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KDDL Ltd Investor Presentation 2022

Nov 7, 2022

60919_rns_2022-11-07_a594efdd-f5eb-46b7-b604-1d7cd9ac9dff.pdf

Investor Presentation

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KDDL Limited

Kamla Centre, SCO 88-89, Sector 8-C, Chandigarh - 160 009, INDIA. Tel: +91 172 2548223/24, 2544378/79 Fax: +91 172 2548302, Website:www.kddl.com CIN-L33302HP1981PLC008123

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Ref : KDDL/CS/2022-23/62 Date : 7[th] November, 2022

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra, Mumbai - 400 051

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001

Trading Symbol : KDDL

Scrip Code : 532054

Subject: Investor Presentation

Dear Sir/ Madam,

Please find enclosed Investor Presentation for Q2 H1 FY23 .

Kindly take the same on record.

Thanking you,

Yours truly

For KDDL Limited

Brahm Prakash Digitally signed by Brahm Prakash Kumar Kumar

Brahm Prakash Kumar Company Secretary

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KDDL Limited

Investor Presentation November 2022

Safe Harbor

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This presentation and the accompanying slides (the “Presentation”), which has been prepared by KDDL Ltd, (the “Company”), 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.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forwardlooking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.

2

Q2 & H1 FY23 Performance Overview

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Q2FY23 Performance

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KDDL Standalone Performance (Rs. Crs.)

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Total Income PAT
+43%
+558%
76.4
26.3
53.6
4.0
Q2FY22 Q2FY23 Q2FY22 Q2FY23
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KDDL Consolidated Performance (Rs. Crs.)

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Total Income
+35%
264.8
196.5
Q2FY22 Q2FY23
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PAT
+3%
6.6 6.8
Q2FY22 Q2FY23
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*Excluding other income from OFS/Brand Sale

4

H1FY23 Performance

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KDDL Standalone Performance (Rs. Crs.)

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Total Income PAT
+45%
+570%
147.0
44.9
101.2
6.7
H1FY22 H1FY23 H1FY22 H1FY23
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KDDL Consolidated Performance (Rs. Crs.)

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Total Income
+51%
515.3
341.3
H1FY22 H1FY23
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PAT
+161%
24.8
9.5
H1FY22 H1FY23
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*Excluding other income from OFS/Brand Sale

5

Standalone Profit & Loss

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Profit & Loss (Rs. Crs.) Q2FY23 Q2FY22 YoY% Q1FY23 QoQ% H1FY23 H1FY22 YoY%
Revenue
Other Income
Total Income
Cost of Goods Sold
Gross Profit
Employee Expenses
Other Expenses
EBITDA
Margin (%)
Other Income
Exceptional Expense#
Interest
Depreciation
PBT
Tax
PAT*		 74.9 53.0
0.6
53.6
14.5
39.0
15.9
12.9
10.3
19.5%
0.0
0.0
1.8
2.9
5.7
1.7
4.0		 41% 69.0
1.6
70.7
17.2
53.4
19.0
17.6
16.8
24.3%
10.6
0.0
1.8
3.1
22.6
4.1
18.5		 8% 143.9 99.2
1.9
101.2
26.6
74.6
31.3
24.2
19.0
19.1%
0.0
0.0
3.7
5.8
9.5
2.8
6.7		 45%
1.5 3.1
76.4 43% 8% 147.0 45%
19.4 36.7
56.9 46% 7% 110.4 48%
19.3 38.3
18.6 36.2
19.1 85% 13% 35.9 89%
25.5% 24.9%
39.1 49.8
19.0 19.0
1.9 3.7
3.1 6.2
34.2 505% 51% 56.7 494%
7.8 11.9
26.3 565% 42% 44.9 569%

*Other Income includes OFS/Brand Sales

Exceptional Expenses includes One time value creation award to Mr. Yasho Vardhan Saboo (Chairman & MD)

6

Consolidated Profit & Loss

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Profit & Loss (Rs. Crs.) Q2FY23 Q2FY22 YoY% Q1FY23 QoQ% H1FY23 H1FY22 YoY%
Revenue
Other Income
Total Income
Cost of Goods Sold
Gross Profit
Employee Expenses
Other Expenses
EBITDA
Margin (%)
Exceptional Expense#
Interest
Depreciation
Share of Profit / (Loss) of equity accounted
investees
PBT
Tax
PAT		 260.1 193.3
3.3
196.5
114.0
82.5
29.0
27.1
26.5
13.7%
0.0
5.9
11.2
0.0
9.2
2.6
6.7		 35% 247.3
3.2
250.4
137.0
113.4
36.3
34.0
43.2
17.5%
0.0
6.2
11.7
0.2
25.5
7.4
18.1		 5% 507.4 332.3
9.0
341.3
190.0
151.3
55.6
48.6
47.1
14.2%
0.0
11.8
21.7
-0.1
13.5
4.0
9.5		 53%
4.7 7.9
264.8 35% 6% 515.3 51%
141.9 278.9
122.9 49% 8% 236.3 56%
36.5 72.7
39.6 73.5
46.9 77% 8% 90.1 91%
18.0% 17.8%
19.0 19.0
5.6 11.8
11.9 23.6
0.0 0.2
10.4 13% -59% 35.9 167%
3.7 11.1
6.8 2% -63% 24.8 162%

