Ifb Industries Ltd · NSE:IFBIND
Ifb Industries — Q1 FY2025 Earnings Presentation
57 slides from Ifb Industries's earnings presentation, Aug 2, 2024
Slide 1: Cover letter to stock exchanges: Investors Presentation
I lilll IFll Industries Limited Corporate Office I Pld No.-lND-5, Sector- 1 East Kolkata Township, Kolkata - 700 107 Telephone : (91) (33) 39849475/9524 ZndAugust 2024 Fax: (91) (33) 39849676 Web : www.ifbinduslries com The Manager Department of Corporate Services Bombay Stock Exchange Ltd, Phiroze
Slide 2: IFB Industries Limited Financial Report Quarter Ended 30 June 2024
IFB Industries Limited Financial Report Quarter Ended 30 June, 2024
Slide 3: Performance Report: Growth in EBITDA propelled by margin improvement
Financial Report Quarter Ended 30 June, 2024 QT IFB Performance Report: Growth in EBITDA level propelled by margin improvement Performance Snapshot (& in Crore) Revenue UPAR 1062.85 % 17% EBITDA 86.55 4068 # 113% EBITDA % on revenue 6.95 3.83 EBT 52.40 355 4 = 1376% EBT % on revenue 421 0.33 PAT 38.
Slide 4: Financial Trend for the Q1
Financial Report Quarter Ended 30 June, 2024 QT Financial Trend for the Q1 IFB Total Revenue (% in Crore) Operating Profit/EBITDA (? in Crore) 1244 5 1049 1063 38 41 e = 576 iE -29@——— 8 RY] FY 22 FY25 FY 24 EYi25; FY 21 FY22 FY23 FY 24 FY25 Profit After Tax (PAT) (= in Crore) Free Cashflow (% in Cr
Slide 5: Parameters of Q1 FY
Financial Report ry Quarter Ended 30 June, 2024 Parameters of Q1 FY 25 + Growth/de-growth has been calculated in comparison with the corresponding Quarter/period of the last year. ~Annualised and this data is based on YTD figures. Total Revenue Revenue from Operations EBITDA 21,244 Crore 21,237 Cror
Slide 6: Key Divisional Highlights
Quarter Ended 30 June, 2024 Q1| Financial Report Key Divisional Highlights HAD + Revenue ~1,008 Crore EBITDA 260 Crore To increase revenue, the Division continues to expand its presence in the channel networks across India through better extraction and by increasing dealer billing count. + It is foc
Slide 7: Insignificant debt burden: Possibility of leveraging for future business expansion
Q T Financial Report IFB Quarter Ended 30 June, 2024 Insignificant debt burden: Possibility of leveraging for future business expansion Total borrowing was %47.67 Crore as on Quarter end date, which includes only Term Loan amount. Break-up of Term Loan borrowings, its position as on 31st March ’24,
Slide 8: 'Net Zero' Debt: Real focus on building up Positive Cash Balance
Financial Report ry Quarter Ended 30 June, 2024 ‘Net Zero’ Debt: Real focus on building up Positive Cash Balance Against the aforesaid borrowing as on 30th June ’24, our Cash and Bank Balances (including investments in Mutual Funds) were at $330.30 Crore. Hence the Company’s Net Cash Balance was pos
Slide 9: State of the Art Refrigerator Plant in Pune
Financial Report ry Quarter Ended 30 June, 2024 QT State of the Art Refrigerator Plant in Pune IFB Industries Limited invested %97 Crore in IFB Refrigeration Limited (IFBRL), holding 41.40% of the total equity. The organisation may decide to increase its stake in IFBRL in the future. The Plant has c
Slide 10: Home Appliances Division
Financial Report Quarter Ended 30 June, 2024 Ql Home Appliances Division Ts pe
Slide 11: Business Updates: Home Appliances Division
Financial Report Quarter Ended 30 June, 2024 Business Updates Home Appliances Division The consumer durable industry was either flat or in decline in Q1 FY 25, especially in the Washer category, although Air Conditioners and Refrigerators saw significant growth. We believe that overall demand remain
Slide 12: Business Updates: IFB Points and modular kitchens
