Eureka Forbes Limited · NSE:EUREKAFORB
Eureka Forbes — Q3 FY24 Earnings Presentation
26 slides from Eureka Forbes's earnings presentation, Feb 14, 2024
Slide 1: Q3 FY24 Earnings Presentation
Q3 FY24 Earnings Presentation February 14, 2024
Slide 2: Disclaimer
Disclaimer The statements contained in this document speak only as at the date as of which they are made and certain statements made in this presentation relating to the Company’s objectives, projections, outlook, expectations, estimates, among others may constitute ‘forward-looking statements’ with
Slide 3: Q3 FY24 Highlights, Key Focus Areas, Eureka Forbes – An introduction
• Q3 FY24 Highlights • Key Focus Areas • Eureka Forbes – An introduction
Slide 4: Q3 FY24 Highlights (Standalone Results)
Q3 FY24 Highlights (Standalone Results) Figures in Rs Cr Revenue Adj. EBITDA* Adj. PBT** PAT 538.6 52.9 40.9 22.7 +14.1% YoY Margin 9.8% +45.6% YoY +131.3% YoY +111bps YoY +16.8% YoY in Continuing Business * Adj. EBITDA is defined as PBT + Finance cost + Depreciation + ESOP charge less other non-ope
Slide 5: Q3 FY24: Standalone P&L Statement
Q3 FY24 : Standalone P&L Statement Particulars (Rs. Cr) Q3FY24 Q3FY23 YoY (%) Q2FY24 QoQ (%) Revenue 538.6 472.0 14.1% 592.3 -9.1% Employee Benefit Expenses -71.9 -67.6 6.3% -74.7 -3.7% Service Charges -70.2 -69.4 1.1% -82.0 -14.4% Other Expenses -122.3 -100.6 21.7% -121.2 1.0% ➢ Q3 FY24 revenue inc
Slide 6: Revenue growth: Broad-based across categories and channels
Revenue growth : Broad-based across categories and channels Revenue Growth (YoY %) 16.8% 14.1% ▪ Continuing business grows 16.8% YoY; Highest 4.8% growth in 6 quarters -0.1% -2.6% 3.0% -4.2% ▪ 3rd successive quarter of volume growth in both -3.8% Water Purifiers and Vacuum Cleaners -8.9% -8.0% ▪ Str
Slide 7: Adj. EBITDA margin continues to expand year on year
Adj. EBITDA margin continues to expand year on year Adj. EBITDA* % 10.5% 9.8% 9.8% 9.3% 8.7% ▪ Adj. EBITDA expanded 111bps YoY driven by 6.3% operating leverage and structured cost 5.4% optimization program 4.5% ▪ Increased spending on advertising to drive innovations and service revenues FY21 FY22
Slide 8: Strengthened balance sheet with positive net cash and rating upgrade
Strengthened balance sheet with positive net cash and rating upgrade Net debt/ (Surplus) – Rs Cr 199 122 ▪ Net cash surplus of Rs 60Cr 50 ▪ Credit rating upgrade from CARE A 32 Stable to CARE A+ Stable -9 -60 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23
Slide 9: New Product Launches – Water Purifiers
New Product Launches – Water Purifiers Strengthening presence in all segments through launch of premium SKUs AG Slimtech Glass UV Storage AG BLAZE INSTA RO UV AG Vector RO AG Marvel Nxt RO UV Alkaline 5th Gen UV LED for Instant Purification, Instant Hot Water, Dual Stainless-Steel Alkaline Boost Car
Slide 10: New Product Launches – Vacuum Cleaners
New Product Launches – Vacuum Cleaners Step up in consumer research/insights leading to “Industry-first” Innovations Convenient & Cordless Cleaning – Uprights Building a Differentiated Portfolio - Pet Grooming Kit
Slide 11: New Product Launches – Surround 360° Air Purifiers
New Product Launches – Surround 360°Air Purifiers AP150 AP355
Slide 12: Aquaguard wins Ad Club EFFIE Awards India 2023
Aquaguard wins the prestigious Ad Club EFFIE AWARDS INDIA, 2023 SILVER in Home Furnishings and Appliances Category* ’Jab Nal Se Kapda Hatega, Tabhi Sar Ka Kapda Hatega’ *Only award *Only awardin in thethe category (no(no category Gold or or Gold Bronze); EFFIE Bronze); awards EFFIE recognize awards
Slide 13: Management Views
Management Views “Q3 witnessed a step up in our growth and revenue grew 14.1% with continuing businesses growing at 16.8%. Growth was volume led and was broad-based across product categories and service business. Within water purifiers, we witnessed strong growth in both Economy segment and Value Ad
Slide 14: Key Focus Areas
• Q3 FY24 Highlights • Key Focus Areas • Eureka Forbes – An introduction
Slide 15: Macro factors supportive of growth
Macro factors supportive of growth Growing Low Category Availability & Growth in consciousness on Penetration of the Access to piped Electrification health & hygiene core categories water 96.7% of Indian Jal Jeevan Mission households now Amongst the lowest now covers over 40 connected to the grid Es
Slide 16: EFL's key strategic priorities for profitable growth
EFL’s key strategic priorities for profitable growth Grow the Water Purifiers Business Drive Lean Cost Structures 01 • Innovation and new product development 04 • Productivity unlocks • Jump shift in distribution • “Zero based” approach to all costs Expand Portfolio Go Digital First 02 • Nurture and
Slide 17: Eureka Forbes – An introduction
• Q3 FY24 Highlights • Key Focus Areas • Eureka Forbes – An introduction
Slide 18: Eureka Forbes: Introduction
Eureka Forbes: Introduction Eureka Forbes: Introduction Electrolux & Shapoorji Advent Tata Group Pallonji Group International Professionally 1982 2002 2022 managed company governed by an Independent Board Joint Venture Subsidiary of a Publicly listed Public Company Company Shareholding 72.56 % Adven
Slide 19: Pioneers & Leaders
Pioneers & Leaders Vacuum cleaners Water purifiers Direct selling
Slide 20: Diversified portfolio
Diversified portfolio Market leaders in water purifiers and vacuum cleaners Wide range of products with state- of-the-art technology Product portfolio catering to both B2C and B2B customers Diversified revenue streams across product and service
Slide 21: Brand strength
Brand strength Strong association of brand Aquaguard with product category High brand health scores Top of mind recall > 65%
Slide 22: Omni channel presence
Omni channel presence Direct sales General trade Modern retail Ecommerce B2B Canteen Stores (CSD)
Slide 23: Extensive service network and strong customer connect
Extensive service network and strong customer connect In home service in over ~ Large active database of customers
Slide 24: EFL Management Team
EFL Management Team Pratik Pota MD & CEO 30+ yrs/>1 yr Jubilant FoodWorks, PepsiCo, Airtel, HUL Ajit Dheer Anurag Kumar Gaurav Khandelwal Mahnaz Shaikh Shubham Srivastava Nithyanand Shankar Suresh Redhu Satish Satyarthi Anirudha Karnataki Chief Operating Chief Growth Chief Financial Chief Human Chie
Slide 25: Contact Us
Contact Us: Corporate Identification No: L27310MH2008PLC188478 Investor e-mail id: Investor.Relations@eurekaforbes.com Website: https://www.eurekaforbes.com/ Regd. & Corporate Office: B1/B2, 7th Floor, 701, Marathon Innova, Ganpatrao Kadam Marg, Lower Parel, Mumbai -400013 EFL BSE Scrip Code : 54348
Slide 26: Thank You
Thank You EUREKA