Kajaria - NSE
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Kajaria YEARS OF TRANSFORMATION January 21,2021 SSE Limited P.J. Tower Dalal Street, Fort Mumbai - 400 001 The National Stock Exchange of India L Exchange Plaza Sandra Kurla Complex Sandra (E) Mumbai - 400 051 Dear Sir, Sub: Investor Release Pursuant to the provisions of the SESJ (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith an Investors' Release dated January 21, 2021, specifying the summary of financial performance and other developments for the quarter/nine months ended December 31,2020. Thanking you, Yours faithfully, For Kajaria Ceramics Limited ~/ COO (A&T) & Company Secretary Encl.: As above Kajaria Ceramics Limited Corporate Office: 11/81 (Extn.), Mohan Co .op Industrial Estate, Mathura Road, New Delhi - 110044, Ph.: +91 11-269464091 Fax: +91-11- 26946407 Regd Office: SF 1 L Second Floor, IMD Regent Plaza, Mehrauli Gurgaon Road, Village Sikanderpur Ghosi, Gurgaon-12200 1, Haryana, Ph.: +91 124 4081281 CIN No.: L26924HR1985PLCOS6150, E-mail: [email protected] 1Web.: www.kajariaceramics.com
Transcript of Kajaria - NSE
KajariaYEARS OF
TRANSFORMATION
January 21,2021SSE LimitedP.J. TowerDalal Street, FortMumbai - 400 001
The National Stock Exchange of India LExchange PlazaSandra Kurla ComplexSandra (E)Mumbai - 400 051
Dear Sir,
Sub: Investor Release
Pursuant to the provisions of the SESJ (Listing Obligations and DisclosureRequirements) Regulations, 2015, please find enclosed herewith an Investors' Releasedated January 21, 2021, specifying the summary of financial performance and otherdevelopments for the quarter/nine months ended December 31,2020.
Thanking you,
Yours faithfully,For Kajaria Ceramics Limited
~/
COO (A&T) & Company Secretary
Encl.: As above
Kajaria Ceramics LimitedCorporate Office: 11/81 (Extn.), Mohan Co .op Industrial Estate, Mathura Road, New Delhi - 110044, Ph.: +91 11-269464091 Fax: +91-11- 26946407
Regd Office: SF 1L Second Floor, IMD Regent Plaza, Mehrauli Gurgaon Road, Village Sikanderpur Ghosi, Gurgaon-12200 1, Haryana, Ph.: +91 124 4081281CIN No.: L26924HR1985PLCOS6150, E-mail: [email protected] 1Web.: www.kajariaceramics.com
January 21, 2021
KAJARIA CERAMICS LIMITED
Investor Update –Q3FY21
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Investor Update Q3 FY21
Content
Chairman’sMessage
Financial Performance – Q3FY 21
Balance sheet perspective
Subsidiaries
Income Statement
Shareholding Pattern
2/14
Chairman’sMessage
3/14
The resurgent India is gaining momentum.
The resilient spirit of the average Indian supported our growth aspiration. Our sales volumes have improved by 11%, sales have increased by 13% over the corresponding quarter of the previous year. Operating margins have touched a new high of 21.68% in Q3’21.
The tile industry witnessed gradual demand pickup from the month of July onwards. Tile consumption has found its way into the smaller cities and retail markets as the heat of pandemic was felt much more in the urban markets at that point in time. Tier 2 and below markets, we believe will continue to thrive in future as well.
For this year Board has decided to pay a interim dividend of Rs. 10 per equity share.
We take this opportunity to wish our stakeholders a happy, healthy and rewarding 2021.
