Kajaria Ceramics Limited · NSE:KAJARIACER
Kajaria Ceramics — Q4 FY20 Earnings Presentation
34 slides from Kajaria Ceramics's earnings presentation, Jun 26, 2020
Slide 1: Outcome of the Board Meeting – Kajaria
YEARS OF TRANSFORMATION Kajaria June 26, 2020 BSE Limited The National Stock Exchange of India Ltd. P. J. Towers Exchange Plaza Dalal Street, Fort Sandra Kurla Complex Mumbai - 400 001 Sandra (E) Mumbai - 400 051 Dear Sir, Re.: Outcome of the Board Meeting and announcements pursuant to the SEBI (Lis
Slide 2: Independent Auditor's Report on Standalone Results
Walker Chandiok &_Co LLP 1M Iker Chandlok & Cc, LLP 21'5.I Floor, DLF Squam ja,;ero1tdo Millg, OU: Phaso Ii Gurugmm - 122 002 !tldlo T ~s·! 12-1462 8000 F "1l112H-B2:/J001 Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Li
Slide 3: Independent Auditor's Report on Standalone Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Standalone Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) Emphasis of Matter 4. We draw attention towards
Slide 4: Independent Auditor's Report on Standalone Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Standalone Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) • Obtain an understanding of internal control r
Slide 5: Statement of Audited Standalone Financial Results
Kajaria STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE...Q!JARTER AND YEAR ENDED 31 MARCH 2020 (~ in crores, except per share data2 Quarter ended Year ended PARTICULARS 31 March 2020 31 December 2019 31 March 2019 31 March 2020 31 March 2019 (refer note 7) (Unaudited) (refer note 7) (Audi
Slide 6: Standalone Statement of Assets and Liabilities
Kai€!!!.~ STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2020 (t in croresl As at Asat PARTICULARS 31 March 2020 31 March 2019 /Audited\ IAudited\ ASSETS (1) Non-current assets (al Property, plant and equipment 654.28 706.81 (b) Capital work-in-proQress 8.39 0.49 (cl Right-of-use asse
Slide 7: Standalone Statement of Cash Flows
Kajari~ KAJARIA CERAMICS LIMITED STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2020 (! in crores) Year ended Year ended 31 March 2020 31 March 2019 A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 339.33 373.11 Adjusted for: D epreciation and amortisation expenses 78.85 63.4
Slide 8: Notes to Standalone Financial Results
Kajaria Notes: 1 The audited standalone financial results of the Company for the quarter and year ended 31 March 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 26 June 2020. The statutory auditors have expressed an unmodifie
Slide 9: Independent Auditor's Report on Consolidated Results
Walker Chandiok &.Co LLP Wlllk1tr Cl'lDAdloli 4 (:c, LU> 2~st f!C1«, OLF Squnro JIICB!Slid(J MIKI), OlF Ph.WO ii 0UfllfJfflffi - 122 002 l•d8 r -,.,!J11 12A -162 ijOOO F a+gl 12446:?llOO'I Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation
Slide 10: Independent Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &_Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) Basis for Opinion 3. We conducted our audit i
Slide 11: Independent Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) 9. As part of an audit in accordance with the
Slide 12: Independent Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) management, and our opinion in so far as it r
Slide 13: Annexure 1: List of entities included in the Statement
Walker Chandiok &_Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of Kajaria Ceramics Limited Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd) Annexure 1 List of entities included in the S
Slide 14: Statement of Audited Consolidated Financial Results
Kajaria STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2020 Quarter ended Year ended PARTICULARS 31 March 2020 31 December 2019 31 March 2019 31 March 2020 31 March 2019 (refer note 6) (Unaudited) (refer note 6) (Audited) (Audited) 1. INCOME a) Revenue fr
Slide 15: Consolidated Statement of Assets and Liabilities
Kaj~r,l~ CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 31 MARCH 2020 i( ... ~ -·-·-- in crores Asat As at PARTICULARS 31 March 2020 31 March 2019 iAudited\ <Audited\ ASSETS (1) Non-current assets (al Property, plant and equipment 1,142.49 1,067 .11 (bl Capital work-in-proqress 25.68 93.39 (
Slide 16: Consolidated Statement of Cash Flows
KAJARIA CERAMICS LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2020 {f in crores) Year ended Year ended 31 March 2020 31 March 2019 A. CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 312.45 358.03 Adjustments for : D epreciation and amortisation e,qJense 108.09 89.0
Slide 17: Audited Consolidated Segment Wise Revenue, Results, Assets and Liabilities
Kajaria AUDITED CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, ASSETS ANO LLABII-IIIES FOR THE QUARTER AND YEAR ENDED 31 MARCH 2020 ({ in crores,except per share data) Quarter ended Year ended 31 March 2020 31 December 2019 31 March 2019 31 March 2020 31 March 2019 PARTICULARS (refer note 6) (Unaudited
Slide 18: Notes to Consolidated Financial Results
