Tilaknagar Industries Limited · NSE:TI
Tilaknagar Industries — Q3 FY22 Earnings Presentation
20 slides from Tilaknagar Industries's earnings presentation, Feb 9, 2022
Slide 1: Exchange filing cover letter
February 09, 2022 To, To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block-G, Dalai Street, Bandra-Kurla Complex, Bandra (East), Mumbai 400001 Mumbai-400 051. Scrip Code : 507205 Symbol : TI Sub: Earnings Presentation for Unaudited Financial
Slide 2: Q3 FY22 Earnings Presentation
Tilaknagar Industries Ltd. (BSE: 507205 | NSE: TI) 2/9/2022 Earnings Presentation Q3 FY22 (Oct to Dec 2021) Tilaknagar Industries | Q3 FY22 Earnings Presentation 1
Slide 3: Q3 FY22 Performance
Q3 FY22 PERFORMANCE Tilaknagar Industries | Q3 FY22 Earnings Presentation 2
Slide 4: Q3 FY22 Highlights
Q3 FY22 Highlights Key Performance Highlights Volume (in lacs cases) Volumes have grown to 18.7 lacs cases in Q3 FY22 (up 13% Y-o-Y) 18.7 18.1 17.2 Lockdown 16.5 Lockdown Strong NSR of Rs. 1,139 per case (vs. Rs. 1,087 per case in Q2 impact 14.9 impact FY22) 11.1 Net revenue from operations at
Slide 5: Management commentary on Q3 FY22 results
Management commentary on Q3 FY22 results From the desk of Mr. Amit Dahanukar, Chairman & Managing Director Over the last couple of quarters, we have showcased a turnaround strategy not only in terms of net debt management but also around growth and profitability This quarter is no different; our
Slide 6: Strong Q3 FY22 performance
Strong Q3 FY22 performance… Y-o-Y Q-o-Q Y-o-Y Q3 FY22 Q3 FY21 growth Q2 FY22 growth 9M FY22 9M FY21 growth Volumes (in lacs): Brandy volumes 17.64 15.21 15.9% 16.91 4.3% 44.97 34.45 30.5% Others 1.03 1.26 -18.7% 1.15 -10.7% 2.85 2.89 -1.3% Total volumes 18.67 16.48 13.3% 18.06 3.4% 47.82 37.34 28.1%
Slide 7: Extract of Income Statement
Extract of Income Statement Y-o-Y Q-o-Q Y-o-Y (Rs. Crs) Q3 FY22 Q3 FY21 growth % Q2 FY22 growth % 9M FY22 9M FY21 growth % Revenue from operations (Gross) 501.7 431.3 16.3% 445.3 12.6% 1,271.2 976.6 30.2% Less: Excise Duty 295.8 263.6 12.2% 244.2 21.1% 728.8 620.2 17.5% Revenue from Operations (Net)
Slide 8: Debt reduction journey
Debt reduction journey… …working towards near debt-free position by FY24 Debt reduction (Rs. Crs)(a)(b)(c) Debt as of 31-Dec-21(a)(b)(c) 45 1,199 EARC Term Loan 124 Cash Credit Trade Deposits Debt reduced by Rs. 55 crs 303 over 3 quarters 17 Other Debt 543 488 EARC debt is at 9% p.a. EARC balanc
Slide 9: Company & Industry Overview
COMPANY & INDUSTRY OVERVIEW Tilaknagar Industries | Q3 FY22 Earnings Presentation 8
Slide 10: About the Company
About the Company Largest premium brandy manufacturer in India with presence across all segments of IMFL Manufacturing units across 11 states Share of Brandy as % 16 Owned: 4 units 15+ Brands across products 92% of total volumes Tie-up: 12 units 87% Sales through: 5.45 Volumes (in cases) Share of sa
Slide 11: We sell millions of cases across India
We sell millions of cases across India MANSION HOUSE Mansion House is a millionaire brand (more than 4.4 mn cases sold in FY21) Mansion House is the highest selling premium brandy in India Manufactured across all units A brand with a high brand loyalty driving repeat purchases COURRIER NAPOL
Slide 12: Our strategic focus
Our strategic focus… …the way forward Volume growth Market share growth(b) Efficient levels of capacity utilisation 5 year CAGR(a) of 14.4% – regions Continued focus on brandy Pernod Ricard agreements enables contributing 70%+ of volumes (4.4% when Market share (as % of brandy) growth effici
Slide 13: MHB and MHB Brandy segment growing faster
MHB and MHB Brandy segment growing faster… …than overall Brandy, Whiskey and IMFL MHB vs. Industry Growth (a) MHB market share as % of brandy (a) MHB market share as % of IMFL (a) Category CAGR Market share growth of 33% over 5 years Market share growth of 25% over 5 years MHB 4.4% Relevant Brandy S
Slide 14: Bottling arrangement with Pernod Ricard
Bottling arrangement with Pernod Ricard Bottling at Shrirampur Plant in Maharashtra 10 year bottling agreement leading to near-full capacity utilisation Potential for providing grain-based ENA Impact on revenues: FY21 vs. Going forward Tilaknagar Industries | Q3 FY22 Earnings Presentatio
Slide 15: FY21 Financials
FY21 FINANCIALS Tilaknagar Industries | Q3 FY22 Earnings Presentation 14
Slide 16: Improving business fundamentals
Improving business fundamentals Premiumisation strategy to enhance margins and cash flows Total Volumes Sold (mn cases) Brandy Sales (mn cases) 84% 89% 91% 92% 5.92 6.64 6.44 5.45 4.98 5.92 5.86 5.03 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Share of Brandy to total volumes sold NSR per case (Rs.) Rob
Slide 17: Focus on margins and cashflows
Focus on margins and cashflows Most of write-offs impacting EBITDA have been undertaken Net Revenues (Rs. Mn) Gross Profit (Rs. Mn) and Gross Margin (%) 51% 52% 49% 46% 5,778 6,613 6,528 5,488 2,934 3,417 3,006 2,714 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 EBITDA (Rs. Mn) and EBITDA Margin (%) Finan
Slide 18: Financial Summary – Income Statement
Financial Summary – Income Statement (Rs. Mn) FY18 FY19 FY20 FY21 Gross Revenue 12,916 15,255 14,835 14,184 Less: Excise Duty 7,138 8,642 8,306 8,696 Net Revenue 5,778 6,613 6,528 5,488 Gross Profit 2,934 3,417 3,006 2,714 Gross Margin % 51% 52% 46% 49% Employee Costs 220 333 296 252 As % of Net Rev
Slide 19: Disclaimer
Disclaimer This presentation may include statements which may constitute forward-looking statements including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Tilaknagar Industries’ future business developments and economic
Slide 20: Thank You
For further information, please contact: Ameya Deshpande Head – Corporate Development & Strategy Email: adeshpande@tilind.com THANK YOU
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