Shalimar Paints Ltd · NSE:SHALPAINTS
Shalimar Paints — Q4 FY2023 Earnings Presentation
23 slides from Shalimar Paints's earnings presentation, May 30, 2023
Slide 1: Intimation of earnings presentation to BSE and NSE
May 30, 2023 BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department, Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G- Block Rotunda Building, P.J. Towers, Bandra Kurla Complex, Bandra (E), Dalal Street, Fort, Mumbai - 400 001 Mumbai – 400051 BSE Sc
Slide 2: Shalimar Paints Limited Earnings Presentation May 2023
Shalimar Paints Limited Earnings Presentation May 2023
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Shalimar Paints 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 secu
Slide 4: Contents
Contents Company Overview New Initiatives Performance Snapshot 3
Slide 5: Company Overview
Company Overview 11,835 ₹ 139.3 28.0 % ₹ -2.60 Q4FY23 Volume (KL) Revenue (Rs cr) Gross Margin (%) EBITDA (Rs cr) 13% YoY 29% YoY Improvement of 2 % Q-o-Q 41,506 ₹ 492.8 27.0 % ₹ -7.54 FY2023 Volume (KL) Revenue (Rs cr) Gross Margin (%) EBITDA (Rs cr) 12% YoY 36 % YoY Improvement of 2 % Y-o-Y 4
Slide 6: Our Product Offerings
Our Product Offerings Decorative Paints Industrial Paints • An extensive range of decorative and • Pioneers in Industrial coatings - protective paint products for interior and Introduced notable firsts in high exterior segments performance coatings such as high- build zinc coatings, radiation resist
Slide 7: Product Performance
Product Performance Decorative Paints Industrial Paints Q4FY23 FY2023 Q4FY23 FY2023 8,011 28,966 3,824 12,540 Volume (KL) Volume (KL) Volume (KL) Volume (KL) 7.0 % YoY 6.0 % YoY 27.0 % YoY 27.0 % YoY ₹ 80 ₹ 285 ₹ 55 ₹ 191 Net Revenue (Rs cr) Net Revenue (Rs cr) Net Revenue (Rs cr) Net Revenue (Rs cr
Slide 8: New Initiatives
SHALIMAR PAINTS New Initiatives
Slide 9: Promo Product Launch: Masking Film
PROMO PRODUCT LAUNCH: MASKING FILM OBJECTIVE: MARKET TESTING PROMO SCHEME LAUNCHED: Buy 20L of Stay Clean between 18th and 25th April Get 1 Shalimar Masking Film
Slide 10: Packaging Upgrades in Q4
Packaging Upgrades in Q4 Premium Water based Emulsions – New packaging going in production from May SHAKTI WTCP WA L L We a t h e r Signature X t r a To u g h PUTTY PRO+ 9
Slide 11: FY23: New Dealer performance
FY23 : New Dealer performance 1458 47.63 Crs 13% CONTRIBUTION TO NET SALE NEW DEALERS SALE 428 17.67 4.54 4.67 378 14.45 334 318 10.90 2.54 1.38 4.61 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY23 Q2FY23 Q3FY23 Q4FY23 New Dealer Additions Sales (in Crores) from new dealers Yield per
Slide 12: Performance Snapshot
SHALIMAR PAINTS U Periormance snapsnot
Slide 13: Decorative Paint Performance
Decorative Paint Performance Historical Decorative Paint performance : Y-o-Y Value growth (in Cr) every quarter 91% 23% 23% +28% +36% Gross Revenue 84 87 90 92 353 Rs. In Crs 71 73 72 260 44 Q1FY22 Q1FY23 Q2FY22 Q2FY23 Q3FY22 Q3FY23 Q4FY22 Q4FY23 FY22 FY23 23% -2% 1% +7% +6% Volume (KL) 6,675 7,360
Slide 14: Industrial Performance
