Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q2 FY2021 Earnings Presentation
39 slides from Pidilite Industries's earnings presentation, Nov 6, 2020
Slide 1: Investor Update cover letter to exchanges
Pidilite eh November, 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, Dalai Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400 051 Stock Code - 5003
Slide 2: Investor Update: Quarter and half year ended September 2020
Pidilite Industries Limited Investor Update Quarter and half year ended September 2020 Financial Highlights Coverage Consolidated Standalone Financial Highlights Particulars Quarter Half Year Quarter Half Year Business segment wise results Ended Ended Ended Ended Overseas subsidiaries performa
Slide 3: Financial Highlights July – September 2020
Financial Highlights July – September 2020 Consolidated Performance as compared to the same quarter last year: Net sales grew by 3.4%. Material cost as a % to net sales is lower by 226 Bps vs same quarter last year and 216 Bps vs previous quarter. EBITDA before non-operating income grew by 39.
Slide 4: Business Segment Wise Performance – Standalone
Business Segment Wise Performance – Standalone (On a comparable basis) Rs Crores Sr. PARTICULARS Quarter Ended Half Year Ended No Sep'20 Sep'19 Growth Sep'20 Sep'19 Growth 1 Segment Revenue a) Consumer & Bazaar Products C&B) 1,328.2 1,238.6 7.2% 1,940.2 2,666.6 -27.2% b) Business to Business (B2B) 3
Slide 5: Overseas subsidiaries performance
Overseas subsidiaries performance The Company has 20 overseas subsidiaries (6 direct and 14 step-down) and one joint venture, including those having manufacturing and selling operations in USA, Brazil, Thailand, Dubai, Egypt, Sri Lanka, Bangladesh and Kenya. International subsidiaries have repor
Slide 6: Statement of Standalone Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF STANDAL
Slide 7: Standalone Segment Information
---- 2 ---- STANDALONE SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2020 Rs Crores For the Quarter ended For the Six Months ended For the Year ended Sr. Particulars No. 30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020 Unaudited Unaudited Unaudited Unaudited Unaudit
Slide 8: Standalone Statement of Assets and Liabilities
---3--- STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2020 Rs Crores As at As at Sr Particulars 30.09.2020 31.03.2020 No Unaudited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 894.97 861.24 (b) Right of Use Assets 100.36 109.15 (c) Capital Work-In-Progress 289
Slide 9: Standalone Statement of Cash Flows
---4--- STANDALONE STATEMENT OF CASH FLOWS FOR SIX MONTHS ENDED 30.09.2020 Rs Crores For the Six Months ended 30.09.2020 30.09.2019 Particulars Unaudited Unaudited A] Cash Flows from Operating Activities Profit before tax 531.90 778.28 Adjustments for: Finance costs recognised in Statement of Profit
Slide 10: Notes to the Standalone Financial Results
---- 5 ---- Notes to the Standalone Financial Results: 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 4th November 2020. 2. The Statutory Auditors have carried out a "Limited Review" of the above financials r
Slide 11: Statement of Consolidated Financial Results
PIDILITE INDUSTRIES LIMITED REGD. OFFICE : 7th Floor, Regent Chambers, Jamnalal Bajaj Marg, 208, Nariman Point, Mumbai - 400 021 Tel No. 91 22 2835 7000 Fax : 91 22 2835 6007 Email address : investor.relations@pidilite.co.in Website : www.pidilite.com CIN : L24100MH1969PLC014336 STATEMENT OF CONSOLI
Slide 12: Consolidated Segment Information
---- 2 ---- CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER AND SIX MONTHS ENDED 30.09.2020 Rs Crores For the Year For the Quarter ended For the Six Months ended Sr. Particulars ended No. 30.09.2020 30.06.2020 30.09.2019 30.09.2020 30.09.2019 31.03.2020 Unaudited Unaudited Unaudited Unaudited Unaud
Slide 13: Consolidated Statement of Assets and Liabilities
---3--- CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 30.09.2020 Rs Crores As at As at Sr No Particulars 30.09.2020 31.03.2020 Unaudited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1,166.12 1,141.95 (b) Right of Use Assets 138.44 147.00 (c) Capital Work-In-Progre
Slide 14: Consolidated Statement of Cashflows
---4--- CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE SIX MONTHS ENDED 30.09.2020 Rs Crores For the Six Months ended 30.09.2020 30.09.2019 Unaudited Unaudited A] Cash Flows from Operating Activities Profit before tax 510.07 793.14 Adjustments for: Share of profit from Associate (1.08) (1.35) Finance c
Slide 15: Notes to the Consolidated Financial Results
---- 5 ---- Notes to the Consolidated Financial Results: 1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 4th November 2020. 2. The Statutory Auditors have carried out a "Limited Review" of the above financials
Slide 16: Pidilite Industries Ltd. Q2 FY21
Pidilite Industries Ltd. Q2 FY21 Earnings Presentation
Slide 17: 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 18: Financial Highlights
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Slide 19: Q2 FY21 Earnings Summary
