Sirca Paints India Ltd. · NSE:SIRCA
Sirca Paints India — Q2 FY24 Earnings Presentation
32 slides from Sirca Paints India's earnings presentation, Nov 11, 2023
Slide 1: Submission of Investor Presentation to Stock Exchanges
November 11, 2023 To, To, The Managing Director The General Manager National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1 Department of Corporate Services G-Block, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai – 400051 Dalal Street, Mumbai
Slide 2: Q2FY24 Earnings Presentation
NSE: SIRCA | BSE: 543686 | Bloomberg: SIRCA:IN CIN: L24219DL2006PLC145092 Q2FY24 Earnings Presentation N O V E M B E R 2 0 2 3
Slide 3: Inside
INSIDE Introduction 04 Sirca at a Glance 05 Sirca’s Value Proposition 06 Brand Portfolio 08 Sirca’s Footprint & Distribution 09 Customer Segments 10 Manufacturing Facilities 11 Marketing & Promotional Activity Industry 13 Contractor Loyalty Program 15 Indian Paints Industry 16 Wood Coatings & Finish
Slide 4: Company Profile
Company Profile
Slide 5: Introduction
EARNINGS PRESENTATION COMPANY PROFILE INTRODUCTION About Sirca Paints India Limited About Sirca S.P.A (Italy) • Sirca Paints India Limited (SPIL) is among the country’s leading manufacturers of wood coating Founded in the 1973, Sirca is an integral part of the Durante Group. It is among the products
Slide 6: SPIL at a Glance
EARNINGS PRESENTATION COMPANY PROFILE SPIL AT A GLANCE EXCLUSIVE LICENSEE MARKET LEADER OEM VENDOR Of Globally Established ‘Sirca’ Among the Top 3 Premium Preferred OEM Vendor on its way to brand for India, Nepal, Bangladesh wood coatings brand in India become a Dominating Retail Brand and Sri Lanka
Slide 7: Value Proposition
EARNINGS PRESENTATION COMPANY PROFILE VALUE PROPOSITION The promise and quality of ‘Made in Italy’ CORE OFFERING : blended with innovation, research and development to provide the most Premium Italian Wood Coatings Metal Coatings Glass Coatings sophisticated and customized products and services in t
Slide 8: Value Proposition: Portfolio Expansion
EARNINGS PRESENTATION COMPANY PROFILE VALUE PROPOSITION Portfolio Expansion Recent Additions Wall Paints Range Wood Coatings Wall Paints & others MASS MARKET RANGE • OIKOS Portfolio • Nitrocellulose (NC), Melamine, (Decorative, Solid Colour Finishes, PU Coatings and Thinners and Texture Coatings) •
Slide 9: Brand Portfolio
EARNINGS PRESENTATION COMPANY PROFILE BRAND PORTFOLIO Sirca INDIAN SUBCONTINENT* • Luxury Italian Wood Coatings • High-end Wall Paints Unico • Mass-market Wood 08 Coatings products OIKOS INDIA • High-end Decorative, Solid Colour Finishes and Texture Coatings DuranteVivan • Adhesives Product Portfoli
Slide 10: Sirca's Footprint
EARNINGS PRESENTATION COMPANY PROFILE SIRCA’S FOOTPRINT MOHALI JAGADHARI 2,030 11 AMBALA Dealers & Branches Distributors & Depots KARNAL NOIDA RAI & SONIPAT DEHRADUN NEPAL DELHI GURUGRAM SILLIGURI 27 02 GUWAHATI Sirca Studios Manufacturing 09 INDORE BANGLADESH KOLKATA Facilities NAGPUR MUMBAI Key RA
Slide 11: Customer Segments
EARNINGS PRESENTATION COMPANY PROFILE CUSTOMER SEGMENTS CUSTOMER SEGMENTS ~70% ~30% 10 Revenue Contribution Revenue Contribution 2,030 APPROACH • Dealing in Premium products. Aggressively growing Distribution • Providing strong technical support and after sales Network with 2,030* nodes services to
Slide 12: Manufacturing Facilities
EARNINGS PRESENTATION COMPANY PROFILE MANUFACTURING FACILITIES COMMISSIONED COMISSIONED WALL PAINT & WALL PRODUCTION CAPACITY In Nov’2019, Sirca commissioned a manufacturing facility for PUTTY MANUFACTURING This Company has a production capacity of: Nitrocellulose, Melamine, Economical PU products,
Slide 13: Marketing and Promotional Activities
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES INCREASE EXPENDITURE ON IMPLEMENTED 360° MARKETING ADVERTISEMENTS CAMPAIGN Radio commercials & tv To achieve a greater brand-recall for ‘Sirca’, The company has implemented a 360° commercials in regional the company is increa
Slide 14: Marketing and Promotional Activities: Sirca Studios
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES Sirca studios for a class-apart consumer experience 13 sircapaints.com
Slide 15: Marketing and Promotional Activities
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES ~1,329 shop board installed for enhanced visibility. Refreshed brand positioning as “Your Italian Autograph”. 14 sircapaints.com
Slide 16: Contractor Loyalty Program
