Borosil Ltd · NSE:BOROLTD
Borosil — Q4 FY24 Earnings Presentation
35 slides from Borosil's earnings presentation, May 27, 2024
Slide 1: Stock exchange intimation letter for investor presentation
May 27, 2024 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 543212 Symbol: BOROLTD Dear Sirs, Sub: Investor Presentation Pursuant to Regul
Slide 2: Borosil Limited Investor Presentation Q4 FY24
Bo rosil Lim ited Investor Presentation Q4 FY24
Slide 3: Disclaimer
THIS PRESENTATION (PRESENTATION) IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF BOROSIL LI MITED (THE “COMPANY”) OR ITS SUBSIDIARY (TOGETHER WITH THE COMPANY, THE “GROUP”). The material that follows is a Presentation of general background information about the Comp
Slide 4: Pre and post demerger structure
Pre Demerger Post Demerger Promoters Public Promoters Public 1 70.18% 29.82% Consumer 70.18% 29.82% Listed on SEs Borosil Limited Products Borosil Limited (CP & SIP) Business 82.49% 100% KPL BTL Promoters Public 95.48% 2 Awaiting Listing on SEs GSGWL 67.92% 32.08% Borosil Scientific Scientific & Lim
Slide 5: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 4
Slide 6: To Be The Most Customer-centric Company In India
‘To Be The Most Customer-centric Company In India’ Develop innovative Be a dependable Nurture long-term products to meet partner that creates relationships with all evolving customer value for customers stakeholders needs Borosil Limited | Q4FY24 Investor Presentation 5
Slide 7: Acquisition of Goel Scientific (Process Chemistry business)
Acquisition of Goel Scientific (Process Chemistry business) Borosil Limited | Q4FY24 Investor Presentation 6
Slide 8: Borosil at a glance: presence in 26 countries
Presence in • Part of Borosil Group which has a track record of around 62 years Retail Outlets 24000+ • • Borosil is one of the oldest and trusted consumer brand in India Larah is one of the largest Opalware manufacturer in India • Trusted by Institutional Investors like DSP, Canadian World Fund, AD
Slide 9: Glass products company and consumer brands company
GLASS PRODUCTS CONSUMER BRANDS COMPANY COMPANY OCCASIONAL USE DAILY USE (SERVING WARE, (MICROWAVABLE) STORAGE, APPLIANCES) SINGLE BRAND MULTI BRAND BOROSIL BOROSIL, LARAH GENERAL • General Trade • B2B • Modern Trade • CSD/CPC TRADE • E-Commerce • Exports Borosil Limited | Q4FY24 Investor Presentatio
Slide 10: Glassware, Non-Glassware, Opalware
Glassware Cook, serve, store Jugs & Bottles Storage Jars Glass Containers Vision Glass Glass Lunch Boxes Glassware Non-Glassware Gas Stoves Domestic Appliances Flasks & Bottles Stainless Steel Cookware Non-Stick Cookware Opalware Storage Containers Dinner Sets Tea & Coffee series Borosil Limited | Q
Slide 11: Sales and Operating EBITDA FY2018 vs FY2024
Sales (₹ Crs) Operating EBITDA (₹ Crs) 942.3 145.7 248.9 22.5 FY2018 FY2024 FY2018 FY2024 Borosil Limited | Q4FY24 Investor Presentation 10
Slide 12: Q4FY24 financial results
₹ Particulars (₹ Crs) Q4FY23 Q4FY24 Growth% Net Sales 176.5 228.9 29.7% EBITDA 15.7 25.8 64.0% EBITDA (Before exceptional and one-time items) 24.6 25.6 3.8% EBITDA (%) 13.9% 11.2% EBIT (Before exceptional and one-time items) 13.0 9.6 -26.2% PBT 2.2 6.7 198.8% PAT 3.1 5.1 61.4% Net Debt (period end)
Slide 13: FY24 financial results
₹ Particulars (₹ Crs) FY23 FY24 Growth% Net Sales 741.6 942.3 27.1% EBITDA 96.1 150.5 56.6% EBITDA (Before exceptional and one-time items) 81.6 144.9 77.6% EBITDA (%) 11.0% 15.4% EBIT (Before exceptional and one-time items) 54.0 91.0 68.4% PBT 66.0 87.8 33.1% PAT 51.9 65.9 27.0% Net Debt (period end
Slide 14: Sales by Glassware, Non-Glassware, Opalware
₹ Particulars Q4FY23 Q4FY24 Growth% FY23 FY24 Growth% Glassware 40.1 42.7 6.4% 177.9 198.0 11.3% Non-Glassware 68.3 97.0 42.2% 303.1 386.5 27.5% Opalware 68.1 89.1 30.8% 260.6 357.7 37.3% Total Consumerware 176.5 228.9 29.7% 741.6 942.3 27.1% Borosil Limited | Q4FY24 Investor Presentation 13
Slide 15: Capital employed and operational ROCE
₹ Particulars FY23 FY24 Shareholders Funds 510.0 580.0 [+] Deffered Tax Liability 8.4 12.9 [+] Total Debt 173.0 251.7 Capital Employed 691.4 844.6 [-] CWIP & Investments (336.2) (243.4) Operating Capital Employed (A) 355.2 601.2 PBT (Before Exceptional and one time Items) 56.7 87.8 [-] Income from i
Slide 16: Working capital employed
₹ Particulars FY23 FY24 ₹ Working Capital Employed 95.8 183.3 Working Capital (Days of Sale) 47 71 Operating Capital Employed 355.2 601.2 Operational ROCE 16.3% 15.1% Borosil Limited | Q4FY24 Investor Presentation 15
Slide 17: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 16
