Jyothy Labs Limited · NSE:JYOTHYLAB
Jyothy Labs — Q2 FY2024 Earnings Presentation
30 slides from Jyothy Labs's earnings presentation, Nov 7, 2023
Slide 1: Exchange filing cover letter: Copy of Presentation
November 7, 2023 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Bandra – Kurla Complex, Dalal Street, Mumbai - 400023 Bandra (E), Mumbai - 400051 BSE Code: 532926 Scrip Code: JYOTHYLAB Dear Sirs, Sub: Copy of Presentation With reference to the cap
Slide 2: Jyothy Labs
Slide 3: Stronger than ever! Q2FY24
Stronger than ever! Q2FY24 November 7, 2023 2
Slide 4: Content Flow
Content Flow 01. Overview 03. Result Highlights 05. Way forward 04. Brand Performance 02. Market Scenario & Initiatives 3
Slide 5: Overview
OVERVIEW • Founded in 1983 by a first generation entrepreneur, our ‘Chairman Emeritus’ Mr. MP Ramachandran. ~Rs 2486 cr Revenue in FY 2023 • Jyothy Labs is primarily in Home Care and Personal Care 2.8 Mn Outlets – Pan India availability segments which constitute 50% of the Indian FMCG industry. 1.1
Slide 6: Market Scenario
MARKET SCENARIO • Business Environment : • Stable domestic demand • Healthy Growth across all channels • Raw Material prices normalising over previous year • Focus on brand investments, product innovations and geographical expansion • Increased competitive intensity to drive volume growth 5
Slide 7: Result Highlights – Q2FY24 Snapshot (Consolidated)
RESULT HIGHLIGHTS – Q2FY24 SNAPSHOT (CONSOLIDATED) Revenue at Rs 732 Crores increased by 11.1% (CAGR - 2 Yr 11.9%, 3 Yr 13.2%, 4 Yr 11.4%) Gross Margin at 49.2% from 40.5% in the same period last year A&P Spend at 57.4 Crores (7.8% of Net Sales) versus Rs 41.5 Crores (6.3% of Net Sales) in the same
Slide 8: Result Highlights – H1FY24 Snapshot (Consolidated)
RESULT HIGHLIGHTS – H1FY24 SNAPSHOT (CONSOLIDATED) Revenue at Rs 1,419 Crores increased by 13% Gross Margin at 48.6% from 40.2% in the same period last year A&P Spend at 107.8 Crores (7.6% of Net Sales) versus Rs 86.6 Crores (6.9% of Net Sales) in the same period last year, an increase by 24.5% Oper
Slide 9: Performance Across Categories
PERFORMANCE ACROSS CATEGORIES Growth (%) Q2FY24 10.6% 10.0% 22.3% 3.4% Q2FY24 21.6% 7.8% 16.4% -15.3% (2Y CAGR) Q2FY24 22.8% 9.4% 12.6% -9.3% (3Y CAGR) Q2FY24 13.1% 12.8% 13.1% -2.2% (4Y CAGR) H1FY24 14.1% 10.3% 21.7% 6.8% 8
Slide 10: Snapshot of Company's Performance (Consolidated)
SNAPSHOT OF COMPANY’S PERFORMANCE (CONSOLIDATED) QUARTER ENDED HALF YEAR ENDED PARTICULAR/GROWTH CY PY % CHANGE CY PY % CHANGE REVENUE FROM OPERATION 732 659 11.1% 1,419 1,256 13.0% OPERATING EBITDA 135.4 80.4 68.3% 252.8 140.3 80.2% PAT 104 65.4 59.1% 200.2 113.1 77.1% Financial Parameters QUARTER
Slide 11: Financial Highlights (Consolidated)
FINANCIAL HIGHLIGHTS (CONSOLIDATED) Net Worth (Rs in crores) 1,750 1,639 1,465 1,549 1,500 1,250 1,000 Operating working capital in days 30 28 750 500 25 250 20 0 15 13 Sep-22 Mar-23 Sep-23 10 5 50% ROE 47.0% 5 40% 35.6% 0 31.4% 30% Sep-22 Mar-23 Sep-23 24.4% 20% 15.4% 15.5% 10% 0% Sep-22 Mar-23 Sep
Slide 12: EBITDA Movement (Consolidated)
EBITDA MOVEMENT (CONSOLIDATED) PARTICULARS Q2FY24 H1FY24 EBITDA % - PREVIOUS PERIOD 12.2% 11.2% GROSS MARGIN 8.7% 8.4% EMPLOYEE COST 0.1% -0.1% ADVERTISEMENT & SALES PROMOTION -1.5% -0.7% OTHER EXPENDITURE -0.9% -0.9% EBITDA % - CURRENT PERIOD 18.5% 17.8% 11
Slide 13: Brand Performance & Initiatives
BRAND PERFORMANCE & INITIATIVES 12
Slide 14: Category Wise Business Share
13 Fabric Care (Main wash) 32% Q2 FY 2024 Fabric Care (Post wash) 11% Category Wise Dish Wash Other Business Share 35% 4% HI 6% Personal Care 12% 13
Slide 15: Category Approach & Q2 FY24 Results
Category Approach & Q2 FY24 Results Fabric Care Household Dish Wash Personal Care Insecticide Leverage Margo brand Consolidate and Stay focussed on value Strengthen equity on equity and enter new FY24 innovate to increase offering in detergents & brands further to become formats/categories. market s
Slide 16: Fabric Care: Ujala (Post Wash & Detergent)
