BUTTERFLY GANDHIMATHI APPLIANCES LIMITED RESULTS PRESENTATION Q4 & & F FY16 www.butterflyindia.com
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 uncertainties relating to these statements include, but are not limited to, fluctuations in earnings, our ability to manage growth, competitive intensity in our industry of operations including those factors which may affect our cost advantage, wage increases, our ability to attract and retain highly skilled professionals, sufficient availability of raw materials, our ability to successfully complete and integrate potential acquisitions, liability for damages on our contracts to supply products, the success of the companies in which Butterfly Gandhimathi Appliances Ltd has made strategic investments, withdrawal of governmental fiscal incentives, political instability, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Butterfly Gandhimathi Appliances Ltd may, from time to time, make additional written and oral forward- looking statements, including our reports to shareholders. The Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the company www.butterflyindia.com 3
Contents Company ny Overview view 1 Financi ncial al Overview rview 2 3 Q4 & & FY16 Opera rati ting ng Perfo form rmance ance & Highlights ights 4 Outlo look ok www.butterflyindia.com 4
Company Overview 1 www.butterflyindia.com
About Us.. Leading manufacturer of Kitchen and Electrical Appliances Market Leader in India for SS LPG Stoves & Table Top Wet Grinders and major supplier of Mixer Grinders & Pressure Cookers The „Butterfly‟ brand is a highly respected brand synonymous with quality Established in 1986 by Shri V. Murugesa Chettiar - currently helmed by 2nd and 3rd generation of promoter family Headquartered in Tamil Nadu with Pan India presence Strong R&D focus which has led to several pioneering initiatives and continues to drive in-house development of new products Healthy Balance Sheet with continuously improving Financial Indicators Mix of industry growth and Company initiatives has led to traction in Revenues in last few years www.butterflyindia.com 6
Quick Facts IN THE TOP IN INDIA BRANDED IN INDIA FOR DOMESTIC FOR SS LPG STOVES REVENUE CAGR KITCHEN APPLIANCES & TABLE TOP WET GRINDERS FY11-16 SALES OF BRANDED NOW PRESENT IN ALL PRODUCTS IN FY16 EXCLUSIVE STATES IN INDIA CRORE DISTRIBUTORS ACROSS INDIA NET DEBT / EQUITY OF FY16 EXPANSION IN PRODUCT RATIO REVENUES FROM NON- CATEGORIES IN LAST 24 SOUTH STATES MONTHS www.butterflyindia.com 7
Growth Levers Initiatives Impact Fresh growth avenues in existing markets o Wide der r Produc duct Offe ferin ring Accelerated growth opportunity in new markets o Addressable market increases manifold o Geograp raphica ical l Expan ansio sion Wider National footprint o Expansion in blended margins o Premium ium Produ duct cts Attracts new categories of customers o Poised to address growth in demand arising o Capa pacit city y Expan ansio sion from selling & marketing initiatives and geographic expansion www.butterflyindia.com 8
Product Portfolio Every ery produc uct t exhi hibit its s the e highes ghest t stand ndard rds s in Safe fety ty, , Dura rabili lity, ty, Effic icienc ency, y, Aest sthet hetics s & & Reli liabilit ity LPG Stove Mixer Grinder Table Top Electric Chimney Wet Grinder Pressure Cooker Non Stick Cookware Induction Cooktop Electric Rice Cooker Juicer Mixer Grinder Electric Kettle Sandwich Maker Air Cooler www.butterflyindia.com 9
Product Portfolio Other her Pion onee eeri ring ng Prod oduc ucts ts Juicer Washer Hand Blender Water Heater Electric Iron Pop-up Toaster www.butterflyindia.com 10 10
