Manomay Tex India Ltd. · NSE:MANOMAY
Manomay Tex India — Q3 FY2024 Earnings Presentation
45 slides from Manomay Tex India's earnings presentation, Feb 27, 2024
Slide 1: Investor Presentation Q3 - FY 2024
INVESTOR PRESENTATION Q3 - FY 2024
Slide 2: Bird's-Eye View: Manomay
BIRD’S-EYE VIEW: MANOMAY Incorporated in 2009 and 90 ISO v e a nt 01 a la converted to eh gp n an :201 W in i public company 14 d 5 nn ed n 00 ISO i t ce 1:20 sp oca stha in 2017 r l ja co tifie 15 Ra mp d an y Bus and Team Sus ma egrat n ilit ing int ave a act d ines ienced e tain odel Exp ur y h s
Slide 3: Our Journey
OUR JOURNEY 1978 1994 2003 Established as Dhanlaxmi The foundation of Dhanlaxmi Renamed Mahalaxmi Synthetics Group, specializing in a wide Weaving, specializing in wide to Citifab Suitings range of Tex fabrics range of Cotton Dhoties 2006 2009 1989 Embarked on a new journey with a new plant of weavi
Slide 4: Our Journey
OUR JOURNEY 2013 2017 2021 2023 Already began commercial Got listed its equity shares on BSE SME Platform in During the year 2021 the Company In the year 2022-23 Company has production of Denim Fabrics installed TSUDAKOMA BRAND NEW migrated from BSE Limited SME to BSE March AUTOMATIC SHUTTLELESS ZAX
Slide 5: Vision & Mission
VISION & MISSION VISION We Believe:- ‘Together Everyone achieves more’ We are here to invest in our relations with people & for people MISSION We are here not only for business but for making long term relations. A satisfied buyer and his appreciation for goods is inspiration for better working in f
Slide 6: Ring Spinning Process
RING SPINNING PROCESS Main Gate Cotton Godown Blow room Carding Drawing Roving (Mixing) Packing Conditioning Winding Spinning
Slide 7: Open End Spinning Process
OPEN END SPINNING PROCESS Blow room Main Gate (Mixing) Drawing Conditioning Cotton Godown Carding Open end Packing
Slide 8: Denim Manufacturing Process
DENIM MANUFACTURING PROCESS 1 2 3 4 5 Manomay Tex India Raw Material Yarn Warping Sizing Loom Limited 6 7 8 9 Finishing Folding/Checking Roll/Packaging Dispatch
Slide 9: Products
PRODUCTS Our Segments:- The most common denim is indigo denim, in which the warp thread 3/1 Twill is dyed cotton, while the weft The most common weave for denim fabric. 3/1 is just three warp threads for every waft thread and create a subtle diagonal thread is left white & sometimes ribbing pattern.
Slide 10: Denim Manufacturing Capacity
DENIM MANUFACTURING CAPACITY Denim Plant located at Aaraji No.5,6,7 Gram-Jojro Ka Khera Tehsil-Gangrar, Dist.:-Chittorgarh (Rajasthan), India has production capacity of 48 million meters per annum spread across land area of 20,300 sq. meter and 11,800 sq. meter.
