Borosil Limited — Investor Presentation 2021

Aug 16, 2021

August 16, 2021

The DCS - CRD
BSE Limited	National Stock Exchange of India Ltd
Corporate Relationship Department	Exchange Plaza, C-1, Block G,
st Floor, New Trading Ring,1	Bandra Kurla Complex,
Rotunda Building, P. J. Towers,	Bandra (East),
Dalal Street,	Mumbai – 400 051
Mumbai – 400 001

Dear Sir / Madam,

Scrip Code: 543212 Symbol: BOROLTD Series: EQ ISIN: INE02PY01013

Sub: Presentation on Company's performance for the quarter ended June 30, 2021

Enclosed please find the Presentation on Company's performance for the quarter ended June 30, 2021.

You are requested to take the same on record.

Thanking you.

Yours faithfully, For Borosil Limited

Manoj Dere Company Secretary & Compliance Officer Membership No. FCS 7652

Encl: as above

Borosil Investor presentation - Q1FY22 01

Borosil Limited - Investor Presentation Q1FY22

"This investor presentation has been prepared by Borosil Limited ("Borosil" or "Company") on a strictly

Safe harbour statement

Market Leader-Microwavable Kitchenware in India (Consumer Products)

Market Leader-Laboratory Glassware

Brand with a 50+year legacy years of

About Borosil

To be the most customer-centric company in India

Re-Imagining Consumer

Borosil Investor presentation - Q1FY22 05

Glass Products Company

Occasional Use (Microwavable)

Single Brand

General Trade

Lab Glassware only

Domestic Business

Single Brand BOROSIL

Financial Overview Q1FY22(consolidated)

	Q1FY21	Q1FY22	Growth %
Net Sales	56.10	137.88	145.8%
EBITDA	(1.53)	19.42	1367.7%
EBITDA(Before one-time items)	2.08	25.45	1125.4%
PBT	(10.53)	10.70	201.7%
PAT	(7.36)	(1.90)	74.2%
Net Cash (Period end)	94.74	245.57

Category wise sales (Consumerware)

Category	Q1 FY21	Q1FY22	Growth %
Glassware	8.36	22.39	167.9%
Non Glassware	7.24	28.95	299.8%
Opalware	4.08	32.40	693.2%
Total Consumerware	19.68	83.73	325.4%

Category wise sales (Scientific)

INR Crore

Category	Q1FY21	Q1FY22	Growth %
Laboratory Glassware	20.24	28.18	39.2%
Lab Instrumentation	2.45	4.24	72.9%
Pharma Packaging	13.73	21.74	58.4%
Total Scientific	36.41	54.15	48.7%

(consolidated business)

	Q1FY21	Q1FY22
Advertising & SalesPromotion (ASP)	1.8%	4.5%
Personnel Costs	34.9%	16.3%
EBITDA Margin(before one-time items)	0.8%	15.2%
EBITDA Margin beforeASP & one time items	2.6%	19.8%

% of Net Revenue

Capital Employed (Standalone)

			Consumerware		Scientific	Borosil
		FY20	FY21	FY20	FY21	FY20	FY21
	Working CapitalEmployed	115	58	56	44	170	102
	Working Capital(Days of Sales)	97	55	130	113	105	71
	Operating CapitalEmployed	311	223	142	103	453	327
	Goodwill *					59	59
	Strategic Investments **					67	67
	Net Surplus Funds					75	247
	Total Capital Employed	311	223	142	103	654	700
	Goodwill created due to the Composite Scheme of Amalgamation and Arrangement.* Strategic Investments are investment in subsidiaries namely Klasspack, Borosil Technologies and Acalypha.The Company expects returns on these strategic investments in the coming years.

Consumer Division

needs of a modern kitchen

• Contemporary • • Everyday Use • • • • •

Consumer Products

• Glass Microwaveables
• Tumblers
• Storage
• Opalware
• Domestic Appliances

100	10%
440	10%
	15% to 20%
500	20%
	15%
9000	10%

Note : Market size, growth & share are internal estimates

Borosil - Ally of Progressive Homemaker

hi tea, Travel, Workout

Trade Partners

Some Key Institutional Customers

Growth Pillars

Larah Opal Dinner Ware Category gaining salience

Larah FY21 revenue INR 141.05 cr

No 2 player in a high growth category

Large opportunity in Opal dinner ware

• Microwaveable, Light, Strong, Chip resist
• Ideal for mass market daily use
• Introducing customisable options

Margin Improvement initiatives for the medium term

• New Fulfilment Centre to optimize truck utilization (implemented)
• Packaging rationalization
• Product mix and measured price increases
• Operating leverage with scale on advertising & fixed overheads

