Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q2 FY2019 Earnings Presentation
35 slides from Pidilite Industries's earnings presentation, Oct 31, 2018
Slide 1: Investor Update cover letter to exchanges
--a- Pidilite 31%1 October, 2018 The Secretary The Secretary BSE Ltd. National Stock Exchange of India Ltd. Corporate Relationship Dept., Exchange Plaza, Plot no. C/1, G Block, 14th floor, P. J. Tower, Bandra-Kurla Complex, Dalai Street. Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code
Slide 2: Investor Update: Quarter and half year ended September 2018
• „•00•••.,a._ Pidilite aullding bonds Pidilite Industries Limited Investor Update Quarter and half year ended September 2018 Financial Highlights Coverage Standalone Consolidated Particulars Quarter Half Quarter Half Year • Financial Highlights Ended Year Ended Ended • Business segment wise results
Slide 3: April – September 2018 performance
April – September 2018 Consolidated Performance as compared to the same period last year: • On a comparable basis*, net sales grew by 19.5% (excluding sales of Cyclo division of Pidilite USA Inc., which was sold by Pidilite USA Inc. in June 2017). • Material cost as a % to net sales is higher by 224
Slide 4: Segment performance and overseas subsidiaries
July - September 2018 • Net sales of Consumer & Bazaar segment grew by 11.7% whereas PBIT of Consumer & Bazaar segment declined by 5.2%. • Net sales of Industrial Products segment grew by 11.9%. PBIT of Industrial products segment grew by 28.2%. April – September 2018 • Net sales* of Consumer & Baza
Slide 5: Overseas subsidiaries performance
• Pidilite USA sales grew by 4.3% over the same quarter last year. However, sales for the half year declined by 8.5% over the same period last year due to drop in demand for adult colouring products. EBITDA for the half year has declined by 18% over the same period last year due to lower sales and c
Slide 6: Domestic subsidiaries performance
Domestic subsidiaries performance • The company has 9 domestic subsidiaries and 2 partnership firms. • The performance of major subsidiaries is detailed below. These are like for like actual reported numbers and exclude consolidation impact. Rs Crores Quarter Ended Half year ended Sales - Rs Cr Sep'
Slide 7: Standalone unaudited financial results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : [email protected] Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF STANDAL
Slide 8: Standalone unaudited segment information
---- 2 ---- STANDALONE UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2018 Rs Crores For the Six Months For the Year For the Quarter ended Sr. Particulars ended ended No. 30.09.2018 30.06.2018 30.09.2017 30.09.2018 30.09.2017 31.03.2018 Unaudited Unaudited Unaudited Unaudit
Slide 9: Standalone statement of assets and liabilities
---3--- STANDALONE UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2018 Rs Crores As at As at Sr Particulars 30.09.2018 31.03.2018 No Unaudited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 662.84 656.62 (b) Capital Work-In-Progress 177.53 164.13 (c) Goodwill 86.1
Slide 10: Notes to the Standalone Financial Results
---- 4 ---- Notes to the Standalone Financial Results: r 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 30th October 2018. r 2. The Company has opted to publish Standalone as well as Consolidated Financial Results. The S
Slide 11: Consolidated unaudited financial results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : [email protected] Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF CONSOLI
Slide 12: Consolidated unaudited segment information
---- 2 ---- CONSOLIDATED UNAUDITED SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2018 Rs Crores For the Six Months For the Year For the Quarter ended Sr. Particulars ended ended No. 30.09.2018 30.06.2018 30.09.2017 30.09.2018 30.09.2017 31.03.2018 Unaudited Unaudited Unaudited Unaud
Slide 13: Consolidated statement of assets and liabilities
---3--- CONSOLIDATED UNAUDITED STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2018 Rs Crores As at As at Sr No Particulars 30.09.2018 31.03.2018 Unaudited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 889.57 802.59 (b) Capital Work-In-Progress 198.54 227.73 (c) Goodwill 18
Slide 14: Notes to the Consolidated Financial Results
---- 4 ---- Notes to the Consolidated Financial Results: 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 30th October 2018. 2. The Company has opted to publish Standalone as well as Consolidated Financial Results. The abo
Slide 15: Q2FY19 Earnings Presentation
Pidilite Pidilite Industries Industries Ltd. Ltd. Q2FY19 Q2FY19 Earnings Earnings Presentation Presentation
Slide 16: Disclaimer
Disclaimer ,I,lowniming, Pidilite This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from th
Slide 17: Financial Highlights
Financial Highlights Financial Highlights
Slide 18: Q2FY19 Earnings Summary
Q2FY19 Earnings Q2FY19 Summary Earnings Summary ** EBITDA is ** EBITDA before non is before operating income non operating income Industries Limited Pidilite Industries Pidilite Limited 4 4
Slide 19: H1FY19 Earnings Summary
H1FY19 H1FY19 Earnings Summary Earnings Summary ## On On Comparable Comparable basis basis after after reflecting reflecting accounting accounting impact impact of of GST GST *Net Sales is *Net Sales is excluding Cyclo excluding Cyclo ** ** EBITDA EBITDA is is before before non non operating operati
Slide 20: Comments on Financial Performance
Comments on Financial Performance ,I,lowniming, Pidilite Standalone • Net Sales grew by 11.9% in Q2. • EBITDA, before non-operating income, at Rs 349 Cr declined by 6.5% in Q2, given the input cost led contraction in gross margins by 3.6% and higher A&SP spends. Consolidated • Net Sales grew by 15.5
Slide 21: Q2FY19 Overseas Subsidiaries Performance
Q2FY19 Overseas Subsidiaries Performance Aigoomma, Pidilite 40 Sales (in INR Crores) 26.4 27.5 23.3 23.7 21.5 20.8 22.0 20 18.0 13.0 12.7 9.6 8.4 8.5 7.2 2.0 2.1 0 I North South Bangaldesh Srilanka Thailand Egypt UAE Others America America .Q2, FY 2017-18 .Q2, FY 2018-19 4 3.0 3.2 3 2 1.6 1.1 0.8 -
Slide 22: H1FY19 Overseas Subsidiaries Performance
H1FY19 Overseas Subsidiaries Performance Aigoomma Pidilite 160 140 Sales (in INR Crores) 120 100 80 60.2 60 55.1 47.8 46.1 I 41.3 41.7 40.9 41.1 40 24.9 25.4 20 14.0 17.0 14.6 16.1 4.1 4.2 0 North South Bangaldesh Srilanka Thailand Egypt UAE Others America America .H1 FY 2017-18 .H1 FY 2018-19 10 8.
