Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q4 FY22 Earnings Presentation
20 slides from Tilaknagar Industries's earnings presentation, May 31, 2022
Slide 1: Filing cover letter to BSE and NSE
May 31, 2022 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalai Street, Bandra-Kurla Complex, Bandra (East), Mumbai 400001 Mumbai-400 051. Scrip Code : 507205 Symbol : TI Sub: Earnings Presentation for Audited Financial Results
Slide 2: Q4 & FY22 Earnings Presentation
Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) 5/31/2022 Earnings Presentation Q4 (Jan to Mar 2022) & FY22 Tilaknagar Industries | Q4 & FY22 Earnings Presentation 1
Slide 3: Q4 & FY22 Performance
Q4 & FY22 PERFORMANCE Tilaknagar Industries | Q4 & FY22 Earnings Presentation 2
Slide 4: Q4 & FY22 – at a glance
Q4 & FY22 – at a glance Q4 FY22 YoY QoQ FY22 YoY ▪ Highest quarterly volumes in last 7 years ▪ Market share growth in key states (FY21 vs. 22); Volumes (cases) 19.5 lacs 13.3% 4.4% 67.3 lacs 23.4% Telangana – 46% to 49% Puducherry – 7% to 14% ▪ Driven by growth in NSR per case: Revenue (Net) 241 crs
Slide 5: Debt reduction journey
Debt reduction journey… …working towards near debt-free position by FY24 Debt reduction (Rs. Crs)(a)(b)(c) Debt as of 31-Mar-22(a)(b)(c) 46 1,199 EARC Term Loan 112 Trade Deposits Debt reduced by Rs. 94 crs over 4 quarters 291 Other Debt 543 492 449 361 ▪ EARC debt is at 9% p.a. ▪ EARC balance debt
Slide 6: Operational highlights (1/2)
Operational highlights (1/2) Volume (lacs cases) 18.7 19.5 67.3 17.2 18.1 16.5 14.9 54.5 11.1 6.0 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY21 FY22 Net Revenue (Rs. Crs) 241 783 201 206 192 168 549 132 135 56 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY2
Slide 7: Operational highlights (2/2)
Operational highlights (2/2) Gross Profit (Rs. Crs) 118 401 109 98 85 85 76 271 69 32 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY21 FY22 EBITDA (Rs. Crs) 32 112 31 26 22 23 19 54 10 2 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 FY21 FY22 Tilaknagar Industri
Slide 8: Management commentary
Management commentary From the desk of Mr. Amit Dahanukar, Chairman & Managing Director ❑ The last few months have witnessed significant global supply chain disruptions leading to tremendous inflationary headwinds, which could continue to a varying degree in the immediate future ❑ Our mitigation str
Slide 9: Extract of Income Statement
Extract of Income Statement Y-o-Y Q-o-Q Y-o-Y (Rs. Crs) Q4 FY22 Q4 FY21 growth % Q3 FY22 growth % FY22 FY21 growth % REVENUE: Revenue from operations Revenue from operations (Gross) 520.9 441.8 17.9% 501.7 3.8% 1,792.1 1,418.4 26.3% Other operating income Less: Excise Duty 279.8 249.5 12.2% 295.8 -5
Slide 10: Extract of Balance Sheet
Extract of Balance Sheet (Rs. Crs) As at Mar-22 As at Mar-21 (Rs. Crs) As at Mar-22 As at Mar-21 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant and Equipment 438.8 467.8 Equity Share Capital 158.6 125.4 Capital Work-in-Progress 100.2 100.1 Other Equity -25.1 -181.2 Right of
Slide 11: Company & Industry Overview
COMPANY & INDUSTRY OVERVIEW Tilaknagar Industries | Q4 & FY22 Earnings Presentation 10
Slide 12: About the Company
About the Company Largest premium brandy manufacturer in India with presence across all segments of IMFL Manufacturing units across 12 states Share of Brandy as % 16 Owned: 4 units 15+ Brands across products 94% of total volumes Contract manufacturing: 12 units 6.73 Volumes (in cases) Share of sales
Slide 13: We sell millions of cases across India
We sell millions of cases across India MANSION HOUSE ❑ Mansion House is a millionaire brand (more than 5.5 mn cases sold in FY22) ❑ Mansion House is the highest selling premium brandy in India ❑ Manufactured across all units ❑ A brand with a high brand loyalty driving repeat purchases COURRIER NAPOL
Slide 14: Our strategic focus… the way forward
Our strategic focus… …the way forward Volume growth Market share growth(b) Efficient levels of capacity utilisation ▪ FY22 growth in volumes for MHB and ▪ Continued focus on brandy ▪ Pernod Ricard agreements enables CNB stands at 24% each ▪ Market share (as % of brandy) growth efficient capacity uti
Slide 15: MHB and MHB Brandy segment growing faster
MHB and MHB Brandy segment growing faster… …than overall Brandy, Whiskey and IMFL MHB vs. Industry Growth (a) MHB market share as % of brandy (a) MHB market share as % of IMFL (a) Category CAGR Market share growth of 36% over 6 years Market share growth of 41% over 6 years MHB 9.1% Brandy Segment 2.
Slide 16: FY22 Financials
FY22 FINANCIALS Tilaknagar Industries | Q4 & FY22 Earnings Presentation 15
Slide 17: Improving business fundamentals
Improving business fundamentals Premiumisation strategy to enhance margins and cash flows Total Volumes Sold (mn cases) Brandy Sales (mn cases) 84% 89% 91% 92% 94% 5.92 6.64 6.44 5.45 6.73 4.98 5.92 5.86 5.03 6.33 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Share of Brandy to total volumes sol
Slide 18: Focus on margins and cashflows
Focus on margins and cashflows Most of write-offs impacting EBITDA have been undertaken Net Revenues (Rs. Crs) Gross Profit (Rs. Crs) and Gross Margin (%) 51% 52% 49% 51% 46% 578 661 653 549 783 293 342 301 271 401 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 EBITDA (Rs. Crs) and EBITDA Margin
Slide 19: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic
Slide 20: Thank You
For further information, please contact: Ameya Deshpande Head – Corporate Development & Strategy Email: adeshpande@tilind.com THANK YOU
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