Sahyadri Industries Limited has informed the Exchange about Investor Presentation
Date: 06th February, 2025
To, To, The Listing Manager The Manager Department of Corporate Services Listing Department Bombay Stock Exchange National Stock Exchange of India Limited P. J. Towers, Dalal Street, “Exchange Plaza”-C1,Block G Mumbai – 400001 Bandra-Kurla Complex , Bandra (E) Mumbai 400 051
Scrip Code:532841 SYMBOL: SAHYADRI
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
Dear Sir/Madam,
Please find attached herewith Investors Presentation for the quarter ended on 31st December, 2024
Please take the same on record and disseminate to the stakeholders.
Thanking you,
Yours Faithfully, FOR SAHYADRI INDUSTRIES LIMITED
RAJIB K. GOPE COMPANY SECRETARY & COMPLIANCE OFFICER M. NO: F8417
Sahyadri Industries Limited
Investor Presentation February 2025
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sahyadri Industries Limited. (herein after read as “Sahyadri Industries”), 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.
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.
2
Q3 & 9M FY25 Update
Management Commentary
Commenting on the results and performance Mr Satyen Patel, Managing Director of Sahyadri Industries Limited, said: "The company reported a total income of ₹456.2 crore in 9MFY25, on account of sluggish demand and continued weakness in the rural economy. The extended monsoons in western India especially Gujarat and southern India, along with the cyclone in Tamil Nadu, impacted the company's overall performance.
Stabilization in raw material costs has led to a 180 bps YoY improvement in gross margin to 43.7% in 9MFY25. However, EBITDA margin was impacted primarily by rising ocean freight costs.
Capacity utilization stood at 67% in 9MFY25, compared to 73% in the same period last year, as we continue to optimize operations in line with demand trends.
Moving ahead, on recovery of rural economy, we are well-equipped to drive growth and capitalize on emerging opportunities.”
4
9MFY25 – Performance Highlights
(Rs in Cr)
Total Income*
456.2
EBITDA
44.2
PAT
15.2
Building Material Performance
Revenue
472.2
444.1
9MFY24
9MFY25
EBIT
31.4
17.3
9MFY24
9MFY25
* Includes other income
5
Profit & Loss Statement
Particulars (Rs. Cr)
Total Income
Cost of Goods Solds
Gross Profit
Gross Profit Margin
Employee Cost
Other Expenses
EBITDA
EBITDA Margin
Depreciation
EBIT
EBIT Margin
Finance Cost
Profit before Tax
Profit before Tax Margin
Tax
Profit After Tax
Profit After Tax Margin
EPS
* inclusive of Other income
Q3FY25
Q3FY24
131.7
72.8
58.9
44.7%
10.7
39.2
9.0
6.8%
6.1
2.9
2.2%
1.9
1.0
0.8%
0.3
0.8
0.6%
0.70
136.3
76.0
60.3
44.2%
10.0
36.5
13.8
10.1%
6.1
7.6
5.6%
3.3
4.4
3.2%
1.2
3.2
2.3%
2.90
YoY
-3.4%
-2.3%
-34.6%
-62.2%
-76.4%
-76.0%
Q2FY25
106.8
48.9
57.9
54.2%
11.0
36.7
10.3
9.6%
6.1
4.1
3.9%
1.4
2.7
2.5%
0.8
1.9
1.8%
1.76
QoQ
23.3%
1.7%
-12.4%
-29.9%
-61.6%
-60.6%
9MFY25
9MFY24
456.2
257.0
199.2
43.7%
32.8
122.2
44.2
9.7%
18.5
25.7
5.6%
5.2
20.5
4.5%
5.3
15.2
3.3%
483.7
281.2
202.5
41.9%
30.4
116.2
55.8
11.5%
17.6
38.2
7.9%
8.4
29.8
6.2%
7.8
22.1
4.6%
YoY
-5.7%
-1.6%
-20.9%
-32.7%
-31.3%
-31.3%
13.87
20.18
6
Capex Update
Maharashtra
Orissa
Note – Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness
Location
Orissa
Maharashtra
Product Type
Asbestos Corrugated Sheet
Non-Asbestos Cement Boards
Capacity (MTPA)
1,20,000
CAPEX (Rs in Cr)
95
72,000
95
Source of Fund
Internal Accruals & Debt
Internal Accruals & Debt
Products Catering to
East Market
Western & North India
Remarks
• Company is in process of setting up a new unit
Rational
To enter unrepresented markets of Orissa, Jharkhand, West Bengal & Bihar
• Activities related to setting
up a new unit for manufacturing of Non- Asbestos Cement Boards have been initiated
• Land has been identified and
