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

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Presentation on theme: "Nitco Limited Investor Update June 24, 2009 April 2008 - March 2009."— Presentation transcript:

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

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

3 3 Financial Review Performance Review FY09 Vs. FY08 Gross Revenues up 3.6% to Rs 6,746.6mn Product-wise Sales Mix 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 FY08 to Rs 753.2mn in FY09 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 FY08 to 58.1% FY09 PAT stood at Rs 249.7mn in FY09 down from Rs 510.2mn in FY08 Interest and other financial charges increased by 69% to Rs 235.6mn in FY09 from Rs 139.4mn in FY08 due to forex loss of Rs. 83.7 mn in FY09 as against forex gain of Rs. 11 mn during FY08. Higher provision for tax (up 15.9% to Rs 123.9mn in FY09 as compared to Rs 106.8mn in FY08) on account of increased provision of deferred tax. 1.8% 0.3% FY08FY09 0.4% 5.7% 22.3% 20.2% 50.6% VitrifiedCeramic Marble MosaicOthersCement Rs Mn 4.6% 51.2% 22.5% 19.7% 0.9%

4 4 Product wise Performance Vitrified Tiles 2.5% 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 FY08 to Rs 545 per sq mt in FY09 Launched more than 30 new products during FY09 2.7% Ceramic Tiles 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 FY08 to Rs 356 per sq mt in FY09 Launched more than 15 new products during the year with major launches being Naturoc and a wide range of wall tiles

5 5 Product wise Performance Marble 6.1% 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 FY08 to Rs 246 per sq ft in FY09. Gross Sales of cement up by 28.7% from Rs 297.2mn in FY08 to Rs 382.4mn in FY09 Cement imports from Pakistan in FY09 was discontinued in the wake of 26/11 attacks Cement 28.7%

6 6 Along with increased emphasis on retail clients Client mix Favorably shifted retail – institutional sales mix from 40:60 in FY08 to 60:40 in FY09. 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 FY09. Plans to establish 400 Franchise LE Studio Express stores to further strengthen the retail sales in next 3 years. FY08 FY09 Retail, 40% Retail, 60% Institutional, 40% Institutional, 60%

7 7 New product launches with capacity expansion to drive future growth 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 New Product Launches

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

9 9 Financial Statements – Ratio Analysis Key RatiosFY'08FY'09 EBITDA Margin13.6%11.3% Net Margin8.0%3.7% Total Expenditure/ Net Sales87.0%88.7% Consumption of Raw material/ Net Sales56.6%58.1% Staff Cost/ Net Sales4.1%4.4% Selling & Distribution Exp/ Net Sales17.8%17.5% Other Expenditure/ Net Sales4.2%4.5%

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

11 11 About Nitco Ltd Nitco Ltd. (Nitco) is a complete flooring solutions provider. The companys 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 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 companys 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 12 Contact Us For any Investor Relations queries please contact: Jogendra Sethi Nitco Ltd Email: Tel. No. +91-22-66164555

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