Q2 FY21 Earnings Summary Net Sales EBITDA * PBT* PAT Standalone Rs 1,620 Cr Rs 473 Cr Rs 455 Cr Rs 339 Cr 4.5% YoY Growth 3.7% 34.5% 21.7% ** Consolidated Rs 1,857 Cr Rs 514 Cr Rs 479 Cr Rs 357 Cr 9.7% YoY Growth 3.4% 39.3% 27.1% ** * EBITDA is before non operating income. PBT is Profit before tax a
Slide 20: H1 FY21 Earnings Summary
H1 FY21 Earnings Summary Net Sales EBITDA * PBT* PAT Standalone Rs 2,388 Cr Rs 570 Cr Rs 532 Cr Rs 396 Cr - 35.3% YoY Growth -28.3% -26.0% - 33.5% ** Consolidated Rs 2,730 Cr Rs 582 Cr Rs 510 Cr Rs 372Cr -39.9% YoY Growth - 28.2% -28.5% -37.4% ** * EBITDA is before non operating income. PBT is Profi
Slide 21: Comments on Financial Performance
Comments on Financial Performance Standalone • Net Sales grew by 3.7% over same quarter last year. • Material cost as a % to net sales is lower by 283 Bps over same quarter last year and 200 Bps v.s previous quarter. • EBITDA, before non-operating income, at Rs 473 Cr, grew by 34.5% over the same qu
Slide 22: Q2 FY21 Overseas Subsidiaries Performance
Q2 FY21 Overseas Subsidiaries Performance (in INR Crores) Sales 56.4 56.8 Sales 81.2 53.5 Asia EBITDA Americas 8.8 6.2 EBITDA 29.2 # Asia 3.3 Americas Sales EBITDA 38.0 38.5 (2.3) (1.4) Middle East and Africa Middle East and Africa # Including tax gain pertaining to earlier years in CY in Americas o
Slide 23: H1 FY21 Overseas Subsidiaries Performance
H1 FY21 Overseas Subsidiaries Performance (in INR Crores) Sales 115.3 87.0 Sales 104.1 119.1 Asia EBITDA Americas 12.8 10.3 EBITDA 30.7 # Asia 7.1 Americas Sales 75.9 EBITDA 65.0 (3.5) (4.4) Middle East and Africa Middle East and Africa # Including tax gain pertaining to earlier years in CY in Ameri
Slide 24: Q2 FY21 Domestic Subsidiaries Performance
Q2 FY21 Domestic Subsidiaries Performance (in INR Crores) Sales 80 60 55.7 45.9 46.4 Q2, FY 2019-20 40 35.9 Q2, FY 2020-21 24.8 21.9 18.8 20 13.7 0 Nina Percept Pvt Ltd ICA Pidilite Pvt Ltd Cipy Polyurethane Pvt Others Ltd 17 11.2 12 EBITDA 7.1 7 Q2, FY 2019-20 2.4 3.0 1.2 2 Q2, FY 2020-21 (3) (1.6)
Slide 25: H1 FY21 Domestic Subsidiaries Performance
H1 FY21 Domestic Subsidiaries Performance 140 (in INR Crores) 119.1 Sales 120 H1, FY 2019-20 99.3 100 H1, FY 2020-21 80 58.1 56.6 60 43.4 40 30.5 26.4 24.6 20 0 Nina Percept Pvt Ltd ICA Pidilite Pvt Ltd Cipy Polyurethane Pvt Ltd Others 15 12.3 H1, FY 2019-20 10 H1, FY 2020-21 4.6 5.4 6.0 EBITDA 5 3.
Slide 26: Pidilite has Acquired 100% stake in Huntsman Advanced Material Solutions
Pidilite has Acquired 100% stake in Huntsman Advanced Material Solutions • On 3rd November 2020, Pidilite has completed the acquisition of 100% stake in Huntsman Advanced Materials Solutions Private Limited (HAMSPL) for a cash consideration of approximately Rs. 2100 crores, excluding customary worki
Slide 27: Company Overview
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Slide 28: Company Overview
Company Overview Brand established in 1959. 9 Regional offices with 26 plants and Pioneer in Consumer and 31 co-makers in India Specialty Chemicals • International manufacturing Adhesives & sealants, facilities in USA, Thailand, Dubai, construction chemicals, art & Brazil, Egypt, Bangladesh, Sri Lan
Slide 29: 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 79.9% Consumer & Bazaar Products 18.7% Business
Slide 30: 4-Year Performance by Business Segments
4-Year Performance by Business Segments Numbers represent Percentage of Total Sales Consumer and Bazaar (C&B) Business to Business (B2B) B2B includes Others also 81% 24% 22% 21% 22% 80% 20% 20% 80% 80% 20% 18% 79% 79% 16% 78% 14% 78% 12% 77% 10% 2016-17 2017-18 2018-19 2019-20 2016-17 2017-18 2018-1
Slide 31: Domestic Presence – India operations
Domestic Presence – India operations • 6000+ SKUs of 600+ products • 4,700+ distributors • Domestic Revenue of Rs. 5,638 Cr for • 30 warehouses FY20 • 9 regional offices & 2 RDCs • 26 plants, 31 Co-makers Pidilite Industries Limited 16
Slide 32: Global Presence
Global Presence • Exports to more than 80 countries. Major exports to Middle East, SAARC, Africa, USA & Europe. • Export Revenue of Rs. 695 Cr in FY20. • 20 Overseas subsidiaries – 6 Direct and 14 Step down. 1 Joint Venture. • Total revenue from Overseas subsidiaries of Rs. 575 Cr in FY20. • Interna
Slide 33: Connecting users and dealers via digital platform
Connecting users and dealers via digital platform Pidilite Industries Limited 18
Slide 34: Celebrating Occasions via Digital Media
Celebrating Occasions via Digital Media Pidilite Industries Limited 19
Slide 35: 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 36: Shareholding Pattern as of September 30, 2020
Shareholding Pattern as of September 30, 2020 Pidilite Industries Limited 21
Slide 37: Share Price Movement
Share Price Movement Rebased to 100 Pidilite Industries Limited 22
Slide 38: Backed by consistent dividend payouts
Backed by consistent dividend payouts 50% 40.6% 40% 38.1% 36.9% 33.1% 33.8% 30% 20% 10% 0% FY16 FY17 FY18 FY19 FY20 Note: The Net Profit considered for above calculation is excluding exceptional items Pidilite Industries Limited 23
Slide 39: 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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