Carysil Limited · NSE:CARYSIL
Carysil — Acrysil — Q4 FY22 Earnings Presentation
43 slides from Carysil's earnings presentation, May 18, 2022
Slide 1: Investor Presentation May 2022
Leader in Lifestyle Kitchen Products Advancing through Innovation. Progressing through Expansion. Investor Presentation May 2022
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Acrysil Limited. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,
Slide 3: Q4 & FY22 Highlights
Q4 & FY22 Highlights
Slide 4: Message from Chairman & MD
Message from Chairman & MD Commenting on the Results, Mr. Chirag Parekh, Chairman & Managing Director said, “ We are pleased to share that our Company has reported strong performance for FY22. Despite of covid third wave and ongoing geopolitical issues in the last quarter, we have reported topline g
Slide 5: Robust FY22 Performance
Robust FY22 Performance Key Highlights Total Income* +56% • Company reported Total Income and PAT after MI of Rs. 492.4 Crores and Rs. 64.8 crores respectively for FY22 • Quartz sinks continue to be significant contributor to the revenues with a share of 77% for FY22 • Domestic business has increase
Slide 6: Consolidated: Q4 FY22 Performance
Consolidated: Q4 FY22 Performance Rs. Crores Total Income* (Rs. Crs) EBITDA (Rs. Crs) PAT After MI (Rs. Crs) 141.0 31.3 16.4 104.3 24.0 13.0 65.8 11.1 3.9 Q4 FY20 Q4 FY21 Q4 FY22 Q4 FY20 Q4 FY21 Q4 FY22^ Q4 FY20 Q4 FY21 Q4 FY22 EBITDA Margin (%) PAT After MI Margin (%) 23.0% 22.2% 12.5% 11.6% 16.8%
Slide 7: Consolidated: FY22 Performance
Consolidated: FY22 Performance Rs. Crores Total Income* (Rs. Crs) EBITDA (Rs. Crs) PAT After MI (Rs. Crs) Domestic Revenue (Rs. Crs) 492.4 115.5 64.8 97.5 315.5 71.6 39.1 63.7 FY21 FY22 FY21 FY22 FY21 FY22^ FY21 FY22 EBITDA Margin (%) PAT After MI Margin (%) Exports Revenue (Rs. Crs) 22.7% 23.5% 12.
Slide 8: Consistent Growth
Consistent Growth Rs. Crores Total Income EBITDA 492 116 +22.1% +34.4% 316 72 252 280 197 51 181 41 26 26 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22^ PAT After MI Cash PAT After MI 65 83 +51.9% +43.4% 39 52 34 22 26 17 19 8 12 14 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY2
Slide 9: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue FY22 Export 20% 9% 77% Domestic 14% 80% Quartz Sink Steel Sink Appliances & Others FY21 5% 95% 10% 76% Strengthening 14% ‘Carysil’ Brand Quartz Sink Steel Sink Appliances & Others 9
Slide 10: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q4 FY22 Q4 FY21 Y-o-Y Q3 FY22 Q-o-Q FY22 FY21 Y-o-Y Revenue 138.9 100.6 128.0 483.9 309.7 Gain / (Loss) on Foreign Exchange 2.0 3.7 2.2 8.5 5.8 Total Income 141.0 104.3 35% 130.2 8% 492.4 315.5 56% Raw Material 58.1 45.0 54.2 209.5 141.8 Employee Exp
Slide 11: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Liabilities (Rs. Crs.) Mar-22 Mar-21 Non-current assets 245.8 170.3 Total Equity 256.9 194.0 Property Plant & Equipment 168.3 121.2 Share capital 5.3 5.3 Right to use of assets 12.3 5.0 Other Equity 248.4 186.1 Goodwill 23.9 23.9 Money recei
Slide 12: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Net Profit For The Year 65.0 39.3 Adjustments for: Non-Cash Items / Other Investment or Financial Items 87.0 38.7 Operating profit before working capital changes 152.0 78.0 Changes in working capital -81.3 -20.1 Cash generated fro
Slide 13: Standalone Profit & Loss
Standalone Profit & Loss Particulars (Rs. Crs.) Q4FY22 Q4FY21 Y-o-Y Q3FY22 Q-o-Q FY22 FY21 Y-o-Y Revenue 110.9 80.5 104.0 388.0 248.3 Gain / (Loss) on Foreign Exchange 1.9 3.7 2.1 8.3 5.8 Total Income 112.9 84.2 34% 106.1 6% 396.3 254.2 56% Raw Material 43.2 35.5 44.5 163.6 110.2 Employee Expenses 7
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Liabilities (Rs. Crs.) Mar-22 Mar-21 Non-current assets 204.9 145.6 Total Equity 200.3 151.4 Property Plant & Equipment 147.0 104.9 Share capital 5.3 5.3 Right to use of assets 12.3 5.0 Other Equity 195.0 146.1 Goodwill - - Intangible Assets 1
