Stove Kraft Ltd. · NSE:STOVEKRAFT
Stove Kraft — Q2 & H1 FY24 Earnings Presentation
30 slides from Stove Kraft's earnings presentation, Nov 8, 2023
Slide 1: Exchange filing cover letter for investor presentation
08 November 2023 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543260 NSE Symbol: STOVEKRAFT Dear Sir/Madam, Sub: Investor Presentation fo
Slide 2: Stove Kraft Limited Q2 & H1FY24 Investor Presentation
STOVE KRAFT LIMITED Q2 & H1FY24 INVESTOR PRESENTATION
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Stove Kraft Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or induce
Slide 4: Q2 & H1FY24 Financial Performance
“ ” The only way to do great work is to love what you do - Steve Jobs Q2 & H1FY24 FINANCIAL PERFORMANCE
Slide 5: Q2 FY24 Performance (Q-o-Q)
Q2 FY24 Performance (Q-o-Q) Q2FY24 Q2FY24 Q2FY24 Q2FY24 Revenues Gross Profit EBITDA PAT INR 379.8 crores INR 134.1 crores INR 39.9 crores INR 16.5 crores +27.5% +22.0% +66.7% +101.6% Q2 FY24 growth in Product Category Revenue Breakup: Q2 FY24 Growth Growth Product Category (Q-o-Q) (Y-o-Y) 23.0% ➢ C
Slide 6: H1 FY24 Performance (Y-o-Y)
H1 FY24 Performance (Y-o-Y) H1FY24 H1FY24 H1FY24 H1FY24 Gross Profit EBITDA PAT Revenues INR 244.0 crores INR 63.9 crores INR 24.7 crores INR 677.5 crores +9.7% -5.5% -27.2% -0.6% H1 FY24 growth in Product Category Revenue Breakup: H1 FY24 Y-o-Y Product Category Growth 22.0% ➢ Cooker -7.5% 35.0% ➢ I
Slide 7: Profit & Loss Statement – Q2 & H1 FY24
Profit & Loss Statement – Q2 & H1 FY24 Profit & Loss Statement (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue from Operations 379.8 406.2 -6.5% 297.7 27.5% 677.5 681.3 -0.6% Cost of Materials Consumed 227.6 215.2 182.7 410.3 385.0 Purchase of stock-in-trade 19.3 51.4 26.7
Slide 8: Balance Sheet as on 30th Sep 2023
Balance Sheet as on 30th Sep 2023 Equity and Liabilities (Rs. Crs.) 30-Sep-23 31-Mar-23 Assets (Rs. Crs.) 30-Sep-23 31-Mar-23 Equity share capital 33.0 33.0 Property, plant and equipment 374.6 362.4 Other equity 395.5 370.3 Capital work-in-progress 12.4 9.5 Total Equity 428.5 403.4 Intangible Assets
Slide 9: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sep-23 Sep-22 Cash Flow from Operating Activities Profit before Tax 33.4 45.1 Adjustment for Non-Operating Items 37.5 25.3 Operating Profit before Working Capital Changes 70.9 70.4 Changes in Working Capital 24.6 (7.6) Cash Generated from Operations
Slide 10: Updates on Exclusive Retail Channel
Updates on Exclusive Retail Channel Plan to enter new states (across India) as we continuously strengthen our presence in South India. This will help Brand in reaching out to new territories and customers…! 106 47,896 101,682 ₹ 4.01 Stores units sold Lacs per store/ Month 106 Stores operational in N
Slide 11: New Products
New Products Induction Cooktop- New Range of Pressure Cooker: New Range of Pressure Induction Cooktops with 7 segment Complete range Steam Knives- Rust Resistance Blade with non slip soft touch Cookers with multi-utility & better LED Display for Power & Irons, dry irons & Hand handle for healthy & s
Slide 12: New Products
New Products Pigeon OTG cum Air Fryer comes Pigeon Slo-jo Cold Press Juicer Elegant design for your beautiful Pigeon Stylo Rice Cooker comes with unique Slow Squeezing kitchen with 60 Minutes timer with Stainless Steel Pot with Technology ,Hygienic and with auto turn-off & alarm bell sandwich bottom
Slide 13: New Manufacturing Units Commenced in HY
New Manufacturing Units Commenced in HY 1 ERC Plant Capacity- 24 Lacs p.a. Air Fryer Plant capacity- 12 Lacs p.a. SS Cooker Plant Capacity- 12 Lacs p.a. Kettle & Bottle Plant Iron Plant Capacity – 45 lacs p.a. Capacity- 15 Lacs p.a. 12
Slide 14: About Stove Kraft Limited
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill ABOUT STOVE KRAFT LIMITED
Slide 15: Key Milestones
Key Milestones Granted trademark Investments by SIDBI Commenced exports to Achieved sales of 9.1 IPO with listing on registrations for Gilma Commenced production at retailers in the USA million units NSE and BSE Harohalli facility 2001 2008 2014 2018 2021 1999 2003 2010 2015 2019 Incorporated Stove
Slide 16: Diverse range of products across consumer preferences
Diverse range of products across consumer preferences… Cookware–Pressure cooker, wonder cast cookware, non-stick cookware, electric rice cookers and titanium hard anodized LPG Stoves Small appliances – Food cookware processors, juicers, hand LED bulbs Massage apparatus blenders, hand mixers, mini Co
