Butterfly Gandhimathi Appliances Limited · NSE:BUTTERFLY
Butterfly Gandhimathi Appliances — Q4 FY19 Earnings Presentation
38 slides from Butterfly Gandhimathi Appliances's earnings presentation, May 24, 2019
Slide 1: Cover letter to stock exchanges
ATHI APPLIANCES LIMITED May 24,2019 DCS, General Manager - Manager, Services, Dept. of Corporate National Stock Exchange of India Ltd BSE Ltd, Exchange Plaza, P.J.Towers, Floor l, BandraKurla Complex, DalalStreet, Bandra (E), Mumbai- 400001 Mumbai- 400 051 Scrip:517421 ScriP: BUTTERFLY Dear Sir. But
Slide 2: Results Presentation Q4 FY19
BUTTERFLY GANDHIMATHI APPLIANCES LIMITED RESULTS PRESENTATION Q4 FY19 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 Launched FY19 3 Financial Overview 4 Q4 FY19 Operating Performance & Highlights 5 12M FY19 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 FY17-19 KITCHEN APPLIANCES & TABLE TOP WET GRINDERS SALES OF BRANDED NOW PRESENT IN ALL PRODUCTS IN FY19 EXCLUSIVE STATES IN INDIA CRORE DISTRIBUTORS ACROSS INDIA NET DEBT / EQUITY REVENUE GROWTH OF FY19 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 900 764 725 46% 652 502 39% 529 541 46% 16% 44% 402 244 100% 100% 61% 84% 54% 54% 100% 56% 100% FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 Branded Sales Govt Order www.butterflyindia.com 9
Slide 11: Branded Retail Sales
Branded Retail Sales Branded Net Sales (Rs. crore) Through Institutions CAGR 13.07% • Tie ups with Gas dealers of IOCL, BPCL and HPCL 652 541 • Customers for new gas connection are provided with co- 461 448 468 branded products manufactured by BGMAL 398 402 330 244 Through Retail Marketing • Network
Slide 12: Augmenting Organic Growth
Augmenting Organic Growth Increased Product Categories For Wider Product Portfolio And Higher Market Share Product Categories (Nos.) SKUs (Nos.) 651 687 619 500 552 554 20+ 20+ 20+ 20+ 20+ [VALUE]+ 320 250 250 6 6 6 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018
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 Juicer Hand Blender Electric Iron Vacuum Flasks 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 FY19
NEW PRODUCTS LAUNCHED 2 FY 19 www.butterflyindia.com
Slide 17: New Product Launches: LPG Stoves, Mixer Grinders, Wet Grinders
NEW PRODUCT LAUNCHES during FY 2018-19 LPG Stoves / Mixer Grinder / Table Top Wet Grinder Curve 2B SS LPG Stove Mixer Grinder – Tulip – 4J 750 w Mixer Grinder – Tornado 3J 750 w Curve 2B SS LPG Stove Cyclone Mixer Pebble Mixer grinder 3J Wet Grinder - Grinder - 750 W Wet Grinder - Rhino 2.0 – Red Rh
Slide 18: New Product Launches: Non-Stick Cookware
NEW PRODUCT LAUNCHES – Non-Stick Cookware Items Matchless – Sauce Pan with Glass Matchless-Casserole 250 mm Lid – 250 mm Matchless Gold Fry Pan 240 mm with Glass Lid Matchless - Handi Gold – 2.5 ltr Matchless – Kadai with Glass Lid Matchless – Omni Tawa 280 mm 240 mm www.butterflyindia.com 17
Slide 19: New Product Launches: Electric Chimney and Power Hob
NEW PRODUCT LAUNCHES – Electric Chimney and Power Hob Electric Chimney Fortis 60 Electric Chimney Fusion 60 Electric Chimney Aura 60 Electric Chimney Sleek 60 Black Electric Chimney Electric Chimney Turbo 2.0 Power Hob Curve + 90 and 60 Matchless + 90 and 60 www.butterflyindia.com 18
Slide 20: New Product Launches: Hand Blender and Hand Mixers
NEW PRODUCT LAUNCHES – Hand Blender and Hand Mixers Hand Blender – HPB-17 Hand Blender – HBE-17 Hand Mixer – Swril 400 Hand Mixer Jazz 300 Hand Mixer Swing 300 www.butterflyindia.com 19
Slide 21: New Product Launches: Toasters, Sandwich Maker, Kettle
NEW PRODUCT LAUNCHES – Slice Toasters, Sandwich Maker and Electric Kettle Slice Toaster – BSTP 17-18 Sandwich Maker BSWR17 Slice Toaster BSTE-17-18 Sandwich Maker BSWG17 Water Kettle – EKN 1.5 Electric Kettles – Wave 1.2 www.butterflyindia.com 20
Slide 22: New Product Launches: Chopper and Blender
NEW PRODUCT LAUNCHES – Chopper and Blender www.butterflyindia.com 21
Slide 23: Financial Overview
Financial Overview 3 www.butterflyindia.com
Slide 24: Abridged Profit & Loss Statement
