Carysil Limited · NSE:CARYSIL

Carysil — Acrysil — Q1 FY23 Earnings Presentation

45 slides from Carysil's earnings presentation, Aug 5, 2022

  1. Slide 1: Brand Building through Innovation & Technology Investor Presentation

    Leader in Lifestyle Kitchen Products Brand Building through Innovation & Technology Investor Presentation August 2022

  2. Slide 2: Safe Harbor

    Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Acrysil Limited. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,

  3. Slide 3: Q1 FY23 Highlights

    Q1 FY23 Highlights

  4. Slide 4: Message from Chairman & MD

    Message from Chairman & MD Commenting on the Results, Mr. Chirag Parekh, Chairman & Managing Director said, “We have continued to embark on our growth journey despite rising inflation and ongoing geo-political tensions. We have clocked total income growth of 73% YoY & 22% QoQ. Our total income growt

  5. Slide 5: Q1 FY23 Highlights: Sustained Momentum in Business

    Q1 FY23 Highlights: Sustained Momentum in Business Exports* business has increased by 25% YoY Domestic business has increased by 117% to Rs. 100 crores for Q1 FY23 contributing YoY to Rs. 38 crores for Q1 FY23 contributing Company Increased dealer network in Company’s order to IKEA for supply of 72%

  6. Slide 6: Consolidated: Q1 FY23 Performance

    Consolidated: Q1 FY23 Performance Rs. Crores Total Income* (Rs. Crs) EBITDA^ (Rs. Crs) PAT After MI (Rs. Crs) 34.4 18.7 171.3 31.3 16.4 141.0 23.5 13.5 99.3 Q1 FY22 Q4 FY22 Q1 FY23# Q1 FY22 Q4 FY22 Q1 FY23# Q1 FY22 Q4 FY22 Q1 FY23# Domestic Revenue (Rs. Crs) Exports Revenue **(Rs. Crs) 38.0 110.9 10

  7. Slide 7: Consistent Growth

    Consistent Growth Rs. Crores Quartz Sink Volumes* (Units in ‘000s) Other Volumes* (Units in ‘000s) Total Income Steel Sink Kitchen Appliances & Others** 650 153 492 117 48 +22.1% 114 413 103 387 91 316 346 51 45 280 300 43 252 267 67 36 181 197 23 171 170 105 41 60 66 69 12 44 55 29 FY17 FY18 FY19 F

  8. Slide 8: Revenue Mix

    Revenue Mix Geography-wise Revenue Product-wise Revenue Q1 FY23 Export* 61% 28% 19% Domestic 72% 9% 10% Quartz Sink Steel Sink Appliances & Others Solid Surface Worktops 5% FY22 95% 9% Strengthening 14% 77% ‘Carysil’ Brand Quartz Sink Steel Sink Appliances & Others *STL which got consolidated from Q

  9. Slide 9: Consolidated Profit & Loss

    Consolidated Profit & Loss Particulars (Rs. Crs.) Q1 FY23 Q1 FY22 Y-o-Y Q4 FY22 Q-o-Q Revenue 171.3 97.5 138.9 Gain / (Loss) on Foreign Exchange 0.0 1.8 2.0 Total Income 171.3 99.3 73% 141.0 22% Raw Material 89.8 43.6 58.1 Employee Expenses 10.4 6.2 8.7 Other Expenses 36.7 26.0 42.8 EBITDA 34.4 23.5

  10. Slide 10: Standalone Profit & Loss

    Standalone Profit & Loss Particulars (Rs. Crs.) Q1 FY23 Q1 FY22 Y-o-Y Q4FY22 Q-o-Q Revenue 108.4 78.7 110.9 Gain / (Loss) on Foreign Exchange 0.0 1.7 1.9 Total Income 108.4 80.4 35% 112.9 -4% Raw Material 46.3 34.7 43.2 Employee Expenses 6.6 4.3 6.5 Other Expenses 31.3 22.8 38.0 EBITDA 24.2 18.6 30%

