Stove Kraft Ltd. · NSE:STOVEKRAFT
Stove Kraft — Q3 FY2024 Earnings Presentation
30 slides from Stove Kraft's earnings presentation, Feb 9, 2024
Slide 1: Exchange filing cover letter for investor presentation
09 February 2024 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543260 NSE Symbol: STOVEKRAFT Dear Sir / Madam, Sub: Investor Presentation
Slide 2: Stove Kraft Limited Q3 & 9MFY24 Investor Presentation
STOVE KRAFT LIMITED Q3 & 9MFY24 INVESTOR PRESENTATION
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Stove Kraft Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or induce
Slide 4: Q3 & 9MFY24 Financial Performance
“ ” The only way to do great work is to love what you do - Steve Jobs Q3 & 9MFY24 FINANCIAL PERFORMANCE
Slide 5: Macro Economy Update
Macro Economy Update Aluminium 3,500.00 Growth outlook for Global India’s retail inflation (CPI) at 3,000.00 Economy is sluggish 5.69% in Dec’23 2,500.00 2,000.00 1,500.00 1,000.00 Growth in Indian Economy is Core Inflation at 3.80% in largely driven by manufacturing, Dec’23 – Stability at RM Price
Slide 6: Q3 & 9MFY24 Key Operational Highlights
Q3 & 9MFY24 Key Operational Highlights 01 Significant volume growth of 7% at 9M YoY Comparison 02 Double digit volume growth across product categories except LED on YoY for Quarter 3 03 Improved Gross Margin at 36.9% in 9M YoY, increased by 15.79% as compared to same period Last year Quarterly Updat
Slide 7: Q3 FY24 Performance (Y-o-Y)
Q3 FY24 Performance (Y-o-Y) Q3FY24 Q3FY24 Gross Q3FY24 Q3FY24 Revenues Profit EBITDA PAT INR 361.6 crores INR 139.2 crores INR 30.1 crores INR 6.8 crores +11.4% +28.2% +18.3% -13.3% Q3 FY24 growth in Product Category Channel Breakup: Q3 FY24 Val Growth Vol Growth Product Category (Y-o-Y) (Y-o-Y) 5.8
Slide 8: 9M FY24 Performance (Y-o-Y)
9M FY24 Performance (Y-o-Y) 9MFY24 9MFY24 Gross 9MFY24 9MFY24 Revenues Profit EBITDA PAT INR 1039.1 crores INR 383.3 crores INR 94.0 crores INR 31.5 crores +3.3% +15.8% +1.0% -24.6% 9M FY24 growth in Product Category Channel Breakup: 9M FY24 Val Y-o-Y Vol Y-o-Y Product Category 2.5% Growth Growth 3.
Slide 9: Improving Financial Health
Improving Financial Health Gross Profit Margins EBITDA Margins PAT Margins 35.0% 36.9% 13.2% 9.5% 34.0% 31.9% 32.7% 8.3% 9.0% 7.7% 4.9% 5.0% 2.8% 3.0% 0.5% FY20 FY21 FY22 FY23 9MFY24 FY20 FY21 FY22 FY23 9M FY24 FY20 FY21 FY22 FY23 9M FY24 Reducing Debt-Equity Ratio Reducing Net Debt Improving ROCE 0
Slide 10: Profit & Loss Statement – Q3 & 9M FY24
Profit & Loss Statement – Q3 & 9M FY24 Profit & Loss Statement (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9MFY24 9MFY23 Y-o-Y Revenue from Operations 361.6 324.5 11.4% 379.8 -4.8% 1039.1 1005.8 3.3% Cost of Materials Consumed 213.9 200.0 227.6 624.2 585.0 Purchase of stock-in-trade 30.4 22.3 19.
Slide 11: Updates on Exclusive Retail Channel
Updates on Exclusive Retail Channel Introduced New Store in NCR simultaneously as we continuously strengthen our presence in South India. This will help Brand in reaching out to new territories and customers…! 140 51,688 107,983 ₹ 3.50 Lakhs per store/ Stores units sold Month 140 Stores operational
Slide 12: New Product Launch (1/2)
New Product Launch (1/2) Room Heater Pressure Cooker: New Range of Pressure Knives- Rust Resistance Blade with non slip soft touch Multi utility Complete range Steam Irons, Dry irons & Cookers with multi-utility & better handle for healthy & safe food preparation room heater Hand Garment Steamers er
Slide 13: New Product Launch (2/2)
New Product Launch (2/2) Pigeon Ultra Fast Turbo Pigeon Jumbo Series Cooktop – Pigeon OTG - Air Fryer - comes Chopper - Robust appliance for comes with a 6mm thick Elegant design for your beautiful effective Chopping, Mincing and toughened glass to withstand kitchen with 60 Minutes timer dicing vari
Slide 14: About Stove Kraft Limited
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill ABOUT STOVE KRAFT LIMITED
Slide 15: Key Milestones
Key Milestones Granted trademark Investments by SIDBI Commenced exports to Achieved sales of 9.1 IPO with listing on registrations for Gilma Commenced production at retailers in the USA million units NSE and BSE Harohalli facility 2001 2008 2014 2018 2021 1999 2003 2010 2015 2019 Incorporated Stove
Slide 16: Diverse range of products across consumer preferences
Diverse range of products across consumer preferences… Cookware–Pressure cooker, wonder cast cookware, non-stick cookware, electric rice cookers and titanium hard anodized LPG Stoves Small appliances – Food cookware processors, juicers, hand LED bulbs Massage apparatus blenders, hand mixers, mini Co
