Kajaria Ceramics Limited · NSE:KAJARIACER
Kajaria Ceramics — Q2 FY22 Earnings Presentation
35 slides from Kajaria Ceramics's earnings presentation, Oct 22, 2021
Slide 1: Outcome of Board Meeting, October 22, 2021
YEARS OF Kajaria TRANSFORMATION October 22, 2021 BSE Limited The National Stock Exchange of India Ltd. P.J. Towers Exchange Plaza Dalal Street Sandra Kurla Complex Mumbai - 400 001 Sandra (E) Mumbai - 400 051 Dear Sir/Madam, Re.: Outcome of the Board Meeting and announcements pursuant to the SEBI (L
Slide 2: Annexure-A: Proposed wholly-owned subsidiary in U.A.E.
YEARS OF TRANSFORMATION Kajaria Annexure-A Details regarding incorporation of a wholly-owned subsidiary company in U.A.E. Sr. Particulars Details No. 1. Name of the target entity, details in brief The Board of Directors ('the Board') of the such as size, turnover etc. Company has approved investment
Slide 3: Annexure-A: Proposed U.A.E. subsidiary details (continued)
YEARS OF TRANSFORMATION Kajaria 8. Cost of acquisition or the price at which At par value, subject to maximum of Rs. 5 crores the shares are acquired and applicable laws in India I U.A.E. 9. Percentage of shareholding/control The Company will subscribe 100% shares of the acquired and/or number of sh
Slide 4: Independent Review Report on Standalone Unaudited Results
Independent Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Kajaria Ceramics Limited 1. We
Slide 5: Independent Review Report (continued)
Independent Year to Date Results of Kajaria Ceramics Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (con 5. Based on our review conducted as above, except for the possible effects of the matter described in previous
Slide 6: Statement of Unaudited Standalone Financial Results
Kajaria STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS EQRIHE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2021 (~ in crores, except per share data) Quarter ended Half Year ended Year ended PARTICULARS 30 September 2021 30 June 2021 30 September 2020 30 September 2021 30 September 2020 31 March 202
Slide 7: Standalone Statement of Assets and Liabilities
Kaj~I:l~ STA_NQALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2021 /~ in crores) Asal As at PARTICULARS 30 Sentember 2021 31 March 2021 /Unaudited) /Audited) ASSETS (1) NC>n-current assets (a) f'ropertv, plant and equipment 644.69 659.57 (bl Hight-of-use assets 26.58 26.19 (C) Capital
Slide 8: Unaudited Standalone Statement of Cash Flows
Kajaria Unaudited Standalone Statement of cash flows (f in crores) Half year ended Year ended 30 September 2021 31 March 2021 /Unaudited\ /Audited I A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 202.96 405.57 Adjusted for: Depreciation and amortisation expense 37.82 73.91 Interest income
Slide 9: Notes to Standalone Financial Results
Kajaria \ Notes: 1 The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 22 October 2021 and have undergone 'Limited Review' by the statutory auditors of the Company. 2 The Board of Directors have
Slide 10: Review Report on Consolidated Unaudited Results
Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) To the Board of Directors of Kajaria Ceramics Limited 1. We have revi
Slide 11: Review Report on Consolidated Results (continued)
Unaudited Quarterly Financial Results and Year to Date Results of Kajaria Ceramics Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) 4. As explained in note 3 to the accompanying consolidated financial results, the Hold
Slide 12: Annexure 1: List of Subsidiaries
Unaudited Quarterly Financial Results and Year to Date Results of Kajaria Ceramics Limited pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) Annexure 1 List of subsidiaries included in the Statement 1. Jaxx Vitrified Private Li
