Berger Paints India Limited · NSE:BERGEPAINT
Berger Paints India — Q3 FY25 Earnings Presentation
25 slides from Berger Paints India's earnings presentation, Feb 11, 2025
Slide 1: Cover letter to stock exchanges on investor presentation
CK. EXG/ AG/ 2024-25 11" February, 2025 The Corporate Relationship The Listing Department Listing Department Department National Stock Exchange of — The Calcutta Stock BSE Limited, India Limited Exchange Ltd, 1 Floor, Exchange Plaza, 5" Floor, 7 Lyons Range, Phiroze Jeejeebhoy Towers, Plot No.-C/ 1,
Slide 2: Berger Paints India Limited Earnings Update Call, Q3 FY25
Berger Paints India Limited Earnings Update Call, Q3 FY25 February 11, 2025
Slide 3: A New Home for Innovation
YEARS OF KOwsS & NEW HOME FOR INNOVATION ra OO FGEE
Slide 4: Marking a Milestone
MARKING A MILESTONE New Corporate Office inaugurated on February 10, 2025 by Dr Smt Shashi Panja, Cabinet Minister, West Bengal Department of Industries, Commerce & Enterprise & Department of Women and Child Development and Social Welfare
Slide 5: Q3FY25: Snapshot
Q3FY25 : Snapshot • High single digit volume growth in Decorative segment. Sequential uptick both in volume and value growth • Protective business had a strong performance in the quarter • Continued to gain market share in Q3. Current market share in excess of 20% • Operating margin remained in the
Slide 6: Standalone: Q3 FY25 Topline Performance
Standalone : Q3 FY25 Topline Performance Growth % • The company recorded high single digit volume growth Volume impacted by inflation & muted consumer sentiment in 7.7 % discretionary spends 7.4% • Volume value gap mainly on account of • product price decrease undertaken in earlier quarters • Strong
Slide 7: Standalone: Sustained growth trend
Standalone : Sustained growth trend YTD Dec FY25 : Volume Sales CAGR% 15.6 9.3 11.8 2 yrs 3 yrs 4 yrs YTD Dec FY25 : Value Sales CAGR% 16.7 10.4 Maintained strong 3.6 compounded growth consistently over the 2 yrs 3 yrs 4 yrs past 3/4 years
Slide 8: Sustained Healthy Gross Margin %
Sustained Healthy Gross Margin % 40.0 40.3 40.3 40.4 39.6 39.8 39.4 39.3 35.3 34.5 33.8 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25
Slide 9: Standalone: Operating Margin % Movement
Standalone : Operating Margin % Movement 18.8 17.2 16.5 16.7 15.8 16.2 15.6 15.0 14.5 13.4 12.9 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Operating Margin % improved sequentially
Slide 10: Standalone Q3 FY25: Operating Profit Growth %
Standalone Q3 FY25 : Operating Profit Gross Margin contracted marginally over corresponding period last year on account of Growth % • Product price reduction undertaken in last financial year (2.8)% • Currency depreciation in the current quarter • Some inventory impact of monomer price increase . (4
Slide 11: Financial Results – Standalone Q3 FY25
Financial Results – Standalone Q3 FY25 ₹ Crores Q3 FY25 % Q3 FY24 % Growth % Total income from operations 2584.76 2,574.20 0.4 Material Cost 1,555.26 60.2 1535.55 59.7 Employee Cost 146.40 5.7 136.72 5.3 Other expenses 465.61 18.0 472.35 18.3 PBDIT (Excluding Other Income) 417.49 16.2 429.58 16.7 (2
Slide 12: Financial Results – Standalone YTD Dec FY25
Financial Results – Standalone YTD Dec FY25 ₹ Crores YTD Dec YTD Dec FY25 % FY24 % Growth % Total income from operations 7821.77 7753.79 0.9 Material Cost 4708.63 60.2 4659.65 60.1 Employee Cost 457.74 5.9 408.26 5.3 Other expenses 1370.77 17.5 1339.35 17.3 PBDIT (Excluding Other Income) 1284.63 16.
Slide 13: Decorative Business: Q3FY25
Decorative Business : Q3FY25 o Decorative business recorded high single digit volume growth o Exterior Premium segment did well in the quarter o CC, Waterproofing & Wood coatings products had a robust performance o Aggressive Network expansion continued • Added 2000+ retail touchpoints • Installed a
Slide 14: Scaling High: Growth Products
Scaling High : Growth Products
Slide 15: Complete Waterproofing Solutions
Complete Waterproofing Solutions
Slide 16: Experience Business Outlet
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Slide 17: Berger Exclusive Stores - Ultimate paint destination
Berger Exclusive Stores - Ultimate paint destination
Slide 18: Awards & Accolades
Awards & Accolades ASSOCHAM Business Excellence Awards 2024 ICC Environment Excellence Award 2024
Slide 19: Industrial Business: Q3FY25
Industrial Business : Q3FY25 Protective Coating business continued its leadership position with strong performance in the quarter aided by infrastructure push from the government Automotive, General Industrial & Powder Coatings business line had a muted growth
Slide 20: Net Cash
Net Cash Improved Net cash position in the quarter Jun’24 : Rs 692 crs Dec’24 : Mar’24 : Rs 377 crs Rs 341 crs Sep’24 : Rs 242 crs
Slide 21: Financial Results- Consolidated Q3FY25
Financial Results- Consolidated Q3FY25 ₹ Crores ₹ Crores Q3FY25 % Q3FY24 % Growth % Total income from operations 2975.06 2881.83 3.2 Material Cost 1736.87 58.4 1698.09 58.9 Employee Cost 199.83 6.7 181.50 6.3 Other expenses 566.63 19.0 522.20 18.1 PBDIT (Excluding Other Income) 471.73 15.9 480.04 16
Slide 22: Financial Results- Consolidated YTD Dec FY25
Financial Results- Consolidated YTD Dec FY25 ₹ Crores ₹ Crores YTD Dec FY25 % YTD Dec FY24 % Growth % Total income from operations 8840.68 8678.64 1.9 Material Cost 5212.86 59.0 5150.59 59.3 Employee Cost 613.18 6.9 538.64 6.2 Other expenses 1586.32 17.9 1478.97 17.0 PBDIT (Excluding Other Income) 1
Slide 23: Performance - Consolidated: Q3FY25
Performance - Consolidated: Q3FY25 Company’s overseas subsidiary, Bolix S.A, Poland had a steady topline growth in the quarter. However, profitability was muted on account of some one-off project expenses. Company’s overseas subsidiary, BJN Nepal had a robust turnaround performance on topline ai
Slide 24: Business Outlook
Business Outlook • We remain optimistic on decorative business improving its growth sequentially on the back of : • Likely improvement in consumer sentiment fuelled by favourable budget announcements and adequate monsoon • Volume - value gap expected to bridge due to weaning of price decrease impact
Slide 25: Disclaimer
Disclaimer This presentation has been prepared by Berger Paints India Limited for information purposes only. The forward looking statements, if any, involve risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the statements.