Bajaj Consumer Care Limited · NSE:BAJAJCON
Bajaj Consumer Care — Bajaj — Investor Presentation (January 2011)
23 slides from Bajaj Consumer Care's investor presentation, January 2011
Slide 1: Investor Presentation
Investor Presentation January 2011
Slide 2: Industry Overview
Industry Overview
Slide 3: Industry Size and Structure
Industry Size and Structure FMCG Rs.116,100 cr (USD 24.8 bn) Hair Care 8% market share Rs. 9,200 cr (USD 2.0 bn) Shampoo Perfumed Oil Coconut Oil Hair Conditioners Hair Dyes Rs. 2,840 cr Rs. 2,900 cr Rs.2,100 cr Rs. 100 cr Rs. 1,200 cr (USD 600 mn) (USD 623 mn) (USD 448 mn) (USD 17 bn) (USD 253 mn)
Slide 4: Hair Oil Market in India
Hair Oil Market in India Overall Hair Oil Market – Volume Overall Oil Market – Value 250,000 6,000 210,374 4,971 197,057 5,000 200,000 4,498 172,528 171,068 4,075 4,000 3,707 (Rs. Cr.) 150,000 132560 (In KLtr) 2,827.3 9M-o-9M 7% 3,000 Y-o-Y 6.7% Y-o-Y 30% Y-o-Y 14% Y-o-Y 10.5% 9M-o-9M 7% Y-o-Y 31% Y
Slide 5: Light Hair Oil Market in India
Light Hair Oil Market in India Light Hair Oil – Volume Light Hair Oil – Value 25,000 800 696 19,516 700 20,000 18,390 610 579 15,745 600 15,603 472 (Rs. Cr.) 15,000 500 (In KLtr) 11764 400 9M-o-9M 8% Y-o-Y 6.1% 335.6 Y-o-Y 33% Y-o-Y 18% 9M-o-9M 11% 10,000 Y-o-Y 40% Y-o-Y 29% Y-o-Y 14% 300 5,000 200
Slide 6: Market Shares (All India - Urban Plus Rural)
Market Shares (All India - Urban Plus Rural) Market Share* Market Share Month (Value) ( Volume) March 10 50.3% 47.7% April 10 50.4% 47.7% May 10 50.6% 47.9% June 10 50.8% 48.0% July 10 51.1% 48.2% Aug 10 51.5% 48.5% Sept 10 51.9% 48.8% Oct 10 52.0% 48.8% Nov 10 52.2% 48.8% Dec 10 52.3% 48.7% * MAT M
Slide 7: Statewise Market Share
Statewise Market Share LHO Volume Proportion ADHO Market Share All Figs MAT Dec 2010 Saliency Urban Rural Total Urban Rural All India (U+R) 100.0% 67.0% 33.0% 48.7% 46.3% 53.6% Delhi 7.2% 100% 41.5% 41.5% Rajasthan 9.1% 63% 37% 48.1% 45.5% 52.5% Punjab 6.0% 66% 34% 41.2% 39.8% 43.7% Haryana 4.5% 85%
Slide 8: Light Hair Oil Market – Key Characteristics
Light Hair Oil Market – Key Characteristics Rural –Urban break up of LHO market Share of Distribution Channels in LHO market – FY10 Modern Trade (11%) Others (11%) 2.0% 6.0% Cosmetics Traditional (0%) channels dominate 5.0% Rural distribution, but 33.0% Urban dominated Chemists alternate channels se
Slide 9: Company Overview
Company Overview
Slide 10: Bajaj Corp Ltd. (BCL) – An Overview
Bajaj Corp Ltd. (BCL) – An Overview Part of Bajaj Group which has business interests Bajaj Almond Drops Hair Oil - A premium perfumed in varied industries including sugar, consumer hair oil containing almond oil and Vitamin E goods, power generation & infrastructure Competitors – Keo Karpin (Dey’s
Slide 11: Bajaj Almond Drops - A Premium Brand
Bajaj Almond Drops - A Premium Brand Strong Market Share Growth in Recent Years . . . But not at the cost of pricing power 60% 42 50.3% 52.5% 45 40 46.5% 40 38 50% 35 40.3% 35 32 36.7% 29 30 40% 30 28 31.4% 30% 25 20 20% 15 10 10% 5 0% 0 FY05 FYO6 FYO7 FY08 FY09 FY10(9M) Mar-03 Mar-05 Dec-05 Jul-06
Slide 12: Consumer Profile- Almond Drops
Consumer Profile- Almond Drops For Almond Drops the consumer is: — Gender Male- 55% Female- 45% — Age Group 15 to 39 yrs ( 60% of users) — Urban Vs Rural 69% are Urban consumers — Socio Economic Class (SEC)- Urban A1- 13% A2- 17% B1- 17% B2- 12% Source - IRS
Slide 13: Strong Distribution Network