Slide 13: Statement of Unaudited Consolidated Financial Results
Kajaria STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEM6~1L2021 (f in crores, except per share data) Quarter ended Half Year ended Year ended PARTICULARS 30 September 2021 30 June 2021 30 September 2020 30 September 2021 30 September 2020 31 March
Slide 14: Consolidated Statement of Assets and Liabilities
Kai!!![~ CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2021 Asat As at PARTICULARS 30 Sentember 2021 31 March 2021 /Unaudited\ /Audited\ (1) Non-current assets (a) Property, plant and equipment 1,126.82 1,152.40 (b) Hight-of-use assets 28.89 28.79 (c) Capital work-in-progress 2
Slide 15: Unaudited Consolidated Statement of Cash Flows
Kajaria Unaudited Consolidated Statement of cash flows (f in crores) Half year ended Year ended 30 September 2021 31 March 2021 11 lnauditod\ lA11diterll A. CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 213.62 412.74 Adjustments for : Depreciation and amortisation expense 54.67 106.67 Inter
Slide 16: Consolidated Segment Wise Revenue, Results, Assets and Liabilities
Kajaria UNAU~DITED CONSOLIDATED SEGMENT WISE REVENUE, RESULTS. ASSETS AND LIABILITIES FOR THE QUARTERAND HALF YEAR ENDED 30 SEPTEMBER 2021 i!.!!1crores,except per share datll_)_ Quarter ended Half Year ended Year ended PARTICULARS 30 September 2021 30 June 2021 30 September 2020 30 September 2021 30
Slide 17: Notes to Consolidated Financial Results
Kajaria Notes: 1 The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 22 October 2021 and have undergone 'Limited Review' by the statutory auditors of the Company. 2 The Board of Directors have
Slide 18: Extract of Unaudited Consolidated Financial Results
Kajaria EXTRACT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2021 (~ in crores, except per share data) Quarter ended Half Year ended Quarter ended Sr Particulars 30 September 2021 30 September 2021 30 September 2020 No (Unaudited) (Unaudited) (Unaudite
Slide 19: Additional Disclosure Under Regulation 52(4) - Standalone
YEARS OF TRANSFORMATION Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52(4) OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 For the half year ended September 30, 2021 (Standalone): 1. Credit Rating and Change in Credit rating (if any) Kept at the same level for both
Slide 20: Additional Disclosure Under Regulation 52(4) - Consolidated
YEARS OF TRANSFORMATION Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52(4) OF THE SEBI (LISTING OBLIGATIONS AND DISCLOSURE REQUIREMENTS) REGULATIONS, 2015 For the half year ended September 30, 2021 (Consolidated) : 1. Credit Rating and Change in Credit rating (if any) Kept at the same level for bo
Slide 21: Kajaria Ceramics Limited – Q2 FY22
KAJARIA CERAMICS LIMITED Investor Update – Q2 FY22 October 22, 2021 1/15
Slide 22: Content
Content Chairman’s Message Financial Performance – Q2 FY22 Balance sheet perspective Subsidiaries Income Statement Shareholding Pattern 2/15 Investor Update Q2 FY22
Slide 23: Chairman's Message
Chairman’s Message The average Indian has cast away his apprehensions of the pandemic and the fallout therefrom. After a span of nearly 18 months, he appears more confident of a promising tomorrow. With the rapid pace of vaccination witnessed in the country, we have so far kept the third wave at bay
Slide 24: Tile Volume Data (consolidated)
Tile VolumeData (consolidated) Production Growth (MSM) - Q2 FY22 Production Growth (MSM) - H1 FY22 20 17.56 31.55 15.88 30 15 5.62 9.03 4.51 20 17.41 10 4.61 11.37 11.94 10 22.52 5 12.80 0 0 Q2 FY21 Q2 FY22 H1 FY21 H1 FY22 Own Manufacturing Subsidiaries Own Manufacturing Subsidiaries Sales Growth (M