EARNINGS PRESENTATION COMPANY PROFILE CONTRACTOR LOYALTY PROGRAM Sirca Parivaar 2.0 – App Update Enhanced Version of Sirca Parivaar App ~15,000 ~8,000 1,500+ The main objective of this app is to automate the process of loyalty program and streamline the Contractors Average Daily Average Daily proces
Slide 17: India Paint Industry
EARNINGS PRESENTATION COMPANY PROFILE INDIA PAINT INDUSTRY 62,000 PAINT INDUSTRY CRORE MARKET IS BROADLY DIVIDED INTO 3/4th 1/4th The Indian Paints industry is estimated to be a 62,000 Crore market annually Decorative Paints Industrial Paints & Decorative Paints constitute almost 3/4th of the market
Slide 18: Wood Coatings & Finishes Segments
EARNINGS PRESENTATION COMPANY PROFILE WOOD COATINGS & FINISHES SEGMENTS Overview Market Trends • Wood coatings are used for their • The wood coatings product category is facing a shift in consumer adhesion, anti-corrosion, durability, preferences from toxic and environmentally harmful products to ap
Slide 19: Board of Directors
EARNINGS PRESENTATION COMPANY PROFILE BOARD OF DIRECTORS Mr. Sanjay Agarwal Mr. Apoorv Agarwal Mr. Gurjit Singh Bains Mr. Ugo Pelosin CHAIRMAN AND MANAGING JOINT MANAGING NON-EXECUTIVE NON-EXECUTIVE DIRECTOR DIRECTOR DIRECTOR DIRECTOR 18 Mr. Agarwal is one of the co-founders of Sirca Mr. Agarwal has
Slide 20: Board of Directors
EARNINGS PRESENTATION COMPANY PROFILE BOARD OF DIRECTORS Mr. Shyam Lal Goyal Mrs. Anu Chauhan Mr. Sanjay Kapoor NON-EXECUTIVE & NON-EXECUTIVE & NON-EXECUTIVE & INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR 19 Mr. Goyal was the Audit and Finance Advisor Mrs. Chauhan has a vast experi
Slide 21: 5Y Financial Summary
5Y Financial Summary
Slide 22: 5Y Profit & Loss Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y PROFIT & LOSS SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Revenue from Operations 267.75 200.02 143.18 135.05 125.34 Total Income 272.59 204.43 157.32 140.66 131.46 Total Operating Expenses 206.03 162.27 121.37 103.26 93.81 EBITDA (Excludi
Slide 23: 5Y Balance Sheet Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y BALANCE SHEET SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Shareholders Fund 265.53 225.15 201.60 184.65 167.84 Non Current Liabilities 0.59 0.05 0.28 0.18 0.48 Current Liabilities 45.92 37.16 52.88 24.98 22.45 - Trade Payables 36.55 31.40
Slide 24: 5Y Cash Flow Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y CASH FLOW SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Cash from Operating Activities -18.69 35.16 19.24 -7.56 12.34 Cash from Investing Activities 9.38 -11.06 14.74 4.81 -71.28 Cash from Financing Activities -5.52 -17.38 -0.10 -8.45 68.36
Slide 25: Q2FY24 Result Discussion
Q2FY24 Result — Discussion
Slide 26: Profit & Loss Summary
EARNINGS PRESENTATION Q2FY24 RESULT DISCUSSION PROFIT & LOSS SUMMARY Standalone (₹ in crores) PARTICULARS Q2FY24 Q1FY24 Q2FY23 YoY % QoQ % 15% Q2FY24 Revenue from Operations Revenue from Operations 83.60 72.99 72.92 14.7% 14.5% at 83.60 Crores compared to 72.92 Crores in Q2FY23 Total Income 84.80 74
Slide 27: Management Commentary
EARNINGS PRESENTATION Q2FY24 RESULT DISCUSSION MANAGEMENT COMMENTARY 26 Q2FY24 Result Discussion • Sirca Paints continues with its robust performance. The Company has • On the profitability front, the Company reported healthy EBITDA margins reported a top line growth of 15% both YOY and QOQ. of 25.5
Slide 28: Management Commentary (Cont.)
EARNINGS PRESENTATION Q2FY24 RESULT DISCUSSION MANAGEMENT COMMENTARY (Cont.) Strategic Updates 27 • Manufacturing operations for Unico have been ramping up at the Sonipat facility after the recent capacity expansion to 16,000 tonnes from the earlier Business Update 12,000 tonnes. • Apart from Unico,
Slide 29: Latest Display Units Revamp
EARNINGS PRESENTATION Q2FY24 RESULT DISCUSSION LATEST DISPLAY UNITS REVAMP 28 sircapaints.com
Slide 30: Recent Product Launches
EARNINGS PRESENTATION Q2FY24 RESULT DISCUSSION RECENT PRODUCT LAUNCHES Recent Product Launches • Acrylic Distemper • Acrylic Wall Putty • Metallic Emulsion • Floor Coat Emulsion • Cement Paint • Red oxide Primer • Universal Stainer 29 sircapaints.com
Slide 31: Get in Touch
EARNINGS PRESENTATION GET IN TOUCH Sayam Pokharna 30 TIL Advisors Private Limited Sirca Paints India Limited sayam@theinvestmentlab.in cs@sircapaints.com +91 94266 60791 sircapaints.com
Slide 32: Disclaimer
EARNINGS PRESENTATION DISCLAIMER No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events n