IFBINDNSE5 June 2023

IFB Industries Limited

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Key numbers — 40 extracted
05 crore
4 0.83 6.64 (t in Crore) 3,357 5B 2.Os -77 -2.2e -4.81 Revenue growth in the Fourth Quarter is tl05 crore, a 12o/o increase over the previous year. The growth looks flat due to a lower-than-expected revenu
61 crore
by 3o/o last year due to the commodity price going down, which improved the gross margin amount by t61 crore-this was also aided by a rise in revenue. Operating expenses increased, due to higher travel costs
89.90 crore
perating expenses resulted in higher PBDIT in Quarter 4. l04l Balance Sheet Total bonowing was tl 89.90 crore as on Quarter end date including term loan amount of {107.50 crore. Break-up of borrowing is as fol
107.50 crore
lance Sheet Total bonowing was tl 89.90 crore as on Quarter end date including term loan amount of {107.50 crore. Break-up of borrowing is as follows: Borrowing . :,,,,:l , : r'r. ECB* Rupee Term Loan Rupe
52.30 crore
Fluctuation The ECB loan taken from SCB for our AC plant, initially tl4'l crore, has decreased to t52.30 crore as of the curent date (June 4,20231.|n April 2023, we made a repayment of t8.71 crore, which contri
8.71 crore
ecreased to t52.30 crore as of the curent date (June 4,20231.|n April 2023, we made a repayment of t8.71 crore, which contributed to the decrease in the loan amount. Washer Factory Steel Division 6.31 189.90
70 crore
Federal Bank SCB The Term loan taken from DBS for our Engineering business, which was initially {70 crore, has reduced to {9.30 crore after making various pre-payments and regular repayments according to t
9.30 crore
rm loan taken from DBS for our Engineering business, which was initially {70 crore, has reduced to {9.30 crore after making various pre-payments and regular repayments according to the schedule. For the Stampin
35 crore
ents according to the schedule. For the Stamping Division loan taken from lClCl Bank, amounting to {35 crore in four instalments paid in May, August, November, and February 2O23. This brought the current outs
8.20 crore
ht the current outstanding balance to t2B crore. As of March 2023, the Steel Division has borrowed (8.20 crore for their Capital Expenditure (Capex) project. losl 4 As against our borrowings as on March 31,2
182.59 crore
arch 31,2023, our total cash and bank balances, including investments in Mutual Funds, amounted to {182.59 crore. Hence the Company's cash balance was slightly lower than its total debt amount. Break-up of cash
93.44 Crore
(including investments in Mutual Fund) Cash and Bank Balances lnvestments in Mutual Fund Total <93.44 Crores t89.15 Crores {182.59 Crores The reduction in our cash balance can be attributed to our investmen
Guidance — 20 items
Break-up of borrowing is as follows
opening
“As of March 2023, the Steel Division has borrowed (8.20 crore for their Capital Expenditure (Capex) project.”
Break-up of borrowing is as follows
opening
“Break-up of cash & bank balances (including investments in Mutual Fund) Cash and Bank Balances lnvestments in Mutual Fund Total <93.44 Crores t89.15 Crores {182.59 Crores The reduction in our cash balance can be attributed to our investment in the Refrigerator Project.”
Break-up of borrowing is as follows
opening
“However, we are taking steps to adjust production and anticipate that the working capital utilisation will improve by June 2023.This initiative will not only enhance our creditor positions, but also contribute to improved cash positions in our operations.”
Break-up of borrowing is as follows
opening
“However, we anticipate a stable demand scenario in the medium term.”
Break-up of borrowing is as follows
opening
“ln the current fiscal year, our target is to convert approximately 200 to 250 more stores to the new design.”
Break-up of borrowing is as follows
opening
“Our teams will devise a comprehensive plan to secure a monthly business of around {3 crore from Bangalore, over {75 lakh individually from Coa and Mumbai within the short timeframe of the Second Quarter.”
Break-up of borrowing is as follows
opening
“Our primary objective is to increase our market share, which will be achieved through two key initiatives.”
Break-up of borrowing is as follows
opening
“Additionally, we are developing loT features for this category and plan to roll them out in a phased manner by the ESecond Quarter of the 2023-24 fiscal year.”
Break-up of borrowing is as follows
opening
“These new models will be launched in the First Quarter of the 2023-24 fiscal year.”
Break-up of borrowing is as follows
opening
“Additionally, we have plans to upgrade this category with Heat Pump technology by the end of the 2O23-24 fiscal year-these will be ready for market introduction in the early part of the next fiscal year.”
