Butterfly Gandhimathi Appliances Limited · NSE:BUTTERFLY
Butterfly Gandhimathi Appliances — Q4 FY20 Earnings Presentation
39 slides from Butterfly Gandhimathi Appliances's earnings presentation, Jun 12, 2020
Slide 1: Cover letter to stock exchanges
'l BUTTERFLY GANDHIMATHI APPLIANCES LIMITED June 12,2020 General Manager - DCS, Manager, Dept. of CorPorate Services, National Stock Exchange of India Ltd BSE Ltd, Exchange Plaza, Floor l, P.J.Towers, BandraKurla ComPlex, Dalal Street, Bandra (E), Mumbai- 400 001 Mumbai- 400 051 Scrip: 517421 Scrip:
Slide 2: Results Presentation Q4 FY20
BUTTERFLY GANDHIMATHI APPLIANCES LIMITED RESULTS PRESENTATION Q4 FY20 www.butterflyindia.com
Slide 3: Safe Harbour
Safe Harbour Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertaintie
Slide 4: Contents
Contents 1 Company Overview 2 New Products Launches 3 Financial Overview 4 Q4 FY20 Operating Performance & Highlights 5 12M FY20 Operating Performance & Highlights 6 Outlook www.butterflyindia.com 3
Slide 5: Company Overview
1 Company Overview www.butterflyindia.com
Slide 6: About Us
About Us.. Leading manufacturer of Kitchen and Electrical Appliances Market Leader in India for SS LPG Stoves & Table Top Wet Grinders and major supplier of Mixer Grinders & Pressure Cookers The „Butterfly‟ brand is a highly respected brand synonymous with quality Established in 1986 by Shri V. Muru
Slide 7: Quick Facts
Quick Facts IN THE TOP IN INDIA REVENUE CAGR IN INDIA FOR DOMESTIC FOR SS LPG STOVES FY17-20 KITCHEN APPLIANCES & TABLE TOP WET GRINDERS SALES OF BRANDED NOW PRESENT IN ALL PRODUCTS IN FY20 EXCLUSIVE STATES IN INDIA CRORE DISTRIBUTORS ACROSS INDIA NET DEBT / EQUITY REVENUE GROWTH OF FY20 RATIO OVER
Slide 8: Growth Levers
Growth Levers Initiatives Impact o Fresh growth avenues in existing markets Wider Product Offering o Accelerated growth opportunity in new markets o Addressable market increases manifold Geographical Expansion o Wider National footprint o Expansion in blended margins Premium Products o Attracts new
Slide 9: Overview Milestones
Overview Milestones • Launched 4 new • First in India • Bagged the first Product to be awarded • First in India to TNCSC order of Rs. Categories “BEE Label be awarded ISO 285 crore for • Added 60 SKUs to with 2 star 9000 manufacturing of product range rating” for certification for Table Top Wet • En
Slide 10: Revenue Profile
Revenue Profile Annual Net Revenue (Rs. crore) Revenue Excluding Excise Duty / GST 900 764 730 652 679 46% 590 39% 529 541 46% 16% 402 44% 244 100% 100% 100% 60% 84% 52% 55% 100% 56% 100% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 Branded Sales Govt Order www.butterflyindia.com 9
Slide 11: Branded Retail Sales
Branded Retail Sales Branded Net Sales (Rs. crore) Through Oil Marketing Channel CAGR 12% 652 679 • Tie ups with Gas dealers of IOCL, BPCL and HPCL 541 • Customers for new gas connection are provided with co- 461 445 468 branded products manufactured by BGMAL 398 402 329 244 Through Retail Marketing
Slide 12: Augmenting Organic Growth
Augmenting Organic Growth Increased Product Categories For Wider Product Portfolio And Higher Market Share Product Categories (Nos.) SKUs (Nos.) 687 619 651 500 552 554 20+ 20+ 20+ 20+ 20+ [VALUE]+ [VALUE]+ 320 250 250 6 6 6 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015