Milestones • Bagged the TNCSC order for the 4 th • Bagged the first consecutive year – • First in India to TNCSC order of Rs. latest order be awarded ISO 285 crore for amounting to Rs. 9000 manufacturing of 510 crore for certification for Table Top Wet manufacturing of its LPG Stoves Grinder and Mixer TTWGs and Mixer Grinders – Highest in • Won order for Rs. • First to Launch Grinders the organized sector 90 crores from Stainless Steel • Launched • Awarded ISO • Name changed to Pondicherry Co-op Vacuum Flasks proprietary 3 9000 Butterfly Gandhimathi Wholesale Stores in India conical stone certification Appliances Ltd from • Launched to supply TTWGs • Launched Mixer grinding Gandhimathi for Table Top 50 new and mixer Grinders • Listed on BSE technology Wet Grinder Appliances Ltd SKUs grinders 2002 2002 2013 2013 2015 2015 1989 1989 1999 1999 1994 1994 2011 2011 2000 2000 2005 2005 2016 2016 2012 2012 1986 1986 1992 1992 2014 2014 1998 1998 • First in India • Year of • Invented Brazing • Awarded • Commenced • First in India • Preferential Issue to • Launched 4 new to be awarded Incorporation Machine with In- patent for exports to to receive Reliance PE – raised Rs. Product “BEE Label house Technology 3 conical USA, UK, „GREEN 100 crore of growth Categories • Imported with 2 star which replaced stone Table Canada, LABEL‟ capital machinery to set • Added 60 SKUs to rating” for the hazardous Top Wet Mauritius, Certification up manufacturing • Net sales crossed Rs. product range manufacture copper plating Grinder Australia & for high operations 500 crore - growth of • Enhanced Pan- of LPG stoves process for Japan thermal 140% over the previous • First to launch India presence to Pressure efficient LPG • Successful fiscal Stainless Steel include all 28 Cooker/Utensils – Stoves completion of Pressure Cookers • Established a branch states successful both TNCSC in India office in the United • Acquired a indigenous and Kingdom to oversee • Launched LPG division from substitution for Pondicherry and promote exports Stoves Associate imported Co-op in the region Company LLM technology Wholesale Appliances Stores orders www.butterflyindia.com 11 11
Revenue Profile Ann nnual al Reven venue e (Rs. crore) e) 995 995 CAGR: 30% 839 839 807 807 46% 642 642 39% 577 577 46% 16% 44% 267 267 54% 61% 84% 54% 56% 100% FY11 FY12 FY13 FY14 FY15 FY16 Branded Sales Govt Order Note: FY15 Government Tender was deferred and combined with FY16 tender which resulted in increased Govt. revenues in FY16 www.butterflyindia.com 12 12
Government Orders Governm rnment nt Orde der r Sales s (Rs. Produc ucts s supplie plied d (in lakh units . crore re) ts) 461 369 331 21.3 16.1 15.9 92 4.5 3.0 3.0 0.7 0.0 FY13 FY14 FY15 FY16 FY13 FY14 FY15* FY16 TTWG Mixer Grinder For the last 4 years in succession, BGMAL won orders in the annual tender of Tamil Nadu Civil Supplies Corporation (TNCSC). In January 2015, the Company bagged orders worth Rs. 510 crore* for supply of Table Top Wet Grinders from TN Govt in CY2016. This order marked the completion of the TN Govt order under the current regime In August 2015, the Company also bagged orders worth Rs. 90 crore for supply of Table Top Wet Grinders and Mixer Grinders from Pondicherry Co-Op. Wholesale Stores (PCWS) Benef nefit its to BGMA MAL Incremental contribution to profitability, favorable payment • Orders Comple leted ed terms enabling a positive cash flow business Order size Balance receive ived till-date till date (Rs. Crore) (Rs. Crore) from (Rs. Crore) Increase in volumes have elevated BGMAL‟s manufacturing • and delivery capabilities TNCSC* 463 463 0 Increased number of users of the Company‟s products has • PCWS 90 90 0 led to an increase in the potential market for the Company TOTAL 553 553 0 Creates ready customer base which will materialize at the • time of product replacement or upgradation Note: Govt. Order for FY15 was received only in Jan, 2015 hence the revenues accrued primarily in FY16. Delivery experience has led to innovation and launch of • * The order size for TNCSC has been revised from Rs. 510 economy models which have aided growth in Branded Sales crore to Rs. 463 crore www.butterflyindia.com 13 13
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