Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q4 FY2022 Earnings Presentation
38 slides from Pidilite Industries's earnings presentation, May 19, 2022
Slide 1: Exchange cover letter: Investor Update
19th May, 2022 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 Cod
Slide 2: Investor Update: Year and quarter ended March 2022
Pidilite Industries Limited Investor Update Year and quarter ended March 2022 Financial Highlights Coverage Consolidated Standalone Financial Highlights Particulars Year Quarter Year Quarter Business segment wise results Ended Ended Ended Ended Overseas subsidiaries performance Mar’22 Mar’22 M
Slide 3: Financial Highlights
Financial Highlights FY 2021 - 22: Consolidated Performance as compared to the previous year ended: Net sales grew by 36.3%. Material cost as a % to net sales is higher by 853 Bps. EBITDA before non-operating income grew by 11.1% Profit before tax and Exceptional Items (PBT) grew by 5.7%.
Slide 4: Business Segment Wise Performance – Standalone
Business Segment Wise Performance – Standalone (On a comparable basis) Rs Crores Sr. PARTICULARS Year Ended Quarter Ended No Mar'22 Mar'21 Growth Mar'22 Mar'21 Growth 1 Segment Sales a) Consumer & Bazaar Products (C&B) 6,554.5 4,978.6 31.7% 1,593.8 1,446.8 10.2% b) Business to Business (B2B) 1,853.7
Slide 5: Overseas and Domestic Subsidiaries Performance
Rs Crores Full Year Quarter ended Sales FY'22 FY'21 Growth Mar'22 Mar'21 Growth Asia 293.5 220.0 33.4% 82.5 68.1 21.2% Middle East and Africa 207.9 156.4 33.0% 55.4 48.8 13.6% Americas 224.0 246.9 -9.3% 53.6 57.1 -6.2% Total 725.4 623.3 16.4% 191.5 174.0 10.1% Rs Crores Full Year Quarter ended EBITD
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 YEAR ENDED 31.03.2022 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021 Unaudited Unaudited Unaudited Audited Audited 1 Segment Revenue a) Consumer & Bazaar Prod
Slide 8: Standalone Statement of Assets and Liabilities
---3--- STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2022 Rs Crores As at As at Sr Particulars 31.03.2022 31.03.2021 No Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1290.01 1023.38 (b) Right of Use Assets 166.52 118.67 (c) Capital Work-In-Progress 207
Slide 9: Standalone Statement of Cash Flows
---4--- STANDALONE STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31.03.2022 Rs Crores For the Year ended 31.03.2022 31.03.2021 Particulars Audited Audited A] Cash Flows from Operating Activities Profit before tax 1627.49 1456.63 Adjustments for: Finance costs recognised in Statement of Profit and Loss
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 18th May 2022. 2. The Statutory auditors have performed audit of the standalone financial results for the
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 YEAR ENDED 31.03.2022 Rs Crores For the Quarter ended For the Year ended Sr. Particulars No. 31.03.2022 31.12.2021 31.03.2021 31.03.2022 31.03.2021 Unaudited Unaudited Unaudited Audited Audited 1 Segment Revenue a) Consumer & Bazaar 19
Slide 13: Consolidated Statement of Assets and Liabilities