Strong Distribution Network Distribution Network Distribution Structure The company reaches Factory (5) consumers through 1.74 mn 45 retail outlets serviced by OWN – Himachal Pradesh -2, Uttarakhand-1 5477 direct distributors and THIRD PARTY - Himachal Pradesh-1, Rajasthan-1 54 9,900 wholesalers 169
Slide 14: Organization Structure
Organization Structure Kushagra Bajaj Chairman Roshan Hinger Vice Chairman Apoorv Bajaj Sumit Malhotra President (Operations) Director (Sales & Marketing) D. K. Maloo DGM - Sales DGM – Marketing GM (Finance) & C.F.O. Co. Secretary DGM (HR) AGM - North AGM - East AGM - Central AGM – West RSM - South
Slide 15: Financial Information
Financial Information Summary Income Statement Summary Balance Sheet Particulars Particulars 9M 2011 9M 2010 FY2010 FY2009 9M 2011 9M 2010 FY2010 FY2009 (In Rupees Crores) (In Rupees Crores) Sales (Net) 248.83 208.49 330.00 244.42 Shareholders Equity 375.73 26.13 25.61 51.58 EBITDA 77.39 64.05 97.40
Slide 16: EBITDA & PAT Performance
EBITDA & PAT Performance Particulars Q3FY11 Q3FY10 YoY% 9M FY11 9M FY10 YoY% (In Rs. Crores) EBITDA 25.74 20.73 24.16% 77.39 64.05 20.84% Profit Before Tax (PBT) 30.44 22.49 35.36% 83.97 68.15 23.21% PAT before Extra 24.46 18.65 31.13% 67.33 56.50 19.17% Ordinary Items Profit After Tax (PAT) 19.40 1
Slide 17: Profit & Loss Q1, Q2, Q3 & 9MFY11 & FY10
Profit & Loss Q1, Q2, Q3 & 9MFY11 & FY10 In Rs. Crores Q1F11 Q1F10 YoY% Q2F11 Q2F10 YoY% Q3F11 Q3F10 YoY% 9MFY11 9MFY10 YOY% Net Sales 81.71 71.11 14.90% 81.24 68.16 19.19% 85.88 69.22 24.08% 248.83 208.49 19.35% Material Cost 32.55 28.47 14.30% 34.81 25.82 34.81% 37.92 27.92 35.80% 105.28 82.22 28.
Slide 18: Sales Performance
Sales Performance Sales : Q3FY10 v/s Q3FY11 Sales : 9MFY10 v/s 9MFY11 100 300 80 250 In Rs. Crores In Rs. Crore 200 60 150 40 85.88 248.83 69.22 100 208.49 20 50 0 0 Q3FY10 Q3FY11 9M FY10 9M FY11 Sales for Q3 FY2010-11 increased by 24.07% Sales for the 9 months ended Dec’10 has increased by 19.3
Slide 19: Statement of Quarter wise Sales (Volume & Value)
Statement of Quarter wise Sales (Volume & Value) STATEMENT OF QUARTERWISE SALES (VOLUME - In Cases ) % Increase over ADHO BAHO ASHO Others Total corresponding period of 2011 2010 2011 2010 2011 2010 2011 2010 2011 2010 Previous Year Quarter 1 654,856 582,250 14,888 24,620 6,232 14,110 5,494 6,318 68
Slide 20: Breakup of RM/PM Costs (for 9M FY11)
Breakup of RM/PM Costs (for 9M FY11) Key Raw & Packing Material % to Sales % to Total Cost LLP 14.92% 35.42% Glass Bottles 11.14% 26.45% Perfumes & other additives 3.73% 8.86% Refined Veg. Oil 3.47% 8.25% Corrugated Boxes 2.85% 6.76% Caps 2.36% 5.60% Others 3.65% 8.66% TOTAL 42.11% 100.00% * Consump
Slide 21: Change in Prices of Key Ingredients
Change in Prices of Key Ingredients Per Kg Rates of LLP Per Kg Rates of Refined Oil 70.00 60.00 60.00 65.37 66.39 50.00 58.32 62.77 49.92 51.34 53.33 50.00 56.92 40.00 51.14 50.04 51.41 53.63 40.00 43.17 43.04 44.70 43.58 30.00 30.00 20.00 20.00 10.00 10.00 0.00 0.00 Qtr 1 Qtr 2 Qtr 3 Upto Q3 Qtr 1
Slide 22: Growth Strategy
Growth Strategy Strategy Action Steps Convert coconut hair oil users to light hair oil users through sampling, targeted advertising Market share gains from campaigns, product innovation and creating awareness about product differentiation including other hair oil segments communicating the advanta
Slide 23: Thank You
Thank You