Slide 1: Earnings Presentation cover letter to stock exchanges
8th November, 2023 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, Dalal Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code – 500331 Stock
Slide 2: Q2 FY24 Earnings Presentation
Q2‘ FY 24 Earnings Presentation 1
Slide 3: Our Brands
OUR BRANDS a FEVICOL Fovieryl Araldite B FEVI SEAL NINA Pidilite ; Puma PERCEPT © vipy Fevikwi® seal wi) tek SSF IN | Lt WALL SHA Jowats
Slide 4: Disclaimer
DISCLAIMER 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 the current views being e
Slide 5: Performance Overview
PERFORMANCE OVERVIEW Growth momentum of Q1FY24 continued in Q2FY24 with robust Underlying Volume Growth (UVG) of 8.2%. Growth was broad based with Domestic Consumer & Bazar (“C&B”) delivering UVG of 8.4% (4yr CAGR: 14%) and Domestic Business to Business (‘B2B’) growing with UVG of 20.0% (4yr CAG
Slide 6: Performance Overview
PERFORMANCE OVERVIEW International subsidiaries (excl Pidilite USA Inc.) reported moderate sales growth despite uncertain global economic conditions, inflation and currency devaluation challenges in some countries. EBITDA (excl Pidilite USA Inc.) registered robust growth along with improvement in
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS 6
Slide 8: Earnings Summary Q2 FY24
EARNINGS SUMMARY Q2’ FY24 NET SALES EBITDA* PBT* PAT CONSOLIDATED Rs. 3,065 Cr Rs. 680 Cr Rs. 622 Cr Rs. 459 Cr YOY GROWTH 2.2% 36.0% 41.7% 35.7% STANDALONE Rs. 2,768 Cr Rs. 643 Cr Rs. 609 Cr Rs. 455 Cr YOY GROWTH 2.4% 38.5% 40.8% 35.0% *EBITDA is before non-operating income. PBT is Profit before ta
Slide 9: Earnings Summary H1 FY24
EARNINGS SUMMARY H1’ FY24 NET SALES EBITDA* PBT* PAT CONSOLIDATED Rs. 6,329 Cr Rs. 1,387 Cr Rs. 1,266 Cr Rs. 932 Cr YOY GROWTH 3.9% 34.7% 38.8% 34.1% STANDALONE Rs. 5,720 Cr Rs. 1,314 Cr Rs. 1,239 Cr Rs. 922 Cr YOY GROWTH 4.4% 38.1% 41.5% 37.6% *EBITDA is before non-operating income. PBT is Profit b
Slide 10: Segment Summary - Standalone
SEGMENT SUMMARY - STANDALONE (in INR Crores) Sr. Quarter Ended Half Year Ended PARTICULARS No. Sep'22 Sep'23 Growth (%) Sep'22 Sep'23 Growth (%) 1 Segment Sales a) C&B 2,189 2,269 3.7% 4,381 4,693 7.1% b) B2B 547 531 -2.8% 1,175 1,107 -5.7% c) Others 22 18 -20.0% 48 40 -17.9% Total 2,758 2,818 2.2%
Slide 11: Overseas Subsidiaries Performance Q2 FY24
OVERSEAS SUBSIDIARIES PERFORMANCE Q2’ FY24 (in INR Crores) Asia Sales 76.8 76.8 Americas* Sales -40% 69.1 EBITDA 10% 41.7 14.4 13.1 EBITDA Middle East and Africa Sales 16% EBITDA -0.9 68.9 59.6 6.8 -9.8 2.5 * Includes Pidilite USA Inc - In Q4 FY23, it has been decided to discontinue the operations o
Slide 12: Overseas Subsidiaries Performance H1 FY24
OVERSEAS SUBSIDIARIES PERFORMANCE H1’ FY24 (in INR Crores) Asia Sales -1% 158.0 157.0 Americas* Sales -31% EBITDA -6% 144.7 99.6 29.0 27.4 EBITDA Middle East and Africa 3.7 Sales 12% EBITDA 117.6 131.6 11.3 -12.7 3.3 * Includes Pidilite USA Inc - In Q4 FY23, it has been decided to discontinue the op
Slide 13: Domestic Subsidiaries Performance Q2 FY24
DOMESTIC SUBSIDIARIES PERFORMANCE Q2’ FY24 (in INR Crores) NET SALES EBITDA 200 33% 9% 40 39% 28.8 150 136.3 20.6 20 102.4 100 64.9 70.7 0.9 0 50 -0.6 0 -20 C&B B2B C&B B2B Q2 FY 23 Q2 FY 24 Q2 FY 23 Q2 FY 24 12 EBITDA is before exceptional items. Figures are reported excluding other consolidation i
Slide 14: Domestic Subsidiaries Performance H1 FY24
