Slide 1: CARYSIL Limited Investor Presentation
CARYSIL Limited Leader in Lifestyle Kitchen Products Advancing through Innovation. Progressing through Expansion. Investor Presentation November 2022
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Carysil Limited (formerly known as Acrysil Limited) (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchas
Slide 3: Q2 & H1FY23 Highlights
Q2 & H1FY23 Highlights
Slide 4: Message from Chairman & MD
Message from Chairman & MD Commenting on the Results, Mr. Chirag Parekh, Chairman & Managing Director said, “First and foremost, I am happy to inform that we have renamed our company as CARYSIL Limited, in our order to have a brand recall, launch CARYSIL as a global brand thereby enhancing its globa
Slide 5: Q2 & H1 FY23: Key Business Highlights
Q2 & H1 FY23: Key Business Highlights In Q2FY23, witnessed a periodic slowdown phase in Exports market due to higher than Domestic business has increased by ~58% usual inventory levels maintained during YoY to Rs. 71 crores for H1 FY23 contributing Company Increased dealer network in COVID period by
Slide 6: Consolidated: H1FY23 Performance
Consolidated: H1FY23 Performance Rs. Crores Total Income* (Rs. Crs) EBITDA^ (Rs. Crs) PAT After MI (Rs. Crs) 310.5 57.1 31.1 53.2 27.9 221.2 H1FY22 H1FY23# H1FY22 H1FY23# H1FY22 H1FY23# Domestic Revenue (Rs. Crs) Exports Revenue **(Rs. Crs) 70.7 172.2 172.9 44.8 H1FY22 H1FY23# H1FY22 H1FY23# *Incude
Slide 7: Consistent Growth
Consistent Growth Rs. Crores Quartz Sink Volumes* (Units in ‘000s) Other Volumes* (Units in ‘000s) Total Income Steel Sink Kitchen Appliances & Others# 650 153 492 117 48 +22.1% 114 413 103 387 91 88 316 311 346 51 45 280 300 297 43 252 267 67 36 27 181 197 23 105 60 66 69 61 44 55 FY17 FY18 FY19 FY
Slide 8: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue H1FY23 Export* 56% 29% 22% Domestic 71% 12% 10% Quartz Sink Steel Sink Appliances & Others Solid Surface 5% FY22 95% 9% Strengthening 14% 77% ‘CARYSIL’ Brand Quartz Sink Steel Sink Appliances & Others *STL which got consolidated from Q1 FY23, i
Slide 9: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q2FY23 Q2FY22 Y-o-Y Q1FY23 Q-o-Q H1FY23 H1FY22 Y-o-Y Revenue 139.2 119.4 171.3 310.5 217.0 ▪ Excluding sales for STL, the Gain / (Loss) on Foreign Exchange 0.0 2.5 0.0 0.0 4.3 total income for Q2FY23 Total Income 139.2 121.9 14% 171.3 -19% 310.5 221.
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Sep-22 Mar-22 Liabilities (Rs. Crs.) Sep-22 Mar-22 Non-current assets 340.5 245.8 Total Equity 290.3 256.9 Property Plant & Equipment 181.5 168.3 Share capital 5.4 5.3 Right to use of assets 15.8 12.3 Other Equity 281.4 248.4 Goodwill 103.4 23.9 Money rec
Slide 11: Consolidated Cash Flow
Consolidated Cash Flow Particulars (Rs. Crs.) Sep-22 Sep-21 Net Profit For The Year 27.9 31.3 Adjustments for: Non-Cash Items / Other Investment or Financial Items 37.4 22.3 Operating profit before working capital changes 65.4 53.7 Changes in working capital 6.1 -8.4 Cash generated from Operations 7
Slide 12: Standalone Profit & Loss
Standalone Profit & Loss Particulars (Rs. Crs.) Q2FY23 Q2FY22 Y-o-Y Q1FY23 Q-o-Q H1FY23 H1FY22 Y-o-Y Revenue 82.4 94.4 108.4 190.8 173.1 Gain / (Loss) on Foreign Exchange 0.0 2.5 0.0 0.0 4.3 Total Income 82.4 97.0 -15% 108.4 -24% 190.8 177.4 8% Raw Material 35.2 41.2 46.3 81.5 75.9 Employee Expenses
Slide 13: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Sep-22 Mar-22 Liabilities (Rs. Crs.) Sep-22 Mar-22 Non-current assets 223.4 204.9 Total Equity 215.7 200.3 Property Plant & Equipment 151.0 147.0 Share capital 5.4 5.3 Right to use of assets 15.8 12.3 Other Equity 210.3 195.0 Goodwill - - Intangible Assets
Slide 14: Standalone Cash Flow
Standalone Cash Flow Particulars (Rs. Crs.) Sep-22 Sep-21 Net Profit For The Year 17.1 26.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 23.2 19.7 Operating profit before working capital changes 40.2 46.6 Changes in working capital -16.3 -0.4 Cash generated from Operations 2
Slide 15: Capex Update
Capex Update Capacity Expansion of Quartz Kitchen Sinks Capacity Expansion of Stainless Steel Sinks Capacity Expansion Capex Expansion of Capex Expansion of Capex Expansion of of 100,000 units Additional 140,000 Additional 160,000 Additional 200,000 Capacity Expansion announced in 200203 units annou
Slide 16: Company Overview
a Company Overview
Slide 17: Numero Uno Position
Numero Uno Position Only Introduced Certification for Manufacturer with Schock Physical Vapor Deposition (PVD) Technology (Germany) Technology ISO 9001:2015, ISO 14001:2015 In Asia in Quartz Sink For metallic finish of stainless ISO 45001:2018 steel sinks PAN India presence Quartz Sink Capacity Expo
Slide 18: Products with Global Standards sold in 55 Countries