acquisition is in process
To expand its existing market in Western India, Exports and to enter unrepresented market of North India
7
Company Overview
A Niche Player in the Construction Industry
Product Portfolio
Making Difference
Rich Legacy
Distribution Network
Geographic Reach
Certification
• Sahyadri's product portfolio includes innovative, specialized, and futuristic products capable of addressing today's challenges
• The product portfolio
of the company comprises of Roofing Sheets, Fibre Cement Boards, and Flat Sheets
• Sahyadri Industries is a
building solutions pioneer, providing a comprehensive range of products for interior and exterior building systems, as well as roofing solutions
• The Company’s products such as Swastik roofs, Cemply flat sheets and EcoPro Fibre Cement Board are widely utilized for building robust structures
• A flagship company of the Patel Group with 70+ years of group legacy
• Experienced
management with deep understanding of the building materials industry
• The Company has robust distribution network of 3,000+dealers across India
• Sahyadri has catered to 1 million+ customers so far since inception
• The Company has expanded its reach within India and overseas
• Sahyadri caters to a broader clientele base spanning across India, Africa and Middle East
• Quality manage
system as per EN ISO 9001: 2015
• Environment management system EN ISO 14001:2015 & ISO 45001:2018 for safety It Is for all plants and HO
9
A Trusted Brand… built over the years
Established second plant at Kedgaon, Maharashtra and started with production of Asbestos Corrugated Sheet
The Company’s status changed from Private Limited to Public Limited’
The Company expanded its presence in South India by setting up a plant in Perundurai, Tamil Nadu for Asbestos Corrugated Sheet
Listed on Bombay Stock Exchange
Commenced with the production of Non-Asbestos Flat Sheet at Chichwad plant
Merger between Poonam Roofing and Sahyadri Industries completed Capacity Expansion at Perundurai plant completed Listing on National Stock Exchange
1996- 2000
1991- 1995
2006- 2010
2016- 2024
2001- 2005
2011- 2015
The Company was originally incorporated under ‘New Sahyadri Industries Private Limited’
Established Maharashtra production of Asbestos Corrugated Sheet
first plant at Chinchwad, commenced with
and
Reverse merger between ‘Swastik Roofing Limited and New Sahyadri Industries Limited’
The Company was ‘Sahyadri industries Limited’
renamed
to
Sahyadri had set up plants at Mahuvej, Gujarat and Vijaywada, for Asbestos Andhra Corrugated Sheet
Pradesh
10
Experienced Board of Directors and Management Team
Time
Jayesh Patel – B.Com, MBA Jayesh Patel – B.Com, MBA Chairman & Whole Chairman & Whole Time Director Director Leading face of SIL was on board since 1999. More than 30 years in the field of of experience Building Material Manufacturing
Satyen Patel – B.Com, PGPBA Managing Director Young and Dynamic face of SIL since 1998. Broadening horizon, innovation, thinking, felicitated with "Achiever of Maharashtra " Award. More than 20 years of experience in Building Materials industry
strategic
Tuljaram Maheshwari -B.Com, CA WTD, CEO & CFO Appointed on board in 2020. More than 39 years of experience with a large organization in the Sales, Operations, of field Strategic Corporate Planning, Finance, M&A, JV and Accounts & Audit
Suresh Joshi – B.Com, LLB, CA Whole Time Director Associated with board since 2006. More than 40 years of rich field of experience Legal Taxation, Matters, Corporate Finance, M&A, JV, Accounts & Audit
in the Corporate
Ankem Sri Prasad Mohan – B.com, CA Independent Director Appointed on board in 2021. More than 23 years of experience in the field of FP&A, Taxation, M&A, controller, Finance Corporate Audit, Finance, Compliance
35
