Slide 1: Exchange filing cover letter
August 15, 2023 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block - G, Dalal Street, Bandra Kurla Complex, Mumbai - 400 001 Bandra (East), Mumbai - 400 051 Scrip Code: 543212 Symbol: BOROLTD Dear Sirs, Sub: Investor Presentation Pursuant to Re
Slide 2: Investor Presentation Q1FY24
Borosil Limited Investor Presentation Q1FY24 Borosil Investor presentation - Q1FY24 01
Slide 3: Safe Harbour Statement
Safe Harbour Statement “ This investor presentation has been prepared by Borosil Limited (”Borosil” or “Company”) on a strictly con dential basis. Certain statements in this presentation may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward looking
Slide 4: About Borosil
About Borosil Brand with a 50+ year legacy Enjoys strong consumer equity in serving-ware, kitchen appliances and storage National leader in laboratory glassware Borosil Investor presentation - Q1FY24 03
Slide 5: Vision
Vision To be the most customer-centric company in India Offer products that perform beautifully Develop innovative products to meet evolving customer needs Be a dependable partner that creates value for customers Nurture long-term relationships with all stakeholders Borosil Investor presentation - Q1
Slide 6: Re-Imagining Consumer Products Division
Re-Imagining Consumer Products Division Glass Products Consumer Brands Company Company Daily Use Occasional Use (Serving ware, Storage, (Microwavable) Appliances) Single Brand Adding Brands BOROSIL BOROSIL, LARAH General Trade General Trade Modern Trade E-Commerce Borosil Investor presentation - Q1F
Slide 7: Re-Imagining Scientific Products Division
Re-Imagining Scienti c Products Division Single Brand Four Brands BOROSIL, LabQuest, BOROSIL Klasspack, Goel Lab Glassware Lab Glassware Only Lab Instruments Pharma Packaging Process Chemistry Domestic Business Domestic Business International Business Borosil Investor presentation - Q1FY24 06
Slide 8: Journey Over Last 6 Years
Journey Over Last 6 Years Operating SALES CAGR : 19% EBITDA CAGR : 20% 1027 149 436 61 2017-18 2022-23 2017-18 2022-23 The gures are in INR Crore Borosil Investor presentation - Q1FY24 07
Slide 9: Financial Overview Q1FY24 (Consolidated)
Financial Overview Q1FY24 (Consolidated) INR Crore Q1 FY23 Q1 FY24 Growth % Net Sales 216.2 250.6 15.9% EBITDA 34.2 28.3 (17.5)% EBITDA 29.2 (Before exceptional and one time items) 31.2 6.9% EBITDA (%) 13.5% 12.4% EBIT (28.9)% 21.2 15.1 (Before exceptional and one time items) PBT 26.1 10.0 (61.5)% P
Slide 10: Financial Overview Q1 FY24 Consumerware Division
Financial Overview Q1 FY24 Consumerware Division INR Crore Q1 FY23 Q1 FY24 Growth % Net Sales 148.7 176.2 18.4% EBITDA 21.7 27.1 24.5% EBITDA 27.7 47.1% (Before exceptional and one time items) 18.8 EBITDA (%) 12.7% 15.7% EBIT 13.4 15.4 15.1% (Before exceptional and one time items) PBT 16.2 13.5 (16.