  11. Slide 11: Capex Update

    Capex Update Capacity Expansion of Quartz Kitchen Sinks Capacity Expansion of Stainless Steel Sinks Capacity Expansion Capex Expansion of Capex Expansion of Capex Expansion of of 100,000 units Additional 140,000 Additional 160,000 Additional 200,000 Capacity Expansion announced in 200203 units annou

  12. Slide 12: Company Overview

    a Company Overview

  13. Slide 13: Numero Uno Position

    Numero Uno Position Only Introduced Certification for Manufacturer with Schock Physical Vapor Deposition (PVD) Technology (Germany) Technology ISO 9001:2015, ISO 14001:2015 In Asia in Quartz Sink For metallic finish of stainless ISO 45001:2018 steel sinks PAN India presence Quartz Sink Capacity Expo

  14. Slide 14: Products with Global Standards sold in 55 Countries

    Products with Global Standards sold in 55 Countries Company presently exports to over 55 countries. Plan to expand further by acquiring new customers and penetrating in new geographies ✓ We have strengthened our presence to newer geographies – Australia, New Zealand, Gulf countries, Southeast Asia,

  15. Slide 15: Our Distribution Model

    Our Distribution Model International Domestic Significant Presence in UK Strong Foothold in India Market 1,880 Dealers 65 Franchise Shop 85 Galleries STRATEGIC Acquisition of Acquisition of ‘Tickford Orange Limited’, holding 82 Distributors Homestyle Products Limited company of its operating subsidi

  16. Slide 16: Acrysil – Over the Years

    Acrysil – Over the Years 2022 Acrysil started its first Acquisition of international Launched 2021 Tickford Kitchen subsidiary in Orange Appliances in Commenced Limited, Germany – the Domestic 2020 supplies of holding Acrysil GmbH. Market under Quartz sinks to company of the brand name IKEA its oper

  17. Slide 17: Pillars of Integrated Business

    Pillars of Integrated Business Manufacturing Facilities & Distribution Network Brand Product Basket Technology Gallery • Quartz Sinks: 10,00,000 pa* , • The acquisition of 100% stake in a • Brand promotion on TV and in print, Stainless Steel : 90,000 pa and • Offers a wide range of cutting distribut

  18. Slide 18: Board of Directors

    Board of Directors Mr. Chirag A. Parekh Mr. Jagdish R. Naik Chairman and Managing Director Independent Director He holds a BBA Degree from premier ' European University’ A Chartered Accountant, was a partner of a reputed Accounting firm - M/s After joining the company in 1993, he successfully steere

  19. Slide 19: Awards & Certifications

    Awards & Certifications FGI’s Award for ‘Best Exports IPF Fastest growing Manufacturing Performance & Promotion’ Company Award 03 04 If Design Award to Sternhagen SaniQ kristall Certificate for ‘Best CSR wash basin 02 05 practices’ by Rotary Club Award Certificate for 01 06 Manufacturing Innovation

  20. Slide 20: Marketing campaign for 'Carysil' Brand

    Marketing campaign for ‘Carysil’ Brand ➢ Acrysil has signed Bollywood celebrity ‘Vaani Kapoor’ for new marketing campaign #TheHeartofMyHome for its ‘Carysil’ Brand ➢ Under the ‘Carysil’ brand, company sells lifestyle kitchen sinks and built-in appliances ➢ Campaign #TheHeartofMyHome unveils a new ra

  21. Slide 21: Increasing Product Portfolio

    Increasing Product Portfolio Sinks Kitchen Appliances Product Segment Bathroom Suite Bath Fittings 21

  22. Slide 22: Sinks

    a Sinks

  23. Slide 23: Only Company to make Quartz Sinks in Asia with German Technology

    Only Company to make Quartz Sinks in Asia with German Technology Only Company Different Models Plant Capacity Many Outlets in Asia The only company in Asia and 4 plants having a combined Developed more than 150+ The brand is available in among a few companies capacity of 10,00,000* models to cater t

