repro india limited marketing presentation
TRANSCRIPT
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Value Added Print Solutions
Repro India Limited
November 2005
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For Risk Factors and Other Details Please Refer to Red Herring Prospectus3
Total Issue 26,20,000 Equity Shares of Rs. 10/- each. The Issue
would constitute 25 % of the Fully Diluted post issue
paid-up capital of the Company.
QIB portion 13,10,000 Shares constituting 50% of the Net Issue
Non-Institutional Portion 3,93,000 Shares constituting 15% of the Net Issue
Retail Portion 9,17,000 Shares constituting 35% of the Net Issue
Shares o/s after the Issue 1,04,79,112 Equity Shares
Book Running Lead Manager Enam Financial Consultants Pvt. Ltd.
Listing on Bombay Stock Exchange Limited & the National
Stock Exchange
Issue Timing November 28 December 01, 2005
Price Band Rs. 145 Rs 165
Issue Size Rs. 38.0 cr Rs. 43.2 cr
Issue Summary
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Proposed IPO
IPO size :Fresh Issuance : 26,20,000 shares
QIBs 50%
Non-Institutional 15% Retail 35%(All Categories on Proportionate Basis)
Total Equity shares post issue: 1,04,79,112
I
ssuesummar
y
Capex for Enhancementof Existing Facility
(Rs. 18.4 cr)
Setting up New Facilityat Navi MumbaiSpecial Economic Zone
(Rs. 14.5 cr)
Setting up ofInfrastructure for CPO
(Rs. 3.5 cr)
+
+
Promoter
73.2%
Public
25.0%
Others
1.8%
+
Meeting WorkingCapital Requirement
(Rs. 10.0 cr)
+
Meeting GeneralCorporate Purpose and
Issue Expenses
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1. Repro A Snapshot
2. Repros Business and Profile
3. International Outsourcing Opportunity
4. Summary
Contents
For Risk Factors & Other Details Please refer Red Herring Prospectus
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Summary Repro a Value Added Print Solution provider for domestic and international
markets
Known for high quality, customised design and print solutions
Expanded services to content creation, product redesign, creative finishing
and logistic fulfillment
Having established leading domestic presence, now poised to address largeinternational outsourcing opportunities
Learnings from the domestic market, key customer relationships and
management team in place. Exports already at 35% of total turnover in 2 yrs
Expanding capacity and capabilities to meet growth requirements
Repro A Snapshot
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Repros Business and Profile
Repro India Limited
For Risk Factors & Other Details Please refer Red Herring Prospectus
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The Indian Print Industry
Indian Printing Industry estimated at US$ 11 bn. has grown at 14%CAGR over last 25 years
Highly fragmented, with low entry barriers at the lower end
Few printers have moved up the value chain
Large opportunity for large integrated domestic printers
Increasing literacy and per capita income driving domesticdemand
Repros Business and Profile
Repro one of Indias most Integrated Print Solutions Provider
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Content & Print Solutions
QC CheckWarehousing &Inventory Mgt
Order ProcessingRepeatBusiness
Despatch
Understanding
The Need+
current productionprocess
+
Future PrintRequirement
Delivering the Solution
ProductStandardisationCreate Formats
+
Cost Economies+Time to Market
+Quality
Create
Content
Write+
Illustrate
+DTP+
Processing
Manufacturing
Create Master+
Storage+
Archival+
Mass Produce
Repros Business and Profile
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Feeding &Formatting Text
Format Modifications
Size Modifications
Illustrations
Sourcing Images
Photoshop Clipping
Re-Design 1 to 4 Colour
Concept Character Development
Copy Writing
Design
DTP Layouting Enhancement Design
Content
Development
Content Design and Services
Repros Business and Profile
Content Creation : from concept to final product
Content Enhancement : from manuscript to final product
Content Conversion : from book to CD and web
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Some of our work
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Some of our work
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Some of our Domestic Customers
Repros Business and Profile
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Our Value Proposition
Relationship not Transaction based strong customer relationships by offering :
Quality enhancement, Standardisation of product & process, Cost economies,
Time to market
Complete range of print services to provide a one stop shop
Range of value added services helping us deepen relationships
Develop products to meet customers requirements - based on concept, targetmarket, price specifications
Value engineering to reduce costs / enhance appeal
Enhance product lifecycle - recreation of existing libraries of publishers through
design, layout, content value additionsParticipation in new initiatives by publishers providing mindshare with top
management
Ability to offer fulfillment further help customers needing post print services
Repros Business and Profile