Investor Update Q2 FY21
Investor Update Q3 FY21
Tile VolumeData (consolidated)
Production Growth (MSM) - Q3 FY21
Sales Growth (MSM) –Q3FY21
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Production Growth (MSM) - 9M FY21
Sales Growth (MSM) –9MFY21
11.64 12.54
5.73 4.65
17.37 17.19
0
4
8
12
16
20
Q3 FY20 Q3 FY21Own Manufacturing Subsidiaries
33.4425.34
15.69
9.25
49.14
34.59
0
10
20
30
40
50
9M FY20 9M FY21Own Manufacturing Subsidiaries
11.33 12.17
5.16 4.87
3.955.55
20.44
22.59
0
5
10
15
20
Q3 FY20 Q3 FY21
Own Manufacturing Subsidiaries Outsource
33.2927.83
14.14
10.55
12.40
11.67
59.83
50.05
0
10
20
30
40
50
60
9M FY20 9M FY21
Own Manufacturing Subsidiaries Outsource
Investor Update Q3 FY21
RevenueGrowth - consolidated
Rs. / Crores
Refer Slide 12 for detailed IncomeStatement 5/14
397.36 416.89
167.34171.68
118.98
169.6449.53
67.368.09
12.75741.30
838.32
0
200
400
600
800
Q3 FY20 Q3 FY21
Plywood
Sanitary ware / Faucets
Outsourcing (Tiles)
Subsidiaries (Tiles)
Own Manufacturing (Tiles)1179.30
947.22
451.21
371.96
369.22
347.71
133.10
137.69
23.14
23.81
2155.97
1828.39
0
400
800
1200
1600
2000
2400
9M FY20 9M FY21
Plywood
Sanitary ware / Faucets
Outsourcing (Tiles)
Subsidiaries (Tiles)
Own Manufacturing (Tiles)
Investor Update Q3 FY21
Profitability - Consolidated
Rs. / Crores
Refer Slide 12 for detailed IncomeStatement 6/14
PBT PAT
83.84
158.05
0
20
40
60
80
100
120
140
160
Q3 FY20 Q3 FY21
245.43243.54
50
100
150
200
250
300
9M FY20 9M FY21
61.54
118.94
0
20
40
60
80
100
120
140
Q3 FY20 Q3 FY21
205.74
180.96
50
100
150
200
250
9M FY20 9M FY21
Investor Update Q3 FY21
EBITDA / EBITDA Margin (consolidated) –quarterlyprogressionR
s./C
rore
s
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111.33
93.37
143.69
181.77
15.02%14.32%
-2.73%
20.17%
21.68%
-3%
2%
7%
12%
17%
22%
-7
18
43
68
93
118
143
168
193
Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21
EBITDA (Rs. / Crores) EBITDA Margin (%)
-7.57
Investor Update Q3 FY21
Key Ratios(consolidated)…………
* Net of cash and cash equivalents
Net Debt Equity(X) *Net Debt (Rs.Crore) *
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88
-132-107
-424
-500
-400
-300
-200
-100
0
100
200
Mar-18 Mar-19 Mar-20 Dec-20
0.06
-0.08-0.06
-0.22
-0.30
-0.20
-0.10
0.00
0.10
0.20
Mar-18 Mar-19 Mar-20 Dec-20
Investor Update Q3 FY21
Key Ratios(consolidated)
• ROE as on 31st Dec. 20 taken at averageofnetworthas on 31st Mar.20 & 31st Dec. 20 and on 9M FY21 PAT.
• Working capital days’ excludes capex creditors and cash, cash equivalent & bank balance. For calculation of working capital cycle Q2 and Q3
FY21 sale has been considered.
Return on Equity (Avg.)Working Capital (Rs. Crore)
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Working Capital (Days)
18.61
15.49 15.53
13.35
10
20
30
Mar-18 Mar-19 Mar-20 Dec-2060 58
73
55
0
20
40
60
80
100
120
Mar-18 Mar-19 Mar-20 Dec-20
451475
397 382378406
513
380
258309
239
182
50
150
250
350
450
550
Mar-18 Mar-19 Mar-20 Dec-20
Debtors Inventory Creditors
Investor Update Q3 FY21
A. JAXX VITRIFIED
Jaxx Vitrified is based in Morbi (Gujarat). Kajaria has 87.37% stake in the same.
Jaxx had combined annual capacity of 7.60 MSM of polished vitrified tiles. Jaxx
has operated at 100% during Q3 FY21.
B. VENNAR CERAMICS
Vennar is based in Vijayawada (Andhra Pradesh). Kajaria has 51% stake in the
same. Vennar has annual capacity of 2.90 MSM of high end ceramic wall tiles.
Vennar has operated at 100% capacity during Q3 FY21.
