Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — Q2 FY25 Earnings Presentation
37 slides from Mrs. Bector's Food Specialities's earnings presentation, Nov 8, 2024
Slide 1: Exchange filing cover letter: Investor's Presentation
MBFSL/CS/2024-25 8th November, 2024 To, To, Department of Corporate Relations, National Stock Exchange of India Ltd, BSE Limited, Exchange Plaza, C- 1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai – 400001 Mumbai– 400051 Scrip Code: 543253 Scrip Symbo
Slide 2: The Magic of Baking - Investor Presentation Q2FY25
THE MAGIC OF BAKING INVESTOR PRESENTATION | Q2FY25
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Mrs. Bectors Food Specialities Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or i
Slide 4: Supportive Macro Drivers
Supportive Macro Drivers India’s growth story continues amidst global slowdown. However, inflation is kicking back. India’s Real GDP Growth CPI Inflation 7.9 6.0 5.7 5.5 7.0 5.5 6.8 5.1 5.1 5.1 6.5 5.0 4.9 4.8 4.8 4.5 4.0 3.7 3.6 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 FY18 FY19 FY23 FY24 Dec-23 Jan-24 Feb-
Slide 5: India's Consumption Story
India’s Consumption Story Global consumption market - India remains one of India's consumption growth (in nominal terms) the key consumer markets in the world outpaced China, US and Germany (in US$ terms) 20 18.6 8 2013 2023 7.2 7.1 Last 10-yr CAGR (2023) 7 6 15 5.0 5 11.4 4 10 3 2 6.9 1.0 1 5 0 3.5
Slide 6: Mrs Bector Foods: At a Glance
Mrs Bector Foods: At a Glance I feel blessed and express my gratitude to the Central government for recognising my services. I am feeling honoured and want to thank my family, children, and staff. This is a very proud moment for me and for all at Bectors. I would like to dedicate this award to all w
Slide 7: Large & Diverse Portfolio
Large & Diverse Portfolio DOMESTIC BISCUITS BAKERY Domestic Range Of Cookies, Creams, Digestives, Marie And Crackers Breads, Bakery & Gourmet EXPORTS QSR + B2B Exports Range Of Crackers, Cookies, and Creams Largest and the Most Trusted QSR players The brand names mentioned are the property of their
Slide 8: Performance Update
}}} Performance Update
Slide 9: Consolidated Performance Scorecard – Q2 FY25
Consolidated Performance Scorecard – Q2 FY25 Net Revenue EBITDA % PAT Rs 496.3 Crs Rs. 70.5 Crs Rs 38.9 Crs Q2 FY25 Q2 FY25 Q2 FY25 +19.7% 9.0% 4.4% 12 Months Growth 12 Months Growth 12 Months Growth +42.9% +58.6% +77.7% 24 Months Growth 24 Months Growth 24 Months Growth 8
Slide 10: Consolidated Performance Scorecard – H1 FY25
Consolidated Performance Scorecard – H1 FY25 Net Revenue EBITDA % PAT Rs 935.7 Crs Rs. 134.5 Crs Rs 74.4 Crs H1 FY25 H1 FY25 H1 FY25 +18.6% 9.7% 3.1% 12 Months Growth 12 Months Growth 12 Months Growth +44.4% +77.6% +114.6% 24 Months Growth 24 Months Growth 24 Months Growth 9
Slide 11: Consolidated Q2 FY25 Performance Highlights
Consolidated Q2 FY25 Performance Highlights (YoY and 24 months comparison) Revenue from Operations* Segment Wise Revenues (Rs. Crs.) 496 Biscuit Segment Bakery Segment 415 +20% 320 167 347 +24% 140 +19% 259 125 206 Q2FY23 Q2FY24 Q2FY25 Q2FY23 Q2FY24 Q2FY25 Q2FY23 Q2FY24 Q2FY25 Biscuit segment revenu
Slide 12: Consolidated Profit & Loss Statement – Q2 FY25
Consolidated Profit & Loss Statement – Q2 FY25 Profit & Loss Statement (Rs. Crs.) Q2 FY25 Q2 FY24 Y-o-Y Q1 FY25 Q-o-Q H1 FY25 H1 FY24 Y-o-Y Revenue from Operations 496.3 414.5 19.7% 439.4 12.9% 935.7 788.7 18.6% Cost of Materials Consumed 262.6 217.7 235.2 497.9 417.1 Purchase of stock-in-trade 8.9
Slide 13: Consolidated Balance Sheet as on 30th Sep 2024
Consolidated Balance Sheet as on 30th Sep 2024 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-24 31-Mar-24 ASSETS (Rs. Crs.) 30-Sep-24 31-Mar-24 Equity Non-current assets Equity share capital 61.4 58.8 Property, plant and equipment 547.8 491.6 Other equity 1,054.1 604.1 Right-of-use assets 46.4 31.9 Total