Products with Global Standards sold in 55 Countries Company presently exports to over 55 countries. Plan to expand further by acquiring new customers and penetrating in new geographies ✓ We have expanded to newer geographies – Australia, New Zealand, Gulf countries, Southeast Asia, China, Singapore,
Slide 19: Our Distribution Model
Our Distribution Model International Domestic Significant Presence in UK Strong Foothold in India Market 2,200 Dealers 65 Franchise Shop 80 Galleries STRATEGIC Acquisition of Acquisition of ‘Tickford Orange Limited’, holding 82 Distributors Homestyle Products Limited company of its operating subsidi
Slide 20: Acrysil – Over the Years
Acrysil – Over the Years 2022 Acrysil started its first Acquisition of international Launched 2021 Tickford Kitchen subsidiary in Orange Appliances in Commenced Limited, Germany – the Domestic 2020 supplies of holding Acrysil GmbH. Market under Quartz sinks to company of the brand name IKEA its oper
Slide 21: Pillars of Integrated Business
Pillars of Integrated Business Manufacturing Facilities & Distribution Network Brand Product Basket Technology Gallery • Quartz Sinks: 10,00,000 pa* , • The acquisition of 100% stake in a • Brand promotion on TV and in print, Stainless Steel : 90,000 pa and • Offers a wide range of cutting distribut
Slide 22: Board of Directors
Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik Chairman and Managing Director Independent Director He holds a BBA Degree from premier ' European University’ A Chartered Accountant, was a partner of a reputed Accounting firm - M/s After joining the company in 1993, he successfully steere
Slide 23: Awards & Certifications
Awards & Certifications FGI’s Award for ‘Best Exports IPF Fastest growing Manufacturing Performance & Promotion’ Company Award 03 04 If Design Award to Sternhagen SaniQ kristall Certificate for ‘Best CSR wash basin 02 05 practices’ by Rotary Club Award Certificate for 01 06 Manufacturing Innovation
Slide 24: Marketing campaign for 'Carysil' Brand
Marketing campaign for ‘Carysil’ Brand ➢ Acrysil has signed Bollywood celebrity ‘Vaani Kapoor’ for new marketing campaign #TheHeartofMyHome for its ‘Carysil’ Brand ➢ Under the ‘Carysil’ brand, company sells lifestyle kitchen sinks and built-in appliances ➢ Campaign #TheHeartofMyHome unveils a new ra
Slide 25: Increasing Product Portfolio
Increasing Product Portfolio Sinks Kitchen Appliances Product Segment Bathroom Suite Bath Fittings 25
Slide 26: Sinks
a Sinks
Slide 27: Only Company to make Quartz Sinks in Asia with German Technology
Only Company to make Quartz Sinks in Asia with German Technology Only Company Different Models Plant Capacity Many Outlets in Asia The only company in Asia and 4 plants having a combined Developed more than 150+ The brand is available in among a few companies capacity of 10,00,000* models to cater t
Slide 28: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 12% to Consolidated revenue* Production Capacity 90,000 sinks per annum^ Target Market for Quadro (Designer) Sinks Caters to high end segment who are willing to pay a premium for superior quality, design and fini
Slide 29: Kitchen Appliances
Kitchen Appliances
Slide 30: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Chimneys Dish Washer Cook Tops Built in Ovens Product Portfolio Wine Chillers Cooking Range Micro Wave Owens Currently Hoods contributing ~8% to the Revenue* Manufacturing and Trading of Poised to become a significant player in the Appliances overall
Slide 31: Bath Segment
L Bath Segment
Slide 32: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology FUNDAMENTALS OF THE BUSINESS ▪ Brand owned by Acrysil’s Wholly owned Subsidiary in Germany, ‘Acrysil GmbH’ ▪ 60+ Showrooms & SIS for displaying the products Product Range of Branding Synergy Innovation Achievements Details Products Synergy
Slide 33: Business Model
| Business Model
Slide 34: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Input Processing Output Purchase of Moulds All the Moulds are imported Production Capacity 10,00,000* units per annum Variety of Moulds ▪ Has more than 150 moulds Place: Bhavnagar, Gujarat ▪ 400+ SKU’s Made to Order Life of Moulds Made as per the cust
Slide 35: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands With strong focus on domestic market, we are increasing our penetration domestically by expansion in dealer network pan India. Further plans to increase dealers to ~ 3,000 by end of FY23 Dealer Network 2200 1500 1500 1500 1500 1200 1300 800 550 400 201
Slide 36: Increasing Presence Across India
Increasing Presence Across India ✓ Increasing Penetration in domestic market through opening of many galleries across India ✓ Displaying vast range of ‘Carysil’ products ranging from kitchen sinks, chimneys, hobs, cooktops, faucets, dishwashers, etc. 36
Slide 37: Presence in UK through Acrysil Products Ltd.
