Iris Clothings Ltd. · NSE:IRISDOREME
Iris Clothings — Q3 FY2023 Earnings Presentation
31 slides from Iris Clothings's earnings presentation, Feb 3, 2023
Slide 1: Outcome of Board Meeting cover letter to NSE
Date: 3 February, 2023 To The Listing Department National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block Bandra-Kurla Complex Bandra(E) Mumbai-400051 NSE Symbol: IRISDOREME Sub: Outcome of the Board Meeting dated 34 February, 2023 Ref: Disclosure under Regulation 30 and 33 of
Slide 2: Limited Review Report
Stesalit Tower, Room No: 303 3rd floor, E 2-3, Block EP & GP Sector-V, Salt Lake, Kolkata- 700091 Ph- 91 (33) 40630462, 40697147 | AMK & ASSOCIATES Sunshine Tower, 7th Floor, Unit No.: 716, Senapati Bapat Marg, Dadar (West) \ Chartered Accountants Mumbai- 400013 Ph- 91 (22) 24322838 Limited Review R
Slide 3: Statement of Unaudited Financial Results
IRIS CLOTHINGS LIMITED Registered Office : 103/24/1, FORESHORE ROAD, HOWRAH - 711 102 CIN : L18109WB2011PLC166895 Statement of Unaudited Financial Results For The Quarter and Nine Months Ended 31st December, 2022 (Rs. in lakhs) QUARTER ENDED NINE MONTHS ENDED YEAR ENDED SI No PARTICULARS 31-Dec-22 |
Slide 4: Iris Clothings Q3 & 9M FY23 Financial & Operational Performance
EARNINGS RELEASE Q3 FY 2023 Iris Clothings Q3 & 9M FY23 Financial & Operational Performance Q3FY23 revenue at Rs. 204 Million; EBITDA stood at Rs. 32 Million Howrah, India, February 03, 2023 – Iris Clothings Limited (NSE: IRISDOREME), a readymade garment company engaged in designing, manufacturing,
Slide 5: About Iris Clothings Limited
EARNINGS RELEASE Q3 FY 2023 (in Rs. Million, unless otherwise mentioned) Particulars Q3FY23 Q3FY22 YoY (%) Q2FY23 QoQ (%) 9MFY23 9MFY22 YoY (%) Total Income 203.8 250.7 (18.7) % 317.9 (35.9) % 754.8 790.0 (4.4) % EBITDA 32.0 52.3 (38.7) % 67.6 (52.6) % 142.2 163.5 (13.1) % EBITDA margin 15.7% 20.9%
Slide 6: Forward-looking statements
EARNINGS RELEASE Q3 FY 2023 results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements t
Slide 7: Investor Presentation Q3 & 9M FY 2023
Investor Presentation Q3 & 9M FY 2023 Iris Clothing Limited – Investor Presentation 1
Slide 8: Financial Highlights & Developments
Investor Presentation Q3 & 9M FY 2023 Financial Highlights & Developments Iris Clothing Limited – Investor Presentation 2
Slide 9: Q3FY23 Update
Q3FY23 Update Business Update Financial Update ▪ Expanded our product stack and launched the sportswear ▪ Total Income stood at ₹203.8 Mn, down 18.7% YoY due to muted vertical. demand. ▪ Onboarded all our distributors on the B2B platform. ▪ EBITDA margin was down 513.7 bps YoY and stood at 15.7% in
Slide 10: P&L Statement
P&L Statement Particulars (in ₹ Mn) Q3FY23 Q3FY22 YoY (%) Q2FY23 QoQ (%) 9MFY23 9MFY22 YoY (%) Total Income 203.8 250.7 (18.7)% 317.9 (35.9)% 754.8 790.0 (4.4)% Total Expenses 171.8 198.4 (13.4)% 250.3 (31.4)% 612.7 626.4 (2.2)% EBITDA 32.0 52.3 (38.7)% 67.6 (52.6)% 142.2 163.5 (13.1)% EBITDA Margin
Slide 11: Balance Sheet
Balance Sheet (in ₹ Mn) Particulars FY 2021 FY 2022 H1 FY2023 Total non-current assets 325 329 305 Inventories 253 337 469 Trade Receivables 149 237 245 Cash & cash equivalents (incl. bank balances) 15 14 14 Total Current Assets 434 609 766 Total Assets 759 938 1,071 Equity 388 487 539 Lease Liabili
Slide 12: Ratio Analysis
Ratio Analysis EBITDA Margin (in %) Return on Capital Employed (in %) Return on Assets (in %) 22.8 22.9 10.8 21.5 19.5 19.3 20.0 18.2 18.4 8.3 8.6 17.0 8.2 15.5 4.8 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Decrease in the ratio has been due to significant Recovery i
Slide 13: Expanding on all Fronts
Expanding on all Fronts Upcoming ▶ Launch the Signed licensing undergarment Launched accessories agreements to design vertical for kids line under the infant apparels using Disney & wear vertical Marvel movie characters ▶ Spend towards brand awareness 120 125 131 133 Dec Jun Sep Nov Dec Jan 2023 202
Slide 14: About the Company
Investor Presentation Q3 & 9M FY 2023 About the Company Iris Clothing Limited – Investor Presentation 8
Slide 15: Company Overview
Company Overview Presence in Ecommerce platforms We are a fast-growing kids’ apparel company that is engaged in designing, manufacturing, branding and selling garments. Our sustained pursuit of design and innovation has made us a preferred We have been growing our presence online by fashionable kids
Slide 16: Product Portfolio
