Jyothy Labs Limited · NSE:JYOTHYLAB
Jyothy Labs — Q3 FY2023 Earnings Presentation
29 slides from Jyothy Labs's earnings presentation, Jan 25, 2023
Slide 1: Cover letter to stock exchanges
To, January 25, 2023 National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Scrip Code: JYOTHYLAB Mumbai - 400051 BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Scrip Code: 532926 Mumbai - 400 023 Dear Sir, Sub: Copy of Presentation With reference to the
Slide 2: Slide 2
Slide 3: Presentation Q3FY23
PRESENTATION Q3FY23 January 25, 2023 2
Slide 4: Content Flow
Content Flow 01. Overview 03. Our Performance Journey 05. Brand Performance & Initiatives 02. Market Scenario 04. Result Highlights 06. Way forward 3
Slide 5: Overview
OVERVIEW • Founded in 1983 by a first generation entrepreneur, our ‘Chairman Emeritus’ Mr. MP Ramachandran. ~Rs 2,196 cr Revenue in FY 2022 • Jyothy Labs is primarily in Home Care and Personal Care 2.8 Mn Outlets – Pan India availability segments which constitute 50% of the Indian FMCG industry. 1 m
Slide 6: Market Scenario
MARKET SCENARIO • Business Environment : • Dual headwinds of elevated input price inflation and slow down in volume growth • Focus on Lower Unit Packs (‘LUP’) continue to gain acceptance and are selling strong in the rural markets • Focus on top line growth with balancing margins • Stable Growth acr
Slide 7: Our Strategic Levers - Delivers Robust Performance Across Categories
OUR STRATEGIC LEVERS- DELIVERS ROBUST PERFORMANCE ACROSS CATEGORIES Growth (%) Q3FY23 26.0% 10.0% -15.6% 11.6% Q3FY23 22.4% 10.2% -3.7% 5.8% (2Y CAGR) Q3FY23 15.3% 13.8% 0.7% 18.3% (3Y CAGR) YTDFY23 32.5% 8.3% -29.2% 7.9% 6 6
Slide 8: Moderation in Rising Input Prices
Moderation in Rising Input Prices… % Increase % Increase Key Products Unit Currency Mar-20 Mar-21 Mar-22 Oct-22 Jan-23 (Jan’23 vs (Jan’23 vs Mar’22) Mar’21) Tonne $ 1195 1580 1743 1800 1681 -4% 6% Linear Alkyl Benzene ** Soda Ash Kg. ₹ 23 24 35 39 39 11% 63% Caustic Soda LYE * Tonne $ 331 340.8 850
Slide 9: Result Highlights – Q3FY23 Snapshot (Consolidated)
RESULT HIGHLIGHTS – Q3FY23 SNAPSHOT (CONSOLIDATED) Revenue at Rs 613 Crores increase by 13.7%. (Ex-HI 16.7%). Gross Margin at Rs 264 Crores (43.1% of Net Sales) versus Rs 224.5 Crores (41.6% of Net sales) in the same period last year, an increase by 17.6% A&P Spend at Rs 41.8 Crores (6.8% of Net Sal
Slide 10: Result Highlights – YTDFY23 Snapshot (Consolidated)
RESULT HIGHLIGHTS – YTDFY23 SNAPSHOT (CONSOLIDATED) Revenue at Rs 1,869 Crores increase by 13.3% (Ex-HI 18.7%) Gross Margin at Rs 769.1 Crores (41.1% of Net Sales) versus Rs 687 Crores (41.6% of Net Sales) in the same period last year, an increase by 12% A&P Spend at Rs 128.4 Crores (6.9% of Net Sal
Slide 11: Category Wise Net Revenue
CATEGORY WISE NET REVENUE Q3FY23 YTDFY23 Q3 FY23 Revenue Growth CY PY GR% CY PY GR% 14% Ujala FW, Henko, 2 Yr CAGR Fabric Care Mr White, Ujala 264 209 26.0% 801 605 32.5% Crisp & Shine 14% 13.7% Dishwashing Exo & Pril 221 201 10.0% 658 608 8.3% 13% 13.3% Household 13.1% JLL Maxo 44 52 -15.6% 132 186
Slide 12: Snapshot of Company's Performance (Consolidated)
SNAPSHOT OF COMPANY’S PERFORMANCE (CONSOLIDATED) QUARTER ENDED NINE MONTHS ENDED PARTICULAR/GROWTH CY PY % CHANGE CY PY % CHANGE REVENUE FROM OPERATION 613 539 13.7% 1,869 1,650 13.3% OPERATING EBITDA 84.4 61.2 37.9% 224.6 191.0 17.6% PAT 67.4 38.0 77.2% 180.5 122.2 47.7% Financial Parameters NINE M
Slide 13: EBITDA Movement (Consolidated)
EBITDA MOVEMENT (CONSOLIDATED) PARTICULARS Q3FY23 YTDFY23 EBITDA % - PREVIOUS PERIOD 11.3% 11.6% GROSS MARGIN 1.5% -0.5% EMPLOYEE COST 0.6% 0.6% ADVERTISEMENT & SALES PROMOTION 0.3% 0.5% OTHER EXPENDITURE 0.0% -0.2% EBITDA % - CURRENT PERIOD 13.8% 12.0% 12
Slide 14: Brand Performance & Initiatives
BRAND PERFORMANCE & INITIATIVES
Slide 15: Category Wise Business Share
Fabric Care (Main wash) 31% Q3 FY23 Category Wise Fabric Care (Post wash) 12% Business Share Dishwashing 36% HI Other 7% 4% Personal Care 10% 14
Slide 16: Our brands continue to delight our consumers with superior value