Financial Report Quarter Ended 30 June, 2024 QT Business Updates The new design for IFB Points has been expanded to around 181 stores. We are updating all existing stores to this new design, which will be completed by the end of this fiscal year. Currently, there are about 462 IFB Points. We are als
Slide 13: Range of Products: Washer Dryer Refreshers
Financial Report Quarter Ended 30 June, 2024 Range of Products: Home Appliances IFB The updates at the end of 1st Quarter for each of the product categories are given below: Washer Dryer Refreshers (WDR) Leading a Laundry Revolution—Wash, Dry and Refresh in One! For those who are tired of juggling m
Slide 14: Range of Products: Front Load Washers
Financial Report Quarter Ended 30 June, 2024 QT Range of Products: Home Appliances IFB Front Load Washers Consumers are demanding more capacities and they are looking for Washers with: « Larger capacities: To handle the increasing wash loads/wash frequencies of families. + Advanced features: Technol
Slide 15: Front Load Washers
Financial Report ry Quarter Ended 30 June, 2024 QT Front Load Washers Quiet and efficient: The laundry washing experience is exceptional with the Eco Inverter Motor, which reduces noise and saves energy. Deep Clean is all about keeping your clothes looking their best, longer! The focus will be on fa
Slide 16: Range of Products: Top Loading Washer
Financial Report ry Quarter Ended 30 June, 2024 QT Range of Products: Home Appliances Top Loading Washer Consumers are showing a stronger preference for larger—-capacity Washers. This is evident in both Top and Front Load models + Demand for our 9-12 Kg models is increasing and we will continue to e
Slide 17: Range of Products: Clothes Dryers
QT Range of Products: Home Appliances Financial Report ry Quarter Ended 30 June, 2024 Clothes Dryers The Clothes Dryer range has five variants. We plan to upgrade this category with a new range of Vented and Condenser dryers by the end of FY 26, which is currently in the design and product evaluatio
Slide 18: Industrial Segment: Laundry & Dishwashing Equipment
Financial Report ry Quarter Ended 30 June, 2024 Industrial Segment: Laundry & Dishwashing Equipment This business provides a wide range of laundry and dishwashing products supported by professional services. IFB’s nationwide sales and service presence sets it apart in the market. We engage with a di
Slide 19: Industrial Segment: Laundry & Dishwashing Equipment
Financial Report ru Quarter Ended 30 June, 2024 Industrial Segment: Laundry & Dishwashing Equipment A. Laundry: The 15 Kg Washer/15 Kg Dryer/30 Kg Dryer in Q2 FY 25 will be under a new platform configuration. New designs of 30 Kg Washer and Calendar machines will be introduced in Q4 FY 25. We have a
Slide 20: Range of Products: Microwave Ovens
Financial Report ry Quarter Ended 30 June, 2024 Range of Products: Home Appliances Microwave Ovens (MWOs) The Microwave Oven category did not grow in the first Quarter of FY 25. However, IFB continues to be amongst the dominant players in this category, achieving the number 2 position in India durin
Slide 21: Built in Ovens, Dishwashers, Chimneys and Hobs
Financial Report ry Quarter Ended 30 June, 2024 Range of Products: Home Appliances Built in Ovens, Built in Dishwashers, Built in MWO, Chimneys and Hobs We are now focusing on areas such as exclusive staffing, proper model placements and displays, trained Customer Service Representatives at all IFB
Slide 22: Range of Products: Dishwashers
Financial Report ry Quarter Ended 30 June, 2024 Range of Products: Home Appliances Dishwashers (DWs) The domestic Dishwasher segment has experienced a decline in demand compared to previous Quarters. The market has stabilised at around 8K units per month across all brands. Three brands, including IF