Slide 11: Category wise sales (Consumerware)
Category wise sales (Consumerware) INR Crore Q1 Q1 Category FY23 FY24 Growth % Glassware 40.7 39.2 ( 3.6)% Non Glassware 59.5 70.8 19.0% Opalware 48.6 66.2 36.2% Total Consumerware 148.7 176.2 18.4% Borosil Investor presentation - Q1FY24 10
Slide 12: Financial Overview Q1FY24 Scientific Division (Consolidated)
Financial Overview Q1FY24 Scienti c Division (Consolidated) INR Crore Q1 FY23 Q1FY24 Growth % Net Sales 67.5 74.4 10.2% EBITDA 12.4 4.0 (67.5)% EBITDA (Before exceptional and one time items) 10.3 6.3 (38.2)% EBITDA (%) 15.2% 8.5% EBIT 7.7 2.5 (67.3)% (Before exceptional and one time items) PBT 9.8 (
Slide 13: Category wise sales (Scientific)
Category wise sales (Scienti c) INR Crore Q1 Q1 Category FY23 FY24 Growth % Laboratory Glassware 41.5 42.8 3.2% Lab Instrumentation 5.4 6.7 24.7% Pharma Packaging 20.7 17.1 (17.4)% Process Chemistry - 7.8 - Total Scienti c 67.5 74.4 10.2% Borosil Investor presentation - Q1FY24 12
Slide 14: Rationale for Restructuring
Rationale for Restructuring Both businesses already run as separate pro t centers with largely differentiated teams Both businesses have different capital and operating requirements Different organic and inorganic growth potential and capital raising requirements Each business has a different investor p
Slide 15: Restructuring Process
Restructuring Process Steps for making effective composite scheme for arrangement Expected Activity Timeline Board approval of the companies involved in the Scheme Completed Submission of Scheme along with supporting documents to BSE & NSE Completed BSE & NSE shall issue a Observation Letter / NOC af
Slide 16: Current Holding Structure
Current Holding Structure Promoters Public 70.28% 29.72% BL (CP and SIP Business) 82.49% 100% KPL BTL 90.17% GSGWL - Borosil Limited ( ‘BL’ or ‘Demerged Company’) (listed on BSE and NSE). - Klass Pack Limited (’KPL’ or Resulting Company / Transferee Company’) is a 82.49% subsidiary of BL. - Borosil
Slide 17: Resultant Holding Structure
Resultant Holding Structure Promotors Promoters Public Promotors Promoters Public 70.28% 29.72% 29. 68.01% 31.99% BorosilBL Limited Borosil Scienti BL c Limited (CP (CP andBusiness) SIP Business (CP(SIP andBusiness) SIP Business 90.17% Goel Scienti c Glass Works Limited - It is proposed to demerge S
Slide 18: Consumer Products Division
Consumer Products Division Borosil Investor presentation - Q1FY24 17
Slide 19: Borosil Range - Storage, Cooking, and Serving Needs of a Modern Kitchen
Borosil Range - Storage, Cooking, and Serving Needs of a Modern Kitchen Expanding from being synonymous with microwavable glass to storage, serving-ware, and domestic appliances PREPARE COOK SERVE HEAT STORE Contemporary Everyday Use Performs Beautifully Ally to the progressive homemaker Borosil Inv
Slide 20: Market Opportunity - Consumer Products
Market Opportunity - Consumer Products Category Market Size - Branded (Crs.) Market Growth % Glass Microwavables 230 10% Tumblers 520 10% Storage 700 15% to 20% Insulated Bottle Range 1100 10% Opalware 900 15% to 20% Tea / Coffee 400 (Incl ceramicware) 15% Domestic Appliances 9000 10% Estimated marke
Slide 21: Consumer Products Division Growth Theme
Consumer Products Division Growth Theme Made in India - Enhance/ build manufacturing capacity for Opal Glass and Borosilicate Glass New product development To promote Borosil glassware for daily use To make glassware affordable for mass consumers Borosil Investor presentation - Q1FY24 20
Slide 22: Ally Of Progressive Homemaker
Ally Of Progressive Homemaker #Morning Prep, Chai, Breakfast Appliances Storage 6 AM Dinnerware Cookware #Dinner Prep, Evening Tea, 9 9 #Lunch, Dinner Serving PM AM Husband, Kids Borosil Consumer Pro le: Progressive Homemaker SEC A1-A2 Lunch Box Urban Metro, Mini Metros, A & B Cities Age Group : 25-
Slide 23: Some Key Large Format Store - Trade Partners
Some Key Large Format Store - Trade Partners Borosil Investor presentation - Q1FY24 22
Slide 24: Some Key Institutional Customers
Some Key Institutional Customers Borosil Investor presentation - Q1FY24 23
Slide 25: Consumer Products Portfolio - Growth Pillars
