Carysil Limited · NSE:CARYSIL
Carysil — Acrysil — FY2020 Earnings Presentation
38 slides from Carysil's earnings presentation, June 2020
Slide 1: Leader in Lifestyle Kitchen Products
Leader in Lifestyle Kitchen Products June 2020
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Acrysil 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,
Slide 3: FY20 Highlights
FY20 Highlights
Slide 4: Record FY20 Performance
Record FY20 Performance Revenue EBITDA PAT +10% +15% +28% Comments from Chairman & MD Key Highlights “I feel delighted to share the performance of your Company for the financial • Company reported highest ever profit of Rs. 23 crores for FY20 year 2019-20. The year has been encouraging as your Compa
Slide 5: FY20 Result Highlights
FY20 Result Highlights Rs. Crores Revenue Domestic Revenue EBITDA PAT After MI +9.8% -1.5% +14.7% +28.0% 276.2 73.8 72.7 46.4 22.1 251.6 40.4 17.2 FY19 FY20 FY19 FY20 FY19 FY20 FY19 FY20 Gross Margin (%) Export Revenue EBITDA Margin (%) PAT Margin (%) +165 bps +14.5% +72 bps +114 bps 48.6% 50.3% 203
Slide 6: Quarterly Performance
Quarterly Performance Rs. Crores Revenue EBITDA PAT After MI -1.4% +5.9% -7.2% 70.7 73.2 12.2 12.2 12.3 6.8 65.3 68.0 64.4 5.8 5.6 9.1 9.6 4.2 3.9 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Q4FY19 Q1FY20 Q2FY20 Q3FY20 Q4FY20 Domestic Revenue Exports Revenue +3.3% -15.3% 17
Slide 7: Consistent Growth
Consistent Growth Rs. Crores Revenue EBITDA 276 +17.2% 252 46 +16.5% 40 181 197 174 29 127 24 26 26 106 19 FY14 FY15 FY16 FY17* FY18* FY19* FY20* FY14 FY15 FY16 FY17* FY18* FY19* FY20* PAT After MI Cash PAT After MI 22 34 +19.1% +18.1% 17 26 11 12 19 16 14 8 9 8 13 13 FY14 FY15 FY16 FY17* FY18* FY19
Slide 8: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue FY19 Export 13% 72% 26% Domestic 15% 74% Quartz Sink Steel Sink Appliances & Others FY20 5% 95% 11% 73% Strengthening 16% ‘Carysil’ Brand Quartz Sink Steel Sink Appliances & Others 8 Consolidated Financials
Slide 9: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q4FY20 Q4FY19 Y-o-Y FY20 FY19 Y-o-Y Revenue 64.4 65.3 -1.4% 276.2 251.6 9.8% Raw Material 30.9 32.6 137.4 129.3 Employee Expenses 5.9 4.7 22.2 18.5 Other Expenses 18.0 18.9 70.3 63.4 EBITDA 9.6 9.1 5.9% 46.4 40.4 14.7% EBITDA Margin (%) 15.0% 13.9% 1
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-20 Mar-19 Liabilities (Rs. Crs.) Mar-20 Mar-19 Non-current assets 138.8 126.7 Total Equity 160.2 136.5 Property Plant & Equipment 97.8 94.2 Share capital 5.3 5.2 Right to use of assets 1.4 0.0 Other Equity 152.5 127.7 Goodwill 23.9 23.5 Minority Inter
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-20 Mar-19 Net Profit For The Year 22.9 17.5 Adjustments for: Non-Cash Items / Other Investment or Financial Items 29.1 23.0 Operating profit before working capital changes 51.9 40.5 Changes in working capital -14.4 -22.7 Cash generated from
Slide 12: COVID-19 Business Update
COVID-19 Business Update Business Operations: Demand for its products/ services: • From April 14, 2020 partially started manufacturing Supply Chain: operations to meet export orders backlog • Demand in export market is adequate however domestic demand is expected to improve once the • We have not ob
Slide 13: Safety measure implemented to fight against Covid-19
Safety measure implemented to fight against Covid-19 Work from Home • Implemented work from home during the nationwide lockdown • Post lockdown we have re-started Corporate offices with limited workforce • Bhavnagar plant is operating in 3 shifts Sanitization & Social Distancing at workplaces • Regu
Slide 14: Incorporation of a Wholly Owned Subsidiary
Incorporation of a Wholly Owned Subsidiary • Acrysil has incorporated a Wholly Owned Subsidiary (WOS) namely “ACRYSIL USA Inc” under Business Corporation Law of the State of New York • It was incorporated on April 30, 2020 • Major purpose is for expansion of our presence in USA. The Subsidiary will
Slide 15: Strengthening "STERNHAGEN" Brand
Strengthening “STERNHAGEN” Brand “Unveiling the new Rose Gold collection of Premium Sanitary ware and Bath fittings” 15
Slide 16: Strengthening "STERNHAGEN" Brand
Strengthening “STERNHAGEN” Brand • Acrysil has signed an agreement with Farah Ali Khan a well-known Jewellery Designer and Indian Gemologist for their brand Sternhagen • Farah Ali Khan has been designing the jewellery for India’s top business families and famous Bollywood stars. • The Company will p
Slide 17: Business Overview
Business Overview
Slide 18: Numero Uno Position
Numero Uno Position India’s 1st state of art Show Room Only manufacturer in India & cum Experience Center in Exclusive product galleries for Asia in Quartz Sink Ahmedabad & Mumbai ‘Carysil’ Certification for ISO 9001:2008, ISO Quartz Sink Capacity : 500,000 sinks Brands - “CARYSIL” & per annum in FY
Slide 19: Acrysil – Over the Years
Acrysil – Over the Years Today, Acrysil is India’s only indigenous brand of kitchen sinks made of Quartz 2019 Started 2018 commercial Entered into an agreement Production of 2017 for Supply of Stainless steel Technical Tie- Acrysil started up with Quartz sinks through its first its subsidiary 2014 N
