Butterfly Gandhimathi Appliances Limited · NSE:BUTTERFLY
Butterfly Gandhimathi Appliances — Q3 FY22 Earnings Presentation
33 slides from Butterfly Gandhimathi Appliances's earnings presentation, Feb 7, 2022
Slide 1: Results presentation cover letter to exchanges
^ I llul *\ITE w -@"- BUTTERFLY GANDHIMATHI APPLIANCES LIMITED February 7,2022 General Manager - DCS, Manager, Dept. of Corporate Services, National Stock Exchange of India Ltd BSE Ltd, Exchange Plaza, Floor l. P.J.Towers. BandraKurla Complex, Dalal Street, Bandra (E), Mumbai - 400 001 Mumbai - 400
Slide 2: Q3 FY22 Results Presentation
(www.butterflyindia.com) Butterfly Gandhimathi Appliances Limited Q3 FY22 Results Presentation
Slide 3: Safe Harbour
Safe Harbour Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertaintie
Slide 4: Company At A Glance
Company At A Glance #1 21% In the top 3 In India for SS LPG Stoves & Table Top Wet Revenue CAGR In India for Domestic Kitchen Appliances Grinders FY17-21 Now present in all 29 870 Crore 500+ States in India Sales of Branded Products in FY21 Exclusive Distributors across India 0.1 28% 24% Debt to Equ
Slide 5: Agenda
01 Quarter Highlights 02 Company Overview Agenda 03 Historical Financial Overview © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 6: Result Highlights
RESULT HIGHLIGHTS © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 7: Q3 FY22 – Performance Highlights
Q3 FY22 – Performance Highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) PBT (Rs. crore) PAT (Rs. crore) 36.2 28.5 18.5 297.9 258.5 21.6 14.0 9.0 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 ▪ Total Income (Net) during Q3 FY22 stood at Rs. 258.5 crore, as against Rs. 297.9 crore
Slide 8: Q3 FY22 - Abridged Profit & Loss Statement
Q3 FY22 - Abridged Profit & Loss Statement Particulars (Rs. crore) Q3FY21 Q3FY22 Total Net Revenues (Incl. OI) 298.3 258.9 - Branded Net Revenues 297.9 258.5 Revenue decreased by 13% due to shift of festival seasonal sale - Other Income 0.4 0.4 in the previous quarter Q2FY22 Material Cost 173.6 155.
Slide 9: Branded Sales
Branded Sales YoY Particulars (Rs. crore) Q3FY21 Q3FY22 Growth Kitchen Appliances 221.7 180.4 -18.6% Cooker/Cookware 71.7 71.0 -1.0% Others 4.5 7.1 58.4% Total 297.9 258.5 -13.2% ▪ Due to the preponement of Festive season this year sales got preponed to Q2FY22 which has resulted in lower revenue in
Slide 10: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crores) Dec-18 Dec-19 Dec-20 Dec-21 ASSETS Non-Current Assets 172.4 172.0 175.2 175.4 Property, Plant and Equipment 124.4 132.7 130.0 130.3 Capital Work-in-Progress 4.0 1.3 3.2 7.2 Other Intangible Assets 39.5 36.6 33.4 30.7 Financial Assets 2.9 1.5 6.3 4.0 Othe
Slide 11: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crores) Dec-18 Dec-19 Dec-20 Dec-21 Long Term Borrowings EQUITY & LIABLITIES reduced due to Pre-closure of certain Term Loans. Shareholders’ Funds 188.4 200.3 216.8 253.7 Non-current Liabilities (NCL) 43.7 36.5 27.0 17.6 Long-term Borrowings 41.0 32.4 19.1 6.4 O
Slide 12: 9M - Abridged Profit & Loss Statement
9M - Abridged Profit & Loss Statement Particulars (Rs. crore) 9MFY21 9MFY22 Revenue grew by Total Net Revenues (Incl. OI) 664.4 807.2 21.5% across all - Branded Net Revenues 663.4 806.0 channel during the period. - Other Income 1.0 1.2 Material Cost 384.4 493.9 - Cost of Materials Consumed 233.2 402
Slide 13: Reduction in Debt and Interest Cost
Reduction in Debt and Interest Cost Gradual decline in Debt (Rs Crore) FY18 FY19 FY20 FY21 9MFY21 9MFY22 Short Term 145 104 127 0 10 11 Long Term** 63 50 43 28 35 13 Interest Cost has reduced significantly (Rs Crore) FY18 FY19 FY20 FY21 (Rs Crore) Q3FY21 Q3FY22 Interest Charges 15.7 20.0 20.8 13.9 I
Slide 14: Significant Improvement in Debtors Days
Significant Improvement in Debtors Days Debtors Days 77 60 63 61 52 41 30 FY17 FY18 FY19 FY20 FY21 9MFY21 9MFY22 ▪ Relentless focus on improving Branded business debtors days have now started yielding results ➢ Currently stands at 41 days in 9MFY22 vs 52 days in 9MFY21 ▪ Measures driving the improve
Slide 15: Optimizing Working Capital Management
Optimizing Working Capital Management Working Capital Days 106 87 56 48 36 ▪ Net working capital days has been increased from 48 days in 9MFY21 to 56 days in 9MFY22. FY19 FY20 FY21 9MFY21* 9MFY22* ➢ Debtors days (explained in slide 13) ➢ Inventory days are higher due to lower sales in Q3 as compared
Slide 16: New Model Launches
New Model Launches © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved. 15
Slide 17: New Model Launches