Slide 14: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sep-24 Sep-23 Cash Flow from Operating Activities Profit before Tax 100 96.7 Adjustment for Non-Operating Items 39.8 29.7 Operating Profit before Working Capital Changes 139.9 126.4 Changes in Working Capital -50.7 -22.2 Cash Generated
Slide 15: Outlook & Approach
}}} Outlook & Approach
Slide 16: Immense Industry Potential in the Biscuit Market
Immense Industry Potential in the Biscuit Market Growth in Biscuit Market (Rs. Bn.) Low per capita spending on biscuits 13.6 “Per capita consumption of biscuits in India +9% 620 has significantly increased 10.0 +10% in the last 5 years 400 7.2 However, it still lags developed economies 250 590 4.0 s
Slide 17: Growth Potential in Bread & Bakery Business
Growth Potential in Bread & Bakery Business Indian Breads & Buns Market (Rs. Bn.) Chain QSR Market (Rs. Bn.) The size of the Indian Bread Market was Rs. 50 bn in FY20, of which premium category currently has a share of ~16% and is projected to grow at a rate of 15% for the next 5 +9% 76 524 years +2
Slide 18: Our Approach
Our Approach Growth Augmenting Distribution (B2C and B2B) Strategy Robust Supply Chain & Manufacturing • Omni Channel Approach – Available on all touch points – Retail, MT, Ecommerce • Automation from front-end to back-end to enable real time analysis and decision making • Cremica Preferred Outlets
Slide 19: Performance Scorecard – FY24
Consolidated Performance Scorecard – FY24 Existing Geographies Strong Multi Channel Distribution Network* New Geographies States with supplies to CSD Depot 16 Depots 490+ Super 4,000+ CPOs 1250+ 7L+ Retail 3L+ Direct Stockists Distributers outlets Reach Among Top 2 in the premium and Omni-Channel pr
Slide 20: Cremica Brand footprint in 65+ Countries
Cremica Brand footprint in 65+ Countries Association with Walmart - Part of Walmart's commitment to source $10 bn in goods from India TRUST QUALITY COMMITMENT Bouquet of unique international offerings 70+ Dedicated subsidiary setup in the UAE to cater to MENA and African markets; Overall number of p
Slide 21: Preferred Supplier to Largest QSR Franchises in India
Preferred Supplier to Largest QSR Franchises in India Company is a leading player in the institutional bakery segment Key Success Factors Stringent quality control and Dedicated lines for manufacturing Industry best practices such as use of Innovative lines for manufacturing compliance with standard
Slide 22: Brand Visibility across Key Segments
Brand Visibility across Key Segments “School Shuru Cremica Bourbon “No Means No” Campaign with No Maida, Activations / Samplings & Out of Home Shuru” No Palm Oil Range of Breads Visibility 21
Slide 23: New Introductions and Consumer Promotions
New Introductions and Consumer Promotions Region Specific Campaign ~ Punjab Re-purposing the Health Range ~ ZERO Tactical Pricing Action continues MAIDA & ZERO PALM OIL New Launch New Look Packaging Zero Maida Bread Continues 22
Slide 24: Automated state of art manufacturing units
Automated state of art manufacturing units o Equipped with advanced modern technology and automated systems o Invested Rs. 469+ crores between FY20 to FY24 to build capacities with superior capabilities o Sourced best in class equipment from Denmark, Germany, US and Italy o Plants are equipped with
Slide 25: Expansion Projects
Expansion Projects Additions in Rajpura (Punjab) o 2 Biscuit lines have been commissioned in Rajpura in FY23-24 o 2 more lines have been commissioned 01 in Rajpura in H1’24-25 Addition in Bakery Business o Bhiwadi plant has been commissioned in FY23-24 02 o The company will be setting up a Biscuit L
