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Jyothy -Investors 250111.pdf

Jyothy -Investors 250111.pdf

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Published by Amar Kumar
Jyothy -Investors 250111.pdf
Jyothy -Investors 250111.pdf

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Published by: Amar Kumar on Apr 27, 2013
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Strictly Private & Confidential

Jyothy Laboratories Limited
January 25, 2010

Contents
Company Overview Financial Summary for Half Year 2010-11 Category-wise Analysis

1

P.3 % all-India market share by volume for Sept 2010* .5 % South India market share by value and 20.No. personal care and air care segments Promoted by Mr. 1 25.Company Overview A FMCG company with presence in the fabric care. Ramachandran has over 37 years of experience in production.1 % by volume for September 2010* # Liquid Blue Category *Source: A. 2 Exo: 22. Ramachandran in 1983 Mr.2 % all-India market share by value and 25. Nielsen 2 .C.1 % all-India market share by value and 57 % by volume for September 2010* Maxo: 23. M. surface cleaning.No.3 % by volume for September 2010* 33% Rural India market share by volume for Sept 2010* . household insecticide. sales and management Leadership through Key Brands: Ujala: #1 in Fabric Care: 71.

2010 (Source: A.C.500 distributors Field staff have a direct reach of ~ 1 million outlets Strong presence in both rural and urban markets Manufacturing 28 manufacturing facilities in 16 locations across India – some of these are tax efficient units Offering Value-for-Money Products to the Common Man 3 .800 people servicing approx.) Extensive Distribution Network Available in ~ 2.7 mn outlets in India as of March 31.Company Overview (Cont’d. 3. Nielson) Sales staff of over 1.

Financial Summary 2010-11 4 .

535 44. Year Ended 31.505) 7. in lacs) Net sales Other income Total Income Cost of Goods Sold Employee Cost Advertisement & Sales Promo Other Expenses EBITDA Depreciation Interest and Finance Charges Profit before tax Tax Profit after tax EPS Book Value Per Share December December December December 2009 2010 2010 2009 14.626 (7.492 783 15.806 7.911) (1.32 55.290) 8.90 .150 (460) 1.314) 5. 9 months ended 31.476 1.200 (1.106 (2.938) (5.213 (1.14 1.100) (1.931 (246) 1.101) 8.192 (258) (4) 1.560) (4.857) 2.385 38.690 2.607 (1.008 39.668) 2.58 84.864) (1.90 1.891 (7.10 84.711 46. March 2010 57.288) 11.478) (4.29 55.819 59.295 (31.461 (304) (6) 2.349 (726) (16) 6.97 5 Particulars (Rs.204) (1.831) (3.03 54.096 (22. 3 months ended 31.686) (6.500 (19.962) (5.277) (6.Profit & Loss Account 3 months ended 31.046) (61) 10. 9 months ended 31.534) (1.684 2.005 11.092 (877) (15) 7.726) (1.205) (2.394) 5.842 13.216) (5.294 7.14 356 13.

In lacs Reasons Q3 Increase in MRP of Ujala & Exo Increase in VAT Increase in Excise Duty Increase in Raw Material Prices Increase in Advertisement Increase in Freight Cost 928 (175) (75) (703) (433) (75) 6 .Major Factors affecting Profitability Rs.

29 7.0 5.0 3.58 PAT (Rs crores & PAT Margin (%) EPS increased by 4% PAT increased by 10% 70 60 50 40 30 20 10 0 13.0 6.9 Months Financials Highlights – Profit & Loss Total Income (Rs in crores) 500 400 300 200 100 EBITDA increased by 10% Total Income increased by 17% EBITDA (Rs crores) & EBITDA Margin (%) 100 80 16.0 7.0 2.75 13.0 4.0 0.6 60 16.0 2009 2010 7.2 73 81 10 5 2009 2010 25 20 15 395 461 40 20 0 0 2009 2010 EPS (INR) 8.08 15 13 11 53 58 9 7 5 2009 2010 7 .0 1.

Quarterwise Sales & Profitability Gross Sales 2008-09 2009-10 Q1 21% 21% Q2 19% 23% Q3 26% 23% Q4 34% 33% Net Profit 2008-09 2009-10 Q1 31% 27% Q2 9% 18% Q3 23% 21% Q4 37% 34% 35% of the sales and profit comes from the last quarter. 8 . Quarterly variation in sales and profit is due to seasonality.

6% from 16.Critical RM Cost Movement Brand Raw Material Consumption Rate Q3 FY 11 Consumption Rate Q3 FY 10 Increase Ujala Ujala Maxo Maxo Exo Soaps HDPE Granules Koylene PP Guar Gum Tamarind Starch Acid Slurry Soap Noodles 70 78 63 29 60 45 67 68 51 17 55 40 4% 14% 22% 70% 10% 13% Due to Raw Material Cost increase EBITDA margins are at 16.2% inspite of Ujala MRP increase. 9 .