Shrikant Malegaonkar -MBA, LLB Independent Director in 2017. Appointed on board of than More experience in Labour laws and Industrial Relations & Practicing Advocate at Pune Labour / Industrial court & Bombay High Court
years
Moushmi Shaha – B.Com, CA Independent Director Appointed in 2021. More than in 16 years of experience Finance, Accounts, Audits & Financial Trainings
than 40
Ved Saxena – BE (Mechanical) Independent Director Appointed on board in 2020. years of More and experience rich dedicated business management experience in BD, managing HR to its usage & General Operations
of
Rajib Gope – CS Compliance Officer Appointed in 2022. More than 14 in Secretarial years experience and Operations, Statutory Economic Compliance, Corporate Governance, In-house Legal Work and court representation
Corporate
laws,
11
Snapshot of Capabilities
Built Core Strength
Diversified Presence 5 Plants across 4 States
Experience 30+ Years
Strong Distribution
Dealers & Distributor 3,000+
Global Presence 5+ Countries
Employees 740+
Customers 1 million+
Established Brands
Product Innovation
No of Products 45+
R&D Team 10+
Product Application & Value- Added Products 20+
Note: The data provided is as of 30TH June 2024
12
Well Established Branded Product Portfolio with Increasing Share of Value-Added Products
Cool Comfortable Living
Termite Resistant
Fits any Edge, Corner
Light Weight
Asbestos Free
Strong & Durable
Water Resistant
Fire Resistant & Non- Combustible
13
CSR activities… A Responsible Corporate
Swastik Kukdookoo
• Useful for economically weaker section of
the society to increase their wealth
• To promote woman earnings who stays in
remote, tribal villages
• Easy to set up in empty backyard
Digital Classroom Program
• Associated with Rotary Club for formulation and implementation of Digital “Class Room” Program
• Program provide E learning kit which help students to learn more interestingly and understand the topics with animated graphics
Lakshya
• Sahyadri is a proud supporter of Lakshya, a Rastriya Khel Puraskar awardee sports NGO
• NGO supports and identifies young and budding talented sports persons and nurture them to enhance their performance
Cemply Swachalay
Initiative under Swachh Bharat Abhiyan
• • Affordable high quality toilet blocks • Easy to transport & erect • • Suitable for all weather condition
It requires “Lesser installation time” to set up
Swastik Disha • CSR association with Smt. Sindhutai Sapkal, Sapta Sindu Mahila Aadhar, Balsangopan Wa Shikshan Sanstha
• Provided Ventilators and medical Equipment's to hospitals to fight against Covid Pandemic • Association with Lila Poonawala Foundation for
supporting girl's education
Corporate Video – Click Here
14
Product Portfolio
Product Portfolio – EcoPro Cement Boards
01
02
03
04
05
With the extensive research and hard work, Sahyadri has introduced sustainable building material EcoPro which is revolutionizing building industry
EcoPro is highly durable and sustainable product that is wood-free, light weight and asbestos- free
Suitable for host of architectural and interior applications ranging from false ceiling and paneling to furniture and partitions
EcoPro has emerged as a reliable substitute for conventional materials
EcoPro offers benefits of multipurpose and multifunctional fibre cement boards
EcoPro- The 21st Century Designer Fibre Cement Boards
Pebble
Stone
Wave
Handcrafted Bricks
Bricks
Wooden
Aquatic
16
Product Portfolio – Cemply Flat Sheet
01
02
03
04
Cemply flat sheets are suitable for application areas like furniture, side panelling, false ceilings
Cemply flat sheets are available in multiple sizes and with various forms of thickness
Cemply 18 is a very popular for mezzanine flooring
Cemply flat sheet offers strength, durability and elasticity together
05
Cemply flat sheet are thermal resistance, water resistance, fire resistance & easily mountable
