Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — FY2018 Earnings Presentation
34 slides from Pidilite Industries's earnings presentation, May 25, 2018
Slide 1: Investor Update cover letter to stock exchanges
.4.0selet Pidilite 25th May, 2018 The Secretary The Secretary BSE Ltd. National Stock Exchange of India Ltd. Corporate Relationship Dept., Exchange Plaza, Plot no. C/1, G Block, 14th floor, P. J. Tower, Bandra-Kurla Complex, Dalai Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code
Slide 2: Investor Update Quarter and Year ended March 2018
Pidilile Pidilite Industries Limited Investor Update Quarter and Year ended March 2018 Coverage • Financial Highlights • Business segment wise • Overseas subsidiaries performance • Domestic subsidiaries performance • Financial Results Investor Communication This investor update covers the Company’s
Slide 3: April – March 2018 Performance
April – March 2018 Consolidated Performance as compared to same period last year: • On a comparable basis*, net sales grew by 11.5% (excluding sales of Cyclo division of Pidilite USA Inc., which was sold by Pidilite USA Inc. in June, 2017). • Material cost, as a % to net sale, higher by 63 Bps. • Ot
Slide 4: Business Segment Wise Performance – Standalone
Business Segment Wise Performance – Standalone (On a comparable basis) Quarter ended Year ended Sr. Segment No. Mar-18 Mar-17 % Changes Mar-18 Mar-17 % Changes 1 Segment Net Sales a) Consumer & Bazaar Products 1,005 878 14.6% 4,365 3,868 12.9% b) Industrial Products 244 211 15.3% 864 802 7.8% c) Oth
Slide 5: Overseas subsidiaries performance
Overseas subsidiaries performance • The Company has 17 overseas subsidiaries (5 direct and 12 step-down), and one joint venture including those having manufacturing and selling operations in USA, Brazil, Thailand, Dubai, Egypt, Sri Lanka and Bangladesh. • The performance of major geographies in cons
Slide 6: Overseas subsidiaries commentary (Thailand, Lanka, MEA)
• Pidilite Bamco Ltd and Bamco Supply and Services, subsidiaries in Thailand, reported sales growth of 5.6% for the quarter and 10% for the full year. EBITDA for FY 17-18 declined by 8.7% on account of higher material cost and SG&A spends. • Pidilite Lanka continued to report good sales growth. Howe
Slide 7: Domestic subsidiaries performance
Domestic subsidiaries performance • The Company has 9 domestic subsidiaries and 2 partnership firms. • The performance of major subsidiaries is detailed below. These are like for like actual reported numbers and exclude consolidation impact. Quarter Ended Year ended Sales - Rs Cr FY 18 FY 17 Growth
Slide 8: Statement of Consolidated Audited Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF CONSOLI
Slide 9: Consolidated Audited Segment Information
---- 2 ---- CONSOLIDATED AUDITED SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31.03.2018 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2018 31.12.2017 31.03.2017 31.03.2018 31.03.2017 Audited Unaudited Audited Audited Audited 1 Segment Revenue a) Consumer & Bazaa
Slide 10: Audited Consolidated Statement of Assets and Liabilities
---3--- AUDITED CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2018 Rs. Crores As at As at Sr Particulars 31.03.2018 31.03.2017 No Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 802.59 789.12 (b) Capital Work-In-Progress 227.73 147.71 (c) Goodwill 177.4
Slide 11: Notes to the Consolidated Financial Results
