Slide 1: Thriving Growth. Unlocking Potential. Inspiring Success.
THRIVING GROWTH. UNLOCKING POTENTIAL. INVESTOR INSPIRING PRESENTATION SUCCESS. Nov’23
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Carysil Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 3: Q2 & H1 FY24 Highlights
CARYSIL STERNHAGEN GERMAN ENGINEERED | |§§ #§$ GERMANY Q2 & H1 FY24 Highlights
Slide 4: Message from Chairman & MD
Message from Chairman & MD Mr. Chirag Parekh, Chairman & Managing Director “We are pleased with our performance for Q2FY24, as the consolidated total income grew by 18.1 % on YoY basis and 15.2% on QoQ basis. The growth in revenues is owing to an improved inflow of orders for quartz sinks from the e
Slide 5: Performance Highlights
Performance Highlights Rs. Crores 164.5 139.3 142.8 ❖ Revenue has increased on YoY & QoQ basis due to improved demand Total Income ❖ Exports Revenue for the quarter stood at Rs. 129.1 cr up by 21.3% on YoY and 17.3% on QoQ Q2FY23 Q1FY24 Q2FY24 ❖ Domestic Revenue for the quarter stood at Rs. 34.5 cr
Slide 6: Consistent Growth
Consistent Growth Rs. Crores Quartz Sink Volumes (Units in ‘000s) Other Volumes (Units in ‘000s) Total Income** Steel Sink Kitchen Appliances & Others# 650 163 153 594 514 +23.9% 492 55 117 114 48 387 413 103 346 51 45 316 307 79 280 43 252 253 25 105 109 60 66 69 55 FY19 FY20 FY21 FY22 FY23 H1FY24
Slide 7: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue FY23 H1FY24 FY23 H1FY24 78.0% 21.6% 25.0% 26.8% 52.0% 49.7% 22.0% 78.4% 11.0% 11.1% 13.0% 12.4% Quartz Sink Exports Domestic Steel Sink Appliances & Others Solid Surface Sinks Strengthening ‘Carysil’ Brand 7
Slide 8: United Granite LLC, access to the Kitchen Top Fabrication Market
‘United Granite LLC’, access to the Kitchen Top Fabrication Market Overview Deal Consideration Rationale Revenue ($ mn) ✓ The object of acquiring this Company is to get access to ✓ Cost of acquisition of 100% the kitchen top fabrication 12.0 ✓ United Granite LLC’ is USA Membership Interest in market
Slide 9: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue 163.6 139.2 141.7 305.3 310.5 Gain / (Loss) on Foreign Exchange 0.9 0.1 1.1 2.0 0.1 Total Income 164.5 139.3 18.1% 142.8 15.2% 307.3 310.6 -1.1% Raw Material 76.9 70.6 70.9 147.9 156.8 Empl
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Sep-23 Mar-23 Liabilities (Rs. Crs.) Sep-23 Mar-23 Non-current assets 367.3 351.4 Total Equity 329.8 307.0 Property Plant & Equipment 216.4 209.7 Share capital 5.4 5.4 Right to use of assets 11.7 13.2 Other Equity 320.5 298.0 Goodwill 111.1 103.4 Non Cont
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Sep-23 Sep-22 Net Profit For The Year 27.3 27.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 39.7 37.4 Operating profit before working capital changes 67.0 65.4 Changes in working capital 6.7 6.1 Cash generated from Ope
Slide 12: Standalone Profit & Loss
Standalone Profit & Loss Particulars (Rs. Crs.) Q2FY24 Q2FY23 Y-o-Y Q1FY24 Q-o-Q H1FY24 H1FY23 Y-o-Y Revenue 94.8 82.4 69.4 164.2 190.8 Gain / (Loss) on Foreign Exchange 0.8 0.1 1.1 1.9 0.1 Total Income 95.6 82.5 16.0% 70.5 35.7% 166.1 190.9 -13.0% Raw Material 36.6 35.2 29.2 65.8 81.5 Employee Expe
Slide 13: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Sep-23 Mar-23 Liabilities (Rs. Crs.) Sep-23 Mar-23 Non-current assets 235.4 229.0 Total Equity 233.6 224.6 Property Plant & Equipment 181.0 175.1 Share capital 5.4 5.4 Right to use of assets 11.7 13.2 Other Equity 228.2 219.3 Intangible Assets 3.5 1.8 Capit
Slide 14: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Sep-23 Sep-22 Net Profit For The Year 13.8 17.1 Adjustments for: Non-Cash Items / Other Investment or Financial Items 27.9 23.2 Operating profit before working capital changes 41.7 40.2 Changes in working capital -2.6 -16.3 Cash generated from Op
Slide 15: Company Overview
Company Overview 15
Slide 16: Numero Uno Position
Numero Uno Position Introduced Physical Vapor Certification for Only Manufacturer with Schock Deposition (PVD) Technology ISO 9001:2015 Technology (Germany) For metallic finish of stainless- ISO 14001:2015 In Asia in Quartz Sink steel sinks ISO 45001:2018 PAN India presence Quartz Sink Capacity Expo
Slide 17: Products with Global Standards sold in 55+ Countries
Products with Global Standards sold in 55+ Countries Company presently exports to over 55 countries. Plan to expand further by acquiring new customers and penetrating in new geographies ❖ We have expanded to newer geographies – Australia, New Zealand, Gulf countries, Southeast Asia, China, Singapore
Slide 18: Industry Overview
Industry Overview The global kitchen sinks market is projected to 80-90 MN units ~7 MN Units 9 MN Units grow from USD 3.2 25% CAGR billion in 2022 to USD Of Quartz sink are 4.50 billion by 2030, The global market for Demand for manufactured using of Quartz sinks globally with a CAGR of 3.87% kitchen
Slide 19: Our Distribution Model
Our Distribution Model International STRATEGIC Acquisition of Home Style Products Limited • Outsources and sells it to the Top Customers (now known as Carysil Products Limited - A kitchen products distribution • Key Alliances with partners in USA, Israel, Denmark & Germany company)with 100% Stake •
