross2R&Dlabsand4ApplicationLabs

R&DLabs
Iowa,USA

Ravenna,Italy

ApplicationLabs

Mumbai,India

Developing customized
various applications

Tarapur,India

blends

for

Mexicocity

defined

performance

Product and process improvements


Catalyst application & development
Focusing on developing derivatives of
HQ and Catechol

Technical assistance and development


support to customers
Testing of
parameters

Development of new products and


value additions to existing products

Indaiatuba,Brazil

Conducts stability studies for shelf life


of various products
Pilotplant
Ability to run small batch sizes and
stabilize the process before commercial
scale manufacturing
Process improvements

10

hasenabledprocessimprovementsandglobalcertifications
ApprovalforgreenprocesstomanufactureGuaiacol
Ex ONCBroute
(concernsonbeingcarcinogenic
andenvironmentallyharmful)

Chlorobenzene

ONCB

O anisidine
Oanisidine

Guaiacol

Benzene

Ex Catecholroute
(believedtobe
environmentfriendly)

Phenol

Catechol

Vanillin

PatentappliedforbyCFS
ProcessusedbyCFS

CFShasappliedforpatentoftheenvironmentallyfriendlyexCatecholprocess,whichisapreferredapproachformanufacturingofVanillin
Majorcertifications
ISO 2008
ISO2008

ISO 2005
ISO2005

Kosher
BHA&TBHQ

FSAAI certificate
FSAAIcertificate

11

Kosher
Vanillin&TBC

Halal certificate
Halalcertificate

Provenabilitytoacquireandturnaroundbusinesses
CFSacquisitionandturnaroundofItaliansubsidiarywaswellconceivedandexecuted
Demonstratedexperienceinacquiringandintegratingcompanies
Acquiredin2011
At acquisition, Borregaards Italian subsidiary was engaged in the manufacturing of HQ
and Catechol
The acquisition gave CFS a significant presence in the European market; helped CFS
backward integrate to secure the sources of HQ and Catechol for global operations
Companys first international acquisition
At acquisition it had a capacity of 6,600MTPA which has been increased to 12,000MTPA
through debottlenecking and incremental capex

AcquisitionofCFSEurope,Borregaards
ItaliansubsidiaryforEUR1.4mn

Revenueshavegrownsubstantially

withsignificantimprovementinPATmargins

INRmn
10.8%

2,973
2,289

2,258

7.9%

1,881
1,467
3.6%

FY12

FY13

FY14

FY15

FY16

0.4%

0.4%

FY12

FY13

FY14

FY15

CFS'acquisition,turnaroundandintegrationofCFSEuropeisareflectionofthemanagementcapabilitiesofCFSteam

12

FY16

Leadershipteamacrosstheglobetoaddresscustomerdemandslocally
CFStopmanagementoperatesfromacrosstheworld
JackBoers
SeniorVP AntioxidantStrategy
andBusinessDevelopment
dB i
D l

JorgenSorensen
Global VP Antioxidants
GlobalVP

SandraGrossmann
GlobalBusinessDevelopment Petfood
CFSNorthAmerica

AnneMetteFrost
GlobalApplicationManager

JenniferIgou
VP Sales,
CFSNorthAmerica

R.ShivKumar
GeneralManager
ArturoJavierDvilaCabrera
VP Sales,
VP
Sales
Mexico,CentralAmerica

LucianodosSantosMonteiro
Luciano
dos Santos Monteiro
GeneralManager,SouthAmerica

AshishDandekar
hi h
d k
ManagingDirector,CFS
AntonioMenezes
ManagingDirector,CFSEurope

13

Experiencedleadershipteam
Experiencedleadershipteam
AnneMette Frost
GlobalApplication
Global
Application
Manager

AntonioMenezes
Managing
Director,CFS
Europe

Experience in the food industry with a specialization in


antioxidants for over 23 years
Having graduated as a food technologist from the Danish Meat
Trade College, she has experience in organizations like George
Weston Food Ltd. and DuPont Nutrition & Health

