Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q2 & H1 FY25 Earnings Presentation
48 slides from Manorama Industries's earnings presentation, Oct 23, 2024
Slide 1: Exchange filing cover letter
Manorama Industries Limited KHASRA No. 2449-2618 Nr. IIDC, Birkoni Mahasamund (C.G.) Pin : 493445 October 23, 2024 To, To, The Manager, The Manager, BSE Limited ("BSE") National Stock Exchange of India Limited ("NSE") Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Dal
Slide 2: Investor Presentation Q2 & H1 FY25
EMPOWERING SUSTAINABILITY Manorama Industries Limited Investor Presentation Q2 & H1 FY25 October - 2024
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Manorama Industries Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Table of Content
01 Q2 & H1FY25 Financial Highlights 02 Manorama’s Unique Proposition 03 Advantage @ Manorama 04 Company Overview 05 Sustainable Business Practices Table 06 Leadership & Management Team of Content 07 Growth Strategy 08 Appendix
Slide 5: Q2 & H1 FY25 Financial Highlights
Q2 & H1 FY25 Financial Highlights
Slide 6: Management Commentary – Q2 & H1FY25
Management Commentary – Q2 & H1FY25 Commenting on the results and performance, Mr. Ashish Saraf, Chairman & MD said: “The Company’s revenues grew by 66.0% YoY growth to INR 1,954 million in Q2FY25 owing to commercialization from the new fractionation capacity. Our domestic to export market mix stand
Slide 7: Q2 & H1 FY25 Results Highlights
Q2 & H1 FY25 Results Highlights Particulars (INR Millions) Q2FY25 Q2FY24 YoY Q1FY25 QoQ H1FY25 H1FY24 YoY FY24 Revenue 1,954.2 1,177.3 66.0% 1,334.1 46.5% 3,288.3 2,292.9 43.4% 4,570.8 Cost of Goods Sold 1,062.2 532.2 99.6% 775.0 37.1% 1,837.2 1,231.0 49.2% 2,502.1 Total Income grew by 66.0% Gross
Slide 8: Q2FY25: Financial Snapshot
Q2FY25: Financial Snapshot Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 23.1% 1,954 15.7% 452 1,177 66.0% 144.5% 185 Q2FY24 Q2FY25 Q2FY24 Q2FY25 PAT (in INR Millions) & PAT Margin (%) Earnings Per Share (in INR) 4.46 7.3% 13.7% 267 210.3% 209.7% 1.44 86 Q2FY24 Q2FY25 Q2FY24
Slide 9: H1FY25: Financial Snapshot
H1FY25: Financial Snapshot Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 16.2% 21.9% 3,288 2,293 720 43.4% 371 93.8% H1FY24 H1FY25 H1FY24 H1FY25 PAT (in INR Millions) & PAT Margin (%) Earnings Per Share (in INR) 12.2% 6.73 8.8% 403 3.38 202 99.6% 99.1% H1FY24 H1FY25 H1FY24 H
Slide 10: Balance Sheet
Balance Sheet Equity and Liabilities (INR Millions) H1FY25 FY24 Assets (INR Millions) H1FY25 FY24 Share Capital 119 119 Non-Current Assets Other Equity 3,668 3,250 Plant, Property and Equipment 1,745 1,293 Total Equity 3,787 3,369 Capital Work in Progress 32 412 Borrowings 466 507 Other Non-Current
Slide 11: Historical Financial Snapshot (1/2)
Historical Financial Snapshot (1/2) Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 17.1% 16.1% 16.1% 21.9% 14.0% 4,571 3,508 735 720 3,288 2,791 565 2,026 389 347 FY21 FY22 FY23 FY24 H1FY25 FY21 FY22 FY23 FY24 H1FY25 PAT (in INR Millions) & PAT Margin (%) *Earnings Per Share
Slide 12: Historical Financial Snapshot (2/2)
Historical Financial Snapshot (2/2) Return on Equity Return on Capital Employed 21.3% 28.9% 11.9% 20.3% 10.1% 10.0% 18.5% 9.0% 15.7% 13.0% FY21 FY22 FY23 FY24 H1FY25* FY21 FY22 FY23 FY24 H1FY25* Working Capital Analysis (in days) Net Debt to Equity 242 0.77 0.71 181 170 160 0.47 138 0.21 0.17 FY21 F
Slide 13: Manorama's Unique Proposition
Manorama’s Unique Proposition
Slide 14: Built on Strong Business Moats – Greener Future
Built on Strong Business Moats – Greener Future Waste to Wealth Competitive Marquee Manufacturing Industry Sustainable Growth Advantage Clientele Excellence Tailwinds Financial Performance Offers customer-centric solutions Integrated capacity powered with Huge industry demand of Cocoa Uplift
Slide 15: Advantage @ Manorama
Advantage @ Manorama
Slide 16: The Manorama Industries Edge
The Manorama Industries Edge # 1 Indian Exporter of Sal & Mango Based Speciality Fats & Butter # 1 Sal Fat Manufacturer in the World Leadership Status Leading manufacturer in the world manufacturing CBE & Exotic Speciality Fats and Butter from different seeds namely Sal, Mango, Shea, Kokum, Mo
Slide 17: Company Overview
Company Overview
Slide 18: Waste to Wealth Business Model