Slide 13: Product Portfolio
Product Portfolio Every product exhibits the highest standards in Safety, Durability, Efficiency, Aesthetics & Reliability LPG Stove Mixer Grinder Table Top Electric Chimney Wet Grinder Pressure Cooker Non Stick Cookware Induction Cooktop Electric Rice Cooker Juicer Mixer Grinder Electric Kettle San
Slide 14: Product Portfolio
Product Portfolio Other Pioneering Products Hand Blender Juicer Vacuum Flasks Electric Iron Pop-up Toaster www.butterflyindia.com 13
Slide 15: Strong R&D Capabilities
Strong R&D Capabilities R&D focused Company with a demonstrated track record in innovation 1st to introduce Stainless Steel Pressure Cookers in India 1st to manufacture Stainless Steel LPG Stoves in India 1st to introduce Stainless Steel Vacuum Flasks in India which deliver enhanced Heat Retention u
Slide 16: New Products Launched
2 NEW PRODUCTS LAUNCHED www.butterflyindia.com
Slide 17: New Product Launches during FY20
New Product Launches during FY 20 Ruby Opal Signature Peerless www.butterflyindia.com 16
Slide 18: New Product Launches during FY20
New Product Launches during FY 20 Duo Radiant Trio www.butterflyindia.com 17
Slide 19: New Product Launches during FY20
New Product Launches during FY 20 Home & Office Urban Leisure Voyage www.butterflyindia.com 18
Slide 20: New Product Launches during FY20
New Product Launches during FY 20 Curve 2B SS LPG Stove Rock Die -Cast NS Flat Tawa 310mm Superb Plus HA NS Kadai 280mm Rock Die Cast Kadai 240mm Rock Die Cast Grill pan 240mm www.butterflyindia.com 19
Slide 21: New Product Launches during FY20
New Product Launches during FY 20 Curve 2B SS LPG Stove Compact 2L Trendy 2L Kroma NS Jumbo Grill Pan Kroma NS Oothappam Tawa www.butterflyindia.com 20
Slide 22: New Product Launches during FY20
New Product Launches during FY 20 Curve 2B SS LPG 2000w Stove 1800w 2200w Amaze Turbo V3 Elite V3 www.butterflyindia.com 21
Slide 23: New Product Launches during FY20
New Product Launches during FY 20 Curve 2B SS LPG Stove Food Processor Utilities Food Processor Utilities Mini Chopper Citrus Juicer Slicer Blade Food Processor Utilities www.butterflyindia.com 22
Slide 24: Financial Overview
Financial Overview 3 www.butterflyindia.com
Slide 25: Abridged Profit & Loss Statement
Abridged Profit & Loss Statement Rs. In crore The Revenue has grown across all FY 2017 FY 2018 FY 2019 Q4 FY 20 12M FY20 the retail Particulars FY 2017 channel. IND-AS IND-As Ind-As Ind-As Ind-As However the Total Net Revenues (Incl. OI) 405.5 406.6 542.1 654.0 111.2 680.2 estimated 110.6 678.7 reve
Slide 26: Abridged Balance Sheet
Abridged Balance Sheet Rs. In crore Application Of Funds FY 2017 FY 2017 ** FY 2018** FY 2019** FY 2020** a) Non-current Assets 176.0 177.9 171.6 176.4 179.4 The Inventory increased due to Covid-19, a) Current Assets 231.3 240.5 296.0 287.5 312.7 because of revenue loss. - Inventories 108.8 108.8 12
Slide 27: Abridged Balance Sheet
Abridged Balance Sheet Rs. In crore Sources of Funds FY 2017 FY 2017** FY 2018** FY 2019** FY 2020 a) Shareholders’ Funds 179.9 175.2 180.2 189.4 192.7 Long term borrowing reduced due to repayment of b) Non-current Liabilities term loans 68 62.5 45.8 42.2 35.7 (NCL) - Long-term Borrowings 60 62.5 45