Slide 23: Range of Products: Air Conditioners
Financial Report Quarter Ended 30 June, 2024 Ql Range of Products: Home Appliances IFB Air Conditioners (ACs) Our range of Heavy Duty FastCool ACs performed well in Q1 FY 25. We offer both Cold and Hot & Cold models. Current energy norms are in place until 31 December 2025, after which energy levels
Slide 24: Range of Products: Air Conditioners
Financial Report ru Quarter Ended 30 June, 2024 Range of Products: Home Appliances Air Conditioners (ACs) We aim to improve margins in the new fiscal year through a material cost reduction program, targeting a double-digit EBITDA margin. Profitability will be addressed once the new range and cost re
Slide 25: Performance Report: Growth in EBITDA propelled by margin improvement
Financial Report ry Quarter Ended 30 June, 2024 Performance Report: Growth in EBITDA level propelled by margin improvement Performance Overview Performance Snapshot F (= in Crore) + EBITDA has grown by 129% in Q1 FY 25 as against Q1 FY 24. Particulars Ql FY 25 Growth % We need to drive sale of FL &
Slide 26: HAD Quarterly Performance Analysis
Financial Report Quarter Ended 30 June, 2024 QT IFB Focus on improvement in EBITDA level: Quarterly Performance Analysis HAD Financial Performance: Q1 FY 25 (% in Crore) Revenue YOY +18% | QOQ +24% — 1007.91 850.79 814.04 QUFY24; (QUFY25 ‘Q4EY24 Notes: EBITDA | YOY +129% | QOQ +142% 60.23 24.89 26.2
Slide 27: Financial Summary of Home Appliances Division
Financial Report Quarter Ended 30 June, 2024 QT IFB Financial Summary of Home Appliances Division (% in Crore) Particulars 25 QTY Revenue 1,007.91 850.79 EBITDA 60.235 26.29 EBITDA % on Revenue 5.98 3.09 EBT 31.47 -2.81 EBT % on Revenue S32 -0.33 ROCE % 44.73 4.55 + Revenue has grown by 18% in Q1 FY
Slide 28: HAD Quarterly Results: Q1 FY 25 vs Q1 FY 24
Financial Report ru Quarter Ended 30 June, 2024 HAD Quarterly Results: Q1 FY 25 vs Q1 FY 24 (% in Crore) Revenue EBITDA EBT GROWTH YoY | YOY +18% YOY +129% YOY +1221% 1007.91 5147 850.79 Snes : 26.29 -2.81 FY 24 FY 25 FY 24 E¥:25 ENS25 FY 24 Notes: YOY means Year on Year-comparison between current y
Slide 29: Segmental Sales: Home Appliances Division
Financial Report ru Quarter Ended 30 June, 2024 Ql Segmental Sales: Home Appliances Division Q1 FY 25 Product-wise Spread in Home Appliances Division 31.0% 10.6% 15.2% Wm} ac 320.95 31.9% 3.5% | Front Loader} 269.40 26.8% 70 Hl | Service 153.09 15.2% Hl | Top Loader 106.29 10.6% 48% | Microwave 48.1
Slide 30: Steady improvements in inventory holding days: HAD
Financial Report Quarter Ended 30 June, 2024 QT Focussed approach resulting in consistent improvement in Steady improvements in inventory holding days over last 8 Quarters: HAD inventory days Inventory Days (On Sales) Notes: e The gradual reduction in inventory days— Witnessed a sharp fall from the
Slide 31: Engineering Division
IF cial Report Quarter Ended 30 June, 2024 Finan Q1 = = =e 1 ——_ ss = = ie ae ivision gineering
Slide 32: Moderate performance by all business verticals
Financial Report ru Quarter Ended 30 June, 2024 Moderate performance by all business verticals: Needs further improvement- Marketing to be pushed for the same. Performance Snapshot (® in Crore) Performance Overview + Witnessed a revenue growth of 10% this fiscal year with EBITDA growth of 35%; this
Slide 33: Industry outlook on automobile business
Financial Report ry Quarter Ended 30 June, 2024 Industry outlook on the business perspectives of automobile business INDUSTRY OVERVIEW: Q1 FY 25 Four Wheeler Two Wheeler + Passenger Vehicles: Moderate growth + Healthy double digit growth across motorcycles, scooters and mopeds observed YOY with 3%.
