Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q4 FY2020 Earnings Presentation
38 slides from Pidilite Industries's earnings presentation, Jun 18, 2020
Slide 1: Exchange filing cover letter: Investor Update
18th June, 2020 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 Co
Slide 2: Investor Update: Quarter and year ended March 2020
Pidilite Industries Limited Investor Update Quarter and year ended March 2020 Financial Highlights Coverage Consolidated Standalone Particulars Quarter Year Quarter Year Financial Highlights Ended Ended Ended Ended Business segment wise results Mar’20 Mar’20 Mar’20 Mar’20 Overseas subsidiaries
Slide 3: Financial Highlights
Financial Highlights January – March 2020 Consolidated Performance as compared to the same quarter last year: Net sales declined by 5.9%. Material cost as a % to net sale is lower by 505 Bps vs same period last year and 155 Bps vs previous quarter. EBITDA before non-operating income grew by 8.
Slide 4: Business Segment Wise Performance – Standalone
+ Exceptional items represents impairment loss on plant and machinery at Dahej Elastomer Project amounting to Rs. 33 Cr for current quarter and Rs. 55 Cr for current year and impairment in value of investments of a subsidiary amounting to Rs. 4 Cr for current quarter. Business Segment Wise Performan
Slide 5: Overseas and domestic subsidiaries performance
Rs Crores Subsidiary in Bangladesh reported higher sales and EBITDA growth for the quarter. Sales for subsidiaries in Sri Lanka, USA and Brazil got severely impacted in March 2020 due to lockdown in respective geographies. For full year, good sales growth and EBITDA across subsidiaries except fo
Slide 6: Subsidiary updates, Pepperfry investment and Tenax acquisition
Nina percept and Cipy continue to face a challenging market conditions in wake of economic slowdown in Real Estate, Auto and Engineering Industry. This was further impacted due to COVID 19 conditions. During the quarter, Company through its subsidiary Madhumala Ventures Pvt. Ltd made an investme
Slide 7: Statement of Standalone Financial Results
REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalai Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 PIDILITE INDUSTRIES LIMITED Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor relations@piailite.co.in STATEMENT OF STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 31
Slide 8: Standalone segment results
oh For the Quarter ended Forthe Year ended No. 3122018 Saas 303200 Tas v Unaudited ‘Audited Autited 00303 1208.1 1043.88 490082 481785 33323 425 3018 137787 1300.52 1512 2157 2128 7845 80.88 THE Tea2.13 Teta Gea Bre 26.00 3201 12155 12335 SELES dX) TT 28320 410 2434 153140 141691 TaE0 57.06 5181 274
Slide 9: Standalone Balance Sheet
Rs Crores = As at As at No | Patticulars 31.03.2020] 34.03.2018] Audited] AL ASSETS 1] Non Current Assets 2) Property. Plant and Equipment 801.24 067.62 &) Right of Use Assets 108.15 % ©) Capital Work-in-Progress 247.64 22008 () Goodwat 26.11 26.11 fe) Other intangible Assets 122.08 196.93 a Financi
Slide 10: Standalone Statement of Cash Flows
STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31.03.2020 Rs Crores For the year ended 5 31.03.2020 34.03.2019 Leora Audited Audited| [A] Cash Flows from Operating Activities Profit before tax 1,436.95 1,376.45 [Adjustments for: Finance costs recognised in Statement of Profit and Loss 13.40 7
Slide 11: Standalone Cash Flows: Investing and Financing
