V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q2 FY2015 Earnings Presentation
23 slides from V-guard Industries's earnings presentation, 2014
Slide 1: V-Guard Industries Q2 FY2015 Earnings Presentation
V-Guard Industries Q2 FY2015 Earnings Presentation
Slide 2: Disclaimer
Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those s
Slide 3: Table of Contents
Table of Contents C o m p a ny O v e r v i e w MD’s Message F i n a n c i al H i g h l i g ht s S e g m e n t - w i se / Ge o g r ap hi c a l B r e a k u p o f R e v e n ue s Outlook A n n e x ur e 3
Slide 4: Company Overview
Company Overview • Electronics - Stabilizers, UPS and Digital UPS C o m p r e he n s iv e p o r t f o li o • Electricals - Pumps, House Wiring and Industrial Cables, Electric Water Heaters, Fans catering to the mass • Other products include Solar Water Heaters, Induction cooktops, Switchgears and Mi
Slide 5: Managing Director's Message
Managing Director’s Message Commenting on the performance for Q2 FY2015, Mr. Mithun Chittilappilly, Managing Director – V-Guard Industries Limited said, “We have delivered a strong performance this quarter with a top line growth of 29% YoY and PAT growth of 32% YoY bolstered by good response in the
Slide 6: Key Highlights – Q2 FY2015
Key Highlights – Q2 FY2015 Revenue growth of 29% YoY to Rs. 431 crore Working capital cycle at 82 days • Non-South markets grew by 47% YoY and accounted for • Increase in inventory on account of stocking up of 33% of total sales products leading up to the winter season • 6 day QoQ improvement in deb
Slide 7: Financial Highlights (Q2 FY2015)
Financial Highlights (Q2 FY2015) Total Income (Rs. crore) Gross Profit EBITDA (Rs. crore) PAT (Rs. crore) 431 121 37 19 334 92 28 15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Key ratios (%) Q2 FY15 Q2 FY14 Gross Margin 28.1% 27.6% EBITDA Margin 8.5% 8.4% Net Margin 4.4% 4.3% Ad
Slide 8: Financial Highlights (H1 FY2015)
Financial Highlights (H1 FY2015) Total Income (Rs. crore) Gross Profit EBITDA (Rs. crore) PAT (Rs. crore) 909 245 78 42 742 198 60 32 H1 FY14 H1 FY15 H1 FY14 Q1 FY15 H1 FY14 H1 FY15 H1 FY14 H1 FY15 Key ratios (%) H1 FY15 H1 FY14 Gross Margin 27.0% 26.6% EBITDA Margin 8.6% 8.1% Net Margin 4.6% 4.3% A
Slide 9: Financial Highlights – B/S Perspective
Financial Highlights – B/S Perspective Balance Sheet Snapshot (Rs. crore) 30 September 2014 30 June 2014 30 September 2013 Net worth 360.4 340.4 294.5 Total debt 129.1 82.5 107.7 o Working capital 93.2 44.4 71.4 o Term loan 35.9 38.1 36.3 Acceptances 71.6 69.3 80.3 Fixed Assets 165.8 166.0 164.0 Key
Slide 10: Segment-wise Breakup of Revenues – Q2 FY15 vs Q2 FY14
Segment-wise Breakup of Revenues – Q2 FY15 vs Q2 FY14 Q2 FY2015 Q2 FY2014 Products Contribution (%) Contribution (%) YoY growth (%) (Rs. cr.) (Rs. cr.) Stabilizers 67.9 15.7% 54.3 16.2% 25.1% Standalone UPS 8.1 1.9% 11.0 3.3% -26.4% Digital UPS 45.5 10.5% 19.4 5.8% 134.4% Electronics Segment Total 1
Slide 11: Segment-wise Breakup of Revenues – H1 FY15 vs H1 FY14
Segment-wise Breakup of Revenues – H1 FY15 vs H1 FY14 H1 FY2015 H1 FY2014 Products Contribution (%) Contribution (%) YoY growth (%) (Rs. cr.) (Rs. cr.) Stabilizers 178.9 19.7% 144.5 19.5% 23.8% Standalone UPS 15.0 1.7% 22.5 3.0% -33.2% Digital UPS 120.9 13.3% 82.7 11.1% 46.2% Electronics Segment Tot
