Slide 1: Investor Presentation May 2023
Leader in Lifestyle Kitchen Products Advancing through Innovation. Progressing through Expansion. Investor Presentation May 2023
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Carysil Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, a
Slide 3: Q4 & FY23 Highlights
Q4 & FY23 Highlights
Slide 4: Message from Chairman & MD
Message from Chairman & MD Commenting on the Results, Mr Chirag Parekh, Chairman & Managing Director, said, “The year experienced extreme volatility with almost every global economy facing macro challenges, despite these challenges we have surpassed our medium-term revenue target of Rs. 500 crores i
Slide 5: Robust FY23 Performance
Robust FY23 Performance KEY HIGHLIGHTS Total Income* ✓ Domestic business has increased by 35.0% to Rs 131.6 cr for FY23 contributing 22.2% of revenue Rs. 539.9 cr ✓ Acquired ‘The Tap Factory Ltd.’ which will allow it to leverage its expertise in tap design and marketing to better serve its customer’
Slide 6: Consolidated: FY23 Performance
Consolidated: FY23 Performance Rs. Crores Total Income* (Rs. Crs) EBITDA^ (Rs. Crs) PAT After MI (Rs. Crs) 593.9 114.7 108.9 64.8 492.4 52.4 FY22 FY23# FY22 FY23# FY22 FY23# Domestic Revenue (Rs. Crs) Exports Revenue (Rs. Crs) 131.6 462.3 97.5 318.8 FY22 FY23# FY22 FY23# *Incudes gain / (loss) on Fo
Slide 7: Consistent Growth
Consistent Growth Rs. Crores Quartz Sink Volumes (Units in ‘000s) Other Volumes (Units in ‘000s) Total Income** Steel Sink Kitchen Appliances & Others# 650 163 153 594 514 55 +21.9% 492 117 114 48 387 413 103 346 91 51 45 316 300 43 280 267 67 36 252 23 181 197 105 109 60 66 69 44 55 FY17 FY18 FY19
Slide 8: Revenue Mix
Revenue Mix Geography-wise Revenue Product-wise Revenue FY23 Export 52% 22% Domestic 25% 78% 11% 13% Quartz Sink Steel Sink Appliances & Others Solid Surface Sinks 5% FY22 95% 9% Strengthening 14% 77% ‘Carysil’ Brand Quartz Sink Steel Sink Appliances & Others 8
Slide 9: Consolidated Profit & Loss
Consolidated Profit & Loss Particulars (Rs. Crs.) Q4FY23 Q4FY22 Y-o-Y Q3FY23 Q-o-Q FY23 FY22 Y-o-Y Revenue 145.6 138.9 137.8 593.9 483.9 Gain / (Loss) on Foreign Exchange 0.0 2.0 0.0 0.0 8.5 Total Income 145.6 141.0 3% 137.8 6% 593.9 492.4 21% Raw Material 75.4 58.1 70.2 302.4 209.5 Employee Expense
Slide 10: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Liabilities (Rs. Crs.) Mar-23 Mar-22 Non-current assets 351.4 245.8 Total Equity 307.0 256.9 Property Plant & Equipment 209.7 168.3 Share capital 5.4 5.3 Right to use of assets 13.2 12.3 Other Equity 298.0 248.4 Goodwill 103.4 23.9 Non-Contr
Slide 11: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Net Profit For The Year 52.8 65.3 Adjustments for: Non-Cash Items / Other Investment or Financial Items 57.8 51.1 Operating profit before working capital changes 110.6 116.3 Changes in working capital -25.7 -45.6 Cash generated fr
Slide 12: Standalone Profit & Loss
Standalone Profit & Loss Particulars (Rs. Crs.) Q4FY23 Q4FY22 Y-o-Y Q3FY23 Q-o-Q FY23 FY22 Y-o-Y Revenue 75.2 110.9 69.7 335.7 388.0 Gain / (Loss) on Foreign Exchange 0.0 1.9 0.0 0.0 8.3 Total Income 75.2 112.9 -33% 69.7 8% 335.7 396.3 -15% Raw Material 32.6 43.2 31.3 145.4 163.6 Employee Expenses 6
Slide 13: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Liabilities (Rs. Crs.) Mar-23 Mar-22 Non-current assets 229.0 204.9 Total Equity 224.6 200.3 Property Plant & Equipment 175.1 147.0 Share capital 5.4 5.3 Right to use of assets 13.2 12.3 Other Equity 219.3 195.0 Intangible Assets 1.8 1.8 Capit