---3--- CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES AS AT 31.03.2022 Rs Crores As at As at Sr No Particulars 31.03.2022 31.03.2021 Audited Audited A ASSETS 1 Non Current Assets (a) Property, Plant and Equipment 1,554.86 1,285.03 (b) Right of Use Assets 202.93 157.81 (c) Capital Work-In-Progress
Slide 14: Consolidated Statement of Cash Flows
---4--- CONSOLIDATED STATEMENT OF CASHFLOWS FOR THE YEAR ENDED 31.03.2022 Rs Crores For the Year ended 31.03.2022 31.03.2021 Particulars Audited Audited A] Cash Flows from Operating Activities Profit before tax 1,613.78 1,522.49 Adjustments for: Share of profit from Associates (11.88) (3.98) Finance
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 18th May 2022. 2. The above results comprise the results of Pidilite Industries Ltd. (Parent Company), 3
Slide 16: Q4 FY22 Earnings Presentation
Q4’ FY 22 Earnings Presentation
Slide 17: Our Brands
OUR BRANDS a FEVICOL "CS FIN | Rangeela: ICA] Pidilite| Araldite (E DROP ® steelorip es. > grupopuma LITOKOL MAR = Jowats eps
Slide 18: 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 19: Market Outlook
MARKET OUTLOOK The quarter witnessed unprecedented inflation in key raw materials impacting consumer demand. The inflationary trend is expected to continue in near term which will be mitigated by calibrated pricing actions and effective cost management actions. Despite near term concerns aroun
Slide 20: Financial Highlights
FINANCIAL HIGHLIGHTS f |
Slide 21: Earnings Summary FY'22
EARNINGS SUMMARY FY’22 NET SALES EBITDA* PBT* PAT CONSOLIDATED Rs. 9,880 Cr Rs. 1,869 Cr Rs. 1,614 Cr Rs. 1,207 Cr YOY GROWTH 36.3% 11.1% 5.7% 7.2% STAND ALONE Rs. 8,298 Cr Rs. 1,612 Cr Rs. 1,627 Cr Rs. 1,269 Cr YOY GROWTH 34.1% 4.0% 11.7% # 17.3% # * EBITDA is before non operating income. PBT is Pr
Slide 22: Earnings Summary Q4 FY22
EARNINGS SUMMARY Q4’ FY22 NET SALES EBITDA* PBT* PAT CONSOLIDATED Rs. 2,498 Cr Rs. 412 Cr Rs. 346 Cr Rs. 254 Cr YOY GROWTH 12.0% -10.5% -16.6% -17.2% STAND ALONE Rs. 2,075 Cr Rs. 346 Cr Rs. 397 Cr Rs. 318 Cr YOY GROWTH 12.1% -15.2% 5.6%# 15.1%# •EBITDA is before non operating income. PBT is Profit b
Slide 23: Performance Overview
PERFORMANCE OVERVIEW Current year registered a robust sales growth aided by strong volume growth across categories and geographies. Growth was broad based across C&B and B2B segments with both the segments reporting volume growths of over twenty percent each. Quarter witnessed price led growth w
Slide 24: Overseas Subsidiaries Performance FY'22
OVERSEAS SUBSIDIARIES PERFORMANCE FY’22 (in INR Crores) Asia Sales 220.0 293.5 Americas Sales EBITDA 246.9 224.0 35.9 45.7 EBITDA Middle East and Africa 42.6 # 9.7 Sales EBITDA 156.4 207.9 -5.9 -3.3 # Including tax gain of Rs 9.5 Cr in FY’21. • Amounts are like for like actual reported numbers exclu
Slide 25: Overseas Subsidiaries Performance Q4 FY22
OVERSEAS SUBSIDIARIES PERFORMANCE Q4’ FY22 (in INR Crores) Asia Sales 68.1 82.5 Americas Sales EBITDA 57.1 53.6 12.5 9.1 EBITDA Middle East and Africa 1.7 Sales EBITDA 48.8 55.4 -2.4 -1.4 -1.5 • Amounts are like for like actual reported numbers excluding translations and other consolidation impacts
Slide 26: Domestic Subsidiaries Performance FY22
