New Delhi, 26th July 2021: Orient Bell Limited (BSE: 530365; NSE: ORIENTBELL), hereinafter referred to as OBL, a leading manufacturer of ceramic and vitrified tiles with a capacity of ~30 million square meters per annum, has reported results for quarter ended June 30, 2021.
Q1FY22 Key Financial Highlights:
✓ Topline growth +103% y-o-y in Q1FY22 led by New Products, Channel Expansion, Displays & Digital tools.
✓ Lockdowns impacted volumes & profitability during Q1FY22. However, ASP increased by 6% y-o-y and sequentially by 2% supporting sustenance of gross margin despite increase in gas costs.
✓ Cash Fixed Costs optimized sequentially too – however the larger medium to long term goals for Manufacturing, Marketing & People remain uncompromised.
✓ Net debt below ZERO at Rs (-) 11.6 crore as on 30th June 2021.
Consolidated Financial highlights:
Operational highlights Q1FY22:
✓ 8 Orientbell Tile Boutiques (OBTBs) net added
during Q1FY22 ; total number of active OBTB’s
as on 30-June-21 increased to 238.
✓ 1st Runner-Up: Best Innovative Kaizen
in Quality (Manufacturing_Large)
✓ Our CHRO Awarded by World HRD
Congress as “HR Super Achiever”
✓ Revenue from vitrified tiles improved to 43%
vs. 40% LQ.
✓ More than ~135 SKUs launched QTDFY22
across existing & New Product categories.
✓ Consumers today spend more time on
their mobiles than on TV. Our brandbuilding
approach is to meet
consumers where they are with
content that they can engage with.
Orientbell Tiles invests to add
Capacity of 0.7 MSM at Sikandrabad GVT plant.
OBL’s Board has approved adding capacity at an existing GVT tile plant at Sikandrabad (Bulandshahar district, UP). The current capacity of this GVT tile plant is 3.3 MSM p.a. and post the completion of the capex, the capacity will increase to 4.0 MSM p.a.
The debottlenecking project will involve a capex of under Rs. 11 Crores and the process will be completed by Q1FY23.
“This is the 3rd growth capex initiative that we have agreed for in the last 9 months”.
With this, the overall capacity of our own manufacturing facility at Sikandarbad would increase by 2.4 MSM p.a. by early FY23 vs. what we had in Q2FY21.
The debottlenecking project is not only capital efficient but also allows us to participate in the demand growth that we continue to witness in North and East India.
We continue to stay cash positive, and this project will also be funded via internal accruals. Aditya Gupta, CEO, Orientbell Tiles commented on the occasion.
About Orient Bell Ltd: Orientbell Tiles is a leading brand and manufacturer of ceramic & vitrified tiles with over 4 decades of serving customers across India. The company has an annual capacity of 30 mn. sq. meters, distributed across 3 plants, Sikandrabad, Hoskote and Dora and 2 trading JVs in Morbi. The company is ISO 9001, ISO 14001 and OHSAS 1800 certified with Zero Waste facilities. With over 3,000+ designs and having a strong distribution channel of 2000+ channel partners, the company has a growing presence across major markets in India.
For more details please visit: www.orientbell.com
Safe Harbor: Certain statements made in the document may be forward-looking statements. Such forward- looking statements are subject to certain risks and uncertainties like government actions, economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Orient Bell Ltd will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
For further information, please contact:
Orient Bell Limited
Mr. Himanshu Jindal – CFO
Mr. Ashish Kapur – AGM Treasury,
Investor Relations & Corporate Finance
Ms. Pooja Dokania - Co Founder & CEO
Mr. Rishav Das