Slide 14: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Net Profit For The Year 25.6 51.5 Adjustments for: Non-Cash Items / Other Investment or Financial Items 43.1 44.3 Operating profit before working capital changes 68.7 95.8 Changes in working capital 0.5 -30.4 Cash generated from Ope
Slide 15: Improving Performance
Improving Performance Return on Capital Employed (%) Return on Equity (%) Working Capital Days 24.3% 28.9% 70 21.8% 21.3% 63 20.7% 56 16.9% 16.4% 20.2% 49 15.7% 18.7% 44 14.5% 13.2% 31 28 10.3% 7.1% FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY17 FY18 FY19 FY20 FY21 FY22 F
Slide 16: Carysil Brassware Ltd. exploring complimentary products
‘Carysil Brassware Ltd.’ exploring complimentary products Carysil Brassware Ltd. (formerly known as ‘The Tap Factory Ltd.’ Overview Deal Consideration Rationale Revenue (in £ Mn) • The Tap Factory Limited, • A unique range of fully certified • Equity Shares are acquired at a 1.7 incorporated in Engl
Slide 17: Capex Update
Capex Update Capacity Expansion of Capacity Expansion of Quartz Kitchen Sinks Capacity Expansion of Assembly / Manufacturing Stainless-Steel Sinks line of Appliance Division Capacity Expansion Capex Expansion of Capex Expansion of Capex Expansion of Assembly / Additional 140,000 Additional 160,000 C
Slide 18: Company Overview
a Company Overview
Slide 19: Numero Uno Position
Numero Uno Position Only Introduced Certification for Manufacturer with Schock Physical Vapor Deposition (PVD) Technology (Germany) Technology ISO 9001:2015, ISO 14001:2015 In Asia in Quartz Sink For metallic finish of stainless ISO 45001:2018 steel sinks PAN India presence Quartz Sink Capacity Expo
Slide 20: Products with Global Standards sold in 55+ Countries
Products with Global Standards sold in 55+ Countries Company presently exports to over 55 countries. Plan to expand further by acquiring new customers and penetrating in new geographies ✓ We have expanded to newer geographies – Australia, New Zealand, Gulf countries, Southeast Asia, China, Singapore
Slide 21: Our Distribution Model
Our Distribution Model International Domestic Significant Presence in UK Strong Foothold in India Market 3,100+ Dealers 65 Franchise Shop 85 Galleries STRATEGIC Acquisition of Acquisition of ‘Tickford Orange Limited’, holding 82 Distributors Carysil Products Limited company of its operating subsidia
Slide 22: Carysil – Over the Years
Carysil – Over the Years 2023 Carysil started 2013:Launched its first Kitchen 2022 Acquired 60,000 international Appliances in sq.m land in subsidiary in the Domestic Bhavnagar, Acquisition of Germany – Market under 2021 Tickford Gujarat for Rs ~8 Carysil GmbH. the brand name cr Orange Carysil Comme
Slide 23: Pillars of Integrated Business
Pillars of Integrated Business Manufacturing Facilities & Distribution Network Brand Product Basket Technology Gallery • Quartz Sinks: 10,00,000 pa* , • The acquisition of 100% stake in a • Brand promotion on TV and in print, Stainless Steel : 1,80,000# pa and • Offers a wide range of cutting distri
Slide 24: Board of Directors
Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik Chairman and Managing Director Independent Director He holds a BBA Degree from premier ' European University’ A Chartered Accountant, was a partner of a reputed Accounting firm - M/s After joining the company in 1993, he successfully steere