JJorgen Sorensen
S
GlobalVP
Antioxidants

Post Graduate in Agricultural Sciences with over 40 years of


experience in companies like Montedison SPA and ENI Group
Currently
C
tl the
th Managing
M
i Director
Di t off CFS Italy,
It l he
h was partt off the
th
erstwhile Borregaard Italia SPA

ArturoJavierDvila
Cabrera
VPSalesMexico,
CentralAmerica

Experience of over 3 decades in food ingredients sector in


industries like fats & oils, meat, confectionary with companies
l k AAK, Du Pont and
like
d others
h
Extensive experience in sales & marketing, strategy and product
development

JackBoers
SeniorVP
Antioxidant
Strategy&Business
Development

Mr. Boers is the founder of Vitablend Holding BV., The


Netherlands.
He was the Managing Director and Member of the Board of
Vitablend from November 2001 to April 2013
He is also the Coowner of The Better for You Company BV

JenniferIgou
Jennifer
Igou
VP Sales,
CFSNorthAmerica

Experience of ~14 years in antioxidants for food and beverage


ingredients with leading companies like FMC and Kemin
Strong technical knowhow with extensive experience in sales &
marketing
Holds a Bachelors of Arts, Chemistry & Microbiology from
University of Northern Iowa

LucianodosSantos
Monteiro
GeneralManager,
SouthAmerica

R.Shiv Kumar
GeneralManager
g

SandraGrossmann
Sandra
Grossmann
GlobalBusiness
Dev. Petfood
CFSNorthAmerica

14

Over twenty years of experience in management positions


within the food ingredients & packaging industries with a focus
on food and pet food applications
Past experience has been in a Global Danish food ingredients
company where he leading their antioxidant solutions business
to a premier position within the global food industry

Operational experience of ~17 years in the field of chemicals


with companies like CFS, BM&F and Kemin
Experienced in handling operations during the startup and
development stages of a business
Experience of around 2 decades in leadership roles with
different business units of Jubilant Group
Indepth understanding of agrochemicals, pharma, animal
feed, nutraceuticals, vitamins and fine chemical Industries in
greater China
Holds an MBA (international Marketing) from FMS, India and
B.Tech from National Dairy Research Institute

B.S. in Food Technology with 25 years of technical and


commercial expertise in the pet food industry including product
management, product development, sales and marketing, and
production. Certified Product Manager

Robustfinancialprofile1
CFSIncome hasgrownsteadily

withimprovingEBITDAmargins

Revenues(INRmn)

...thathasledtohealthyoperatingcashflows

EBITDAmargin(%)
19.1%

5,087
3,352

5,583
4,893

14.9%

3,736

16.2%

CFO(INRmn)
556

600

463
463

400

267

13.8%
200

12.0%

0
(200)
(400)
FY12

FY13

FY14

FY15

FY16

FY12

Ithasconsistentlyreducedleverage

FY13

FY14

FY15

FY16

evenwhileincreasingassetbase

Debt/Equityratio

(319)
FY12

FY13

FY14

FY15

thussupportingimprovementinitsratios

NetFixedAssets

RoCE

2.4
,
1,653

1.9

25%
20%

1.6
1,052

1.2

761

0.9

1,092

15%

840

10%
5%
0%

FY12

FY13

FY14

FY15

FY16

FY12

FY13

FY14

FY15

FY16

FY12

FY13

FY14

CFSaimstoincreaseitsprofitabilityfurther,bymovingupthevaluechainandincreasedcapacityutilization
1

Consolidatedfinancials;
TotaldebtforFY12FY15includescurrentportionofLTDebt;forFY16thedebtnumberdoesntincludethecurrentportionofLT Debt
RoCE iscalculatedasEBIT/AverageCapitalEmployed;EBITDAincludesOtherIncomeandmarginsarecalculatedongrossbasis