DOMESTIC SUBSIDIARIES PERFORMANCE H1’ FY24 (in INR Crores) NET SALES EBITDA 300 29% 7% 60 29% 247.4 47.8 250 191.5 40 37.1 200 159.1 148.1 150 100 20 50 5.6 0.5 0 0 C&B B2B C&B B2B H1 FY 23 H1 FY 24 H1 FY 23 H1 FY 24 13 EBITDA is before exceptional items. Figures are reported excluding other consoli
Slide 15: Cash Flow Statement - Standalone
CASH FLOW STATEMENT- STANDALONE (in INR Crores) Sr. No. Particulars FY'23 H1 FY'24 A] Cash Flows from Operating Activities Profit Before Tax 1,668 1,239 Depreciation 222 124 Working Capital Changes (75) 193 Taxes paid (Net of Refunds) (399) (223) Other Non Cash/Non Operating Items 17 (29) Net Cash g
Slide 16: Industry Segment Composition
INDUSTRY SEGMENT COMPOSITION 4.4% 81.1% 7.8% Consumer & Pigment & Industrial Resins, Bazaar products Preparations Construction chemicals (Project) etc. 18.0% Business to Business 0.9% products Others 5.8% 0.9% Industrial Others Adhesives 6.1% Art & Craft Materials etc. 55.7% Adhesives & 19.3% Sealan
Slide 17: 5-Year Performance by Business Segments (Standalone)
5-Year Performance by Business Segments (Standalone) Numbers represent Percentage of Total Sales Consumer and Bazaar (C&B) Business to Business (B2B) B2B includes Others also 82% 81% 81% 22% 80% 80% 80% 20% 20% 20% 80% 20% 19% 19% 78% 18% 76% 16% 74% 14% 72% 12% 70% 10% 2018-19 2019-20 2020-21 2021-
Slide 18: Company at a Glance
COMPANY AT A GLANCE Brand established in Adhesives & sealants, History of creating Among the most trusted brands 1959 construction chemicals, strong brands in the country. Other big brands Pioneer in Consumer & art & craft products & include M-Seal, Fevikwik, Fevistik, Specialty Chemicals polymer em
Slide 19: Domestic Presence
DOMESTIC PRESENCE INDIA OPERATIONS 6,150+ SKUs of 900+ products Domestic Revenue of Rs. 9,713 Cr for FY23 38 plants, 33 Co-makers 5,300+ distributors 48 warehouses 7 regional offices & 4 RDCs 13 domestic subsidiaries (including 1 partnership firm) and 7 associates 18
Slide 20: Creating Value by Creating Categories
Creating Value by Creating Categories • 0 0 CORE GROWTH PIONEER Established Brands Emerging categories Nascent Categories with high market with significant potential with huge market maturity and strong for market growth or creation opportunity share position share gain 1-2X GDP 2-4X GDP... 100 Cror
Slide 21: Marketing & Advertising
MARKETING & ADVERTISING 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, Fevikwik , M-Seal,
Slide 22: Connecting Digitally
CONNECTING DIGITALLY cue Fevikwik @ Fier: _ Fixit & 24th July at 12:00 AM-@ e Protection from leakages on and off the field We're the pros at racing against time ;) #Fevikwik #P henkoNahiJodo #F1 @indian....Se Pitch ko barish se bachane ka best solution! #JustFixit #INDvsPAK Nn of the remarkabl New
Slide 23: Celebrating Occasions - Digital Way
CELEBRATING OCCASSIONS- DIGITAL WAY 22
Slide 24: Share Holding Pattern - 30th September 2023
SHARE HOLDING PATTERN- 30th September 2023 15.13% Promoters Mutual Funds FPIs 11.44% Others 3.57% 69.86% 23
Slide 25: Share Price Movement
SHARE PRICE MOVEMENT 125 120 115 110 105 100 95 90 85 80 Pidilite Sensex Rebased to 100 24
Slide 26: Consistent Dividend Payouts
CONSISTENT DIVIDEND PAYOUTS 50% 44.5% 42.7% 40.6% 39.9% 40% 36.9% 30% 20% 10% 0% FY19 FY20 FY21 FY22 FY23 Note: The Net Profit considered for above calculation is excluding exceptional items 25
Slide 27: Investor Relations
CIN : L24100MH1969PLC014336 Investor Relations Investor.relations@pidilite.co.in Manisha Shetty [Company Secretary] Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Andheri (E), Mumbai - 400 059. Phone : +91 22 28357949 Fax : +91 22 28216007 26