17
Product Portfolio – Swastik Roof Sheets
More than 100 roofing accessories are available in a variety of shades and specifications to meet the needs of customers at affordable rates
The roofs are durable, non-corrosive, fire resistant and are more reliable in cyclone prone areas
Roof touch ceiling to create a experience of High Ceiling in a house
The cement sheets do not get blown away due to its dead weight because of which the roof remains intact
Twin roof gets you a teak wood feel of the traditionally built houses
Pioneer in introducing Swastik Twinroof system in India. A double layer protection from leaking roofs
18
Product Portfolio – EcoPro S3
01
02
03
04
05
EcoPro S3 House An answer to the country’s future construction needs
Ecopro S3 is a speedy, innovative and a sustainable building solution to enable cost-effective quality construction
Being a dry construction, no plastering or curing is required, hence amounting to huge water and sand savings
Perfectly suited for difficult hilly terrains and sites
Ecopro S3 is been applied for Patent under application no. 201921022801 dt. 08/06/2019
19
Product Portfolio – Swastik Sil Gold (New Launched)
First in the industry to offer Coloured Designer Corrugated Roofing Sheets
Manufactured using finest quality cement and fibre through the latest fibre mesh technology
01
02
Stronger than regular cement corrugated roofing sheet
03
04
05
Rot or Corrosion Resistance
Special stain options provides longer life
Low Maintenance and No rusting
Resistant to chemical attack
07
06
Weatherproof with Sound, Thermal & Heat Insulation
20
Future Roadmap – Expand, Explore & Excel
Exploring New Market
Improve Operational Efficiencies
Capital Expenditure
Increase Market Penetration
Value Added Products
Accelerate Revenue Growth
1
2
3
4
5
6
To Become Pan India Player
21
Way Ahead…
Focus on margin-rich Value-Added Products
• Sahyadri aims to increase the share of Value-Added products (VAP) in its overall product mix to
achieve higher margins at a portfolio level
Growth through new clients & geographies
• The Company will explore the opportunity to add more clients across all the business segments
• Sahyadri plans to strengthen its market share in the existing geographies and establish its presence in
the newer territories across North and East India
Capacity Expansion
• Sahyadri will continue to expand its capacity going forward
• The Company continuously enhances its manufacturing capabilities to cater to the growing demands
• A strong financial discipline coupled with the ability to generate regular free cash flows, allows Sahyadri
Sound Financials
to adequately fund its growth organically
• Capex to drive next leg of growth for the Company
22
Financial Performance
23
Performance Highlights
Total Income* (Rs in Cr)
EBITDA (Rs in Cr)
PAT (Rs in Cr)
638.4
597.2
546.3
477.6
99.3
104.0
84.4
70.6
285.8
48.1
63.0
61.8
26.6
37.1
26.4
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
EBITDA (%)
20.8%
19.0%
16.8%
14.1%
11.1%
PAT (%)
13.2%
11.3%
9.3%
6.2%
4.1%
* inclusive of Other income
24
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
Balance Sheet Highlights
Net Worth (Rs in Cr)
Cash Flow From Operation (Rs in Cr)
Gross Block (Rs in Cr)
304.1
248.3
185.0
335.3
360.0
70.0
68.7
37.7
32.6
34.8
332.3
296.7
205.7
217.3
231.7
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Mar-20 Mar-21 Mar-22 Mar-23 Mar-24
Return on Capital Employed (%)
Debt/Equity (x)
Return on Equity (%)
25.4%
20.3%
28.9%
23.2%
14.4%
11.1%
7.3%
13.8%
13.2%
9.9%
0.37
0.32
0.32
0.26
0.19
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
25
Historical Profit & Loss Statement
Particulars (Rs. Cr) Total Income*
Cost of Goods Solds
Gross Profit
Gross Profit Margin
Employee Cost
Other Expenses
EBITDA
EBITDA Margin
Depreciation
EBIT
