Bikaji Foods International Ltd. · NSE:BIKAJI
Bikaji Foods International — Q4 FY24 Earnings Presentation
29 slides from Bikaji Foods International's earnings presentation, May 23, 2024
Slide 1: Stock exchange filing cover letter
BIKAJI FOODS INTERNATIONAL LIMITED F 196-199, F 178 & E 188, Bichhwal Industrial Area, Bikaner, Rajasthan, India – 334006 T: +91-151-2250350 | F: +91-151-2251814 | E: cs@bikaji.com | W: www.bikaji.com CIN: L15499RJ1995PLC010856 | GST No.: 08AAICS1030P1Z5 Ref: BFIL/SEC/2024-25/15 Date: May 24, 2024 T
Slide 2: Q4 & FY24 Earnings Presentation
BIKAJI FOODS INTERNATIONAL LIMITED Q4 & FY24 EARNINGS PRESENTATION May 23rd, 2024
Slide 3: Table of Contents
TABLE OF CONTENTS FINANCIAL HIGHLIGHTS 4 MANUFACTURING FACILITIES 6 PAN INDIA DISTRIBUTION 7 MARKETING INITIATIVES 8 BUSINESS PERFORMANCE 12 KEY QUARTERLY HIGHLIGHTS/ 23 COMMENTARY SENSITIVITY IN KEY MATERIAL CATEGORIES 24 CONSOLIDATED FINANCIAL PERFORMANCE 25 STOCK PERFORMANCE 26 PLI UPDATE 27
Slide 4: Disclaimer
DISCLAIMER This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of Bikaji Foods International Ltd., its outlook and growth prospects. The actual results may differ materially from these forward-looking statements
Slide 5: Q4FY24 Key Financial Highlights
Q4FY24 KEY FINANCIAL HIGHLIGHTS Strong Quarter Performance with 43.2% Gross Margin & 26.2% EBIDTA Margin 33% 161% 201% Revenue from operations EBITDA PAT INR 6,144 mn INR 1,612 mn INR 1,163 mn 14.3% underlying volume growth 43.1% 26.2% Gross margin at EBITDA Margin at (up 900 bps YoY) (up 1,300 bps
Slide 6: FY24 Key Financial Highlights
FY24 KEY FINANCIAL HIGHLIGHTS Strong Yearly Performance with 35.2% Gross Margin & 16.8% EBIDTA Margin 18% 84% 94% 22% & 31% Revenue from Operations EBITDA PAT ROE & ROCE INR 23,293 mn INR 3,913 mn INR 2,635 mn (up 834 bps & 1,133 bps YoY) 15.3% underlying volume growth 35.2% 16.8% 11.3% 20 Days Gros
Slide 7: Manufacturing Facilities
MANUFACTURING FACILITIES Category wise Installed Capacity Manufacturing facilities Installed Capacity as on 31st March 2024 Easy access Located in core market - reduced to cow milk, Capacity dew bean logistic costs & Category build sales in (in metric tones) (moth dal) & western snacks moong dal Bhu
Slide 8: Pan India Distribution
PAN INDIA DISTRIBUTION Direct Coverage (No. of Outlets) 3,00,000 2,51,270 2,50,000 2,31,775 Delhi / NCR 2,08,805 Ghaziabad 2,00,000 1,62,332 Varanasi 1,49,245 Ahmedabad 1,50,000 Raipur 1,00,000 71,884 Pune 50,000 Core - Focused Mar-22 Mar-23 Jun-23 Sep-23 Dec-23 Mar-24 Others Focus on increasing dir
Slide 9: Marketing Initiatives
MARKETING INITIATIVES
Slide 10: ATL Marketing Activities
ATL MARKETING ACTIVITIES TV view Mobile view Bikaji x KBC Ad. Placement to ensure maximum user interaction New TV Campaigns TV Campaigns with focus on Specific Products like Papad, Nut owing to which 0.17% users visited the webpage Cracker, Crorepati Khokha & Rasgulla leading to purchase intent
Slide 11: BTL Marketing Activities
BTL MARKETING ACTIVITIES Shopboards, POP & POS, Bus 2000+ Shopboards, 240+ In-Store brandings, Branding, In-Store Branding, 200+Arch Gates & 45+ Hoardings Hoardings, Arch Gates Branding on 435+ buses for 2 months during Additional Grammages in two pack size of five products festive season Radio
Slide 12: Overseas Marketing Activities
OVERSEAS MARKETING ACTIVITIES Badshah Concert - London 2 Overseas shows with Badshah In shop and on ground branding, event sponsorships and sampling opportunities during festive season 11
Slide 13: Business Performance
BUSINESS PERFORMANCE
Slide 14: Q4FY24 Business Performance
Q4FY24 BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 14.5% 32.9% 10.5% 25,220 35,108 28,883 4,623 6,241 6,144 3,446 3,914 3,808 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Packaged Sweets Western Snacks Papad 13.8% 14.2% 23% 379 1,135 432 3
Slide 15: FY24 Business Performance
FY24 BUSINESS PERFORMANCE (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 15.3% 18.5% 13.4% 1,08,357 1,25,015 19,661 23,293 13,640 15,472 FY23 FY24 FY23 FY24 FY23 FY24 Packaged Sweets Western Snacks Papad 14.4% 13.2% 10% 2,614 2,991 1,616 1,829 1,225 1,349 FY23 FY24 FY23 FY24 FY23
