V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q4 FY2013 Earnings Presentation
23 slides from V-guard Industries's earnings presentation, 2013
Slide 1: V-Guard Industries Q4 FY2013 Earnings Presentation
V-Guard Industries Q4 FY2013 Earnings Presentation
Slide 2: Disclaimer
Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 3: Table of Contents
Table of Contents Company Overvie w MD’s Message Financial Highlights – Q4 & FY2013 Segment -wise /Geogra phica l Breakup of Revenues Outlook About V-Guard Industrie s Strong Financia l Performance (FY08 – FY13) Broad-base d Growth across Segments (FY08 – FY13) Market Share Across Product Segments
Slide 4: Company Overview
Company Overview • Electronics - Stabilizers, UPS and Digital UPS Comprehensive portfolio • Electricals - Pumps, House Wiring and Industrial Cables, Electric Water Heaters, Fans catering to the mass • Other launches include Solar Water Heaters, Induction cooktops, Switchgears consumption market • Ho
Slide 5: Managing Director's Message
Managing Director’s Message Commenting on the performance for FY2013, Mr. Mithun Chittilappilly, Managing Director – V- Guard Industries Limited said, “This has been another good year for the Company recording sales growth of 41% YoY while PAT grew 24% in FY13. The growth has been broad-based across
Slide 6: Financial Highlights (Q4 FY2013)
Financial Highlights (Q4 FY2013) Total Income (Rs. crore) Expenditure (Rs. crore) 379 362 273 243 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13 EBITDA (Rs. crore) PAT (Rs. crore) 34 21 19 9 Q4 FY12 Q4 FY13 Q4 FY12 Q4 FY13
Slide 7: Financial Highlights (Q4 FY2013)
Financial Highlights (Q4 FY2013) Key ratios (%) Q4 FY13 Q4 FY12 EBITDA Margin 5.4% 12.4% Net Margin 2.4% 7.0% COGS/ Total Operating Income 75.4% 71.7% Ad Expenditure/Total Revenues 6.3% 2.3% Staff Cost/ Total Operating Income 4.8% 5.9% Other Expenditure/ Total Operating Income 10.5% 10.3% EPS (Rs.)
Slide 8: Financial Highlights (FY2013) – P&L Perspective
Financial Highlights (FY2013) – P&L Perspective Total Income (Rs. crore) Expenditure (Rs. crore) 1262 1360 881 965 FY12 FY13 FY12 FY13 EBITDA (Rs. crore) PAT (Rs. crore) 114 63 51 96 FY12 FY13 FY12 FY13 Key ratios (%) FY13 FY12 EBITDA Margin 8.3% 9.9% Net Margin 4.6% 5.3% COGS/ Total Operating Incom
Slide 9: Financial Highlights (FY2013) – B/S Perspective
Financial Highlights (FY2013) – B/S Perspective Balance Sheet Snapshot (Rs. crore) 31 March 2013 31 March 2012 Net worth 261.0 211.0 Total debt 165.4 101.4 o Working capital 126.2 93.7 o Term loan 39.2 7.7 Acceptances 94.9 32.8 Fixed Assets 151.5 130.6 Cash & Cash Equivalents 15.1 3.3 Key Ratios FY1
Slide 10: Segment-wise Breakup of Revenues - Quarterly
Segment-wise Breakup of Revenues - Quarterly Segment Products Q4 FY2013 Contribution (%) Q4 FY2012 Contribution (%) YoY growth (%) Stabilizers 57.9 15.3% 51.0 18.6% 13.6% Electronics Standalone UPS 11.5 3.0% 10.7 3.9% 8.2% Digital UPS 57.7 15.2% 30.5 11.2% 88.8% Segment Total 127.1 33.6% 92.2 33.7%
Slide 11: Segment-wise Breakup of Revenues - Yearly
Segment-wise Breakup of Revenues - Yearly Segment Products FY2013 Contribution (%) FY2012 Contribution (%) YoY growth (%) Stabilizers 237.8 17.5% 192.5 20.0% 23.5% Electronics Standalone UPS 48.3 3.6% 41.9 4.3% 15.3% Digital UPS 173.3 12.7% 72.7 7.5% 138.4% Segment Total 459.4 33.8% 307.0 31.8% 49.6
Slide 12: Geographical Breakup of Gross Revenues
Geographical Breakup of Gross Revenues Q4 FY2013 Contribution Q4 FY2012 Contribution YoY growth Region (Rs. cr.) (%) (Rs. cr.) (%) (%) 287.7 75% 222.66 80% 29% South Non 95.7 25% 54.20 20% 77% South 383.48 100% 276.86 100% 39% Total FY2013 Contribution FY2012 Contribution YoY growth Region (Rs. cr.)
