Kajaria Ceramics Limited · NSE:KAJARIACER
Kajaria Ceramics — Q4 FY22 Earnings Presentation
40 slides from Kajaria Ceramics's earnings presentation, May 17, 2022
Slide 1: Outcome of the Board Meeting
IND I A'S NO .1 TILE COMPANY Kajaria May 17, 2022 BSE Limited The National Stock Exchange of India Ltd. P.J. Towers Exchange Plaza Dalal Street Sandra Kurla Complex Mumbai - 400 001 Sandra (E) Mumbai - 400 051 Dear Sir, Re.: Outcome of the Board Meeting and announcements pursuant to the SEBI (Listin
Slide 2: Outcome of the Board Meeting (continued)
IND I A'S NO .1 TILE COMPANY Kajaria 4. Recommended re-appointment of M/s Walker Chandiok & Co LLP, Chartered Accountants, as the Statutory Auditors of the Company for the second term for a period of five years to be effective from the conclusion of the 36 th Annual General Meeting ('AGM') of the Co
Slide 3: Annexure-A: Acquisition of shares in Kajaria Plywood
IND I A'S NO .1 TILE COMPANY Kajaria Annexure-A Details regarding acquisition of equity shares I investments in Kajaria Plywood Private Limited Sr. Particulars Details No. 1. Name of the target entity, details in brief such Kajaria Plywood Private Limited ('KPPL') as size, turnover etc. Turnover (Gr
Slide 4: Annexure-A: Acquisition details (continued)
INDIA'S N0.1 TILE COMPANY Kajaria 7. Nature of consideration - whether cash Cash consideration consideration or share swap and details of the same 8. Cost of acquisition or the price at which the The Company will acquire 2,09,000 equity shares are acquired shares of KPPL from the other shareholders
Slide 5: Independent Auditor's Report on Standalone Results
Walker Chandiok &_Co LLP Walker Chandlok & Co LLP L 41, Connaught Circus, Outer Circle, New Delhi · 110 001 India T +91 11 4500 2219 F +91 11 4278 7071 Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations an
Slide 6: Auditor's Report on Standalone Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd.) preventing and detecting frauds and other irregularities; s
Slide 7: Auditor's Report on Standalone Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Standalone Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (Cont'd.) • Obtain sufficient appropriate audit evidence regarding th
Slide 8: Audited Standalone Financial Results, Q4 and FY2022
Kajaria STATEMENT OF AUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2022 {!in crores__,__el<cept per share datal Quarter ended Year ended PARTICULARS 31 March 2022 31 December 2021 31 March 2021 31 March 2022 31 March 2021 (Audited) {Unaudited) {Audited) (Audited) (Audi
Slide 9: Audited Standalone Statement of Assets and Liabilities
Kaj~rl~ AUDITED _S_TANDALONE _STAJ_l;M!;NT9£ASSETS AND LIAl3_1LITIES _JI_S_ AT 31 MARCl::1_2022 (, m crores) As at As at PARTICULARS 31 March 2022 31 March 2021 /Audited) IAudited) ASSETS (1) Non-current assets (a) Property, plant and equipment 781.82 818.76 (b) Right-of-use assets 32.97 26.24 (c) C
Slide 10: Audited Standalone Statement of Cash Flows
Kajaria Audited Standalotie Statement of cash flows (f in crores) Year ended Year ended 31 March 2022 31 March 2021 lAuditedl /Audited I A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 485.05 412.81 Adjusted for : Depreciation and amortisation expense 84.16 80.58 Interest income (41.01) (34
Slide 11: Notes to Standalone Financial Results
Kajaria Notes: 1 The above standalone fin ancial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 17 May 2022. The statutory auditors have expressed an unmodified audit opinion on these results. 2 The above results have bee
Slide 12: Independent Auditor's Report on Consolidated Results
Walker Chandiok &..Co LLP Walker Chandiok & Co LLP L 41, Connaught Circus, Outer Circle, New Delhi· 110 001 India T +911145002219 F +91 11 4278 7071 Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and
Slide 13: Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd.) Responsibilities of Management and Those Charged with Gov
Slide 14: Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &.Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd.) • Evaluate the appropriateness of accounting policies use
