Adf Foods Limited · NSE:ADFFOODS
Adf Foods — H1 FY23 Earnings Presentation
40 slides from Adf Foods's earnings presentation, Nov 8, 2022
Slide 1: Cover letter to stock exchanges
FOODS LTD . 'Jwlbu; Lite woiU.. November 08, 2022 DCS-CRD DCS-CRD National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Department of Corporate Services, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Mumbai - 400 051. Mumbai - 400 001. Symbol: ADFFOOD
Slide 2: Investor Presentation November 2022
FOOD S LT D. CJeediruy tk ~ -. Investor Presentation November 2022
Slide 3: Safe Harbor
SAFE HARBOR FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. This presentation and the accompanying slides (the “Presentation”), which have been prepared by ADF FOODS LTD (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchas
Slide 4: Business Overview
BUSINESS OVERVIEW
Slide 5: About ADF Foods
ABOUT ADF FOODS FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. ABOUT US ADF Foods (ADF) is a leading manufacturer of prepared ethnic food, offering frozen foods, ready-to-eat (RTE) items, ready-to-cook (RTC) items, chutneys, sauces, pickles, spices, pastes, dips and milk drinks under its 8 Flagship brands. O
Slide 6: Business Snapshot
BUSINESS SNAPSHOT /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. I 8 3 BRANDS MANUFACTURING FACILITIES I 55+ 2 COUNTRIES WAREHOUSES 180+ ~28,000 MTPA DISTRIBUTORS CAPACITY 5
Slide 7: Business Divisions
BUSINESS DIVISIONS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Revenue (₹ Cr ) PROCESSED FOODS BUSINESS +15.1% Large range of products suited for 335 different palates 293 253 22% One of the top brands in ethnic food 160 shelves in key markets One of the largest Indian exporters of processed snacks /J
Slide 8: Product Portfolio
PRODUCT PORTFOLIO /J. FOODS LTD. '1,,,,1;,.,; ti,~ w<nltl.. Select key products Snacks- Punjabi samosas, batata vada, kathi rolls Frozen Products 111111111111 I Vegetables- Green chilli, Mix vegetable cut, methi, palak Breads- Naans, parathas I I Ready-to-eat & Ready to eat- Pav Bhaji, dal m
Slide 9: New Product Launches
NEW PRODUCT LAUNCHES /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. THE: OIHGINAt. llNDlAN TASTE: I I Guiab Jamun __ f_S.0.._flllmSoll~-ln-lj<ICI - NET WT 300 9 110.soz NET WT 300g/ 10.soz NET WT 3009110.soz 8
Slide 10: ADF Soul – Launched in India
ADF SOUL –LAUNCHED IN INDIA ADF S<® UL Products under ADF Soul brand have been launched PAN India on e-commerce platform from Q2 FY23 Currently pickles and chutneys are introduced in traditional & in olive oil categories keeping in mind the health of the consumer Products are available on company’s
Slide 11: Customer Centric Approach
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Slide 12: Strengthening the Reach to the Consumers
STRENGTHENING THE REACH TO THE CONSUMERS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. In addition to expanding our production capacities, ADF is also expanding its reach in key markets through direct distribution ) MANUFACTURING 2 MARKETING & ADVERTISING 2 WAREHOUSING 2 DISTRIBUTION ) Step-down subsidi
Slide 13: A Bouquet of Global Brands
A BOUQUET OF GLOBAL BRANDS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Positioning 11111111111111 1 Flagship Brand targeted at Indian diaspora worldwide 111111111111111 Primarily targeted at Non-Indian diaspora consumers Frozen- Snacks, breads, vegetables '.:=====================================::; Pr
Slide 14: A Bouquet of Global Brands
A BOUQUET OF GLOBAL BRANDS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. ADF Frozen Organic S~ UL Mexican Food Positioning 11111111111111 1 Primarily targeting urban Indian customers 111111111111111 Organic, made with USDA certified organic ingredients Products 11111111111111 1 Meal accompaniments, past
Slide 15: Manufacturing Facilities
MANUFACTURING FACILITIES FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. • Total Built up factory area - 15,000 Sqm • Frozen foods (Samosas, vegetables, Nadiad, Gujarat snacks, parathas, etc.) • Meal accompaniments (Pickles, chutneys, pastes, sauces) • Ready to eat curries & canned vegetables Manufacturing ex
Slide 16: Warehousing and Distribution Facilities
Warehousing and Distribution Facilities Atlanta, USA New Jersey, USA Atlanta, USA New Jersey: 66,000 sq.ft. Atlanta: 34,000 sq.ft. New Jersey, USA
Slide 17: Certifications & Accreditations