15

FY15

FY16

Futuregrowthstrategy

16

KeygrowthdriversforCFS

Focusonblendsforfood,feedand
pet food
petfood

Capacityexpansionthroughnew
plantatDahejSEZ

ScaleVanillinbusiness

Increasedrevenuefrom
introductionofnewderivativesof
HQandCatechol

LeverageMexicoacquisitionto
expandpresence&productbasket

17

Focusonsyntheticandnaturalblendsforfood,feedandpetfood
Blendsmarketofferslargeopportunities
antioxidantblendsforfood,feedandpetfood

NaturalVanilla
NaturalBlends
((industrysizeof~8,000MTPA)
y
f ,
)

SyntheticBlends

CFS has started focusing on this segment recently and intends to gain market share

Productportfolioincludingproductsinanimalnutritionsegmentacquiredaspartof
acquisitionofDresen,Mexico

Key initiatives in blending business


Product development CFS has developed blends tailored to needs of specific industries/ clients under the brand name Xtendra and NaSure (plant
based antioxidant products)
Sales and Marketing
gp
push Training
g and addition to marketing
g team with specialized
p
product knowledge
p
g
Applications lab Application labs have been set up across various locations
Local reach across the globe through acquisitions, organic growth
Entryintoblends increasestheaddressablemarketinantioxidantbusinessmultifold

18

ScaleVanillinbusiness
FocusonandgrowtheVanillinbusiness
Vanillaflavor/fragrance
(naturalandsynthetic)

NaturalVanilla

SyntheticVanilla

ExONCBprocess

Excatecholprocess

(potentiallycarcinogenic;lesscosteffective;higher
pollution)

(preferredmanufacturingroute;constrainedby
availabilityofCatechol)

Fragmentedmarket

DominatedbyplayerswithaccesstoCatechol
Vanillin

EthylVanillin

Key initiatives in Vanillin business


Process patent for conversion of Catechol to Guaiacol which is an intermediate compound to Vanillin (applied for )
Proposed plant at Dahej will add capacity for manufacturing of Vanillin and Ethyl Vanillin
Key USP offered by CFS
Vanillin manufactured through excatechol process; complete traceability of raw material

CFS,withaccesstoCatechol, issettingupown/contractmanufacturingcapacitytomanufactureVanillinandEthylVanillin

19

Increasedrevenuecontributionfromperformancechemicalsbusiness
Performancechemicalspresentalargeopportunity
Revenuecontributionfromperformance chemicalshasincreasedover
thelast2years

and CFSisimplementingplanstokeepgrowingatafastpace

0.6% 1%

Key initiatives in performance chemicals business


Deeper marketing penetration by adding distribution channels in new
geographies

Antioxidants
13%

29%

FY14
FY14
Revenues

Diphenols

Create distribution hubs in keyy markets like North America,, Asia and
Latin America and leverage on its presence in these markets

Performance Chemicals
PerformanceChemicals
57%

Aroma

R&D labs at various stages of development of derivatives of diphenols


and process engineering to improve commercial viability of certain
other products

Otherproducts

Hired senior level team across key geographies


Key USP offered by CFS
Fully integrated operations reduce supply chain risks
3% 1%

Offers complete traceability of raw material


Antioxidants
Diphenols

22%
FY16
Revenues
18%

PerformanceChemicals
56%

Aroma
Otherproducts

CFSaimstogrowtheportfoliotoincreaseitsmarketshareinperformancechemicals
Note:PC PerformanceChemicals

20

LeverageMexicoacquisitiontoexpandpresence&productbasket
MexicoacquisitionofferssignificantsynergieswithCFS
Abouttheacquisition

US$000s

CY14

CY15

CFS,
CFS through
th
h a WOS,
WOS acquired
i d 65% off Dresen
D
Q i i for
Quimica
f a consideration
id ti off USD 7.8mn
78

