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Nitco Limited

Investor Update. Nitco Limited. April 2008 - March 2009. June 24, 2009. Index. Financial Review. 1. Product Wise Performance. 2. 3. Future Growth Plans. 4. Financial Statements. 5. Shareholding Pattern. Financial Review. Performance Review FY’09 Vs. FY’08.

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Nitco Limited

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  1. Investor Update Nitco Limited April 2008 - March 2009 June 24, 2009

  2. Index Financial Review 1. Product Wise Performance 2. 3. Future Growth Plans 4. Financial Statements 5. Shareholding Pattern

  3. Financial Review Performance Review FY’09 Vs. FY’08 Gross Revenues up 3.6% to Rs 6,746.6mn Product-wise Sales Mix FY’08 FY’09 Rs Mn 51.2% 0.3% 50.6% 5.7% 4.6% 0.9% 1.8% 0.4% 20.2% 19.7% 22.3% 22.5% • Gross Sales up 3.6% from Rs 6,510.0mn to Rs 6,746.6mn: • Vitrified tiles up 2.5% to Rs 3,414.4mn • Ceramic tiles up 2.7% to Rs 1,502.6mn • Marble up 6.1% to Rs 1,359.8mn • Cement sales up 28.7% to Rs 382.4mn • EBITDA down by 13% from Rs 865.7mn in FY’08 to Rs 753.2mn in FY’09 with EBITDA margin down from 13.6% to 11.3% • Overall EBITDA margin declined due to increase in material cost on account of depreciation of rupee increasing cost of procurement of vitrified tiles which could not be fully passed on to the customers due to difficult market conditions. Material costs as a percentage of net sales increased from 56.6% in FY’08 to 58.1% FY’09 • PAT stood at Rs 249.7mn in FY’09 down from Rs 510.2mn in FY’08 • Interest and other financial charges increased by 69% to Rs 235.6mn in FY’09 from Rs 139.4mn in FY’08 due to forex loss of Rs. 83.7 mn in FY’09 as against forex gain of Rs. 11 mn during FY’08. • Higher provision for tax (up 15.9% to Rs 123.9mn in FY’09 as compared to Rs 106.8mn in FY’08) on account of increased provision of deferred tax. Marble Vitrified Ceramic Mosaic Others Cement

  4. Product wise Performance Vitrified Tiles Gross Sales from vitrified tiles up 2.5% from Rs 3,331.6mn to Rs 3,414.4mn Realisation increased by 10% from Rs 496 per sq mt in FY’08 to Rs 545 per sq mt in FY’09 Launched more than 30 new products during FY’09 2.5% Gross Sales from ceramic tiles up 2.7% from Rs 1,463.3mn to Rs 1,502.6mn Realisation increased by 11% from Rs 320 per sq mt in FY’08 to Rs 356 per sq mt in FY’09 Launched more than 15 new products during the year with major launches being Naturoc and a wide range of wall tiles Ceramic Tiles 2.7%

  5. Product wise Performance Marble Gross Sales from marble up 6.1% from Rs 1,281.9mn to Rs 1,359.8mn Realisation increased by 8% from Rs 227 per sq ft in FY’08 to Rs 246 per sq ft in FY’09. 6.1% Cement 28.7% Gross Sales of cement up by 28.7% from Rs 297.2mn in FY’08 to Rs 382.4mn in FY’09 Cement imports from Pakistan in FY’09 was discontinued in the wake of 26/11 attacks

  6. Along with increased emphasis on retail clients Client mix FY’09 FY’08 Retail, 60% Retail, 40% Institutional, 40% Institutional, 60% Favorably shifted retail – institutional sales mix from 40:60 in FY’08 to 60:40 in FY’09 . Further plans to increase the retail - institutional sales mix to 80:20 in next 3 years Expanded distribution network to 778 direct dealers, more than 500 retail outlets, 18 sales & marketing offices, 130 sales & display counters in multi brand outlets and 19 warehouses across the country. Successfully running 14 LE Studio and 36 LE Studio Express stores by the end of FY’09. Plans to establish 400 Franchise LE Studio Express stores to further strengthen the retail sales in next 3 years.

  7. New product launches with capacity expansion to drive future growth New Product Launches • Launched premium quality brand ‘Naturoc’ as a substitute for imported high end tiles from Italy and Spain – a new category of Gres porcelain floor tiles manufactured for the first time in India • Added ‘wall tiles’ to the product portfolio. Capacity Expansion • Enhanced production capacity by 96,950 MT per annum for Gres Porcelain ceramic tiles at Alibaug plant in Maharashtra • State-of the art marble processing plant at Silvassa is expected to be commissioned in 2010

  8. Financial Statements – Income Statement (In Rs Mn)

  9. Financial Statements – Ratio Analysis

  10. Shareholding Structure as on 31st Mar 2009 Other Corporate Public, 6.7% Promoter & Bodies, 12.3% Promoter Group, 45.2% NRIs/OCBs, 4.2% MFs/Bank/FIs, 6.7% FIIs, 24.9% No. of shares outstanding: 32.12mn

  11. About Nitco Ltd Nitco Ltd. (Nitco) is a complete flooring solutions provider. The company’s product category includes ceramic floor tiles, vitrified tiles, paving tiles, mosaic tiles and imported marble. It caters to both institutional and retail clients through its large-scale network of 700 direct dealers and over 5,000 retail outlets spread over India. The key institutional clients include Pantaloon Retail, Reliance Retail, Hiranandani, Raheja, Godrej Properties, Oberoi Construction, DLF, Nirmal Lifestyle, Keystone, Piramal, Shrusti, Runwal, RNA, several large corporates, banks and financial institutions, etc.. For further information please visit www.nitcotiles.com Forward Looking Statement Certain statements in this document with words or phrases such as “will”, “should”, etc., and similar expressions or variation of these expressions or those concerning our future prospects are forward looking statements. Actual results may differ materially from those suggested by the forward looking statements due to a number of risks or uncertainties associated with the expectations. These risks and uncertainties include, but are not limited to, our ability to successfully implement our strategy and changes in government policies. The company may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the stock exchanges and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.

  12. Contact Us For any Investor Relations queries please contact: Jogendra Sethi Nitco Ltd Email: jogendrasethi@nitcotiles.com Tel. No. +91-22-66164555

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