Kajaria Ceramics Limited · NSE:KAJARIACER
Kajaria Ceramics — Q2 FY23 Earnings Presentation
36 slides from Kajaria Ceramics's earnings presentation, Nov 2, 2022
Slide 1: Outcome of Board Meeting letter to stock exchanges
November 2, 2022 BSE Limited The National Stock Exchange of India Ltd. P.J. Towers Exchange Plaza Dalal Street Bandra Kurla Complex Mumbai - 400 001 Bandra (E) Mumbai - 400 051 Dear Sir/Madam, Re.: Outcome of the Board Meeting and announcements pursuant to the SEBI (Listing Obligations and Disclosur
Slide 2: Annexure-A: Sikandrabad plant expansion details
Annexure-A Details regarding proposed expansion cum modernization of manufacturing capacity of glazed vitrified tiles at Sikandrabad (Uttar Pradesh) Plant of the Company Sr. Particulars Details No. 1. Existing capacity 8.40 MSM Glazed Vitrified Tiles per annum 2. Existing capacity utilization 100% 3
Slide 3: Auditor's Review Report on Standalone Results
Walker Chandiok&..Co LLP Walker Chandlok & Co LLP L 41, Connaught Circus. Outer Circle, New Delhi• 110 001 India T +9111 4500 2219 F +9111 4278 7071 Independent Auditor's Review Report on Standalone Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulat
Slide 4: Auditor's Review Report on Standalone Results (cont'd)
Walker Chandiok &_Co LLP Independent Auditor's Review Report on Standalone Unaud ited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEBI (Listing Obligations and Disclosure Requi rements) Regulations, 2015 (as amended) (cont'd.) 4. The compa
Slide 5: Statement of Unaudited Standalone Financial Results
Kajaria STATEMENT OF UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022 \" .. . -·- · --, - ---.- - .-- - - - ----- - - -·--·, Quarter ended Half Year ended Year ended PARTICULARS 30 September 2022 30 June 2022 30 September 2021 30 September 2022 30 Septembe
Slide 6: Standalone Statement of Assets and Liabilities
Kai~!:l~ STANDALONE STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2022 (~ in crores) As at As at PARTICULARS 30 Sentember 2022 31 March 2022 /Unaudited\ IAudited\ ASSETS (1) Non-current assets (a) Property, plant and equipment 927.86 781.82 (b) Hight-of-use assets 31.60 32.97 (c) Capital wo
Slide 7: Unaudited Standalone Statement of Cash Flows
Kajaria Unaudited Standalone Statement of cash flows (fin crores) Half year ended Year ended 30 September 2022 31 March 2022 ,unaudited\ (Audited I A. CASH FLOW FROM OPERATING ACTIVITIES Profit before tax 232.14 485.05 Adjusted for : Depreciation and amortisation expense 44.49 84.16 Interest income
Slide 8: Notes to Standalone Financial Results
Kajaria Notes: 1 The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 2 November 2022 and have undergone 'Limited Review' by the statutory auditors of the Company. 2 The above results have been pr
Slide 9: Auditor's Review Report on Consolidated Results
Walker Chandiok &_Co LLP Walker Chandlok & Co LLP L 41, Connaught Circus, Outer Circle, New Delhl • 110 001 India T +9111 4500 2219 F +91 11 4278 7071 Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pu rsuant to the Re
Slide 10: Auditor's Review Report on Consolidated Results (cont'd)
Walker Chandiok &_Co LLP Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pu rsuant to the Regu lation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Reg ulations, 2015 (as amended) (cont'd.) 4. Based
Slide 11: Annexure 1: List of entities included
Walker Chandiok &_Co LLP Independent Auditor's Review Report on Consolidated Unaudited Quarterly Financial Results and Year to Date Results of the Company pursuant to the Regulation 33 of the SEB I (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) (cont'd.) Annexure 1
Slide 12: Statement of Unaudited Consolidated Financial Results
