Somany Ceramics Limited has informed the Exchange about Investor Presentation
23rd May, 2023
The General Manager, Corporate Relationship Dept., BSE limited, 1st Floor, New Trading Ring, Rotunda Building, P.J. Towers, Dalal Street, Fort, Mumbai-400 001 (Script Code: 531548)
The Secretary, National Stock Exchange of India Ltd., Exchange Plaza, 5th Floor, Bandra-Kurla Complex, Bandra (E), Mumbai-400 051 (Symbol: SOMANYCERA)
Sub: Investor Update for the Q4/FY22-23.
Dear Sir/Madam,
Please find enclosed herewith Investor update of Somany Ceramics Limited highlighting the performance of the Company during the quarter and financial year ended on 31st March, 2023.
This is for your information and record.
Thanking you,
Yours faithfully, For Somany Ceramics Limited
Ambrish Julka Sr. GM (Legal) and Company Secretary M No.: F4484
Encl: as above
SOMANY CERAMICS LIMITED
Investor Update – Q4’Fy23/FY23
May 23, 2023
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Somany Ceramics Ltd (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, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
Safe Harbor
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company.
Message
We witnessed a tough year on account of economic uncertainties all around the world including severe volatility in gas prices. We were able to end the year on a positive note despite all the odds. The volume and value growth of 10% and 18% respectively for FY23 demonstrating the resilience of brand SOMANY.
Q4 continued to witness muted market demand. We reported a topline growth of 10% and 9% YoY and QoQ respectively in Q4. Operating margin improved by 2.4% sequentially on account of decline in input costs including gas price and cost optimisation measures.
We maintain our optimism in the backdrop on overall economic growth in general and increasing application of tiles as a value-added product. We are well equipped to garner the growth opportunities with the demand scenario improving over the coming years.
Further, stability in gas pricing is likely to boost the trade sentiment going rigorous cost optimisation measures coupled with the forward. Our softening of other input costs will enhance the profitability.
Performance Snapshot
Capacity
Production
Sales Mix
▪
▪
▪
Tiles capacity of ~75 msm p.a. (including dedicated outsource tie ups)
▪
Sanitaryware capacity of 0.78 mn pcs p.a. (excluding outsource tie ups)
▪
Bath fittings capacity at 1.30 mn pcs p.a. (excluding outsource tie ups)
Tiles Production of 13.54 msm in Q4; Own plants (7.16 msm) and JVs (6.38 msm)
▪
Own manufacturing (43%), JVs (32%) & Others (25%)
Capacity Utilisation in Q4 at: 88% in tiles
55% in sanitaryware 73% in faucets
Financial Snapshot (Standalone)
▪
▪
Sales growth of 9% to ₹ 668 crores
PBT and PAT stood at ₹ 37 and ₹ 27 crores respectively
Sales Volume (Tiles)
Tiles Volume (msm)
16.11
3.98
6.37
5.76
17.60
4.62
5.49
7.49
57.87
13.89
21.53
22.45
63.89
15.49
20.79
27.61
Q4'Fy22
Q4'Fy23
FY 22
FY 23
Own Manufacturing
JVs (Tiles) Others Tiles
Own Manufacturing
JVs (Tiles) Others Tiles
Based on Standalone figures
Sales Value
₹ in crores
603.94
5.49
62.70
136.24
208.90
190.61
668.39
10.71
74.22
146.94
187.42
249.10
Q4'Fy22
Q4'Fy23
Own Manufacturing Others Tiles Adhesives
JVs (Tiles) Bathware
Based on Standalone figures
2426.46
33.22
244.98
510.81
712.15
925.30
FY 23
JVs (Tiles) Bathware
2060.50
17.52
207.21
440.07
683.28
712.42
FY 22
Own Manufacturing Others Tiles Adhesives
Working Capital & Net Debt
Standalone
Consolidated
220
175
137
31
234
230
149
21
296
262
221
21
391
378
268
274
237
260
39
31
245
221
184
51
Mar'21
Mar'22
Mar'23
Mar'21
Mar'22
Mar'23
Working Capital days
Debtors
Working Capital days
Debtors
Inventories
Trade payable 37
31
-0.03
0.04
0.05
Mar'21
Mar'22
Mar'23
-20
Net Debt
Net Debt Equity ratio
Inventories
Trade payable
308
280
171
0.27
0.39
0.39
Mar'21
Mar'22
Mar'23
Net Debt
Net Debt Equity ratio
Figures in INR crores; Working Capital days excluding investments & cash balance, short term borrowings, capital creditors
Profit & Loss (Standalone)
Particulars
Q4'Fy23 Q4'Fy22
Growth
FY 23
FY 22
Growth
Sales
EBIDTA
668
604
10.7%
2426
2061
17.8%
45
33
34.5%
147
150
(2.4%)
EBIDTA margin
6.7%
5.5%
-
6.0%
7.3%
-
Profit Before Tax
37
22
67.9%
123
117
5.1%
PBT margin
5.5%
3.6%
Exceptional Item
PBT after Exceptional Item
Tax expenses
Profit after tax
0
37
10
27
-
-
5.1%
5.7%
1
0
-
-
0
22
67.9%
122
117
4.2%
6
84.1%
16
62.4%
32
90
29
88
9.1%
2.6%
EPS (Rs.)
