Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q2 FY22 Earnings Presentation
21 slides from Tilaknagar Industries's earnings presentation, Nov 12, 2021
Slide 1: Tilaknagar Industries Ltd. Q2 FY22 Earnings Presentation
Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) 11/12/2021 Earnings Presentation Q2 FY22 (Jul to Sep 2021) Tilaknagar Industries | Q2 FY22 Earnings Presentation 1
Slide 2: Q2 FY22 Performance
Q2 FY22 PERFORMANCE Tilaknagar Industries | Q2 FY22 Earnings Presentation 2
Slide 3: Q2 FY22 Highlights
Q2 FY22 Highlights Strong performance led by brandy Key Performance Highlights (Q2 FY22 vs. Q2 FY21) Volume (in lacs cases) Volumes have grown to 18.22 lacs cases in Q2 FY22 (up 22% Y-o-Y) 18.2 Lockdown 17.2 16.5 Lockdown Strong NSR of Rs. 1,081 per case (vs. Rs. 968 per case in Q2 impact impact
Slide 4: Management commentary on Q2 FY22 results
Management commentary on Q2 FY22 results From the desk of Mr. Amit Dahanukar, Chairman & Managing Director We are glad to share a very strong set of numbers despite an uncertain and challenging environment, not only in terms of Covid-19 and related state-specific restrictions but also challenges o
Slide 5: Strong Q2 FY22 performance…
Strong Q2 FY22 performance… …operating margin expansion owing to operating leverage Y-o-Y Q-o-Q Y-o-Y Q2 FY22 Q2 FY21 growth Q1 FY22 growth H1 FY22 H1 FY21 growth Volumes (in lacs): Brandy volumes 17.04 13.79 23.5% 10.42 63.5% 27.46 19.24 42.7% Others 1.18 1.10 7.4% 0.67 75.2% 1.85 1.62 13.9% Total
Slide 6: Extract of Income Statement
Extract of Income Statement Y-o-Y Q-o-Q Y-o-Y (Rs. Crs) Q2 FY22 Q2 FY21 growth Q1 FY22 growth H1 FY22 H1 FY21 growth Revenue from operations (Gross) 445.3 359.9 23.7% 324.1 37.4% 769.5 545.3 41.1% Less: Excise Duty 244.2 227.5 7.4% 188.8 29.3% 433.1 356.5 21.5% Revenue from Operations (Net) 201.1 13
Slide 7: Extract of Balance Sheet
Extract of Balance Sheet (Rs. Crs) As at Sep-21 As at Mar-21 (Rs. Crs) As at Sep-21 As at Mar-21 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant and Equipment 451.5 467.8 Equity Share Capital 140.3 125.4 Capital Work-in-Progress 100.2 100.1 Other Equity -149.0 -181.2 Right of
Slide 8: Extract of Cash Flow Statement
Extract of Cash Flow Statement Half year Half year (Rs. Crs) ended Sep-21 ended Sep-20 Cash flow from Operating activities Net profit (Loss) before tax 8.2 -25.5 Adjustment for: Depreciation & Amortisation 16.4 16.7 Provision for non-moving and obsolete inventories 1.0 0.0 Finance Costs 30.8 33.8 In
Slide 9: Company & Industry Overview
COMPANY & INDUSTRY OVERVIEW Tilaknagar Industries | Q2 FY22 Earnings Presentation 9
Slide 10: About the Company
About the Company Largest premium brandy manufacturer in India with presence across all segments of IMFL Manufacturing units across 11 states Share of Brandy as % 16 Owned: 4 units 15+ Brands across products 92% of total volumes Tie-up: 12 units 87% Sales through: 5.45 Volumes (in cases) Share of sa
Slide 11: We sell millions of cases across India
We sell millions of cases across India MANSION HOUSE Mansion House is a millionaire brand (more than 4.4 mn cases sold in FY21) Mansion House is the highest selling premium brandy in India Manufactured across all units A brand with a high brand loyalty driving repeat purchases COURRIER NAPOL
Slide 12: Our strategic focus… the way forward
Our strategic focus… …the way forward Volume growth Market share growth(b) Efficient levels of capacity utilisation 5 year CAGR(a) of 14.4% – regions Continued focus on brandy Pernod Ricard agreements enables contributing 70%+ of volumes (4.4% when Market share (as % of brandy) growth effici
Slide 13: MHB and MHB Brandy segment growing faster…
MHB and MHB Brandy segment growing faster… …than overall Brandy, Whiskey and IMFL MHB vs. Industry Growth (a) MHB market share as % of brandy (a) MHB market share as % of IMFL (a) Category CAGR Market share growth of 33% over 5 years Market share growth of 25% over 5 years MHB 4.4% Relevant Brandy S
Slide 14: Bottling arrangement with Pernod Ricard
Bottling arrangement with Pernod Ricard Bottling at Shrirampur Plant in Maharashtra 10 year bottling agreement leading to near-full capacity utilisation Potential for providing grain-based ENA Impact on revenues: FY21 vs. Going forward Tilaknagar Industries | Q2 FY22 Earnings Presentatio
Slide 15: Debt reduction journey…
Debt reduction journey… …working towards near debt-free position by FY24 Debt reduction (Rs. Crs)(a)(b)(c) Debt as of 30-Sep-21(a)(b)(c) 49 1,199 EARC Term Loan 124 Cash Credit 314 Trade Deposits Debt reduced by Rs. 25 crs over 2 quarters 30 Other Debt 543 518 EARC debt is at 9% p.a. EARC balanc
Slide 16: FY21 Financials
FY21 FINANCIALS Tilaknagar Industries | Q2 FY22 Earnings Presentation 16
Slide 17: Improving business fundamentals
Improving business fundamentals Premiumisation strategy to enhance margins and cash flows Total Volumes Sold (mn cases) Brandy Sales (mn cases) 84% 89% 91% 92% 5.92 6.64 6.44 5.45 4.98 5.92 5.86 5.03 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Share of Brandy to total volumes sold NSR per case (Rs.) Rob
Slide 18: Focus on margins and cashflows
Focus on margins and cashflows Most of write-offs impacting EBITDA have been undertaken Net Revenues (Rs. Mn) Gross Profit (Rs. Mn) and Gross Margin (%) 51% 52% 49% 46% 5,778 6,613 6,528 5,488 2,934 3,417 3,006 2,714 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 EBITDA (Rs. Mn) and EBITDA Margin (%) Finan
Slide 19: Financial Summary – Income Statement
Financial Summary – Income Statement (Rs. Mn) FY18 FY19 FY20 FY21 Gross Revenue 12,916 15,255 14,835 14,184 Less: Excise Duty 7,138 8,642 8,306 8,696 Net Revenue 5,778 6,613 6,528 5,488 Gross Profit 2,934 3,417 3,006 2,714 Gross Margin % 51% 52% 46% 49% Employee Costs 220 333 296 252 As % of Net Rev
Slide 20: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic
Slide 21: Thank You
For further information, please contact: Ameya Deshpande Head – Corporate Development & Strategy Email: adeshpande@tilind.com THANK YOU
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