Exceptional Expenses includes One time value creation award to Mr. Yashovardhan Saboo (Chairman & MD)

7

Consolidated Profit & Loss |Without IND AS 116

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Profit & Loss (Rs. Crs.) Q2FY23 Q2FY22 YoY% Q1FY23 QoQ% H1FY23 H1FY22 YoY%
Revenue
Other Income
Total Income
Cost of Goods Sold
Gross Profit
Employee Expenses
Other Expenses
EBITDA
Margin (%)
Exceptional Expense
Interest
Depreciation
Share of Profit / (Loss) of equity accounted
investees
PBT
Tax
PAT		 260.1 193.3
3.3
196.5
114.0
82.5
29.0
34.3
19.3
10.0%
0.0
3.3
4.5
0.0
11.4
2.6
8.8		 35% 247.3
3.2
250.4
137.0
113.4
36.3
42.5
34.6
14.0%
0.0
3.2
4.9
0.2
26.7
0.0
26.7		 5% 507.4 332.3
9.0
341.3
190.0
151.2
55.6
65.4
30.3
9.1%
0.0
6.5
8.8
-0.1
14.9
4.0
10.9		 53%
4.7 7.9
264.8 35% 6% 515.3 51%
141.9 278.9
122.9 49% 8% 236.3 56%
36.5 72.7
48.0 90.6
38.4 99% 11% 73.0 141%
14.8% 14.4%
19.0 19.0
2.7 6.0
5.1 9.9
0.0 0.2
11.7 2% -56% 38.3 158%
3.7 3.7
8.0 -10% -70% 34.7 219%

Exceptional Expenses includes One time value creation award to Mr. Yashovardhan Saboo (Chairman & MD)

8

Standalone Balance Sheet

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Assets(Rs. Crs.) Sep-22 Mar-22 Liabilities(Rs. Crs.) Sep-22 Mar-22
Non-current assets
Property, plant and equipment
Capital work-in-progress
Right-of-use asset
Investment Property
Intangible assets
Intangible assets under development
Financial assets
(i) Investments
(ii) Loans
(iii) Other Financial assets
Income Tax Asset
Other Non Current Assets
Current assets
Inventories
Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Other bank balances
(iv) Loans
(v) Other financial assets
Other current assets		 277.5 248.1
92.6
2.3
9.4
0.1
0.1
0.0
137.8
0.8
0.9
2.8
1.2
102.9
27.9
0.0
45.1
13.3
2.9
0.7
3.3
9.7		 Equity
Equity share capital
Other equity
Non-current liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Other financial liabilities
Provisions
Deferred tax liability (net)
Current liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Trade payables
(iv) Other financial liabilities
Other current liabilities
Provisions
Current tax liabilities(net)		 255.7 215.9
12.8
203.1
47.5
39.0
2.5
1.0
0.0
4.9
87.7
29.4
2.4
20.7
14.4
16.7
3.7
0.4
95.2 12.8
1.7 242.9
8.3
0.0
0.1 50.2
0.0
42.1
146.1 1.6
12.3 1.6
1.1 0.0
2.4 4.8
10.4
143.4 115.1
35.2
0.0 25.7
42.4 2.0
14.5 24.3
10.2 39.4
0.7 15.2
4.3 3.8
36.1 4.8
Total Assets 421.0 351.1 Total Liabilities 421.0 351.1

9

Consolidated Balance Sheet

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Assets(Rs. Crs.) Mar-22 Mar-22 Liabilities(Rs. Crs.) Sep-22 Mar-22
Non-current assets
Property, plant and equipment
Capital work-in-progress
Right-of-use asset
Intangible assets
Intangible assets under development
Investment Property
Equity accounted investees
Financial assets
(i) Investments
(ii) Loans
(iii) Other financial assets
Income Tax Asset
Deferred tax assets (net)
Other Non-Current Assets
Current assets
Inventories
Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Other bank balances
(iv) Loans
(v) Other financial assets
Other current assets		 325.7 300.8
159.9
2.3
104.9
0.6
0.0
1.4
1.6
0.5
0.8
12.0
4.7
9.1
3.0
437.7
279.5
45.4
52.0
5.1
1.0
9.3
45.4		 Equity
Equity share capital
Other equity
Non-Controlling Interest
Non-current liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Other financial liabilities
Provisions
Deferred tax liability (net)
Current liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Trade payables
(iv) Other financial liabilities
Other current liabilities
Provisions
Current tax liabilities(net)		 680.5 309.6
12.8
238.8
58.0
170.4
77.2
84.8
1.7
1.4
5.2
258.5
77.7
25.3
105.6
24.0
17.4
7.8
0.6
162.0 12.8
6.1 433.6
0.5 234.0
0.0
96.1
1.4 159.9
1.8
75.0
0.5 76.3
0.7 1.8
21.5 1.9
4.7 4.9
17.6
12.7
267.1
781.8
350.0 39.8
22.9
52.4 110.6
46.5 49.3
262.5 30.9
1.0 7.5
13.8 6.0
55.7
Total Assets 1,107.5 738.5 Total Liabilities 1,107.5 738.5