Q3 FY23 Our brands continue to delight our consumers with its superior value offering and availability. Consistent double digit revenue growth inspite of high commodity inflation which has impacted the consumption across categories 15
Slide 17: Category highlights in Q3 FY23
Category highlights in Q3 FY23 Fabric care Dish Wash Household Personal Care Insecticide • Strong performance in Fabric Care • Lead brands ‘Ujala & Henko’ continued to register strong growth • Foray into liquid detergents and geography extension of Ujala C&S gaining momentum • Mid priced detergent b
Slide 18: Fabric care (post wash)
Fabric care (post wash) Performance: Market share Brand witnessed double-digit growth MQ22 JQ22 SQ22 DQ22 across all formats. 84.1% 84.1% 83.7% 83.6% Source – NielsenIQ Key initiatives: Continued ATL support – TVC featuring superstar Ms. Taapsee Ujala Pannu Continued campaign promotions on social me
Slide 19: Fabric care (post wash)
Fabric care (post wash) Performance: Ujala Crisp & Shine continued its strong performance. New geography extension has shown good results Key initiatives: Ujala TV commercial featuring superstar Ms. Nayanthara promoted in TV, OTT and digital medium. Crisp & Continued promotions on social media to ed
Slide 20: Fabric care (main wash)
Fabric care (main wash) Performance: Ujala Detergent powder continued to register strong performance and Market share (Detergent maintain its leadership position in Kerala. powder in Kerala) MQ21 MQ22 JQ22 SQ22 DQ22 Ujala Liquid detergent continues to gain 19.3% 21.9% 20.3% 20% 22.2% ground register
Slide 21: Fabric care (main wash)
20 Fabric care (main wash) Performance • Henko Portfolio clocked another quarter of robust performance across Liquid, Powder & Bar Categories. Key initiatives • Continued ATL support & Digital promotions featuring superstar Ms. Kajal Aggarwal. HenkoHenko • LUP introduced to generate trials for liqui
Slide 22: Dishwash (Exo)
Dishwash (Exo) Performance • Our distribution focus across channels has helped to reach out to new consumers and delivered consistent double-digit growth. • Further, Lower Unit Packs (‘LUP’) continue to gain acceptance and are selling strong in the rural markets thereby thrusting growth in revenues.
Slide 23: Dishwash (Pril)
Dishwash (Pril) Performance • Pril dishwash liquid proposition of superior value to consumers has placed brand on a strong wicket • Higher offtakes in the larger pouch segment is helping the brand to gain traction Market Share (Liquid) Pril Brand MQ21 MQ22 JQ22 SQ22 DQ22 PRIL 15.3% 14.3% 15.1% 15.1%
Slide 24: Household Insecticide
Household Insecticide Performance Market Share • Witnessed degrowth in category Format DQ21 SQ22 DQ22 owing to seasonal and industry Coil 24.3% 23.2% 22.9% issues affecting brand sales. Liquid 9.7% 8.4% 8.4% Source – NielsenIQ Key initiatives Maxo • Focused marketing inputs in key geographies • Cons
Slide 25: Personal Care
Personal Care Performance • Registered double digit growth across key markets. • Strong equity and emphasis on distribution to drive growth. Key initiatives • Continued ATL support across markets driving the core Margo proposition of neem. • Consumer activations across key geographies. TVC In Key Ma
Slide 26: Way Forward
WAY FORWARD • Focus on Acceleration in Growth through Distribution Drives, Category penetration strategy, Digitisation and Premiumisation • Build Strong Rural Franchise by Leveraging our Expanding Distribution Network • Enhance Brand Visibility with Power of Superstar Brand Endorsers • Execution led
Slide 27: Shareholding Pattern
SHAREHOLDING PATTERN As on December 31, 2022 FII 13.68% DII 17.55% Promoter and Promoter Group 62.89% Public FII 5.88% DII Public Promoter and Promoter Group 26
Slide 28: Disclaimer
DISCLAIMER Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include change
Slide 29: Thank You
THANK YOU Contact for any queries Sanjay Agarwal – CFO Email: Sanjay.Agarwal@Jyothy.com Contact No: +91 22 6689 2800/+91 9167012328 28