Som Distilleries & Breweries Limited has informed the Exchange about Investor Presentation
SOM Distilleries & Breweries Limited (BSE: 507514, NSE: SDBL)
Earnings Presentation Q4 FY2021
Safe Harbor
This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to SOM Distilleries & Breweries’ future business developments and economic performance.
While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.
These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.
SOM Distilleries & Breweries undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances.
Conference Call Details: Tuesday, June 8, 2021 at 4:00 PM IST
Dial-in Number
India: +91 44 4563 4951 / +91 44 3547 0551
USA: 1 877 387 0849 / 1 800 974 0768 UK: 080 001 634 3900 / 800 0044 0033 Singapore: 001 800 0044 0033 / 800 903 171 Hong Kong: 001 800 0044 0033 / 800 101 1941
Pin
NA
7920571#
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Highlights
Financial Highlights
Operational Highlights
Company Profile
Performance Highlights
Key Highlights
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Recorded beer volume of 20.9 Lakh cases (+31% vs Q4 FY2020) and IMFL volumes of 2.1 Lakh cases (+1% vs Q4 FY2020)
The volume improvement was broad-based across all our key markets
• Hunter recorded a growth of 47% and Black Fort almost doubled compared to same period last year
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Recently launched Woodpecker brand continued to grow despite the prevailing challenges, it sold over 46,000 cases in Q4 and 1.1 Lakh cases during the full year
Total income during the quarter stood at Rs. 1,090 million, an increase of 12.5% compared to Q4 FY2020
EBITDA for the quarter was Rs. 91 million compared to a loss of Rs. 2 million in Q4 FY2020; EBITDA margin for the quarter was 8.4%
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Raw material prices remained during period
• Margins were offset to certain extent due to infusion of new glass bottles in Bhopal and Odisha facilities
PAT of Rs. 37 million with margin of 3.4%, compared to a loss of Rs. 50 million in same period last year
The operations during the month of April and May were impacted due to second wave of the pandemic
• With the lifting of lockdowns in states, and re-opening of economy, recovery is anticipated in the month of June
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Management Commentary
In context of the prevailing pandemic, our performance was encouraging. Our key brands continue to regain market share in their respective markets as the economy opens and the pandemic related restrictions are relaxed.
The expansion of our Bhopal facility was completed in January 2021 and was commissioned in anticipation of our peak season. We are confident about the demand of our products and barring any external challenges, the utilization levels are expected to gradually improve towards the later part of the year.
Although our aggressive growth trajectory was halted due to global challenges, we believe that our growth story for medium to long term remains intact.
Mr. JK Arora, Chairman (SOM Group of Companies)
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Highlights
Financial Highlights
Operational Highlights
Company Profile
Performance Highlights
Q4
Y-o-Y
12 Months
Y-o-Y
(Rs. Million)
FY2021
FY2020
Growth (%)
FY2021
FY2020
Growth (%)
Total Income
1,090
969
12.5%
EBITDA
Margin (%)
Interest
Depreciation
Net Profit
91
8.4%
48
40
37
Margin (%)
3.4%
(2)
nm
38
38
(50)
nm
nm
25.9%
6.0%
nm
2,901
(70)
nm
187
134
(381)
nm
4,635
479
10.3%
154
117
150
3.2%
(37.4)%
nm
21.4%
14.5%
nm
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Leverage Profile
(Rs. Million)
Mar 31 2021
Sep 30 2020
Mar 31 2020
Secured Borrowings
1,495
1,549
1,463
• Completed doubling of capacity at Bhopal facility;
capitalised the investment in FY2021
Unsecured Borrowings
594
635
739
• No major capex planned in the near term
Gross Debt-Consolidated
2,089
2,184
2,202
• Despite a challenging year in terms of cash
management, the Company reduced total debt by Rs. 114 million
Less: Cash & Cash Equivalents
145
129
219
• Strong cash flow from operations of Rs. 342 million
Net Debt
1,944
2,054
1,983
• Free cash flow generation to be utilised to repay
debt going forward
Gross Debt / Equity (x)
0.74x
0.76x
0.69x
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Industry Dynamics
Financial Highlights
Operational Highlights
Company Profile
Volume Summary
Q4
Y-o-Y
12 Months
Y-o-Y
Lakh cases
FY2021 FY2020
Growth (%)
FY2021 FY2020
Growth (%)
Hunter
Black Fort
9.2
4.2
Power Cool
6.2
Others
1.2
6.3
2.1
5.9
1.7
47%
22.4
35.9
(38)%
106%
10.6
14.4
(26)%
5%
15.9
31.6
(50)%
(31)%
0.8
1.7
(53)%
Total Beer
20.9
15.9
31%
49.7
83.5
(40)%
Total IMFL
2.1
2.0
1%
7.7
11.9
(36)%
• Continued robust recovery in mainline brands
• Woodpecker beer continued to enhance its
market share and sold over 1 lakhs cases in its first year of launch
• During the quarter, Bhopal facility operated at
30% utilization level, considering the expanded capacity
• Karnataka and Odisha facility operated at 45% and 55% utilization levels during Q4 FY2021
• Beer accounted for 91% of total volumes and
86% of the revenue in Q4 FY201
• Price realization for Beer during the quarter was Rs. 445 and IMFL was Rs. 708; blended realization at Rs. 468
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Millionaire Beer Brands – Volume Recovery
) s e s a c h k a l n i ( d l o S y t i t n a u Q
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Industry Dynamics
Financial Highlights
Operational Highlights
Company Profile
SOM Distilleries: The only listed Beer and IMFL company in India
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SOM Distilleries & Breweries Limited (SDBL) is based in Bhopal and is one of the leading alcoholic beverages manufacturers in India
SDBL is primarily engaged in production of beer and blending and bottling of IMFL
• Offers a broad line of products at every price point to cater to varied preferences of the consumers. The product portfolio consists of various options across beer, rum, brandy, vodka and whisky
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The Company has three key millionaire brands (sales more than 1 mn cases per annum) – Hunter, Black Fort and Power Cool
Strategic partnerships with White Owl Distilleries and Jagatjit Industries
Launched Woodpecker Wheat Beer, India’s first filtered wheat beer in FY2020
• New products introduced with seasonal
themes to increase consumer traction and engagement – Hunter Pint Beer and different flavors of RTD drinks
s d n a r B r e e B
s d n a r B L F M
I
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SOM Distilleries & Breweries Limited (BSE: 507514, NSE: SDBL)
Som Distilleries & Breweries Limited (CIN: L74899DL1993PLC052787)
Registered Office: Zee Plaza, 1 - A Kamal Cinema Road Arjun Nagar Safdarjung Enclave New Delhi 110029
Corporate Office: SOM HOUSE 23, Zone II Maharana Pratap Nagar, Bhopal 462011 Ph.: +91 755 427 8827
Nakul Sethi SOM Distilleries and Breweries
nksethi@somindia.in +91 755 4271271
Bijay Sharma Churchgate Partners
som@churchgatepartners.com +91 22 6169 5988