Ifb Industries Ltd · NSE:IFBIND
Ifb Industries — Q2 FY2021-22 Earnings Presentation
31 slides from Ifb Industries's earnings presentation, Nov 6, 2021
Slide 1: Covering letter to stock exchanges
I lil13 IEI! Industries lrmited CorPorate Office T Plot No.-lND-S, Sector-1 East Kolkata Township, Kolkata - 700 107 Telephone: (91) (33) 39U947519524 6th November,202I Fax : (91) (33) 39849676 Web : wwwifuindustries.com The Manager Department of Corporate Services Bombay Stock Exchange Ltd, Phiroze
Slide 2: Financial Report Quarter and Half Year Ended 30th September 2021
IFTI IFB lndustries Limited Financial Report Quarter and Half Ybar Ended SOth Septernber,2O2t l'r rl! }H o 3
Slide 3: Financial Track Record
Financial Track Record 2 Revenue {? in crore} Operatlng PTofiUEBDITA {? in crore} gCI ?5 60 45 50 r5 0 FY FY FY FY. FY FY FY FY FY FY 'l 7-',1 g '1 B-"1 g '1 9-'20 '20-'21 '21-'22 '17-'18 '18-''19 'lg-20 20-'21 '21-',22 Iqt {- qz Free Cash Flow 6 Months Sep {( in crore) r80 r50 s0 50 -to -70 FY FY F
Slide 4: Financial track record (continued)
-ff (t in crore) : :* crowthldegrowtft have been calculated in comparison with last year o3
Slide 5: Financial Review Q2
Financial Report-Quarter and Half Year Ended j0th September,ZOT| Financial Review Q2 (T in crore) Q? (FY',21-',221 Q2 (FY'20-'21) rrD (Fy'2I J221 yTD (Fy'20-'21) Revenue from Operations 957.96 715.05 l,5t 0.57 994"45 EBITDA 74.22 84.73 44.A3 ss.sg EBITDA o/o on Revenue 7.75 1 .Bs 1 2"92 5"s9 EBT 56.
Slide 6: EBITDA drivers and Balance Sheet
ln spite of revenue growth, EBITDA for the 2nd Quarrer was lower cornpared with last year for the 2 following reasons: ' Material cost increase is on account of hike in commodity prices, which has not been passed through. ' lncrease in promotion expenses by ?17 crore, primarily the AC category and e
Slide 7: Cash balances and Market Conditions
Against the aforesaid bonowing, as on 50 September, 2071, orlr Cash and Bank Balances (including investments in Mutual Funds) were t325.82 crore. Hence, the Company remained debt free on a net basis as on the last day of the 2nd euarter of Fy Zl-27. The break up of the same is given: Break-up of cas
Slide 8: Market Conditions and Home Appliances Division
Financial Report-Quarter and Half Year Ended ioth september,za}l The pressure on inputs is high and will lead to price hikes post the festive season and in the 4th euarter The impact on derrrand will be seen in the 4th Quarter. Supply chain pressures remain on commodity pricing and electronic compon
Slide 9: Home Appliances product updates
ffi ln the Znd Quarrer, the product range offered was expanded. The Company began to upgrade all its front toad models with a Steam feature, which helps in hygienic washing.Top loads with heater options were also ramped up in placements. New models of microwave ovens in the 20 litre and 5O litre cap
Slide 10: Business Updates: Engineering Division
Business Updates 2 Engineering Division: ln the Znd Quarter, the automotive market saw muted sales: ' The shortage of semi-conductors severely affected the 4-wheeler segment from July onwards. . The high-end 2-wtreeler segment was also affected by the shortage of chips. ' An increase in steel prices
Slide 11: Home Appliances product categories: Front Load
ffi ::j,.:..f,.it,* :"; tr .:tt'i::ff Li.:Tfl ,i.j1,ryi,? _ i:::t;:.;:*:l l); iiSi:;rr The Division's range of products cCIvers both domestic and industrial application categories. The updates at the end of the 2nd Quarter for each of the product categories are given below: " Front Load Washing Mach
Slide 12: Washer-dryer, dishwasher and industrial segment
ffi washer-dryer-refresher. Value growth in this category was -l I o/o in the 2nd Quarter" We are also working to establish the dryer as a major segment through product innovations. The domestic dishvrasher segment for the IFB brand grew significantly at -112o/o for the first half of ZO2l " We have