  24. Slide 24: Stainless Steel Sinks – Quadro Sinks the Focus Area

    Stainless Steel Sinks – Quadro Sinks the Focus Area Stainless-Steel Sinks Contribution: 10% to Consolidated revenue* Production Capacity 90,000 sinks per annum^ Target Market for Quadro (Designer) Sinks Caters to high end segment who are willing to pay a premium for superior quality, design and fini

  25. Slide 25: Kitchen Appliances

    Kitchen Appliances

  26. Slide 26: Kitchen Appliances – Multifold Growth Opportunity

    Kitchen Appliances – Multifold Growth Opportunity Chimneys Dish Washer Cook Tops Built in Ovens Product Portfolio Wine Chillers Cooking Range Micro Wave Owens Currently Hoods contributing ~5% to the Revenue* Manufacturing and Trading of Poised to become a significant player in the Appliances overall

  27. Slide 27: Bath Segment

    L Bath Segment

  28. Slide 28: Bath Segment – Synergetic Move to Leverage Quartz Technology

    Bath Segment – Synergetic Move to Leverage Quartz Technology FUNDAMENTALS OF THE BUSINESS ▪ Brand owned by Acrysil’s Wholly owned Subsidiary in Germany, ‘Acrysil GmbH’ ▪ 60+ Showrooms & SIS for displaying the products Product Range of Branding Synergy Innovation Achievements Details Products Synergy

  29. Slide 29: Business Model

    | Business Model

  30. Slide 30: Moulds an Integral Part of Manufacturing Process

    Moulds an Integral Part of Manufacturing Process Input Processing Output Purchase of Moulds All the Moulds are imported Production Capacity 10,00,000* units per annum Variety of Moulds ▪ Has more than 150 moulds Place: Bhavnagar, Gujarat ▪ 400+ SKU’s Made to Order Life of Moulds Made as per the cust

  31. Slide 31: Domestic Presence - Strengthening of our Brands

    Domestic Presence - Strengthening of our Brands With strong focus on domestic market, we are increasing our penetration domestically by expansion in dealer network pan India. Further plans to increase dealers to ~ 3,000 by end of FY23 Dealer Network 1880 1500 1500 1500 1500 1200 1300 800 550 400 201

  32. Slide 32: Increasing Presence Across India

    Increasing Presence Across India ✓ Increasing Penetration in domestic market through opening of many galleries across India ✓ Displaying vast range of ‘CARYSIL’ products ranging from kitchen sinks, chimneys, hobs, cooktops, faucets, dishwashers, etc. 32

  33. Slide 33: Presence in UK through Acrysil Products Ltd.

    Presence in UK through Acrysil Products Ltd. (formerly known as Homestyle Products Ltd.) Acrysil holds 100% in Homestyle Products through Acrysil UK Limited The name of Homestyle Products Limited has been changed to Acrysil Products Limited Products sold under Acrysil Products Ltd. Revenues (Mn. GBP

  34. Slide 34: Further strengthened Presence in UK through 'Sylmar Technology Limited'

    Further strengthened Presence in UK through ‘Sylmar Technology Limited’ The acquisition is a natural and strategic fit for Acrysil and will catapult the Company into new orbit of growth Acquisition Revenues (Mn. GBP) Covid Impact +8.3% 14.0 13.9 3.4 12.3 3.1 Overview Deal & Consideration Rationale 1

  35. Slide 35: Multiple Growth Drivers

    Multiple Growth Drivers Strong Distribution Network Strengthen the Distribution network by tie up with Homestyle and Short Term STL, UK and plan to add new 100 galleries and 34 more distributor and increase dealer network by ~3000 dealers Branding & Technology Focused on capturing the Brand Mindspac