Slide 20: Pillars of Integrated Business
Pillars of Integrated Business Brand Manufacturing Facilities & Technology ▪ Brand promotion on TV and in print, along with exposure ▪ Quartz Sinks: 500,000 pa , Stainless Steel : 75,000 pa and through sponsorship of events like Times Food and Appliances : 7,000 pa MasterChef Australia ▪ Enjoy in-ho
Slide 21: Increasing Product Portfolio
Increasing Product Portfolio Product Segment Kitchen Bathroom Suits Bath Sinks Appliances Fittings APPLIANCES 21
Slide 22: Sinks
Sinks
Slide 23: Only Company to Make Quartz Sinks in Asia
Only Company to make Quartz Sinks in Asia Capacity of Quartz Sinks (per annum) The only company in all of Asia and among a few companies worldwide: High Margin manufacturing quartz kitchen sinks to global standards of Product quality, durability and visual appeal 5,00,000 4,00,000 3,25,000 Asset Tur
Slide 24: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 16% to Consolidated revenue * Production Capacity : 75,000 sinks per annum Quadro (Designer) Sinks: 100% Utilization Press Steel Sinks: 70% utilization Target Market for Quadro (Designer) Sinks: Caters to high en
Slide 25: Kitchen Appliances
Kitchen Appliances
Slide 26: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Poised to become a significant player in the overall Kitchen Segment: Manufacturing and Trading of Appliances Chimneys Dish Washer Cook Tops Expansion of Appliances Range Currently Constant Innovation, Research, contributing ~7% Development & Design
Slide 27: Bath Segment
Bath Segment
Slide 28: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology Achievements Won 52 international awards, among them the Red Dot Award (Best of the Best) ✓ Brand owned by Acrysil’s Wholly owned Subsidiary in Germany, ‘Acrysil Synergy GmbH’ Synergy in Quartz Sink Technology helped in developing patented
Slide 29: 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 Sales Network Global Offices 29 Map not to scale. All data, information and maps are provided “as is” without warra
Slide 30: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands Dealer Network 1500 1500 1300 1200 800 550 400 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-2020 Distributor Network 80 82 82 60 65 ARABIAN BAY OF 45 SEA BENGAL 30 Sales Distributor 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-2020 30 M
Slide 31: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Input Processing Output Variety of Moulds Production Capacity ▪ Has more than 130 moulds 500,000 units per ▪ 350+ SKU’s annum All the Moulds are imported Place: Bhavnagar, Gujarat Purchase of Moulds A Mould can be Made as per the utilized for 15+ year
Slide 32: Presence in UK through Acrysil Products Ltd.
Presence in UK through Acrysil Products Ltd. (formerly known as Homestyle Products Ltd.) Acrysil holds 100% in Homestyle Products through Acrysil UK Limited The name of Homestyle Products Limited has been changed to Acrysil Products Limited Products sold under Acrysil Products Ltd. Revenues (Mn. GBP
Slide 33: Our Distribution Model
Our Distribution Model International Domestic Strong Foothold in India STRATERGIC Acquisition of 65 Franchise Significant Presence in UK 1,500 Dealers 80 Gallery Homestyle UK Limited Shop (now known as Acrysil Products Limited - A Market kitchen products distribution company) 82 Distributors 5 Offic
Slide 34: Multiple Growth Drivers
Multiple Growth Drivers 01 Strong Distribution 02 Branding & 03 Huge Product Network Technology Range Short Term Strengthen the Distribution Entry into the kitchen network by tie up with Focused on capturing appliances market with Homestyle and plan to add the Brand Mindspace innovation, R&D and new
Slide 35: Board of Directors
Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik ▪ A Chartered Accountant, was a partner of a reputed ▪ He holds a BBA Degree from premier ' European University’ Accounting firm - M/s S.V. Ghatalia & Associates for more than ▪ After joining the company in 1993, he successfully steered it
Slide 36: Awards & Certifications
Awards & Certifications Award Certificate for Manufacturing Innovation & Design If Design Award to Sternhagen SaniQ kristall wash basin FGI’s Award for ‘Best Exports Performance & Promotion’ IPF Fastest growing Manufacturing Company Award Certificate for ‘Best CSR practices’ by Rotary Club FGI’s Awa
Slide 37: Regular Dividend Payout
Regular Dividend Payout Dividend 21.2% 22.8% 27.8% 21.7% 18.1% 14.3% Payout (excl. DDT) 21.9 18.9 18.0 8.4 6.6 5.0 5.0 4.6 4.0 1.0 1.2 1.2 2015 2016 2017 2018# 2019# 2020# EPS DPS 37 *EPS for FY17 is on basis of I-GAAP Financials #Adjusted for Split from Face value of Rs. 10 to Face value of Rs. 2
Slide 38: ACRYSIL LIMITED
ACRYSIL LIMITED For further information, please contact Company : Investor Relations Advisors : Acrysil Limited Strategic Growth Advisors Private Limited CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma - CFO Ms. Neha Shroff/ Ms. Khushbu Shah cfo@acrysil.com neha.shroff@sgapl.n