3 Performance Review Q3 FY09 Vs. Q3 FY08 Revenue Growth: 5.3% Net Revenues up 5.3% to Rs 1,517.4mn Product-wise Sales Mix Q3 FY08Q3 FY09 1.4% 21.9% 20.3% 54.0% 18.1% 22.7% 53.6% 5.6% 2.5% Net Sales up 5.3% from Rs 1,441.7mn to Rs 1,517.4mn driven by growth across key product segments: Vitrified tiles up 4.5% to Rs 812.9mn Ceramic tiles up 17.6% to Rs 343.7mn Marble down 13.0% to Rs 274.0mn Cement sales up 135.0% to Rs 85.7mn EBITDA down 15.2% from Rs 220.0mn to Rs 186.6mn. Overall EBITDA margins declined from 15.3% in Q3 FY08 to 12.3% in Q3 FY09 due to substantial increase in material costs which could not be fully passed on to the customers EBITDA margins in the Tiles business declined from 15.6% in Q3 FY08 to 12.9% in Q3 FY09 and that for Cement business from 2.3% to 1.7% during the same period PAT down 46.8% from Rs 132.0mn to Rs 70.3mn Interest and other financial charges were up by 17.5% to Rs 37.8mn from Rs 32.1mn due to increase in interest rate by all the banks Forex loss of Rs 2.8mn in Q3 FY09 as against forex gain of Rs 9.9mn in Q3 FY08. The loss was on account of restatement of foreign currency exposure at the exchange rate prevailing as on 31 st Dec, 2008 of 1USD = Rs (Corresponding as on 31 st Dec, 2007 was 1USD = Rs ) Financial Review: Quarterly VitrifiedCeramic Marble MosaicOthersCement 0.1% Rs Mn
4 Performance Review 9M FY09 Vs. 9M FY08 Revenue Growth: 15.7% Net Revenues up 15.7% to Rs 4,648.0mn Product-wise Sales Mix Net Sales up 15.7% from Rs 4,015.6mn to Rs 4,648.0mn: Vitrified tiles up 13.3% to Rs 2,459.0mn Ceramic tiles up 11.4% to Rs 978.1mn Marble down 2% to Rs 821.2mn Cement sales up 901.4% to Rs 364.9mn EBITDA up 3.8% from Rs 606.9mn to Rs 630.3mn Overall EBITDA margins declined from 15.1% in 9M FY08 to 13.6% in 9M FY09 due to increase in raw material cost EBITDA margins in the Tiles business declined from 15.2% in 9M FY08 to 14.4% in 9M FY09 and that for Cement business increased from 2.3% to 3.4% during the same period PAT down by 34.1% from Rs 377.1mn to Rs mn Due to higher provision for tax (up 56.3% to Rs 118.9mn in 9M FY09 as compared to Rs 76.1mn in 9M FY08) Forex loss was Rs 55.4mn in 9M FY09 as against forex gain of Rs 48.9mn in 9M FY08 1.9% 54.0% 21.9% 20.9% 0.9% 9M FY089M FY09 0.5% 7.9% 21.0% 17.7% 52.9% Financial Review: Nine Months ended 31 Dec, 2008 VitrifiedCeramic Marble MosaicOthersCement Rs Mn 0.4%
5 Product wise sales performance at gross & net level Product-wise Gross Sales Product-wise Net Sales Note: Product-wise sales break up excludes other income
6 Financial Statements – Income Statement (In Rs Mn) Notes: 1)Power & Fuel figures are after netting of power generated through wind mill of Rs 2.67mn and Rs.39.75mn for the quarter and nine months ended December 31, 2008 respectively (For corresponding periods in FY08: Q3 - Rs.2.54mn & 9M ended December 31, Rs.39.25mn) 2)Due to the depreciation of the rupee, the forex loss was Rs 2.8mn and 55.4mn for the quarter & nine months ended December 31, 2008 respectively as against forex gain of Rs 9.9mn and 48.9mn in the corresponding periods of FY08
7 Financial Statements – Ratio Analysis
8 Shareholding Structure as on 31 st Dec 2008 No. of shares outstanding: 32.12mn
9 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 550 direct dealers and over 5,000 retail outlets spread over India. The key institutional clients include Hiranandani, Raheja, Pantaloon Retail, Godrej Properties, Oberoi Construction, Keystone, Piramal, Nirmal Lifestyle, 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.
10 Contact Us For any Investor Relations queries please contact: Jogendra Sethi Nitco Ltd Tel. No