Slide 25: Revenue Growth - consolidated
Revenue Growth - consolidated Rs. / Crores 1600 1535.21 1000 973.55 21.89 16.53 111.42 74.44 800 324.92 210.36 1200 712.51 Plywood Plywood 8.59 990.07 52.95 11.06 Sanitary ware / 70.34 Sanitary ware / 600 Faucets 322.43 Faucets 121.00 209.07 Outsourcing (Tiles) Outsourcing (Tiles) 800 178.08 147.58
Slide 26: Profitability - Consolidated
Profitability - Consolidated PBT Rs. / Crores PAT 200 156.74 170 160 119.04 116.14 120 120 89.12 80 70 40 20 0 Q2 FY21 Q2 FY22 -40 Q2 FY21 Q2 FY22 -30 159.20 150 250 213.62 200 150 100 100 85.49 62.02 50 50 H1 FY21 H1 FY22 H1 FY21 H1 FY22 6/15 Investor Update Q2 FY22 Refer Slide 13 for detailed Inco
Slide 27: EBITDA / EBITDA Margin (consolidated) – quarterly progression
EBITDA / EBITDA Margin (consolidated) – quarterly progression 193 47% 190.93 181.77 180.49 168 37% 143 143.69 118 Rs./ Crores 27% 93 21.68% 20.17% 20.04% 80.42 68 18.54 17% 14.32% 43 7% 18 -7 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 -3% EBITDA (Rs. / Crores) EBITDA Margin (%) 7/15 Investor Update Q2
Slide 28: Key Ratios (consolidated): Net Debt
Key Ratios(consolidated)………… Net Debt (Rs. Crore) * Net Debt Equity(X) * 200 0.20 100 0.10 0 Mar-19 Mar-20 Mar-21 Sep-21 -100 0.00 -107 -132 Mar-19 Mar-20 Mar-21 Sep-21 -200 -0.06 -300 -0.10 -0.08 -349 -400 -0.20 -0.18 -500 -473 -0.23 -600 -0.30 * Net of cash and cash equivalents 8/15 Investor Updat
Slide 29: Key Ratios (consolidated): Working Capital and ROE
Key Ratios(consolidated) Working Capital (Rs. Crore) Return on Equity (Avg.) 600 513 500 440 475 432 400 406 409 397 373 300 309 30 227 200 239 207 100 0 Mar-19 Mar-20 Mar-21 Sep-21 20 17.19 Debtors Inventory Creditors 15.53 16.33 15.49 120 Working Capital (Days) 10 100 73 80 57 56 60 50 40 0 Mar-19
Slide 30: Subsidiaries
Subsidiaries A. JAXX VITRIFIED Jaxx Vitrified is based in Morbi (Gujarat). Kajaria has 87.37% stake in the same. Jaxx had combined annual capacity of 7.60 MSM of polished vitrified tiles. Jaxx has operated at optimum capacity during Q2 FY22. B. VENNAR CERAMICS Vennar is based in Vijayawada (Andhra P
Slide 31: Subsidiaries
Subsidiaries D. KAJARIA TILES PRIVATE LIMITED Kajaria Tiles (a wholly owned subsidiary) has commissioned a manufacturing facility of glazed vitrified tiles with a capacity of 5.00 MSM p.a. in Andhra Pradesh and started commercial production in September 2019. Plant has operated at 88% capacity in Q2
Slide 32: Expansions on card
Expansions on card…. A. Gailpur Plant (Rajasthan) The company would be adding 4.20 msm of ceramic floor tiles capacity at its Gailpur location. The same is expected to be completed by March 2022. Estimated cost for this expansion is Rs. 60 crore approx. B. Srikalahasti Plant (Andhra Pradesh) The com
Slide 33: Income Statement - Financial highlights
Income Statement Financial highlights (Rs / Crores) Q2 FY22 Q2 FY21 Growth H1 FY22 H1 FY21 Growth Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Net Sales 862.20 973.55 650.13 712.51 33% 37% 1361.87 1535
Slide 34: Shareholding Pattern
Shareholding Pattern As on 30th Sep. 2021 Equity Shares Outstanding – 159.17 millions Shareholding 15.02% NRI's Public / Others 0.45% Promoters 47.51% 37.02% FIs /FPIS / Mutual Funds 14/15 Investor Update Q2 FY22
Slide 35: About Us
About Us Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 8th* largest in the world. It has present annual capacity of 70.40 mn. sq. meters presently, distributed across eight plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur and one at Malootana in