Sirca Paints India Ltd. · NSE:SIRCA
Sirca Paints India — Q1 FY24 Earnings Presentation
35 slides from Sirca Paints India's earnings presentation, Aug 16, 2023
Slide 1: Submission of Investor Presentation (exchange cover letter)
August 16, 2023 To, To, The Managing Director The General Manager National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1 Department of Corporate Services G-Block, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (E), Mumbai – 400051 Dalal Street, Mumbai -
Slide 2: Q1FY24 Earnings Presentation
NSE: SIRCA | BSE: 543686 | Bloomberg: SIRCA:IN CIN: L24219DL2006PLC145092 Q1FY24 Earnings Presentation A U G U S T 2 0 2 3
Slide 3: Inside
INSIDE Introduction 04 Sirca at a Glance 05 Sirca’s Value Proposition 06 Brand Portfolio 08 Sirca’s Footprint & Distribution 09 Customer Segments 10 Manufacturing Facilities 11 Marketing & Promotional Activity Industry 13 Contractor Loyalty Program 15 Indian Paints Industry 16 Wood Coatings & Finish
Slide 4: Company Profile
Company Profile
Slide 5: Introduction
EARNINGS PRESENTATION COMPANY PROFILE INTRODUCTION About Sirca Paints India Limited About Sirca S.P.A (Italy) • Sirca Paints India Limited (SPIL) is among the country’s leading manufacturers of wood coating Founded in the 1973, Sirca is an integral part of the Durante Group. It is among the products
Slide 6: SPIL at a Glance
EARNINGS PRESENTATION COMPANY PROFILE SPIL AT A GLANCE EXCLUSIVE LICENSEE MARKET LEADER OEM VENDOR Of Globally Established ‘Sirca’ Among the Top 3 Premium Preferred OEM Vendor on its way to brand for India, Nepal, Bangladesh wood coatings brand in India become a Dominating Retail Brand and Sri Lanka
Slide 7: Value Proposition
EARNINGS PRESENTATION COMPANY PROFILE VALUE PROPOSITION The promise and quality of ‘Made in Italy’ CORE OFFERING : blended with innovation, research and development to provide the most Premium Italian Wood Coatings Metal Coatings Glass Coatings sophisticated and customized products and services in t
Slide 8: Value Proposition: Portfolio Expansion
EARNINGS PRESENTATION COMPANY PROFILE VALUE PROPOSITION Portfolio Expansion Recent Additions Wall Paints Range Wood Coatings Wall Paints & others MASS MARKET RANGE • OIKOS Portfolio (Decorative, Solid Colour Finishes, • Nitrocellulose (NC), Melamine, and Texture Coatings) PU Coatings and Thinners •
Slide 9: Brand Portfolio
EARNINGS PRESENTATION COMPANY PROFILE BRAND PORTFOLIO Sirca INDIAN SUBCONTINENT* • Luxury Italian Wood Coatings • High-end Wall Paints Unico • Mass-market Wood 08 Coatings products OIKOS INDIA • High-end Decorative, Solid Colour Finishes and Texture Coatings DuranteVivan • Adhesives Product Portfoli
Slide 10: Sirca's Footprint
EARNINGS PRESENTATION COMPANY PROFILE SIRCA’S FOOTPRINT 1,953 12 MOHALI JAGADHARI AMBALA Dealers & Branches Distributors & Depots KARNAL NOIDA RAI & SONIPAT DEHRADUN 27 02 NEPAL DELHI SILLIGURI GURUGRAM GUWAHATI Sirca Studios Manufacturing 09 INDORE BANGLADESH KOLKATA Facilities NAGPUR MUMBAI Key RA
Slide 11: Customer Segments
EARNINGS PRESENTATION COMPANY PROFILE CUSTOMER SEGMENTS CUSTOMER SEGMENTS ~70% ~30% 10 Revenue Contribution Revenue Contribution 1,953 APPROACH • Dealing in Premium products. Aggressively growing Distribution • Providing strong technical support and after sales Network with 1,953* nodes services to
Slide 12: Manufacturing Facilities
EARNINGS PRESENTATION COMPANY PROFILE MANUFACTURING FACILITIES COMMISSIONED COMISSIONED WALL PAINT & WALL PRODUCTION CAPACITY In Nov’2019, Sirca commissioned a manufacturing facility for PUTTY MANUFACTURING This Company has a production capacity of: Nitrocellulose, Melamine, Economical PU products,
Slide 13: Marketing and Promotional Activities
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES INCREASE EXPENDITURE ON IMPLEMENTED 360° MARKETING ADVERTISEMENTS CAMPAIGN Radio commercials & tv To achieve a greater brand-recall for ‘Sirca’, The company has implemented a 360° commercials in regional the company is increa
Slide 14: Marketing and Promotional Activities: Sirca Studios
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES Sirca studios for a class-apart consumer experience 13 sircapaints.com
Slide 15: Marketing and Promotional Activities
EARNINGS PRESENTATION COMPANY PROFILE MARKETING AND PROMOTIONAL ACTIVITIES ~1,319 shop board installed for enhanced visibility. Refreshed brand positioning as “Your Italian Autograph”. 14 sircapaints.com
Slide 16: Contractor Loyalty Program
EARNINGS PRESENTATION COMPANY PROFILE CONTRACTOR LOYALTY PROGRAM Sirca Parivaar 2.0 – App Update Enhanced Version of Sirca Parivaar App ~12,650 ~5,750 5,000+ The main objective of this app is to automate the process of loyalty program and streamline the Contractors Average Daily Application process
Slide 17: India Paint Industry
