IFB Industries Limited

74 crore

th of j4o/o over the coffesponding Quarter of the previous year. EBITDA amount for the Quarter was {74 crore as against T85 crore during the corresponding period of the previous year" YTD Revenue also improve

85 crore

coffesponding Quarter of the previous year. EBITDA amount for the Quarter was {74 crore as against T85 crore during the corresponding period of the previous year" YTD Revenue also improved but was below expe{

17 crore

f hike in commodity prices, which has not been passed through. ' lncrease in promotion expenses by ?17 crore, primarily the AC category and eCominerce spends. We also need to further evaluate what has worked

254.85 crore

what has worked and what has not worked to the desired extent. Balance Sheet Total borrowing was ?254.85 crore as on Quarter end date, including term loan amount of {189.09 crore. Break-up of borrowing is as fo

189.09 crore

ance Sheet Total borrowing was ?254.85 crore as on Quarter end date, including term loan amount of {189.09 crore. Break-up of borrowing is as follows: Borrowing ECB Rupee Tem Loan Rupee Term Loan Worklng Capita

28.32 crore

oan taken from SCB for our AC plant came down to its curent position after making a pre-payment of t28.32 crore in January 2021. The first principal payment was due in October 2071 and has been paid. Term loan t

47.10 crore

from DBS for our Engineering business was partly pre-paid in Decernber 2O7O to reach a balance of t47.10 crore. Thereafter, three principal payments were made in March, June and September ZbZl to reach the cure

57.67 crore

hree principal payments were made in March, June and September ZbZl to reach the curent halance of {57.67 crore. The first instalment of our Stamping Division Loan taken from lCtCl Bank is due in May 2027' 2 l

325.82 crore

as on 50 September, 2071, orlr Cash and Bank Balances (including investments in Mutual Funds) were t325.82 crore. Hence, the Company remained debt free on a net basis as on the last day of the 2nd euarter of Fy Z

08.47 crore

Break-up of cash & bank balances (including investments in Mutual Fund) Cash and Bank Balances t]08.47 crore lnvestments in Munral Fund t215.55 crore Total t323"82 crore We have inefficiencies of {100 crore

215.55 crore

uding investments in Mutual Fund) Cash and Bank Balances t]08.47 crore lnvestments in Munral Fund t215.55 crore Total t323"82 crore We have inefficiencies of {100 crore in working capital as on 3O September, 20

82 crore

ual Fund) Cash and Bank Balances t]08.47 crore lnvestments in Munral Fund t215.55 crore Total t323"82 crore We have inefficiencies of {100 crore in working capital as on 3O September, 2021 due to lower sale

“in crore) Standard Chartered DBS Bank lClCl Bank 5CB/DB5 AC Project Five Years Engineering Division Five Years Stamping Division Seven Years ECB Loan taken from SCB for our AC plant came down to its curent position after making a pre-payment of t28.32 crore in January 2021.”

“We expect the overall economy to keep improving, given the low penetration of appliances.”

“The consurner durables industry is expecting to grow by double digits in the festive season this year l06l Financial Report-Quarter and Half Year Ended ioth september,za}l The pressure on inputs is high and will lead to price hikes post the festive season and in the 4th euarter The impact on derrrand will be seen in the 4th Quarter.”

“This will be extended to 7 metro cities over the next two euarters and will cover I OO+ existing stores.”

“This will be achieved by extracting from the distribution network and increasing revenue shares from large key accounts.”

“The primary enablers will be the new I kg front load models and additional manning of sales counters.”

“The volume'potential from existing mad<et reach as well as the current direct and indirect channels, is high and will be realised from the 3rd Quar[er of this fiscat year.”

“The Company's efforts in the 5rd and 4th Quarters will be aimed at increasing its presence in defence and other sector business.”

“We expect a tumaround in demand in the 4th Quarter, including tender based sales, for which we have a healthy order pipeline.”

