Butterfly Gandhimathi Appliances Limited · NSE:BUTTERFLY
Butterfly Gandhimathi Appliances — Q4 FY21 Earnings Presentation
34 slides from Butterfly Gandhimathi Appliances's earnings presentation, May 17, 2021
Slide 1: Results presentation cover letter to stock exchanges
BUTTERFLY GANDHIMATHI APPLIANCES LIMITED May 17, 2021 General Manager — DCS, Manager, Dept. of Corporate Services, National Stock Exchange of India Ltd BSE Ltd, Exchange Plaza, Floor |, P.J. Towers, BandraKurla Complex, Dalal Street, Bandra (E), Mumbai — 400 001 Mumbai — 400 051 Scrip: 517421 Scrip:
Slide 2: Q4 & FY21 Results Presentation
(www.butterflyindia.com) Butterfly Gandhimathi Appliances Limited Q4 & FY21 Results Presentation
Slide 3: Safe Harbour
Safe Harbour Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertaintie
Slide 4: Company At A Glance
Company At A Glance #1 21% In the top 3 In India for SS LPG Stoves & Table Top Wet Revenue CAGR In India for Domestic Kitchen Appliances Grinders FY17-21 Now present in all 29 870 Crore 500+ States in India Sales of Branded Products in FY21 Exclusive Distributors across India 5 Crore 28% 24% Net Cas
Slide 5: Agenda
01 Quarter Highlights 02 Company Overview Agenda 03 Historical Financial Overview 04 Outlook © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 6: Result Highlights
RESULT HIGHLIGHTS © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 7: Q4 FY21 – Performance Highlights
Q4 FY21 – Performance Highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) PBT (Rs. crore) PAT (Rs. crore) 206.2 6.6 14.2 9.9 110.6 -7.6 -4.0 -13.7 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 ▪ Total Income (Net) during Q4 FY21 stood at Rs. 206.2 crore, as against Rs. 110.6 crore
Slide 8: FY21 – Performance Highlights
FY21 – Performance Highlights Total Income (Net) (Rs. crore) EBITDA (Rs. crore) PBT (Rs. crore) PAT (Rs. crore) 36.7 869.6 81.3 48.4 678.7 42.2 4.1 3.3 FY20 FY21 FY20 FY21 FY20 FY21 FY20 FY21 ▪ Total Income (Net) during FY21 stood at Rs. 869.6 crore, as against Rs. 678.7 crore in FY20, a growth of 2
Slide 9: Q4 FY21 - Abridged Profit & Loss Statement
Q4 FY21 - Abridged Profit & Loss Statement Particulars (Rs. crore) Q4FY20 Q4FY21 Total Net Revenues (Incl. OI) 111.2 206.8 - Branded Net Revenues 110.6 206.2 Revenue grew by 86.4% - Other Income 0.5 0.6 Material Cost 61.6 121.8 - Cost of Materials Consumed 54.5 121.6 - Purchases of Stock-in-Trade 18
Slide 10: FY21 - Abridged Profit & Loss Statement
FY21 - Abridged Profit & Loss Statement Particulars (Rs. crore) FY20 FY21 Total Net Revenues (Incl. OI) 680.2 871.2 Revenue has grown by 28% during FY21 - Branded Net Revenues 678.7 869.6 - Other Income 1.5 1.6 Material Cost 390.2 506.1 - Cost of Materials Consumed 310.5 354.8 - Purchases of Stock-i
Slide 11: Branded Sales
Branded Sales YoY YoY Particulars (Rs. crore) Q4FY20 Q4FY21 FY20 FY21 Growth Growth Kitchen Appliances 83.3 154.2 85.1% 517.8 671.1 29.6% Cooker/Cookware 20.7 42.3 104.6% 123.4 160.3 29.9% Others 6.5 9.6 48.4% 37.4 38.3 2.3% Total 110.6 206.2 86.5% 678.7 869.7 28.1% ▪ The Company has grown across al
Slide 12: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crores) Mar-20 Mar-21 ASSETS Non-Current Assets 179.4 177.9 Property, Plant and Equipment 133.3 130.7 Capital Work-in-Progress 2.3 2.1 Other Intangible Assets 35.6 33.4 Financial Assets 2.0 7.4 Others 6.2 3.5 Current Assets 312.7 311.8 Inventories 170.1 177.9 Th
Slide 13: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crores) Mar-20 Mar-21 EQUITY & LIABILITIES Shareholders’ Funds 192.7 224.0 Non-current Liabilities (NCL) 35.7 13.9 Long-term Borrowings 32.3 11.6 The Company has not utilized Other NCL 3.4 2.3 short-term borrowing due to better working capital Current Liabilitie
Slide 14: Reduction in Debt and Interest Cost
Reduction in Debt and Interest Cost Gradual decline in Debt (Rs Crore) FY18 FY19 FY20 FY21 Short Term 145 104 127 0 ▪ Debt decreased drastically due to lower working Long Term** 63 50 43 28 capital days Interest Cost has reduced significantly (Rs Crore) FY18 FY19 FY20 FY21 (Rs Crore) Q4 FY20 Q4 FY21
Slide 15: Significant Improvement in Debtors Days
Significant Improvement in Debtors Days Debtors Days 77 60 63 61 30 FY17 FY18 FY19 FY20 FY21 ▪ Relentless focus on improving Branded business debtors days have now started yielding results ➢ Currently stands at 30 days in FY21 vs 61 days in FY20 ▪ Measures driving the improvement includes: ➢ Invento
Slide 16: Optimizing Working Capital Management
Optimizing Working Capital Management Working Capital Days ▪ Net working capital days has come down considerably in last 3 years from 123 days in FY18 to 36 days in FY21 123 106 ➢ Debtors days (explained in slide 15) 87 ➢ Inventory days 36 • Real Time tracking of inventory has helped the Company to
Slide 17: New Model Launches