Slide 15: Auditor's Report on Consolidated Results (cont'd)
Walker Chandiok &_Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd.) 13. The Statement includes the consolidated financial res
Slide 16: Annexure 1: List of entities included
Walker Chandiok &..Co LLP Independent Auditor's Report on Consolidated Annual Financial Results of the Company Pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd.) Annexure 1 List of entities included in the Statement Ho
Slide 17: Audited Consolidated Financial Results, Q4 and FY2022
Kajaria STATEMENT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2022 (~ in crores, except per share_data2 Quarter ended Year ended PARTICULARS 31 March 2022 31 December 2021 31 March 2021 31 March 2022 31 March 2021 (Audited) (Unaudited) (Audited) (Audited) (Audit
Slide 18: Audited Consolidated Statement of Assets and Liabilities
Kajfi!.t:!.~ AUDITED CONSOLIDATED STATEM_E]IIT OF ASSETS__AIIID_LLABILITJES AS A_T 31___M_8_RCH 2022 Asat As at PARTICULARS 31 March 2022 31 March 2021 /Audited) /Audited) (1} Non-current assets (a) Property, plant and equipment 1,099.83 1,152.40 (b) Right-of-use assets 38.92 28.79 (c) Capital work-
Slide 19: Audited Consolidated Statement of Cash Flows
Kajaria Audited Consolidated Statement of cash flows {f in crores) Year ended Year ended 31 March 2022 31 March 2021 /A.,,l"~•H /A , . .1:•-.J\ A. CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 510.17 412.74 Adjustments for : Depreciation and amortisation expense 115.36 106.67 Interest incom
Slide 20: Consolidated Segment Revenue, Results, Assets and Liabilities
Kajaria AUDITED CONSOLIDATED SEGMENT WISE REVENUE, RESULTS, ASSETS AND LIABILITll;S FOR THE _Q_UARTER AND YEAR ENDEQ~_1 MARCH 2022 ('1' in crores,except per share data) Quarter ended Year ended PARTICULARS 31 March 2022 31 December 2021 31 March 2021 31 March 2022 31 March 2021 (Audited) (Unaudited)
Slide 21: Notes to Consolidated Financial Results
Kajaria Notes: 1 The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 17 May 2022. The statutory auditors have expressed an unmodified audit opinion on these results. 2 The above resu lts have b
Slide 22: Extract of Audited Consolidated Financial Results
Kajaria EXTRACT OF AUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31 MARCH 2022 (t in crores except per share data) Quarter ended Year ended Sr 31 March 2022 31 December 2021 31 March 2021 31 March 2022 31 March 2021 Particulars No (Audited) (Unaudited) (Audited) (Audited) (Au
Slide 23: Additional Disclosure under Regulation 52(4) - Standalone
INDIA'S N0.1 TILE COMPANY Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52 (4) OF THE SEBI (LODR) REGULATIONS, 2015 For the Year ended March 31, 2022 (Standalone): 1. Credit Rating and Change in Credit rating (if any) : Kept at the same level for both Long term and non-fund based And unsecured loan
Slide 24: Additional Disclosure under Regulation 52(4) - Consolidated
INDIA'S N0.1 TILE COMPANY Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52 (4) OF THE SEBI (LODR) REGULATIONS, 2015 For the Year ended March 31, 2022 (Consolidated): 1. Credit Rating and Change in Credit rating (if any) : Kept at the same level for both Long term and non-fund based and unsecured lo
Slide 25: Kajaria Ceramics Limited – Q4 FY22
KAJARIA CERAMICS LIMITED Investor Update – Q4 FY22 May 17, 2022 1/16
Slide 26: Content
Content Chairman’s Message Financial Performance – Q4 FY22 Subsidiaries Income Statement Shareholding Pattern 2/16 Investor Update Q4 FY22
Slide 27: Chairman's Message
Chairman’s Message Against a backdrop of geopolitical volatility and high commodity prices, the company has posted highest sales volume of 91.65 MSM (growth of 21% YoY) with record revenues Rs.3,705 cr (growth of 33% YoY) for the financial year ended 2022. In Q4FY22, our volumes grew by 2% to 25.97
Slide 28: Tile Volume Data (consolidated)
