Tilaknagar Industries Limited · NSE:TI

Tilaknagar Industries — Q1 FY24 Earnings Presentation

27 slides from Tilaknagar Industries's earnings presentation, Aug 8, 2023

  1. Slide 1: Exchange filing cover letter for earnings presentation

    August 08, 2023 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalai Street, Bandra-Kurla Complex, Bandra (East), Mumbai 400001 Mumbai-400 051. Scrip Code : 507205 Symbol : TI Sub: Earnings Presentation for Unaudited Financial Re

  2. Slide 2: Earnings Presentation – Q1FY24

    Tilaknagar Industries Limited Earnings Presentation – Q1FY24 Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.

  3. Slide 3: Disclaimer

    Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic

  4. Slide 4: Q1FY24 Performance

    Q1FY24 PERFORMANCE Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.

  5. Slide 5: Management commentary

    Management commentary Mr. Amit Dahanukar, Chairman & Managing Director “ Our resolute dedication to innovation, expansion, and prudent financial strategies underscores our unwavering priority: the well-being of our stakeholders “ ❖ In Q1 FY24, our company has again significantly outgrown the overall

  6. Slide 6: Key highlights

    Key highlights Total Volumes (lacs cases) NSR (₹ per case) Quarter Full Year Quarter Full Year +43% +8% +5% 96.4 1,249 1,136 1,197 1,157 +42% 67.3 25.1 17.7 Q1FY23 Q1FY24 FY22 FY23 Q1FY23 Q1FY24 FY22 FY23 Revenue (₹ crs) EBITDA (₹ crs) & EBITDA Margin (%) Quarter Full Year Quarter Full Year 9% 13% 1

  7. Slide 7: Consistent growth in volumes

    Consistent growth in volumes …owing to seasonality, Q1 volume saliency is usually between 19-21% of yearly volumes Quarterly volumes (lacs cases) 42% volume growth in Q1 FY24 on YoY basis 86% volume growth vs. Q1 FY20 (pre-Covid) 28.4 26.0 25.1 24.3 18.9 18.7 19.5 18.1 18.5 18.1 17.6 17.2 17.7 16.3

  8. Slide 8: Debt reduction journey…

    Debt reduction journey… …operating cash flows helping in funding debt repayments as well as working capital requirements Debt Journey (₹ Crs)(a)(b) Debt as of 30-Jun-23(a)(b) 37 1,199 26 543 176 492 449 380 361 349 323 299 250 269 239 186 182 136 EARC Term Loan Vendor Financing Trade Deposits Mar-19

  9. Slide 9: Debt refinancing in final stages to completely prepay EARC debt

    Debt refinancing in final stages to completely prepay EARC debt ❖ We are in the final stages of refinancing our debt with Edelweiss ARC (“EARC”) ❖ EARC debt balance of Rs. 176 crs as of 30 June 2023 ❖ Refinancing will be done through a loan facility taken from one of India’s largest private sector b

  10. Slide 10: Quarterly Income Statement

    Quarterly Income Statement Particulars (₹ Crs) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue from Operations (Gross) 640.0 480.5 33.2% 717.2 -10.8% Excise Duty 335.9 251.0 33.8% 359.8 -6.6% Revenue from Operations (Net) 304.1 229.5 32.5% 357.4 -14.9% Cost of Material Consumed 150.2 121.4 23.7% 189.7 -

  11. Slide 11: Introducing “A Warm Welcome”

    Introducing “A Warm Welcome” …our new proposition for Mansion House Brandy Tilaknagar Industries Ltd. 10

  12. Slide 12: Disruptive renovation of Blue Lagoon Gin

    Disruptive renovation of Blue Lagoon Gin Tilaknagar Industries Ltd. 11

  13. Slide 13: Accolades & Recognition for MHB

    Accolades & Recognition for MHB India’s Largest Selling World’s 2nd Fastest Growing Brandy Brand Brandy and World’s 2nd Spirits Brand Champion 2023 Largest Selling Brandy Tilaknagar Industries Ltd. 12

  14. Slide 14: Two millionaire brands in the portfolio

    Two millionaire brands in the portfolio MANSION HOUSE COURRIER NAPOLEON India’s largest Our second selling brandy Millionaire brand COURRIER NAPOLEON – OUR 2nd MILLIONAIRE BRAND Achieved millionaire status in FY23 (1.2 mn cases sold in FY23; 50% growth over FY22) Drink responsibly: The consumption o

  15. Slide 15: Company & Industry Overview

    COMPANY & INDUSTRY OVERVIEW Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.

