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Investor Update Nitco Tiles Ltd July – September 2007 October 24, 2007.

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Presentation on theme: "Investor Update Nitco Tiles Ltd July – September 2007 October 24, 2007."— Presentation transcript:

1 Investor Update Nitco Tiles Ltd July – September 2007 October 24, 2007

2 Index 1. Financial Review 2. Product Wise Performance 3. Operational Highlights 4. Financial Statements

3 Strong growth across key financial parameters
Performance Review Q2 FY’08 Vs. Q2 FY’07 49% 45% 26% Net Sales EBITDA PAT Net Sales up 45% from Rs 971.2mn to Rs 1,409mn driven by strong growth across key product segment: Ceramic tiles up 24.7% to Rs 355.7mn Vitrified tiles up 35.9% to Rs 785.3mn Mosaic tiles up 10.3% to Rs 28.7mn Marble up 83.5% to Rs 384.3mn EBITDA up 26% from Rs 171.9mn to Rs 216.5mn, while EBITDA margin dropped from 17.7% to 15.3% due to: Higher level of Institutional sales in the vitrified segment to capture higher market share, and increase in freight for vitrified tiles from China. This resulted in increase in raw material cost as % of net sales increased from 54.7% to 62.6% PAT up 49% from Rs 89.9mn to Rs 134.1mn resulting in increase in Net Profit Margin from 9.26% to 9.52%

4 Driven by growth across product categories
Vitrified Mosaic 35.9% 10.3% Figures in Rs Mn Ceramic Marble 24.7% 83.5%

5 With a diversified product mix
Q2 FY’07 Q2 FY’08 Derisked business model through focus on all major categories of flooring

6 Significant new initiatives to drive future growth
Increasing capacity to capture growth in the market Increasing capacity of ceramic tile plant at Alibaug by sq. mtr. per day, which would be effective from April, 2008. The Company has received marble license of 15,895 tons, which accounts for 11% of the total licenses issued. It is setting up state of the art plant for processing imported marble at Silvassa, which will go on stream in the second quarter Expanding retail reach and new product launches to consolidate market position Implementing its plan to create unique display spaces “Le studio Nitco” to showcase the products. Already launched 8 stores in Mumbai, Nasik, Ahmedabad, Cochin, Coimbatore, Kolkata and Goa. The company has launched six new products both in ceramic and vitrified tiles. Real Estate Venture taking off The real estate activities of the group have been consolidated into a 100% subsidiary - Nitco Realties Pvt. Ltd post the approval by the Hon High Court. It is now in the process of implementing 8 residential/commercial projects in Mumbai and Alibaug with the first residential project at Worli, Mumbai now in the initial stages of construction. Other highlights Board of directors have declared 20% dividend for FY ended March 07 subject to the approval of shareholders at the Annual General Body Meeting.

7 Financial Statements – Income Statement
In Rs Mn Particulars Q2FY’07 Q2FY’08 % Chg YoY Net sales 971.20 1,408.97 45.07% Other Income 1.92 7.34 282.8% Total Income 973.12 1,416.31 45.54% Total Expenditure 801.22 1,199.78 49.74% Purchase of Raw Material 653.59 1,009.93 54.52% Increase/decrease in stock in trade (122.27) (128.20) 4.86% Power & Fuel 58.35 54.95 -5.83% Staff Cost 41.60 64.60 55.28% Selling, Distribution & Administration expenses 106.44 132.34 24.34% Other Expenditure 63.51 66.17 4.18% EBITDA 171.90 216.53 25.96% Depreciation & Amortization 24.89 26.94 8.24% EBIT 145.09 182.25 25.61% Finance Charges 18.41 36.53 98.48% EBT 126.68 145.72 15.02% Tax (including deferred) 37.64 17.14 -54.47% FBT 1.07 1.80 67.91% PAT 89.89 134.12 49.21% Basic EPS (Rs.) 4.04 5.16 27.93% Notes: 1. Power & Fuel figures are after netting of power generated through wind mill of Rs 18.93mn and Rs.36.70mn for the quarter ended September 30,2007 and six months ended September respectively. Corresponding quarter in Previous Year - Rs.21.43mn, for the half year ended - Rs.37.03mn & for the year ended March 31, Rs.44.21mn) 2. Interest & Other Financial charges are net of Forex gains of Rs.6.82mn and Rs.38.91mn for the quarter ended September 30,2007 and six months ended September respectively. (Corresponding quarter in Previous Year - Forex Gain Rs.2.39mn, for the half year ended - Forex Loss Rs.10.94mn & for the year ended March 31, Forex Gain Rs.27.97mn) 3. Out of the issue proceeds of Rs. 1680mn, the Company has utilised Rs mn towards Objects of the issue and pending utilisation, balance funds as at September 30, 2007 have been invested in term/fixed deposits with Banks.

8 Financial Statements – Ratio Analysis
Key Ratios Q2FY’07 Q2FY’08 EBITDA Margin 17.7% 15.3% Net Margin 9.3% 9.5% Total Expenditure/ Net Sales 82.5% 85.2% Consumption of Raw material/ Net Sales 54.7% 62.6% Staff Cost/Revenues/ Net Sales 4.3% 4.6% Selling & Distribution expenses/ Net Sales 10.9% 9.4%

9 Forward Looking Statement
About Nitco Tiles Ltd Nitco Tiles Ltd. (Nitco) is a complete flooring solution provider. The company 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 Hiranandanis’, Rahejas’, Pantaloon Retail, Godrej Properties, Oberoi Construction, Keystone, Piramals’, 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 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.

10 Contact Us For any Investor Relations queries please contact:
Jogendra Sethi Nitco Tiles Ltd Tel. No

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