Hindware Home Innovation Limited
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Key numbers — 40 extracted
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Guidance — 1 items
Address
opening
“By attending this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company’s business.”
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Speaking time
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Opening remarks
Address
Membership No.: 16068 Payal M Puri 301-302, 3rd Floor, Park Centra, Sector-30, Gurugram-122001 Q2 & H1 FY23 Financial Result Presentation November 14, 2022 1 Disclaimer This presentation has been prepared by Hindware Home Innovation Limited (formerly Somany Home Innovation Limited) (the “Company”) solely for your information and may not be distributed, reproduced, or redistributed or passed on directly or indirectly to any other person, whether within or outside your organization or firm, or published in whole or in part, for any purpose by recipients directly or indirectly to any other person. By accessing this presentation, you agree to be bound by the following restrictions and to maintain absolute confidentiality regarding the information disclosed in these materials. The Company may alter, modify or otherwise change in any manner the contents of this presentation, without obligation to notify any persons of such change or changes. This presentation and its contents are confidentia
About Us
The company is refreshing its identity to Hindware Home Innovation Limited^ ▪ A Consumer Appliances and Building Products Company ▪ Owner of Hindware, a reliable and trusted brand across India ▪ Leveraging innovation and expansive distribution infrastructure across businesses o Building Products Business – • Well entrenched distribution network supported by strong and efficient manufacturing and sourcing capabilities − Leading player in sanitaryware & faucets space − Leading growth in plastic pipes and fittings solutions − Expanding manufacturing for our plastic pipes business to cater to markets across geographies Hindware Home Innovation Limited^ Consumer Appliances Retail 100% Subsidiary Companies JV* 50% Hindware Ltd.# Building Products Evok Homes Retail Pvt. Ltd. (Evok.in) B2C E-commerce HPL Water Heater o Consumer Appliances Business – innovative offerings across varied product categories o Retail Business - Specialty home interior products under the brand ‘Evok’ Hintastica Priva
Notes
• In Bathware, EBIT remained muted as a result of a sharp rise in the cost of key inputs, specifically from Q3FY22. H1FY23 fuel and power costs were higher as compared to the previous year o A rising input price environment has limited the benefits derived from its own manufacturing following the acquisition of AGI Greenpac Limited's Building Products business • Undertook calibrated price hikes during H1FY23 to offset the impact of higher input prices, the result of these hikes is expected to be visible going forward • Q1 & Q2FY23 numbers are post acquisition of the Building Products manufacturing division of AGI Greenpac Limited (formerly HSIL Limited) by wholly owned subsidiary Hindware Limited. Hence, the consolidated results for the quarter ended 30th September 2022 are not comparable with Q2FY22 • Above stated financials are rounded off and as per management reported figures 9 Bathware Business Update – H1 FY23 Revenue 48% YoY 743.4 503.9 EBITDA Margin (%) 92% YoY 49.9 9.9% 95
Notes
• In Bathware, EBIT remained muted as a result of a sharp rise in the cost of key inputs, specifically from Q3FY22. H1FY23 fuel and power costs were higher as compared to the previous year o A rising input price environment has limited the benefits derived from its own manufacturing following the acquisition of AGI Greenpac Limited's Building Products business • Undertook calibrated price hikes during H1FY23 to offset the impact of higher input prices, the result of these hikes is expected to be visible going forward • H1FY23 numbers are post acquisition of the Building Products manufacturing division of AGI Greenpac Limited (formerly HSIL Limited) by wholly owned subsidiary Hindware Limited. Hence, the consolidated results for the half year ended 30th September 2022 are not comparable with H1FY22 • Above stated financials are rounded off and as per management reported figures 10 Plastic Pipes & Fittings Business Update ▪ Truflo continues to be the fastest growing plastic pipes brand i
Notes
1. Q1 & Q2FY23 numbers are post acquisition of the Building Products manufacturing division of AGI Greenpac Limited (formerly HSIL Limited) by wholly owned subsidiary Hindware Limited. Hence, the consolidated results for the quarter ended 30th September 2022 are not comparable with 30th September 2023 2. Above stated financials are rounded off and as per management reported figures 12 Plastic Pipes & Fittings Business Update – H1FY23 Revenue 50% YoY 367.4 245.3 EBITDA Margin (%) 12% YoY 16.4 18.4 (₹ in crore) EBIT Margin (%) 14.2 -46% YoY 7.6 H1FY22 H1FY23 H1FY22 H1FY23 H1FY22 H1FY23 6.7% 5.0% 5.8% 2.1% PBT Margin (%) Net Working Capital (Days) Net Bank Debt 13.1 5.4% H1FY22 -3.5 -0.9% H1FY23 60 355.6 37 H1FY22 H1FY23 -1.4 H1FY22 H1FY23
Notes
1. H1 FY2023 numbers are the post acquisition of the Building Products manufacturing division of AGI Greenpac Limited (formerly HSIL Limited) by wholly owned subsidiary Hindware Limited. Hence, the consolidated results for the Half year ended 30th September 2022 are not comparable with 30th September 2023 2. Above stated financials are rounded off and as per management reported figures 13 Consumer Appliances Business Update ▪ Strong product profile and brand salience combined with a sharp focus on innovation helped offset the impact of a highly inflationary environment o In Q2 FY23, revenue grew 12% to ₹125 crore, and EBIT came in at ₹7 crore in Q2 FY23 o In H1 FY23 revenue grew 42% to ₹254 crore and EBIT came in at ~₹10 crore ▪ EBIT Margins expansion in H1FY23 was driven by a better sales mix towards the premium range and easing of inflationary commodity pressures leading to retrieval of Gross Margins ▪ Continued focus on new product introductions: new models SKUs launched across prod
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