  16. Slide 16: About the Company

    About the Company Largest brandy manufacturer in India with presence across all segments of IMFL 1933 20 15+ 93% 9.64mn 86% 90 years since Manufacturing units incorporation & 50+ across 12 states Brands across Share of sales to years of experience in Owned: 4 units products Share of Brandy as % Volu

  17. Slide 17: Our journey

    Our journey The turnaround well and truly coming to fruition 1933-2007 2008-2014 2014-2017 2018 onwards o Founded in 1933 as o Acquired subsidiaries Vahni o Expansion project at Prag stalled o Restructuring of debt completed Maharashtra Sugar Mills Ltd. Distilleries (Karnataka), Prag with EARC and o

  18. Slide 18: Brand portfolio

    Brand portfolio India’s first premium Super-Premium Mansion House Reserve Courrier Napoleon Brandy flavoured brandy ₹ 1,000 & Above Brandy Green Mansion House Flandy Premium / Semi- New Launch Premium #1 Premium Brandy in India Mansion House Gold Blue Lagoon ₹ 700-1,000 Mansion House Brandy Whisky G

  19. Slide 19: Senior management

    Senior management Amit Abhinav Ameya Tarun Dahanukar Gupta Deshpande Behl Chairman & CFO President – Strategy & Corp Dev Vice President – Works Managing Director Previously CFO with Trident Limited Previously Investment Banker with 22+ yrs of alcobev experience Deutsche Bank and BNP Paribas & Co- In

  20. Slide 20: Full Year Financials

    FULL YEAR FINANCIALS Drink responsibly: The consumption of alcoholic beverages should always be approached responsibly and with awareness.

  21. Slide 21: Improving business fundamentals

    Improving business fundamentals Premiumisation strategy to enhance margins and cash flows Total Volumes Sold (mn cases) Brandy Sales (mn cases) Share of Brandy to total volumes sold 84% 89% 91% 92% 94% 93% 9.64 8.98 6.64 6.44 6.73 5.92 6.33 5.92 5.86 5.45 4.98 5.03 FY18 FY19 FY20 FY21 FY22 FY23 FY18

  22. Slide 22: Focus on margins and cashflows

    Focus on margins and cashflows EBITDA (₹ Crs) and Finance Cost (₹ Crs) and Net Revenues (₹ Crs) EBITDA Margin (%) as % of Net Revenues 1,164 137 112 184 783 152 661 653 56 54 14% 28% 12% 26% 129 578 10% 20% 549 8% 13% 8% 3 71 62 3% 40 0% -8% FY18 FY19 FY20 FY21 FY22 FY23 -52 FY18 FY19 FY20 FY21 FY22

  23. Slide 23: Income Statement

    Income Statement Particulars (₹ Crs) Mar-23 Mar-22 Mar-21 Revenue from Operations (Gross) 2,469.3 1,792.1 1,418.4 Excise Duty 1,304.9 1,008.7 869.6 Revenue from Operations (Net) 1,164.4 783.4 548.8 Cost of Material Consumed 633.3 378.0 291.3 Change in Inventories of Finished goods & Work in Progress

  24. Slide 24: Balance Sheet

    Balance Sheet Particulars (₹ Crs) Mar-23 Mar-22 Mar-21 ASSETS Non ‐ Current Assets Property, plant and equipment 417.5 438.8 467.8 Capital work‐in‐progress 0.1 100.2 100.1 Right of use assets 2.2 0.2 0.4 Intangible assets 0.3 0.3 0.4 Financial Assets (i) Investments 0.5 0.0 0.0 (ii) Loans 0.1 (iii)

  25. Slide 25: Balance Sheet

    Balance Sheet Particulars (₹ Crs) Mar-23 Mar-22 Mar-21 Equity (a) Equity share capital 185.3 158.6 125.4 (b) Other equity 297.6 -25.1 -181.2 Total Equity 482.9 133.5 -55.7 Liabilities Non ‐ Current Liabilities Financial liabilities (i) Borrowings 24 381 459 (ii) Lease liabilities 2.1 0.1 0.1 (iii) O

  26. Slide 26: Cash Flow Statement

    Cash Flow Statement Particulars (₹ Crs) Mar-23 Mar-22 Mar-21 Cash Flow from Operating Activities Profit before Tax 149.9 41.2 -38.6 Adjustment for Non-Operating Items 4.7 -86.9 -106.9 Operating Profit before Working Capital Changes 145.2 128.1 68.3 Changes in Working Capital -72.8 -67.6 14.3 Cash Ge

  27. Slide 27: Thank You

    For further information, please contact: Company : Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) Ameya Deshpande President – Strategy & Corporate Development Email: adeshpande@tilind.com Investor Relations Advisors : Orient Capital (a division of Link Group) Mr. Nikunj Jain Mr. Amar Yardi +91 9

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