Gokaldas Exports Limited · NSE:GOKEX
Gokaldas Exports — Q3 FY2023 Earnings Presentation
23 slides from Gokaldas Exports's earnings presentation, February 2023
Slide 1: Reconfigured for Growth
GOKALDAS EXPORTS LIMITED Reconfigured for Growth BSE – GOKEX | NSE – GOKEX I N V E S TO R P R E S E N TAT I O N Q3 FY 2023
Slide 2: Disclaimer
Disclaimer This investor presentation has been prepared by Gokaldas Exports Limited and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or supplied should not b
Slide 3: Table of Contents
Table of Contents 01 Management 02 Financial 03 Market Commentary Highlights Overview 04 06-12 14-16 04 About the 05 Investment Company Merits 1 8 -2 0 22 GOKALDAS EXPORTS LIMITED
Slide 4: Management Commentary
Management Commentary Resilient companies do better at the outset of a downturn and after. - Gokaldas Exports has delivered the third quarter performance with strength and resilience when the industry is encountering a challenging global macroeconomic environment. We view the long-term macroeconomic
Slide 5: Financial Highlights
Financial Highlights 06 Quar terly Highlights 08 9M Highlights 10 Financial Position 11 Investment Tracker 12 Ratio Analysis
Slide 6: Quarterly Highlights
Quarterly Highlights REVENUE EBITDA Revenue grew in the quarter and (₹ in Crores) (₹ in Crores) REVENUE remained flat (up by 0.8% YoY) compared 528.1 528.1Crores to Q3 FY22 78.4 524.1 62.8 0.8% The moderate volume and superior cost ADJ. EBITDA 1 management helped in delivering a Q3FY22 Q3FY23 Q3FY22
Slide 7: Quarterly Highlights: Consolidated Profit & Loss Summary
Quarterly Highlights Summary of Consolidated Profit & Loss Statement ₹ in Crores KEY PERFORMA N CE METRICS Q3FY22 Q2FY23 Q3FY23 YOY QOQ ADJ. PBT 1 The PBT after considering the non-cash ESOP charge of ₹6 Revenue from operations 520.6 569.7 518.9 -0.3% -8.9% 53.8 Crores Cr in the quarter, is ₹47.8 Cr
Slide 8: 9M Highlights
9M Highlights REVENUE EBITDA (₹ in Crores) (₹ in Crores) REVENUE While growth was led by capacity increase and strong execution, it was 236.5 1,717.1Crores also aided by a weak Q1FY22, 1,717.1 impacted by the second wave of COVID. Export revenue grew by 42.1% over the previous year (9M 1,213.0 FY22)
Slide 9: 9M Highlights: Consolidated Profit & Loss Summary
9M Highlights Summary of Consolidated Profit & Loss Statement ₹ in Crores KEY PERFORMA N CE METRICS 9MFY22 9MFY23 YOY ADJ. PBT 1 Revenue from operations 1,205.4 1,699.2 41.0% 165.5 Crores Increased revenue and better cost management have Other Income 7.7 17.9 138.8% resulted in healthy profit. Total
Slide 10: Financial Position
Financial Position Analysis of Consolidated Financial Position ₹ in Crores PARTICUL ARS 31 s t Dec 2021 31 s t Mar 2022 31 s t Dec 2022 Non-Current Assets Fixed Assets, capital WIP 150.8 169.1 219.3 Other non-current assets 53.0 68.5 86.7 CAPEX The company invested ₹80 Cr Total non-current assets 20
Slide 11: Continue to Invest in Business Infrastructure for Expansion and Upgradation
Continue to Invest in Business Infrastructure for Expansion and Upgradation Tentative Capital Expenditure ₹ in Crores YEAR MODERNIZATION NEW CAPACIT Y NEW TOTAL AND UPGRADES AND NEW INITIATIVES PROJECTS FY22 28 44 12 84 9M FY23 27 22 31 80 Q4 FY23e 7 10 47 64 ₹ 164 Crores OF CAPEX SINCE FY22 TILL Q3
Slide 12: Ratio Analysis
