V-Guard Industries Limited · NSE:VGUARD
V-Guard Industries — Q4 FY2019 Earnings Presentation
22 slides from V-Guard Industries's earnings presentation, May 2019
Slide 1: V-Guard Industries Q4 FY2019 Earnings Presentation
V-Guard Industries Q4 FY2019 Earnings Presentation
Slide 2: Disclaimer
Disclaimer 2 Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 3: Table of Contents
Table of Contents 3 MD’s Message 04 Key Highlights 05 Financial Highlights 6-8 Segment-wise/Geographical Breakup of Revenues 9-11 Business Outlook 12 Annexure 13
Slide 4: Managing Director's Message
4 Managing Director’s Commenting on the performance for Q4 & FY19, Mr. Mithun Chittilappilly, Managing Director – Message V-Guard Industries Limited said, “We have delivered a growth of 12% (GST-adjusted), EBITDA growth of 20% and PAT growth of 24% for full year FY19, despite the challenges faced du
Slide 5: Key Highlights – Q4 & FY19
5 Key Highlights – Q4 & FY19 • Q4 revenue up 12.3% YoY to Rs. 740 crore Revenue growth of • Strong recovery in South markets with revenue growth of 16.3% 12.3% YoY in Q4 FY19 • Non-South markets grew 6.3% YoY impacted by the delayed onset of summer in Q4 FY19 • Q4 revenues were driven by Wires, Modu
Slide 6: Financial Highlights (Q4 FY19 vs Q4 FY18)
Financial Highlights (Q4 FY19 vs Q4 FY18) 6 Total Income (Rs. crore) Gross Profit 740 219 659 193 Key ratios (%) Q4 FY19 Q4 FY18 Gross Margin 29.6% 29.3% 12.3% 13.5% EBITDA Margin 11.5% 6.3% Q4 FY18 Q4 FY19 Q4 FY18 Q4 FY19 Net Margin 8.0% 4.2% Ad Exp (incl. promotions)/Total Revenues 4.6% 9.7% EBITD
Slide 7: Financial Highlights (FY19 vs FY18)
Financial Highlights (FY19 vs FY18) 7 Total Income (Rs. crore) Gross Profit 2,566 767 2,321 697 Key ratios (%) FY19 FY18 Gross Margin 29.9% 30.0% 10.6% 10.1% EBITDA Margin 9.3% 8.5% FY18 FY19 FY18 FY19 Net Margin 6.4% 5.7% Ad Exp (incl. promotions)/Total Revenues 5.2% 6.6% EBITDA (Rs. crore) PAT (Rs
Slide 8: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Balance Sheet Perspective 8 Balance Sheet Snapshot (Rs. cr) 31 Mar 2019 31 Dec 2018 31 Mar 2018 Net worth 899.7 837.5 751.6 Gross debt 10.0 10.0 2.4 Current Investments 83.1 157.1 75.2 Cash and cash equivalents 84.3 55.8 4.7 Net Cash Position (Rs. crore) 157.4 202.9 77.5 Fixed
Slide 9: Segment-wise Breakup of Revenues – Q4 FY19 vs Q4 FY18
Segment-wise Breakup of Revenues – Q4 FY19 vs Q4 FY18 9 Q4 FY19 Contribution Q4 FY18 Contribution YoY growth Products (Rs. Cr) (%) (Rs. Cr) (%) (%) Electronics 205.5 28% 207.7 32% -1.1% Electricals 355.2 48% 294.6 45% 20.6% Consumer Durables 179.0 24% 156.3 24% 14.5% Grand Total 739.7 100% 658.6 100
Slide 10: Segment-wise Breakup of Revenues – FY19 vs FY18
Segment-wise Breakup of Revenues – FY19 vs FY18 10 FY19 Contribution FY18 Contribution YoY growth Products (Rs. Cr) (%) (Rs. Cr) (%) (%) Electronics 759.9 30% 729.2 31% 4.2% Electricals 1128.6 44% 1017.1 44% 11.0% Consumer Durables 677.9 26% 575.0 25% 17.9% Grand Total 2,566.4 100% 2,321.3 100% 10.6
Slide 11: Geographical Breakup of Revenues
