Indigo Paints Ltd · NSE:INDIGOPNTS
Indigo Paints — Q3 FY2024 Earnings Presentation
25 slides from Indigo Paints's earnings presentation, January 2024
Slide 1: INDIGO Paints Ltd Investor Presentation (Q3FY24)
INDIGO Paints Ltd Investor Presentation (Q3FY 24) 1
Slide 2: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of Indigo Paints Ltd (“Indigo”) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be
Slide 3: Agenda for discussion
Agenda for discussion Corporate Update Standalone Financials (Q3/9M FY24) Consolidated Financials (Q3/9M FY24) KPI - Distribution Network 3
Slide 4: Agenda for discussion
Agenda for discussion Corporate Update 4
Slide 5: Corporate Update
Corporate Update • The Company had clocked an yet another quarter of industry leading growth. With the 25.78% growth rate recorded in Q3FY24, Indigo Paints has grown by over 3x-4x times the industry growth rate, indicating market share gain by the Company • Indigo Paints has posted a robust all roun
Slide 6: Indigo Leakproof Emulsion
Indigo Leakproof Emulsion It makes the roof truly waterproof. {7} INDIGO surprised! ay
Slide 7: Agenda for discussion: Standalone Financials
Agenda for discussion Standalone Financials (Q3/9M FY24) 7
Slide 8: Q3 & 9M FY24 financials (Standalone)
Indigo Paints | Q3 & 9M FY 24 financials (Standalone) Statement of unaudited financial results for the quarter and nine months ended December 31, 2023 (All amounts in rupees lakhs, unless otherwise stated) Quarter ended Nine months ended Year ended Sr. No Particulars Dec 31, 2023 Sep 30, 2023 Dec 31
Slide 9: Q3 FY24 financial Analysis
Indigo Paints | Q3 FY 24 financial Analysis Quarterly Financial Highlight (Standalone) RS. Cr Quarterly % Change Particulars Q3 Q2 Q3 (Rs. Crs) FY 24 FY 24 FY 23 Operational Income 341.25 270.46 281.27 21.33% Other Income 2.89 2.97 3.78 Total 344.13 273.43 285.04 Gross Profit 165.27 123.64 123.26 Gr
Slide 10: Analysis | Q3 FY24 (Standalone)
Analysis | Q3 FY24 (Standalone) • Q3 FY 24 Operational Income has expanded by 21.33% over Q3 FY 23 from Rs. 281.27 Cr to Rs.341.25 Cr • Gross Margins expanded to 48.43% in Q3 FY24 over 43.82% in Q3 FY23 • EBITDA increased significantly by 50.18% to Rs. 60.91 Cr compared to Rs. 40.56 Cr in Q3 FY23, w
Slide 11: Analysis | Q3 FY24 (Standalone)
Analysis | Q3 FY24 (Standalone) • Growth in Net revenue for the quarter was significantly higher than the industry, indicating market share gain by the Company. • Continue to maintain the pole position in terms of Gross margin at 48.43%, aided by a favourable product mix • The A&P expense increased
Slide 12: 9M FY24 financial Analysis (Standalone)
Indigo Paints | 9M FY 24 financial Analysis (Standalone) (m Yearly Financial Highlight (Standalone) RS. Cr 9M FY 24 % Change Particulars 9M 9M (Rs. Crs) FY 24 FY 23 Operational Income 888.72 747.86 18.83% Other Income 9.38 7.25 Total 898.11 755.12 Gross Profit 420.70 325.70 Gross Margin % 47.34% 43.