---- 4 ---- Notes to the Consolidated Financial Results: 1. The above results have been reviewed by the Audit Committee on 23rd May 2018 and approved by the Board of Directors at their meeting held on 24th May 2018. 2. The Company has opted to publish Standalone as well as Consolidated Financial Res
Slide 12: Statement of Standalone Audited Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF STANDAL
Slide 13: Standalone Audited Segment Information
---- 2 ---- STANDALONE AUDITED SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31.03.2018 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2018 31.12.2017 31.03.2017 31.03.2018 31.03.2017 Audited Unaudited Audited Audited Audited 1 Segment Revenue a) Consumer & Bazaar
Slide 14: Audited Standalone Statement of Assets and Liabilities
---3--- AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2018 Rs Crores As at As at Sr Particulars 31.03.2018 31.03.2017 No Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 656.62 668.66 (b) Capital Work-In-Progress 164.13 126.57 (c) Goodwill 86.11 86
Slide 15: Notes to the Standalone Financial Results
---- 4 ---- Notes to the Standalone Financial Results: 1. The above results have been reviewed by the Audit Committee on 23rd May 2018 and approved by the Board of Directors at their meeting held on 24th May 2018. 2. The Company has opted to publish Standalone as well as Consolidated Financial Resul
Slide 16: Q4FY18 / FY18 Earnings Presentation
Pidilite a Pidilite Industries Ltd. Pidilite Industries Ltd. hi cy • MC _ aim Q4FY18/ FY18 Q4FY18/ FY18 Earnings Earnings Presentation Presentation
Slide 17: Disclaimer
Disclaimer .,,,o,•••••fti%, Pidilite This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from
Slide 18: Financial Highlights
3AIS3HQV NUM J113H1NAS LT ,AiSIHEiiJ 1 10DIA3A s111 21142114 lepueuld Financial Highlights 3111!P!d •
Slide 19: Q4FY18 Earnings Summary
Q4FY18 Q4FY18 Earnings Earnings Summary Summary „ssionms Pidilite Net Sales # EBITDA ** PBT PAT Standalone Rs 1,261 Cr Rs 255 Cr r I Rs 238 Cr YoY Growth L Consolidated* Rs 1,473 Cr Rs 274 Cr F Rs 248 Cr 1 YoY Growth L ## On On Comparable Comparable basisbasis after reflecting accounting after refle
Slide 20: FY18 Earnings Summary
FY18 Earnings Summary FY18 Earnings Summary A$011.0111 Pidilite . Net Sales # EBITDA** PBT PAT Standalone Rs 5,281 Cr Rs 1,294 Cr Rs 1,331 Cr Rs 955 Cr YoY Growth Consolidated* Rs 5,989 Cr Rs 1,344 Cr Rs 1,354 Cr Rs 966 Cr YoY Growth 6.0% Comparable basis On Comparable ## On basis after after reflec
Slide 21: Comments on Financial Performance
Comments on Financial Performance .,,,o,•••••fti%, Pidilite Standalone • Net Sales grew by 14.5% in Q4. • EBITDA, before non-operating income, at Rs 255 Cr declined by 0.3% in Q4. Consolidated • Net Sales grew by 19.8% in Q4 (excluding sales of Cyclo division of Pidilite USA Inc., which was sold by
Slide 22: Q4FY18 Overseas Performance
Q4FY18 Overseas Performance „,,00mminft%.„ Pidilite 40 Sales (in INR Crores) 25.0 23.1 21.1 21.2 20.2 20 17.1 16.6 16.9 11.4 I II r 10.8 8.0 7.2 7.1 6.6 2.3 3.1 0 I North South Bangaldesh Srilanka Thailand Egypt UAE Others America America Q4, FY 2016-17 Q4, FY 2017-18 6 4.1 4 3.1 1.3 1.6 2 0.7 0.9 0
Slide 23: FY18 Overseas Performance
FY18 Overseas Performance „„oomminit%.„ Pidilite 160 143.8 (in INR Crores) 140 Sales 120 108.5 97.2 93.6 100 85.1 84.0 75.6 72.3 80 60 46.7 51.3 40 31.8 26.3 26.3 21.4 20 13.9 10.5 0 I North South Bangaldesh Srilanka Thailand Egypt UAE Others America America FY 2016-17 FY 2017-18 20 15.2 15 13.5 10