Slide 13: Outlook
Outlook • Household consumption expected to grow at a significant pace over the next five years • Continuing power deficit in South India to augment sales of Stabilizers, UPS and Inverters Strong demand outlook • Boom in residential real estate markets in South India • Investments towards establishi
Slide 14: About V-Guard Industries
About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, incepted in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a mult
Slide 15: Strong Financial Performance FY08-13
Strong Financial Performance FY08-13 Revenue EBITDA and EBITDA Margins 11.1% 11.1% 11.4% 1600.0 120 10.3% 12.0% 1,360.0 9.7% 11.0% 1400.0 100 10.0% 1200.0 9.0% 964.6 80 8.3%8.0% Rs. crore 1000.0 Rs. crore 7.0% 800.0 699.2 60 6.0% 600.0 5.0% 430.0 40 4.0% 400.0 278.5 317.1 3.0% 114.0 20 2.0% 30.8 35.
Slide 16: Strong Financial Performance FY08-13
Strong Financial Performance FY08-13 ROE ROCE Net Worth D/E 300 0.81 0.90 25.9 24.1 0.70 0.52 0.63 0.80 23.1 250 0.70 17.6 19.1 24.1 200 0.60 0.30 Rs. crore 16.9 23.1 0.21 0.50 20.5 150 18.0 0.40 100 0.30 13.7 0.20 FY2008 117.8 FY2009 126.5 FY2010 141.5 FY2011 172.0 FY2012 210.6 FY2013 261.3 12.4 50
Slide 17: Broad-based Growth across Segments FY08-13
Broad-based Growth across Segments FY08-13 Segment Products FY08 Contribution (%) FY13 Contribution (%) CAGR(%) Stabilizers 93.7 35.3% 237.8 17.5% 20.5% Electronics Standalone UPS 16.9 6.4% 48.3 3.6% 23.4% Digital UPS 0.0 0.0% 173.3 12.7% NA Segment Total 110.6 41.6% 459.4 33.8% 32.9% Pumps 56.1 21.
Slide 18: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* V-Guard Organized Production Distribution Channel Product Key Players Market Model Strategy Organised Unorganised Total Share Bluebird, Capri, Consumer Durable 400.00 800.00 1200.00 51% Logicstat, 100% Outsourced stores, Electrical and Pre
Slide 19: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* V-Guard Organized Production Distribution Channel Product Key Players Market Model Strategy Organised Unorganised Total Share Crompton Electrical and hardware Greaves, 900.00 1100.00 2000.00 15% 90% Outsourced Stores, Pump and Pipe Kirlosk
Slide 20: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* V-Guard Organized Production Distribution Channel Product Key Players Market Model Strategy Organised Unorganised Total Share Numeric, 160.00 240.00 400.00 20% APC, Outsourced Consumer Durable stores Emerson UPS Consumer Durable Microtek,
Slide 21: New Product Launches
New Product Launches Induction Cooker Switchgears & DBs • Successful launch of new products in the Kerala market • Induction cooktops launched in the Karnataka market last quarter • Revenues of Rs. 15 crore from induction cooktops and Rs. 12 crore from switchgears in FY13 • Delivering gross margins
Slide 22: Production Model
Production Model PVC Cable Factory LT Cable Factory Solar Water Heater Factory Stabilizer Manufacturing Units No. of Product Location Outsourcing Objectives Units Own Manufacturing Facilities • Asset light model outsourcing ~60% products PVC Wiring Cables 2 Coimbatore, Kashipur • Complete control ov
Slide 23: Thank You
THANK YOU