Kajaria STATEMENT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022 (~ in crores, except per share data Quarter ended Half Year ended Year ended PARTICULARS 30 September 2022 30 June 2022 30 September 2021 30 September 2022 30 September 2021 31 March 2
Slide 13: Consolidated Statement of Assets and Liabilities
Kai!tri~ CONSOLI DATED STATEMENT OF ASSETS AND LIABILITIES AS AT 30 SEPTEMBER 2022 Asat As at PARTICULARS 30 Seotember 2022 31 March 2022 /Unaudited) /Audited\ (1) Non-current assets (a) f>roperty, plant and equipment 1,383.46 1,099.83 (b) f~ight-of-use assets 36.83 38.92 (C) Capital work-in-prowess
Slide 14: Unaudited Consolidated Statement of Cash Flows
Kajaria Unaudited Consolidated Statement of cash flows (f in croresl Half year ended Year ended 30 September 2022 31 March 2022 /I ln::1"•1itedl / ll.11rlitorl\ A. CASH FLOWS FROM OPERATING ACTIVITIES Profit before tax 222.28 510.17 Adjustments for : Depreciation and amortisation expense 6601 115.36
Slide 15: Unaudited Consolidated Segment Wise Results
Kajaria Ut•tAUDITEQ CONSOLIDATED SEGMENT WISE REVENUE. RESULTS, ASSETS AND LIABlllIIES FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022 (~ in crores_,except per _share data) Quarter ended Half Year ended Year ended PARTICULARS 30 September 2022 30 June 2022 30 September 2021 30 September 2022 3
Slide 16: Notes to Consolidated Financial Results
Kajaria Notes: 1 The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 2 November 2022 and have undergone 'Limited Review' by the statutory auditors of the Company. 2 The above results have been
Slide 17: Additional Disclosure Under Regulation 52(4) (Standalone)
INDIA'S N0.1 TILE COMPANY Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52 (4) OF THE SEBI (LODR) REGULATIONS, 2015 For the Half Year ended 30 th Sep. 2022 (Standalone): 1. Credit Rating and Change in Credit rating (if any) : Kept at the same level for both Long term and non fund based And unsecure
Slide 18: Additional Disclosure Under Regulation 52(4) (Consolidated)
INDIA'S NO. 1 TILE COMPANY Kajaria ADDITIONAL DISCLOSURE UNDER REGULATION 52 (4) OF THE SEBI (LODR) REGULATIONS, 2015 For the Half Year ended 30th Sep. 2022 (consolidated): 1. Credit Rating and Change in Credit rating (if any) : Kept at the same level for both i. Long term and non fund based ii. And
Slide 19: Extract of Unaudited Consolidated Financial Results
Kajaria EXTRACT OF UNAUDITED CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30 SEPTEMBER 2022 ('{ in crores , except per share data) Q uarter ended Half Year ended Quarter ended Sr Particulars 30 September 2022 30 September 2022 30 September 2021 No (Una udited) (Unaudited) (Unau
Slide 20: Kajaria Ceramics Limited – Q2 FY23
KAJARIA CERAMICS LIMITED Investor Update – Q2 FY23 November 2, 2022 1/17
Slide 21: Content
Content Chairman’s Message Financial Performance – Q2 FY23 Subsidiaries Income Statement Shareholding Pattern 2/17 Investor Update Q2 FY23
Slide 22: Chairman's Message
Chairman’s Message Second quarter was one of the toughest quarters in terms of the subdued demand scenario and disruptions in natural gas supply followed by unprecedented increase in gas cost. Nonetheless, recent corrections in price should have a positive impact on margins going forward. The quarte
Slide 23: Tile Volume Data (consolidated)
Tile VolumeData (consolidated) Production Growth (MSM) - Q2 FY23 Production Growth (MSM) - H1 FY23 40 38.70 20 18.95 17.56 31.55 8.99 3.92 30 4.53 7.13 15 20 10 29.71 15.03 24.42 13.03 10 5 0 0 H1 FY22 H1 FY23 Q2 FY22 Q2 FY23 Own Manufacturing Subsidiaries Own Manufacturing Subsidiaries Sales Growth
Slide 24: Revenue Growth - consolidated
Revenue Growth - consolidated Rs. / Crores 1077.76 2085.98 9.65 17.30 973.55 19.40 39.74 - 74.44 145.81 16.53 74.44 242.05 1535.21 - 480.73 210.37 21.89 - 111.41 Adheshives 135.43 Adheshives Plywood 324.92 267.48 148.03 Plywood Sanitary ware / Faucets Sanitary ware / Faucets Outsourcing (Tiles) 227.
