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Emami Ltd Investor Presentation 2021
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Investor Presentation
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25111May, 2021
The Secretary The National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G. Block Bandra Kurla Complex, Bandra (E) Mumbai: 400051
The Secretary BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai: 400001
Dear Sirs,
Pursuant to Provision of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith copy of Investor Presentation on Company Overview.
The aforesaid information will also be disclosed on the website of the company www.emamiltd.in.
Thanking You,
Yours Sincerely,
For Emami Limited,
L
A.K.JoShi
Company Secretary & VP-Legal
Encl: a/a
Q4 & FY21 Performance Update 25th May 2021
| Growthin Q4FY21 over | FY21 | Q4FY21 BUSINESS WISESALES SPLIT | |||
|---|---|---|---|---|---|
| Key Financials | Q4FY20 | Q4FY19 | |||
| •DomesticBusiness | 44% | 15% | 10% | Institutional | |
| •International Business | 28% | 21% | 12% | 3%International17% | |
| •InstitutionalBusiness | -3% | -7% | -19% | ||
| Consolidated Net Sales | 39% | 15% | 9% | Domestic80% | |
| •Other Operating Income | -81% | -65% | -41% | ||
| Total Revenues | 37% | 14% | 8% |
- ▹ 39% volume growth in Domestic Business in Q4FY21
- ▹ Overall volume growth of 33% in Q4FY21
Q4 & FY21 Profitability (Consolidated) 3
| Q4FY21 | Rs. in crore | Growth | Margins | MarginGrowth |
|---|---|---|---|---|
| Revenues | 731 | 37% | - | - |
| Gross Profit | 458 | 32% | 62.7% | -250 bps |
| EBIDTA | 163 | 65% | 22.3% | +380bps |
| PAT | 88 | 276% | 12.0% | +760bps |
| CashProfit | 171 | 57% | 23.4% | +300 bps |
| FY21 | Rs. in crore | Growth | Margins | MarginGrowth |
|---|---|---|---|---|
| Revenues | 2,881 | 8% | - | - |
| Gross Profit | 1,951 | 10% | 67.7% | +70bps |
| EBIDTA | 883 | 28% | 30.7% | +470bps |
| PAT | 455 | 50% | 15.8% | +440bps |
| CashProfit | 822 | 29% | 28.5% | +440bps |
| Key Brands | Q4FY21growth over | Growth in FY21 | ||
|---|---|---|---|---|
| Q4FY20 | Q4FY19 | |||
| Healthcare Range | 67% | 48% | 45% | |
| PainManagementRange | 38% | 33% | 23% | |
| NavratnaRange | 28% | 13% | -8% | |
| Kesh King Range | 45% | 7% | 15% | |
| BoroPlusRange | 5x | 5% | 15% | |
| Male Grooming Range | 26% | -27% | -26% | |
| 7 Oils in One | 39% | 45% | 10% |
New Launches in Q4FY21
Zandu Chyawanprash with Jaggery (Gur)
Chyavanprash with Jaggery and No Added Sugar launched for the first time in India.
E-commerce specific launches
Kesh King Ayurvedic Onion Oil and Shampoo
Ayurvedic Onion range with unique and potent blend of 21 ayurvedic herbs and onion extracts
Navratna Gold Ayurvedic Cool Oil
Light, non-sticky oil with a blend of premium herbs, exotic flowers and goodness of almond
New Launches Performance 6
40+
New launches in FY21
4%
Contribution to Domestic Business in FY21
International Business Performance
Sales grew by 28% in Q4 and by 12% in FY21
Q4FY21 Sales performance-
- MENAP grew by 53%
- SAARC grew by 14%
- Africa grew by 32%
- Creme 21 became the largest brand for International Business, growing strongly in FY21
- 7 Oils in One continued to deliver good growth on back of ongoing media campaign in Bangladesh & launch of new variants in key markets
- Strategy of tapping opportunities in non-focus markets with high hair oil usage, with focus brands like Kesh King & 7 Oils in One has been paying off well
- SEA South East Asia (Major countries Malaysia, Myanmar & Singapore)
- MENAP Middle East, North Africa & Pakistan (Major countries UAE, Qatar, Oman, Kuwait, Bahrain etc.)
- CIS Commonwealth of Independent States (Major Countries – Russia, Ukraine etc.)
- Others Africa, America and other
New Ad Campaigns
New TVC for Navratna Maxx Cool Talc with Varun Dhawan highlighting all day-cooling effect.
