Pidilite Industries Limited · NSE:PIDILITIND
Pidilite Industries — Q4 FY2024 Earnings Presentation
26 slides from Pidilite Industries's earnings presentation, May 7, 2024
Slide 1: Cover letter to stock exchanges
7th May, 2024 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 Code
Slide 2: Q4 & FY 24 Earnings Presentation
Q4 & FY 24 Earnings Presentation 1
Slide 3: Our Brands
OUR BRANDS FAVICDL revikwi® meseal’ off an a en > Araldite EET wo el LITOKOL
Slide 4: 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 5: Performance Overview
PERFORMANCE OVERVIEW ➢ For the current quarter, UVG was 15.2% with 12.7% UVG in C&B businesses and 25.2% UVG in B2B businesses. Gross Margins in the quarter was higher by 691 bps compared to last year same quarter. ➢ EBITDA Margin for the quarter was 20.5% as compared to 18.4% last year. ➢ Current y
Slide 6: Performance Overview
PERFORMANCE OVERVIEW ➢ Despite the global economic uncertainty, inflation and political instability in some countries, International subsidiaries (excluding Pidilite USA and Pulvitec Brazil) revenues for the year grew by 7.8% over FY23 with EBITDA Margins improving from 10.8% to 14.8%. ➢ Domestic C&
Slide 7: Financial Highlights
FINANCIAL HIGHLIGHTS 6
Slide 8: Earnings Summary FY'24
EARNINGS SUMMARY FY’ 24 NET SALES EBITDA* PBT* PAT # CONSOLIDATED Rs. 12,337 Cr Rs. 2,707 Cr Rs. 2,451 Cr Rs. 1,747 Cr YOY GROWTH 5.0% 36.4% 42.2% 35.6% STANDALONE Rs. 11,118 Cr Rs. 2,550 Cr Rs. 2,397 Cr Rs. 1,799 Cr YOY GROWTH 5.4% 37.4% 43.7% 43.1% *EBITDA is before non-operating income. PBT is Pr
Slide 9: Earnings Summary Q4 FY24
EARNINGS SUMMARY Q4’ FY24 NET SALES EBITDA* PBT* PAT # CONSOLIDATED Rs. 2,890 Cr Rs. 577 Cr Rs. 498 Cr Rs. 304 Cr YOY GROWTH 8.1% 25.7% 26.8% 6.4% STANDALONE Rs. 2,576 Cr Rs. 528 Cr Rs. 463 Cr Rs. 354 Cr YOY GROWTH 8.9% 21.0% 19.2% 21.9% *EBITDA is before non-operating income. PBT is Profit before t
Slide 10: Segment Summary - Standalone
SEGMENT SUMMARY - STANDALONE (in INR Crores) Sr. No. PARTICULARS Q4 23 Q4 24 Growth (%) FY 23 FY 24 Growth (%) 1 Segment Sales a) C&B 1,870 2,015 7.8% 8,455 9,032 6.8% b) B2B 532 599 12.6% 2,215 2,238 1.0% c) Others 21 12 -43.0% 102 61 -40.3% Total 2,423 2,626 8.4% 10,772 11,331 5.2% Less : Inter Se
Slide 11: Overseas Subsidiaries Performance FY'24
OVERSEAS SUBSIDIARIES PERFORMANCE FY’24 (in INR Crores) Asia Sales 2% 311.9 317.9 18% EBITDA 60.6 51.4 Middle East and Africa Sales 15% 211% EBITDA 282.3 245.3 28.5 9.2 i) The above numbers are at constant currency, excluding translation and consolidation adjustments. ii) Amounts in ‘bold ‘denotes C
Slide 12: Overseas Subsidiaries Performance Q4 FY'24
OVERSEAS SUBSIDIARIES PERFORMANCE Q4 FY’24 (in INR Crores) Asia Sales 4% 80.1 83.7 45% EBITDA 17.8 12.3 Middle East and Africa Sales 12% EBITDA 167% 67.3 75.0 9.3 3.5 i) The above numbers are at constant currency, excluding translation and consolidation adjustments. ii) Amounts in ‘bold ‘denotes CY
Slide 13: Domestic Subsidiaries Performance FY'24
DOMESTIC SUBSIDIARIES PERFORMANCE FY’24 (in INR Crores) NET SALES EBITDA 21% 10% 4% 315% 12 EBITDA is before exceptional items. Figures are reported excluding consolidation adjustments.