C. COSA CERAMICS
Cosa is based in Morbi (Gujarat). Kajaria has 51% stake in the same. Cosa has
annual capacity of 5.70 MSM of polished vitrified tiles. Cosa has operated at 60%
during Q3 FY21 due to conversion of one line into GVT.
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Subsidiaries
Investor Update Q3 FY21
Subsidiaries
D. KAJARIA TILES PRIVATE LIMITED*
Kajaria Tiles (a wholly owned subsidiary) has commissioned a manufacturing facility of
glazed vitrified tiles with a capacity of 5.00 MSM p.a. in Andhra Pradesh and started
commercial production in September 2019. Plant has operated at 100% in Q3 FY21.
E. KAJARIA BATHWARE (P) LTD. (KBL)
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 situated in Morbi (Gujarat) having
production capacity of 6.00 lac pcs p.a. And also commissioned additional
capacity of 1.50 lac pcs p.a. in September 2019. Plant has operated at 72% in
Q3 FY21.
b) Faucet: This facility is situated at Gailpur (Rajasthan) having 1.00 million
pcs p.a. Plant has operated at 100% capacity in Q3 FY21.
.
*(Formerly known as Kajaria Floera Ceramics Pvt. Ltd.)
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Investor Update Q3 FY21
IncomeStatement
Financial highlights (Rs / Crores)
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Q3 FY21 Q3 FY20 Growth 9M FY21 9M FY20 Growth
Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated Standalone Consolidated
Net Sales 756.26 838.32 677.64 741.30 12% 13% 1663.92 1828.39 1968.74 2155.97 -15% -15%
EBITDA 148.05 181.77 98.19 111.33 51% 63% 278.79 317.89 293.25 322.53 -5% -1%
EBITDA MARGIN 19.58% 21.68% 14.49% 15.02% 16.75% 17.39% 14.90% 14.96%
Depreciation 19.09 27.56 19.59 27.78 -3% -1% 55.26 80.14 58.75 79.75 -6% 0%
Other Income 14.53 6.45 12.38 5.13 17% 26% 36.62 13.86 36.08 17.23 1% -20%
Interest 1.16 2.61 1.86 4.84 -38% -46% 3.75 8.07 6.06 14.58 -38% -45%
Exceptional Items - loss (gain)
Profit Before Tax 142.33 158.05 89.12 83.84 60% 89% 256.40 243.54 264.52 245.43 -3% -1%
Tax Expense 36.52 37.02 23.07 22.58 58% 64% 66.25 65.81 41.09 40.72 61% 62%
Minority Interest 2.09 -0.28 -3.23 -1.03
Profit After Tax 105.81 118.94 66.05 61.54 60% 93% 190.15 180.96 223.43 205.74 -15% -12%
Cash Profit 124.90 146.50 85.64 89.32 46% 64% 245.41 261.10 282.18 285.49 -13% -9%
Equity Share Capital 15.91 15.91 15.90 15.90 15.91 15.91 15.90 15.90
EPS (Basic) (Rs.) 6.66 7.48 4.16 3.87 60% 93% 11.96 11.38 14.06 12.94 -15% -12%
Investor Update Q3 FY21
Shareholding Pattern
As on 31st Dec. 2020
Equity Shares Outstanding– 159.08millions
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47.54%
36.93%
0.42%
15.11%
Shareholding
Promoters
Public / Others
NRI's
FIs /FPIS / Mutual Funds
Investor Update Q3 FY21
AboutUs
For further information, please visit www.kajariaceramics.comor contact:
Mr. SanjeevAgarwal, C FO
+91 11 26946409 (Board),
+91 11 41064110 (Direct)
Email: [email protected]
Disclaimer: Certain Statements in this document may be forward-looking within the meaning of applicable laws and regulations. And
actual results might differ substantially from those expressed or implied. Such statements are subject to certain risks and uncertainties
like regulatory changes, local political or economic developments, technological risks, and many other factors could cause our actual
results to differ. Kajaria Ceramics Limited will not be in any way responsible for any action taken basedon such statements.
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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 70.40 mn. sq.
meters presently, distributed across eight plants - one at Sikandrabad in Uttar
Pradesh, one at Gailpur and one at Malootana in Rajasthan, three at Morbi in
Gujarat and one at Vijayawada and one at SriKalahasti inAndhra Pradesh.