Slide 34: Vehicle Sales Volume Growth in India
Financial Report Quarter Ended 30 June, 2024 QT Vehicle Sales Volume Growth in India Two Wheeler Four Wheeler Commercial Vehicles 20.4% 10.7% 96% 3% 16.4% 3.3% Q0Q YOY YOY NOY: QO0Q QoQ (Units in Lakhs) Two Wheeler 49.86 45.04 10.7% 41.41 20.4% Four Wheeler 10.26 11.36 -9.6% 9.96 3.0% Commerical Veh
Slide 35: Engineering Quarterly Performance Analysis
Financial Report ru Quarter Ended 30 June, 2024 Moderate growth in Revenues, with continuous improvement in EBITDA level through margin improvements: Quarterly Performance Analysis | Financial Performance: Q1 FY 25 (% in Crore) Revenue EBITDA EBT YOY +10% | QOQ -8% YOY +35% | QOQ -20% YOY +84% | QOQ
Slide 36: Steady Improvement in ROCE
QT Steady Improvement in ROCE 30 June, 2024 ROCE % 49.7 AAT eee 27. 309. Q2 FY 24 Q3 FY 24 ISEY 1 Financial Report ry Quarter Ended Improvement in ROCE is mainly due to the following reasons: + Optimisation of working capital deployed leading to lowering of capital employed base + Improvement in pro
Slide 37: Leverage at a comfortable level of 0.10X Net Debt/EBITDA
Financial Report ru Quarter Ended 30 June, 2024 QT Leverage at a comfortable level of 0.10X—Net Debt/EBITDA (Std 3x) Leverage Ratio (@ in Crore) (= in Crore) wee Repayment schedule for oh Wb long-term Gross Debt 0.40 120.00 035 Wena 0.30 7.00 7.00 80.00 os > 60.00 020 0.15 4000 0.10 FY 25 FY 26 FY 2
Slide 38: Consistent improvement in inventory days
Financial Report ry Quarter Ended 30 June, 2024 Focussed approach resulting in consistent improvement in inventory days Steady improvements in inventory holding days over last 11 Quarters Inventory Days (On Sales) 51 S24 35 3a eae Lee ORS The gradual reduction in inventory days— Witnessed a sharp fa
Slide 39: Engineering Quarterly Performance by Business Vertical
QT Financial Report ru Quarter Ended 30 June, 2024 Engineering Quarterly Performance (Business Vertical Wise): Fine Blanking Stamping After Market Total Engineering Q1 FY 25 vs Q1 FY 24 (% in Crore) 160.25 144.66 FY 24 FY. 25 FY 24 EY¥i25 FY 24 FY 25 FY 24 EY25 EBITDA Growth YOY (2 in Crore) 26.16 3
Slide 40: Engineering Division Quarterly Results: Q1 FY 25 vs Q1 FY 24
Financial Report ru Quarter Ended 30 June, 2024 Engineering Division Quarterly Results: Q1 FY 25 vs Q1 FY 24 (% in Crore) Revenue EBITDA EBT GROWTH YoY | YOY +10% YOY +35% YOY +84% 196.30 17881 30.27 22.85 22.43 FY24. ss FY25 FY24.—s-FY25 FY24—«-FY25 Notes: YOY means Year on Year—comparison between
Slide 41: Financial Summary of Engineering Division
Financial Report Quarter Ended 30 June, 2024 QT Financial Summary of Engineering Division IFB (% in Crore) Particulars QI FY 25 Ql FY 24 Revenue 196.30 17881 EBITDA 30.27 22.43 EBITDA % on revenue 15.42 12.55 EBT 22.85 12.43 EBT % on revenue 11.64 6.95 ROCE % 49.74 22.79 + Revenue growth in Q1 FY 25
Slide 42: Motors Division: BLDC Project
Financial Report ry Quarter Ended 30 June, 2024 QT MOTORS DIVISION: BLDC Project + The Division has strategically committed to energy conservation by transitioning all appliance motors to energy-efficient BLDC (Brushless DC) Motors. These BLDC Motors are designed to save energy, reduce noise levels
Slide 43: Financial Summary of the Automotive Motors Division
Financial Report Quarter Ended 30 June, 2024 Ql Financial Summary of the Automotive Motors Division IFB (2 in Crore) Revenue 16.55 16.34 EBITDA 0.00 O55) EBITDA % on revenue 0.00 2.02 EBT -0.26 -0.03 EBT % on revenue SES) “OS + During Q1 of FY 25, the Automotive Motors Division's revenue has been fl
Slide 44: Financial Summary of Steel Division
Financial Report ry Quarter Ended 30 June, 2024 Financial Summary of Steel Division (% in Crore) Particulars 25 QT 2 Revenue 45.58 37.68 EBITDA 1.07 -0.28 EBITDA % on revenue 235 -0.74 EBT -0.28 aL?) EBT % on revenue -0.61 ao + During 1st Quarter of FY 25, sales were 6,034 Mt as compared to the budg
Slide 45: GAAL: Global Automotive & Appliances Pte Ltd
QT GAAL Global Automotive & Appliances Pte Ltd Financial Report ru Quarter Ended 30 June, 2024 (% in Crore) Particulars rv 25 QTY 2 Revenue 18.24 17.52 EBITDA 1.64 1.52 EBITDA % on revenue 8.99 8.68 EBT 1.64 1.52 EBT % on revenue 8.99 8.68 IFB Industries Limited, Q1 revenue has been marginal as comp
