Ifb Industries Ltd · NSE:IFBIND
Ifb Industries — Q2 FY2025 Earnings Presentation
59 slides from Ifb Industries's earnings presentation, Nov 2, 2024
Slide 1: Cover letter to stock exchanges
_IFI3 IFB Industries Limited Corporate Office [ ‘ Plot No.-IND-5, Sector-1 East Kolkala Towhship, Kolkata - 700 107 Telephone : (91) (33) 39849475/9524 Fax : (91) (33) 39849676 Web : www.ifbindustries com 2™ November, 2024 The Manager Department of Corporate Services Bombay Stock Exchange Ltd, Phiro
Slide 2: IFB Industries Limited Financial Report
IFB Industries Limited Financial Report B - pum— mmm ‘\‘hWa
Slide 3: Performance Report Q2 FY25
Financial Report i‘ Quarter Ended 30 September, 2024 Performance Report Q2 FY 25 Performance Snapshot ® in Crore) Performance Overview—Q2 FY '25 Particulars Q2FY25 Q2FY24 Growth% + Revenue growth for the quarter has been 11%. Flat revenue R o0 0412 A 1% growth in July and August impacted second quar
Slide 4: Performance Report H1 FY25
Financial Report il Quarter Ended 30 September, 2024 Performance Report H1 FY "25-Growth in EBITDA level propelled by margin improvement Performance Snapshot e Performance Overview—H1 FY ’25 Particulars H1FY 25 H1FY24 Growth % + Revenue growth for the first half of the year was 14%. Revenue 243368 2
Slide 5: Financial Trend for Q2
Financial Report i‘ Quarter Ended 30 September, 2024 Financial Trend for Q2 Total Revenue (% in Crore) Operating Profit/EBITDA (% in Crore) ¢ 1102 1074 1189 718 o5 P 74 74 75 79 TT———¢— 00— J FY21 FY22 FY23 FY24 FY25 " A FY22 Fr2s P24 FY2s |_[o¥ - Profit After Tax PAT (Z in Crore) 3330 32604 2363 24
Slide 6: Parameters of Q2 FY25
Financial Report Quarter Ended 30 September, 2024 Ire Parameters of Q2 FY ’25 Total Revenue Revenue from Operations EBITDA 21,189 Crore 21,177 Crore 279 Crore (+)11% (+) 10% (+) 6% EBITDA Margin % Net Profit Margin % EPS 6.6% 28% 2821 () 32 bps (+) 13 bps (+) 16% Receivables Inventories Accounts Pay
Slide 7: Parameters of H1 FY25
Financial Report Quarter Ended 30 September, 2024 Ire Parameters of H1 FY ’25 Total Revenue Revenue from Operations EBITDA 22,434 Crore 22,414 Crore 2166 Crore (+) 14% (+) 14% (+) 43% EBITDA Margin % Net Profit Margin % EPS 6.8% 3% 217.80 (+) 140 bps (+) 150 bps (+) 130% Receivables Inventories Acco
Slide 8: Key Divisional Highlights
Q2| Financial Report Quarter Ended 30 September, 2024 Key Divisional Highlights HAD Engineering Steel Motors Revenue Z929 Crore Revenue %217 Crore Revenue 747 Crore + Revenue (Automotive Motors) EBITDA %46 Crore EBITDA 235 Crore EBITDA 323 Crore 218 Crore EBITDA (Automotive Motors) To boost revenue,
Slide 9: Insignificant Debt Burden
Financial Report il Quarter Ended 30 September, 2024 Insignificant Debt Burden Possibility of leveraging for future business expansion Total borrowing was ¥35.12 Crore as on quarter end date which includes only term loan amount. Break-up of term loan borrowings & its position as on 30th September, 2
Slide 10: Net Zero Debt, Positive Cash Balance
Financial Report i‘ Quarter Ended 30 September, 2024 ‘Net Zero’ Debt Real focus on building up Positive Cash Balance Against the aforesaid borrowing as on 30th September, 2024, our Cash and Bank Balances (including investments in Mutual Funds) were at ¥327.56 Crore. Hence the Company’s net cash bala
Slide 11: Refrigerator Plant, Pune
Financial Report i‘ Quarter Ended 30 September, 2024 Refrigerator Plant, Pune IFB Industries Limited invested ¥97 Crore in IFB Refrigeration Limited, now holding a 41.40% equity stake, with potential plans to increase this later in the year. The plant was completed in record time and began commercia