Slide 11: Denim Process Details
DENIM PROCESS DETAILS 3. High Air JetLooms 1. Warping These are the main weaving machines. Warping is the process of Installation of latest high air jet looms combining yarns from different with wider width and dobby, cones to form sheet. TSUDOKAMA- 115 LOOMS. We have 6 Warping machines We carry out
Slide 12: Denim Process Details
DENIM PROCESS DETAILS 4. SIngeing Machine 6. Inspection This machine produces an even surface by This helps to identify the faults in production of burning off projecting fibres, yarn ends, fabric before packing & delivery. and fuzz. We have sixteen Inspection machines We have one Singeing machines
Slide 13: Our Markets
OUR MARKETS New Delhi Ludhiana Domestically, we trade throughout india, primarily in major cities like New Delhi, Hathras Bhilwara Mumbai, Kolkata, Ahmedabad, Ludhiana, Kanpur Indore, Kanpur, Bellary, Hathras, Ulhasnagar, Bhilwara and Bhavnagar. Ahmadabad Kolkata Bhavnagar Ulhasnagar Mumbai Bellary
Slide 14: Our Markets
OUR MARKETS We export our denim to 15+ countries worldwide, like Colombia, Mexico, Egypt, Chile, Venezuela, Paraguay, Guatemala, Peru, Ecuador, Lebanon, Bangladesh, Argentina, Bolivia, Morocco, and USA. USA Lebanon Morocco Egypt Bangladesh Mexico Colombia Guatemala Venezuela Ecuador Peru Paraguay Ch
Slide 15: Market Size & Growth Factors
MARKET SIZE & GROWTH FACTORS Indian Denim Market According to various market studies, the Indian domestic denim market has been maintaining an average CAGR of 8 to 9 per cent for a few years and is expected to reach Rs 91,894 crores by 2028. 1,600 million meters per year India’s denim fabric install
Slide 16: Growth Drivers
GROWTH DRIVERS The growing denim market, both internationally and nationally, is the main reason why leading mills are optimistically believing that denim will continue to tap growth in the years to come and if projections are an indicator, its growth will touch 10-12% on CAGR basis. To grab more ma
Slide 17: Growth Opportunities
GROWTH OPPORTUNITIES The textiles and apparel (T&A) industry contribute 2.3% to the country's GDP, 13% to industrial production and 12% to exports. The Directorate General of Foreign Trade (DGFT) has revised rates for incentives under the Merchandise Exports from India Scheme (MEIS) for two subsecto
Slide 18: Strengths
STRENGTHS Integrated Manufacturing Facility : allowing us to carry on all the facilities in house i.e. from winding and warping of yarn to dispatch of the fabric. Our Experienced Management: through their constant efforts, we have been able to build a sustainable business model Locational Advantage:
Slide 19: Weakness
WEAKNESS An increase in mid-market / value shops has a detrimental influence on higher-end retailers and increases the potential to offer lower-end brands. Price fluctuations to keep up with changing demands and trends. Scarcity of trained labour. An increase in unit cost, as well as high tariff bar
Slide 20: Opportunities
OPPORTUNITIES The textile and apparel industry is expected to grow to US $190 billion by FY26. Urbanization is expected to support higher growth due to change in fashion and trends. According to Union Budget 2022, there is a total allocation of ₹12,382 crore for the textile sector for next financial
Slide 21: Threats
THREATS High Competition: The market is saturated with established brands. When competitors offer cheaper prices, it is difficult to strike a balance between price and quality. Due to pollution concerns, certain factories in China and Europe have been shut down, resulting in a spike in the price of
Slide 22: Our Management
