Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q4 FY2021 Earnings Presentation
40 slides from Pidilite Industries's earnings presentation, May 13, 2021
Slide 1: Cover letter to stock exchanges
t:_ 13th May, 2021 The Secretary The Secretary BSE Ltd. National Stock Exchange of India Ltd. Corporate Relationship Dept., Exchange Plaza, Plot no. C/1, G Block, 14th floor, P. J. Tower, Bandra-Kurla Complex, Dalal Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code — 500331 Stock
Slide 2: Investor Update: Quarter and year ended March 2021
Pidilite Industries Limited Investor Update Quarter and year ended March 2021 Financial Highlights Coverage Consolidated Standalone Financial Highlights Particulars Quarter Year Quarter Year Business segment wise results Ended Ended Ended Ended Overseas subsidiaries performance Mar’21 Mar’21 M
Slide 3: Financial Highlights and Dividend
EBITDA before non-operating income grew by 52.1% (Excluding PAPL: 40.8%). Profit before tax and Exceptional Items (PBT) grew by 62.6% (Excluding PAPL: 49.4%). Profit after tax (PAT) grew by 96.3% (Excluding PAPL 80.2%). Standalone Performance as compared to the same quarter last year: Net sa
Slide 4: Business Segment Wise Performance – Standalone
Business Segment Wise Performance – Standalone (On a comparable basis) Rs Crores Sr. PARTICULARS Quarter Ended Year Ended No Mar'21 Mar'20 Growth Mar'21 Mar'20 Growth 1 Segment Sales a) Consumer & Bazaar Products (C&B) 1,446.8 988.0 46.4% 4,978.6 4,974.0 0.1% b) Business to Business (B2B) 419.2 329.
Slide 5: Overseas and Domestic Subsidiaries Performance
Rs Crores Quarter ended Year ended EBITDA March-21 March-20 Growth March-21 March-20 Growth Asia 12.8 7.9 61.4% 37.0 28.7 28.7% Middle East and Africa -1.8 -0.9 -98.2% -6.3 -5.5 -13.4% Americas# 1.6 -7.2 122.2% 42.1 1.4 2955.3% Total# 12.6 -0.2 8227.2% 72.8 24.6 196.4% # Including diminution in inve
Slide 6: Statement of Standalone Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF STANDAL
Slide 7: Standalone Segment Information
---- 2 ---- STANDALONE SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31.03.2021 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Unaudited Unaudited Unaudited Audited Audited 1 Segment Revenue a) Consumer & Bazaar Prod
Slide 8: Standalone Statement of Assets and Liabilities
---3--- STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2021 Rs Crores As at As at Sr Particulars 31.03.2021 31.03.2020 No Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1,023.38 861.24 (b) Right of Use Assets 118.67 109.15 (c) Capital Work-In-Progress 281
Slide 9: Standalone Statement of Cash Flows
---4--- STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31.03.2021 Rs Crores For the year ended 31.03.2021 31.03.2020 Particulars Audited Audited A] Cash Flows from Operating Activities Profit before tax 1,456.63 1,436.95 Adjustments for: Finance costs recognised in Statement of Profit and Los
Slide 10: Notes to the Standalone Financial Results
---- 5 ---- Notes to the Standalone Financial Results: 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 12th May 2021. 2. The financial results of the Company have been prepared in accordance with Indian Accoun
Slide 11: Statement of Consolidated Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF CONSOLI
Slide 12: Consolidated Segment Information
---- 2 ---- CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND YEAR ENDED 31.03.2021 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2021 31.12.2020 31.03.2020 31.03.2021 31.03.2020 Unaudited Unaudited Unaudited Audited Audited 1 Segment Revenue a) Consumer & Bazaar 17
Slide 13: Consolidated Statement of Assets and Liabilities
---3--- CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2021 Rs Crores As at As at Sr No Particulars 31.03.2021 31.03.2020 Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1,285.03 1,141.95 (b) Right of Use Assets 157.81 147.00 (c) Capital Work-In-Progress
Slide 14: Consolidated Statement of Cash Flows
---4--- CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31.03.2021 Rs Crores For the year ended 31.03.2021 31.03.2020 Particulars Audited Audited A] Cash Flows from Operating Activities Profit before tax 1,522.49 1,469.77 Adjustments for: Share of profit from Associate (3.98) (3.03) Finance
Slide 15: Notes to the Consolidated Financial Results
---- 5 ---- Notes to the Consolidated Financial Results: 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 12th May 2021. 2. The above results comprise the results of Pidilite Industries Ltd. (Holding Company),
Slide 16: Q4 and FY21 Earnings Presentation
Q4 and FY 21 Earnings Presentation
Slide 17: Disclaimer
Disclaimer This presentation may contain statements which reflect the management’s current views and estimates and could be construed as forward looking statements. The future involves certain risks and uncertainties that could cause actual results to differ materially from the current views being e
Slide 18: Market Outlook
Market Outlook Pidilite Industries Limited 3