CERTIFICATIONS & ACCREDITATIONS /J. FOODS LTD. '1,,,,1;,.,; ti,~ w<nltl.. ISO 9002 certification BRC accreditation Awarded prestigious ISO 9002 certification APEDA (Ministry of Commerce and Industries) by BVQI of U. K. for export promotion. I• ' ' Award for exceptional performance in Exports J Burea
Slide 18: Awards & Recognitions
AWARDS & RECOGNITIONS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. BUILDING A LONG-LASTING LEGACY ~ EXPORTER OFTHE FOODS LTD. ':ludin91/r wodd.. YEAR Great Taste Award Best FMCG Company SOFI Awards 2017 Best Overall exporter Exceptional (SME Sector) of the year Performance in Exports In 2017-18, the Co
Slide 19: Advertising & Marketing
ADVERTISING & MARKETING /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. ADVERTISEMENT & MARKETING EXP % REVENUE 8.4 5.7 5.8 5.8 5.0 Cabinet approves PLISFPI FY18 FY19 FY20 FY21 FY22 The Ministry of Food Processing Industries • The PLI scheme was introduced to enhance the nations manufacturing welcome the
Slide 20: Advertising & Marketing
ADVERTISING & MARKETING /J. FOODS L TD. 'j,,,,1;,.,; ti,~ w<nltl.. SOCIAL MEDIA MARKETING adfashokaofficial Hi, I am a Canadian immigrant since 3 years and purchase packaged Indian food of mu ltiple brands every month. I purchased Ashoka naan last month. It was very fluffy, spongy, not dry, and seem
Slide 21: Global Distribution Network
GLOBAL DISTRIBUTION NETWORK /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. 55+ _J COUNTRIES 0 CANADA EUROPE 0 180+ _J DISTRIBUTORS 0 ------- NORTH AMERICA -------- MIDDLE EAST ASIA HO Mumbai 2 _J WAREHOUSES 0 0 AUSTRALIA SOUTH AFRICA 8 _J COUNTRY MANAGERS 20
Slide 22: Strengthening Distribution
STRENGTHENING DISTRIBUTION /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl .. Unilever Canada PATANJAL ® Patanjali Ayurveda - U~m"' Patanjali Ayurveda is a rapidly growing Indian Unilever is a Fortune 500 FMCG company selling products Positioning 11111111111111 1 like tea, coffee, beverages, etc. across the
Slide 23: Value Proposition with Growth Drivers
VALUE PROPOSITION WITH GROWTH DRIVERS FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl .. Processed Foods Distribution Growth Strategies Investments ◆ India Business ◆ Expansion H1 FY23 Revenue 159.8 Cr H1 FY23 Revenue ₹ 44.2 Cr ― Manufacturing capacities ◆ QSR / Cloud Kitchen ― Distribution network H1 FY23 ROCE
Slide 24: At an Inflection Point
AT AN INFLECTION POINT /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. “ At ADF we believe in maintaining high quality Strong Brand Recall standards, introducing new and innovative products while remaining customer centric “ 01 Capacity Inorganic 02 Enhancement AcquisitionsI 06 & Modernization Expand exis
Slide 25: Financial Performance
FINANCIAL PERFORMANCE
Slide 26: Q2 FY23 Result Highlights
Q2 FY23 RESULT HIGHLIGHTS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. REVENUE* (₹ Cr ) EBITDA (₹ Cr ) & MARGIN PAT* (₹ Cr ) & MARGIN Consolidated Quarterly +9.8% performance 109.8 106.7 19.2 18.0 13.6 97.2 12.5 7.6 9.1 17.5% 9.3% 16.9% 11.4% 7.9% 12.7% Q2FY22 Q1FY23 Q2FY23 I Q2FY22 Q1FY23 Q2FY23 I Q2F
Slide 27: H1 FY23 Result Highlights
H1 FY23 RESULT HIGHLIGHTS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN PAT (₹ Cr ) & MARGIN Consolidated Half Yearly +4.1% performance 195.9 203.9 31.6 23.6 27.1 21.2 16.1% 13.3% 12.1% 10.4% H1FY22 H1FY23 I H1 FY22 H1 FY23 H1 FY22 H1 FY23 Standalone Half Yearly +
Slide 28: Q2 & H1 FY23 Consolidated Profit & Loss
Q2 & H1 FY23 CONSOLIDATED PROFIT & LOSS FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Particulate (₹ Cr) Q2 FY23 Q2 FY22 Y-o-Y Q1 FY23 Q-o-Q H1 FY23 H1 FY22 Y-o-Y Revenue from Operations 106.7 109.8 -2.7% 97.2 9.8% 203.9 195.9 4.1% Cost of Materials consumed 34.4 26.2 38.3 72.7 62.8 Purchase of stock-in-tra
Slide 29: Q2 & H1 FY23 Standalone Profit & Loss
Q2 & H1 FY23 STANDALONE PROFIT & LOSS FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Particulate (₹ Cr) Q2 FY23 Q2 FY22 Y-o-Y Q1 FY23 Q-o-Q H1 FY23 H1 FY22 Y-o-Y Revenue from Operations 83.2 73.8 12.8% 72.2 15.3% 155.3 132.4 17.3% Cost of Materials consumed 34.4 26.2 38.3 72.7 62.8 Purchase of stock-in-trade
Slide 30: Segment Wise Results Break Up
SEGMENT WISE RESULTS BREAK UP FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. REVENUE (₹ Cr ) Particulate (₹ Cr) Q2 FY23 Q2 FY22 Y-o-Y H1 FY23 H1 FY22 Y-o-Y Revenue 203.9 195.9 Processed & Preserved Foods 82.9 86.8 159.8 156.5 2.1% Agency Distribution 23.9 22.9 44.2 39.4 12.0% .. _.. ,.. ,..._.. ,...... ,-...