Slide 16: Q4FY24 Product Mix
Q4FY24 PRODUCT MIX (in %) Q4FY23 Q4FY24 Digital Campaigns 1.1 8.5 1.3 7.8 Ethnic Snacks Ethnic Snacks 8.4 8.6 Packaged Sweets Packaged Sweets 8.2 8.3 Western Snacks Western Snacks Papad Papad Others 73.3 Others 74.5 International Exhibitions 15
Slide 17: FY24 Product Mix
FY24 PRODUCT MIX (in %) FY23 FY24 6.2 2.7 6.1 2.8 Ethnic Snacks Ethnic Snacks 8.2 8.2 Packaged Sweets Packaged Sweets 13.3 Western Snacks 13.4 Western Snacks Papad Papad 69.5 Others 69.5 Others 16
Slide 18: Q4FY24 Core & Focus Markets Performance
Q4FY24 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 9.1% 15.3% 4,185 931 3,866 669 580 3,543 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Other Exports 45.4% Flat 883 223 151 151 511 351 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 17
Slide 19: FY24 Core & Focus Markets Performance
FY24 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 11.2% 22.6% 15,914 3,071 14,311 2,504 FY23 FY24 FY23 FY24 Other Exports 14.8% 22.2% 2,498 2,175 786 644 FY23 FY24 FY23 FY24 18
Slide 20: Q4FY24 Core & Focus Markets-wise Mix
Q4FY24 CORE & FOCUS MARKETS-WISE MIX (in %) Q4FY23 Q4FY24 3.3 2.9 7.6 9.8 12.5 12.9 76.6 74.4 International Core Focus Exhibitions Other Export Core Focus Other Export 19
Slide 21: FY24 Core & Focus Markets-wise Mix
FY24 CORE & FOCUS MARKETS-WISE MIX (in %) FY23 FY24 3.3 3.5 11.1 11.2 12.8 13.8 72.9 71.5 International Exhibitions Core Focus Other Export Core Focus Other Export 20
Slide 22: Q4FY24 SKU Mix - Market Leader in Family Pack Segment
Q4FY24 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 11.5% 13.6% 3,836 2,183 2,134 2,739 3,053 1,878 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q3FY24 Q4FY24 Q4FY23 Q4FY24 40.6 41.1 59.2 58.7 Family packs Impulse packs Family packs Impulse packs 21
Slide 23: FY24 SKU Mix - Market Leader in Family Pack Segment
FY24 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 13.5 % 13.6 % 13,138 8,782 11,571 7,730 FY23 FY24 FY23 FY24 FY23 FY24 39.4 39.5 58.9 59.0 Family packs Impulse packs Family packs Impulse packs 22
Slide 24: Key Quarterly Highlights/Commentary
KEY QUARTERLY HIGHLIGHTS/COMMENTARY Key Financial Performance (INR Mn) Particulars Q4 FY24 YoY (%) FY24 Growth over last year (%) Total revenue from operations 6,144 33% 23,293 18% EBITDA 1,616 161% 3,901 83% PAT 1,156 199% 2,627 93% Particulars Q4 FY24 YoY (%) FY24 Growth over last year (%) Adjuste
Slide 25: Sensitivity in Key Material Categories
SENSITIVITY IN KEY MATERIAL CATEGORIES Edible Oil Pulses and Flours 1.00 1.14 1.13 1.15 1.12 0.95 0.86 1.11 0.80 0.72 1.09 1.07 0.67 0.65 0.66 1.05 1.05 1.00 Digital Campaigns Laminates Corrugated Boxes 1.00 0.96 0.91 0.90 0.84 0.82 0.75 0.79 0.69 1.00 1.07 1.01 0.95 0.89 0.85 0.82 0.79 0.78 Interna
Slide 26: Consolidated Financial Performance | P&L
CONSOLIDATED FINANCIAL PERFORMANCE | P&L (INR Mn) Quarter ended Quarter ended Quarter ended Full Year ended Full Year ended Particulars 31st March, 2024 st 31 December, 2023 31st March, 2023 31st March, 2024 31st March, 2023 Revenue from Operations 6,144 6,241 4,623 23,293 19,661 Other Income 115 58
Slide 27: Stock Performance
STOCK PERFORMANCE The stock generated a return of 35% vs BSE Sensex which gave a return of 25% over the last 1 year. Market Capitalization INR 12,276 crore (as of 31st March 2024) Market Capitalization INR 9,066 crore (as of 31st March 2023) 31-Mar-23 30-Apr-23 31-May-23 30-Jun-23 31-Jul-23 31-Aug-2
Slide 28: PLI Update
PLI UPDATE Income Realisation Status Financial Year Amount (INR Mn) Status 2021-22 198 Realised 2022-23 286 Realised 2023-24 452 Due but not received Total 936 Total committed investment was done by 31 March 2024 as per committed timelines. Realised amount of INR 484 millions for FY 2021-22 and
Slide 29: Thank You
THANK YOU Bikaji Foods International Ltd. Rishabh Jain Prateek Sharma Email: rishabh@bikaji.com Email: prateek.sharma@bikaji.com Registered Office: Corporate Office: F 196 -199, F 178 & E 188 Plot No.E-558-561, C-569-572, Bichhwal IND. Area, E-573-577, F-585-592 Bikaner RJ 334006 IN. Karni Extension
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