Slide 20: Carysil – Over the Years
Carysil – Over the Years 1993 2010-11 2017-18 2020 2022 Carysil began its Carysil started its first 2017: Launch of Sternhagen Incorporation of a Acquisition of Tickford Orange focus on exports of international subsidiary brand and State of art Wholly owned Limited, holding company of its Quartz Sin
Slide 21: Pillars of Integrated Business
Pillars of Integrated Business Brand Manufacturing Facilities & Technology Distribution Network Gallery Product Basket • Brand promotion on TV and in print, along • Quartz Sinks: 10,00,000 pa , Stainless Steel • The acquisition of 100% stake in a • Offers a wide range of cutting edge with exposure t
Slide 22: Vision & Mission
Vision & Mission • To be the leading global player in Kitchen and Bath segment ▪ To become one-stop solution for kitchen segment ▪ To go beyond customer satisfaction by manufacturing high- quality products and providing excellent service ▪ To keep up with the latest trends in technology ▪ To enhance
Slide 23: Board of Directors
Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik Dr. Sonal Ambani Mr. Pradeep Gohil Chairman and Managing Director Independent Director Independent Director Independent Director He holds a BBA Degree from premier ' A Chartered Accountant, was a partner of a A Ph.D in business management a
Slide 24: Our Core Team
Our Core Team Anand Sharma Reena Shah Manish Thakkar Mitesh Chauhan CFO & COO Company Secretary Sr. Vice President Vice President & Compliance Officer (Operations) (International Sales) Jairaj Nair Pradeep Trivedi Aishwarya Srivastava VP (Sales & Marketing) HR Head Corporate HR Manager Shrenik Chopr
Slide 25: Awards & Certifications
Awards & Certifications Award Certificate If Design Award to FGI’s Award for ‘Best for Manufacturing Sternhagen SaniQ Exports Performance Innovation & kristall wash basin & Promotion’ Design IPF Fastest growing Manufacturing Certificate for ‘Best CSR FGI’s Award for ‘Good Company Award practices’ by
Slide 26: Marketing campaign for 'Carysil' Brand
Marketing campaign for ‘Carysil’ Brand ❖ Carysil has signed Bollywood celebrity ‘Vaani Kapoor’ for new marketing campaign #TheHeartofMyHome for its ‘Carysil’ Brand ❖ Under the ‘Carysil’ brand, company sells lifestyle kitchen sinks and built-in appliances ❖ Campaign #TheHeartofMyHome unveils a new ra
Slide 27: Increasing Product Portfolio
Increasing Product Portfolio Product Segment Bathroom Kitchen Suite Sinks Faucets Bath Fittings Appliances 27
Slide 28: Sinks
Sinks 28
Slide 29: Revenue Mix
Revenue Mix Only Company in Asia Capacity of Quartz Sinks (per annum) The only company in Asia and among a few Existing companies worldwide: manufacturing quartz kitchen sinks to global standards of quality, durability and visual appeal 1,000,000 840,000 Plant Capacity 600,000 500,000 4 plants havin
Slide 30: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 12.4% to Consolidated revenue* Production Capacity 1,80,000 sinks per annum^; Commercial production of additional capacity commenced in Jul’23 Target Market for Quadro (Designer) Sinks Caters to high end segment
Slide 31: Kitchen Appliances
Kitchen Appliances 31
Slide 32: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Chimneys Wine Chillers Edge over Price, Quality and Delivery Fronts Currently contributing 4.2% to the Revenue* Dish Washer Hoods Product Portfolio Manufacturing and Trading of Appliances Poised to become a significant player in the overall Kitchen C
Slide 33: Bath Segment
CARYSIL. STERNHAGEN GERMAN ENGINEERED GERMANY Bath Segment
Slide 34: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology FUNDAMENTALS OF THE BUSINESS ▪ Brand owned by Carysil’s Wholly owned Subsidiary in Germany, ‘Carysil GmbH’ Product Details Range of Products Innovation Sternhagen washbasins Premium Sanitary Ware, Developed full bathroom ▪ 60+ Showrooms &
Slide 35: Business Model
CARYSIL. STERNHAGEN GERMAN ENGINEERED GERMANY
Slide 36: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Variety of Moulds Life of Moulds Input Purchase of Moulds A Mould can be utilized for 15+ All the Moulds are imported ▪ Has more than 150 moulds ▪ 400+ SKU’s years Processing Place: Bhavnagar, Gujarat Production Capacity Made to Order Output 10,00,000
Slide 37: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands With a strong focus on the domestic market, we are increasing our penetration domestically by expanding in dealer network pan India. Expanded dealer network to over 3,200 dealers Dealer Network 3,100+ 3,200+ 1,500+ 1,500+ 1,500+ 1,500+ 1,200+ 1,300+ 80
Slide 38: Increasing Presence Across India
Increasing Presence Across India ❖ Increasing Penetration in the domestic market through the opening of many galleries across India ❖ Displaying vast range of ‘Carysil’ products, including kitchen sinks, chimneys, hobs, cooktops, faucets, dishwashers, etc. 38
Slide 39: Presence in UK through Carysil Products Ltd.