Slide 31: Strong & Sustainable Financial Performance
STRONG & SUSTAINABLE FINANCIAL PERFORMANCE /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl .. REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN (%) PAT (₹ Cr ) & MARGIN (%) 16.7% ~ 11 18.6% 11 18.5% 11 15.8% I ~I~ ~~II 13.3% 10.9% 15.0% II 13.5% II 11.5% I ~I~ 10.4% 421.2 68.3 66.5 50.1 48.5 369.8 42.8 53.1 285.2 231
Slide 32: Consolidated Profit & Loss
CONSOLIDATED PROFIT & LOSS FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Particulate (₹ Cr) FY22 FY21 FY20 FY19 FY18 Revenue from Operations 421.2 369.8 285.2 231.4 201.0 Cost of Materials consumed 120.2 107.3 81.8 89.3 78.2 Purchase of stock-in-trade 88.8 124.9 86.4 42.0 34.1 Changes in Inventories 0.7 -17
Slide 33: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl .. Equity & Liabilities (₹ Cr) Sept’22 Mar’22 Assets (₹ Cr) Sept’22 Mar’22 Equity . Non-Current Assets ..................................................................................................................................
Slide 34: Consolidated Cash Flow Statement
CONSOLIDATED CASH FLOW STATEMENT FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Cash Flow Statement (₹ Cr) Sept’22 Mar’22 . Cash Flow from Operating Activities . . . Profit before Tax 27.2 65.1 .. .. .. ... .. .. .. .. Adjustment for Non-Operating Items .. 4.0 .. 6.5 .. . Operating Profit before Working Capi
Slide 35: Governance Focused
GOVERNANCE FOCUSED
Slide 36: Consistent Shareholder Returns
CONSISTENT SHAREHOLDER RETURNS /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. FY18 FY19 FY20 FY21 FY22 Rs 90.1 crores VALUE CREATION FOR Rs 5.5 crore Rs 30 crore Rs 6 crore Rs 6 crore Rs 8.8 crore Returned to SHAREHOLDERS Dividend Payout Buyback Dividend Payout Dividend Dividend shareholders in the last
Slide 37: Corporate Social Responsibility (CSR)
CORPORATE SOCIAL RESPONSIBILITY (CSR) /J. FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. Education support Covid Measures Clean India Mission Women Empowerment program ₋ Partnered with NGOs for supply of oxygen ₋ Swachch Bharat Abhiyaan: Constructed over 100 ₋ Partnered with several education not-for-profit
Slide 38: Board of Directors
BOARD OF DIRECTORS FOODS LTD. • • • • • • Bimal Thakkar Deepa Harris Chandir Gidwani Ravinder Jain Jay Mehta Viren Merchant Chairman, Managing Independent Director Independent Director Independent Director Non-Executive Director Non-Executive Director Director and CEO 35 years of experience 30+
Slide 39: Management Team
MANAGEMENT TEAM FOODS LTD. 'j,,,,1;,.,; ti,~ w<nltl.. • Under Bimal’s leadership, ADF Foods has evolved from a small dried fruit store to a global brand with food processing and Bimal Thakkar distribution capabilities and presence in over 55 countries. Chairman, Managing • Further, Bimal played a pi
Slide 40: Thank You
THANK YOU ADF Foods Limited CIN: L15400GJ1990PLC014265 Mr. Shardul Doshi, CFO shardul@adf-foods.com Mr. Bhavin Soni +91 9833537225 bhavin.soni@linkintime.co.in Mr. Ashish Chovatia +91 9930044680 ashish.chovatia@linkintime.co.in