Slide 17: State of the Art Manufacturing Facilities with focus on quality
State of the Art Manufacturing Facilities with focus on quality Baddi, Himachal Pradesh Comprising of 13 personnel and tie-ups Dedicated in-house with foreign companies for technology R&D facility enablement Focus on quality is Sourcing of raw materials ISO 9001:2015 certified maintained at all Prod
Slide 18: Professional Management Team
Professional Management Team Mr. Rajendra Gandhi Mr. Ramakrishna Pendyala Mr. Rohit Mago Mr. Vikash Gupta Managing Director Chief Financial Officer Chief Revenue Officer Chief Operating Officer • Founder of Stove Kraft with over 22 years • He holds a bachelor’s degree in commerce • B Sc, Government
Slide 19: Backed by Experienced Board
Backed by Experienced Board Mr. Rajendra Gandhi Mrs. Sunita Gandhi, Mrs. Neha Gandhi, Mr. Natrajan Ramakrishna Managing Director Non-Executive Director Executive Director Independent Director • Founder of Stove Kraft with over 22 years of • She is promoter of the Company and • Holds a Bachelor’s Deg
Slide 20: Shift in Consumption Patterns and Favorable Governments Policies
Shift in Consumption Patterns and Favorable Governments Policies Indian Consumer Appliance Market expected to grow @CAGR of ~9% Key Growth Drivers (INR Bn) Indian Appliance and Kitchen Appliances Market Consumer Electronics (ACE) Market LCA SCA Non Stick Cookware 01 Moving towards Aspirational Lifes
Slide 21: Indian Large & Small Cooking Appliance Market
Indian Large & Small Cooking Appliance Market Increasing Market for Large Cooking Appliances (LAC) Increasing Trend by Sub Segments – Value (INR Billion) Large Cooking Appliances 8 21,761 7 52 18,313 19,955 6 45 15,453 16,817 6 39 14,209 5 34 53 202 5 29 46 SKL is the market 179 25 34 39 159 30 lead
Slide 22: Non-Stick Cookware and Indian Household Utility Products
Non – Stick Cookware and Indian Household Utility Products Increasing Market for Non-Stick Cookware Types of Non-Stick Cookware Used (%) in 2020 16.8% 74.1% 10,367 11,389 67.0% 9,437 9.9% 8,590 56.2% 7,819 7,117 35.1% 21.0 18.0 6.4% 13.2 15.4 1.9% 1.3% 9.7 11.3 Appachetty Frying Pan Paniyarakk Kadai
Slide 23: Historical Financials
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill Historical Financials
Slide 24: Consolidated Operating Performance
Consolidated Operating Performance Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,284 114 81 1,136 95 99 859 56 670 36 34 3 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Gross Profit Margins EBITDA Margins PAT Margins 34.0% 35.0% 13.2% 9.5% 31.9% 32.7% 8.3% 7.7% 4.9% 5.0% 2.8%
Slide 25: Key financial metrics
Key financial metrics RoCE 28.9% Working Capital (in Days) 16.7% 12.0% 9.2% Working 38 37 32 38 Capital (in Days) Mar-20 Mar-21 Mar-22 Mar-23 82 75 Cash Flow from Operations (Rs. 66 70 68 69 71 64 Crs.) 56 110 36 40 30 76 16 Mar-20 Mar-21 Mar-22 Mar-23 -5 Inventory Debtors Creditors Mar-20 Mar-21 Ma
Slide 26: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue from Operations 1,283.8 1,136.4 859.0 669.9 Cost of Materials Consumed 746.1 702.6 442.4 323.2 Purchase of stock-in-trade 113.8 110.9 125.2 128.8 Changes in Inventories of Finished Goods and Work in Pro
Slide 27: Historical Balance Sheet- 1/2
Historical Balance Sheet- 1/2 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Equity share capital 33.0 32.9 32.6 24.7 Other equity 370.3 331.1 270.1 -83.4 Total Equity 403.4 364.0 302.7 -58.7 Financial liabilities Borrowings 10.0 15.3 20.7 204.8 Lease Liabilities 32.3 0.0
Slide 28: Historical Balance Sheet- 2/2
Historical Balance Sheet- 2/2 ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Property, plant and equipment 362.4 309.4 217.7 193.4 Capital work-in-progress 9.5 9.2 19.1 4.2 Intangible assets 4.0 3.0 3.2 3.6 Right to Use Assets 35.6 0.0 0.0 0.0 Goodwill on Amalgamation 0.1 0.0 0.0 0.0 Fina
Slide 29: Historical Cash Flow Statement
Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.). Mar-23 Mar-22 Mar-21 Mar-20 Cash Flow from Operating Activities Profit before Tax 47.3 62.5 81.2 2.8 Adjustment for Non-Operating Items 52.9 46.0 36.8 34.4 Operating Profit before Working Capital Changes 100.1 108.5 117.9 37.2 Changes in
Slide 30: Thank You
Thank You Investor Relations Advisors : CIN: L29301KA1999PLC025387 Contact Person: Parth Patel Mr. Irfan Raeen Email Address: +91 98197 85972 +91 97737 78669 Mr. Shrinivas P H - Company Secretary shrinivas.ph@stovekraft.com parth.patel@linkintime.co.in irfan.raeen@linkintime.co.in