Ratio Analysis EBITDA Margin Net Debt Net Debt / Equity (In %) (₹ In Crores) (In Times) 237 204 1.48 13.8% 166 12.0% -119 0.94 9.3% 0.72 7.0% 7.4% 0.05 -340 -0.30 FY19 FY20 FY21 FY22 9MFY23 FY19 FY20 FY21 FY22 9MFY23 FY19 FY20 FY21 FY22 9MFY23 Adjusted 1 1 9M FY23, does not include ESOP Charge (non-
Slide 13: Market Overview
Market Overview 14 US Consumer Sales 15 US Apparel Impor ts 16 Inflation Impact
Slide 14: US Consumer Sales – Remains strong, may weaken in the near term
US Consumer Sales – Remains strong, may weaken in the near term US Clothing Retail Store Sales US E-com Clothing Sales (US$ Bn) (US$ Bn) 216 +7% 65 +9% +31% 60 195 +1% 196 -29% +44% 199 68 21 47 61 +11% 46 21 +8% 59 60 138 41 Q1 Q1 17 16 52 Q2 15 Q2 47 47 49 50 15 14 Q3 Q3 9 10 38 16 48 48 53 Q4 15
Slide 15: US Apparel Imports Showing growth, but could slow down
US Apparel Imports Showing growth, but could slow down in the near term US Apparel Imports Indian Apparel Exports (US$ Bn) (US$ Bn) +1% -23% +26% 93 +27% 83 84 82 +10% 17 15* 16 +3% 16 -25% +24% 15 19 4 4 21 64 4 12 23 29 4 Q1 Q1 25 17 4 4 24 Q2 4 Q2 23 3 4 19 Q3 Q3 25* 4 3 4 19 20 10 Q4 4 1 3 Q4 18
Slide 16: Inflation impact on the value chain
Inflation impact on the value chain Commodity prices started The freight Prices started correcting in the correcting 140.0 current fiscal 1.6 Freight price per container 1.4 120.0 12000 1.2 100.0 10000 1.0 80.0 8000 0.8 60.0 6000 0.6 40.0 4000 0.4 20.0 2000 0.2 0.0 0.0 0 US Cotton (US$/Pound) (LHS)
Slide 17: About the Company
About the Company 18 About Gokaldas Expor ts Limited 19 Manufacturing Prowess 20 Integrated Value Chain
Slide 18: About Gokaldas Exports Limited
About Gokaldas Fully Exports Limited 4+ decades Integrated 20+ Of manufacturing Manufacturing state-of-the-art Excellence Operations manufacturing units Sustainability focused 25,000+ 15,000+ Operations Strong workforce Operational with 80% women Machines Gokaldas Exports Limited has been a leading
Slide 19: Strong In-house Capabilities
Robust product In-house testing lab Strong In-house development and accredited by our leading customers Capabilities sampling set-up World class design studio Integrated embroidery Gokaldas Exports’ strength lies in its with 3D design capabilities set-up robust in-house capabilities which encompass
Slide 20: Integrated Value Chain
Finishing Integrated Design and logistics Value Chain Development Washing Over the years, we have enhanced our capabilities to include a vast array of processes within our manufacturing Laser Cutting set-up. Our strong presence across treatment the value chain, enables us to become the preferred par
Slide 21: Investment Merits
Investment Merits 22 Investment Merits
Slide 22: Investment Merits
Investment Merits Well diversified Globally recognized Professional Benefiting from China Incremental across geographies, vendor of complex management +1 and other industry Capacities to products and clients value-added tailwinds accelerate growth garments momentum Sustainability focused Fully integ
Slide 23: Thank You
GOKALDAS EXPORTS LIMITED C O N TA C T U S Thank GOKALDAS EXPORTS LIMITED #25, 2 nd Cross, 3 rd Main, Industrial Suburb, Yeshwanthpur, Bangalore – 560 022, Karnataka, INDIA Tel: +91 – 80 – 6895 1000 You Facsimile: +91 – 80 – 6895 1001 INVESTOR RELATIONS DIWAKAR PINGLE [email protected] BINAY S