  36. Slide 36: Historical Financials

    Historical Financials

  37. Slide 37: Consolidated Profit & Loss Statement

    Consolidated Profit & Loss Statement Particulars (Rs. Crs.) FY22 FY21 FY20 Revenue 483.9 309.7 276.2 Gain / (Loss) on Foreign Exchange 8.5 5.8 - Total Income 492.4 315.5 276.2 Raw Material 209.5 141.8 137.4 Employee Expenses 29.9 22.2 22.2 Other Expenses 137.5 79.9 70.3 EBITDA 115.5 71.6 46.4 EBITDA

  38. Slide 38: Consolidated Balance Sheet

    Consolidated Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-22 Mar-21 Mar-20 Non-current assets 245.8 170.3 138.8 Total Equity 256.9 194.0 160.2 Property Plant & Equipment 168.3 121.2 97.8 Share capital 5.3 5.3 5.3 Right to use of assets 12.3 5.0 1.4 Other Equity 248

  39. Slide 39: Consolidated Cash Flow Statement

    Consolidated Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Mar-20 Net Profit For The Year 65.0 39.3 22.9 Adjustments for: Non-Cash Items / Other Investment or Financial Items 87.0 38.7 29.1 Operating profit before working capital changes 152.0 78.0 51.9 Changes in working capital -81.3 -2

  40. Slide 40: Standalone Profit & Loss Statement

    Standalone Profit & Loss Statement Particulars (Rs. Crs.) FY22 FY21 FY20 Revenue 388.0 248.3 214.4 Gain / (Loss) on Foreign Exchange 8.3 5.8 4.1 Total Income 396.3 254.2 218.5 Raw Material 163.6 110.2 103.7 Employee Expenses 22.3 16.0 16.7 Other Expenses 120.5 72.7 62.0 EBITDA 87.1 55.3 36.0 EBITDA

  41. Slide 41: Standalone Balance Sheet

    Standalone Balance Sheet Assets (Rs. Crs.) Mar-22 Mar-21 Mar-20 Liabilities (Rs. Crs.) Mar-22 Mar-21 Mar-20 Non-current assets 204.9 145.6 114.4 Total Equity 200.3 151.4 130.3 Property Plant & Equipment 147.0 104.9 83.8 Share capital 5.3 5.3 5.3 Right to use of assets 12.3 5.0 1.4 Other Equity 195.0

  42. Slide 42: Standalone Cash Flow Statement

    Standalone Cash Flow Statement Particulars (Rs. Crs.) Mar-22 Mar-21 Mar-20 Net Profit For The Year 51.5 26.6 12.8 Adjustments for: Non-Cash Items / Other Investment or Financial Items 44.3 34.0 25.3 Operating profit before working capital changes 95.8 60.6 38.1 Changes in working capital -30.4 -12.1

  43. Slide 43: Improving Performance

    Improving Performance Return on Capital Employed (%) Return on Equity (%) Working Capital Days +710 bps 24.0% 28.9% 70 21.8% 21.3% 63 20.7% 56 +2180 bps 51 16.9% 16.4% 20.2% 44 14.5% 13.2% 28 10.3% 7.1% FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 43

  44. Slide 44: Regular Dividend Payout

    Regular Dividend Payout Dividend 21.2% 22.8% 27.8% 21.7% 18.1% 14.3% 13.6% 9.9% Payout (excl. DDT) 24.3 21.9 18.9 18.0 14.7 8.4 6.6 5.0 5.0 4.6 4.0 2.0 2.4 1.0 1.2 1.2 2015 2016 2017 2018# 2019# 2020# 2021# 2022# EPS DPS The Board of Directors have recommended a final dividend of Rs. 1.20 per equity

  45. Slide 45: For further information, please contact

    For further information, please contact Company : Investor Relations Advisors : CIN: L26914MH1987PLC042283 CIN: U74140MH2010PTC204285 Mr. Anand Sharma – CFO Mr. Rahul Agarwal/ Ms. Khushbu Shah cfo@acrysil.com rahul.agarwal@sgapl.net/ khushbu.shah@sgapl.net +91 9821438864 / +91 9820601181 www.acrysil

Acrysil — Q1 FY23 Earnings Presentation on 6ix