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7/31/2019 Jyothy - Analyst Meet 090609
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Strictly Private & Confidential
Jyothy Laboratories Limited
9, June 2009Analyst Meet
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Contents
Company Overview
Financial Summary for 2008-09
Category-wise Analysis
Jyothy Fabricare Services Limited (JFSL) Status Update
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Company Overview
A FMCG company with presence in the fabric care, household insecticide, surface cleaning,
personal care and air care segments
Promoted by Mr. M.P. Ramachandran in 1983
Mr. Ramachandran has over 37 years of experience in production, sales and management
Leadership through Key Brands:
Ujala: #1 in Fabric Care: 73.5% all-India market share by value and 58.0% by volume for April
2009* (75.2% by value and 60.9% by volume for April 2008)
Maxo: 22.8% all-India market share by value and 24.3% by volume for April 2009* (21.0% by
value and 24.4% by volume for April 2008)
Exo: 23.8% South India market share by value and 22.9% by volume for April 2009* (21.7% by
value and 22.1% by volume for April 2008)
*Source: A.C. Nielsen
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Company Overview (Contd.)
Extensive Distribution Network
Available in ~ 2.9 mn outlets in India as of March 31, 2009 (2.8 mn for March 2008)(Source: A.C.
Nielson)
Sales staff of over 1,500 people servicing approx. 2,500 distributors
Field staff have a direct reach of ~ 1 million outlets
Strong presence in both rural and urban markets
Manufacturing
21 manufacturing facilities in 14 locations across India some of these are tax efficient units
Offering Value-for-Money Products to the Common Man
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Financial Summary
2007-08
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Profit & Loss Account
Particulars (Rs. in lacs)
Year EndedMarch 2009(9 months)
9 months endedMarch 2008
Year EndedJune 2008
(12 months)
Gross Sales 45,194 34,247 46,554
Net sales 35,154 27,665 37,530
Other income 775 510 791
Total Income 35,929 28,175 38,321
Cost of Goods Sold (19,822) (14,306) (18,756)
Employee Cost (4,341) (3,636) (4,791)
Advertisement & Sales Promo Expenses (1,788) (2,273) (3,015)
Other Expenses (4,202) (3,344) (4,675)
EBITDA 5,776 4,616 7,084
Depreciation (681) (533) (741)
Interest and Finance Charges (37) (10) (68)
Profit before exceptional item and tax 5,058 4,073 6,274
Exceptional Item 0 633 633
Tax (1,047) (1,153) (1,666)
Profit after tax 4,011 3,553 5,241
EPS 5.53 4.90 7.22
Book Value Per Share 48.55 45.22 45.36
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Balance Sheet
Particulars (Rs. in lacs)Year EndedMarch 2009
Year EndedJune 2008
Share Capital 726 726
Reserves and Surplus 36,204 32,194
Net Worth 36,930 32,920
Total Loans (Sales Tax Deferral) (17) (17)
Net Block 18,511 18,141
Capital Work in Progress 611 907
Investments 1,723 231
Cash and Bank Balances 10,017 9,545
Net Current Assets (Excluding Cash)^ 6,085 4,113
^ Net Current Assets (excl cash) defined as (Inventory+Sundry Debtors+Other current assets sales promotion items-Current Liabilities-Provisions)
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Category-wise performance
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Brand Tree
Fabric Care (39%)Gross Sales*: Rs. 17,566 lacs
(Rs. 15,304 for 2008)
Mosquito Repellent (37%)Gross Sales*: Rs. 16,973 lacs
(Rs. 12,434 for 2008)
Dishwashing Products (17%)Gross Sales*: Rs. 7,630 lacs
(Rs. 3,832 for 2008)
Other Products (7%)Gross Sales*: Rs. 3,025 lacs
(Rs. 2,676 for 2008)
* For the year ended March 31, 2009 (9 months)
Category-wise Revenue Mix