Slide 12: Geographical Breakup of Gross Revenues
Geographical Breakup of Gross Revenues South Non-South Contribution (%) 294 340 435 243 142 28% 33% 96 South 72% 67% Non-South Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 Q2 FY14 Q2 FY15 South Non-South Contribution (%) 530 308 754 915 224 30% 34% South 70% 66% Non-South H1 FY14 H1 FY15 H1 FY14 H1 FY15 H1 FY14
Slide 13: Outlook
Outlook Distribution Advertising Working capital Financial Industry Drivers Network Expenditure efficiencies Performance • Strong demand from • To increase more • Continued investments • Target to reduce cash • Expectations of 20% housing construction retailers below existing in advertising and conv
Slide 14: Annexure
Annexure
Slide 15: Production Model
Production Model PVC Cable Factory LT Cable Factory Solar Water Heater Factory Stabilizer Manufacturing Units No. of Product Units Location Outsourcing Objectives Own Manufacturing Facilities • Asset light model outsourcing ~60% products PVC Wiring Cables 2 Coimbatore, Kashipur • Complete control ov
Slide 16: Strong Financial Performance FY09-14
Strong Financial Performance FY09-14 Revenue EBITDA and EBITDA Margins CAGR – 37% 1,518 CAGR – 29% 1,360 140 15.0% 12.0% 120 11.1% 10.7% 12.0% 965 100 8.3% Rs. crore Rs. crore 80 9.0% 8.4% 699 9.9% 60 6.0% 430 317 40 3.0% 20 35 52 75 96 114 127 0 0.0% FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2009
Slide 17: Strong Financial Performance FY09-14
Strong Financial Performance FY09-14 ROE ROCE Net Worth Gross D/E 25.9 25.3 350 1.40 23.1 24.0 300 1.20 19.1 250 0.8 1.00 17.6 Rs. crore 24.1 23.0 22.0 200 0.6 0.6 0.80 20.0 0.5 18.0 150 0.60 0.3 100 0.2 0.40 13.7 50 126 141 172 211 261 318 0.20 0 0.00 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY200
Slide 18: Segment-wise Breakup of Revenues – FY14 vs. FY13
Segment-wise Breakup of Revenues –FY14 vs. FY13 FY2014 FY2013 Products Contribution (%) Contribution (%) YoY growth (%) (Rs. cr.) (Rs. cr.) Stabilizers 266.4 17.6% 237.8 17.5% 12.0% Standalone UPS 36.3 2.4% 48.3 3.6% -24.9% Digital UPS 147.7 9.7% 173.3 12.7% -14.7% Electronics Segment Total 450.4 29
Slide 19: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Bluebird, Capri, Consumer Durable stores, 400.00 800.00 1,200.00 Logicstat, 100% Outsourced Electrical and Hardware Premier, Stores Everest STAB
Slide 20: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Crompton Electrical and hardware Greaves, 900.00 1,100.00 2,000.00 90% Outsourced Stores, Pump and Pipe Kirloskar, CRI, fittings Stores Texmo MO
Slide 21: Market Size across Product Segments
Market Size across Product Segments Market Size (Rs. Crore)* Production Product Key Players Distribution Channel Strategy Model Organised Unorganised Total Numeric, 160.00 240.00 400.00 APC, Outsourced Consumer Durable stores Emerson UPS Consumer Durable stores, Microtek, Electrical and Hardware 6,5
Slide 22: About V-Guard Industries
About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, incepted in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a mult
Slide 23: Thank You
THANK YOU