New TVC for BoroPlus 3 in 1 smart soap with Ayushmann Khurrana highlighting the multi benefits of BoroPlus soap
New Ad Campaigns
Financial Analysis
Earnings analysis for Q4 & FY21
Q4FY21 Financial Analysis
Cost of Goods Sold (as a % of Sales)
+250 bps over PY
Staff Costs (as a % of Sales)
-310 bps over PY
A&P Spends (₹ in Millions) - 10 bps over PY
Admin & Other Exp (as a % of Sales)
Q4FY20 Q4FY21
145
FY21 Financial Analysis
Cost of Goods Sold
Admin & Other Exp (as a % of Sales)
- 160 bps
Other Income (₹ in Millions)
Q4FY21 Summarized Financials
₹ in Millions
| Particulars | Q4FY21 | % | Q4FY20 | % | Growth |
|---|---|---|---|---|---|
| Net Sales | 7,289.1 | 99.7% | 5,228.3 | 98.2% | 39.4% |
| Other Operating Income | 18.5 | 0.3% | 98.5 | 1.8% | -81.2% |
| Revenue from Operations | 7,307.6 | 100.0% | 5,326.8 | 100.0% | 37.2% |
| Materials Cost | 2,728.1 | 37.3% | 1,856.0 | 34.8% | 47.0% |
| A&P | 1,349.8 | 18.5% | 989.1 | 18.6% | 36.5% |
| Staff Cost | 759.5 | 10.4% | 720.6 | 13.5% | 5.4% |
| Admn & Other Exp | 842.2 | 11.5% | 775.8 | 14.6% | 8.6% |
| EBIDTA | 1,628.0 | 22.3% | 985.3 | 18.5% | 65.2% |
| Other Income | 465.0 | 6.4% | 144.9 | 2.7% | 220.9% |
| Interest | 47.2 | 0.6% | 24.1 | 0.5% | 95.9% |
| Amortisation of acquired TM's/ brands | 589.3 | 8.1% | 633.0 | 11.9% | -6.9% |
| Depreciation/Amortisation of other assets | 240.3 | 3.3% | 219.4 | 4.1% | 9.5% |
| PBT before Exceptional Items | 1,216.2 | 16.6% | 253.7 | 4.8% | 379.4% |
| Exceptional Items | - | 0.0% | 74.2 | 1.4% | -100.0% |
| PBT | 1,216.2 | 16.6% | 179.5 | 3.4% | 577.5% |
| Tax | 325.5 | 4.5% | (73.7) | -1.4% | -541.7% |
| PAT | 890.7 | 12.2% | 253.2 | 4.8% | 251.8% |
| Share of Minority Interest & P/L of Associate | (13.4) | -0.2% | (19.6) | -0.4% | -31.6% |
| PAT After Minority Interest & Associate | 877.3 | 12.0% | 233.6 | 4.4% | 275.5% |
| Cash Profit (PAT + Dep. & Amortization) | 1,706.9 | 23.4% | 1,086.0 | 20.4% | 57.2% |
| EPSRs- | 1.97 | 0.51 | |||
| CashEPSRs- | 3.84 | 2.39 |
FY21 Summarized Financials
14
₹ in Millions
| Particulars | FY21 | % | FY20 | % | Growth |
|---|---|---|---|---|---|
| Net Sales | 28,542.6 | 99.1% | 26,106.4 | 98.3% | 9.3% |
| Other Operating Income | 262.7 | 0.9% | 442.4 | 1.7% | -40.6% |
| Revenue from Operations | 28,805.3 | 100.0% | 26,548.8 | 100.0% | 8.5% |
| Materials Cost | 9,292.3 | 32.3% | 8,761.0 | 33.0% | 6.1% |
| A&P | 4,581.3 | 15.9% | 4,711.4 | 17.7% | -2.8% |
| Staff Cost | 3,091.7 | 10.7% | 2,995.1 | 11.3% | 3.2% |
| Admn & Other Exp | 3,009.4 | 10.4% | 3,175.9 | 12.0% | -5.2% |
| EBIDTA | 8,830.6 | 30.7% | 6,905.4 | 26.0% | 27.9% |
| Other Income | 702.7 | 2.4% | 570.7 | 2.1% | 23.1% |
| Interest | 132.7 | 0.5% | 210.1 | 0.8% | -36.8% |
| Amortisation of acquired TM's/ brands | 2,678.5 | 9.3% | 2,589.0 | 9.8% | 3.5% |
| Depreciation/Amortisation of other assets | 991.0 | 3.4% | 774.3 | 2.9% | 28.0% |
| PBT before Exceptional Items | 5,731.1 | 19.9% | 3,902.7 | 14.7% | 46.8% |
| Exceptional Items | - | 0.0% | 106.8 | 0.4% | -100.0% |
| PBT | 5,731.1 | 19.9% | 3,795.9 | 14.3% | 51.0% |
| Tax | 1,142.1 | 4.0% | 712.7 | 2.7% | 60.2% |
| PAT | 4,589.0 | 15.9% | 3,083.2 | 11.6% | 48.8% |
