Carysil Limited · NSE:CARYSIL
Carysil — Acrysil — H1 FY20 Earnings Presentation
33 slides from Carysil's earnings presentation, November 2019
Slide 1: Leader in Lifestyle Kitchen Products
Leader in Lifestyle Kitchen Products November 2019
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Acrysil Limited. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,
Slide 3: Q2 & H1 FY20 Highlights
Q2 & H1 FY20 Highlights
Slide 4: Highest Ever Half-Yearly Performance
Highest Ever Half-Yearly Performance Rs. Crores Revenue Domestic Revenue EBITDA PAT After MI +9.6% 251.6 55% of FY19 40.4 61% of FY19 17.2 66% of FY19 40.4 Achieved Achieved 36.9 Achieved H2 127.6 H2 19.4 H2 7.2 +16.4% +13.1% +11.9% 138.7 H1 24.4 H1 10.0 11.4 H1 124.0 21.0 FY19 H1FY20 H1FY19 H1FY20
Slide 5: Consistent Growth
Consistent Growth Rs. Crores Revenue EBITDA PAT After MI +10.6% +14.1% -2.0% 68.0 70.7 12.2 12.2 5.7 5.8 5.6 63.9 62.2 65.3 10.7 60.2 10.3 10.3 9.1 4.3 4.2 3.0 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Q1FY19 Q2FY19 Q3FY19 Q4FY19 Q1FY20 Q2FY20 Domestic Reven
Slide 6: Performance Highlights
Performance Highlights Rs. Crores Revenue EBITDA +18.8% 252 +16.8% 40 181 197 174 29 139 24 26 26 24 127 106 19 FY14 FY15 FY16 FY17* FY18* FY19* H1FY20* FY14 FY15 FY16 FY17* FY18* FY19* H1FY20* PAT After MI Cash PAT After MI +17.4% 17 +15.6% 26 12 19 11 11 16 17 9 8 13 13 14 8 FY14 FY15 FY16 FY17* F
Slide 7: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue FY19 Export 13% 72% Domestic 29% 71% 15% Quartz Sink Steel Sink Appliances & Others H1FY20 5% 95% 12% 73% Strengthening 16% ‘Carysil’ Brand Quartz Sink Steel Sink Appliances & Others 7 Consolidated Financials
Slide 8: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q2FY20 Q2FY19 Y-o-Y Q1FY19 Q-o-Q H1FY20 H1FY19 Y-o-Y Revenue 70.7 63.9 10.7% 68.0 3.9% 138.7 124.1 11.8% Raw Material 29.5 28.0 29.4 58.9 54.2 Employee Expenses 5.4 4.6 5.2 10.6 9.0 Other Expenses 23.6 20.6 21.2 44.8 39.9 EBITDA 12.2 10.7 14.2% 12.2
Slide 9: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Sep-19 Mar-19 Liabilities (Rs. Crs.) Sep-19 Mar-19 Non-current assets 133.8 126.7 Total Equity 146.2 136.5 Property Plant & Equipment 97.2 94.2 Share capital 5.2 5.2 Goodwill 23.5 23.5 Other Equity 137.7 127.7 Intangible Assets 4.2 1.8 Minority Interest 1
Slide 10: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Sep-19 Mar-19 Net Profit Before Tax 15.5 13.7 Adjustments for: Non-Cash Items / Other Investment or Financial Items -5.6 -6.8 Operating profit before working capital changes 9.9 6.9 Changes in working capital 0.7 -8.5 Cash generated from Operat
Slide 11: Strengthening "STERNHAGEN" Brand
Strengthening “STERNHAGEN” Brand “Unveiling the new Rose Gold collection of Premium Sanitary ware and Bath fittings” 11
Slide 12: Business Overview
Business Overview
Slide 13: Numero Uno Position
Numero Uno Position India’s 1st state of art Show Room Only manufacturer in India & cum Experience Center in Exclusive product galleries for Asia in Quartz Sink Ahmedabad & Mumbai ‘Carysil’ Certification for ISO 9001:2008, ISO Quartz Sink Capacity : 500,000 sinks Brands - “CARYSIL” & per annum in FY
Slide 14: Acrysil – Over the Years
Acrysil – Over the Years Today, Acrysil is India’s only indigenous brand of kitchen sinks made of Quartz 2019 Started 2018 Entered into commercial an agreement Production of 2017 for Supply of Stainless steel Technical Tie- Acrysil started up with Quartz sinks through its first 2014 Nextship, a Kitc
Slide 15: Pillars of Integrated Business
Pillars of Integrated Business Brand Manufacturing Facilities & Technology ▪ Brand promotion on TV and in print, along with exposure ▪ Quartz Sinks: 500,000 pa , Stainless Steel : 75,000 pa and through sponsorship of events like Times Food and Appliances : 7,000 pa MasterChef Australia ▪ Enjoy in-ho
Slide 16: Increasing Product Portfolio
Increasing Product Portfolio Product Segment Kitchen Bathroom Suits Bath Sinks Appliances Fittings APPLIANCES 16
Slide 17: Sinks
Sinks
Slide 18: Only Company to Make Quartz Sinks in Asia
Only Company to make Quartz Sinks in Asia Capacity of Quartz Sinks (per annum) The only company in all of Asia and among a few companies worldwide: High Margin manufacturing quartz kitchen sinks to global standards of Product quality, durability and visual appeal 5,00,000 4,00,000 3,25,000 Asset Tur