Slide 25: Awards & Certifications
Awards & Certifications FGI’s Award for ‘Best Exports IPF Fastest growing Manufacturing Performance & Promotion’ Company Award 03 04 If Design Award to Sternhagen SaniQ kristall Certificate for ‘Best CSR wash basin 02 05 practices’ by Rotary Club Award Certificate for 01 06 Manufacturing Innovation
Slide 26: Marketing campaign for Carysil Brand
Marketing campaign for ‘Carysil’ Brand ➢ Carysil has signed Bollywood celebrity ‘Vaani Kapoor’ for new marketing campaign #TheHeartofMyHome for its ‘Carysil’ Brand ➢ Under the ‘Carysil’ brand, company sells lifestyle kitchen sinks and built-in appliances ➢ Campaign #TheHeartofMyHome unveils a new ra
Slide 27: Increasing Product Portfolio
Increasing Product Portfolio Sinks Kitchen Appliances Product Segment Bathroom Suite Bath Fittings 27
Slide 28: Sinks
a Sinks
Slide 29: Only Company to make Quartz Sinks in Asia with German Technology
Only Company to make Quartz Sinks in Asia with German Technology Only Company Different Models Plant Capacity Many Outlets in Asia The only company in Asia and 4 plants having a combined Developed more than 150+ The brand is available in among a few companies capacity of 10,00,000* models to cater t
Slide 30: Stainless Steel Sinks – Quadro Sinks the Focus Area
Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: ~13% to Consolidated revenue* Production Capacity 1,80,000 sinks per annum^; Commercial production commencing from June’23 of 90,000 units Target Market for Quadro (Designer) Sinks Caters to high end segment who
Slide 31: Kitchen Appliances
Kitchen Appliances
Slide 32: Kitchen Appliances – Multifold Growth Opportunity
Kitchen Appliances – Multifold Growth Opportunity Chimneys Dish Washer Cook Tops Built in Ovens Product Portfolio Wine Chillers Cooking Range Microwave Owens Currently Hoods contributing ~5% to the Revenue* Manufacturing and Trading of Poised to become a significant player in the Appliances overall
Slide 33: Bath Segment
L Bath Segment
Slide 34: Bath Segment – Synergetic Move to Leverage Quartz Technology
Bath Segment – Synergetic Move to Leverage Quartz Technology FUNDAMENTALS OF THE BUSINESS ▪ Brand owned by Carysil’s Wholly owned Subsidiary in Germany, ‘Carysil GmbH’ ▪ 60+ Showrooms & SIS for displaying the products Product Range of Branding Synergy Innovation Achievements Details Products Synergy
Slide 35: Business Model
| Business Model
Slide 36: Moulds an Integral Part of Manufacturing Process
Moulds an Integral Part of Manufacturing Process Input Processing Output Purchase of Moulds All the Moulds are imported Production Capacity 10,00,000* units per annum Variety of Moulds ▪ Has more than 150 moulds Place: Bhavnagar, Gujarat ▪ 400+ SKU’s Made to Order Life of Moulds Made as per the cust
Slide 37: Domestic Presence - Strengthening of our Brands
Domestic Presence - Strengthening of our Brands With a strong focus on the domestic market, we are increasing our penetration domestically by expansion in dealer network pan India. Expanded dealer network to over 3,100 dealers Dealer Network 3,100+ 1,500+ 1,500+ 1,500+ 1,500+ 1,200+ 1,300+ 800+ 400+
Slide 38: Increasing Presence Across India
Increasing Presence Across India ✓ Increasing Penetration in domestic market through opening of many galleries across India ✓ Displaying vast range of ‘Carysil’ products ranging from kitchen sinks, chimneys, hobs, cooktops, faucets, dishwashers, etc. 38
Slide 39: Presence in UK through Carysil Products Ltd.