Slide 12: Home Appliances Division
Q2 Financial Report il Quarter and Half Year Ended 30th September, 2024 —~ - Home Appliances Division |11
Slide 13: Business Updates Home Appliances Division
Financial Report i‘ Quarter Ended 30 September, 2024 Business Updates Home Appliances Division Despite a robust gain in Air Conditioners (28%) and Refrigerators (6%), the consumer durables market saw flat or muted growth in the first half of FY '25, especially in the Washer category. Given that seve
Slide 14: Business Updates: Industrial segment and IFB Points
Financial Report i‘ Quarter Ended 30 September, 2024 Business Updates In the industrial segment, our full range of Washer Extractors and Dryers targeted at commercial laundry applications have significantly increased its order book over the past two Quarters. Key growth drivers include launderettes
Slide 15: Range of Products: Washers
Financial Report Quarter Ended 30 September, 2024 IrFB Range of Products Home Appliances The updates at the end of Q2 FY *25 for each of the product categories are given below: Washers Market Trends and Consumer Preferences (% in Crore) Value Sales Q2FY25 Q1FY25 Q2FY24 WASHED YET WOW EVEN AFTER MULT
Slide 16: Range of Products: Laundrimagic
Financial Report i‘ Quarter Ended 30 September, 2024 Range of Products Home Appliances IT'S ASOFA. Presenting IFB LAUNDRIMAGIC® NOT A DRYER. Awesome in every mausam A Laundry Revolution Imagine the convenience of having your clothes washed, dried and refreshed in a single appliance. Our innovative R
Slide 17: Range of Products: DeepClean Front Load Washers
Financial Report il Quarter Ended 30 September, 2024 Range of Products Home Appliances Launched a new range of Deep Clean Front Load Washing Machines (FL) Designed to make your clothes last longer. DeepClean Technology Increases the life of your clothes by 30%. Keeps them looking like new ‘Even Afte
Slide 18: Range of Products: Top Load Washing Machine
Financial Report i‘ Quarter Ended 30 September, 2024 Range of Products Home Appliances Top Load Washing Machine (TL) Launched with Advanced Features and Performance Innovative Technology Equipped with steam technology, inverter technology, and WiFi connectivity, our Top Load Washer offers a range of
Slide 19: Range of Products: Clothes Dryers
Financial Report Quarter Ended 30 September, 2024 Ire Range of Products Home Appliances Clothes Dryers (CD) Cloth drying machines with advanced technologies, such as heat pump systems and smart features, typically come with higher initial costs compared to Traditional drying methods and basic models
Slide 20: Range of Products: Microwave Ovens
Financial Report Quarter Ended 30 September, 2024 IrFB Range of Products Home Appliances Microwave Ovens (MWO) The Microwave Oven market has stabilised with limited growth, mainly from pent-up demand in the lower-end solo category. IFB holds the second position in the market TASTE THE FOOD, as of th
Slide 21: Range of Products: Built-in Ovens, Hobs, Chimneys
Financial Report i‘ Quarter Ended 30 September, 2024 Range of Products Home Appliances Built in Ovens, Built in Dishwashers, Built in MWO, Chimneys and Hobs There is a dedicated and immediate focus to ensure that the gaps in areas like exclusive manning, right model placements and displays, putting
Slide 22: Range of Products: Modular Kitchens
Financial Report Quarter Ended 30 September, 2024 Range of Products Home Appliances Modular Kitchens Here we have completely failed, we are re-working strategy and we will come back Value Sales in e 1.42 Note: All the product figures are at net sales level after eliminating respective scheme costs.