Presence in UK through Acrysil Products Ltd. (formerly known as Homestyle Products Ltd.) Acrysil holds 100% in Homestyle Products through Acrysil UK Limited The name of Homestyle Products Limited has been changed to Acrysil Products Limited Products sold under Acrysil Products Ltd. Revenues (Mn. GBP
Slide 38: Further strengthened Presence in UK through 'Sylmar Technology Limited'
Further strengthened Presence in UK through ‘Sylmar Technology Limited’ The acquisition is a natural and strategic fit for Carysil and will catapult the Company into new orbit of growth Acquisition Revenues (Mn. GBP) Covid Impact +11.0% 14.0 13.9 7.0 12.3 6.3 Overview Deal & Consideration Rationale
Slide 39: Multiple Growth Drivers
Multiple Growth Drivers Strong Distribution Network Strengthen the Distribution network by tie up with Homestyle and Short Term STL, UK and plan to add new 100 galleries and 34 more distributor and increase dealer network by ~3000 dealers by FY23 Branding & Technology Focused on capturing the Brand
Slide 40: Historical Financials
Historical Financials
Slide 41: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) FY22 FY21 FY20 Revenue 483.9 309.7 276.2 Gain / (Loss) on Foreign Exchange 8.5 5.8 - Total Income 492.4 315.5 276.2 Raw Material 209.5 141.8 137.4 Employee Expenses 29.9 22.2 22.2 Other Expenses 137.5 79.9 70.3 EBITDA 115.5 71.6 46.4 EBITDA
Slide 42: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-22 Mar-21 Mar-20 Non-current assets 245.8 170.3 138.8 Total Equity 256.9 194.0 160.2 Property Plant & Equipment 168.3 121.2 97.8 Share capital 5.3 5.3 5.3 Right to use of assets 12.3 5.0 1.4 Other Equity 248
Slide 43: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Mar-20 Net Profit For The Year 65.0 39.3 22.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 87.0 38.7 29.1 Operating profit before working capital changes 152.0 78.0 51.9 Changes in working capital -81.3 -2
Slide 44: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) FY22 FY21 FY20 Revenue 388.0 248.3 214.4 Gain / (Loss) on Foreign Exchange 8.3 5.8 4.1 Total Income 396.3 254.2 218.5 Raw Material 163.6 110.2 103.7 Employee Expenses 25.2 16.0 16.7 Other Expenses 120.5 72.7 62.0 EBITDA 87.1 55.3 36.0 EBITDA
Slide 45: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-22 Mar-21 Mar-20 Non-current assets 204.9 145.6 114.4 Total Equity 200.3 151.4 130.3 Property Plant & Equipment 147.0 104.9 83.8 Share capital 5.3 5.3 5.3 Right to use of assets 12.3 5.0 1.4 Other Equity 195.0
Slide 46: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Mar-20 Net Profit For The Year 51.5 26.6 12.8 Adjustments for: Non-Cash Items / Other Investment or Financial Items 44.3 34.0 25.3 Operating profit before working capital changes 95.8 60.6 38.1 Changes in working capital -30.4 -12.1
Slide 47: Improving Performance
Improving Performance Return on Capital Employed (%) Return on Equity (%) Working Capital Days +710 bps 24.0% 28.9% 70 21.8% 21.3% 63 20.7% +2180 bps 56 16.9% 20.2% 51 16.4% 44 14.5% 13.2% 28 10.3% 7.1% FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 47
Slide 48: Regular Dividend Payout
Regular Dividend Payout Dividend 21.2% 22.8% 27.8% 21.7% 18.1% 14.3% 13.6% 9.9% Payout (excl. DDT) 24.3 21.9 18.9 18.0 14.7 8.4 6.6 5.0 5.0 4.6 4.0 2.0 2.4 1.0 1.2 1.2 2015 2016 2017 2018# 2019# 2020# 2021# 2022# EPS DPS The Board of Directors have recommended a final dividend of Rs. 1.20 per equity
Slide 49: CARYSIL Limited
For further information, please contact Company : Investor Relations Advisors : CARYSIL Limited CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma – CFO Mr. Rahul Agarwal/ Mr. Mandar Chavan cfo@Acrysil.com rahul.agarwal@sgapl.net/ mandar.chavan@sgapl.net +91 9821438864 / +91 9699