EARNINGS PRESENTATION COMPANY PROFILE INDIA PAINT INDUSTRY 62,000 PAINT INDUSTRY CRORE MARKET IS BROADLY DIVIDED INTO 3/4th 1/4th The Indian Paints industry is estimated to be a 62,000 Crore market annually Decorative Paints Industrial Paints & Decorative Paints constitute almost 3/4th of the market
Slide 18: Wood Coatings & Finishes Segments
EARNINGS PRESENTATION COMPANY PROFILE WOOD COATINGS & FINISHES SEGMENTS Overview Market Trends • Wood coatings are used for their • The wood coatings product category is facing a shift in consumer adhesion, anti-corrosion, durability, preferences from toxic and environmentally harmful products to ap
Slide 19: Board of Directors
EARNINGS PRESENTATION COMPANY PROFILE BOARD OF DIRECTORS Mr. Sanjay Agarwal Mr. Apoorv Agarwal Mr. Gurjit Singh Bains Mr. Ugo Pelosin CHAIRMAN AND MANAGING JOINT MANAGING NON-EXECUTIVE NON-EXECUTIVE DIRECTOR DIRECTOR DIRECTOR DIRECTOR 18 Mr. Agarwal is one of the co-founders of Sirca Mr. Agarwal has
Slide 20: Board of Directors
EARNINGS PRESENTATION COMPANY PROFILE BOARD OF DIRECTORS Mr. Shyam Lal Goyal Mr. Anil Kumar Mrs. Anu Chauhan Mr. Sanjay Kapoor NON-EXECUTIVE & Mehrotra NON-EXECUTIVE & NON-EXECUTIVE & INDEPENDENT DIRECTOR NON-EXECUTIVE & INDEPENDENT DIRECTOR INDEPENDENT DIRECTOR 19 INDEPENDENT DIRECTOR Mr. Goyal was
Slide 21: 5Y Financial Summary
5Y Financial Summary
Slide 22: 5Y Profit & Loss Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y PROFIT & LOSS SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Revenue from Operations 267.75 200.02 143.18 135.05 125.34 Total Income 272.59 204.43 157.32 140.66 131.46 Total Operating Expenses 206.03 162.27 121.37 103.26 93.81 EBITDA (Excludi
Slide 23: 5Y Balance Sheet Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y BALANCE SHEET SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Shareholders Fund 265.53 225.15 201.60 184.65 167.84 Non Current Liabilities 0.59 0.05 0.28 0.18 0.48 Current Liabilities 45.92 37.16 52.88 24.98 22.45 - Trade Payables 36.55 31.40
Slide 24: 5Y Cash Flow Summary
EARNINGS PRESENTATION 5Y FINANCIAL SUMMARY 5Y CASH FLOW SUMMARY (₹ in crores) PARTICULARS FY23 FY22 FY21 FY20 FY19 Cash from Operating Activities -18.69 35.16 19.24 -7.56 12.34 Cash from Investing Activities 9.38 -11.06 14.74 4.81 -71.28 Cash from Financing Activities -5.52 -17.38 -0.10 -8.45 68.36
Slide 25: Q1FY24 Result Discussion
Q1FY24 Result Discussion
Slide 26: Profit & Loss Summary
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION PROFIT & LOSS SUMMARY Standalone (₹ in crores) PARTICULARS Q1FY24 Q4FY23 Q1FY23 YoY % QoQ % 19% Q1FY24 Revenue from Operations Revenue from Operations 72.99 68.27 61.35 19.0% 6.9% at 72.99 Crores compared to 61.35 Crores in Q1FY23 Total Income 74.43 69.
Slide 27: Management Commentary
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION MANAGEMENT COMMENTARY 26 Q1FY24 Result Discussion • Sirca Paints has started FY24 on a robust note. The Company has reported • On the profitability front, the Company reported healthy EBITDA margins its highest-ever Revenue from Operations in a quarter
Slide 28: Management Commentary (Cont.)
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION MANAGEMENT COMMENTARY (Cont.) Strategic Updates 27 • Manufacturing operations for Unico have been ramping up at the Sonipat Business Update facility. Apart from Unico’s PU products, we have also stabilized its resins manufacturing, and our resins consum
Slide 29: Recent Product Launches
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION RECENT PRODUCT LAUNCHES Recent Product Launches • Acrylic Distemper • Acrylic Wall Putty • Metallic Emulsion • Floor Coat Emulsion • Cement Paint • Red oxide Primer • Universal Stainer 28 sircapaints.com
Slide 30: Latest Display Units Revamp
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION LATEST DISPLAY UNITS REVAMP 29 sircapaints.com
Slide 31: Latest Contractor Meets
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION LATEST CONTRACTOR MEETS Contractors Goa Trip for Silver Club Achievers Jim Corbett trip for premium club achievers 30 sircapaints.com
Slide 32: Latest TV Commercial Campaign
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION LATEST TV COMMERCIAL CAMPAIGN 31 sircapaints.com L in k to Vid e o
Slide 33: Recent Branding & Promotional Activities
EARNINGS PRESENTATION Q1FY24 RESULT DISCUSSION RECENT BRANDING & PROMOTIONAL ACTIVITIES 32 sircapaints.com
Slide 34: Get in Touch
EARNINGS PRESENTATION GET IN TOUCH Suraj Singh Sayam Pokharna 33 COMPANY SECRETARY AND COMPLIANCE OFFICER Sirca Paints India Limited TIL Advisors Private Limited cs@sircapaints.com sayam@theinvestmentlab.in +91 94266 60791 sircapaints.com
Slide 35: Disclaimer
EARNINGS PRESENTATION DISCLAIMER No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events n