http://c/Documents%20and%20Settings/neetu/My%20Documents/My%20Pictures/JLLProducts/jeeva-soap.jpghttp://c/Documents%20and%20Settings/neetu/My%20Documents/My%20Pictures/JLLProducts/jeeva-soap.jpg7/31/2019 Jyothy - Analyst Meet 090609
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Financial Snapshot - Sales
2009 Category-wise Revenue Breakdown
48%
34%
11%
7%
Sales
Fabric Care
Mosquito
Repellent
Dishwashing
Other Products
2008 Category-wise Revenue Breakdown
39%
37%
17%
7%
Sales
Fabric Care
Mosquito
Repellent
Dishwashing
Other Products
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Financial Snapshot - Sales
Category-wise Net Sales Compared with 2008
Category 2008-09 2007-08 Growth %
Fabric Care 15,909 14,077 13.0%
Mosquito Repellent 11,530 8,817 30.8%
Dishwashing 5,251 2,643 98.7%
Other Products 2,463 2,128 15.7%
35,154 27,665 27.1%
July to March (9 months)
0
2000
4000
6000
8000
10000
12000
14000
16000
18000
Fabric Care Mosquito
Repellent
Dishwashing Other
Products
2008-09
2007-08
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1
Fabric Care: Ujala (Brand Size 245 crores)
* Source: A.C. Nielsen
Brand Facts
Launched in 1983 A 26-year old Brand
Largest brand in the fabric whiteners segment
Positioning
Positioned as a liquidfabric whitener that do not cause the clothes to blue or
appear patchy
Market Share
#1 in Product Category: 73.5% all-India market share by value for April 2009*
Was purchased by 75.4 Mn surveyed households (representing 37%) during the
period April 1, 2006 to March 31, 2007
Brand Extension
Washing Powder Launched in 2001 in Kerala & is extended to other southernstates in January 2009
Ujala Stiff and Shine Launched in Kerala in 2005 and nationally in March 2008
Consolidation Through Acquisition
Acquisition of Ruby liquid blue and More Light brand in 2007-08.
Going Forward 2009-10
Stiff & Shine national campaign
Morelight positioned to combat low priced blues in Bihar, UP, Orissa
Ruby relaunch in Karnataka
Looking for Brand Extentions
Largest Brand in Fabric Whiteners
*
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Fabric Care: Ujala (Contd.)
1 includes Ujala detergents and Ujala Stiff and Shine
1.8
2.0
2.2
1.8
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
FY06 FY07 FY08 FY09
Ujala Brand Performance Gross Sales Liquid Fabric Whitener Market Shares
69
53
69
54
74
58
71.7
56.3
0
20
40
60
80
Value Volume
2006 2007 2008 2009
(Rs bn) (%)
Source: A.C. Nielsen
1 For calculating CAGR FY09 nine months numbers are converted into 12 months on Pro rata basis
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Mosquito Repellent: Maxo (Brand Size 203 crores)
Brand Facts
One of the leading brands in the mosquito repellent segment;
launched in 2000
Positioning Positioned as a mosquito repellant offering corner to corner
protection
Market Share
22.8% all-India market share by value and 24.3% by volume for
April 2009*
Brand Extension
Liquids in 2006
Aerosol sprays in 2007
Going Forward 2009-10
Focus on liquid/aerosol
Partial withdrawl of consumer /trade offers in coils
Brand Investments/New Campaign
*Source: A.C. Nielsen
Largest Player in Rural Market
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Mosquito Repellent: Maxo
1.3
1.71.6
1.7
0.0
0.2
0.4
0.6
0.8
1.0
1.2
1.4
1.6
1.8
2.0
2.2
2.4
FY06 FY07 FY08 FY09
Maxo Brand Performance Gross Sales Maxo Coils Market Shares
19
22
20
22
20
23
21
23
0
5
10
15
20
25
30
Value Volume
2006 2007 2008 2009
(Rs bn) (%)
Source: A.C. Nielsen
1 For calculating CAGR FY09 nine months numbers are converted into 12 months on Pro rata basis
h h d ( d )
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Dishwashing Products: Exo (Brand Size 91 crores)
Brand Facts
Exo Dishwash Bar - Among Indias first few anti-bacterial
dish wash launched in 2000
Features Cyclozan, which gives a protective
cover against bacterial contamination of utensils
Currently sold only in Southern India.