Slide 13: Industrial, microwave ovens and modular kitchens
*% ,4ra' ATEilH: The revenues from both industrial categories have been low as all major institutions such as colleges, hotels and restaurants have been closed over the last few Quarters. We expect a tumaround in demand in the 4th Quarter, including tender based sales, for which we have a healthy or
Slide 14: Built-in ovens, chimneys, hobs and air conditioners
ffi . Built-in Ovens, Chimneys and Hobs We aim to place the products in this category at 75O MBO counters by end of the 5rd euarter along with 5ZO+ i IFB Points' The IFB Points account for -50% of sales in this category. The Company is investing in full range of product displays to increase its pres
Slide 15: Financial Summary of Home Appliances Division
Financial Summary of Home Appliances Division 2 (( in crore) Revenue from Operations 794.7s s88.59 1,?.27.80 837.87 EBITDA 63.47 71.O3 51.49 53.55 EBITDA 96 on Revenue 7.98 1?..O7 z.5o 6.59 EBT 5s.29 46,28 (2r.26) 5.4s EBT % on Revenue 4.44 7.86 {1"75) o.6s ROCE % 6.66 7"s6 {r .12) 2.s\ ' As madtet
Slide 16: Financial Summary of Engineering Division
Financial 5ummary of Engineering Division 2 ({ in crore) Revenue from Operations 15s.1s 1 19.61 266.47 147.98 EBITDA 17.34 17.71 25.91 9"80 EBITDA ?o on Revenue ir.rs 14.81 9.72 6.62 EBT 6.10 8.50 4.r 8 (6.44) EBT % on Revenue 3.95 7.1 i 1.57 {4.5s} ROCE 0/6 2.s0 3"s6 2.78 - Q,4o) ' The 2nd Quarter
Slide 17: Financial Summary of After Market Division
Financial Summary of After Market Division 2 ({ in crore) Revenue from Operations 19.81 14.O3 27.O1 20.s2 EBITDA (0.12) 0.38 (o.771 (0.26) EBITDA 7o on Revenue (0,61) 2.71 (1.2 ) EBT (0"20) 0.25 (0.e4) (o.47') EBT ofr on Revenue (1.01) 1.64 (5.48) (2.zsr' Revenue for the Quarter was impacted due to
Slide 18: Financial Summary of Automotive Motor Division
Financial Summary of Automotive Motor Division 2 ({ in crore} Revenue from O ons 10.83 7.22 24,64 B-97 EBITDA (0.83) (o.oB) (1.e4) (1.s8) EBITDA 9o on Revenue (7.66) (1.1 1 ) (e.40) (1 7.6r ) EBT (1.55) (0"46) (2.s41 (2.30) EBT % on Revenue {12.281 (6.37\ (14.241 (2s.64) . Sales growth is high based
Slide 19: Financial summary of Fine Blanking/Stamping Division
Financial Report-Quanter and Half year Ended IOth September,ZOZI ({ in crore) Q2 (FY ',21-',221 Q2 (FY ',z}-',z',,) YTD (FY'21 J221yTD (Fy '2f-'2U Revenue from Operations 14.s2 10.81 2s.42 1?-.7V EBITDA 1.73 1"50 2.29 1"28 EBITDA o/o on Revenue 1 1.91 r 3.88 9.01 10 02 EBT (0.12) {0.4s) (r.37) (2"44
Slide 20: Subsidiaries: Trishan Metals Private Limited
Subsidiaries 2 IFB lndustries Limited, the Holding Company, has two wholly owned subsidiaries-Trishan Metals Private Limited (TMPL) and Global Automotive & Appliances Pte Ltd (CAAL), as well as one step-down subsidiary Thai Automotive and Appliances Limited (TAAL). Trishan Metals Private Limited ({
Slide 21: Trishan Metals (Contd) and GAAL
Trishan Metals Private Limited (Contd...) It is felt that TMPL has the capability to generate higher volumes and margins with certain changes in its operational and machine capabilities. lt is now receiving the impact of price increases on a monthly basis. This, coupled with a spike in sales, will i
Slide 22: Why it is strategic to have an establishment in Singapore
Why it is strategic to have an establishment in Singapore 2 ' Having an office there gives us credibility in dealing with global companies that have their regional headquarters in Singapore and gives us access to all other ASEAN countries who have their offices in Singapore. ' Face-to-face communica
Slide 23: Standalone Income Statement
Financial Report-Quarter and Half Year Ended j0th September, 2O2l STAN DALO NE INCOT\dE STATEMENT QTN YTD {{ in crore) 30 Sep, '21 5O Sep, '20 50 Sep, '21 IO Sep, 'ZO Total Sale of Products l,l gB.7l 863.33 1,842.71 1,195.95 Less: Trade Scheme and Discounts 270.30 178.01 404.82 251.65 Net Sales 918.