N tS l
NetSales

14 799
14,799

16 458
16,458

975

2,012

6.6%

12.2%

1,283

2,625

8.7%

16.0%

6,563

7,889

The company was acquired alongwith its group companies as under:


Inustrias Petrotec de Mexico (Mexico)
Nuvel, S.A.C (Peru)

Operating Profit%

Britec, S.A. (Guatemala)

PBT

Inovel, S.A.S (Colombia)


Grinel, S.A. (Dominican Republic)

PBT%

The transaction was completed earlier in May and full impact of the same will be visible in quarter
ended September 30, 2016

AboutDresen
Leading
Central
American
company
engaged
research,
h development,
d l
manufacture
f
and
d sale
l off specialty
l chemicals
h
l

OperatingProfit

NetWorth

Potential synergieswithCFS
in

Crosssell products Dresen has a well regarded animal nutrition business and CFS
willll market
k the
h same across other
h geographies;
h
similarly
l l CFS products
d
can be
b
marketed by Dresen

the

Organized in two main business segments:

Improved vertical integration Dresen uses the diphenols as raw materials; the
acquisition helps Dresen secure raw material and secures supply contracts for CFS

Animal
Feed
and
Human
Food
segment

manufactures
adsorbents, antioxidants, bactericides, binders, mold inhibitors and acidifying
agents; one of the larger suppliers in its key markets

Improved margins for CFS on account of higher value addition done by Dresen
Improved geographical reach to service global MNCs locally

Industrial Products segment


Operations across Mexico, Central America and parts of Latin America

Technical knowhow in animal nutrition which can be leveraged across the CFS group
to provide better products and services to customer
Strategically located manufacturing facility

MexicoofferssignificantsynergieswithCFSandcanimproveCFSproductbasket,geographicalreachandprofileamongstpotentialcustomers

21

ProposedexpansionatDahejplant
KeycharacteristicsoftheproposedplantatDahej
Particulars

Details

Productparticulars

Capacity

Proposedarea fortheplant

DahejSEZ,Gujarat

Landarea

67,507squaremeters

Overallplant
(current thoughtprocess)

Expectedlocationadvantages

Expected commissioning
Expectedcommissioning

Availabilityofkeyrawmaterialsinvicinity
Situatednearportsandgoodconnectivity
Goodinfrastructure
Conduciveforfutureexpansion
Advantageousfortaxandexcisebenefits asit
isinaSEZ
Commoneffluenttreatment plant

HQanditsderivatives
Catecholanditsderivatives
Vanillin

ProposedCapacityforkey products
Product

HQ 9,000MTPA
Catechol/Vanillin 6,000MTPA

FY18

Expectedyearofcommercial FY19
production
Status ofproject

Basic engineeringcompleted;Detailed
g
g g g
engineeringongoing
Environmentapproval Awaited

TheplantatDahejwillexpandcapacitiesandprovideCFSwithabasetomanufactureHQ,CatecholandVanillininIndia

22

Annexure

23

CamlinFineSciences(CFS)|Aquickintroduction
CompanyOverview

CFS is a global player in shelflife solution chemistry

Q and BHA
One of the leadingg manufacturers of TBHQ

NetSales

Global reach through manufacturing plants across India, Europe, Latin America with customers across
key markets

EBITDA

Summaryfinancials(INRmn)

Marquee client base; enduses across Food, Pet food, Animal feed, Vanillin and Performance Chem.

Vertically integrated company in the chemistry it operates in manufacturers (including contract


manufacturing) entire chain of antioxidants, blends, Vanillin and Performance Chemicals derived from
Phenol
The company was demerged from Camlin Limited (erstwhile group company) and listed on Indian
exchanges in 2006

Sharepriceperformance CFS1

Shareholding(asatMarch31,2016)

130

PAT%
NetWorth
NetDebt2

100

Promoters

90

InstiInvestors

80

FY15

FY16

5,087

5,583

4,893

713

925

961

13.8%

16.2%

19.1%

287

550

358

5.6%

9.6%

7.1%

933

1,349

1,762

1,341

1,407

1,4833

Otherdetails
Fitch : LT Ind A; ST Ind A1

Bankers to the IDBI Bank, Bank of India, OBC,


Company
SBI, SBT, EXIM Bank, SBP

39 8%
39.8%

110

Auditors

M/s. B.K. Khare & Co.