EBIT Margin
Finance Cost
Exceptional Item Gain / (Loss)
Profit before Tax
Profit before Tax Margin
Tax
Profit After Tax
Profit After Tax Margin
EPS
* inclusive of Other income
FY24
638.4
370.0
268.4
42.0%
40.7
157.1
70.6
11.1%
24.0
46.6
7.3%
11.3
0.0
35.3
5.5%
8.9
26.4
4.1%
24.09
FY23
597.2
318.6
278.6
46.6%
37.7
156.5
84.4
14.1%
23.8
60.6
10.2%
9.0
0.0
51.6
8.6%
14.5
37.1
6.2%
33.9
FY22
546.3
276.7
269.7
49.4%
33.4
132.2
104.0
19.0%
14.8
89.3
16.3%
4.6
0.0
84.6
15.5%
22.8
61.8
11.3%
56.48
FY21
477.6
240.0
237.6
49.8%
30.1
110.0
97.5
20.4%
14.0
83.5
17.5%
4.9
0.0
78.6
16.5%
16.9
61.7
12.9%
64.52
FY20
285.8
147.6
138.2
48.4%
22.6
67.5
48.1
16.8%
14.3
33.7
11.8%
5.4
0.0
28.3
9.9%
1.7
26.6
9.3%
27.79
26
Mar-24 Mar-23 Mar-22 Mar-21 Mar-20
Equity & Liabilities (Rs. Cr)
Mar-24 Mar-23 Mar-22 Mar-21 Mar-20
149.3
122.7
145.8
126.8
Total Equity
Share Capital
360.0
335.3
304.1
245.1
185.0
11.0
11.0
11.0
9.6
9.6
Reserves & Surplus
349.1
324.4
293.1
235.5
175.5
Historical Balance Sheet
Other Non Current Assets
21.6
26.7
13.6
15.6
10.0
(ii) Lease Liabilities
Assets (Rs. Cr)
Non - Current Assets
Property Plant & Equipments
CWIP
Intangible assets
Right of use asset
Investments
Others
Current Assets
Inventories
Financial Assets
Investments
Trade receivables
Cash and cash equivalents
Bank balances other than cash and cash equivalents
loans & Advances
Others
Other Current Assets
Total Assets
249.6
175.7
42.4
0.6
4.8
0.2
4.3
235.8
163.8
36.0
0.8
4.9
0.2
3.5
199.4
123.0
54.1
0.1
5.0
0.2
3.5
4.0
0.1
3.8
0.1
2.9
1.7
0.4
3.9
0.1
2.9
Non-Current Liabilities
Financial Liabilities
(i) Borrowings
310.2
238.2
320.8
227.2
269.1
174.3
229.8
113.3
162.0
76.5
Provisions
Deferred Tax Liabilities
12.0
31.7
4.5
1.4
0.2
0.2
11.2
35.1
2.3
3.8
0.0
0.1
21.1
42.6
1.0
3.3
0.1
0.3
47.9
40.2
1.0
2.9
0.0
0.2
30.6
38.5
0.3
2.8
0.0
0.2
Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Trade Payables
(iii) Lease
(iii) Others
Other Current Liabilities
22.2
41.2
26.5
24.2
13.2
Provisions
40.2
51.4
32.4
10.1
52.1
32.8
43.3
23.8
0.3
2.7
4.4
0.3
2.0
5.8
0.3
2.1
6.2
0.9
0.3
2.3
6.6
159.6
169.9
132.0
123.9
82.9
39.2
80.8
50.6
56.1
44.5
6.8
50.9
38.8
0.3
1.9
11.0
70.8
20.0
33.8
0.0
0.0
0.0
0.0
0.0
18.1
16.0
3.4
19.7
16.1
2.7
19.6
55.4
12.1
9.3
2.6
8.7
2.0
3.2
1.8
559.8
556.6
468.6
379.1
307.8
Total Equity & Liabilities
559.8
556.6
468.6
379.1
307.8
27
Historical Cash Flow Statement
Particulars (Rs. Cr)
Net Profit Before Tax
Adjustments for: Non -Cash Items / Other Investment or Financial Items
Operating profit before working capital changes
Changes in working capital
Cash generated from Operations
Direct taxes paid (net of refund)
Net Cash from Operating Activities
Net Cash from Investing Activities
Net Cash from Financing Activities
Net Decrease in Cash and Cash equivalents
Add: Cash & Cash equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
FY24
35.3
35.2
70.5
-1.8
68.7
-10.9
57.8
-34.0
-21.6
2.2
2.3
4.5
FY23
51.6
32.4
84.0
-49.3
34.8
-18.0
16.7
-44.5
29.1
1.3
1.0
2.3
FY22
84.6
19.2
103.8
-71.2
32.6
-22.1
10.5
-32.9
22.4
0.0
1.0
1.0
FY21
80.4
16.3
96.7
-26.7
70.0
-20.3
49.7
-30.1
-18.8
0.7
0.3
1.0
FY20
28.3
18.9
47.1
-9.4
37.7
-7.4
30.3
-33.6
2.1
-1.1
1.4
0.3
28
Dividend History
Particulars (in Rs.)
FY24
FY23
FY22
FY21
FY20
Earnings Per Share
24.1
33.9
56.5
57.6
27.8
Interim Dividend Per Share
Final Dividend Per Share
Total Dividend Per Share
-
1
1
2.5
1.5
4
3
3
6
1.5
3.5
5
2.5
-
2.5
EPS (in Rs.)
57.6
56.5
27.8
33.9
24.1
2.5
DPS (in Rs.)
6.0
5.0
4.0
1.0
FY20
FY21
FY22
FY23
FY24
FY20
FY21
FY22
FY23
FY24
29
Contact us
Company :
Investor Relations Advisors :
CIN No: L26956PN1994PLC078941
CIN - U74140MH2010PTC204285
Mr. Rajib Gope Email: cs@silworld.in
Mr. Aakash Mehta/ Mr. Mandar Chavan aakash.s.m@sgapl.net / mandar.chavan@sgapl.net
+91 98706 79263/ +91 96993 82195
www.silworld.in
www.sgapl.net
30