Slide 24: Standalone Balance Sheet
2 STANDALONE BALANCE SHEET ({ in crore) 5O Sep, '21 30 Sep,'20 ASSETS Property, Plant and Equipment* 662.48 599.17 lnvestment in Subsidiaries 47.90 33-60 lnvestrnent in Equity Shares 2"25 lnventories 583.74 513.54 lnvestment in Mutual Funds 215.55 261.45 Trade Receivables 515.r I 222.43 Cash and Ban
Slide 25: Standalone Key Ratios
STANDALONE KEY RATIOS k QTR YTD 30 Sep, '21 30 Sep, '20 30 Sep, '21 30 Sep, '20 Earnings Per Share (ln t) (Not Annualised) 6.09 7.90 (4"41) (2.70) Book Value per Share (ln t) 169.95 156.s2 169.95 155.52 Current Ratio (*) 1.24 1.41 1.24 1.41 Quick Ratio o.70 o.98 o.70 o.9B EBDITA/Total lncome (%) 7.7
Slide 26: Standalone Cash Flow Statement
tr STANDALONE CASH FLOW STATEMENT ({ in crore) Six Month Ended 3O Sep, '21 3O Sep, '20 CASH FLOWS FROM OPERATING ACTIVITIES Profit Before Tax (26.12) (8.16) Non Cash and Other Adjustments 60.27 71.53 Operating Profit Before Working Capital Changes 34-15 63.37 Movement in Working Capital (5e.1s) 162.
Slide 27: Consolidated Highlights
2 CONSOLIDATED H ICHLICHTS (? in crore) Q2 ('21 -',22) Q2 ('20-'21) Total lncome 994.71 I,030.57 Earning Before Depreciation, lnterest & Tax 75.23 85.43 Earning Before lnterest and Tax 44.77 59.53 Profit Before Tax 36.82 50.84 Profit After Tax-Owners 24.59 31 ,87 Profit After Tax-Non-controlling lnt
Slide 28: Consolidated Income Statement
2 CONSOLI DATED INCO ME STATEMENT QTR (? ln crore) 3O Sep,'21 30 Sep,'20 Revenue from Qerations 989.78 737.26 Total lncome 994.71 739-9A EBDITA 75.'',3 85.43 EBDITA Margin {%) 7.56 1 I.55 EBIT M.77 59-53 EBIT Margin (%) 4-5 B-O Finance Costs 7.94 8.69 Profit Before Tax 36.82 50.84 Profit After Tax 2
Slide 29: Consolidated Balance Sheet
CONSOLI DATED BALAN CE SH EET (T in crore) 30 Sep,'21 31 Mar,'2.| ASSETS Propefty, Plant and Equipment* 715.93 674.83 lnvestment in Equity Shares 2.75 2.25 lnventories 597.90 46?'"28 lnvestment in Mutual Funds 215,55 258.22 Trade Receivables 337.9A 265.69 Cash and Bank Balances 116.27 123.27 Other N
Slide 30: Thank You
Financial Report-Quarterend Half Year Eftded Soth september, 2oal Thank You Si;i = tqt,* ffi;;*"-:' T his p rese ntati on contains rrtr.W&ffJ,j{ stfltements which reflect the ffi{i# Manage me nt',s cu ff ent views and estimates and may be ca nstrue d as f o rw ar d - loaki ng in nature. The future i
Slide 31: Contact
OVER 6 MILLION SATISFIED CUSTOMERS Micrnrave (hen Built in {hen 0ishwasher Chimney I Built in Hob Top Load Front Load 10016 Clodres Dryer Air Conditioner Contact Prabir Chatterjee Director and Chief Ftnancial Oficer Phone +9] 55 3984947519524 Mobile +91 9331648802/9674686572Fax +91 33 59849676 Emai