Slide 24: Company Overview
Pidilite Company Company Overview Overview litar FEVICOL Fevi kwi ° . Fevicryl® nr 1ONE DROi. INSTANT ADHESIVE Rangee_a TM THE ULTIMATE ADHESIVE _Inser_tt steelgria 0 SHINE -I- PROTECTION FOR CARS & BIKES TILE FIXING SOLUTIONS WATERPROOFING EXPERT
Slide 25: Company Overview
Company Overview „,,00mminft%.„ Pidilite Brand established in 1959. 4 8 Regional offices with 23 plants and Pioneer in Consumer and 23 co-makers in India Specialty Chemicals * International manufacturing facilities Adhesives & sealants, in USA, Thailand, Dubai, Brazil, Egypt, construction chemicals,
Slide 26: Industry Segment Composition as on March 2018
Industry Segment Composition as on March 2018.,,,o,•••••fti% Pidilite , Industrial Resins {5%} Pigment & Preparation {6%} Industrial Adhesives {4%} Others {1%} Art/Craft Materials & Others {9%} IP 15% C&B 84% Construction/ Paint Chemicals {20%} Adhesives & Sealants {55%} C&B – Consumer & Bazaar, IP
Slide 27: 5-Year Performance by Business Segments
5-Year Performance by Business Segments ,o•owilmt%,, Pidilite Numbers represent Percentage of Total Sales Consumer and Bazaar Products Industrial Products IP includes Others also 85% 20% 19% 84% 84% 84% 18% 18% 17% 83% 83% 16% 16% 16% 82% 82% 81% 14% 81% 12% 80% 79% 10% 2013-14 2014-15 2015-16 2016-
Slide 28: Domestic Presence – India operations
Domestic Presence – India operations •orniwi%., .,,,,jel Pidilite • 5200+ SKUs of 500 products • 5,283 distributors • Gross Turnover (domestic) of Rs. 5,382 Cr • 27 warehouses for FY18 • 8 regional offices & 2 RDCs • 23 plants, 23 Co-makers Pidilite Industries Limited 13
Slide 29: Global Presence
Global Presence ,o•owilmt%,, Pidilite • Exports to more than 80 countries. Major exports to Middle East, Africa, USA & Europe. • Export Turnover of Rs. 519 Cr in FY18. • 17 Overseas subsidiaries - 5 Direct and 12 Step down. 1 Joint Venture. • Total revenue from Overseas subsidiaries of Rs. 491 Cr in
Slide 30: Marketing / Advertising
Marketing/ Advertising Pidilite • Consistent and effective brand building activities across various categories (a) Consumer Adhesives & Sealants (b) Craftsmen Adhesives (c) Waterproofing Chemicals (d) Hobby & Craft Colours • Several of the brands are well-known in respective categories (Fevicol, Fev
Slide 31: Shareholding Pattern as of March 31, 2018
Shareholding Pattern as of March 31, 2018 .,,,,I,•••••fti%, Pidilite 15.41% ■ Promoters ■ Mutual Funds 10.37% ■ FPIs 4.44% 69.78% ■ Others Pidilite Industries Limited 16
Slide 32: Share Price Movement
Share Price Movement ,o•owilmt%,, Pidilite Pidilite Sensex 145 135 125 115 105 95 85 75 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Rebased to 100 Pidilite Industries Limited 17
Slide 33: Backed by consistent dividend payouts
Backed by consistent dividend payouts .,,,o,•••••fti%, Pidilite 50% 40% 38.4% 34.1% 34.4% 33.1% 33.8% 30% 20% 10% 0% FY14 FY15 FY16 FY17 FY18 Note : The company transitioned into IND AS from 01.04.2015 Pidilite Industries Limited 18
Slide 34: Investor Contacts
Investor Contacts .,,,o,•••••fti%, Pidilite Investor Relations - investor.relations@pidilite.co.in Savithri Parekh, Company Secretary Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Pidilite Andheri (E), Mumbai - 400 059. Phone : +91 22 67697000 CIN : L24100MH1969PLC014336 Fax : +91 22 28216007