Slide 23: Range of Products: Dishwashers
Financial Report i‘ Quarter Ended 30 September, 2024 Range of Products Home Appliances Dishwashers (DWs) The domestic dishwasher market is now stabilised, with sales of 15,000 units per month, dominated by three key brands, including IFB. The product range in Dishwasher is right, we have to work on
Slide 24: Range of Products: Air Conditioners
Financial Report i‘ Quarter Ended 30 September, 2024 Range of Products Home Appliances Air Conditioners (ACs) To Strengthen our AC range further, a new range with very good cooling performance and host of new features are being planned for the upcoming season. Our range includes 3 and 5-star models
Slide 25: Industrial Segments—Laundry and Dishwashing Equipment
Financial Report i‘ Quarter Ended 30 September, 2024 Industrial Segments—Laundry and Dishwashing Equipment Innovation Driven Excellence—Enhancing Sustainability and Customer Satisfaction IFB Industrial business offers comprehensive solutions to different sectors by expertly addressing the specific i
Slide 26: Service Network
Financial Report Quarter Ended 30 September, 2024 Ire Service Network We strongly believe that our service franchise network is our most valuable asset. We added 15 franchisee in the last quarter. We presently have 1482 franchisees pan India covering all the geo-locations. 2,500+ | 1,120+ cities ser
Slide 27: Performance Report HAD for Quarter 2
Financial Report i‘ Quarter Ended 30 September, 2024 Performance Report HAD for Quarter 2 Performance Snapshot in Crore) Performance Overview + We now have a complete range of products and there is no reason for us not to excel and achieve 20% plus revenue Revenue growth. We need to drive the sales
Slide 28: Financial Summary of Home Appliances Division
Financial Report Quarter Ended 30 September, 2024 Ire Financial Summary of Home Appliances Division (% in Crore) Partiodlars Q@FY25 Q2FY24 VIDRY2S vIDFY24 Revenue 92882 84878 1936.72 169957 EBITDA 4598 5451 10621 80.79 EBITDA % on Revenue 495 642 548 475 EBT 1648 2548 4794 2267 EBT % on Revenue 177
Slide 29: HAD Quarterly Results Q2 FY25 vs Q2 FY24
Financial Report Quarter Ended 30 September, 2024 IrFB HAD Quarterly Results Q2 FY '25 vs Q2 FY 24 (% in Crore) Revenue EBITDA EBT GROWTH YOV | vov +9% YOY -16% YOY -35% 928.82 848.78 2548 4598 16.48 FY 24 FY 25 FY 24 FY 25 FY 24 FY 25 Note: YOY means Year on Year-comparison between current year and
Slide 30: Segmental Sales Home Appliances Division
Financial Report i‘ Quarter Ended 30 September, 2024 Segmental Sales Home Appliances Division Q2 FY '25 Product-wise spread in Home Appliances Division 25% 6.8% W AC 63.02 6.8% I Front Loader 39865 43.1% M Service 152.39 16.5% I Top Loader 105.57 11.4% I Microwave 72:47, 7.8% i Refrigerator Mn57 45%
Slide 31: Consistent Improvement in Inventory Days
Financial Report i‘ Quarter Ended 30 September, 2024 Focussed approach resulting in consistent improvement in Inventory Days Steady improvements in Inventory Holding Days over last eight quarters—HAD Inventory Days (On Sales) 62 | 57 l \43 48 49 48 The gradual reduction in Inventory Days—witnessed a
Slide 32: Engineering Division
Financial Report i‘ Quarter Ended 30 September, 2024
Slide 33: Moderate performance by all business verticals needs improvement
Financial Report i‘ Quarter Ended 30 September, 2024 Moderate performance by all business verticals needs further improvement —marketing to be pushed for the same Performance Snapshot & in Crore) Performance Overview L I Witnessed a revenue growth of 12% this fiscal year with EBITDA Revenue 21670 19
Slide 34: Industry outlook: automobile business
Financial Report i‘ Quarter Ended 30 September, 2024 Industry outlook on the business perspectives of automobile business INDUSTRY OVERVIEW Q2 FY "25 Four Wheeler Two Wheeler + Subdued growth was observed for the Four Wheeler + Two Wheeler sales surged to 5.2 Million units, segment in QOQ with 3% wh
Slide 35: Vehicle Sales Volume Growth in India
Financial Report i‘ Quarter Ended 30 September, 2024 Vehicle Sales Volume Growth in India Two Wheeler Four Wheeler Commercial Vehicles Electric Two Wheeler 20.1% 12.6% 225% 3.9% 2.8% -45% -1.6% -9.6% Q0Q Yoy QoQ QoQ Yoy QoQ Yoy Yoy (Units in Lakhs) Our Business Two Wheeler 5179 4986 39% 4598 126% Co
Slide 36: Steady Improvement in ROCE
Financial Report i‘ Quarter Ended 30 September, 2024 Steady Improvement in ROCE ROCE % 539 447 287 L L L L Q2 FY 24 Q3 FY 24 Q4FY24 Q1 FY25 Q2FY25 Improvement in ROCE is mainly due to the following reasons - Optimisation of working capital deployed, leading to lowering of capital employed base. + Im
Slide 37: Leverage at a comfortable level of 0.09X
Q2| Ire Financial Report Quarter Ended 30 September, 2024 Leverage at a comfortable level of 0.09X—Net Debt/EBITDA (Std 3X) (% in Crore) (% in Crore) Repayment schedule of 14000 040 term loan as on 30th G5 September 24 12000 054 030 030 10000 025 3 80.00 020 60.00 015 40.00 010 2000 005 2576 2944 0.