New Model Launches © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved. 16
Slide 18: New Model Launches
New Model Launches © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved. 17
Slide 19: Company Overview
COMPANY OVERVIEW © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 20: Butterfly Gandhimathi Appliances Limited
Butterfly Gandhimathi Appliances Limited ▪ Established in 1986 by late Shri V. Murugesa Chettiar, the Company is one of the leading manufacturer of Kitchen and Electrical Appliances in the country ▪ The Company sells its products branded as “Butterfly” across the country through distributors, direct
Slide 21: Revenue Profile
Revenue Profile Annual Net Revenue* (Rs. crore) 901 870 730 764 652 679 590 529 541 402 870 652 679 541 461 445 468 398 402 329 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Branded Sales Govt Order *Further break down of branded sales is given in next slide © 2022 Butterfly Gandhimathi Applianc
Slide 22: Branded Retail Sales
Branded Retail Sales 16.5% Branded Sales through Retail channel (Rs. crore) CAGR Branded Sales through Gas dealer channel (Rs. crore) ~94% of Total Sales 815 123 131 Free distribution of product in Tamil Nadu led to moderate 609 118 125 growth during FY13 to FY16 527 107 92 101 440 354 353 350 331 7
Slide 23: Milestone
Milestone ▪ Bagged the TNCSC order for the 4th ▪ Year of Incorporation ▪ Awarded patent for 3 conical ▪ First in India to receive “GREEN consecutive year – latest order amounting to ▪ Imported machinery to set up stone Table Top Wet Grinder LABEL‟ Certification for high thermal Rs. 510 crore for man
Slide 24: State of the Art Manufacturing Capability
State of the Art Manufacturing Capability The Company has 1 state of the art R&D facility, with in- Manufactures the following 5 products: house design studio with a dedicated team of 15 people 1. LPG Stoves ▪ Entire function operated on SAP environment ( All modules). 2. Mixer Grinders ▪ Product wi
Slide 25: Strong R&D Capabilities
Strong R&D Capabilities R&D focused Company with a demonstrated track record in innovation • To introduce Stainless Steel Pressure Cookers in India 1 st • To manufacture Stainless Steel LPG Stoves in India • To introduce Stainless Steel Vacuum Flasks in India which deliver enhanced heat retention up
Slide 26: Augmenting Organic Growth
Augmenting Organic Growth Increased Product Categories For Wider Product Portfolio And Higher Market Share Product Categories (Nos.) SKUs (Nos.) 687 702 731 619 651 20+ 20+ 20+ 20+ 20+ 20+ 20+ 20+ 552 554 500 320 6 6 6 250 250 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 201
Slide 27: Annual Financial Overview
ANNUAL FINANCIAL OVERVIEW © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 28: Key Financials
Key Financials Revenue from Operations (Rs. crore) EBITDA (Rs. crore) Profit After Tax (Rs. crore) 870 81 37 652 679 48 41 9 36 5 4 541 402 -24 -56 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 EPS (Rs.) Debt - Equity Ratio Net Worth (Rs. crore) 1.2 224 20.2 180 189 193
Slide 29: Historical Profit & Loss
Historical Profit & Loss Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 Company grew by 29% Total Net Revenues (Incl. OI) 407 542 654 680 871 across all product categories - Branded Net Revenues 405 541 652 679 870 - Government Net Revenues - - - - - - Other Income 2 2 2 2 1 Branded Net Revenue Ma
Slide 30: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 ASSETS Non-Current Assets 178 172 176 179 177 Current Assets 241 296 287 313 312 Inventories 109 125 142 170 178 Trade Receivables- TNCSC/PCWS 22 17 4 4 2 Trade Receivables-Branded 66 113 113 113 72 Cash & cash equivalents 31 23 1
Slide 31: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 EQUITY & LIABLITIES Shareholders’ Funds 175 180 189 193 224 Non-current Liabilities (NCL) 63 46 42 36 14 Long-term Borrowings 63 46 39 32 12 Other NCL - - 3 3 2 Current Liabilities (CL) 181 242 232 264 251 Short-term Borrowings 84
Slide 32: Commercials
Commercials ▪ Butterfly Opal Mixer Grinder Diwali Film 35Sec With Offer Tamil HD ▪ Butterfly Matchless Mixer Grinder Malayalam ▪ Butterfly Standard Plus Pressure Cooker Tamil ▪ Butterfly Blue Flame Malayalam ▪ Butterfly Reflections Stove Tamil ▪ Butterfly Power Hob Malayalam ▪ Butterfly Matchless Ta
Slide 33: Thank You
Thank You Mayuresan VMG Vice President – Finance & Strategy Butterfly Gandhimathi Appliances Limited Email: vmgm@butterflyindia.com © 2022 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
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