Slide 19: Financial Highlights
Building bonds over 60 years Financial Highlights
Slide 20: Q4 FY21 Earnings Summary
Q4 FY21 Earnings Summary excluding PAPL is shown in shaded portion * EBITDA is before non operating income. PBT is Profit before tax and Exceptional Items 5
Slide 21: FY21 Earnings Summary
FY21 Earnings Summary excluding PAPL is shown in shaded portion * EBITDA is before non operating income. PBT is Profit before tax and Exceptional Items 6
Slide 22: Performance Overview
Performance Overview • Resilient Consumer demand momentum in rural & metros across all major categories like adhesives, construction chemicals and DIY segment. • aided • • • Pidilite Industries Limited 7
Slide 23: Q4 FY21 Overseas Subsidiaries Performance
Q4 FY21 Overseas Subsidiaries Performance (in INR Crores) Asia Sales Americas 69.6 56.4 Sales 56.6 38.8 EBITDA 12.8 7.9 EBITDA 1.6# -7.2 Sales 40.3 48.8 EBITDA -0.9 -1.8 Middle East and Africa # Including diminution in investments Rs 3.6 Cr in current quarter and one of tax provision of Rs 6.6 Cr in
Slide 24: FY21 Overseas Subsidiaries Performance
FY21 Overseas Subsidiaries Performance (in INR Crores) Asia Sales Americas 233.9 226.0 Sales 244.5 189.3 EBITDA 28.7 37.0 EBITDA 42.1# 1.4 Sales EBITDA 155.7 156.0 -5.5 -6.3 Middle East and Africa # Including diminution in investments Rs 3.6 Cr in current quarter and one of tax provision of Rs 6.6 C
Slide 25: Q4 FY21 Domestic Subsidiaries Performance
Q4 FY21 Domestic Subsidiaries Performance 120 109.6 (in INR Crores) 100 80 70.0 72.1 61.5 60 39.2 33.1 40 30.9 25.3 20 15.3 0 Nina Percept Pvt ICA Pidilite Pvt Ltd Cipy Polyurethane PAPL* Others Ltd Pvt Ltd Q4, FY 2019-20 Q4, FY 2020-21 40 34.3 35 30 25 20 15 10 4.0 6.3 4.8 5 2.6 2.0 0.9 - (5) -1.7
Slide 26: FY21 Domestic Subsidiaries Performance
FY21 Domestic Subsidiaries Performance 267.8 (in INR Crores) 280 240 200 176.6 185.8 178.2 168.3 160 121.4 120 89.7 61.1 71.7 80 40 0 Nina Percept Pvt ICA Pidilite Pvt Ltd Cipy Polyurethane PAPL* Others Ltd Pvt Ltd FY 2019-20 FY 2020-21 80 60.3 60 40 24.1 25.2 11.5 15.4 20 1.6 6.3 - (20) -0.7 (40) -
Slide 27: Company Overview
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Slide 28: Company Overview
Company Overview • M-Seal, Fevikwik, Fevistik, Roff, Dr. Fixit, Fevicryl, Motomax, Hobby Ideas, Araldite, Araldite Karpenter and Araseal Pidilite Industries Limited 13
Slide 29: Industry Segment Composition
Industry Segment Composition Industrial Resins, Construction Pigment & Preparations chemicals (Project) etc. Others Industrial Adhesives Art & Craft Materials etc. Adhesives & % Sealants Construction & Paint Chemicals Standalone Results - % of Total Sales from FY 2020-21 14
Slide 30: 5-Year Performance by Business Segments
5-Year Performance by Business Segments Numbers represent Percentage of Total Sales Consumer and Bazaar (C&B) Business to Business (B2B) B2B includes Others also 82% 81% 24% 81% 22% 22% 21% 80% 80% 20% 20% 80% 20% 19% 79% 79% 18% 78% 16% 78% 14% 77% 12% 76% 10% 2016-17 2017-18 2018-19 2019-20 2020-2
Slide 31: Domestic Presence – India operations
Domestic Presence – India operations • • • • • • Pidilite Industries Limited 16
Slide 32: Global Presence
Global Presence • • • • • Pidilite Industries Limited 17
Slide 33: Connecting users and dealers via digital platform
Connecting users and dealers via digital platform Pidilite Industries Limited 18
Slide 34: Celebrating Occasions via Digital Media
Celebrating Occasions via Digital Media Pidilite Industries Limited 19
Slide 35: Adopting Alternate Trade Channels
Adopting Alternate Trade Channels • Alternate Trade Channels like Ecommerce, Modern Trade (MT) and Pidilite Ki Duniya (PKD) have augmented Q4 growth • E-comm Sales at 4X growth • Modern Trade Sales at 1.3X growth • PKD Sales at 1.3X growth Pidilite Industries Limited 20
Slide 36: Marketing/ Advertising
Marketing/ Advertising • • • • • Pidilite Industries Limited 21
Slide 37: Shareholding Pattern as of March 31, 2021
Shareholding Pattern as of March 31, 2021 14.04% Promoters Mutual Funds 11.88% FPIs 3.92% Others 70.16% Pidilite Industries Limited 22
Slide 38: Share Price Movement
Share Price Movement 200 Pidilite Sensex 180 160 140 120 100 80 60 Mar-2020 Apr-2020 May-2020 Jun-2020 Jul-2020 Aug-2020 Sep-2020 Oct-2020 Nov-2020 Dec-2020 Jan-2021 Feb-2021 Mar-2021 Pidilite Industries Limited 23
Slide 39: Backed by consistent dividend payouts
Backed by consistent dividend payouts 50% 40.6% 40% 38.1% 36.9% 33.1% 33.8% 30% 20% 10% 0% FY16 FY17 FY18 FY19 FY20 Note: The Net Profit considered for above calculation is excluding exceptional items FY 21: The Board of Directors have proposed a final dividend of Rs. 8.5 Per share, subject to appro
Slide 40: Investor Contacts
Investor Contacts Investor Relations - investor.relations@pidilite.co.in Puneet Bansal, Company Secretary Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Andheri (E), Mumbai - 400 059. Phone : +91 22 28357949 CIN : L24100MH1969PLC014336 Fax : +91 22 28216007
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