Stove Kraft Ltd. · NSE:STOVEKRAFT
Stove Kraft — Q4 FY24 Earnings Presentation
32 slides from Stove Kraft's earnings presentation, May 24, 2024
Slide 1: Exchange filing cover letter for investor presentation
24 May 2024 BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex Mumbai- 400 001 Bandra (E), Mumbai - 400 051 Scrip Code: 543260 NSE Symbol: STOVEKRAFT Dear Sir / Madam, Sub: Investor Presentation for C
Slide 2: Stove Kraft Limited Q4 & FY24 Investor Presentation
STOVE KRAFT LIMITED Q4 & FY24 INVESTOR PRESENTATION
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Stove Kraft Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or induce
Slide 4: Q4 & FY24 Financial Performance
“ ” The only way to do great work is to love what you do - Steve Jobs Q4 & FY24 FINANCIAL PERFORMANCE
Slide 5: Macro Economy Update
Macro Economy Update Growth outlook for Global India’s retail inflation (CPI) at Economy looks sluggish 4.85% in Mar’24 Demand in Domestic Market was Core Inflation at 3.34% in dull due to Assembly Election Mar’24– Stability at RM Price during Q4 Wallet Share a major concern Demand seems uplifted in
Slide 6: Q4FY24 Key Operational Highlights
Q4FY24 Key Operational Highlights 01 Significant volume growth of 9.4% at FY24 YoY Comparison 02 Double digit volume growth across product categories except LED on YoY for Quarter 4 03 Improved Gross Margin at 36.9% in FY24, increased significantly by 19. 9% as compared to same period previous year
Slide 7: Improving Financial Health
Improving Financial Health Gross Profit Margins EBITDA Margins PAT Margins 35.0% 36.9% 13.2% 9.5% 34.0% 31.9% 32.7% 8.3% 8.7% 7.7% 4.9% 5.0% 2.8% 2.5% 0.5% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Reducing Debt-Equity Ratio Reducing Net Debt (Rs. Crs.) Improving ROC
Slide 8: Q4 FY24 Performance (Y-o-Y)
Q4 FY24 Performance (Y-o-Y) Q4FY24 Q4FY24 Q4FY24 Q4FY24 Revenues Gross Profit EBITDA PAT INR 325.2 crores INR 120.7 crores INR 24.8 crores INR 2.7 crores (Compared to –6.0 Cr in +17.0% +35.0% +320.6% Q4FY23) Q4 FY24 growth in Product Category Revenue Breakup: Q4 FY24 Growth Val Growth Vol Product Ca
Slide 9: FY24 Performance (Y-o-Y)
FY24 Performance (Y-o-Y) FY24 FY24 FY24 FY24 Revenues Gross Profit EBITDA PAT INR 1364.3 crores INR 504.0 crores INR 118.8 crores INR 34.1 crores +6.3% +19.9% +20.0% -4.6% FY24 growth in Product Category Revenue Breakup: FY24 Y-o-Y YoY Vol % Product Category Val % 23% Cooker 3% 4% 32% Induction
Slide 10: FY24 Consolidated Profit & Loss Statement
FY24 Consolidated Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 325.2 278.1 17.0% 361.6 -10.1% 1,364.3 1,283.8 6.3% Cost of Materials Consumed 188.8 161.0 213.9 813.0 746.1 Purchase of stock-in-trade 25.4 17.3 3
Slide 11: FY24 Consolidated Balance Sheet
FY24 Consolidated Balance Sheet Equity and Liabilities (Rs. Crs.) 31-Mar-24 31-Mar-23 Assets (Rs. Crs.) 31-Mar-24 31-Mar-23 Equity share capital 33.1 33.0 Property, plant and equipment 396.6 362.4 Other equity 406.2 370.3 Capital work-in-progress 29.6 9.5 Total Equity 439.2 403.4 Intangible Assets 3
Slide 12: FY24 Consolidated Cash Flow Statement
FY24 Consolidated Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-24 Mar-23 Cash Flow from Operating Activities Profit before Tax 45.6 47.3 Adjustment for Non-Operating Items 84.4 52.9 Operating Profit before Working Capital Changes 129.9 100.1 Changes in Working Capital -5.0 -12.6 Cash Gener
Slide 13: Updates on Exclusive Retail Channel
Updates on Exclusive Retail Channel Introduced New Store in UP simultaneously as we continuously strengthen our presence in NCR & South India. This will help Brand in reaching out to new territories and customers…! 171 45,094 116,529 ₹ 3.92 Lakhs per store/ Stores units sold Month 171 Stores operati
Slide 14: New Product Launch (1/2)
New Product Launch (1/2) Pigeon Healthifry+ - Air Fryer 1400W - comes with a digital display for easy use Pigeon Cast Iron Cookware – comes with incredible heat retention. Experience faster & efficient cooking with along with a 8 preset menu for easy unmatched durability, abrasion resistance, stylis
Slide 15: New Product Launch (2/2)
New Product Launch (2/2) Multi Purpose Kettle : Multi functional Boil – Cook – Steam, Water Bottles: Double Wall, Stainless Steel Auto shut off, Stainless Steel Dough Maker : Stainless steel ‘T’ shape blade arm with 304 body with copper coated body with stainless steel bowl & circular glide touch pa
Slide 16: About Stove Kraft Limited
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill ABOUT STOVE KRAFT LIMITED
Slide 17: Key Milestones
Key Milestones Granted trademark Investments by SIDBI Commenced exports to Achieved sales of 9.1 IPO with listing on registrations for Gilma Commenced production at retailers in the USA million units NSE and BSE Harohalli facility 2001 2008 2014 2018 2021 1999 2003 2010 2015 2019 2022 Incorporated S