Kajaria Notes: 1 The audited consolidated financial results of the Group for the quarter and year ended 31 March 2020 have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 26 June 2020. The statutory auditors have expressed an unmodifie
Slide 19: Extract of Audited Consolidated Financial Results
Kajaria EXTRACT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2020 (tin crores, except per share data) Quarter ended Year ended Sr Particulars 31 March 2020 No 31 December 2019 31 March 2019 31 March 2020 31 March 2019 (Audited) (Unaudited) (Audited) (Audited) (Au
Slide 20: Additional Disclosure under Regulation 52(4)
YEARS OF Kajaria TRANSFORMATION ADDITIONAL DISCLOSURE UNDER REGULATION 52 (4) OF THE SEBI (LODR) REGULATIONS, 2015 For the year ended 31 March 2020 (Standalone) : 1. Credit Rating and Change in Credit rating (if any) : Kept at the same level for both Long term and non fund based And unsecured loans
Slide 21: Kajaria Ceramics Limited – Q4 FY20 / FY20
KAJARIA CERAMICS LIMITED Investor Update – Q4 FY20 / FY20 June 26, 2020 1/14
Slide 22: Content
Content Chairman’s Message Financial Performance – Q4 FY20 / FY20 Balance sheet perspective Subsidiaries Income Statement Shareholding Pattern 2/14 Investor Update Q4 FY20 / FY20
Slide 23: Chairman's Message
Chairman’s Message We stepped into the new fiscal at a time when life came to a sudden halt. As the pandemic spread wide and fast, social and economic activities came to a near standstill. Even though the numbers continue to surge in our nation, the resilient India has opened up business activities
Slide 24: Tile Volume Data (consolidated)
Tile Volume Data (consolidated) Production Growth (MSM) - Q4 FY20 Production Growth (MSM) - FY20 20 80 17.24 70 67.33 64.77 16 15.63 60 5.89 21.33 20.77 5.07 50 12 40 8 30 11.35 20 46.00 44.00 10.56 4 10 0 0 Q4 FY19 Q4 FY20 FY19 FY20 Own Manufacturing Subsidiaries Own Manufacturing Subsidiaries Sale
Slide 25: Revenue Growth - consolidated
Revenue Growth - consolidated Rs. / Crores 2956.20 815.31 2808.01 7.31 3000 16.82 800 184.84 52.82 28.92 652.04 174.24 137.68 2500 416.68 5.78 486.14 Plywood 41.14 Plywood 600 Sanitary ware / Faucets 2000 684.24 Sanitary ware / Faucets 116.92 198.51 591.42 Outsourcing (Tiles) Outsourcing (Tiles) 140
Slide 26: Profitability - Consolidated
Profitability - Consolidated Rs. / Crores 80 260 255.33 226.57 70 66.00 220 60 180 49.59 50 140 40 100 30 60 20 10 20 Q4 FY19 Q4 FY20 FY19 FY20 Refer Slide 12 for detailed Income Statement 6/14 Investor Update Q4 FY20 / FY20
Slide 27: EBITDA / EBITDA Margin (consolidated) – quarterly progression
EBITDA / EBITDA Margin (consolidated) – quarterly progression 125 22% 122.94 20% 111.33 105.97 105.23 100 18% Rs./ Crores 93.37 16% 15.08% 15.14% 15.02% 75 14.72% 14% 14.32% 12% 50 10% Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 EBITDA (Rs. / Crores) EBITDA Margin (%) 7/14 Investor Update Q4 FY20 / FY20
Slide 28: Key Ratios (consolidated): Net Debt and Net Debt Equity
Key Ratios (consolidated)*………… Net Debt (Rs. Crore) * Net Debt Equity (X) * 300 0.40 0.30 200 161 0.20 100 88 0.13 0.10 0.06 0 0.00 Mar-17 Mar-18 Mar-19 Mar-20 Mar-17 Mar-18 Mar-19 Mar-20 -0.06 -0.10 -0.08 -100 -107 -132 -0.20 -200 * Net of cash and cash equivalents 8/14 Investor Update Q4 FY20 / FY
Slide 29: Key Ratios (consolidated): Working Capital Cycle and ROE
Key Ratios (consolidated) Working Capital Cycle (days) Return on Equity (Avg.) 35 80 73 60 58 60 25 46 23.58 40 18.61 15 15.49 15.53 20 0 5 Mar-17 Mar-18 Mar-19 Mar-20 Mar-17 Mar-18 Mar-19 Mar-20 • Working capital days’ excludes capex creditors and cash, cash equivalent & bank balance. • ROE as on 3
Slide 30: Subsidiaries
Subsidiaries A. JAXX VITRIFIED Jaxx Vitrified is based in Morbi (Gujarat). Kajaria has 87.37% stake in the same. Jaxx has combined annual capacity of 10.20 MSM of polished vitrified tiles comprising 2 plants. Jaxx has operated at full capacity during FY 2019-20. B. VENNAR CERAMICS Vennar is based in
Slide 31: Subsidiaries
Subsidiaries D. KAJARIA TILES PRIVATE LIMITED* Kajaria Tiles (a wholly owned subsidiary) has commissioned a manufacturing facility of glazed vitrified tiles with a capacity of 5.00 MSM p.a. in Andhra Pradesh and started commercial production in September 2019. The plant has operated at 87% capacity
Slide 32: Income Statement – Financial highlights
Income Statement Financial highlights (Rs / Crores) Q4 FY20 Q4 FY19 Growth FY20 FY19 Growth Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Net Sales 603.06 652.04 734.27 815.31 -18% -20% 2571.80 2808.01
Slide 33: Shareholding Pattern
Shareholding Pattern As on 31st Mar. 2020 Equity Shares Outstanding – 158.96 millions Shareholding 14.03% Public / Others NRI's 0.49% Promoters 47.58% FIs /FPIS / Mutual Funds 37.90% 13/14 Investor Update Q4 FY20 / FY20
Slide 34: About Us
About Us Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 9th largest in the world. It has an annual capacity of 73.00 mn. sq. meters presently, distributed across eight plants - one in Sikandrabad in Uttar Pradesh, one in Gailpur and one in Malootana in Rajas