Industrial Performance Historical Industrial performance : Y-o-Y Value growth (in Cr) every quarter 44% 47% 39% +22% Gross +36% Revenue 39 47 50 55 191 Rs. In Crs 45 27 32 36 140 Q1FY22 Q1FY23 Q2FY22 Q2FY23 Q3FY22 Q3FY23 Q4FY22 Q4FY23 FY22 FY23 Volume 23% 31% 29% +27% +27% (KL) 3,824 12,540 2,595 3,
Slide 15: Category Saliency
Category Saliency Category Mix 120% 29% 5% 100% Emulsions 30% 80% 38% 47% 60% 70% 38% 9% 62% 53% Solvents 40% 35% 29% 20% 24% 0% 62% 9% Industry LY Category Mix TY Category mix Water base Benchmark Water Base Solvent Base 14
Slide 16: Decorative Paints: Strategy Going Ahead
Decorative Paints: Strategy Going Ahead Focus on areas Progress over last a year having significant presence Cost Reduction: • Cost saving due to optimization of water & solvent- based paints Focus on smaller • Margin improvement plan is in place Tier 3 & 4 towns • No extra material addition and r
Slide 17: Positive outcome on financial performance
Positive outcome on financial performance Improvement in Net Revenue REVENUE Net Revenue growth of 36% v/s last year largely contributed by 31% growth in Industrial Segment and 28% in Decorative Segment 492.8 Increase in the dealer network and number of depots across the country Increase in th
Slide 18: Cost Trend
Cost Trend Other Expense Cost’ % to Net Sales 96.7 90.3 73.9 72.4 OTHER EXPENSE 67.3 68.0 70.6 62.5 COGS 27.9% 18.8% 19.4% 18.3% % to Net Sales FY20 FY21 FY22 FY23 Rs. In Crs FY20 FY21 FY22 FY23 53.4 48.7 22.3 EMPLOYEE COST 41.5 19.9 36.7 19.0 INTEREST 15.9 14.1% 11.4% 11.0% 10.8% Rs. In Crs FY20 FY
Slide 19: Consolidated Profit & Loss Statement Q4 FY23
Consolidated Profit & Loss Statement Q4 FY23 Particulars (Rs. Crs) Q4FY23 Q4FY22 Q3FY23 Revenue from Operations 135.8 105.6 129.1 Revenue: o Company has reported revenue growth of 29.5% from previous year which is Other Income 3.5 1.9 1.0 Q4FY22. Total Income 139.3 107.6 130.1 o During this quarte
Slide 20: Profit & Loss Statement
Profit & Loss Statement Particulars FY23 FY22 Revenue from Operations 492.8 363.1 Cost of Materials Consumed 345.6 252.5 Purchase of Traded Goods 24.5 17.9 Changes in Inventories of Finished Goods and Work in Progress -13.4 -1.9 Gross Profit 136.2 94.2 GP % 27.6% 26.0% Employee Benefits Expense 53.4
Slide 21: Balance Sheet
Balance Sheet Balance Sheet – ASSETS (Rs cr) Mar-23 Mar-22 Balance Sheet - EQUITY & LIABILITIES (Rs cr) Mar-23 Mar-22 Property, Plant and Equipment 252.1 253.7 Equity Share Capital 14.4 14.4 Right of Use Assets 16.7 17.7 Other Equity 338.1 336.4 Capital Work-in-progress 1.7 0.2 Total Equity 352.6 35
Slide 22: Cashflow Statement
Cashflow Statement Cash Flow Statement Mar-23 Mar-22 Cash Flow from Operating Activities Profit before Tax (36.2) (60.9) Adjustment for Non-Operating Items (25.3) (42.9) Operating Profit before Working Capital Changes (10.8) (18.1) Changes in Working Capital (36.6) (43.5) Cash Generated from Operati
Slide 23: Thank You
Thank You Company : Investor Relations Advisors : Shalimar Paints Limited Orient Capital (a division of Link Group) CIN: L24222HR1902PLC065611 Mr. Ronak Jain Mr. Mohit Kumar Donter – Chief Financial Officer +91 98209 50544 mohit.donter@shalimarpaints.com ronak.jain@linkintime.co.in www.shalimarpaint