Indigo Paints Ltd · NSE:INDIGOPNTS
Indigo Paints — Q4 FY2023 Earnings Presentation
21 slides from Indigo Paints's earnings presentation, May 29, 2023
Slide 1: Investor Presentation (Q4 & FY 23)
INDIGO Paints Ltd Investor Presentation (Q4 & FY 23) 1
Slide 2: Disclaimer
Disclaimer Certain statements and opinions with respect to the anticipated future performance of Indigo Paints Ltd (“Indigo”) in the presentation (“forward-looking statements”), which reflect various assumptions concerning the strategies, objectives and anticipated results may or may not prove to be
Slide 3: Agenda for discussion
Agenda for discussion Corporate Update Financials (Q4 FY23) / FY 23 3
Slide 4: Agenda for discussion
Agenda for discussion Corporate Update 4
Slide 5: Corporate Update
Corporate Update • Indigo Paints has crossed the milestone of Rs. 1,000 Cr for the FY 2022-23 and closed the year with a net revenue of Rs. 1,073.33 Cr. • Sales growth largely in line with the industry. However, as guided, the product mix was favorable which propelled the gross margins and profitabi
Slide 6: Agenda for discussion
Agenda for discussion Financials (Q4 FY23) / FY 23 6
Slide 7: Indigo Paints | Q4 FY 23 financials
Indigo Paints | Q4 FY 23 financials Statement of audited financial results for the quarter and year ended March 31, 2023 (All amounts in rupees lakhs, unless otherwise stated) Quarter ended Sl. Particulars Mar 31, 2023 Dec 31, 2022 Mar 31, 2022 No (Audited) (Unaudited) (Audited) 1 Income: Revenue fr
Slide 8: Indigo Paints | FY 23 financials
Indigo Paints | FY 23 financials Statement of audited financial results for the quarter and year ended March 31, 2023 (All amounts in rupees lakhs, unless otherwise stated) Year ended Sl. Particulars Mar 31, 2023 Mar 31, 2022 No (Audited) (Audited) 1 Income: Revenue from operations 1,07,333.43 90,59
Slide 9: Indigo Paints | Q4 FY 23 financial Analysis
Indigo Paints | Q4 FY 23 financial Analysis Quarterly Financial Highlight RS. Cr Quarterly % Change Particulars Q4 Q3 Q4 (Rs. Crs) FY 23 FY 23 FY 22 Operational Income 325.47 281.27 288.38 12.86% Other Income 2.81 3.78 2.51 Total 328.28 285.04 290.88 Gross Profit 152.39 123.26 125.75 Gross Margin %
Slide 10: Analysis | Q4 FY23
Analysis | Q4 FY23 • Q4 FY 23 Operational Income has expanded by 12.86% over Q4 FY 22 from Rs. 288.38 Cr to Rs.325.47 Cr • Gross Margins expanded to 46.82% in Q4 FY23 over 43.61% in Q4 FY22 and 43.82% in Q3FY23 • EBITDA and PAT have expanded by 33.40 % and 40.74% respectively over Q4 FY22 • EBITDA m
Slide 11: Analysis | Q4 FY23
Analysis | Q4 FY23 • Growth in Net revenue for the quarter largely in line with the industry. • Gross margin at 46.82% is the highest in the industry and with stabilized raw material prices, expect the same trend to continue barring any black swan events. • Company had clocked the highest EBITDA mar
Slide 12: Indigo Paints | FY 23 financial Analysis
Indigo Paints | FY 23 financial Analysis Annual Financial Highlight RS. Cr Year Ended % Change Particulars FY 23 FY 22 (Rs. Crs) Operational Income 1,073.33 905.97 18.47% Other Income 10.07 10.89 Total 1,083.40 916.87 Gross Profit 478.09 392.45 Gross Margin % 44.54% 43.32% EBITDA 181.53 135.98 33.50
Slide 13: Analysis | FY 23
Analysis | FY 23 • FY 23 Operational Income has expanded by 18.47% to Rs. 1,073.33 Cr from Rs. 905.97 Cr clocked in FY22. • Gross Margins improved to 44.54% y-o-y from 43.32% in FY22 • Healthy growth in EBITDA and PAT by 33.50% and 56.98% respectively over FY22 • EBITDA margin expanded to 16.91% fro
Slide 14: Analysis | FY 23
Analysis | FY 23 • Growth in Net revenue for the FY 23 was 18.47% which was in line with the industry trend. • Gross margin at 44.54% is the highest in the industry despite the strategy to pass on some benefits in the gross margins for a higher growth. Margins primarily driven by better product mix
Slide 15: Value / Volume Growth (Q4 FY 23 vs Q4 FY 22)
Value / Volume Growth (Q4 FY 23 vs Q4 FY 22) Value Volume Product Category Growth Growth Cement Paints + Putty 45.1% 42.0% Emulsions 9.4% 5.2% Enamels + Wood Coatings 27.3% 24.8% Primers + Distempers + Others 23.2% 37.6% 15
Slide 16: Value / Volume Growth (FY 23 vs FY 22)
Value / Volume Growth (FY 23 vs FY 22) Value Volume Product Category Growth Growth Cement Paints + Putty 33.2% 25.5% Emulsions 18.2% 5.9% Enamels + Wood Coatings 30.3% 18.5% Primers + Distempers + Others 18.9% 13.8% 16
Slide 17: Network expansion
Network expansion 31.03.21 30.06.21 30.09.21 31.12.21 31.03.22 30.06.22 30.09.22 31.12.22 31.03.23 No. of Depots 44 44 44 45 47 47 47 47 47 Active Dealers 13,214 13,884 14,716 15,242 15,787 16,526 16,758 16,785 16,496 Tinting m/c 5,472 5,800 6,383 6,749 7,101 7,435 7,716 7,978 8,273 17
Slide 18: Salient Features FY 23
Salient Features FY 23 • Our portfolio of differentiated products accounted for 31.2% of Revenues in FY 23, compared to 29.6% of Revenues in FY 22 • Kerala’s share of Revenue was largely unchanged from 28.01% in FY 22 to 27.84% in FY 23 18
Slide 19: Key Metrics for FY 23
Key Metrics for FY 23 Particulars FY 20 FY 21 FY 22 FY 23 Freight expense 10.5% 9.9% 8.9% 9.0% (% of Net Revenue) Advertising & promotional expense 12.7% 10.7% 9.7% 7.7% (% of Net Revenue) Employee cost 6.7% 6.7% 6.2% 6.8% (% of Net Revenue) Other expenses (overheads) 4.0% 3.7% 3.5% 4.2% (% of Net R
Slide 20: Future guidance
Future guidance • During the year while the revenue grew by 18.47%, the EBITDA and PAT grew at a faster pace of 33.50% and 56.98% respectively. In the upcoming year, on the strength of several initiatives taken by the company, April 23 has been an exceptionally good month for the Company in top line
Slide 21: Thank You
Thank You INDIGO