Exchanges listed

Others

70
60

Market Cap1

55.7%

50

PAT

Credit Rating

120

Jan15

EBITDA%

FY14

4.5%
May15

Sep15

Jan16

May16

DatafromBSELtd.asonMay22,2016

2NetDebtforFY14andFY15includescurrentportionofLTDebt

DuringtheFY16thereisachargeforINR45.47mnduetoshortreceiptofinsuranceclaimrelatingtoafirewhichoccurredduringFY14
EBITDAincludesotherIncome.Marginsarecalculatedongrossbasis
SBT StateBankofTravancore;SBI StateBankofIndia;SBP StateBankofPatiala;OBC OrientalBankofCommerce
24

INR 9,100mn

52 wk. high/ low1 INR 128.8/ INR 76.1

Thestorysofar

2016

2015

2014

2012

2011

2009

2006

Acquisition of 65% stake in Dresen Quimica S.A.P.I.de C.V., Mexico along with its 5
subsidiaries in Mexico, Peru, Guatemala, Columbia and Dominican Republic

The acquisition has helped the company to expand its market reach in Central and
South America and parts of Latin America

ListedontheNationalStockExchange

ForayedintoblendsbusinessinUSA

Startedmanufacturing&marketingofcustomizedblendsinTarapurandBrazil

SetupApplicationlaboratoriesfullysupportedbyanexperiencedtechnicalteam

LaunchedAromaandFlavoringCompounds Vanillin/EthylVanillin

AcquiredCFSEuropeS.p.A

BecameanintegratedmanufacturerofDiphenols

LaunchedawiderangeofPerformanceChemicalslikeMEHQ,Veratrole,Guaiacoletc.

Becamesignificantproduceroffoodantioxidantsglobally:TBHQ&BHA

PartofCamlinGroup,namechangedtoCamlinFineChemicalsPvt.ltd

BecameapubliclimitedCompany(CFCL)

DemergedfromCamlinLimitedandlistedontheBombayStockExchange

25

Currententitystructure
CamlinFineSciencesLtd.

100%
CFCLMauritiusPvt.Ltd.
(Mauritius Holdco.)

100%

100%
CFSdoBrasilIndstria,
Comrcio,ImportaoE
ExportaoDeAditivos
Alimentcios Ltd (Brazil)
AlimentciosLtd.(Brazil)
SubsidiaryinBrazilfor
manufacturingand
marketingofblends

100%

100%

CFSNorthAmericaLLC.
(U.S.A.)

SolentusNorthAmerica
Inc.(Canada)

SubsidiaryinUSAfor
manufacturingand
marketingofblends

SubsidiaryinCanadafor
marketingofblends

100%
CFSAntioxidantesDe
MexicoS.A.DeC.V
(Mexico HoldCo.)

100%
CFSInternationalTrading
(Shanghai)Ltd.
(China)

65%
DresenQuimicaS.A.P.l.
deC.V.(Mexico)

CFS Europe SPA (Italy)


CFSEuropeSPA.(Italy)
Stepdown subsidiary in
Italy,
Ravenna
for
manufacturing of HQ and
Catechol
100%
Industrias
PetrotecdeMexico,S.A.
deC.V.(Mexico)

100%

100%

Nuvel,S.A.C
(Peru)

Britec,S.A
(Guatemala)

Parentcompany
Subsidiaries/Stepdownsubsidiaries
StepdownsubsidiariespursuanttoMexicoacquisition