B] Cash Flows from Investing Activities Payments for purchase of Property, Plant and Equipment, Other Intangible Assets & (41381) (201.40) Capital Work-In-Progress Proceeds from disposal of Property, Plant and Equipment & Other Intangible Assets 20.98 42.19 Net Cash outflow on acquisition / Investme
Slide 12: Notes to the Standalone Financial Results
Notes to the Standalone Financial Results: “4. The above results have been reviewod bythe Audit Commitee and approved by the Board of Diractors attheir respective mestings held on 417th June 2020. 2. The Company has opted to publish Standalone as well as Consolidated Financial Results. "3. The fmanc
Slide 13: Statement of Consolidated Financial Results
PIDILITE INDUSTRIES LIMITED REGO. OFFICE : 7th Floor, Regent Chambers, Jamnaia! Baja Mary, 208, Narman Point, Mumbai - 400 02+ ‘Tel No. $1 222635 7000 Fax: 91 222835 6007 mat acdress : investor reatons@oditteco1n Website : www pidite.com CIN :L24100MH195SPLC014336 STATEMENT OF CONSOLIDATED FINANCIAL
Slide 14: Consolidated Segment Information
= CONSOLIDATED SEGMENT INFORMATION FOR THE GUARTER AND YEAR ENDED 31.03.2020 Rs Crores beni For the Quarter endea For the Year ended Wo. EMER) EIRFEOE ESREECIE EEE) EVE ‘Unauated Unauatted’ Unaudited ‘Audited ‘uted. T [Segment Revenue la} Consumer & Bazaar 112637 147828 19752 Se7385 seigts fo) Busin
Slide 15: Consolidated Balance Sheet
Rs Crores feat asa [sro] Pardeuiars 31.033 1.03201 Audited Audited a ASSETS 1] Non Current Assets (@) Property, Pent and Equipment sage ©) Right Use Assets (©) Goptal Workin Progress 20213 (Goode 18509 ©) Other tangite Assets 24920 )—_Invesements secourted for using equty method 2443 (G) Financial A
Slide 16: Consolidated Statement of Cashflow
a CONSOLIDATED STATEMENT OF CASHFLOW FOR THE YEAR ENDED 31.03.2020 Rs Crores For the Year ended 31.03.2020] 31.03.2019 Audited Audited [A] Cash Flows from Operating Activities Profit before tax 1,469.78 1,341.62 |Adjustments for: [Share of profit from Associate 3.03)] (3.60)| Finance costs recognise
Slide 17: Consolidated Cash Flows: Investing and Financing
IE] Cash Flows from Investing Activities |Payments for purchase of Property, Plant and Equipment, Other intangible Assets & (467.12)| (26252) |Capital Work-In-Progress |Proceeds from disposal of Property, Plant and Equipment & Other Intangible Assets 23.20 877 [Payments to purchase Investments (1,43
Slide 18: Notes to the Consolidated Financial Results
Notes to the Consoldated Financial Resuts: 1. The above results have been reviewed by the Audt Committee and approved by the Board of Directors a ther respective meetings held on 17th June 2020. 2. The Company has opted to publish Standalone as well as Consolidated Financial Resuts. The above resuit
Slide 19: Pidilite Industries Ltd. Q4 FY20
Pidilite Industries Ltd. Q4 FY20 Earnings Presentation
Slide 20: 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 21: Financial Highlights
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Slide 22: Q4 FY20 Earnings Summary
Q4 FY20 Earnings Summary * EBITDA is before non operating income, PBT is Profit before tax and Exceptional Items **Standalone PAT grew by 3.4% excluding exceptional items towards impairment in value of plant and machinery at Dahej Elastomer Project (Rs 33 Cr) and impairment in value of investments o
Slide 23: FY20 Earnings Summary
FY20 Earnings Summary * EBITDA is before non operating income, PBT is Profit before tax and Exceptional Items ## Standalone PBT grew by 12.7%, excluding exceptional items towards impairment in value of plant and machinery at Dahej Elastomer Project (Rs 55 Cr) and impairment in value of investments o