OUR MANAGEMENT Mr. Kailashchandra Hiralal Laddha Chairman He is the Chairman of the company and is a commerce graduate with 46+ years of versatile experience in the textile industry, and has thorough knowledge of products of our Company. He holds experience in operations, business process, risk mana
Slide 23: Our Management
OUR MANAGEMENT Mr. Yogesh Laddha Mrs. Pallavi Laddha Promoter and Managing Director Whole Time Director He is the Managing Director of the company and is She is the Whole Time Director and Chairperson of a Chartered Accountant by qualification and Internal Complaint Committee of the Company. She mem
Slide 24: Our Management
OUR MANAGEMENT Mr. Maheshchandra Mr. Kamlesh Kailashchand Kailashchandra Laddha Ladha Whole Time Director Whole Time Director He is the Whole Time Director of the company and He is the Whole Time Director and a member of the member of Corporate Social Responsibility Stakeholder Relationship Committe
Slide 25: Our Management
OUR MANAGEMENT Mr. Shriniwas Shivraj Mr. Basant Kishangopal Mr. Dilip Balkishan Porwal Bhattad Porwal Independent Director Independent Director Independent Director He is the Independent Director and member He is the Independent Director and Chairperson He is the Independent Director and of the Nomi
Slide 26: Our Management
OUR MANAGEMENT Mr. Anil Kumar Kabra Mr. Rajiv Mahajan Independent Director Independent Director He is the Independent Director and member of He is the Independent director and a member of Nomination Nomination and Remuneration Committee of our and Remuneration Committee of our company. He is a compa
Slide 27: Our Management
OUR MANAGEMENT Mr. Raj Kumar Chechani Mr. Kamesh Shri Shri Mal Chief Financial Officer Company Secretary He is the Chief Financial Officer of the company. He is a He is Company Secretary and Compliance Officer of Chartered Accountant and has 11 Years of diverse the company. He has completed his Mast
Slide 28: Snapshot Q3 FY2024
SNAPSHOT Q3 FY2024 Operating Revenue EBITDA Margin (%) PAT Margin (%) INR 12,460.99 Lakhs 35.35% 3.08% Stock Price Movement 200 150 100 50 0 22 2 3 3 23 3 2 2 22 2 23 3 3 22 23 22 3 23 23 22 3 2 g2 p2 r2 g2 p2 r2 n2 n2 l2 b2 ne ay ly ay ov ec ct ec ct ov ar Ap Ju Ap Au Au Se Se Ja Ju Fe Ju O O M M M
Slide 29: Quarterly Key Ratios
QUARTERLY KEY RATIOS Operating Profit & Net Profit & Revenue from Operations Operating Profit Margin Net Profit Margin 20,000.00 5,000.00 35% 400.00 4% 32.83% 30% 4,000.00 15,000.00 300.00 3% 29.28% 25% 3.08% 3,000.00 20% 200.00 1.64% 2% 10,000.00 15% 2,000.00 10% 1% 5,000.00 100.00 1,000.00 15,201.
Slide 30: Key Ratios
KEY RATIOS Operating Profit & Net Profit & Revenue from Operations Operating Profit Margin Net Profit Margin 60,000.00 20,000.00 35% 1000.00 28.95% 26.35% 30% 2.50% 50,000.00 800.00 15,000.00 25% 2.00% 40,000.00 2.24% 20% 600.00 1.50% 30,000.00 10,000.00 1.53% 15% 400.00 1.00% 20,000.00 10% 53,067.3
Slide 31: Key Highlights
KEY HIGHLIGHTS Revenue from Operations Operating Profit & Net Profit & Operating Profit Margin Net Profit Margin 3,500.00 1,400.00 2.50% 6% 70,000.00 3,000.00 1,200.00 5% 2.00% 60,000.00 4.35% 1.85% 2,500.00 4.35% 1,000.00 50,000.00 4% 3.50% 1.50% 2,000.00 800.00 40,000.00 3% 1,500.00 3.32% 600.00 3
Slide 32: Return Ratios
RETURN RATIOS TOTAL ASSETS & CAPITAL EMPLOYED & ROCE NET WORTH & RONW RETURN ON ASSETS 7% 6% 20,000.00 40,000.00 6% 12,000.00 20% 5% 6.63% 5% 15,000.00 10,000.00 30,000.00 5.25% 3.30% 4% 4% 15% 2.39% 8,000.00 3% 10,000.00 2.43% 3% 20,000.00 6,000.00 10% 1.29% 11.17% 2% 2% 4.48% 11.36% 4,000.00 5,000
Slide 33: Strong Financial: Key Ratios
STRONG FINANCIAL: KEY RATIOS CURRENT RATIO INTEREST COVERAGE TOTAL DEBT/EBITDA 2.00 2.50 3.00 2.50 2.00 1.50 2.00 1.50 1.00 1.50 1.00 1.00 0.50 1.55x 1.34x 1.52x 1.60x 2.36x 2.12x 2.65x 2.45x 1.77x 0.50 0.50 0.00 0.00 0.00 FY2021 FY2022 FY2023 FY2021 FY2022 FY2023 FY2021 FY2022 FY2023 Current Ratio