Consumer Products Portfolio - Growth Pillars Core microwavable Larah-Opalware dinnerware: Storage products: products Mass market/daily use Domestic appliances Kitchen & on the go Bring more users Upgrade consumers from Convert from plastics Expand range into category Melamine etc.. Invest in awarene
Slide 26: Larah Opalware - Category Gaining Salience
Larah Opalware - Category Gaining Salience #2 player in approx. INR 900 cr category Adoption being led by - Gained share - Urbanization and nuclearization of families - Increase in entertaining guests at home Focus on market expansion Capacity expansion - Healthier, economic and aesthetic alternativ
Slide 27: Storage Range - Thoughtful Products Creating A New Pillar of Growth
Storage Range - Thoughtful Products Creating A New Pillar of Growth Indian kitchen storage dominated by plastic and steel - Very low penetration of glass storage Awareness of glass as a superior option on the rise - No health hazard as in some type of plastic - Transparent as against opaque steel &
Slide 28: Domestic Appliances - New Engine of Growth
Domestic Appliances - New Engine of Growth - Large market with growth accelerated post Covid - Opportunity to create a high quality mass premium range leveraging the Borosil brand - Commenced without investments in manufacturing assets - Expanding range of product offerings - Increase Made in India p
Slide 29: Consumer Products - Medium-Term Thrust Areas
Consumer Products - Medium-Term Thrust Areas Achieve revenue CAGR of more than 20% Become brand of consumer choice - Increase penetration of glass storage and Opalware - Maintain investments in brand building - Introduce high-quality & innovative To-Go storage - Introduce new and improved range of p
Slide 30: Scientific Products
Scienti c Products Borosil Investor presentation - Q1FY24 29
Slide 31: Scientific Products Range
Scienti c Products Range Laboratory Lab Pharma Glassware Instrumentation Packaging - Volumetric asks - Magnetic Stirrer - Glass Vials - Burettes - Block Digester - Glass Ampoules - Pipettes - Multi-Tube Vortexer - Liquid handling systems Borosil Investor presentation - Q1FY24 30
Slide 32: Market Opportunity - Scientific Products
Market Opportunity - Scienti c Products Lab Glassware Lab Glassware Lab Pharma Packaging India Exports Instrumentation (Vials & Ampoules) Market size 250 4000 570 1175 (INR Cr.) Estimated market ~8-10% ~2-3% ~8-10% ~10-12% growth Pharma R&D & QC, Pharma R&D, QC Pharma R&D & QC, Pharma companies Cust
Slide 33: Scientific Products Division Growth Theme
Scienti c Products Division Growth Theme Made in India - Build manufacturing capacity for raw material - tubing production New product development Substantially enhance capacity for ampoules and vials production Borosil Investor presentation - Q1FY24 32
Slide 34: Scientific Products - Some Key Customers
Scienti c Products - Some Key Customers Borosil Investor presentation - Q1FY24 33
Slide 35: Scientific Products Portfolio - Growth Pillars
Scienti c Products Portfolio - Growth Pillars Core laboratory LabQuest benchtop Klasspack: primary glass International expansion for glassware instruments packaging for pharma lab glassware industry Steady Business with New product range to New product range to Focus on Middle East, Africa, modest g
Slide 36: Scientific Products: Medium-Term Thrust Areas
Scienti c Products : Medium-Term Thrust Areas Achieve revenue CAGR of ~15% - Maintain dominant share in pharma lab glassware - Build export market in Lab Glassware & pharma packaging - Drive import substitution in Lab Instrumentation - increase product range - Add new customers & products in vials &
Slide 37: Scientific Products - Laboratory Glassware
Scienti c Products - Laboratory Glassware Meeting wide product range need of customer - Single supplier convenient for laboratory for multiple critical yet low priced SKUs - Not easily replicable by competition - Reliable supplier for right quality at competitive cost -Expansion into customized lab
Slide 38: Scientific Products - Lab Instrumentation
Scienti c Products - Lab Instrumentation Portfolio of Lab Essentials, Nutrition & Environment, Life Sciences, analytical Chemistry Leverage existing reach among pharma customers with new products in their existing work ow Build technological advantage through Borosil Technologies with focus on Nutri
