V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q2 FY24 Earnings Presentation
19 slides from V-guard Industries's earnings presentation, Oct 31, 2023
Slide 1: Exchange filing cover letter for Investor Presentation
October 31, 2023 The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai- 400 001 Bandra-East, Mumbai- 400 051 Scrip
Slide 2: V-Guard Industries Q2 FY24 Earnings Presentation
V-Guard Industries Q2 FY24 Earnings Presentation
Slide 3: Disclaimer
2 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
Slide 4: Table of Contents
3 Table of Contents MD’s Message 04 Key Highlights 05 Financial Highlights 06-10 Segment-wise/Geographical Breakup of Revenues 11-13 Annexure 14-16
Slide 5: Managing Director's Message
4 Managing Director’s Commenting on the performance for Q2 FY24, Mr. Mithun Chittilappilly, Managing Director – V-Guard Message Industries Limited said, “The second quarter witnessed subdued consumer demand especially in discretionary categories like consumer durables thereby impacting topline growt
Slide 6: Key Highlights – Q2 FY24
Key Highlights – Q2 FY24 5 • Q2 FY24 revenue increased by 14.9% YoY to Rs. 1,133.75 crore Revenue increased by • South markets witnessed a YoY growth of 6.7% whereas Non-South markets grew by 11.3% in Q2 FY24 14.9% YoY in Q2 FY24 • Non-South markets contributed to 43.8% of total revenues in Q2 FY24
Slide 7: P&L Snapshot (including Sunflame)
6 P&L Snapshot (including Sunflame) P&L Statement Q2 FY24 Q2 FY23 Change Q1 FY24 H1 FY24 H1 FY23 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue 1,133.75 986.55 14.9% 1,214.76 2,348.51 2,005.05 17.1% COGS 750.92 697.73 7.6% 819.91 1,570.83 1,410.59 11.4% Gross Margin
Slide 8: P&L Snapshot (excluding Sunflame)
7 P&L Snapshot (excluding Sunflame) P&L Statement Q2 FY24 Q2 FY23 Change Q1 FY24 H1 FY24 H1 FY23 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue 1,072.03 986.55 8.7% 1,151.61 2,223.64 2,005.05 10.9% COGS 710.88 697.73 1.9% 778.98 1,489.86 1,410.59 5.6% Gross Margin 33
Slide 9: Financial Highlights (Q2 FY24 vs. Q2 FY23)
8 Financial Highlights (Q2 FY24 vs. Q2 FY23) Revenue (Rs. crore) Gross Profit (Rs. crore) 1,134 987 383 289 Key ratios (%) Q2 FY24 Q2 FY23 Gross Margin 33.8% 29.3% 14.9% 32.5% EBITDA Margin (excl. other income) 8.2% 7.4% Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Net Margin 5.2% 4.4% Ad & Promotion Exp./ Reven
Slide 10: Financial Highlights (H1 FY24 vs. H1 FY23)
9 Financial Highlights (H1 FY24 vs. H1 FY23) Revenue (Rs. crore) Gross Profit (Rs. crore) 2,349 778 2,005 594 Key ratios (%) H1 FY24 H1 FY23 Gross Margin 33.1% 29.6% 17.1% 30.8% EBITDA Margin (excl other income) 8.4% 7.7% H1 FY23 H1 FY24 H1 FY23 H1 FY24 Net Margin 5.2% 4.8% EBITDA (Rs. crore) PAT (R
Slide 11: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Balance Sheet Perspective 10 Balance Sheet Snapshot (Rs. Cr) 30 September 2023 30 June 2023 30 September 2022 Net Worth 1,682.55 1,676.78 1,460.42 Gross Debt 293.17 379.17 10.00 Current Investments 35.13 90.24 100.62 Cash & Cash Equivalents (inc. bank balance) 99.08 93.10 69.9
Slide 12: Segment-wise Breakup – Q2 FY24 vs. Q2 FY23
11 Segment-wise Breakup – Q2 FY24 vs. Q2 FY23 Q2 FY24 Q2 FY23 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 255.09 22.5% 227.46 23.1% 12.1% Electricals 462.28 40.8% 421.77 42.7% 9.6% Consumer Durables 354.66 31.3% 337.32 34.2% 5.1% Sunflame 61.72 5.4%
Slide 13: Segment-wise Breakup – H1 FY24 vs. H1 FY23
12 Segment-wise Breakup – H1 FY24 vs. H1 FY23 H1 FY24 H1 FY23 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 618.82 26.4% 530.91 26.5% 16.6% Electricals 919.00 39.1% 837.72 41.8% 9.7% Consumer Durables 685.82 29.2% 636.42 31.7% 7.8% Sunflame 124.87 5.3
Slide 14: Geographical Breakup of Revenues
13 Geographical Breakup of Revenues Q2 FY24 Q2 FY23 YoY growth Region Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) South 602.76 56.2% 564.94 57.3% 6.7% Non-South 469.27 43.8% 421.61 42.7% 11.3% Total (excl. Sunflame) 1,072.03 100.0% 986.55 100.0% 8.7% Sunflame 61.72 - Total Revenue 1,133.
Slide 15: UARD
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Slide 16: Market Overview of V-Guard's Product Portfolio
15 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Electronics Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Microtek, Livguard, Stabilizers 1,700-1,800 55-60% 7-8% 42-45% Bluebird Luminous, Microtek, DUPS & Batte
Slide 17: Market Overview of V-Guard's Product Portfolio
16 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Appliances Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Water Heaters 2,500-2,600 65-70% 10-12% 14-16% Havells, Bajaj, Crompton, Racold Crompton, Usha, Havells,
Slide 18: About V-Guard Industries
17 About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, founded 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 mu
Slide 19: Thank You
THANK YOU