Positioning
Positioned as a brand giving consumers protection against
bacterial contamination of utensils in addition to their
promise of clean and shiny utensils
Market Share 23.8% market share by value in Southern India for April
2009*
Brand Extension
Dishwashing liquid detergent Exo Liquid
Dishwashing scrubber Exo Safai
Going Forward 2009-10
National roll out in phased manner from October 2009
1 Southern states include T.N., Karnataka, Kerala and A.P.
*Source: A.C. Nielsen
Di h hi P d t E M k t Sh M t
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Dishwashing Products: Exo Market Share Movement
1 Southern states include T.N., Karnataka, Kerala and A.P.
*Source: A.C. Nielsen
State Market Share30th April 2009
Market Share30th April 2008
Kerala 38.1% 32.5%
Tamil Nadu 15.6% 16.2%
Karnataka 24.6% 31.1%
Andhra Pradesh 22.3% 13.8%
South India 23.8% 21.7%
Di h hi P d t E
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Dishwashing Products: Exo
Exo Brand Performance Gross Sales Exo Dish Wash Bar Market Shares
1211
1615
18 18
20.119.7
0
5
10
15
20
25
Value Volume
2006 2007 2008 2009
(Rs mn) (%)
Source: A.C. Nielsen1 For calculating CAGR FY09 nine months numbers are converted into 12 months on Pro rata basis
J th F b i S i Li it d (JFSL) St t U d t
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Jyothy Fabricare Services Limited (JFSL) Status Update
Acquired Snoways chain of laundry in Bangalore
Opened additional 16 outlets of Snoways, washing 2000 pcs a
day in retail outlets of Snoways (Total 24)
FABRIC SPA flagship brand will be launched in August 2009
with 2 QSS and 10 CDC
2 acres of land acquired at Apparel Park at Doddaballapur -
Bangalore
60000 sq ft. build up area is under construction expected to
be completed by July 15, 2009
LCs have been opened for World Class Machineries
(JFSL) Branding
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(JFSL) Branding
Institutional JFSL 48clients
Economy Snoways 24outlets washing 2000 pcs aday
Premium Fabric Spa to belaunched in September09
JFSL Project Cost Update
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JFSL Project Cost Update
Land 2.50
Building 8.00
Machinery 12.00
Acquisition of Snoways 1.50
Retail Outlet Deposit/Interiors 3.00
IT Hardware & Infrastructure 3.00
Vehicle/Logistics 2.00
Pre-Operative Expenses 2.00
Contingencies 1.00
Total 35.00
Equity Share Capital 5.00
Preference Share Capital 15.00
Term Loan 15.00
Total 35.00
Cost of Project Funding
Rupees in crores
JFSL Some clients as on May 2009
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JFSL Some clients as on May 2009
Hotels & Resorts Airlines ServicedApartments
Others
Royal Orchid Luftansa Oakwood - Prestige Fitness One
ITC Fortune Air France Sterling Suites Big Bazar Food Court
Mapple Singapore Airlines Living Space
Hotel IRIS Paramount Chalet India
Grand Inn Jet
Golden Residency LSG Skychef
Bangalore Gate Taj Sats
Hotel Atria
RamanashreeHotel 9 Marks Inn
Fabric Spa Building
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Fabric Spa Building
JFSL Institution
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JFSL Institution
JFSL Institution
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JFSL Institution
Snoways Outlet
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Snoways Outlet
Fabric Spa Retail Outlet
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Fabric Spa Retail Outlet
Launch by September 2009 with MSS, 2 QSS & 10 CDC
Model Outlet.wmv
http://model%20outlet.wmv/http://model%20outlet.wmv/7/31/2019 Jyothy - Analyst Meet 090609
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2
Thank You