Slide 15: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Net Profit For The Year 51.5 26.6 Adjustments for: Non-Cash Items / Other Investment or Financial Items 44.3 34.0 Operating profit before working capital changes 95.8 60.6 Changes in working capital -30.4 -12.1 Cash generated from O
Slide 16: Acrysil UK Acquires Tickford Orange Limited
Acrysil UK Acquires ‘Tickford Orange Limited’, holding company of its operating subsidiary ‘Sylmar Technology Limited’ The acquisition is a natural and strategic fit for Acrysil and will catapult the Company into new orbit of growth Acquisition Revenues (Mn. GBP) Covid Impact 14.0 13.9 12.3 10.9 Ove
Slide 17: Capex Update
Capex Update Capacity Expansion of Quartz Kitchen Sinks Capacity Expansion of Stainless Steel Sinks Capacity Expansion Capex Expansion of Capex Expansion of Capex Expansion of of 100,000 units Additional 140,000 Additional 160,000 Additional 200,000 Capacity Expansion announced in 200203 units annou
Slide 18: Upgradation in Credit Rating for borrowings
Upgradation in Credit Rating for borrowings Our long term credit rating were upgraded to [ICRA] A and short term credit rating reaffirmed to [ICRA] A2+ in November, 2022. Below is the highlight of recent reaffirmation by ICRA Limited. Credit Ratings Amount Rating Instrument Ratings Rating Action (Rs
Slide 19: Company Overview
a Company Overview
Slide 20: Numero Uno Position
Numero Uno Position Only Introduced Certification for Manufacturer with Schock Physical Vapor Deposition (PVD) Technology (Germany) Technology ISO 9001:2015, ISO 14001:2015 In Asia in Quartz Sink For metallic finish of stainless ISO 45001:2018 steel sinks PAN India presence Quartz Sink Capacity Expo
Slide 21: Acrysil – Over the Years
Acrysil – Over the Years 2022 Acrysil started its first Acquisition Launched 2021 of Tickford international Kitchen subsidiary in Orange Appliances in Commenced Limited, Germany – the Domestic 2020 supplies of holding Acrysil GmbH. Market under Quartz sinks to company of the brand IKEA Started name
Slide 22: Pillars of Integrated Business
Pillars of Integrated Business Manufacturing Facilities & Distribution Network Brand Product Basket Technology Gallery • Quartz Sinks: 8,40,000 pa* , • The acquisition of 100% stake • Brand promotion on TV and in Stainless Steel : 90,000 pa and • Offers a wide range of cutting in a distribution comp
Slide 23: Products with Global Standards sold in 55 Countries
Products with Global Standards sold in 55 Countries Company presently exports to over 55 countries. Plan to expand further by acquiring new customers and penetrating in new geographies Map not to scale. All data, information and maps are provided “as is” without warranty or any representation of acc
Slide 24: Board of Directors
Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik Chairman and Managing Director Independent Director He holds a BBA Degree from premier ' European University’ A Chartered Accountant, was a partner of a reputed Accounting firm - M/s After joining the company in 1993, he successfully steere
Slide 25: Awards & Certifications
Awards & Certifications FGI’s Award for ‘Best Exports IPF Fastest growing Manufacturing Performance & Promotion’ Company Award 03 04 If Design Award to Sternhagen SaniQ kristall Certificate for ‘Best CSR wash basin 02 05 practices’ by Rotary Club Award Certificate for 01 06 Manufacturing Innovation
Slide 26: Marketing campaign for 'Carysil' Brand
Marketing campaign for ‘Carysil’ Brand ➢ Acrysil has signed Bollywood celebrity ‘Vaani Kapoor’ for new marketing campaign #TheHeartofMyHome for its ‘Carysil’ Brand ➢ Under the ‘Carysil’ brand, company sells lifestyle kitchen sinks and built-in appliances ➢ Campaign #TheHeartofMyHome unveils a new ra
Slide 27: Increasing Product Portfolio