Slide 39: Klasspack: Primary Packaging for Pharma
Klasspack: Primary Packaging for Pharma Glass ampoules & tubular glass vials for packaging pharmaceutical products Applications: Packaging of injectable formulations, ophthalmic, dental products, sample carrier for analytical instruments Provides Borosil’s pharmaceuticals customers credible second a
Slide 40: Acquisition Process Chemistry Business of Goel Scientific
Acquisition Process Chemistry Business of Goel Scienti c Borosil Investor presentation - Q1FY24 39
Slide 41: About Process Systems
About Process Systems Process systems refers to systems and components that can aid a chemical process at laboratory, pilot or plant scale. Glass and glass lined components are preferred for process systems due to their inertness. Process Systems Application Dissolution of Solids Chemical Reactions
Slide 42: Types of Process Systems
Types of Process Systems Batch Kilo Labs & Industrial Systems Reactors Pilot Plants Borosil Investor presentation - Q1FY24 41
Slide 43: Goel Scientific - Background
Goel Scienti c - Background Goel Scienti c Glass Works Ltd (GSGWL), one of India’s leading scienti c glass fabricators and exporter. GSGWL are experts in design, fabrication and installation of Industrial Process Systems for Production Plant and Pilot Plants Dedicated team of glass blowers with hand
Slide 44: Goel Scientific - Industry Segments
Goel Scienti c - Industry Segments Chemical Industry Research & Development Pigment and Dies Pharmaceutical Perfumery Industry Fertiliser Industry Precious Metal Essential Oils Borosil Investor presentation - Q1FY24 43
Slide 45: Goel Scientific - Industrial Process Systems
Goel Scienti c - Industrial Process Systems Shell & Tube Heat Exchangers Industrial Glass Column Sections Industrial Glass Pipe Sections Borosil Investor presentation - Q1FY24 44
Slide 46: Objective and Effects of Acquisition
Objective and E ects of Acquisition Borosil GSWL Borosil + GSWL Expertise & market Leader in Expertise in Chemical Process With this union the Goel skill backed by Borosil investment Systems, Reactors & Accessories muscle, we have a potential of becoming the the world's Laboratory Glasswares & Equip
Slide 47: Synergies of Proposed Acquisitions
Synergies of Proposed Acquisitions Revenue Potential Leveraging GSWL lower overheads & glass blowing expertise to Target International OEMs Lab glassware supplies Tube made bottles of large sizes & odd capacities e.g 15 L , 25 L , Customized sizes & capacities for domestic Lab Glassware customers. G
Slide 48: Our understanding of ESG
Our understanding of ESG ESG for us is about how we create pro ts. It is outcome driven and not just good intentions. Environment Social Governance - Emissions - Employee health - Risk management Investors - Water and safety system - Energy - Labour practices - Code of conduct - Customer relation -
Slide 49: Borosil 2.0: Leading a responsible tomorrow
Borosil 2.0: Leading a responsible tomorrow Borosil Limited is on a transformational journey to address key ESG opportunities and create long term value for our customers. Our strategic ESG priorities Our actions Social - Completed GHG monitoring and inventorization to track emissions - Aim to achie
Slide 50: Board of Directors
Board of Directors Pradeep Kumar Kheruka Shreevar Kheruka Rajesh Kumar Chaudhary Chairman Vice Chairman & M.D & CEO Whole Time Director Anupa Rajeev Sahney Kewal Kundanlal Handa Kanwar Bir Singh Anand Naveen Kumar Kshatriya Independent Director Independent Director Independent Director Independent D
Slide 51: Equity Information
Equity Information No. of Shares issued of Re. 1 each: 11,44,27,683 Share holding pattern 70.28% Promoters 1369812D:IN BOROLTD 27.38% Others 543212 INR 4834 Cr as on - 30 June 2023 : 0.20% Other 2.14% Foreign portfolio investors Borosil Investor presentation - Q1FY24 50
Slide 52: Investors Relations Details
Investors Relations Details Company’s Address Company’s Website Borosil Limited www.borosil.com 1101, Crescenzo, G - Block, www.myborosil.com Opposite MCA Club, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051, India. Investor Relations Anand Sultania, Chief Financial Officer (anand.sultania@bo
Slide 53: Thank You
Thank You Borosil Investor presentation - Q1FY24 52