Geographical Breakup of Revenues 11 Q4 FY19 Contribution Q4 FY18 Contribution YoY growth Region (Rs. Cr) (%) (Rs. Cr) (%) (%) South 464.0 63% 399.1 61% 16.3% Non-South 275.7 37% 259.5 39% 6.3% Total Revenue 739.7 100% 658.6 100% 12.3% FY19 Contribution FY18 Contribution YoY growth Region (Rs. Cr) (%
Slide 12: Business Outlook
Business Outlook 12 • The Company is confident of achieving a topline growth of 15% over the next few years driven by expansion into non-South markets and introduction of new product categories. • We continue to undertake business strengthening initiatives and putting in place best in class processe
Slide 13: Annexure
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Slide 14: Company Overview
Company Overview 14 • Electronics – Stabilizers, UPS, Solar Inverter; Electricals – Wires, Pumps, Switchgears, Modular Comprehensive portfolio catering to Switches; Consumer Durables – Fans, Water Heaters, Kitchen Appliances, Air Coolers the mass consumption market • Household consumption market wil
Slide 15: Production Model
Production Model 15 PVC Wires Factory Solar Water Heater Factory Stabilizer Manufacturing Units Product No. of Units Location Outsourcing Objectives Own Manufacturing Facilities • Asset light model outsourcing ~58% products PVC Wiring Cables 2 Coimbatore, Kashipur Pumps & Motors 1 Coimbatore • Compl
Slide 16: Financial Highlights (FY14-19)
Financial Highlights (FY14-19) 16 Revenue EBITDA and EBITDA Margins PAT and PAT Margins 6.8% 6.4% 2,566 9.3% 6.0% 5.7% 2,321 9.9% 10.5% Rs. crore 2,114 8.4% 8.5% 4.6% 4.1% Rs. crore 1,746 1,862 7.9% Rs. crore 1,518 127 138 185 222 198 238 70 71 112 145 133 166 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15
Slide 17: Operational Highlights (FY14-19)
Operational Highlights (FY14-19) 17 Ad & Promo Spends and as a % of Sales Expanding Geographic Presence 153 30% 33% 33% 35% 37% 39% 135 95 80 60 69 70% 67% 67% 65% 63% 61% 6.6% 4.5% 5.2% 3.9% 4.0% 4.3% FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 South Non-Sout
Slide 18: Market Size (Rs. Crore)
Market Size across Product Segments 18 Products STABILIZERS PVC WIRES COOKTOPS MOTOR PUMPS Organized 700.00 5,500.00 420.00 – 450.00 5,500.00 Market Size (Rs. Crore)* Unorganized 550.00 4,000.00 180.00 – 200.00 5,000.00 Total 1,250.00 9,500.00 600.00 – 650.00 10,500.00 Micro tech, Livguard, Prestige
Slide 19: Market Size (Rs. Crore)
Market Size across Product Segments 19 Products WATER HEATERS FANS UPS Digital UPS Market Size (Rs. Organized 1,325.00 5,000.00 160.00 4,500.00 Crore)* Unorganized 700.00 1,500.00 240.00 750.00 Total 2,025.00 6,500.00 400.00 5,250.00 A.O. Smith, Racold, Bajaj, Crompton, Usha, Bajaj Microtek, Luminou
Slide 20: Market Size (Rs. Crore)
Market Size across Product Segments 20 Products SOLAR WATER HEATER SWITCHGEAR GAS STOVES MIXER GRINDERS Market Size (Rs. Organized 420.00 1,400.00 1,000.00 1,500.00 Crore)* Unorganized 180.00 600 1,000.00 1,000.00 Total 600.00 2,000.00^ 2,000.00 2,500.00 Racold, Emmvee Solar, Butterfly (glass top),
Slide 21: About V-Guard Industries
About V-Guard Industries 21 V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, incepted in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a m
Slide 22: Thank You
THANK YOU