Waste to Wealth Business Model De-Oiled Cake Revenues: Sells De-Oiled Q2 FY25 – INR Cake to Indian 83 million Cattle Feed (H1FY25 – INR Industry 232 million) India: Sal, Mango, Kokum & Mowrah Manufactures Procure Exotic Extracts and Cocoa Butter Tree Borne Processes Seeds Equivalent (CBE) Seeds at S
Slide 19: Strong Supply Chain Network
Strong Supply Chain Network India – Sal Seed Collection Process *Sal Forest - India Covers ~14% of Forest region Orissa, Bihar, Jharkhand, West Bengal, Madhya Pradesh & Chhattisgarh accounts of 30% of Scattered Seeds Seed Collection Pre-Cleaning Deshelling Cleaning Seed Collection Total Sal Fore
Slide 20: CBE and Exotic Specialty Fats & Butter - Process
CBE and Exotic Specialty Fats & Butter - Process Raw Materials Sal/Mango/Shea illipe & other exotic seeds Raw Materials Shea / Illipe Raw Materials Sal/Mango Expeller Crude oil Cake Solvent Extraction Process Refinery process Crude oil De-oiled cake (cattle feed) Palm mid fraction Fractionation proc
Slide 21: CBE and Exotic Specialty Fats & Butter – Winning Proposition
CBE and Exotic Specialty Fats & Butter – Winning Proposition CBEs and Exotic Specialty Fats & Butter - Winning Case Factors Fractionated Ingredients Contains Same Fatty Acids & Comparable Physical & Fractionation of Exotic Blended without Compatible in all Proportion Triglycerides as Cocoa Chemical
Slide 22: Global CBE and Exotic Specialty Fats & Butter Industry
Global CBE and Exotic Specialty Fats & Butter Industry Global CBE and Exotic Specialty Fats & Butter: Demand Dynamics Global CBE and Specialty Fats & Butter: Market Size (in USD million) 2030 Advantage due to high CBEs and Exotic Specialty Cocoa Prices, supply chain Fats & Butter provides Rising Dem
Slide 23: State-of-the-Art Capacity & Sustainable Manufacturing
State-of-the-Art Capacity & Sustainable Manufacturing for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Manorama’s Birkoni Plant (Raipur) Refinery Interesterification 45,000 MTPA 30,000 MTPA Extraction Plant *Fractionation 90,000 MTPA 40,000 MTPA Integrated Capacity Blending Stat
Slide 24: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars (in Tons Per Annum) FY23 FY24 FY25 Capacity Addition Seed Milling (Expeller) 60,000 90,000 90,000 Added 30,000 TPA in FY24 Solvent Extraction Plant 90,000 90,000 90,000 Added 90,000 TPA in FY23
Slide 25: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars FY20 FY21 FY22 FY23 FY24 FY25 CAGR Fractionation (TPA) 15,000 15,000 15,000 15,000 15,000 40,000 21.7% Revenues (in INR Crores) 188 203 279 351 457 24.9% Average Fixed Assets (in INR Crore) 29 5
Slide 26: R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand
R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Milcoa® Innovation & Research Center – Edge Milcoa® Brand Range Spearheaded by Dr. Krishnadath Bhaggan, a professional with All-round filling fats (MilcocreamTM1056 and MilcocreamTM1010) Leadership 25+ years r
Slide 27: Array of Global Certifications
Array of Global Certifications Quest to be the Best: Wide Spectrum of Prestigious Certifications 26
Slide 28: Growing Global Footprints
Growing Global Footprints New Subsidiaries Launch Geographical Presence RUSSIA EUROPE RUSSIA EUROPE NORTH ASIA NORTH ASIA AMERICA LEBANON TURKEY AMERICA BURKINA EGYPT MEXICO FASO UAE MEXICO IVORY NIGERIA COAST TOGO BENIN BRAZIL AFRICA AFRICA BRAZIL SOUTH SOUTH AMERICA AMERICA ➢ Government of India R
Slide 29: Fortune 500 Clientele
Fortune 500 Clientele Geographical Footprints Marquee Global Clientele
Slide 30: Expanding our Geographical Footprints
Expanding our Geographical Footprints Manorama Savanna One Subsidiary in *One Subsidiary Limited, UAE in Brazil Nigeria Manorama Manorama Burkina Sarl, Savanna Togo Five Sarl, Manorama Burkina Faso Manorama Subsidiaries Togo Mena Brazil in Africa Trading LLC Manorama Manorama Africa Benin, Africa Be
Slide 31: Growth Strategy
Growth Strategy
Slide 32: Gearing up for the next wave of growth
Gearing up for the next wave of growth Capacity to Cater Growing CBE and Market Launch Innovative Vigoured Operational Exotic Specialty Fats & Diversification Products Efficiencies Butter Demand Deepening penetration R&D team continuous Economies of scale, Commissioned new operating leverage, to new
Slide 33: Sustainable Business Practices
Sustainable Business Practices