Slide 23: Q2FY19 Domestic Subsidiaries Performance
Q2FY19 Domestic Subsidiaries Performance ,rnommits..„ Pidilite 59.6 60 Sales (in INR Crores) 44.3 40 34.5 33.4 35.6 20 14.4 15.6 12.2 10.0 0 Nina Waterproofing Percept ICA Pidilite Pvt Ltd Cipy Polyurethane Pvt Others Systems Pvt Ltd Waterproofing Ltd Services Ltd Q2, FY 2017-18 Q2, FY 2018-19 5 4.7
Slide 24: H1FY19 Domestic Subsidiaries Performance
H1FY19 Domestic Subsidiaries Performance ,I,lowniming, Pidilite 119.7 120 Sales (in INR Crores) 100 80.8 81.4 80 73.1 59.6 60 40 30.8 33.7 24.2 24.0 20 0 Nina Waterproofing Percept ICA Pidilite Pvt Ltd Cipy Polyurethane Others Systems Pvt Ltd Waterproofing Pvt Ltd Services Ltd H1 FY 2017-18 H1 FY 20
Slide 25: Company Overview
Company Overview Company Overview
Slide 26: Company Overview
Company Overview A osioni Pidilite . Brand established in 1959. 8 Regional offices with 23 plants and Pioneer in Consumer and 23 co-makers in India Specialty Chemicals • International manufacturing facilities in USA, Thailand, Dubai, Adhesives & sealants, Brazil, Egypt, Singapore, Bangladesh constru
Slide 27: Industry Segment Composition
Industry Segment Composition ,40mmits, Pidilite Industrial Resins (5%) Pigment & Preparation ON \• */ .-Others (1%) Industrial Adhesives (4%) Art/Craft Materials & Others [9%} IP • .II A / 15% N C&B 84% Construction/ • Paint Chemicals (2 0 °A) Adhesives & • Sealants (55%) C&B - Consumer & Bazaar, IP
Slide 28: 5-Year Performance by Business Segments
5-Year Performance by Business Segments ,0•Iimilmt.,, Pidilite Numbers represent Percentage of Total Sales Consumer and Bazaar Products Industrial Products IP includes Others also 85% 20% 19% 84% 84% 84% 18% 18% 17% 83% 83% 16% 16% 16% 82% 82% 81% 14% 81% 12% 80% 79% 10% 2013-14 2014-15 2015-16 2016
Slide 29: Domestic Presence – India operations
Domestic Presence – India operations A•iiiimins,,,, Pidilite • 5200+ SKUs of 500+ products • 4,900+ distributors • Gross Turnover (domestic) of Rs. 5,382 Cr • 26 warehouses for FY18 • 8 regional offices & RDCs • plants, Co-makers Pidilite Industries Limited 15
Slide 30: Global Presence
Global Presence A0000PE Pidilite • Exports to more than 80 countries. Major exports to Middle East, Africa, USA & Europe. • Export Turnover of Rs. 519 Cr in FY18. • 18 Overseas subsidiaries - 6 Direct and 12 Step down. 1 Joint Venture. • Total revenue from Overseas subsidiaries of Rs. 491 Cr in FY18
Slide 31: Marketing/ Advertising
Marketing/ Advertising Pidilite • Consistent and effective brand building activities across various categories (a) Consumer Adhesives & Sealants (b) Craftsmen Adhesives (c) Waterproofing Chemicals (d) Hobby & Craft Colours • Several of the brands are well-known in respective categories (Fevicol, Fev
Slide 32: Shareholding Pattern as of September 30, 2018
•■ ■ Shareholding Pattern as of September 30, 2018 11.87% 3.63% Pidilite Industries Limited 14.76% 69.74% Promoters Mutual Funds FPIs Others ,I,lowniming, Pidilite 18
Slide 33: Share Price Movement
Share Price Movement Aigoomma, Pidilite Pidilite Sensex 155 145 135 125 115 105 95 85 75 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Rebased to 100 Pidilite Industries Limited 19
Slide 34: Backed by consistent dividend payouts
Backed by consistent dividend payouts ,0•Iimilmt.,, Pidilite 50% 40% 38.4% 34.1% 34.4% 33.1% 33.8% 30% 20% 10% 0% FY14 FY15 FY16 FY17 FY18 Note : The company transitioned into IND AS from 01.04.2015 Dividend payaout % is on standalone results Pidilite Industries Limited 20
Slide 35: Investor Contacts
Investor Contacts ,oilommits..„ Pidilite e Investor Relations - [email protected] Manisha Shetty, Additional Company Secretary Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Pidilite Andheri (E), Mumbai - 400 059. Phone : +91 22 67697000 CIN : L24100MH1969PLC014336 Fax : +91 22
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