Slide 28: Performance Track Record - Annualized
Performance Track Record - Annualized Total Revenue (Rs crore) EBITDA (Rs crore) 652 679 63 73 62 65 541 44 48 41 461 448 468 27 36 398 402 330 -24 244 Profit Before Tax (Rs crore) Profit After Tax (Rs crore) 48 30 33 44 22 34 19 18 19 12 9 12 3 5 4 4 -57 6 3 -56 NOTE : * FY11 was for period of 9 mo
Slide 29: Key Financials
Key Financials Earning Per Share 20.0 19.0 13.0 7.0 3.0 5.0 1.8 2.0 2.0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 -31.0 Net Debt - Equity Ratio Net Worth (Rs crore) 1.6 224 226 229 201 1.1 1.2 175 180 189 193 0.7 0.7 0.8 0.8 0.9 0.5 76 41 0.0 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
Slide 30: Q4 FY20 Operating Performance & Highlights
Q4 FY20 Operating 4 Performance & Highlights www.butterflyindia.com
Slide 31: Q4 FY20 – Performance highlights
Q4 FY20 – Performance highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) Estimated Revenue 10.9 Loss due to Covid 0.0 40.0 Actual Revenue 149.5 110.6 Q4 FY19 Q4 FY20 (4.0) Q4 FY19 Q4 FY20 • Total Income during Q4 FY20 stood at Rs. 110.7 crore, as PAT (Rs. crore) against Rs.149.5 crore in Q
Slide 32: Key Highlights
Key Highlights Branded Sales (Rs. crore) Y-o-Y Q-o-Q Product Q4 FY20 Q4 FY19 Q3 FY20 Growth Growth Branded Market Kitchen Appliances 83.3 114.4 133.4 -27.2% -37.6% Cooker/Cookware 20.7 22.0 33.8 -5.7% -38.6% Others 6.5 13.1 7.3 -50.3% -10.8% Grand Total 110.6 149.5 174.5 -26.0% -36.6% www.butterflyi
Slide 33: 12 Months FY20 Operating Performance & Highlights
12 Months FY20 Operating 5 Performance & Highlights www.butterflyindia.com
Slide 34: 12M FY20 – Performance highlights
12M FY20 – Performance highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) 40.0 0.0 Estimated Revenue 47.7 Loss due to Covid 42.2 Actual Revenue 652.0 679.0 12M FY19 12M FY20 12M FY19 12M FY20 PAT (Rs. crore) • Total Income during 12M FY20 stood at Rs.678.70 crore, as against Rs.651.98 cror
Slide 35: Key Highlights
Key Highlights Branded Gross Sales (Rs. crore) Y-o-Y Product 12M FY20 12M FY19 Growth Branded Market Kitchen Appliances 517.8 514.3 0.7% Cooker/Cookware 123.4 104.4 18.2% Others 37.4 33.3 12.3% Grand Total 678.7 652.0 4.1% www.butterflyindia.com 34
Slide 36: Outlook
5 Outlook www.butterflyindia.com
Slide 37: Outlook
Outlook The global economy is affected due the novel coronavirus pandemic which has forced businesses across the world to suspend operations. There will be revenue loss in FY21 because of very weak Q1 due to lockdown. However we expect there will be better opportunity from Q2 onwards because of incr
Slide 38: Outlook
Outlook 12M FY20 CATEGORY MARKET ENVIRONMENT OUTLOOK CONTRIBUTION • Retail channel started doing well in across 85 - 90% of South. The Company is targeting Retail Channel Sales Branded Sales in to achieve 85% to 90% of 12M FY20 • Alternate channels are also expected to FY21 revenue do well from Q2 o
Slide 39: Thank you
Thank you any queries please contact Mr.V.M.G.Mayuresan, vmgm@butterflyindia.com
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