V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q3 FY24 Earnings Presentation
19 slides from V-guard Industries's earnings presentation, Feb 1, 2024
Slide 1: Exchange filing cover letter
February 1, 2024 The Manager, The Manager, Listing Department, Listing Department, BSE Limited, National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Mumbai- 400 001 Bandra-East, Mumbai- 400 051 Scrip
Slide 2: V-Guard Industries Q3 FY24 Earnings Presentation
V-Guard Industries Q3 FY24 Earnings Presentation
Slide 3: Disclaimer
2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
3 Table of Contents MD’s Message 04 Key Highlights 05 Financial Highlights 06-10 Segment-wise/Geographical Breakup of Revenues 11-13 Annexure 14-16
Slide 5: Managing Director's Message
4 Managing Director’s Commenting on the performance for Q3 FY24, Mr. Mithun Chittilappilly, Managing Director – V-Guard Message Industries Limited said, “We have delivered a resilient performance this quarter in a challenging backdrop as Consumer demand for categories like Consumer Durables remained
Slide 6: Key Highlights – Q3 FY24
Key Highlights – Q3 FY24 5 • Q3 FY24 revenue increased by 18.6% YoY to Rs. 1,165.39 crore Revenue increased by • South markets witnessed a YoY growth of 10.6% whereas Non-South markets grew by 11.2% in Q3 FY24 18.6% YoY in Q3 FY24 • Non-South markets contributed to 45.6% of total revenues in Q3 FY24
Slide 7: P&L Snapshot (including Sunflame)
6 P&L Snapshot (including Sunflame) P&L Statement Q3 FY24 Q3 FY23 Change Q2 FY24 9M FY24 9M FY23 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue 1,165.39 982.28 18.6% 1,133.75 3,513.90 2,987.97 17.6% COGS 770.59 690.70 11.6% 750.92 2,341.42 2,101.27 11.4% Gross Margin
Slide 8: P&L Snapshot (excluding Sunflame)
7 P&L Snapshot (excluding Sunflame) P&L Statement Q3 FY24 Q3 FY23 Change Q2 FY24 9M FY24 9M FY23 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue 1,089.12 982.28 10.9% 1,072.03 3,312.76 2,987.97 10.9% COGS 722.31 690.70 4.6% 710.88 2,212.17 2,101.27 5.3% Gross Margin 3
Slide 9: Financial Highlights (Q3 FY24 vs. Q3 FY23)
8 Financial Highlights (Q3 FY24 vs. Q3 FY23) Total Income (Rs. crore) Gross Profit (Rs. crore) 1,165 982 395 292 Key ratios (%) Q3 FY24 Q3 FY23 Gross Margin 33.9% 29.7% 18.6% 35.4% EBITDA Margin (excl. other income) 8.7% 6.8% Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Net Margin 5.0% 4.0% Ad & Promotion Exp./
Slide 10: Financial Highlights (9M FY24 vs. 9M FY23)
9 Financial Highlights (9M FY24 vs. 9M FY23) Total Income (Rs. crore) Gross Profit (Rs. crore) 3,514 1,172 2,988 887 Key ratios (%) 9M FY24 9M FY23 Gross Margin 33.4% 29.7% 17.6% 32.2% EBITDA Margin (excl. other income) 8.5% 7.5% 9M FY23 9M FY24 9M FY23 9M FY24 Net Margin 5.2% 4.6% EBITDA (Rs. crore
Slide 11: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Balance Sheet Perspective 10 Balance Sheet Snapshot (Rs. Cr) 31 December 2023 30 September 2023 31 December 2022 Net Worth 1,737.16 1,682.55 1,503.27 Gross Debt 290.03 293.17 116.71 Current Investments 40.16 35.13 325.53 Cash & Cash Equivalents (inc. bank balance) 104.76 99.08
Slide 12: Segment-wise Breakup – Q3 FY24 vs. Q3 FY23
11 Segment-wise Breakup – Q3 FY24 vs. Q3 FY23 Q3 FY24 Q3 FY23 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 223.62 19.2% 191.69 19.5% 16.7% Electricals 472.70 40.6% 436.43 44.4% 8.3% Consumer Durables 392.80 33.7% 354.16 36.1% 10.9% Sunflame 76.27 6.5
Slide 13: Segment-wise Breakup – 9M FY24 vs. 9M FY23
12 Segment-wise Breakup – 9M FY24 vs. 9M FY23 9M FY24 9M FY23 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 842.44 24.0% 722.77 24.2% 16.6% Electricals 1,391.70 39.6% 1,274.41 42.6% 9.2% Consumer Durables 1,078.62 30.7% 990.79 33.2% 8.9% Sunflame 201.
Slide 14: Geographical Breakup of Revenues
13 Geographical Breakup of Revenues Q3 FY24 Q3 FY23 YoY growth Region Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) South 592.20 54.4% 535.37 54.5% 10.6% Non-South 496.92 45.6% 446.91 45.5% 11.2% Total (excl. Sunflame) 1,089.12 100.0% 982.28 100.0% 10.9% Sunflame 76.27 - Total Revenue 1,16
Slide 15: UARD
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Slide 16: Market Overview of V-Guard's Product Portfolio
15 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Electronics Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Microtek, Livguard, Stabilizers 1,700-1,800 55-60% 7-8% 42-45% Bluebird Luminous, Microtek, DUPS & Batte
Slide 17: Market Overview of V-Guard's Product Portfolio
16 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Appliances Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Water Heaters 2,500-2,600 65-70% 10-12% 14-16% Havells, Bajaj, Crompton, Racold Crompton, Usha, Havells,
Slide 18: About V-Guard Industries
17 About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, founded in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a mu
Slide 19: Thank You
THANK YOU