Slide 17: State of the Art Manufacturing Facilities with focus on quality
State of the Art Manufacturing Facilities with focus on quality Baddi, Himachal Pradesh Comprising of 13 personnel and tie-ups Dedicated in-house with foreign companies for technology R&D facility enablement Focus on quality is Sourcing of raw materials ISO 9001:2015 certified maintained at all Prod
Slide 18: Professional Management Team
Professional Management Team Mr. Rajendra Gandhi Mr. Ramakrishna Pendyala Mr. Rohit Mago Mr. Vikash Gupta Managing Director Chief Financial Officer Chief Revenue Officer Chief Operating Officer • Founder of Stove Kraft with over 22 years • He holds a bachelor’s degree in commerce • B Sc, Government
Slide 19: Backed by Experienced Board
Backed by Experienced Board Mr. Rajendra Gandhi Mrs. Sunita Gandhi, Mrs. Neha Gandhi, Mr. Natrajan Ramakrishna Managing Director Non-Executive Director Executive Director Independent Director • Founder of Stove Kraft with over 22 years of • She is promoter of the Company and • Holds a Bachelor’s Deg
Slide 20: Shift in Consumption Patterns and Favorable Governments Policies
Shift in Consumption Patterns and Favorable Governments Policies Indian Consumer Appliance Market expected to grow @CAGR of ~9% Key Growth Drivers (INR Bn) Indian Appliance and Kitchen Appliances Market Consumer Electronics (ACE) Market LCA SCA Non Stick Cookware 01 Moving towards Aspirational Lifes
Slide 21: Indian Large & Small Cooking Appliance Market
Indian Large & Small Cooking Appliance Market Increasing Market for Large Cooking Appliances (LAC) Increasing Trend by Sub Segments – Value (INR Billion) Large Cooking Appliances 8 21,761 7 52 18,313 19,955 6 45 15,453 16,817 6 39 14,209 5 34 53 202 5 29 46 SKL is the market 179 25 34 39 159 30 lead
Slide 22: Non-Stick Cookware and Indian Household Utility Products
Non – Stick Cookware and Indian Household Utility Products Increasing Market for Non-Stick Cookware Types of Non-Stick Cookware Used (%) in 2020 11,389 16.8% 74.1% 10,367 67.0% 9,437 9.9% 8,590 56.2% 7,819 7,117 35.1% 21.0 18.0 6.4% 13.2 15.4 1.9% 1.3% 9.7 11.3 Frying Pan Cookware Appachetty Kadai O
Slide 23: Historical Financials
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill Historical Financials
Slide 24: Consolidated Operating Performance
Consolidated Operating Performance Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,284 114 81 1,136 95 99 859 56 670 36 34 3 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Gross Profit Margins EBITDA Margins PAT Margins 34.0% 35.0% 13.2% 9.5% 31.9% 32.7% 8.3% 7.7% 4.9% 5.0% 2.8%
Slide 25: Key Financial Metrics
Key Financial Metrics RoCE 28.9% Working Capital (in Days) 16.7% 12.0% 9.2% Working 38 37 32 38 Capital (in Days) Mar-20 Mar-21 Mar-22 Mar-23 82 75 Cash Flow from Operations (Rs. 66 70 68 69 71 64 Crs.) 56 110 36 40 30 76 16 Mar-20 Mar-21 Mar-22 Mar-23 -5 Inventory Debtors Creditors Mar-20 Mar-21 Ma
Slide 26: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue from Operations 1,283.8 1,136.4 859.0 669.9 Cost of Materials Consumed 746.1 702.6 442.4 323.2 Purchase of stock-in-trade 113.8 110.9 125.2 128.8 Changes in Inventories of Finished Goods and Work in Pro
Slide 27: Historical Balance Sheet- 1/2
Historical Balance Sheet- 1/2 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Equity share capital 33.0 32.9 32.6 24.7 Other equity 370.3 331.1 270.1 -83.4 Total Equity 403.4 364.0 302.7 -58.7 Financial liabilities Borrowings 10.0 15.3 20.7 204.8 Lease Liabilities 32.3 0.0
Slide 28: Historical Balance Sheet- 2/2
Historical Balance Sheet- 2/2 ASSETS (Rs. Crs.) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Property, plant and equipment 362.4 309.4 217.7 193.4 Capital work-in-progress 9.5 9.2 19.1 4.2 Intangible assets 4.0 3.0 3.2 3.6 Right to Use Assets 35.6 0.0 0.0 0.0 Goodwill on Amalgamation 0.1 0.0 0.0 0.0 Fina
Slide 29: Historical Cash Flow Statement
Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.). Mar-23 Mar-22 Mar-21 Mar-20 Cash Flow from Operating Activities Profit before Tax 47.3 62.5 81.2 2.8 Adjustment for Non-Operating Items 52.9 46.0 36.8 34.4 Operating Profit before Working Capital Changes 100.1 108.5 117.9 37.2 Changes in
Slide 30: Thank You
Thank You Investor Relations Advisors : CIN: L29301KA1999PLC025387 Contact Person: Mr. Parth Patel Mr. Irfan Raeen Email Address: +91 98197 85972 +91 97737 78669 Mr. Shrinivas P H - Company Secretary shrinivas.ph@stovekraft.com parth.patel@linkintime.co.in irfan.raeen@linkintime.co.in