10

New Capex to drive growth

Dials Factory

  • Expansion of Dials factory situated at Derabassi, Punjab

  • The expansion will enhance the capacity of the unit by 0.5 million pcs. per annum, especially to cater for exports to the medium-high watch segment of Swiss Watches

• The expansion will involve capex of Rs. 16 crores and will be executed in phases over two years period (in FY23 and FY24)

Steel Bracelets

  • Setting up of a new plant for manufacturing of top quality steel bracelets for watches around Bangalore (Karnataka)

  • The plant will cater exclusively to mid and high-end Swiss and European watches market

• The expansion will involve a capital expenditure of Rs. 25 crores to be executed over next two years (in FY23 and FY24)

  • The plant is intended to be setup with a capacity of 100k steel bracelets p.a.

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11

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Manufacturing Business Overview

12

Introduction - Watch Dials and Hands Business

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Watch Dials
Watch Hands
Value
Proposition
▪ Commercial operations
began in 1983 ▪ Commercial operations
▪ Leading Global supplier of began in 1996 ▪ Deep Understanding of the
Global Watch Industry
Watch Dial serving many ▪ Only supplier in India and
well-known brands all
one of 5 independent ▪ Established relationships
over the world
manufacturers globally; with Swiss Watch makers
as well as Indian Watch
facilities located at
▪ Manufacturing facilities makers
Bengaluru
located at Parwanoo &
▪ ▪
Derabassi, near Acquired Estima AG in Consistent Manufacturing
Chandigarh in India Switzerland; to enhance meeting International
Quality norms
presence in mid-priced
▪ Capability to manufacture
segment European Brands
dials with high & complex
features
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13

Precision Engineering Business

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Eigen offers a full package of services, ranging from design and development to full scale production, providing customers with optimized supply chain solutions

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Value Proposition
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We address various segments such as Electrical, Electronics, Automobile, Telecommunications, medical equipment, Aerospace, Consumer Durables etc

Capabilities

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----- Start of picture text -----

Customers
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Enabling our customers to meet their design and production needs for over 12 years. We have some of the most well-known names in their industry as our esteemed customers

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14

Manufacturing Performance*

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Revenue (Rs. Crs.)
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----- Start of picture text -----

EBITDA (Rs. Crs.)
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----- Start of picture text -----

218 40
+11%
+11%
181
176
32
29
146 147 27
24
FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22
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The results for FY21 were adversely affected by the COVID-19 pandemic and may not be strictly comparable with previous periods

15

*Excludes the Financial Performance of Estima AG, Switzerland

Ethos - Consolidated Profit & Loss

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Profit and Loss (in Rs. Crs) Q2FY23 Q2FY22 YoY Q1FY23 QoQ H1FY23 H1FY22 YoY
Revenue from Operations
Other Income
Total Income
Cost of Goods Sold
Gross Profit (Revenue - COGS)
Gross Profit Margin
Employee Cost
Other Expenses
EBITDA
EBITDA Margin
Depreciation
EBIT
EBIT Margin
Finance Cost
Share in Profit/(loss) in JV and
Associates
Profit before Tax
Profit before Tax Margin
Tax
Profit After Tax
Profit After Tax Margin		 177.7 134.4
2.5
136.9
98.1
36.2
27.0%
10.8
12.6
15.4
11.2%
7.9
7.5
5.5%
3.9
0.0
3.6
2.6%
0.9
2.7
1.9%		 32%
58%
93%
187%
412%
411%		 173.6
2.2
175.8
118.9
54.7
31.5%
12.4
15.2
29.3
16.7%
8.2
21.1
12.0%
4.2
0.2
17.1
9.7%
4.3
12.8
7.3%		 2%
5%
1%
1%
6%
5%		 351.3 223.3
7.7
231
161.7
61.6
27.6%
19.3
22.8
27.2
11.8%
14.9
12.3
5.3%
7.6
-0.1
4.6
2.0%
1.2
3.5
1.5%		 57%
82%
117%
246%
658%
655%
3.7 5.9
181.4 357.2
120.4 239.3
57.3 112
32.2% 31.9%
12.2 24.6
19.1 34.3
29.7 59
16.4% 16.5%
8.2 16.4
21.5 42.6
11.8% 11.9%
3.3 7.6
0.0 0.2
18.2 35.2
10.0% 9.9%
4.6 8.9
13.6 26.4
7.5% 7.4%

For Ethos updates – Please refer to the presentation uploaded to stock exchanges by Ethos Limited

16

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For further information, please contact:

Company : Investor Relations Advisors : KDDL Limited CIN : L33302HP1981PLC008123 CIN : U74140MH2010PTC204285 Sanjeev Masown, CFO – KDDL Shogun Jain/ Mandar Chavan [email protected] +91 77383 77756 / +91 96993 82195 [email protected] / [email protected] www.kddl.com www.sgapl.net

17

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