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Management Team
Board of Directors
Vinod Vohra (Chairman)Sanjeev Vohra (MD)
Mukesh Dhruve (CFO)
Dushyant Mehta
Rajeev Vohra
Non Executive Directors
Alyque Padamsee
Dr. J. J. Irani
Nasser Munjee
Sanjay Asher
U. R. Bhat
Shekhar Bangera (Sr.Vice President) Marketing
Srihari Raghavan (Sr.Vice President) IT & Intl BusinessSharath Kumar (Vice President) Marketing (USA)
Kunjli Majmudar (Vice President) Marketing (UK)
Dinesh Surekha (Vice President) Finance and AccountsNimisha Dalal (Vice President) MIS
K Venkatraman (Company Secretary) Corporate
Trishita Vora Corporate Planning
Repros Business and Profile
Sonia Mehta Creative DirectorCol. Mehta Director Supply Chain Operations
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Our Human Capital
Repros Business and Profile
Young recruitsfrom
management,technicaland printinstitutes
Over 440people withan equitablemix of Blueand White
collar
Development ofmembers with focuson
work culture interpersonal
skills
marketing skills
technical skills
Structuring intoCustomer SupportTeams
Shared Vision
OwnershipConcept
Low attritionrates
TRAININGFORMAL & INFORMALRECRUITMENT HRD INITIATIVES
Growth intomanageriallevels
Single BulletResponsibility
DEFINEDGROWTH PATH
Invested in human capital ahead of requirements as a growth enabler
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The International Outsourcing Opportunity
Repro India Limited
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Global publishing houses outsourcing printing requirements to lower costdestinations globally, with technology permitting offshoring
US offsite printing to grow to ~$25bn by 2009 (source: Cap Ventures) Process Outsourcing expected to grow at 15% CAGR to $2bn by 2009
EU Offsite printing currently at 15 bn (source: Infotrend), expected to grow faster than US
Developing countries also offering large opportunity
World Bank funded education projects in the African continent
Most global publishers present, limited local production capacity
The International Outsourcing Opportunity
Print Outsourcing on the Upswing Globally
A large opportunity for Indian Print Service Providers!
Indian design and creative talent and low cost labour key strengths
Domain & English language knowledge driving content outsourcing
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Greater Spend on Non Print Services
Publishers spending more on pre print services concept, design, creation to differentiate and meet customer requirements
Outsourcing on the upswing from traditional print services to such valueadded services and even logistics and archiving
Print Industry Trends
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Printers realigning business models
Highly fragmented business globally, most players operate at the lowest end
of the value chain as spec and bid printers
Print Industry Trends
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Our Growing International Presence
Own offices and participation in international book fairs hashelped build up our export business
Own offices in UK, US and Africa
Also helped by references from Indian subsidiaries of largeglobal publishing houses
The International Outsourcing Opportunity
0
200
400
600
800
1000
FY 2003 FY 2004 FY 2005 HY1 06Am
ountinRs.
Mn
0
10
20
30
40
exp
ortsasa%t
ototal
sales
Sales Exports (%)
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Some of our International Customers
The International Outsourcing Opportunity
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Financials
Repro India Limited
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20.027.610.7--Exports
33.559.070.871.760.9India
2114121718OPM (%)
5.04.53.64.63.2PAT
7.66.04.96.44.7PBT
11.112.19.811.911.0EBITDA
53.586.681.571.760.9Sales
H1FY2006FY 2005FY 2004FY 2003FY 2002Rs Cr
Financial Overview
FY 2003 : Realised growth / profitability constraints of domestic markets
FY 2004 : Invested in creating international presence, reflected in temporary dip in profits
FY 2005 : Demonstrated exports scalability
Current year: Benefits of changing business mix visible
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Financial Overview
27*14131813RONW (%)
* annualised
23*12101715ROCE (%)
77.972.663.953.354.4Capital Employed
41.341.035.928.028.8Debt
36.631.628.025.325.6Net Worth
H1FY2006FY 2005FY 2004FY 2003FY 2002Rs Cr
Improving asset turn ratios due to business mix change
High financial leverage and export opportunity limited ability to serve domestic market
Infusion of growth capital to enhance capacity to meet large addressable opportunities
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Summary
Repro India Limited
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Summary
A leading domestic printer, poised to address large international
outsourcing opportunities
Management team and processes in place
Customer relationships established, scaling imminent
Robust financials facilitating growth initiatives
Repro India Ltd
Proof of concept demonstrated,Now scaling up to address the opportunity
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THANK YOU