Abridged Profit & Loss Statement Rs. crore FY 2017 * FY 2018 * FY 2019 * Particulars FY 2015 FY 2016 FY 2017 Ind-AS Ind-AS Ind-As The Revenue Total Net Revenues (Incl. OI) 533.3 906.3 405.5 406.6 542.1 654.0 has grown - Branded Net Revenues 447.5 468.2 402.3 404.9 540.5 652.0 across all the - Govern
Slide 25: Abridged Balance Sheet
Abridged Balance Sheet Rs. In crore Long term Sources of Funds FY 2015 FY 2016 FY 2017 FY 2017** FY 2018** FY 2019** debt has reduced a) Shareholders’ Funds 225.6 238.1 179.9 175.2 180.2 189.4 from last year due to repayment b) Non-current Liabilities of loans 77 52.8 68 62.5 45.8 42.2 (NCL) - Long-
Slide 26: Abridged Balance Sheet
Abridged Balance Sheet Rs. In crore Inventory increased due to higher Application Of Funds FY 2015 FY 2016 FY 2017 FY 2017 ** FY 2018** FY 2019 ** growth. a) Non-current Assets 175.4 173.6 176.0 177.9 171.6 176.4 Inventory number of days has a) Current Assets 393.5 413.6 231.3 240.5 296.0 287.5 redu
Slide 27: Performance Track Record - Annualized
Performance Track Record - Annualized Total Revenue (Rs crore) EBITDA (Rs crore) 652 63 73 65 62 541 44 48 461 448 468 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 -57 6 -56 NOTE : * FY11 was for period of 9 months ended
Slide 28: Key Financials
Key Financials @ FY11 was for period of 9 months ending 31.03.2011. The figures above represent the annualized numbers in order to facilitate a comparison . Net Debt - Equity Ratio Net Worth (Rs crore) 1.6 224 226 229 201 1.2 175 180 189 1.1 0.7 0.7 0.8 0.8 0.5 76 41 0.0 www.butterflyindia.com 27
Slide 29: Q4 FY19 Operating Performance & Highlights
Q4 FY19 Operating 4 Performance & Highlights www.butterflyindia.com
Slide 30: Q4 Performance highlights
Q4 FY18 – Performance highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) 149.5 - 110.4 10.88 - 10.36 Q4FY18 Q4FY19 Q4 FY18 Q4 FY19 Branded Sales • Total Income during Q4 FY19 stood at Rs. 149.53 crore, as against Rs.110.40 crore in Q4 FY18 PBT (Rs crore) [VALUE]0 • Branded net sales was hi
Slide 31: Key Highlights
Key Highlights Branded Net Sales (Rs. in Crore) Product Q4 FY19 Q4 FY18 Q3 FY19 Y-o-Y Growth Q-o-Q Growth Branded Market Kitchen Appliances 114.4 83.5 123.4 37.0% -7.3% Cooker/Cookware 22.0 18.6 30.7 18.0% -28.5% Others 13.1 8.3 6.6 58.1% 98.8% Grand Total 149.5 110.4 160.7 35.4% -7.0% • Overall the
Slide 32: 12 Months FY19 Operating Performance & Highlights
12 Months FY19 Operating 5 Performance & Highlights www.butterflyindia.com
Slide 33: 12 Months FY19 Performance highlights
12 Months FY19 – Performance highlights Total Net Revenue (Rs. Crore) EBITDA (Rs. crore) 652.0 47.7 540.6 36.3 - 12M FY18 12M FY19 12M FY18 12M FY19 Branded Sales • Total Income during the FY 2018-19 stood at Rs.652.0 PBT (Rs crore) crore, as against Rs.540.6 crore in FY 2017-18 12.4 • Branded sales
Slide 34: Key Highlights
Key Highlights Branded Gross Sales (incl. Excise Duty) (Rs in Crore) Product FY 2018-19 FY 2017-18 Y-o-Y Growth Branded Market Kitchen Appliances 514.3 434.4 18.4% Cooker/Cookware 104.4 84.7 23.3% Others 33.3 30.2 10.1% Grand Total 652.0 549.3 18.7% Less: Excise Duty 8.8 Grand Total 652.0 540.6 20.6
Slide 35: Outlook
Outlook 5 www.butterflyindia.com
Slide 36: Outlook
Outlook The objective and focus of the plan is completely on delivering better Profit for FY 2019-20 1. Balance Sheet efficiency / liquidity a. Continue to Focus on better control on Trade Receivables. b. Continue to Increase in supplier credit days c. Reduction in Inventory levels through optimised
Slide 37: Outlook
Outlook 12M FY19 CATEGORY MARKET ENVIRONMENT OUTLOOK CONTRIBUTION • Post GST implementation, a buoyant Retail channel demand is 80 - 85% of festive season is performed well. Retail Channel Sales Branded Sales in expected to good in the 12M FY19 • Same level expected to continue in coming Financial Y
Slide 38: Thank you
Thank you any queries please contact Mr.V.M.G.Mayuresan, vmgm@butterflyindia.com
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