Slide 18: Diverse range of products across consumer preferences
Diverse range of products across consumer preferences… Cookware–Pressure cooker, wonder cast cookware, non-stick cookware, electric rice cookers and titanium hard anodized LPG Stoves Small appliances – Food cookware processors, juicers, hand LED bulbs Massage apparatus blenders, hand mixers, mini Co
Slide 19: State of the Art Manufacturing Facilities with focus on quality
State of the Art Manufacturing Facilities with focus on quality Baddi, Himachal Pradesh Comprising of 13 personnel and tie-ups Dedicated in-house with foreign companies for technology R&D facility enablement Focus on quality is Sourcing of raw materials ISO 9001:2015 certified maintained at all Prod
Slide 20: Professional Management Team
Professional Management Team Mr. Rajendra Gandhi Mrs. Neha Gandhi, Mr. Ramakrishna Pendyala Mr. Rohit Mago Managing Director Executive Director Chief Financial Officer Chief Revenue Officer • Founder of Stove Kraft with over 22 years • Holds a Bachelor’s Degree in Business • He holds a bachelor’s de
Slide 21: Backed by Experienced Board
Backed by Experienced Board Mr. Rajendra Gandhi Mrs. Sunita Gandhi, Mrs. Neha Gandhi, Mr. Natrajan Ramakrishna Managing Director Non-Executive Director Executive Director Independent Director • Founder of Stove Kraft with over 22 years of • She is promoter of the Company and • Holds a Bachelor’s Deg
Slide 22: Shift in Consumption Patterns and Favorable Governments Policies
Shift in Consumption Patterns and Favorable Governments Policies Indian Consumer Appliance Market expected to grow @CAGR of ~9% Key Growth Drivers (INR Bn) Indian Appliance and Kitchen Appliances Market Consumer Electronics (ACE) Market LCA SCA Non Stick Cookware 01 Moving towards Aspirational Lifes
Slide 23: Indian Large & Small Cooking Appliance Market
Indian Large & Small Cooking Appliance Market Increasing Market for Large Cooking Appliances (LAC) Increasing Trend by Sub Segments – Value (INR Billion) Large Cooking Appliances 8 21,761 7 52 18,313 19,955 6 45 15,453 16,817 6 39 14,209 5 34 53 202 5 29 46 SKL is the market 179 25 34 39 159 30 lead
Slide 24: Non-Stick Cookware and Indian Household Utility Products
Non – Stick Cookware and Indian Household Utility Products Increasing Market for Non-Stick Cookware Types of Non-Stick Cookware Used (%) in 2020 11,389 16.8% 74.1% 10,367 67.0% 9,437 9.9% 8,590 56.2% 7,819 7,117 35.1% 21.0 18.0 6.4% 13.2 15.4 1.9% 1.3% 9.7 11.3 Paniyarakk Frying Pan Cookware Appache
Slide 25: Historical Financials
“ ” Success is walking from failure to failure with no loss of enthusiasm - Winston Churchill Historical Financials
Slide 26: Consolidated Operating Performance
Consolidated Operating Performance Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,284 1,364 114 119 81 1,136 95 99 56 859 36 34 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Gross Profit Margins EBITDA Margins PAT Margins 35.0% 36.9% 13.2% 9.5% 31.9% 32.7% 8.3% 8.7% 7.7% 4.9% 2
Slide 27: Key Financial Metrics
Key Financial Metrics RoCE 28.9% Working Capital (in Days) 16.7% 12.0% 12.3% Working 63 59 Capital (in Days) Mar-21 Mar-22 Mar-23 Mar-24 136 116 Cash Flow from Operations (Rs. 103 Crs.) 80 110 113 76 40 39 Mar-23 Mar-24 -5 Inventory Debtors Creditors* Mar-21 Mar-22 Mar-23 Mar-24 Inventory days = Inv
Slide 28: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY24 FY23 FY22 FY21 Revenue from Operations 1,364.3 1,283.8 1,136.4 859.0 Cost of Materials Consumed 813.0 746.1 702.6 442.4 Purchase of stock-in-trade 101.7 113.8 110.9 125.2 Changes in Inventories of Finished Goods and Work in P
Slide 29: Historical Balance Sheet- 1/2
Historical Balance Sheet- 1/2 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Equity share capital 33.1 33.0 32.9 32.6 Other equity 406.2 370.3 331.1 270.1 Total Equity 439.2 403.4 364.0 302.7 Financial liabilities Borrowings 4.9 10.0 15.3 20.7 Lease Liabilities 101.9 32.3
Slide 30: Historical Balance Sheet- 2/2
Historical Balance Sheet- 2/2 ASSETS (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Property, plant and equipment 396.6 362.4 309.4 217.7 Capital work-in-progress 29.6 9.5 9.2 19.1 Intangible assets 3.0 4.0 3.0 3.2 Right to Use Assets 110.5 35.6 0.0 0.0 Goodwill on Amalgamation 0.1 0.1 0.0 0.0 F
Slide 31: Historical Cash Flow Statement
Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.). Mar-24 Mar-23 Mar-22 Mar-21 Cash Flow from Operating Activities Profit before Tax 45.6 47.3 62.5 81.2 Adjustment for Non-Operating Items 84.4 52.9 46.0 36.8 Operating Profit before Working Capital Changes 129.9 100.1 108.5 117.9 Changes
Slide 32: Thank You
Thank You Investor Relations Advisors : CIN: L29301KA1999PLC025387 Contact Person: Mr. Parth Patel Mr. Irfan Raeen Email Address: +91 98197 85972 +91 97737 78669 Mr. Shrinivas P H - Company Secretary shrinivas.ph@stovekraft.com parth.patel@linkintime.co.in irfan.raeen@linkintime.co.in