6.29
3.87
62.5%
21.21
20.67
2.6%
Figures in ₹ crores
Profit & Loss (Consolidated)
Particulars
Q4'Fy23 Q4'Fy22
Growth
FY 23
FY 22
Growth
Sales
EBIDTA
675
612
10.4%
2465
2083
18.3%
61
51
20.4%
189
207
(8.6%)
EBIDTA margin
9.0%
8.3%
-
7.7%
9.9%
-
Profit Before Tax
34
29
19.3%
95
126
(24.8%)
PBT margin
5.1%
4.7%
3.9%
6.1%
Exceptional Item
PBT after Exceptional Item
Tax expenses
Profit after tax
PAT - Controlling Interest
0
34
10
24
24
-
-
0
29
19.3%
8
20.7%
21
18.7%
17
41.6%
-
-
0
126
(26.5%)
33
(21.3%)
93
(28.4%)
89
(19.4%)
2
93
26
67
71
EPS (Rs.)
5.72
4.04
41.6%
16.83
20.88
(19.4%)
Figures in ₹ crores
Balance Sheet (Abstract)
Particulars
Fixed Assets (incld. CWIP)
Loans & Investments
Other Non-current Assets
Current Assets
Total Assets
Net Worth
Non-Controlling Interest
Total Debt
Other Non-current Liabilities
Current Liabilities
Total Liabilities
Figures in ₹ crores
Standalone
Consolidated
FY 23
FY 22
462
326
1
679
459
251
2
619
FY 23
1,062
20
29
899
FY 22
979
15
12
786
1,469
1,330
2,011
1,792
783
-
176
106
404
704
-
215
93
318
787
108
488
118
511
726
108
477
108
374
1,469
1,330
2,011
1,792
Pan India Manufacturing Facilities
1.30 mn pcs @ Derabassi, Punjab (Faucet)
23.32 MSM @ Bahadurgarh, Haryana (Tiles)
Tiles Adhesive @ Bahadurgarh, Haryana
10.13 MSM @ Ahmedabad, Gujarat (Tiles)
Tiles Adhesive @ Ahmedabad, Gujarat
21.33 MSM @ Morbi, Gujarat (Tiles)
0.78 mn pcs @ Morbi, Gujarat (Sanitaryware)
7.08 MSM @ Tirupati, Andhra Pradesh (Tiles)
Shareholding as on 31st Mar’23
Particulars
31st Mar’23
31st Dec’22
Promoters
54.8%
54.8%
21.8%
FII
DII
1.4%
1.7%
22.0%
20.7%
54.8%
22.0%
Others
21.8%
22.8%
Equity Shares
4,24,74,208
4,24,74,208
1.4%
Equity shares of ₹ 2/- each
Promoters
FII
DII
Others
For further information, please contact:
Mr. Kumar Sunit, Head – Strategy & Investor Relations
kumar.sunit@somanyceramics.com
www.somanyceramics.com
CIN - L40200WB1968PLC224116