New Model Launches Duo Plus 2B SS Frame Trio Plus 3B SS Frame Bloom 2.0 TTG Flora 2.0 TTG Blossom 2.0 TTG Choppers Premium Vegetable Premium Vegetable Chopper 600 Chopper 900 Reflection Plus ▪ 60CM & 90CM ▪ Motion sensor Desire Plus ▪ 60CM & 90CM ▪ SS oil collector ▪ Suction power: 1200 m3/h ▪ Heat
Slide 18: Company Overview
COMPANY OVERVIEW © 2020 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 19: Butterfly Gandhimathi Appliances Limited
Butterfly Gandhimathi Appliances Limited ▪ Established in 1986 by late Shri V. Murugesa Chettiar, the Company is one of the leading manufacturer of Kitchen and Electrical Appliances in the country ▪ The Company sells its products branded as “Butterfly” across the country through distributors, direct
Slide 20: Revenue Profile
Revenue Profile Annual Net Revenue* (Rs. crore) 901 870 730 764 652 679 590 529 541 402 870 652 679 541 461 445 468 398 402 329 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Branded Sales Govt Order *Further break down of branded sales is given in next slide © 2021 Butterfly Gandhimathi Applianc
Slide 21: Branded Retail Sales
Branded Retail Sales 16.5% Branded Sales through Retail channel (Rs. crore) CAGR Branded Sales through Gas dealer channel (Rs. crore) ~94% of Total Sales 815 123 131 Free distribution of product in Tamil Nadu led to moderate 609 118 125 growth during FY13 to FY16 527 107 92 101 440 354 353 350 331 7
Slide 22: Milestone
Milestone ▪ Bagged the TNCSC order for the 4th ▪ Year of Incorporation ▪ Awarded patent for 3 conical ▪ First in India to receive “GREEN consecutive year – latest order amounting to ▪ Imported machinery to set up stone Table Top Wet Grinder LABEL‟ Certification for high thermal Rs. 510 crore for man
Slide 23: State of the Art Manufacturing Capability
State of the Art Manufacturing Capability The Company has 1 state of the art R&D facility, with in- Manufactures the following 5 products: house design studio with a dedicated team of 15 people 1. LPG Stoves ▪ Entire function operated on SAP environment ( All modules). 2. Mixer Grinders ▪ Product wi
Slide 24: Strong R&D Capabilities
Strong R&D Capabilities R&D focused Company with a demonstrated track record in innovation • To introduce Stainless Steel Pressure Cookers in India 1 st • To manufacture Stainless Steel LPG Stoves in India • To introduce Stainless Steel Vacuum Flasks in India which deliver enhanced heat retention up
Slide 25: Augmenting Organic Growth
Augmenting Organic Growth Increased Product Categories For Wider Product Portfolio And Higher Market Share Product Categories (Nos.) SKUs (Nos.) 687 702 731 619 651 20+ 20+ 20+ 20+ 20+ 20+ 20+ 20+ 552 554 500 320 6 6 6 250 250 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2011 2012 2013 201
Slide 26: Annual Financial Overview
ANNUAL FINANCIAL OVERVIEW © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 27: Key Financials
Key Financials Revenue from Operations (Rs. crore) EBITDA (Rs. crore) Profit After Tax (Rs. crore) 870 81 37 652 679 48 41 9 36 5 4 541 402 -24 -56 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 EPS (Rs.) Debt - Equity Ratio Net Worth (Rs. crore) 1.2 224 20.2 180 189 193
Slide 28: Historical Profit & Loss
Historical Profit & Loss Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 Company grew by 29% Total Net Revenues (Incl. OI) 407 542 654 680 871 across all product categories - Branded Net Revenues 405 541 652 679 870 - Government Net Revenues - - - - - - Other Income 2 2 2 2 1 Branded Net Revenue Ma
Slide 29: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 ASSETS Non-Current Assets 178 172 176 179 177 Current Assets 241 296 287 313 312 Inventories 109 125 142 170 178 Trade Receivables- TNCSC/PCWS 22 17 4 4 2 Trade Receivables-Branded 66 113 113 113 72 Cash & cash equivalents 31 23 1
Slide 30: Balance Sheet Trends
Balance Sheet Trends Particulars (Rs. crore) FY17 FY18 FY19 FY20 FY21 EQUITY & LIABLITIES Shareholders’ Funds 175 180 189 193 224 Non-current Liabilities (NCL) 63 46 42 36 14 Long-term Borrowings 63 46 39 32 12 Other NCL - - 3 3 2 Current Liabilities (CL) 181 242 232 264 251 Short-term Borrowings 84
Slide 31: Outlook
OUTLOOK © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
Slide 32: Outlook
Outlook FY22 ▪ Revenue growth of ~10-15% vs FY21 ▪ EBIDTA margin expansion of 25 bps ▪ Net working capital days 35 to 45 days ▪ Net Debt / EBIDTA : less than 0.5x © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved. 31
Slide 33: Commercials
Commercials ▪ Butterfly Opal Mixer Grinder Diwali Film 35Sec With Offer Tamil HD ▪ Butterfly Matchless Mixer Grinder Malayalam ▪ Butterfly Standard Plus Pressure Cooker Tamil ▪ Butterfly Blue Flame Malayalam ▪ Butterfly Reflections Stove Tamil ▪ Butterfly Power Hob Malayalam ▪ Butterfly Matchless Ta
Slide 34: Thank You
Thank You Mayuresan VMG Vice President – Finance & Strategy Butterfly Gandhimathi Appliances Limited Email: vmgm@butterflyindia.com © 2021 Butterfly Gandhimathi Appliances Ltd, All Rights Reserved.
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