Product Portfolio Iris’ brand DOREME offers a wide range of apparels for Currently infants, toddlers, and junior boys and girls that suit both their ▪ Established DOREME as a reputable and trusted brand. indoor and outdoor requirements. ▪ Has solidified its position in the kids segment mainly throug
Slide 17: History
History Crossed the ₹50 crores turnover milestone Acquired land at Pachla, Howrah, West Bengal – a major Migrated from SME Launched DOREME step towards increasing portal of NSE to Main brand for Kids Wear manufacturing capabilities. Board of NSE 2004 2005 2012 2016 2018 2020 Listed as an SME under N
Slide 18: Market Opportunity
Investor Presentation Q3 & 9M FY 2023 Market Opportunity Iris Clothing Limited – Investor Presentation 12
Slide 19: Indian Textile & Apparel Industry
Indian Textile & Apparel Industry India’s Domestic Textile and Apparel Market Size (US$ in Bn) India is the second-largest producer of textiles and 190 garments in the world 13 30% 42 -25% Contributes 2.3% to the 106 country’s GDP 99 8 8 20 80 19 7 18 135 50 4 Employs 45 million workers 11 78 72 in
Slide 20: Kids Wear - the Fastest to Recover
Kids Wear - the Fastest to Recover Kids wear is expected to grow at a CAGR of 8.76% between 2021-2026 ~365 million Indians are below the age of 15 years. Hence, a large customer base LOW HIGH Kids wear registered a 200% growth despite a 4% drop in overall online fashion order volumes in FY2021 Signi
Slide 21: Our Value System
Investor Presentation Q3 & 9M FY 2023 Our Value System Iris Clothing Limited – Investor Presentation 15
Slide 22: Integrated Operations
Integrated Operations Iris has a complete in-house integrated infrastructure right from design conceptualisation to manufacturing to branding and selling of finished goods to wholesaler. Conceptualization of Raw Material Manufacturing & Sold to Design & Development Procurement Branding+ Wholesalers
Slide 23: Manufacturing Prowess
Manufacturing Prowess Manufacturing excellence has been one of our biggest strengths. Moreover, our state-of-the-art facilities help us increase our capabilities multifold, achieve economies of scale and provide locational synergies. Foreshore Road, Pachla, Uluberia, Srijjan Industrial Park, Howrah
Slide 24: Wide Network
Wide Network 2 Distributor Network Business Update Future Outlook 3 ▪ Iris has 133 distributors ▪ Plans to add distributors in 5 newer geographies especially 13 ▪ Has an online presence across in North & South India, to various fast-growing e- deepen market penetration 12 12 6 3 commerce channels li
Slide 25: Enhancing Brand Visibility
Enhancing Brand Visibility ▪ Iris plans to enhance its digital marketing and branding initiatives to better mirror the customers’ fast-changing needs. ▪ The Company plans to undertake activities to enhance its brand recall and customer connect on social media channels. This would eventually drive tr
Slide 26: Relationship with Suppliers
Relationship with Suppliers Strong and trust-based relationships is of “I have been associated with IRIS Clothings is reliable “IRIS Clothings is a great “Our association with paramount importance IRIS Clothings as a distributor and a professional company with an DOREME is since its inception. since
Slide 27: Sustainability
Sustainability Environmental Social Iris follows a strict ecological policy that comprises of 6 features Waste Reduction Recycling No Child Labour Iris made an improvement in its fabric Iris uses printing materials that is quality, which resulted in significant eco-friendly, recyclable and reduction
Slide 28: Investment Rationale
Investor Presentation Q3 & 9M FY 2023 Investment Rationale Iris Clothing Limited – Investor Presentation 22
Slide 29: Our Differentiating Factors
Our Differentiating Factors Continuous investments to expand manufacturing capabilities coupled with high return on capital employed indicating efficient use of that capital With ~15 years of experience, Catering to a large customer promoters have a strong expertise in segment of ~365 million the in
Slide 30: Safe Harbour Statement
Safe Harbour Statement This presentation has been prepared by and is the sole responsibility of Iris Clothings Limited (the “Company”). This presentation does not constitute any offer, recommendation or invitation to purchase or subscribe for any securities. This presentation has been prepared by th
Slide 31: Thank You
Thank You For further details please contact: Santosh Ladha Sonia Keswani/Vikash Verma Iris Clothings Limited Ernst & Young LLP 📞: +91 33 2979 0289 📞: +91 8017393854 📧: santosh.ladha@irisclothings.in 📧: sonia.keswani@in.ey.com 📧: vikash.verma1@in.ey.com REGISTERED OFFICE 103/24/1, Foreshore…