Storage Range Thoughtful Products creating a new pillar of growth

• Very low penetration of glass storage

Awareness of Glass as a superior option on the rise

High grade steel designs for on-the-go products like flasks & hot food cases an opportunity

Indian kitchen storage dominated by plastic and steel

• No health hazard as in some types of plastic

• Transparent as against opaque steel & plastic getting stained and translucent over time

• Looks as good as new for extended period of time

• Good design ensures stack-ability & space optimization

Consumer Products -Medium-Term Thrust Areas

Achie- Increase- Introdu
$-$ Gain sh- Accelera
BecorMaintai- IntroduBenchm
Impro- Improve- Rationa- Control
Optim- Better eIncreas

Ive Revenue CAGR of 20%

e penetration of glass storage and Opalware Ice high quality & innovative To-Go storage products are in premium niche domestic appliances ate Growth in E-Commerce

me Brand of Consumer Choice

• in investments in brand building
• ace new and improved range of products
• nark Online consumer experience with Best in Class

ove EBITDA Margins

• re logistics costs alize packaging costs
• Fixed Overheads

nize Capital Employed

estimation of channel inventories Increase share of domestic sourcing

Scientific Products

Scientific Products Range

Pharma packaging

• Glass vials
• Glass ampoules

	Lab Glassware India	Lab GlasswareExports	LabInstrumentation	Pharma Packaging(Vials & Ampoules)
Market Size (INR Cr)	235	4000	150	235
Est. Market Growth	~8-10%	~0-2%	~8-10%	~10-12%
Customers	Pharma R&D & QC,Government Labs,Food & Soil Testing,EducationalInstitutes	Pharma R&D & QC	Pharma R&D & QC,Government Labs,Food & Soil Testing,EducationalInstitutes	Pharma cos
Brand	Borosil	Borosil	LabQuest byBorosil	Klasspack

Scientific Products -Some key Customers

RANBAXY

TIMylan® Seeingis believing

Scientific Products Portfolio Growth Pillars

International expansion for lab glassware

Focus on Middle East, Africa, South East Asia, USA

Seed market and build new client relationships. Leverage India cost arbitrage

Scientific Products: Medium-Term Thrust Areas

Achieve Revenue CAGR of 10%

• Maintain dominant share in pharma lab glassware
• New customers in Food Testing
• Drive import substitution in Lab instrumentation increase product range
• Add new customers for vials & ampoules

Maintain EBITDA Margins

• Manage changing portfolio composition

Cash Flow Efficiency

• Manage inventories with scale

Laboratory Glassware

Borosil Investor presentation - Q1FY22 29

Meeting wide product range need of customer -

• • Single supplier convenient for laboratory for multiple critical yet low ticket SKUs -

• Not easily replicable by competition

Quick & on-time delivery of SKU range

• Investment in inventory, 6 warehouses & dealer network

• Well managed Inventory more than offsets loss of sale

Products meet international quality benchmarks

Strong customer relationships

• Low propensity of customer to switch

Primary Packaging for Pharma

• Glass Ampoules & Tubular Glass Vials for packaging pharmaceutical products
• Complements Borosil's analytical vials range (used in the lab)
• Provides Borosil's Pharmaceutical Customers credible 2nd alternative for their packaging needs
• more entrants
• COVID 19 opening many market opportunities

Borosil Limited Key Enablers & Capabilities

• Single supplier convenient for laboratory for multiple critical yet low ticket SKUs

Strong steady Scientific business to support growth

Established network of happy channel partners

Strong Balance Sheet with cash surplus

• Acquisitions to supplement organic growth

Board of Directors

Pradeep Kumar Kheruka Chairman

Anupa Rajeev Sahney Independent Director

Shreevar Kheruka Vice Chairman and Managing Director & CEO

Whole Time Director

Kewal Kundanlal Handa Independent Director

Kanwar Bir Singh Anand Independent Director

Rajesh Kumar Chaudhary

Naveen Kumar Kshatriya Independent Director

Equity information

No of issued shares of Re 1 each: 11,41,19,467

Shareholding Pattern:

0.2% Other institutions

• 70.5% Promoters

Bloomberg Ticke

NSE Ticker:

BSE Ticker:

Market Capitaliz as on - 30 Jun 2

er :	1369812D:IN
	BOROLTD
	543212
zation021 :	INR 2498 Cr

• 1101, Crescenzo,G-Block,

• Opposite MCA Club, Bandra Kurla Complex

• Bandra (East), Mumbai 400 051.

• www.borosil.com

• www.myborosil.com

Investor Relations:

• (anand.sultania@borosil.com)

Thank you

borosil.com myborosil.com