Tile VolumeData (consolidated) Production Growth (MSM) - Q4 FY22 Production Growth (MSM) - FY22 20 70 68.37 18.23 17.27 60 16.05 3.80 4.49 51.86 15 50 10.89 40 10 30 13.47 13.74 52.32 5 20 40.97 10 0 0 Q4 FY21 Q4 FY22 FY21 FY22 Own Manufacturing Subsidiaries Own Manufacturing Subsidiaries Sales Grow
Slide 29: Revenue Growth - consolidated
Revenue Growth - consolidated Rs. / Crores 1400 3705.19 4000 66.05 1200 275.74 1101.75 19.23 2780.90 952.51 82.66 Plywood 3000 1000 39.15 893.64 Plywood 15.34 209.00 71.31 Sanitary ware / Sanitary ware / Faucets 297.33 Faucets 800 213.62 Outsourcing (Tiles) 561.33 509.43 Outsourcing (Tiles) 2000 143
Slide 30: Profitability - Consolidated
Profitability - Consolidated PBT Rs. / Crores PAT 200 150 169.20 127.09 160 136.37 95.76 100 120 80 50 40 0 0 Q4 FY21 Q4 FY22 Q4 FY21 Q4 FY22 400 376.98 510.17 500 308.05 412.74 300 400 300 200 200 100 100 FY21 FY22 FY21 FY22 6/16 Investor Update Q4 FY22 Refer Slide 14 for detailed IncomeStatement
Slide 31: EBITDA / EBITDA Margin (consolidated) – quarterly progression
EBITDA / EBITDA Margin (consolidated) – quarterly progression 200 20% 175 20.04% 18.54% 150 17.21% 15% 125 15.06 14.32% Rs./ Crores 100 190.93 180.49 183.84 10% 165.94 75 50 5% 80.42 25 0 0% Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 Q4 FY22 EBITDA (Rs. / Crores) EBITDA Margin (%) 7/16 Investor Update Q4 FY22
Slide 32: Key Ratios (consolidated): Net Debt
Key Ratios(consolidated)………… Net Debt (Rs. Crore) * Net Debt Equity(X) * 200 0.20 100 0.10 0 Mar-19 Mar-20 Mar-21 Mar-22 -100 0.00 -132 -107 Mar-19 Mar-20 Mar-21 Mar-22 -200 -0.06 -0.10 -0.08 -300 -400 -349 -373 -0.17 -0.20 -0.18 -500 * Net of cash and cash equivalents 8/16 Investor Update Q4 FY22
Slide 33: Key Ratios (consolidated): Working Capital and ROE
Key Ratios(consolidated) Working Capital (Rs. Crore) Return on Equity (Avg.) 600 513 513 475 432 466 400 406 397 373 309 298 200 239 30 207 0 Mar-19 Mar-20 Mar-21 Mar-22 20 Debtors Inventory Creditors 18.89 17.19 15.49 15.53 120 Working Capital (Days) 10 80 73 57 52 50 0 40 Mar-19 Mar-20 Mar-21 Mar-
Slide 34: Subsidiaries
Subsidiaries A. KAJARIA VITRIFIED (Formerly known as Jaxx Vitrified Pvt. Ltd.) Kajaria Vitrified Pvt. Ltd. is based in Morbi (Gujarat). Kajaria has 87.37% stake in the same. The company has commissioned 4.40 MSM new capacity of polished vitrified tiles at the same site in April 2022, which has incre
Slide 35: Subsidiaries
Subsidiaries D. KAJARIA TILES PRIVATE LIMITED (KTPL) Kajaria Tiles (a wholly owned subsidiary) has a manufacturing facility of glazed vitrified tiles with a capacity of 5.00 MSM p.a. in Andhra Pradesh. KTPL has been merged with Kajaria Ceramics Ltd. vide NCLT order dated 22 December, 2021 (w.e.f. 1s
Slide 36: Ongoing projects - update
Ongoing projects - update A. Gailpur Plant (Rajasthan) The company has commissioned 4.20 MSM of ceramic floor tiles capacity at its Gailpur location in the month of May 22. B. Srikalahasti Plant (Andhra Pradesh) The company has commissioned capacity of 3.80 MSM of value added glazed vitrified tiles
Slide 37: Ongoing projects - update
Ongoing projects - update E. Kajaria Ultima Pvt. Ltd. (Gujarat) In the previous quarter, we had announced the organic expansion of 5 MSM of slab manufacturing capacity in Gujarat with planned investment of Rs.210 crore. Today, the Board has decided to withdraw the proposed investment as project has
Slide 38: Income Statement: Financial highlights
Income Statement Financial highlights (Rs / Crores) Q4 FY22 Q4 FY21 Growth FY 22 FY 21 Growth Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Net Sales 987.00 1101.75 859.26 952.51 15% 16% 3299.38 3705.19
Slide 39: Shareholding Pattern
Shareholding Pattern As on 31st Mar. 2022 Equity Shares Outstanding – 159.20 millions Shareholding 13.63% Public / Others NRI's 0.40% Promoters 47.50% 38.47% FIs /FPIS / Mutual Funds 15/16 Investor Update Q4 FY22
Slide 40: About Us
About Us Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 8th* largest in the world. It has present annual capacity of 82.80 mn. sq. meters presently, distributed across eight plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur, one at Malootana in Ra