Slide 34: Environmental Initiatives
Environmental Initiatives Environment ❑ Zero effluent or water discharged outside the plant ❑ Entire treated water utilised in the plant ❑ The organization's water withdrawal has a negligible effect on the local water table ❑ Uses Biofuel Husk as an alternative fuel in the boiler Educational Tour of
Slide 35: Social Initiatives
Social Initiatives Social ❑ Empowering tribal women in seed gathering through spending INR 6.9 million towards CSR in FY24 for uplifting their overall health & hygiene ❑ The Company’s leadership composition is the fair representation of women in the Governance body and has Equal Remuneration Policy
Slide 36: Governance Initiatives
Governance Initiatives Governance ❑ Committed to UN Sustainable Development Goals & UN Global Compact ❑ Adheres principle and core element of the National Guidelines on Responsible Business Conduct (NGRBCs) ❑ Structured approach to corporate governance by delegating specific responsibilities to vari
Slide 37: Leadership Team & Management
Leadership Team & Management
Slide 38: Seasoned Board of Directors
Seasoned Board of Directors Ashish Saraf – Chairman & Managing Vinita Saraf - Vice Chairperson & Whole CA Ashok Jain - Whole Time Director & Director Time Director Chief Financial Officer Experience : 33 Years Experience : 21 Years Experience : 13 Years He has rich experience in the specialty fats S
Slide 39: Seasoned Board of Directors
Seasoned Board of Directors Mudit Kumar Singh - Independent Jose V Joseph - Independent Director Ashish Bakliwal - Independent Director Experience : 11 Years Director Experience : 38 Years Experience : 41 Years He is practicing CA. Experienced in the field of A senior retired bureaucrat from 1984 He
Slide 40: Experienced Management Team (1/2)
Experienced Management Team (1/2) Dr. Krishnadath Bhaggan - VP - R&D Appel Sten - VP – New & Existing Projects Deep Saraf - VP – Business Development Product Development Degree in Chemical Engineering from Part of co. since commencement. Currently Experience in R&D and Innovation for 22 Aalborg Univ
Slide 41: Experienced Management Team (2/2)
Experienced Management Team (2/2) Pankaj Gupta - VP – Operations Mansoor Ali – Associate VP - HR Chandan Gupta - Associate VP - Sales He has 32 years of experience in FMCG She has more than 30 years of experience in He is MBA in Operation Research and company like HUL, Nestle, Adani Wilmar Steel Man
Slide 42: Appendix
Appendix
Slide 43: Recent Awards & Accolades (1/3)
Recent Awards & Accolades (1/3) Shri. Ashish Saraf – Chairman and Managing Director of Shri. Ashish Saraf – Chairman and Managing Director of Manorama Manorama Industries Limited honored by the Conference of Industries Limited received an award for ‘Highest Exporter of Tree Borne Indian Industry (CI
Slide 44: Recent Awards & Accolades (2/3)
Recent Awards & Accolades (2/3) Shri. Ashish Saraf – Chairman and Managing Director of Manorama Ekta Soni – Associate VP – IR receiving Sustainability Award 2024 on behalf Industries Limited received six esteemed awards for the remarkable of Manorama Industries Limited for ‘Sustainable Specialty but
Slide 45: Recent Awards & Accolades (3/3)
Recent Awards & Accolades (3/3) Shri Shrey Saraf – Whole Time Director, Manorama Industries receiving ‘Eminent Excellence in ESG & Sustainable Creation of Business through waste, with support to thousands of forest Shri. Ashish Saraf – Chairman and Managing Director and Shri Shrey dwellers’ Award Sa
Slide 46: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Article Published on Lush Website 45 Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 47: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern September 2024 (%) Promoter MANORAMA / NSE Ticker /BSE Code 541974 39% FIIs Current Market Price 57% 927.8 MF (as on 22 October 2024) 2% 2% Other Market Cap (INR Crores) 5,529.6 (as on 22 October 2024) 1200 Share Price Movement (1 Year
Slide 48: THANK YOU!
THANK YOU! Contact Information Company : Manorama Industries Limited Investor Relations Advisors : CIN: L15142MH2005PLC243687 Mr. Vikash Verma/Mr. Hiral Keniya Ms. Ekta Soni Mr. Deepak Sharma Associate Vice President - IR Company Secretary & Compliance officer E: vikash.verma1@in.ey.com/ E: ekta@man
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