FABRIC CARE: UJALA (POST WASH & DETERGENT) Ujala Supreme Ujala Detergent Ujala Crisp & Shine ATL campaign featuring Superstar Taapsee Pannu aired across key markets. ATL campaign featuring Thrust on gaining share Superstar Manju Warrier in low market share aired in key markets. ATL campaign featurin
Slide 17: Fabric Care: Henko
FABRIC CARE: HENKO Henko • ATL media campaign featuring Superstar Kajal Aggarwal aired in key markets for ‘Henko Stain Care’ and ‘Henko Matic’. • Continued drives on smaller packs to generate trials. • Focus on BTL activities to drive consumer engagement & visibility. 16
Slide 18: Fabric Care: Henko Detergent Powder & Liquid
FABRIC CARE: HENKO DETERGENT POWDER & LIQUID Use of OOH advertising to drive visibility in high footfalls areas. Driving high visibility in retail. Consistent and targeted advertising in Ecom New SKU launch for specific markets. Sampling initiatives across markets Consistent use of social media to i
Slide 19: Fabric Care: Mr.White and Morelight
FABRIC CARE: MR.WHITE AND MORELIGHT Continued emphasis on driving distribution aimed at increasing presence in the mass category detergent powder segment. Local trade engagement initiatives in GT/MT and promotions to drive trials on ecommerce were carried out. 18 18
Slide 20: Dishwash: Exo Bar
DISHWASH: EXO BAR Strengthening the brand in Key Increased consumer Geographies through Multi- acceptance in LUP’s media approach With the aim of Consistent drive on LUP increasing the pull has enabled to get good on the brand, Exo traction has been investing Value Market Share* across outdoor media
Slide 21: Dishwash: Pril
DISHWASH: PRIL LUP enabling on- Bigger packs are Pril Tamarind – Growth boarding new consumers enabling to drive driver in MT in General Trade (‘GT’) stronger growths in Modern Trade (‘MT’) Large pack driving Our focused drives growth in MT helping LUP’s Owing to superior onboarding new response, Pr
Slide 22: Dishwash: Out of Home Activations
DISHWASH: OUT OF HOME ACTIVATIONS OUT-OF-HOME Large packs grew at high Winning in Multi- teens in MT channel environment OUT-OF-HOME ACTIVATION SCHOOL 21
Slide 23: Household Insecticide: Maxo Liquid & Coil
HOUSEHOLD INSECTICIDE: MAXO LIQUID & COIL • Liquid Vaporiser registered a positive growth with the continued focus on distribution and consumer engagement activities. • Coil overall stayed positive in H1 despite dry August month receiving 36% less rainfall than usual. • ATL & BTL campaigns were depl
Slide 24: Maxo Genius - New Campaign
MAXO GENIUS - NEW CAMPAIGN NEW BRAND IDENTITY NEW BRAND AMBASSADOR STRONG PROPOSITION y MAXO| @ . MAXO GENIUS No Button. Automatic. AUTO ATTACK ‘AUTO PROTECT For stant Vapour Blast For Sustained Protection. AUTOMATIC MAX PROTECTION INTELLICHIP 23
Slide 25: Personal Care
PERSONAL CARE Margo • Brand investments across mediums (ATL & Social) promoting & advocating the campaign featuring Superstar Raashi Khanna, propagating Margo as “Ek Aachi Aadat (A good habit)’’ and benefits of Neem helped brand register a strong growth in Q2 FY24. • Special emphasis on targeted use
Slide 26: The confidence of celebrities on Jyothy Brands!
The confidence of celebrities on Jyothy Brands! 25 25
Slide 27: Way Forward
WAY FORWARD • Continued focus on Volume Led Growth to achieve Higher Scale of Business operations • Investment towards strategic brand building and direct distribution as it is a critical source of competitive advantage and barrier to entry • Focus on volume growth and market share gains • Overall,
Slide 28: Shareholding Pattern
SHAREHOLDING PATTERN As on 30 September 2023 FII 15.10% DII 14.82% Promoter and Promoter Group 62.89% Public 7.19% FII DII Public Promoter and Promoter Group 27
Slide 29: Disclaimer
DISCLAIMER Some of the statements in this communication may be forward looking statements within the meaning of applicable laws and regulations. Actual results might differ substantially from those expressed or implied. Important developments that could affect the Company’s operations include change
Slide 30: Thank You
THANK YOU Contact for any queries Sanjay Agarwal – CFO Email: Sanjay.Agarwal@Jyothy.com Contact No: +91 22 6689 2800/+91 9167012328 29