Slide 24: Comments on Financial Performance
Comments on Financial Performance Standalone • Net Sales declined by 4.3% in Q4. • Material cost as a % to net sales is lower by 471 Bps over same period last year and 192 Bps vs previous quarter. • EBITDA, before non-operating income, at Rs 286 Cr grew by 8.4% over the same period last year on acco
Slide 25: Q4 FY20 Overseas Subsidiaries Performance
Q4 FY20 Overseas Subsidiaries Performance (in INR Crores) Bangladesh Sales: 30.0 (PY: 24.3) EBITDA: 5.6 (PY: 4.2) North America Thailand Sales: 22.6 (PY: 26.4) EBITDA:(6.8) (PY: (0.2)) Sales: 14.6 (PY: 15.1) EUR EBITDA: 1.4 (PY: 1.3) Sri Lanka South America Sales: 8.5 (PY: 8.6) EBITDA: 0.2 (PY: (0.1
Slide 26: FY20 Overseas Subsidiaries Performance
FY20 Overseas Subsidiaries Performance (in INR Crores) Bangladesh Sales: 119.2 (PY: 99.1) EBITDA: 18.4 (PY: 17.1) North America Thailand Sales: 113.7 (PY: 105.0) EBITDA: (0.4) (PY: 1.4) Sales: 60.7 (PY: 63.1) EUR EBITDA: 5.1 (PY: 4.0) Sri Lanka South America Sales: 41.5 (PY: 35.0) EBITDA: 2.9 (PY: (
Slide 27: Q4FY20 Domestic Subsidiaries Performance
Q4FY20 Domestic Subsidiaries Performance 80 72.1 70.0 Sales (in INR Crores) 60 Q4, FY 2018-19 43.1 39.2 42.1 40 30.9 Q4, FY 2019-20 18.4 15.3 20 0 Nina Percept Pvt ICA Pidilite Pvt Ltd Cipy Polyurethane Others Ltd Pvt Ltd 10 8.8 8 6.4 6 Q4, FY 2018-19 4.0 4 2.6 2.5 2.0 2 Q4, FY 2019-20 - EBITDA (2)
Slide 28: FY20 Domestic Subsidiaries Performance
FY20 Domestic Subsidiaries Performance 350 304.8 Sales (in INR Crores) 300 267.8 250 FY 2018-19 200 185.8 168.3 155.4 FY 2019-20 150 121.4 100 64.1 61.1 50 0 Nina Percept Pvt ICA Pidilite Pvt Ltd Cipy Polyurethane Others Ltd Pvt Ltd 40 34.1 30 24.1 FY 2018-19 20.9 20 EBITDA 15.4 FY 2019-20 11.5 10 5
Slide 29: Company Overview
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Slide 30: Company Overview
Company Overview Brand established in 1959. 9 Regional offices with 26 plants and Pioneer in Consumer and 25 co-makers in India Specialty Chemicals • International manufacturing Adhesives & sealants, facilities in USA, Thailand, Dubai, construction chemicals, art & Brazil, Egypt, Singapore, Banglade
Slide 31: Industry Segment Composition
Industry Segment Composition 6.4% 6.2% Industrial Resins, Construction Pigment & Preparations chemicals (Project) etc. 1.4% Others 6.1% Industrial Adhesives 8.1% Art & Craft Materials etc. 52.6% Adhesives & 19.2% Sealants Construction & Paint Chemicals Consumer & Bazaar Products Business to Business
Slide 32: Domestic Presence – India operations
Domestic Presence – India operations • SKUs of products • distributors • Domestic Revenue of for • warehouses FY20 • regional offices & RDCs • plants, Co-makers Pidilite Industries Limited 14
Slide 33: Global Presence
Global Presence • • • • • • Pidilite Industries Limited 15
Slide 34: 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-
Slide 35: Shareholding Pattern as of March 31, 2020
Shareholding Pattern as of March 31, 2020 15.19% Promoters Mutual Funds 11.50% FPIs 3.39% 69.92% Others Pidilite Industries Limited 17
Slide 36: Share Price Movement
Share Price Movement Pidilite Sensex 140 130 120 110 100 90 80 Rebased to 100 Pidilite Industries Limited 18
Slide 37: Backed by consistent dividend payouts
Backed by consistent dividend payouts 50% 40.6% 40% 38.4% 38.9% 33.1% 33.8% 30% 20% 10% 0% FY16 FY17 FY18 FY19 FY20 Pidilite Industries Limited 19
Slide 38: 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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