26

100%
lnovel,S.A.S.
(Columbia)

100%
Grinel,S.A
(DominicanRepublic)

ReputedDirectorsontheBoard
DilipD.Dandekar
Chairman&Non
ExecutiveDirector

An experienced industrialist, he has been actively involved in providing


guidance for framing business policies & overseeing the all round
progress of the Company
Rich experience with various industrial bodies, he is also a chairman of
Kokuyo Camlin Limited, Honorary Consul of Consulate of
Mongolia, Mumbai and a member of executive committee of FICCI

PramodM.Sapre

Long and varied experience in the field of marketing of pharmaceutical


products

IndependentDirector

Has been associated with the company since 2006


Holds a B.Sc and Diploma in Marketing Management
Associated with the company since 2006, he has around 5 decades of
rich experience across various roles

Wide experience of over 3 decades in pharma and fine chemical


products
AshishS.Dandekar
ManagingDirector

SharadM.Kulkarni

Experienced in different departments like business planning,


information systems, R&D, product development and marketing

IndependentDirector

Holds B.A. in Economics and Management Studies from Temple


U i
University,
it USA

Leena Dandekar
WholetimeDirector

Previously has been CEO and President of major corporates; currently


acts as a business advisor and management consultant to several
Indian and international companies
Holds a B.E. Engineering, from University of Pune and is a Fellow of the
Institute of Engineers, India

Wide experience of over 2 decades in the field of Finance, Systems, ERP


implementation, HR and Administration

BhargavA.Patel

An industrialist with wide experience in the field of Engineering, Textile


Machinery and Leather industry

Holds a B. A. in Economics and M.M.S from university of Mumbai

IndependentDirector

Has been associated with the company since 2009


Holds an M.B.A. from a US University

DattatrayaR.Puranik
ExecutiveDirector&CFO

Has around 30 years of experience in


accounting in India and abroad

the field of finance and

Has been the CFO of the Company since 2008 and Executive Director
and CFO since 2012

AbeezarE.Faizullabhoy
IndependentDirector

Holds a B.Com (Hons.), FICWA, ACMA (Australia) and MBA (Finance)

NirmalV.Momaya
NonExecutiveDirector

AjitS.Deshmukh
NonExecutiveDirector

Presently a Partner with HSA Advocates, he has held leadership


positions in various organizations in the past including CEO of Aditya
Resources DMCC and a partner with J.Sagar & Associates
Has been associated with the company since 2006
Holds a Bachelor of Law from University of Mumbai and is a Solicitor
from Bombay law society

Over 25 years of experience in finance, taxation, audit and


management consultancy
Founder of Pagoda Advisors, with a focus on consulting for various
businesses like chemicals, healthcare, pharma, QSR, FMCG etc.

AtulR.Pradhan

Holds a B.com and is a qualified Chartered Accountant

IndependentDirector

Management consultant with over 25 years of professional experience


in consulting and across various industries
Founder of Transfolign Consulting LLP; Previously, Managing Partner of
KPMG and founding Managing Director of Techsignia Solutions
Holds an MBA and a diploma in Electronics & Electrical Engineering

20+ years of management and leadership experience in IT and


investment banking; Has handled technology leadership positions at
Citigroup and US Dept. of Defense
15+ years of experience as a successful entrepreneur in IT and financial
services

NicolaA.Paglietti
IndependentDirector

Post Graduate from NCST and B.E.