Increasing Product Portfolio Bath Fittings Bathroom Suits Product Segment Appliances Kitchen Sinks 27
Slide 28: Sinks
a Sinks
Slide 29: Only Company to make Quartz Sinks in Asia with German Technology
Only Company to make Quartz Sinks in Asia with German Technology Only Company Different Models Plant Capacity Many Outlets in Asia The only company in Asia and 2 plants having a combined Developed more than 150+ The brand is available in among a few companies capacity of 8,40,000* models to cater to
Slide 30: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 14% to Consolidated revenue* Production Capacity 90,000 sinks per annum^ Target Market for Quadro (Designer) Sinks Caters to high end segment who are willing to pay a premium for superior quality, design and fini
Slide 31: Kitchen Appliances
Kitchen Appliances
Slide 32: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Chimneys Dish Washer Cook Tops Built in Ovens Product Portfolio Wine Chillers Cooking Range Micro Wave Owens Currently Hoods contributing ~5% to the Revenue* Manufacturing and Trading of Poised to become a significant player in the Appliances overall
Slide 33: Bath Segment
L Bath Segment
Slide 34: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology FUNDAMENTALS OF THE BUSINESS ▪ Brand owned by Acrysil’s Wholly owned Product Range of Subsidiary in Germany, Branding Synergy Innovation Achievements Details Products ‘Acrysil GmbH’ Synergy in Quartz Developed full ▪ 60+ Showrooms & SIS St
Slide 35: Strengthening Sternhagen Brand
Strengthening “STERNHAGEN” Brand “Unveiling the new Rose Gold collection of Premium Sanitary ware and Bath fittings” 35
Slide 36: Business Model
| Business Model
Slide 37: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Input Processing Output Purchase of Moulds All the Moulds are imported Production Capacity 840,000* units per annum Variety of Moulds ▪ Has more than 150 moulds Place: Bhavnagar, Gujarat ▪ 400+ SKU’s Made to Order Life of Moulds Made as per the custom
Slide 38: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands Dealer Network 1500 1500 1500 1500 1300 1200 800 550 400 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 Distributor Network 80 82 82 82 82 ARABIAN BAY OF 60 65 SEA BENGAL 45 30 Sales Distributor 2013-14 2014-15 2015-16 2016-17
Slide 39: Presence in UK through Acrysil Products Ltd.
Presence in UK through Acrysil Products Ltd. (formerly known as Homestyle Products Ltd.) Acrysil holds 100% in Homestyle Products through Acrysil UK Limited The name of Homestyle Products Limited has been changed to Acrysil Products Limited Products sold under Acrysil Products Ltd. Revenues (Mn. GBP
Slide 40: Our Distribution Model
Our Distribution Model International Domestic Strong Foothold in India STRATEGIC Acquisition of Significant Presence in UK Homestyle Products Limited 1,500 Dealers 65 Franchise Shop 80 Gallery Market (now known as Acrysil Products Limited - A kitchen products distribution company) 82 Distributors 5
Slide 41: Multiple Growth Drivers
Multiple Growth Drivers Strong Distribution Network Strengthen the Distribution network by tie up with Homestyle and Short Term plan to add new 100 galleries and 34 more distributor Branding & Technology Focused on capturing the Brand Mindspace of niche Consumers Growth Huge Product Range Drivers En
Slide 42: Regular Dividend Payout
Regular Dividend Payout Dividend 21.2% 22.8% 27.8% 21.7% 18.1% 14.3% 13.6% 9.9% Payout (excl. DDT) 24.3 21.9 18.9 18.0 14.7 8.4 6.6 5.0 5.0 4.6 4.0 2.0 2.4 1.0 1.2 1.2 2015 2016 2017 2018# 2019# 2020# 2021# 2022# EPS DPS The Board of Directors have recommended a final dividend of Rs. 1.20 per equity
Slide 43: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma – CFO Mr. Rahul Agarwal/ Ms. Khushbu Shah cfo@acrysil.com rahul.agarwal@sgapl.net/ khushbu.shah@sgapl.net +91 9821438864 / +91 9820601181 www.acrysil