| Share of Minority Interest & P/L of Associate | (41.9) | -0.1% | (54.1) | -0.2% | -22.6% |
| PAT After Minority Interest & Associate | 4,547.1 | 15.8% | 3,029.1 | 11.4% | 50.1% |
| Cash Profit (PAT + Dep. & Amortization) | 8,216.6 | 28.5% | 6,392.4 | 24.1% | 28.5% |
| EPSRs- | 10.23 | 6.67 | |||
| CashEPSRs- | 18.48 | 14.08 |
Summarized Balance Sheet
₹ in Millions
| Sl. | ASSETS | As at31.03.2021 | As at31.03.2020 | Sl. | EQUITY AND LIABILITIES | As at31.03.2021 | As at31.03.2020 |
|---|---|---|---|---|---|---|---|
| 1 | Non -Current Assets | Equity | |||||
| (a) | Property, Plant and Equipment | 7,143 | 7,685 | (a) | Equity Share capital | 445 | 453 |
| (b) | Capital work-in-progress | 58 | 69 | (b) | Other Equity | 17,182 | 17,784 |
| (c) | Investment Property | 530 | 545 | Total Equity attributable to owners of the Parent | 17,627 | 18,238 | |
| (d) | Other Intangible Assets | 3,534 | 6,191 | (c) | Non-Controlling Interest | (9) | (9) |
| (e) | Right of Use Assets | 111 | 172 | Total Equity | 17,618 | 18,229 | |
| (f) | Intangible assets under development | 6 | 12 | ||||
| (g) | Financial Assets | LIABILITIES | |||||
| (i) Investments | |||||||
| a) Investment in Associates | 176 | 212 | 1 | Non-Current Liabilities | |||
| b) Others | 1,488 | 669 | (a) | Financial Liabilities | |||
| (ii) Loans | 108 | 117 | (i) Other Financial Liabilities | 109 | 154 | ||
| (iii) Other Financial Assets | 621 | 394 | (b) | Provisions | 230 | 231 | |
| (h) | Deferred Tax Assets (net) | - | 0 | (c) | Deferred tax liabilities (Net) | 42 | 35 |
| (i) | Non-Current Tax Assets (Net) | 4 | 135 | (d) | Other Non-Current Liabilities | 197 | 216 |
| (j) | Other Non-Current Assets | 149 | 253 | ||||
| 13,929 | 16,452 | 578 | 636 | ||||
| 2 | Current assets | 2 | Current liabilities | ||||
| (a) | Inventories | 3,005 | 2,447 | (a) | Financial Liabilities | ||
| (b) | Financial Assets | (i) Borrowings | 919 | 2,102 | |||
| (i) Investments | 889 | 683 | (ii) Trade Payables | ||||
| Total oustanding dues of Micro & Small | |||||||
| (ii) Trade Receivables | 2,318 | 3,080 | Enterprises | 121 | 230 | ||
| Total oustanding dues of creditors Others | |||||||
| (iii) Cash & Cash Equivalents | 198 | 108 | than Micro & Small Enterprises | 3,385 | 3,014 | ||
| (iv) Bank Balances other than (iii) above | 3,406 | 1,082 | (b) | (iii) Other Financial LiabilitiesOther Current Liabilities | 610 | 520 | |
| (v) Loans(vi) Other Financial Assets | 30363 | 663785 | (c) | Provisions | 3011,429 | 4861,455 | |
| (c) | Other Current Assets | 1,060 | 1,484 | (d) | Current Tax Liabilities (Net) | 237 | 112 |
| 11,268 | 10,333 | 7,002 | 7,920 | ||||
| Total Assets | 25,197 | 26,785 | Total Equity and Liabilities | 25,197 | 26,785 |
Net Cash surplus of ₹ 357 cr despite outflow of ₹ 221 cr for Buyback of shares and ₹ 356 cr for 1st and 2nd Interim Dividend.
Awards & Accolades
Chosen as one of India's TOP 15 FMCG Supply Chains 2021 at Inflection FMCG Supply Chain Web Conference & Awards,
Impact Digital featured Emami Founders Shri RS Agarwal and Shri RS Goenka in its Power Business 100 List
Shri RS Agarwal and Shri RS Goenka, conferred with Doctorate of Philosophy (D.Phil) Honoris Causa degree by Amity University.
