V-guard Industries Limited · NSE:VGUARD
V-guard Industries — Q3 FY23 Earnings Presentation
19 slides from V-guard Industries's earnings presentation, Feb 2, 2023
Slide 1: Exchange submission letter for investor presentation
02-02-2023 The Manager The Manager Listing Department, Listing Department, BSE Limited, Phiroze Jeejeebhoy Towers, National Stock Exchange of India Limited, Dalal Street, Exchange Plaza, 5th Floor, Plot No. C/1, Mumbai- 400 001 G Block, Bandra-Kurla Complex, Bandra-East, Mumbai- 400 051 Ref:- Scrip
Slide 2: V-Guard Industries Q3 FY23 Earnings Presentation
V-Guard Industries Q3 FY23 Earnings Presentation
Slide 3: Disclaimer
2 Disclaimer Certain statements in this communication may be ‘forward looking statements’ within the meaning of applicable laws and regulations. These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those
Slide 4: Table of Contents
3 Table of Contents MD’s Message 04 Key Highlights 05-06 Financial Highlights 07-10 Segment-wise/Geographical Breakup of Revenues 11-13 Annexure 14-16
Slide 5: Managing Director's Message
4 Managing Director’s Commenting on the performance for Q3 FY23, Mr. Mithun Chittilappilly, Managing Director – V-Guard Message Industries Limited said, “We have reported revenues of Rs. 981 crore in Q3FY23, higher by 1.4% on a year-on-year basis. Revenue growth has been impacted by the high base in
Slide 6: Key Highlights – Q3 FY23
Key Highlights – Q3 FY23 5 Revenue increased by • Q3 FY23 revenue increased by1.4% YoY to Rs. 980.8 crore 1.4% YoY in Q3 FY23 • South markets witnessed a YoY decline of 5.2% whereas Non-South markets witnessed YoY growth of 10.5% • Non-South markets contributed to 45.6% of total revenues in Q3 FY23
Slide 7: Acquisition of Sunflame Enterprises
Acquisition of Sunflame Enterprises 6 • In line with V-Guard's strategy to become a significant player in the domestic Kitchen Appliances segment, the company acquired 100% shareholding of Sunflame Enterprises Private Limited (SEPL) on January 12, 2023 for an aggregate consideration of Rs. 680.33 Cr
Slide 8: P&L Snapshot
7 P&L Snapshot P&L Statement Q3 FY23 Q3 FY22 Change Q2 FY23 9M FY23 9M FY22 Change Particulars (Rs. Cr) (Rs. Cr) % (Rs. Cr) (Rs. Cr) (Rs. Cr) % Net Revenue 980.84 967.57 1.4% 986.55 2,985.90 2,441.02 22.3% COGS 690.70 666.02 3.7% 697.73 2,101.28 1,663.95 26.3% Gross Margin 29.6% 31.2% -1.6% 29.3% 29
Slide 9: Financial Highlights (Q3 FY23 vs. Q3 FY22)
8 Financial Highlights (Q3 FY23 vs. Q3 FY22) Total Income (Rs. crore) Gross Profit 302 290 968 981 Key ratios (%) Q3 FY23 Q3 FY22 Gross Margin 29.6% 31.2% 1.4% -3.8% EBITDA Margin (excl. other income) 6.7% 9.0% Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 Net Margin 4.0% 5.6% Ad & Promotion Exp./ Total Revenues
Slide 10: Financial Highlights (9M FY23 vs. 9M FY22)
9 Financial Highlights (9M FY23 vs. 9M FY22) Total Income (Rs. crore) Gross Profit 2,986 885 2,441 777 Key ratios (%) 9M FY23 9M FY22 Gross Margin 29.6% 31.8% 22.3% 13.8% EBITDA Margin (excl other income) 7.4% 9.4% 9M FY22 9M FY23 9M FY22 9M FY23 Net Margin 4.6% 5.7% Ad & Promotion Exp./ Total Reven
Slide 11: Financial Highlights – Balance Sheet Perspective
Financial Highlights – Balance Sheet Perspective 10 Balance Sheet Snapshot (Rs. Cr) 31 December 2022 30 September 2022 31 December 2021 Net Worth 1,503.3 1,460.4 1,311.0 Gross Debt 116.7 10.0 10.0 Current Investments 325.5 100.6 0.0 Cash & Cash Equivalents (inc. bank balance) 130.8 69.5 45.7 Net Cas
Slide 12: Segment-wise Breakup – Q3 FY23 vs. Q3 FY22
11 Segment-wise Breakup – Q3 FY23 vs. Q3 FY22 Q3 FY23 Q3 FY22 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 191.35 19.5% 199.91 20.7% -4.3% Electricals 435.82 44.4% 429.23 44.4% 1.5% Consumer Durables 353.67 36.1% 338.43 35.0% 4.5% Grand Total 980.84
Slide 13: Segment-wise Breakup – 9M FY23 vs. 9M FY22
12 Segment-wise Breakup – 9M FY23 vs. 9M FY22 9M FY23 9M FY22 YoY growth Segment Revenue Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) Electronics 722.27 24.2% 568.24 23.3% 27.1% Electricals 1,273.53 42.7% 1,104.94 45.3% 15.3% Consumer Durables 990.10 33.2% 767.84 31.5% 28.9% Grand Total 2
Slide 14: Geographical Breakup of Revenues
13 Geographical Breakup of Revenues Q3 FY23 Q3 FY22 YoY growth Region Contribution (%) Contribution (%) (Rs. Cr) (Rs. Cr) (%) South 533.93 54.4% 563.29 58.2% -5.2% Non-South 446.91 45.6% 404.28 41.8% 10.5% Total Revenue 980.84 100% 967.57 100% 1.4% 9M FY23 9M FY22 YoY growth Region Contribution (%)
Slide 15: Annexure
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Slide 16: Market Overview of V-Guard's Product Portfolio
15 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Electronics Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Microtek, Livguard, Stabilizers 1,700-1,800 55-60% 7-8% 42-45% Bluebird Luminous, Microtek, DUPS & Batte
Slide 17: Market Overview of V-Guard's Product Portfolio
16 Market Overview of V-Guard’s Product Portfolio Total Market Size Indicative Org. Industry Growth VG Share in Appliances Product Key Players (Rs. Crs.) Market Size (%) Rate (%) Org. Market (%) Water Heaters 2,500-2,600 65-70% 10-12% 14-16% Havells, Bajaj, Crompton, Racold Crompton, Usha, Havells,
Slide 18: About V-Guard Industries
17 About V-Guard Industries V-Guard Industries Limited (BSE:532953, NSE: VGUARD) is a Kochi based company, founded in 1977 by Kochouseph Chittilapilly to manufacture and market Voltage stabilizers. The Company has since then established a strong brand name and aggressively diversified to become a mu
Slide 19: Thank You
THANK YOU