DOMESTIC SUBSIDIARIES PERFORMANCE FY22 INR (Rs in Crore) 600 495.7 500 400 258.6 272.1 300 176.6 178.2 NET SALES 126.8 168.3 200 89.7 41.9 100 30.9 0 Nina Percept Pvt Ltd ICA Pidilite Pvt Ltd Cipy Polyurethane Pvt Pidilite Adhesives Pvt Others FY'21 Ltd* FY'22 Ltd* 200 160.9 160 120 60.3 80 41.0 EBI
Slide 27: Domestic Subsidiaries Performance Q4 FY22
DOMESTIC SUBSIDIARIES PERFORMANCE Q4’FY22 INR (Rs in Crore) 160 139.1 84.0 109.6 120 72.1 78.4 80 61.5 33.1 33.0 NET SALES 40 12.1 13.3 0 Nina Percept Pvt Ltd ICA Pidilite Pvt Ltd Cipy Polyurethane Pvt Pidilite Adhesives Pvt Others Ltd* Ltd* Q4 FY 21 Q4 FY 22 50 43.2 34.3 30 6.3 12.6 4.8 10 2.8 0.5
Slide 28: A Company at Glance
A COMPANY AT GLANCE Brand established Adhesives & sealants, History of creating Among the most trusted brands in 1959 construction strong brands in the country. Other big brands Pioneer in chemicals, art & craft include M-Seal, Fevikwik, Fevistik, Consumer & products & polymer Roff, Dr. Fixit, Fevic
Slide 29: Industry Segment Composition
INDUSTRY SEGMENT COMPOSITION 6.0% 7.2% Pigment & Industrial Resins, Preparations Construction chemicals (Project) etc. 0.7% Others 6.5% Industrial Adhesives 5.9% Art & Craft Materials etc. 53.4% 79.6% Adhesives & Consumer & Bazaar products 20.3% Sealants Construction & Paint Chemicals 19.7% Business
Slide 30: 5-Year Performance by Business Segments
5-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% 21% 81% 80% 80% 21% 80% 20% 20% 20% 79% 19% 79% 19% 77% 17% 75% 15% 2017-18 2018-19 2019-20 2020-21 2021-22 2017-18 2018-19 2019-20 20
Slide 31: Domestic Presence
DOMESTIC PRESENCE INDIA OPERATIONS 6,000+ SKUs of 600+ products Domestic Revenue of Rs. 7,461 Cr for FY22 26 plants, 29 Co-makers 4,800+ distributors 43 warehouses 9 regional offices & 3 RDCs
Slide 32: Share Holding Pattern - March 2022
SHARE HOLDING PATTERN- 31 March 2022 Promoters 14.49% Mutual Funds FPIs Others 11.57% 4.00% 69.94%
Slide 33: 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-Seal,
Slide 34: Connecting Digitally
CONNECTING DIGITALLY a. Fevicol _ Fevikwik ooo 25, Fevicol ooo In an alternate universe, this would be Fevicol Marine Lines ;) ; One thing in common? They all stick around! #FevicolKaod #Mazbootod Introducing a new age vow for you and your loved one ;) #FevicolKaJod #MazbootJod #Fevikwik #Valentines
Slide 35: Celebrating Occasions - Digital Way
CELEBRATING OCCASSIONS- DIGITAL WAY
Slide 36: Share Price Movement
SHARE PRICE MOVEMENT 160 150 140 130 120 110 100 90 80 Pidilite Sensex Rebased to 100
Slide 37: Consistent Dividend Payouts
CONSISTENT DIVIDEND PAYOUTS 50% 40.6% 39.9% 40% 38.1% 36.9% 33.8% 30% 20% 10% 0% FY17 FY18 FY19 FY20 FY21 FY 22: The Board of Directors have proposed a final dividend of Rs. 10 Per share, subject to approval of shareholders at the AGM. Note: The Net Profit considered for above calculation is excludi
Slide 38: Investor Relations
CIN : L24100MH19 69P LC014336 Investor Relations Investor.relations@pidilite.co.in Manisha Shetty [Company Secretary] Ramkrishna Mandir Road, Off Mathuradas Vasanji Road, Andheri (E), Mumbai - 400 059. Phone : +91 22 28357949 Fax : +91 22 28216007
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