Presence in UK through Carysil Products Ltd. (formerly known as Acrysil Products Ltd.) Carysil ltd. holds 100% in Carysil Products Ltd. through Carysil UK Ltd. The name of Acrysil Products Ltd. has been changed to Carysil Products Ltd. Products sold under Carysil Products Ltd. Revenues (Mn. GBP) (fo
Slide 40: Further strengthened Presence in UK through Carysil Surfaces Limited
Further strengthened Presence in UK through ‘Carysil Surfaces Limited’ The acquisition is a natural and strategic fit for Carysil and will catapult the Company into new orbit of growth Acquisition Revenues (Mn. GBP) Covid Impact 14.0 13.9 14.6 12.7 Overview Deal & Consideration Rationale 10.9 12.3 1
Slide 41: Multiple Growth Drivers
Multiple Growth Drivers Strong Distribution Network Strengthen the Distribution network by tie up with Homestyle and Short Term STL, UK and plan to add new 100 galleries and 34 more distributor and increased dealer network to 3100+ dealers in FY23 Branding & Technology Focused on capturing the Brand
Slide 42: Historical Financials
Historical Financials
Slide 43: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue 593.9 483.9 309.7 276.2 Gain / (Loss) on Foreign Exchange 0.0 8.5 5.8 - Total Income 593.9 492.4 315.5 276.2 Raw Material 302.4 209.5 141.8 137.4 Employee Expenses 43.4 30.7 22.2 22.2 Other Expenses 139.2 137.5 7
Slide 44: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Non-current assets 351.4 245.8 170.3 138.8 Total Equity 307.0 256.9 194.0 160.2 Property Plant & Equipment 209.7 168.3 121.2 97.8 Share capital 5.4 5.3 5.3 5.3 Right to use of
Slide 45: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit For The Year 52.8 65.3 39.3 22.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 57.8 51.1 38.7 29.1 Operating profit before working capital changes 110.6 116.3 78.0 51.9 Changes in w
Slide 46: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) FY23 FY22 FY21 FY20 Revenue 335.7 388.0 248.3 214.4 Gain / (Loss) on Foreign Exchange 0.0 8.3 5.8 4.1 Total Income 335.7 396.3 254.2 218.5 Raw Material 145.4 163.6 110.2 103.7 Employee Expenses 25.8 22.3 16.0 16.7 Other Expenses 98.2 120.5 72
Slide 47: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Non-current assets 229.0 204.9 145.6 114.4 Total Equity 224.6 200.3 151.4 130.3 Property Plant & Equipment 175.1 147.0 104.9 83.8 Share capital 5.4 5.3 5.3 5.3 Right to use of as
Slide 48: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-23 Mar-22 Mar-21 Mar-20 Net Profit For The Year 25.6 51.5 26.6 12.8 Adjustments for: Non-Cash Items / Other Investment or Financial Items 43.1 44.3 34.0 25.3 Operating profit before working capital changes 68.7 95.8 60.6 38.1 Changes in worki
Slide 49: Regular Dividend Payout
Regular Dividend Payout Dividend 14.3% 13.6% 9.8% 10.2% Payout (excl. DDT) 24.3 19.6 14.7 8.4 2.0 2.4 2.0 1.2 FY20 FY21 FY22 FY23 EPS DPS The Board of Directors have recommended a final dividend of Rs. 2 per equity share for Financial Year 2022-2023 of FV Rs.2 (100% of FV) 49
Slide 50: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Carysil Ltd. Strategic Growth Advisors Pvt. Ltd. CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma – CFO Mr. Rahul Agarwal/ Mr. Mandar Chavan cfo@carysil.com rahul.agarwal@sgapl.net/ mandar.chavan@sg