Slide 38: Consistent improvement in inventory days
Financial Report i‘ Quarter Ended 30 September, 2024 Focused approach resulting in consistent improvement in inventory days Steady Improvements in Inventory Holding Days Over Last Twelve Quarters Inventory Days (On Sales) The gradual reduction in inventory days—witnessed sharp fall from the peak of
Slide 39: Engineering Performance Q2 FY25 vs Q2 FY24
Financial Report i‘ Quarter Ended 30 September, 2024 Engineering Performance (Business Vertical Wise) Q2 FY 25 vs Q2 FY '24 (% in Crore) Fine Blanking Stamping After Market Total Engineering 10050 21670 soms 118 2051 .24'35 1910 M7 FY24 FY25 FY24 FY25 FY24 FY25 FY24 FY25 EBITDA Growth YOY (% in Cror
Slide 40: Engineering Performance H1 FY25 vs H1 FY24
Q2 | Ire Financial Report Quarter Ended 30 September, 2024 Engineering Performance (Business Vertical Wise) H1 FY '25 vs H1 FY 24 (% in Crore) Fine Blanking Stamping After Market Total Engineering 413.00 369.32 29555 I331 5 FY24 FY25 FY 24 FY2s5 FY24 FY25 EBITDA Growth YOY (% in Crore) 65.47 56.10 5
Slide 41: Financials-Quarterly and Half Yearly
Q2| Ire Financial Report Quarter Ended 30 September, 2024 Financials-Quarterly and Half Yearly (% in Crore) Business Q2FY24 Q2FY25 Brisian Revenue EBITDA EBITDA% Revenue EBITDA EBITDA% TREND Fine Blanking (FBD) 150.89 2525 17% 17118 2994 17% 4 Stamping 2051 320 16% 2435 414 17% 4 After Market 19.10
Slide 42: Quarterly Performance Analysis
Financial Report Quarter Ended 30 September, 2024 Ire Moderate growth in Revenues, with continuous improvement in EBITDA level through margin improvements—Quarterly Performance Analysis Financial Performance Q2 FY '25 (% in Crore) Revenue EBITDA EBT YOY +14% | Q0OQ +10% YOY +23% | Q0Q +16% YOY +49%
Slide 43: Financial Summary of Engineering Division
Financial Report i‘ Quarter Ended 30 September, 2024 Financial Summary of Engineering Division (% in Crore) Particulars Q2 FY 25 Q2FY 24 H1 FY 25 H1 FY 24 Revenue 216.70 19050 413.00 369.32 EBITDA 35.20 2867 6547 51.10 EBITDA % on revenue 1624 1505 1585 1384 EBT 2855 1920 51.40 3162 EBT % on revenue
Slide 44: Appliance Motors Division BLDC Project
Financial Report i‘ Quarter Ended 30 September, 2024 APPLIANCE MOTORS DIVISION BLDC Project Our Division has made a strategic commitment to energy conservation by transitioning all appliance motors to energy-efficient BLDC (Brushless DC) motors. These BLDC motors are engineered to reduce energy cons
Slide 45: Summary of the Automotive Motors Division
Financial Report i‘ Quarter Ended 30 September, 2024 Financial Summary of the Automotive Motors Division (% in Crore) Paiclrs Revenue Q2FY25 Q2FV24 1544 HIFYZS HIFY24 31.78 EBITDA -021 013 EBITDA % on revenue -136 041 EBT 055 -058 EBT % on revenue -3.58 -183 - During Q2 of FY '25, the Automotive Mot
Slide 46: Summary of Steel Division
Financial Report i‘ Quarter Ended 30 September, 2024 Financial Summary of Steel Division (% in Crore) Particulars Q2 FY 25 Q2FY 24 H1 FY 25 H1 FY 24 Revenue 47.36 3767 9294 75.35 EBITDA 226 -001 3353 -029 EBITDA % on revenue G -0.03 358 -038 EBT 079 =1.15 051 =259 EBT % on revenue 167 -3.05 055 =518
Slide 47: GAAL Global Automotive & Appliances Pte Ltd
Financial Report i‘ Quarter Ended 30 September, 2024 GAAL Global Automotive & Appliances Pte Ltd (Z in Crore) Revenue EBITDA EBITDA % on revenue EBT EBT % on revenue IFB Industries Limited, Revenue growth for Quarter 2 is 50% compared to last year and EBITDA is at 12%. the Holding company, has one w
Slide 48: TAAL Thai Automotive & Appliances Limited
Financial Report i‘ Quarter Ended 30 September, 2024 TAAL Thai Automotive & Appliances Limited (Z in Crore) Revenue EBITDA EBITDA % on revenue EBT EBT % on revenue TAAL is engaged in manufacturing of auto components through Fine Blanking process. « The Management was restructured at TAAL; a new CEO