“The key delivery target for the next two Quarters is completing new model introductions, including those with new technology for improved cooking" Availability issues have now been fixed and we will continue to use the new ranges to drive placements and volumes.”

Break-up of borrowing is as follows

1

The break up of the same is given

1

Engineering Division

1

ATEilH

1

Break-up of borrowing is as follows

Borrowing ECB Rupee Tem Loan Rupee Term Loan Worklng Capital Total I I5.28 37.67 3s.o0 48.88 234.83 (? in crore) Standard Chartered DBS Bank lClCl Bank 5CB/DB5 AC Project Five Years Engineering Division Five Years Stamping Division Seven Years ECB Loan taken from SCB for our AC plant came down to its curent position after making a pre-payment of t28.32 crore in January 2021. The first principal payment was due in October 2071 and has been paid. Term loan taken from DBS for our Engineering business was partly pre-paid in Decernber 2O7O to reach a balance of t47.10 crore. Thereafter, three principal payments were made in March, June and September ZbZl to reach the curent halance of {57.67 crore. The first instalment of our Stamping Division Loan taken from lCtCl Bank is due in May 2027' 2 lo5l Against the aforesaid bonowing, as on 50 September, 2071, orlr Cash and Bank Balances (including investments in Mutual Funds) were t325.82 crore. Hence, the Company remained debt free on a net basi

The break up of the same is given

Break-up of cash & bank balances (including investments in Mutual Fund) Cash and Bank Balances t]08.47 crore lnvestments in Munral Fund t215.55 crore Total t323"82 crore We have inefficiencies of {100 crore in working capital as on 3O September, 2021 due to lower sales in the AC category and stock build-up for the season. This will improve by end of the ird Quarter. The market now has a positive sentiment; sales showed improvement in the Znd Quarter and are expected to maintain the momentum in the 5rd Quarter as well. Market Conditions Home Appliances Division . Market demand remains healtfty. The 2nd Quarter has seen consistent demand and the 5rd Quarter is expected to remain the same. . We expect the overall economy to keep improving, given the low penetration of appliances. The consurner durables industry is expecting to grow by double digits in the festive season this year l06l Financial Report-Quarter and Half Year Ended ioth september,za}l The pressure on inputs is high and will

Engineering Division

ln the Znd Quarter, the automotive market saw muted sales: ' The shortage of semi-conductors severely affected the 4-wheeler segment from July onwards. . The high-end 2-wtreeler segment was also affected by the shortage of chips. ' An increase in steel prices in this Quarter continued its upswing, leading to an increase in vehicle prices. . The rising cost of fuel was also a factor that affected end-customers'decisions to buy. . Our order pipeline is robust. There are issues with the availability of special grades of steel, for which we have been losing sales in the last few Quarters. To overcome this, we need to seruice the order book in spite of such difhculties. Needless to say, fur[her instances of COVID-I9 may cause a disruption or drop in sales. We were higher in percentage terms in all segments compared to market growth. Mar*et Gronnth: 1 2-wheelers: 59gb over the corresponding Quarter of the previous year: (-) 6.19% (Market Growth) 7 4-wheelers: 996 over the coresponding Quarte

ATEilH

The revenues from both industrial categories have been low as all major institutions such as colleges, hotels and restaurants have been closed over the last few Quarters. We expect a tumaround in demand in the 4th Quarter, including tender based sales, for which we have a healthy order pipeline. . Microwave Ovens IFB continues to be a dominant player in this category. The first half of 2021 registered a significanr growth of I03Vo compared to the same period last year" The performance would have been even better but was not because of the lockdown in the l st Quarrer. The key delivery target for the next two Quarters is completing new model introductions, including those with new technology for improved cooking" Availability issues have now been fixed and we will continue to use the new ranges to drive placements and volumes. " lr'lodular Kitchens ln the l st Quarter, new designs and finishes that offer customers 40O+ combinations were introduced, together with budget kitchens anC kitc