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Risks & concerns — 14 flagged
Although we had aimed to improve this in the Fourth Quarter, the market slowdown, particularly in February 2O23,hindered our progress.
— Break-up of borrowing is as follows
However, the demand for 2W may remain flat or experience a slight decline.
— Break-up of borrowing is as follows
The decline in COVID-'19 cases has also contributed to the stability of the economy and prevented major disruptions.
— Break-up of borrowing is as follows
Dishwashers The domestic dishwasher segment has experienced a decline in demand compared to previous Quarters.
— Break-up of borrowing is as follows
There was improvement in gross margin amount due to decline in material cost percent by 3.3o/o.
— Break-up of borrowing is as follows
We understand that our revenue and margin are facing challenges, and this is a concern for us.
— Break-up of borrowing is as follows
Additionally, we are actively working on reducing monthly expenses across divisions and we anticipate the impact of these measures to be visible from Q2 of FY 23-24.
— Break-up of borrowing is as follows
However, we are delayed by three years mainly due to impact of COVID-'!9 which affected OEM output.
— Break-up of borrowing is as follows
Consequently, the Division experienced a significant decline in both revenue and margin.
— Break-up of borrowing is as follows
However, there was a slowdown in production during Q4 of FY 23 due to regulatory issues.
— Break-up of borrowing is as follows
Despite this, the initiative to explore new business opportunities and mitigate the impact of electric vehicles (EV) is ongoing.
— Break-up of borrowing is as follows
Steel prices continued to decline from April 22 till December 22, however they increased in Q4 FY 23 and are expected to remain stable during FY 24.
— Break-up of borrowing is as follows
Despite higher quantity sales, the Fourth Quarter of fiscal year 2022-23 experienced a decline in revenue due to a decrease in steel prices by approximately t8,400 per metric ton, which impacted the top line.
— Break-up of borrowing is as follows
During the Quarter, despite an increase in revenue, there was a decline in profit margin.
— Break-up of borrowing is as follows
Speaking time
IFB lndustries management will be represented by
1
Break-up of borrowing is as follows
1
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Opening remarks
IFB lndustries management will be represented by
Mr. Prabir Chatterjee {Director & CFO}, Mr. Rajshankar Ray {MD & CEO - l-lome Appliances Division), Mr. Arup Das (Head Marketing - Engineering Division) and Mr. Anand Reddy (CEO Motor division) Express Join with SiamondPassrM No Wait Time Universal Dial-ln lnternational Toll Free +91 22 6280 1304 +91 227115 82Os Argentina Australia Belgium Canada China France Germany Hong Kong Italy Japan 0080014243444 1 800053698 0080014243444 01180014243444 4008428405 0800914745 0080014243444 800964448 0080014243444 00531 161110 Netherlands 08000229808 Poland 008001 124248 Singapore 8001 01 2045 South Korea 00180014243444 Sweden Thailand UK USA 0080014243444 00180014243444 08081 011573 18667462133 For further details, contact: l\latasha Jain - 9833777622 {natasha.jain@nirmalbang.com} Prasheel Gandhi * 99041 8039G {gandhi.prasheel@nirmalbang.com} Julie Raphael - 9819032195 (julie.raphael@nirmalbang.com) rrBIFB lndustries Limited Financial Report Quartelan"d; Year ErrOeA,fil sFM *Wh; 2te23 {r& ffi oo T
Break-up of borrowing is as follows
Borrowing . :,,,,:l , : r'r. ECB* Rupee Term Loan Rupee Term Loan Rupee Term Loan rl',t : ,a 9.30 28.00 61.00 StandardChartered 8.20 Federal Bank .' oes B;k lClCl Bank '.'.: t j,lllt:' AC Project Steel Division (( in Crore) Five Years Six years Engineering Division Five Years Stampi Division Seven Years Seven Years Motor Division SCB 1.00 49.59 26.50 lClCl Bank Rupee Term Loan Working Capital Buyers Credit* Working Capital Demand Loan Working Capital Demand Loan Total *The above figures do not take into account Exchange Fluctuation The ECB loan taken from SCB for our AC plant, initially tl4'l crore, has decreased to t52.30 crore as of the curent date (June 4,20231.|n April 2023, we made a repayment of t8.71 crore, which contributed to the decrease in the loan amount. Washer Factory Steel Division 6.31 189.90 Home Appliances Federal Bank SCB The Term loan taken from DBS for our Engineering business, which was initially {70 crore, has reduced to {9.30 crore after making various pre-payme
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