V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q1 FY2015 Earnings Presentation
21 slides from V-guard Industries's earnings presentation, 2014
Slide 1: V-Guard Industries Q1 FY2015 Earnings Presentation
V-Guard Industries Q1 FY2015 Earnings Presentation
Slide 2: Disclaimer
Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 3: Table of Contents
Table of Contents C o m p a ny O v e r v i e w MD’s Message F i n a n c i al H i g h l i g ht s S e g m e n t - w i se / Ge o g r ap hi c a l B r e a k u p o f R e v e n ue s Outlook A n n e x ur e 3
Slide 4: Company Overview
Company Overview • Electronics - Stabilizers, UPS and Digital UPS C o m p r e he n s iv e p o r t f o li o • Electricals - Pumps, House Wiring and Industrial Cables, Electric Water Heaters, Fans catering to the mass • Other products include Solar Water Heaters, Induction cooktops, Switchgears and Mi
Slide 5: Managing Director's Message
Managing Director’s Message Commenting on the performance for Q1 FY2015, Mr. Mithun Chittilappilly, Managing Director – V-Guard Industries Limited said, “We have started the year on a strong note with a topline growth of 17% YoY on a high base last year. The growth was driven by stabilizer, fan and
Slide 6: Key Highlights – Q1 FY2015
Key Highlights – Q1 FY2015 Revenue growth of 17% YoY to Rs. 478 crore Working capital cycle improves 6 days QoQ • Non-South markets grew by 31% YoY and accounted for • Cash conversion cycle at 70 days in Q1 FY15 35% of total sales • Inventory down by 4 days QoQ Gross profit up 18% YoY to Rs. 124 cro
Slide 7: Financial Highlights (Q1 FY2015)
Financial Highlights (Q1 FY2015) Total Income (Rs. crore) Gross Profit EBITDA (Rs. crore) PAT (Rs. crore) 478 124 408 41 22 105 32 18 Q1 FY14 Q1 FY15 Q1 FY14 Q1 FY15 Q1 FY14 Q1 FY15 Q1 FY14 Q1 FY15 Key ratios (%) Q1 FY15 Q1 FY14 Gross Margin 26.0% 25.8% EBITDA Margin 8.6% 7.9% Net Margin 4.7% 4.3% A
Slide 8: Financial Highlights – B/S Perspective
Financial Highlights – B/S Perspective Balance Sheet Snapshot (Rs. crore) 30 June 2014 31 March 2014 30 June 2013 Net worth 340.4 318.4 279.2 Total debt 82.5 108.4 114.9 o Working capital 44.4 68.2 76.9 o Term loan 38.1 40.2 38.0 Acceptances 69.3 101.3 62.0 Fixed Assets 166.0 169.7 161.1 Key Ratios
Slide 9: Segment-wise Breakup of Revenues – Q1 FY15 vs Q1 FY14
Segment-wise Breakup of Revenues – Q1 FY15 vs Q1 FY14 Q1 FY2015 Q1 FY2014 Products Contribution (%) Contribution (%) YoY growth (%) (Rs. cr.) (Rs. cr.) Stabilizers 111.0 23.2% 90.2 22.1% 23.1% Standalone UPS 6.9 1.5% 11.5 2.8% -39.6% Digital UPS 75.5 15.8% 63.3 15.5% 19.1% Electronics Segment Total
Slide 10: Geographical Breakup of Gross Revenues
Geographical Breakup of Gross Revenues South Non-South Contribution (%) 314 167 414 287 480 127 31% 35% South 69% 65% Non-South Q1 FY14 Q1 FY15 Q1 FY14 Q1 FY15 Q1 FY14 Q1 FY15 10
Slide 11: Outlook
Outlook Distribution Advertising Working capital Financial Industry Drivers Network Expenditure efficiencies Performance • Strong demand from • To increase more • Continued investments • Target to reduce cash • Expectations of 20% housing construction retailers below existing in advertising and conv
Slide 12: Annexure
Annexure
Slide 13: Production Model
Production Model PVC Cable Factory LT Cable Factory Solar Water Heater Factory Stabilizer Manufacturing Units No. of Product Units Location Outsourcing Objectives Own Manufacturing Facilities • Asset light model outsourcing ~60% products PVC Wiring Cables 2 Coimbatore, Kashipur • Complete control ov
Slide 14: Strong Financial Performance FY09-14
Strong Financial Performance FY09-14 Revenue EBITDA and EBITDA Margins CAGR – 37% 1,518 CAGR – 29% 1,360 140 15.0% 12.0% 120 11.1% 10.7% 12.0% 965 100 8.3% Rs. crore Rs. crore 80 9.0% 8.4% 699 9.9% 60 6.0% 430 317 40 3.0% 20 35 52 75 96 114 127 0 0.0% FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2009
Slide 15: Strong Financial Performance FY09-14
Strong Financial Performance FY09-14 ROE ROCE Net Worth Gross D/E 25.9 25.3 350 1.40 23.1 24.0 300 1.20 19.1 250 0.8 1.00 17.6 Rs. crore 24.1 23.0 22.0 200 0.6 0.6 0.80 20.0 0.5 18.0 150 0.60 0.3 100 0.2 0.40 13.7 50 126 141 172 211 261 318 0.20 0 0.00 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY200
Slide 16: Segment-wise Breakup of Revenues – FY14 vs. FY13
Segment-wise Breakup of Revenues –FY14 vs. FY13 FY2014 FY2013 Products Contribution (%) Contribution (%) YoY growth (%) (Rs. cr.) (Rs. cr.) Stabilizers 266.4 17.6% 237.8 17.5% 12.0% Standalone UPS 36.3 2.4% 48.3 3.6% -24.9% Digital UPS 147.7 9.7% 173.3 12.7% -14.7% Electronics Segment Total 450.4 29
Slide 17: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Bluebird, Capri, Consumer Durable stores, 400.00 800.00 1,200.00 Logicstat, 100% Outsourced Electrical and Hardware Premier, Stores Everest STAB
Slide 18: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Crompton Electrical and hardware Greaves, 900.00 1,100.00 2,000.00 90% Outsourced Stores, Pump and Pipe Kirloskar, CRI, fittings Stores Texmo MO
Slide 19: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Numeric, 160.00 240.00 400.00 APC, Outsourced Consumer Durable stores Emerson UPS Consumer Durable stores, Microtek, Electrical and Hardware 6,5
Slide 20: About V-Guard Industries
About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, incepted in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a mult
Slide 21: Thank You
THANK YOU