03 1808.75 522.71 204% 6% 31% 89% 81% 10 .96 631.97 59. In lacs Brand Apr-Dec’10 Apr-Dec’09 Variation Ujala Maxo Exo Others Total 1807.84 594.84 3271.14 111.Advertisement Cost Rs.05 668.81 684.

Advertisement Cost Advertisement cost has increased due to Endorsement by Sachin Tendulkar Production cost of new creative for Ujala Detergent Maxo Wet Wipe and Exo Round Focus on Maxo Liquid Sponsored 2 prime time properties on Sony TV Entertainment Ke Liye Kuch Bhi Karega and Jhalak Dhikhlaja .

842 1.385 3.131 663 4.4% 14.483 14.% to Net Sales 15.4% 12 .271 7.195 8.413 9. In lacs Brand Q1 Q2 Q3 Total Net Sales Advertisement Cost Advt .1% 44.Advertisement Cost Rs.8% 1.

Category-wise performance 13 .

219 for 2010) Other Products 7% (7%) Net Sales : Rs.850 lacs (Rs. 2.6. 3. 18.031 lacs (Rs.904 lacs (Rs.Brand Tree Category-wise Revenue Mix for 9 M FY2011 Fabric Care 52% (49%) Net Sales : Rs.589 for 2010) Dishwashing Products 19% (16%) Net Sales : Rs. 10. 9.993 for 2010) Mosquito Repellent 22% (28%) Net Sales : Rs.689 for 2010) 14 .600 lacs (Rs. 8. 22.

362 3.535 10% Category Fabric Care Mosquito Repellent Dishwashing Other Products Rs in Lacs 9 Months Ended December 2010 2009 Growth % 22.492 15% 15 .993 20% 9.842 13.850 18.957 2.904 10.690 13% 44.031 2.115 40% 924 888 4% 14.220 38% 3.979 -16% 2.600 6.Sales Category-wise Net Sales Category Fabric Care Mosquito Repellent Dishwashing Other Products Rs in Lacs 3 Months Ended December 2010 2009 Growth % 7.590 -6% 8.385 38.553 16% 3.Financial Snapshot .599 6.

Nielsen 16 .C. 350 crores) Largest Brand in Fabric Whitener Brand Facts Launched in 1983 – A 27-year old Brand Largest brand in the fabric whiteners segment Positioning Positioned as a liquid fabric whitener that do not cause the clothes to “blue” or appear patchy Market Share #1 in Product Category: 71% all-India market share by value for September 2010* Kerala – 99.99% by value for March 2010* Brand Extension Washing Powder – Launched in 2003 in Kerala & extended to other southern states in January 2009. Ujala Stiff and Shine – Launched in Kerala in 2005 and nationally in March 2008 Brand Endorsement SACHIN TENDULKAR – Brand Ambassador for 30 months.Fabric Care: UJALA (Brand Size – Rs. Going Forward 2010-11 Detergent – Rollout in other states underway Looking for Brand Extensions * * Source: A.

Partial withdrawal of sales promotion schemes continues *Source: A.No. Nielsen 17 .C.No. 1 25. 2011. 260 crores) Largest Player in Rural Market Brand Facts One of the leading brands in the mosquito repellent segment.Mosquito Repellent: MAXO (Brand Size Rs. Government of India. 2 Brand Extension Liquids /Aerosols DEPA products for outdoor application Going Forward 2010-11 Focus on liquid/aerosol/Depa Bought technology DEPA (a repellant formulation for all Blood sucking insects and Mosquitoes) from “DRDO” (Defense Research & Development Organization) Ministry of Defense. National launch Feb 14. launched in 2000 Positioning Positioned as a mosquito repellant offering “corner to corner” protection Market Share Position 33% Rural India market share by volume for Sept 2010* .3 % all-India market share by volume for Sept 2010* .

175 crores) Brand Facts Exo Dishwash Bar . Nielsen 1 Southern states include T.Exo Liquid Dishwashing scrubber . Kerala and A.N.India’s first anti-bacterial dish wash launched in 2000 Features Cyclozan.5 % market share by value in Southern India for September 2010* Brand Extension Dishwashing liquid .Dishwashing Products: EXO (Brand Size Rs. which gives a protective cover against bacterial contamination of utensils Positioning Positioned as a brand giving consumers protection against bacterial contamination of utensils in addition to the promise of “clean and shiny” utensils – EXO Family HEALTHY Family.C. Market Share 22.Exo Safai Going Forward 2010-11 National roll out started in phased manner Presently available in 5 lakh retail outlets *Source: A. 18 . Karnataka.P..

62 per equity share in August 2010 Proceeds are currently invested in Fixed Maturity Plans and Fixed Deposits with Banks. Funds will be utilised for business acquisitions.88 crores through issue of 80.Utilisation of QIP Proceeds Raised 227. 282. 19 .63 lacs shares at Rs.

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