Slide 19: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 15% to Consolidated revenue Production Capacity : 75,000 sinks per annum Quadro (Designer) Sinks: 100% Utilization Press Steel Sinks: 65% utilization Target Market for Quadro (Designer) Sinks: Caters to high end
Slide 20: Kitchen Appliances
Kitchen Appliances
Slide 21: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Poised to become a significant player in the overall Kitchen Segment: Manufacturing and Trading of Appliances Chimneys Dish Washer Cook Tops Expansion of Appliances Range Currently Constant Innovation, Research, contributing ~8% Development & Design
Slide 22: Bath Segment
Bath Segment
Slide 23: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology Achievements Won 52 international awards, among them the Red Dot Award (Best of the Best) ✓ Brand owned by Acrysil’s Wholly owned Subsidiary in Germany, ‘Acrysil Synergy GmbH’ Synergy in Quartz Sink Technology helped in developing patented
Slide 24: Products with Global Standards sold in 50+ Countries
Products with Global Standards sold in 50+ Countries Company presently exports to over 50 countries. Plan to expand further by acquiring new customers and penetrating in new geographies Sales Network Global Offices 24 Map not to scale. All data, information and maps are provided “as is” without warr
Slide 25: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands Dealer Network 1500 1300 1200 800 550 400 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 Distributor Network 80 82 65 60 ARABIAN BAY OF 45 SEA BENGAL 30 Sales Distributor 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 25 Map not to scale. All data, i
Slide 26: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Input Processing Output Variety of Moulds Production Capacity ▪ Has more than 120 moulds 500,000 units per ▪ 350+ SKU’s annum All the Moulds are imported Place: Bhavnagar, Gujarat Purchase of Moulds A Mould can be Made as per the utilized for 15+ year
Slide 27: Presence in UK through "Homestyle"
Presence in UK through “Homestyle” Acrysil is the holding Company and has 98.75% of HomeStyle (UK) Revenues (Mn. GBP) Purchased 75% stake in Homestyle in June 2014 for ~Rs. 26.50 crores +29% Other Traded 5.7 Products, 3% Steel Sinks, Taps & 37% 4.5 3.9 3.5 Accessories, 15% 2.0 Products sold under Ho
Slide 28: Our Distribution Model
Our Distribution Model International Domestic Strong Foothold in India STRATERGIC 65 Franchise Acquisition of Significant Presence in UK 1,500 Dealers 80 Gallery Shop Homestyle UK Limited Market (A kitchen products distribution company) 82 Distributors 5 Offices with 98.75% Stake Domestic Revenue Rs
Slide 29: Multiple Growth Drivers
Multiple Growth Drivers 01 Strong Distribution 02 Branding & 03 Huge Product Network Technology Range Short Term Strengthen the Distribution Entry into the kitchen network by tie up with Focused on capturing appliances market with Homestyle and plan to add the Brand Mindspace innovation, R&D and new
Slide 30: Board of Directors
Board of Directors Mr. Chirag A. Parekh ▪ He holds a BBA Degree from premier ' European University’ ▪ After joining the company in 1993, he successfully steered it to become one of the leading brands increasing the turnover from Rs. 3.5 Crores in 1993 to Rs. 181 crores 2017 ▪ He heads the company as
Slide 31: Awards & Certifications
Awards & Certifications Award Certificate for Manufacturing Innovation & Design If Design Award to Sternhagen SaniQ kristall wash basin FGI’s Award for ‘Best Exports Performance & Promotion’ IPF Fastest growing Manufacturing Company Award Certificate for ‘Best CSR practices’ by Rotary Club FGI’s Awa
Slide 32: Regular Dividend Payout
Regular Dividend Payout Dividend Payout 24 % 17% 26% 21% 19% 20% 27% including DDT 21.9 18.9 18.0 17.1 10.8 6.6 5.0 5.0 4.6 4.0 4.0 3.3 1.0 1.2 2013 2014 2015 2016 2017* 2018# 2019# EPS DPS 32 *EPS for FY17 is on basis of I-GAAP Financials #Adjusted for Split from Face value of Rs. 10 to Face value
Slide 33: Acrysil Limited
ACRYSIL LIMITED For further information, please contact Company : Investor Relations Advisors : Acrysil Limited Strategic Growth Advisors Private Limited CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma - CFO Ms. Neha Shroff/ Mr. Shrikant Sangani [email protected] neha.shroff@sga