Slide 46: TAAL: Thai Automotive & Appliances Limited
Ql Financial Report ru Quarter Ended 30 June, 2024 TAAL Thai Automotive & Appliances Limited (% in Crore) Particulars 25 QT 2 Revenue 13.71 13.83 EBITDA 0.62 0.37 EBITDA % on revenue 452 2.68 EBT 0.09 -0.21 EBT % on revenue 0.66 =152 TAAL is engaged in the manufacturing of auto components through th
Slide 47: Note on current status after takeover
f Se Note on current status after takeover
Slide 48: Note on Acquisition of Steel Division
Financial Report ry Quarter Ended 30 June, 2024 Note on Acquisition of Steel Division The Division was amalgamated with IFBIL from 1st April ’22 as per NCLT orders. The Key Challenges of this Business were + The unit was running at poor capacity utilisation and low order booking. + Plant equipment a
Slide 49: Note on Automotive Motors Division Takeover
Financial Report ry Quarter Ended 30 June, 2024 Note on Automotive Motors Division Takeover The Motors Division acquired the Automotive Motors Division from IFB Automotive Pvt Ltd in October 19. The objective was to bring in synergy between the two Divisions which could result in substantial cost sa
Slide 50: Financial Statements: Standalone Income Statement
QT Financial Report ru Quarter Ended 30 June, 2024 FINANCIAL STATEMENTS STANDALONE INCOME STATEMENT For Quarter Ended June (% in Crore) 71,062.85 WERE Total Sale of Products 1,562.20 1,279.85 Crore aan Less: Trade Scheme and Discounts 387.43 280.83 Net Sales 1,174.77 999.02 ae poe Sale of Services 5
Slide 51: Financial Statements: Standalone Balance Sheet
Financial Report Quarter Ended 30 June, 2024 QT FINANCIAL STATEMENTS Standalone Balance Sheet (7 in Crore) fe ASSETS Property, Plant and Equipment* 606.13 621.01 Investment in Subsidiaries 118.60 118.60 Investment in Equity Shares 0.66 0.66 Inventories 465.16 535.98 Investment in Mutual Funds 217.06
Slide 52: Financial Statements: Standalone Key Ratios
Financial Report Quarter Ended 30 June, 2024 QT FINANCIAL STATEMENTS Standalone Key Ratios (% in Crore) Earnings Per Share (in 2) (Not Annualised) 959 0.65 Book Value Per Share (in 2) 188.85 162.64 Current Ratio (#) 1.18 1.09 Quick Ratio (#) 0.77 0.64 EBITDA/Total Income (%) (Annualised) 7.0 38 Net
Slide 53: Financial Statements: Standalone Cashflow Statement
Financial Report Quarter Ended 30 June, 2024 QT FINANCIAL STATEMENTS Standalone Cashflow Statement (% in Crore) CASHFLOWS FROM OPERATING ACTIVITIES Profit Before Tax Non Cash and Other Adjustments Operating Profit Before Working Capital Changes Movement in Working Capital Cash Generated from Operati
Slide 54: Financial Statements: Consolidated Income Statement
Financial Report Quarter Ended 30 June, 2024 QT FINANCIAL STATEMENTS Consolidated Income Statement Quarterly Results —— Total Sale of Products 1,593.47 1,310.09 Less: Trade Scheme and Discounts 387.43 280.83 Net Sales 1,206.04 1,029.26 Sale of Services 35.31 30.81 Other Operating Revenues 2781 25.84
Slide 55: Consolidated Highlights
Financial Report ry Quarter Ended 30 June, 2024 CONSOLIDATED HIGHLIGHTS (% in Crore) er et ose) Total Income 1276.25 1093.69 Earning Before Depreciation, Interest and Tax 86.06 38.27 Earning Before Interest and Tax 56.19 8.05 Profit Before Tax 51.38 0.56 Profit After Tax 37.54 (0.62) Earnings Per Sh
Slide 56: Consolidated Balance Sheet
Financial Report ru Quarter Ended 30 June, 2024 CONSOLIDATED BALANCE SHEET (% in Crore) 30 June, 2024 ASSETS Property, Plant and Equipment* 629.63 645.45 ; Fixed Assets Investment in Equity Shares 68.13 70.86 2629.63 Crore Inventories 468.24 55919 Investment in Mutual Funds 217.06 192.11 Trade Recei
Slide 57: Satisfied Customers; Contact and Disclaimer
SATISFIED CUSTOMERS Microwave Oven Built-in-Oven Dishwasher DC & FF Refrigerators Chimney | BuiltinHob Top Load Front Load 100% Clothes Dryer Air Conditioner Contact Phone +91 33 39849475/9524 + Email investor_relation@ifbglobal.com Disclaimer This presentation contains statements which reflect the