Slide 34: Efficiency Ratios
EFFICIENCY RATIOS Turnover Ratio 1.73 Total Asset Turnover Ratio 1.83 Performance is quite favourable on 1.51 operational front. The company has 4.46 been performing well, in terms of Inventory Turnover ratio 4.12 industry parameters. The company 3.64 has been on favorable terms with 4.82 debtors an
Slide 35: Quarterly Highlights
QUARTERLY HIGHLIGHTS & Rs. in Lakhs Quarter Ended Particulars 31-Dec-23 30-Sep-23 Q-o-Q 31-Dec-22 Y-o-Y 1) Revenue from Operations 12,460.99 13,340.92 (6.60%) 15,201.86 (18.03%) 2) Other Income 42.68 7.15 496.92% 13.82 208.83 3) TOTAL REVENUE (1+2) 12,503.67 13,348.07 (6.33%) 15,215.68 (17.82%) 4) D
Slide 36: Financial Statement (9M)
FINANCIAL STATEMENT (9M) Rs. in Lakhs Particulars 31- Dec -23 31- Dec -22 Y-O-Y 1) Revenue from Operations 39,842.40 53,067.39 (24.92%) 2) Other Income 68.64 14.75 365.36% 3) TOTAL REVENUE (1+2) 39,911.04 53,082.14 (24.81%) 4) Direct Expenditure (a) Cost of Materials Consumed 27,048.32 35,877.49 (24
Slide 37: Profit & Loss Statement
PROFIT & LOSS STATEMENT Rs. in Lakhs Particulars FY2021 FY2022 FY2023 1) Revenue from Operations 32,125.30 58,953.15 69,887.88 2) Other Income 0.72 35.01 35.04 3) TOTAL REVENUE (1+2) 32,126.02 58,988.16 69,922.92 4) Direct Expenditure (a) Cost of Materials Consumed 20,376.13 37,665.19 47,768.07 (b)
Slide 38: Balance Sheet
BALANCE SHEET Rs. in Lakhs Rs. in Lakhs Particulars 2021 2022 2023 Particulars 2021 2022 2023 II. ASSETS I. EQUITY AND LIABILITIES 1. Non-Current Assets 1. Shareholder’s Funds (a) Plant, Property & Equipment 5,628.26 5,600.11 6,620.22 (a) Share Capital 1,468.34 1,468.34 1,804.87 (b) Capital work in
Slide 39: Capital Structure
Shareholding Pattern as on 31st December, 2023 Shareholding Pattern CAPITAL STRUCTURE Authorized Share Capital As at 31st March 2023 As at 31st March 2022 Particular Number Amount Number Amount 43.86 Authorized Share ( Capital) (in Lakhs) 200 2000.00 200 2000.00 Equity Shares of Rs. 10 each Issued,
Slide 40: Awards & Recognitions
AWARDS & RECOGNITIONS The company has won TEXPROCIL Export Award 2020-2021 in the Gold Trophy for the Highest Exports of (Cotton) ‘Denim Fabrics'. under Category II (Export performance above Rs.75 Cr. And upto Rs. 250 Cr.) for exports of Rs. 155.60 Cr. during the year 2020-21 from The Cotton Textile
Slide 41: Awards & Recognitions
AWARDS & RECOGNITIONS Rajasthan State Export Award 2020 Company has won Rajasthan State Export Award 2020 From Government of Rajasthan Department of Industries & Commerce for Highest export Denim (Cotton) Fabrics and Growth in the category of textiles during the year 2019-20. This Rajasthan State Ex
Slide 42: Awards & Recognitions
AWARDS & RECOGNITIONS Recent visit by honourable minister of textile industry Shri Piyush Goyal Ji along with Member of Lok Sabha Shri CP Joshi Ji for plant visit.
Slide 43: Investment Rationale
INVESTMENT RATIONALE By 2029, the Indian textiles market is anticipated to be valued more than US$ 209 billion. The Indian textiles industry appears to have a bright future, driven by robust domestic and foreign demand. Incentives under the PLI scheme will be available for five years from 2025-26 to
Slide 44: Disclaimer
DISCLAIMER This presentation has been prepared solely for information purposes and does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment what so ever.
Slide 45: Thank You
THANK YOU Mr. YOGESH LADDHA Investor Relations Promoter And Managing Director NNM Nextgen Advisory Pvt. Ltd. REGISTERED OFFICE: 32 Heera Panna Market, Mr. Nikunj Mittal Pur Road, Bhilwara 311001, nikunj@nnmsecurities.com Rajasthan, INDIA Research Team yogesh@manomaytexindia.com ca@manomaytexindia.co