Slide 18: Category market size and growth
Category Market Size - Branded (Crs.) Market Growth % Glass (Borosilicate) Includes Microwavable, Tumblers and ~415 1 0 .5 % Storage Tumblers (Soda lime) ~400 10 % Cookware (Includes Cooking range of pans, cookers, kadhais etc made of ~7922 6. 5 % steel, non-stick, cast iron, aluminium etc) Insulate
Slide 19: Distribution channels
General Trade Modern Trade Ecommerce CSD & CPC B2B Exports CSD (Canteen Stores Department) and CPC (Central Police Canteen) Borosil Limited | Q4FY24 Investor Presentation 18
Slide 20: Expanding from microwavable glass to storage, serving-ware and appliances
Expanding from being synonymous with microwavable glass to storage, serving-ware, and domestic appliances STORE PREPARE COOK SERVE HEAT • Contemporary • Performs Beautifully • Everyday Use • Ally to the progressive homemaker Borosil Limited | Q4FY24 Investor Presentation 19
Slide 21: Touching Consumer Life Everyday
#Morning Preps, Chai, Breakfast, Touching Consumer Life Everyday #Dinner Prep, Evening #Lunch Husband, Kids Tea, Dinner Serving # social meetings, hi tea, travel, Workout Borosil Limited | Q4FY24 Investor Presentation 20
Slide 22: New product introductions
Note: This is just a representation of new products out of 4000 + new SKU’s Borosil Limited | Q4FY24 Investor Presentation 21
Slide 23: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 22
Slide 24: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 23
Slide 25: Made in India, new product development, brand leverage
Made In New Product Leverage Brand Borosil Everyday Usage India Development Enhance/ build Our focus on Borosil is one of To make manufacturing innovation and the leading glassware capacity for customer needs brands in India. affordable for Opal Glass and is the backbone We leverage mass consumers B
Slide 26: Steady growth and current tailwinds
Steady Growth Current Tailwind Current Tailwind Current Tailwind Borosil Limited | Q4FY24 Investor Presentation 25
Slide 27: Opalware market and future growth drivers
One of the leading player in Adoption being led by ~INR 1400 cr category • Urbanization and nuclearization of families • Gaining share in growing market • Increase in entertaining guests at home • Changing lifestyles leading to aspirational preferences Focus on market expansion Future Growth Drivers
Slide 28: Strategic priorities: revenue CAGR, margins, brand, capital employed
Achieve revenue CAGR of ~ 15%-20% Become brand of consumer choice - Increase penetration of glass storage and Opalware - Maintain investments in brand building - Introduce high-quality & innovative To-Go storage products - Introduce new and improved range of products - Gain share in premium niche do
Slide 29: Mass premium range leveraging the Borosil brand
- Opportunity to create a high quality mass premium range leveraging the Borosil brand - Commenced without investments in manufacturing assets - Expanding range of product offerings - Increase Made in India’s portfolio and reduced dependence on China supply chain Borosil Limited | Q4FY24 Investor Pr
Slide 30: Glass storage opportunity in Indian kitchens
Indian kitchen storage dominated by plastic and steel - Very low penetration of glass storage Awareness of glass as an option on the rise - No health hazard as compared to plastic - Transparent as against opaque steel & plastic getting stained and translucent over time - Looks as good as new for ext
Slide 31: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 30
Slide 32: Our strategic ESG priorities and actions
Our strategic ESG priorities Our Actions - ESG targets disclosures & Dashboard to track the emissions - Aim to achieve Carbon neutral operations -Upgradtion of Effluent Treatment Plant (ETP) and integration with - Create a positive water balance Zero Liquid Discharge (ZLD) system for optimum utiliza
Slide 33: Shareholding and market capitalisation
No. of Shares issued of ₹1 each : 11,45,82,095 Shareholding % as on 31st Mar 2024 Public & Others 27.51% 1369812D:IN BOROLTD Bloomberg NSE Ticker Ticker DIIs 1.46% FIIs Promoter & Promoter Group 543212 ~₹4093crs 0.85% BSE Ticker Market CAP 70.18% Market Cap (NSE) as on 31st Mar 2024 Promoter & Promo
Slide 34: Borosil Limited | Q4FY24 Investor Presentation
Borosil Limited | Q4FY24 Investor Presentation 33
Slide 35: Thank You
Thank You Investor Relations Anand Sultania (Chief Financial Officer) anand.sultania@borosil.com Corporate Address 1101, Crescenzo, G - Block, Opposite MCA Club, Bandra Kurla Complex, Balesh Talapady Bandra (East), Mumbai - 400 051, India. (VP Investor Relations & Business Analysis) www.borosil.com