Slide 25: Profitability - Consolidated
Profitability - Consolidated PBT Rs. / Crores 125 116.14 PAT 156.74 160 100 120 100.23 80 75 69.86 40 0 50 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 250 225.94 175 213.62 159.20 162.16 200 150 150 125 100 50 100 H1 FY22 H1 FY23 H1 FY22 H1 FY23 6/17 Investor Update Q2 FY23 Refer Slide 15 for detailed IncomeSta
Slide 26: EBITDA / EBITDA Margin (consolidated) – quarterly progression
EBITDA / EBITDA Margin (consolidated) – quarterly progression 200 20% 18.54% 17.21% 150 15% 15.06% 15.23% Rs./ Crores 12.01% 183.84 10% 180.49 165.94 100 153.59 129.41 5% 50 0% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 EBITDA (Rs. / Crores) EBITDA Margin (%) 7/17 Investor Update Q2 FY23
Slide 27: Key Ratios (consolidated): Net Debt and Net Debt Equity
Key Ratios(consolidated)………… Net Debt (Rs. Crore) * Net Debt Equity(X) * 0.20 200 100 0.10 0 Mar-20 Mar-21 Mar-22 Sep-22 0.00 -100 Mar-20 Mar-21 Mar-22 Sep-22 -107 -0.06 -200 -0.09 -198 -0.10 -300 -349 -400 -373 -0.20 -0.18 -0.17 -500 * Net of cash and cash equivalents 8/17 Investor Update Q2 FY23
Slide 28: Key Ratios (consolidated): Working Capital and ROE
Key Ratios(consolidated) Working Capital (Rs. Crore) Return on Equity (Avg.) 700 600 565 582 513 513 500 542 432 502 466 400 397 373 300 328 298 284 200 239 207 100 30 0 Mar-20 Mar-21 Mar-22 Jun-22 Sep-22 Debtors Inventory Creditors 20 18.89 17.19 120 Working Capital (Days) 15.53 14.88 10 100 73 80
Slide 29: Subsidiaries
Subsidiaries A. KAJARIA VITRIFIED (Formerly known as Jaxx Vitrified Pvt. Ltd.) Kajaria Vitrified Pvt. Ltd. is based in Morbi (Gujarat). Kajaria has 87.37% stake in the same. The company has commissioned 4.40 MSM new capacity of polished vitrified tiles at the same site in April 2022. The company has
Slide 30: Subsidiaries
Subsidiaries D. KAJARIA BATHWARE (P) LTD. (KBPL) Kajaria Bathware is a subsidiary of Kajaria Ceramics Ltd, in which Kajaria owns 85% and Aravali Investment Holdings, Mauritius, a wholly-owned subsidiary of WestBridge ……..Crossover Fund, LLC owns 15% stake. a) Sanitaryware: The Sanitaryware plant is
Slide 31: Subsidiaries
Subsidiaries G. KAJARIA INTERNATIONAL DMCC During the quarter, the company has subscribed 100% equity shares of Kajaria International DMCC, Dubai for AED 50000 (Rs. 10,87,500) making it a wholly-owned subsidiary of the company. Kajaria International DMCC was formed to increase the footprint in inter
Slide 32: Geographical Spread of the Production Capacity
Geographical Spread of the Production Capacity ASSET OVERVIEW Total Tile Capacity 84.45 MSM 38.50 MSM (Gailpur, Rajasthan) 6.50 MSM (Malootana, Rajasthan) 8.40 MSM (Sikandrabad, U P) 5.70 MSM Kajaria Infinity, Production Capacity (MSM) (formerly known as Cosa Plant Ceramic Polished Glazed Ceramics P
Slide 33: Expansions on card
Expansions on card….. A. Kajaria Bathware (Rajasthan) In our faucet plant at Gailpur, we are adding new capacity of 6 lakh pieces per annum, which will take the total the capacity to 16 lakh pieces per annum. Estimated cost for this expansion is Rs. 5 crore approx. This expansion is expected to be c
Slide 34: Income Statement: Financial highlights
Income Statement Financial highlights (Rs / Crores) Q2 FY23 Q2 FY22 Growth H1 FY23 H1 FY22 Growth Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Net Sales 979.63 1077.76 862.22 973.55 14% 11% 1893.58 208
Slide 35: Shareholding Pattern
Shareholding Pattern As on 30th Sep. 2022 Equity Shares Outstanding – 159.23 millions 13.20% NRI's Public / Others 0.41% 47.49% Promoters 38.90% FIs /FPIS / Mutual Funds 16/17 Investor Update Q2 FY23
Slide 36: About Us
About Us Kajaria Ceramics is the largest manufacturer of ceramic/vitrified tiles in India and the 8th* largest in the world. It has present annual capacity of 84.45 mn. sq. meters presently, distributed across eight plants - one at Sikandrabad in Uttar Pradesh, one at Gailpur, one at Malootana in Ra