Slide 26: Future Ready Production | Capacity Utilization
Future Ready Production | Capacity Utilization Biscuits Bakery (Metric Tonnes) (Metric Tonnes) Tahliwal, Himachal Current Capacity 1,48,344 94,984 Phillaur, Punjab Rajpura, Punjab Greater Noida, UP Additional Planned 38,760 24,741 Bhiwadi, Rajasthan Total 1,87,104 1,19,725 Dhar, MP Kolkata, West Ben
Slide 27: Project Impact 1.0 (Initiatives For Mrs. Bectors' Cost Transformation)
Project Impact 1.0 (Initiatives For Mrs. Bectors' Cost Transformation) We have launched Project IMPACT 1.0, embarking on a cost transformation journey that began in Q1 FY25 and will continue Key Enablers Procurement & Packaging Logistics • Strategic sourcing for raw materials Commercial • Optimizing
Slide 28: 'Goodness Together' - Building Communities around us
‘Goodness Together’ - Building Communities around us Under “Goodness Together”, we continuously look for every opportunity to develop the community around us School Infrastructure 90+ Mobile Health Camps Hospital Infra Development Women’s Health & Hygiene Facility for Technical Skills Development Po
Slide 29: Historical Financials
}}} Historical Financials
Slide 30: Segment Performance Highlights
Consolidated Segment Performance Highlights Revenue from Operations* Segment Wise Revenues (Rs. Crs.) 1,624 Biscuit Segment Bakery Segment 991 572 +19% 1,362 +23% +17% 487 807 988 881 574 592 339 259 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Biscuit Segment includes Domestic, Expor
Slide 31: Performance Highlights
Consolidated Performance Highlights Revenue (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,624 242 140 1,362 175 988 90 881 141 123 72 57 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Gross Profit Margins EBITDA Margins PAT Margins 47.6% 46.7% 16.0% 8.2% 8.6% 44.2% 44.6% 14.9% 12.4% 12.
Slide 32: Performance Highlights
Consolidated Performance Highlights Net Debt to Equity Working Capital (in Days) Inventory Debtors Creditors 0.2 Working Capital (in Days) 0.1 0.1 0.1 30 42 25 29 52 Mar-21 Mar-22 Mar-23 Mar-24 45 45 44 45 38 39 38 Cash Flow from Operations (Rs. Crs.) 30 30 28 164 153 24 110 84 FY21 FY22 FY23 FY24 M
Slide 33: Profit & Loss Statement
Consolidated Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY24 FY23 FY22 FY21 Revenue from Operations 1,623.9 1,362.1 988.2 880.7 Cost of Materials Consumed 833.6 737.7 536.0 467.8 Purchase of stock-in-trade 40.6 23.8 15.6 0.6 Changes in Inventories of Finished Goods and Work in Progre
Slide 34: Historical Balance Sheet
Consolidated Historical Balance Sheet EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Equity Equity share capital 58.8 58.8 58.8 58.7 Other equity 604.1 485.5 410.2 372.5 Total equity 662.9 544.3 469.0 431.2 Non-current liabilities Financial liabilities (i) Borrowings 149.0
Slide 35: Historical Balance Sheet
Consolidated Historical Balance Sheet ASSETS (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Non-current assets Property, plant and equipment 491.6 407.6 391.4 339.7 Capital work-in-progress 94.4 48.7 11.9 55.3 Right-of-use assets 31.9 18.2 19.2 14.2 Goodwill 0.4 0.4 0.4 0.4 Other intangible asse
Slide 36: Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Cash Flow from Operating Activities Profit before Tax 188.3 120.7 75.7 97.1 Adjustment for Non-Operating Items 61.4 61.3 46.5 47.4 Operating Profit before Working Capital Changes 249.7 182.0 122.2 144.5 Chang
Slide 37: Company contacts
Company CIN: L74899PB1995PLC033417 Company Mr. Parth Patel Mr. Irfan Raeen +91 98197 85972 parth.patel@linkintime.co.in +91 97737 78669 irfan.raeen@linkintime.co.in parth.patel@linkintime.co.in irfan.raeen@linkintime.co.in
Mrs. Bectors Food Specialities — Q2 FY25 Earnings Presentation on 6ix