B E in Electronics from Mumbai
University

27

Over 2 decades of professional experience , specializes in


corporate, banking laws and is an expert in privatizations
One of the founding partners of law firm Studio Internazionale, Rome
Holds a Masters in Law and is a member of the Bar of New York and
Rome

Productvaluechain
Valuechainofkeyproducts
Phenol

Hydroquinone

AscorbicAcid

Ascorbyl
Palmitate

TBHQ

BHA

MEHQ

Catechol

Other
derivativesof
HQ
Q

Blends

28

Veratrole

Guethol

Guaiacol

EthylVanillin

Vanillin

Other
derivativesof
Catechol
Catec
o

Profit&LossSnapshot(consolidated)
Particulars(INRmn)

FY12A

FY13A

FY14A

FY15A

FY16A

3,352

3,736

5,087

5,583

4,893

11.5%

36.1%

9.8%

(12.3%)

CostofMaterialsConsumed

1,675

1,646

2,757

2,705

2,031

EmployeeBenefitExpenses

243

302

344

406

410

1,141

1,318

1,369

1,630

1,534

ProfitfromOperationsbeforeOtherIncome,Dep.Interest&Exceptional Item

293

470

616

842

918

Add: OtherIncome(Expenses)

116

102

97

84

43

EBITDA

409

572

713

925

961

12.0%

14.9%

13.8%

16.2%

19.1%

Less:Depreciationandamortizationexpenses

135

136

118

162

171

OperatingProfit(EBIT)beforeexceptionalitems

274

436

595

763

790

Financecosts

167

201

247

238

244

p
ProfitBeforeTaxesbeforeexceptionalitems

107

235

349

525

546

(1)

(4)

451

108

235

349

528

500

Less:IncomeTaxExpense

69

84

61

(22)

142

Net Profit for the period


NetProfitfortheperiod

39
39

151
151

287
287

550
550

358
358

Profit&LossfromAssociates

(1)

(0)

(0)

(0)

(0)

NetIncomeAfterMinorities

38

151

287

550

358

NetRevenuefromoperations
Salesgrowth%
Less: Expenses
Less:Expenses

OtherExpenses

EBITDAMargin%

Less:ExceptionalItems
ProfitfromOrdinaryActivitiesbeforetax

DuringtheFY16thereisachargeforINR45.47mnduetoshortreceiptofinsuranceclaimrelatingtoafirewhichoccurredduringFY14

29

BalanceSheet(consolidated)
Particulars(INRmn)

FY12A

FY13A

FY14A

FY15A

FY16A

529

654

933

1,349

1,762

Long Term Debt


LongTermDebt

330
330

377
377

285
285

281
281

214
214

Short TermDebt

885

795

1,040

1,210

1,457

33

31

(40)

52

51

AccountsPayable

872

1,575

1,000

1,066

953

OtherCurrentLiabilities(includingcurrentmaturities ofLTDebt)

206

263

428

340

389

2,856

3,695

3,647

4,297

4,827

761

840

1,052

1,092

1,653

26

22

27

217

176

Inventory

844

1,490

1,092

1,364

1,733

AccountsReceivable

902

871

,
1,013

1,134
,

755

LoansandAdvancesandOtherCurrentAssets

222

214

304

296

320

CashandCashEquivalents

102

257

158

193

189

TotalApplicationofFunds

2,856

3,695

3,647

4,297

4,827

NetWorth
Debt

OtherLongTermLiabilities
Currentliabilities

TotalLiabilitiesandEquity
NetFixedAssets
OtherLongTermAssets
CurrentAssets

30

Glossaryofterms
Termsused

Inference

HQ

Hydroquinone

TBHQ

TertiaryButylHydroquinone

BHA

ButylatedHydroxyanisole

ODEB

OrthoDiethoxyBenzene

MEHQ

HydroquinoneMonoMethylEther

ASP

AscorbylPalmitate

ONCB

OrthoNitroChloroBenzene

BHT

Butylated HydroxyToluene

PC

PerformanceChemicals

US$

USDollar

INR

IndianRupee

mn/Mn

Million

CAGR

CompoundedAnnualGrowthRate

FY

12monthsendingMarch31ofthementionedyear

CY

12monthsending December31ofthementionedyear

MTPA

MetricTonnesPerAnnum

Di h
Diphenols
l

HQ d Catechol
HQand
C
h l

31

Thankyou

32