Slide 13: Analysis | 9M FY24 (Standalone)
Analysis | 9M FY24 (Standalone) • 9M FY 24 Operational Income increased by 18.83% over 9M FY 23; from Rs. 747.86 Cr to Rs.888.72 Cr • Gross Margins expanded to 47.34% in 9M FY24 over 43.55% in 9M FY23 • EBITDA increased by a healthy 36.99% to Rs. 150.42 Cr compared to Rs. 109.80 Cr in 9M FY23, while
Slide 14: Analysis | 9M FY24 (Standalone)
Analysis | 9M FY24 (Standalone) • Growth in Net revenue for the 9 months ending Dec’ 23 was 3x-4x of that of the industry growth rate. • Gross margin continues to be the highest in the industry at 47.34%. • The A&P cost is higher by 12.64% compared to the 9M FY23 but A&P is declining as a % of reven
Slide 15: Agenda for discussion: Consolidated Financials
Agenda for discussion Consolidated Financials (Q3/9M FY24) 15
Slide 16: Q3 & 9M FY24 financials (Consolidated)
Indigo Paints | Q3 & 9M FY 24 financials (Consolidated) Statement of unaudited financial results for the quarter and nine months ended December 31, 2023 (All amounts in rupees lakhs, unless otherwise stated) Consolidated Quarter ended Nine months ended Year ended Sr. No Particulars Dec 31, 2023 Sep
Slide 17: Q3 FY24 financial Analysis (Consolidated)
Indigo Paints | Q3 FY 24 financial Analysis (Consolidated) Quarterly Financial Highlight (Consolidated) RS. Cr Quarterly % Change Particulars Q3 Q2 Q3 (Rs. Crs) FY 24 FY 24 FY 23 Operational Income 353.77 279.02 281.27 25.78% Other Income 3.07 3.17 3.78 Total 356.83 282.19 285.04 Gross Profit 170.45
Slide 18: Analysis | Q3 FY24 (Consolidated)
Analysis | Q3 FY24 (Consolidated) • Sales growth was 25.78% on y-o-y basis. • Gross Margin expanded to 48.18% from 43.82% in Q3 FY23 • EBITDA increased by 53.46% to Rs. 62.24 Cr compared to Rs. 40.56 Cr in Q3 FY23, while the EBITDA margin expanded to 17.59% from 14.42% in Q3 FY23 • PAT increased by
Slide 19: 9M FY24 financial Analysis (Consolidated)
Indigo Paints | 9M FY 24 financial Analysis (Consolidated) 9M FY24 Financial Highlight (Consolidated) RS. Cr 9M FY24 % Change Particulars 9M 9M (Rs. Crs) FY 24 FY 23 Operational Income 921.21 747.86 23.18% Other Income 10.06 7.25 Total 931.26 755.12 Gross Profit 434.09 325.70 Gross Margin % 47.12% 4
Slide 20: Analysis | 9M FY24 (Consolidated)
Analysis | 9M FY24 (Consolidated) • 9M FY 24 Operational Income increased by 23.18% over 9M FY 23; • Gross Margins expanded to 47.12% in 9M FY24 over 43.55% in 9M FY23 • EBITDA increased by 39.77% to Rs. 153.48 Cr compared to Rs. 109.80 Cr in 9M FY23, while the EBITDA margin expanded to 16.66% from
Slide 21: KPI – Product Mix, Distribution Network
Agenda for discussion KPI – Product Mix, Distribution Network 21
Slide 22: Value / Volume Growth (Q3 FY24 vs Q3 FY23)
Value / Volume Growth (Q3 FY 24 vs Q3 FY 23) Value Volume Product Category Growth Growth Cement Paints + Putty 25.2% 24.2% Emulsions 18.2% 14.3% Enamels + Wood Coatings 25.2% 27.3% Primers + Distempers + Others 34.7% 37.7% 22
Slide 23: Network expansion
Network expansion 31.12.21 31.03.22 30.06.22 30.09.22 31.12.22 31.03.23 30.06.23 30.09.23 31.12.23 No. of Depots 45 47 47 47 47 47 49 51 53 Active Dealers 15,242 15,787 16,526 16,758 16,785 16,496 16,693 17,148 17,745 Tinting m/c 6,749 7,101 7,435 7,716 7,978 8,273 8,657 9,114 9,510 • Added two more
Slide 24: Future guidance
Future guidance • The team handling Water proofing & construction chemicals is already active in select depots and the segment has started getting good sales traction in January’24 and we expect the trend to continue in the following quarters. • On B2B front, during the past three quarters, Apple Ch
Slide 25: Thank You
Thank You INDIGO