Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q3 FY2024 Earnings Presentation
24 slides from Pidilite Industries's earnings presentation, Jan 23, 2024
Slide 1: Earnings Presentation intimation letter to stock exchanges
23rd January, 2024 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: Q3 FY24 Earnings Presentation
Q3‘ FY 24 Earnings Presentation 1
Slide 3: Our Brands
OUR BRANDS ‘om FEVICOL Foviergt FEVI SEAL Araldite Lael perc PeRCEPT €& cipy Pidilite ; Puma anne ‘oii
Slide 4: 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 5: Performance Overview
PERFORMANCE OVERVIEW Current quarter`s revenue growth was aided by robust Underlying Volume Growth (‘UVG’) of 10.4% across categories and geographies. Growth was broad based across Consumer and Bazaar (‘C&B’) and Business to Business (‘B2B’) segments with both segments reporting double digit UVG
Slide 6: Performance Overview
PERFORMANCE OVERVIEW Despite uncertain global economic conditions, inflation and uncertain political conditions in some countries, International subsidiaries (excluding Pidilite USA Inc.) reported modest sales growth with EBITDA doubling over Q3 FY23. EBITDA Margins improved both sequentially and
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS a!
Slide 8: Earnings Summary Q3 FY24
EARNINGS SUMMARY Q3’ FY24 NET SALES EBITDA* PBT PAT CONSOLIDATED Rs. 3,119 Cr Rs. 742 Cr Rs. 687 Cr Rs. 511 Cr YOY GROWTH 4.4% 49.7% 64.1% 66.0% STANDALONE Rs. 2,823 Cr Rs. 708 Cr Rs. 694 Cr Rs. 523 Cr YOY GROWTH 4.6% 51.4% 72.1% 76.5% *EBITDA is before non-operating income. 7
Slide 9: Earnings Summary 9M FY24
EARNINGS SUMMARY 9M’ FY24 NET SALES EBITDA* PBT PAT CONSOLIDATED Rs. 9,447 Cr Rs. 2,129 Cr Rs. 1,953 Cr Rs. 1,443 Cr YOY GROWTH 4.1% 39.6% 46.8% 43.9% STANDALONE Rs. 8,542 Cr Rs. 2,022 Cr Rs. 1,934 Cr Rs. 1,445 Cr YOY GROWTH 4.4% 42.5% 51.2% 49.5% *EBITDA is before non-operating income. 8
Slide 10: Segment Summary - Standalone
SEGMENT SUMMARY - STANDALONE (in INR Crores) Sr. Q3 9M ended PARTICULARS No. Dec'22 Dec'23 Growth (%) Dec'22 Dec'23 Growth (%) 1 Segment Sales a) C&B 2,204 2,324 5.5% 6,584 7,017 6.6% b) B2B 508 532 4.6% 1,683 1,639 -2.6% c) Others 33 10 -70.9% 82 49 -39.6% Total 2,745 2,866 4.4% 8,349 8,705 4.3% Le
Slide 11: Overseas Subsidiaries Performance 9M FY24
OVERSEAS SUBSIDIARIES PERFORMANCE 9M’ FY24 (in INR Crores) Asia Sales 1% 231.7 234.2 Americas* Sales -35% 209.9 11% 135.6 EBITDA 43.7 39.4 EBITDA Middle East and Africa 1.4 Sales 16% EBITDA 208.1 178.7 -16.2 19.3 5.7 * Includes Pidilite USA Inc - In Q4 FY23, it has been decided to discontinue the op
Slide 12: Domestic Subsidiaries Performance 9M FY24
DOMESTIC SUBSIDIARIES PERFORMANCE 9M’ FY24 (in INR Crores) NET SALES EBITDA 500 24% 10% 80 2% 400 356.9 55.2 60 54.1 287.0 300 250.3 226.7 40 200 20 100 8.8 1.8 0 0 C&B B2B C&B B2B 9M FY 23 9M FY 24 9M FY 23 9M FY 24 11 EBITDA is before exceptional items. Figures are reported excluding other consoli
Slide 13: Industry Segment Composition
INDUSTRY SEGMENT COMPOSITION 4.4% 81.1% 7.8% Consumer & Pigment & Bazaar products Industrial Resins, Preparations Construction chemicals (Project) etc. 18.0% Business to Business 0.9% products Others 5.8% 0.9% Industrial Others Adhesives 6.1% Art & Craft Materials etc. 55.7% Adhesives & 19.3% Sealan
Slide 14: 5-Year Performance by Business Segments (Standalone)
5-Year Performance by Business Segments (Standalone) Numbers represent Percentage of Total Sales Consumer and Bazaar (C&B) Business to Business (B2B) B2B includes Others also 82% 81% 81% 22% 80% 80% 80% 20% 20% 20% 80% 20% 19% 19% 78% 18% 76% 16% 74% 14% 72% 12% 70% 10% 2018-19 2019-20 2020-21 2021-
Slide 15: Company at a Glance
COMPANY AT A GLANCE Brand established in Adhesives & sealants, History of creating Among the most trusted brands 1959 construction chemicals, strong brands in the country. Other big brands Pioneer in Consumer & art & craft products & include M-Seal, Fevikwik, Fevistik, Specialty Chemicals polymer em
Slide 16: Domestic Presence
DOMESTIC PRESENCE INDIA OPERATIONS 6,100+ SKUs of 870+ products Domestic Revenue of Rs. 9,713 Cr for FY23 38 plants, 36 Co-makers 5,200+ distributors 44 warehouses 7 regional offices & 5 RDCs 13 domestic subsidiaries (including 1 partnership firm) and 7 associates 15
Slide 17: Creating Value by Creating Categories
Creating Value by Creating Categories © PIONEER Established Brands Emerging categories Nascent Categories with high market with significant potential with huge market maturity and strong for market growth or creation opportunity share position share gain 1-2X GDP 2-4X GDP... 100 Crores revenue in 3
Slide 18: Marketing & Advertising
MARKETING & ADVERTISING Consistent and effective brand building activities across various categories a. Consumer Adhesives & Sealants b. Craftsmen Adhesives c. Waterproofing Chemicals d. Hobby & Craft Colours Several of the brands are well-known in respective categories (Fevicol, Fevikwik , M-Seal,
Slide 19: Connecting Digitally
CONNECTING DIGITALLY Surat Diamond Bourse 18
Slide 20: Celebrating Occasions - Digital Way
CELEBRATING OCCASSIONS- DIGITAL WAY 19
Slide 21: Share Holding Pattern - 31st December 2023
SHARE HOLDING PATTERN- 31st December 2023 15.18% Promoters Mutual Funds FPIs 11.49% Others 3.49% 69.84% 20
Slide 22: Share Price Movement
SHARE PRICE MOVEMENT 125 120 115 110 105 100 95 90 85 80 Pidilite Sensex Rebased to 100 21
Slide 23: Consistent Dividend Payouts
CONSISTENT DIVIDEND PAYOUTS 50% 44.5% 42.7% 40.6% 39.9% 40% 36.9% 30% 20% 10% 0% FY19 FY20 FY21 FY22 FY23 Note: The Net Profit considered for above calculation is excluding exceptional items 22
Slide 24: Investor Relations
CIN : L24100MH 19 69PLC 014336 Investor Relations Investor.relations@pidilite.co.in Manisha Shetty [Company Secretary] Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Andheri (E), Mumbai - 400 059. Phone : +91 22 28357949 Fax : +91 22 28216007 23
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