Presence in UK through Carysil Products Ltd. (formerly known as Acrysil Products Ltd.) Carysil ltd. holds 100% in Carysil Products Ltd. through Carysil UK Ltd. The name of Acrysil Products Ltd. has been changed to Carysil Products Ltd. Revenues (Mn. GBP) Products sold under Carysil Products Ltd. (fo
Slide 40: Further strengthened Presence in UK through 'Carysil Surfaces Limited'
Further strengthened Presence in UK through ‘Carysil Surfaces Limited’ The acquisition is a natural and strategic fit for Carysil and will catapult the Company into new orbit of growth • Tickford Orange Limited (TOL) is the holding company of Carysil Surfaces Limited (CSL) Revenues (Mn. GBP) • CSL i
Slide 41: Carysil Brassware Ltd. exploring complimentary products
‘Carysil Brassware Ltd.’ exploring complimentary products Carysil Brassware Ltd. (formerly known as ‘The Tap Factory Ltd.’ • The Tap Factory Limited, incorporated in England and Wales Overview • The Company designs and sources bathroom and kitchen products mainly “Instant Boiling Water Tap” that are
Slide 42: Multiple Growth Drivers
Multiple Growth Drivers Strong Distribution Network Strengthen the Distribution network by tie up with Homestyle and STL, UK and plan to add new 100 galleries and 34 more distributor and increased dealer network to 3200+ dealers in H1FY24 Short Term Branding & Technology Focused on capturing the Bra
Slide 43: Historical Financials
CARYSIL STERNHAGEN GERMAN ENGINEERED GERMANY Historical Financials
Slide 44: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue 593.9 483.9 309.7 276.2 Gain / (Loss) on Foreign Exchange 0.0 8.5 5.8 - Total Income 593.9 492.4 315.5 276.2 Raw Material 302.4 209.5 141.8 137.4 Employee Expenses 43.4 30.7 22.2 22.2 Other Expenses 139.2 137.5 7
Slide 45: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Non-current assets 351.4 245.8 170.3 138.8 Total Equity 307.0 256.9 194.0 160.2 Property Plant & Equipment 209.7 168.3 121.2 97.8 Share capital 5.4 5.3 5.3 5.3 Right to use of
Slide 46: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit For The Year 52.8 65.3 39.3 22.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 57.8 51.1 38.7 29.1 Operating profit before working capital changes 110.6 116.3 78.0 51.9 Changes in w
Slide 47: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue 335.7 388.0 248.3 214.4 Gain / (Loss) on Foreign Exchange 0.0 8.3 5.8 4.1 Total Income 335.7 396.3 254.2 218.5 Raw Material 145.4 163.6 110.2 103.7 Employee Expenses 25.8 22.3 16.0 16.7 Other Expenses 98.2 120.5 72
Slide 48: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Non-current assets 229.0 204.9 145.6 114.4 Total Equity 224.6 200.3 151.4 130.3 Property Plant & Equipment 175.1 147.0 104.9 83.8 Share capital 5.4 5.3 5.3 5.3 Right to use of as
Slide 49: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit For The Year 25.6 51.5 26.6 12.8 Adjustments for: Non-Cash Items / Other Investment or Financial Items 43.1 44.3 34.0 25.3 Operating profit before working capital changes 68.7 95.8 60.6 38.1 Changes in worki
Slide 50: Improving Return Ratios
Improving Return Ratios Return on Capital Employed (%) Return on Equity (%) Working Capital Days 24.3% 28.9% 70 21.3% 63 20.7% 20.2% 49 15.7% 18.7% 14.5% 31 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 50
Slide 51: Regular Dividend Payout
Regular Dividend Payout Dividend 14.3% 13.6% 9.8% 10.2% Payout (excl. DDT) 24.3 19.6 14.7 8.4 2.0 2.4 2.0 1.2 FY20 FY21 FY22 FY23 EPS DPS 51
Slide 52: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Carysil Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma – CFO Mr. Rahul Agarwal/ Mr. Mandar Chavan cfo@carysil.com rahul.agarwal@sgapl.net/ mandar.chavan@sg