Slide 49: Note on current status after takeover
Financial Report Quarter Ended 30 September, 2024 Note on current statu: after takeove
Slide 50: Note on Acquisition of Steel Division
Financial Report i‘ Quarter Ended 30 September, 2024 Note on Acquisition of Steel Division The key challenges of this business were + The unit was running at poor capacity utilisation and low order booking. + Plant equipment and electricals were not only outdated but obsolete at the same time. + Non
Slide 51: Note on Automotive Motors Division takeover
Q2| Financial Report Quarter Ended 30 September, 2024 Note on Automotive Motors Division takeover The Motor Division acquired the Automotive Motor Division from IFB Automotive Pvt. Ltd in October 2019. The objective was to bring in synergy between the two divisions which could result in substantial
Slide 52: Standalone Income Statement
Financial Report Quarter Ended 30 September, 2024 Ire FINANCIAL STATEMENTS Standalone Income Statement (Quarterly and Half—yearly Results) Key Indices as on (Z in Crore) 30 September, 2024 Quarterly Total Sale of Products 1,44603 128898 300823 256883 Less: Trade Scheme and Discounts, 336.48 27811 72
Slide 53: Standalone Balance Sheet
Financial Report i‘ Quarter Ended 30 September, 2024 FINANCIAL STATEMENTS Standalone Balance Sheet ®in Crore) - 30 September, 2024 e N R Half Vearly ASSETS Property, Plant and Equipment* 60868 67308 Investment -in Subsidiaries - - 1 11860 11860 Fixed Assets 2608.68 Crore Investment in Equity Shares
Slide 54: Standalone Key Ratios
Financial Report Quarter Ended 30 September, 2024 IrFB FINANCIAL STATEMENTS Standalone Key Ratios (% in Crore) Key Indices as on 30 September, 2024 Quarterly Earnings Per Share (in ?) (Not Annualised) 821 708 Book Value Per Share (in 3) 19712 16966 19712 169.66 Current Ratio Current Ratio (#) 119 10
Slide 55: Standalone Cashflow Statement
Financial Report Quarter Ended 30 September, 2024 Ire FINANCIAL STATEMENTS Standalone Cashflow Statement (Annual) (% in Crore) Key Indices as on 30 September, 2024 YTD CASHFLOWS FROM OPERATING ACTIVITIES Cash flow from Profit Before Tax 97.04 4175 operating Non Cash and Other Adjustments 53.92 6541
Slide 56: Consolidated Income Statement
Financial Report Quarter Ended 30 September, 2024 Ire FINANCIAL STATEMENTS Consolidated Income Statement (Quarterly and Half—yearly Results) (Z in Crore) Key Indices as on 30 September, 2024 Quarterly Total Sale of Products 1,488.16 1,52126 308165 263135 Less: Trade Scheme and Discounts 336.48 27811
Slide 57: Consolidated Highlights
Financial Report Quarter Ended 30 September, 2024 IrFB CONSOLIDATED HIGHLIGHTS (Quarterly and Half—yearly Results) ( in Crore) H1 FY 25 H1FY 24 Q2FY25 Q2FY 24 Total Income 2,5081 220067 1,252.06 1106.98 Earning Before Depreciation, Interest and Tax 16432 106.92 7826 6865 Earning Before Interest and
Slide 58: Consolidated Balance Sheet
Financial Report Quarter Ended 30 September, 2024 IrFB CONSOLIDATED BALANCE SHEET in Crore) Key Indices as on 30 September, 2024 o s M ASSETS Property, Plant and Equipment” 63491 64545 Fixed Assets Investment in Equity Shares 6813 7086 ¥634.91 Crore Inventories 62106 53919 Investment in Mutual Funds
Slide 59: Satisfied Customers; Contact and Disclaimer
SATISFIED CUSTOMERS =all® Microwave Oven Builtin-Oven Dishwasher DC & FF Refrigerators Chimney | BuiltinHob Top Load Front Load 100% Clothes Dryer Air Conditioner Contact Phone +91 33 39849475/9524 - Email investor_relation@ifbglobal.com Disclaimer This presentation contains statements which reflect