Slide 14: Domestic Subsidiaries Performance Q4 FY'24
DOMESTIC SUBSIDIARIES PERFORMANCE Q4 FY’24 (in INR Crores) NET SALES EBITDA 150 10% 8% 40 19% 289% 114.8 104.2 30 96.2 100 89.1 20 17.4 50 11.5 9.4 10 4.5 0 0 C&B B2B C&B B2B Q4 FY 23 Q4 FY 24 Q4 FY 23 Q4 FY 24 13 EBITDA is before exceptional items. Figures are reported excluding consolidation adjus
Slide 15: Industry Segment Composition
INDUSTRY SEGMENT COMPOSITION 3.4% 82.5% 8.4% Consumer & Pigment & Bazaar products Industrial Resins, Preparations Construction chemicals (Project) etc. 17.0% Business to Business 0.5% products Others 5.2% 0.5% Industrial Others Adhesives 6.0% Art & Craft Materials etc. 55.5% Adhesives & 21.0% Sealan
Slide 16: 5-Year Performance by Business Segments (Standalone)
5-Year Performance by Business Segments (Standalone) Numbers represent Percentage of Total Sales Consumer and Bazaar (C&B) Business to Business (B2B) B2B includes Others also 84% 22% 82% 20% 20% 82% 81% 81% 20% 19% 19% 80% 80% 80% 18% 18% 78% 16% 76% 14% 74% 72% 12% 70% 10% 2019-20 2020-21 2021-22 2
Slide 17: Company at a Glance
COMPANY AT A GLANCE Brand established in Adhesives & sealants, History of creating Among the most trusted brands 1959 construction chemicals, strong brands in the country. Other big brands Pioneer in Consumer & art & craft products & include M-Seal, Fevikwik, Fevistik, Specialty Chemicals polymer em
Slide 18: Domestic Presence
DOMESTIC PRESENCE INDIA OPERATIONS 6,100+ SKUs of 870+ products Domestic Revenue of Rs. 10,342 Cr for FY24 33 plants, 32 Co-makers 5,250+ distributors 46 warehouses 7 regional offices & 5 RDCs 13 domestic subsidiaries (including 1 partnership firm) and 7 associates 17
Slide 19: Creating Value by Creating Categories
Creating Value by Creating Categories 0 CORE GROWTH PION EER Established Brands Emerging categories Nascent Categories with high market with significant potential with huge market maturity and strong for market growth or creation opportunity share position share gain 1-2X GDP 2-4X GDR__ 100 Crores r
Slide 20: 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 21: Connecting Digitally
CONNECTING DIGITALLY Mumbai Coastal Road Surat Diamond Bourse 20
Slide 22: Celebrating Occasions - Digital Way
CELEBRATING OCCASSIONS- DIGITAL WAY 21
Slide 23: Share Holding Pattern - 31st March 2024
SHARE HOLDING PATTERN- 31st March 2024 15.32% Promoters Mutual Funds 11.31% FPIs Others 3.60% 69.77% 22
Slide 24: Share Price Movement
SHARE PRICE MOVEMENT 135 130 125 120 115 110 105 100 95 90 Pidilite Sensex Rebased to 100 23
Slide 25: Consistent Dividend Payouts
CONSISTENT DIVIDEND PAYOUTS 50% 44.5% 42.7% 40.6% 39.9% 40% 36.9% 30% 20% 10% 0% FY19 FY20 FY21 FY22 FY23 FY 24: The Board of Directors have proposed a final dividend of Rs. 16 Per share (Dividend Payout - 45.4%), subject to approval of shareholders at the AGM. Note: The Net Profit considered for ab
Slide 26: Investor Relations
CIN : L24100MH1969PLC014336 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 25
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