Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q1 FY22 Earnings Presentation
46 slides from Manorama Industries's earnings presentation, Aug 14, 2021
Slide 1: Cover letter to BSE – Investors' Presentation
% Manorama Date: August 14, 2021 Industries Limited The Manager BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai — 400 001 BSE Code: 541974 Scrip Code: MANORAMA Dear Sir/Madam, Sub: Investors’ Presentation Dear Sir/ Madam, In reference to the above captioned subject, please find attached a copy
Slide 2: Manorama Industries Limited Investor Presentation – August 2021
Manorama Industries Limited Investor Presentation – August 2021
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: Q1FY22 & FY21 - Highlights
Q1FY22 & FY21 - Highlights
Slide 5: Management Commentary – Q1 FY22
Management Commentary – Q1 FY22 Commenting on the results and performance, Ms. Vinita Saraf, Chairperson and Managing Director said: “Q1FY22 was expected to be a challenging quarter amid rising Covid-19 infection, and the resultant economic impact led to a halt in the recovery the broader market was
Slide 6: Q1 FY22 – Financial Highlights
Q1 FY22 – Financial Highlights Revenue (Rs. In Mn) EBITDA (Rs. In Mn) Profit after Tax (Rs. In Mn) +108% +212% 616.0 +80% 92.6 53.4 51.4 296.5 17.1 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 EBITDA Margins (%) PAT Margins (%) 17.3% 8.7% 15.0% 5.8% Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 5
Slide 7: Q1 FY22 – Profit & Loss Account
Q1 FY22 – Profit & Loss Account Profit and Loss (in Rs. Mn) Q1FY22 Q1FY21 YoY Q4FY21 QoQ FY21 Revenue from Operations (Net of Excise) 615.96 296.51 108% 610.52 1% 2,026.25 Raw Material 350.50 171.60 382.96 1198.98 Employee Cost 26.72 16.73 14.64 74.68 Other Expenses 146.15 56.76 138.05 405.98 EBITDA
Slide 8: FY21 – Financial Highlights
FY21 – Financial Highlights* Revenue (Rs. In Mn) EBITDA (Rs. In Mn & EBITDA Margin (%) PAT (Rs. In Mn) & PAT Margin (%) 2,084.4 438.5 233.3 1,882.4 356.4 183.3 23.3% 17.1% 12.4% 8.8% FY20 FY21 FY20 FY21 FY20 FY21 ROCE & ROE (%) Short-Term Debt (Rs. In Mn) Debt / Equity (x) During FY21 the company ha
Slide 9: FY21 – Balance Sheet Statement
FY21 – Balance Sheet Statement Equity & Liabilities (in Rs. Mn) Mar-21 Mar-20 Assets (in Rs. Mn) Mar-21 Mar-20 Total Equity 1,455.9 1,272.6 Non - Current Assets 737.4 628.8 Share Capital 111.3 111.3 Property Plant & Equipment's 566.0 513.8 CWIP 0.0 0.0 Reserves & Surplus 1,344.6 1,161.3 Right-of-Use
Slide 10: FY21 – Cash Flow Statement
FY21 – Cash Flow Statement Particulars (In Rs. Mn) Mar-21 Mar-20 Net Profit Before Tax 233.4 323.7 Adjustments for: Non Cash Items / Other Investment or Financial Items 161.4 145.9 Operating profit before working capital changes 394.8 469.6 Changes in working capital 18.6 -1,022.5 Cash generated fro
Slide 11: Business Update - New Expansion Plan & Fund Raise
Business Update - New Expansion Plan & Fund Raise
Slide 12: Proposed Expansion Plan
Proposed Expansion Plan Particulars Amount (in Cr.) Details For new investments in setting up new capacity of Fractionation and Refinery process by 25,000 MT per annum each along with supporting infrastructure with the total estimated capex of Rs. 65 Cr. Board has also approved the acquisition of la
Slide 13: Details of Proposed Expansion Plan
Details of Proposed Expansion Plan Putting up a 300 TPD Solvent Extraction Plant. Currently the Company is doing Solvent extraction under job work process through a third party vendor which entails additional transportation costs and processing costs. The said expansion will save on these additional
Slide 14: Funding Plan
Funding Plan Pursuant to the approval of the Board of Directors at its meeting held on July 09, 2021 and approval of the members of the Company at their Extra-Ordinary General Meeting held on August 03, 2021 and pursuant to In-principle approvals granted by BSE Limited vide its letter dated August 0
Slide 15: Company Overview
Company Overview
Slide 16: About Us
About Us Since its incorporation 16 years ago in 2005, started with extracting A global pioneer in the butter and fats from Sal manufacturing of The World’s exclusive producer of Mango seeds and Mango kernel Specialty Fats and based Cocoa Butter Equivalent (CBE), Sal Based and gradually forayed CBE,
Slide 17: Our Key Milestones
Our Key Milestones Company has successfully migrated from BSE SME Board to BSE Main Board • Received the GoI Department of Scientific & Industrial Research Company has raised successfully certificate approved in 2020 Rs. 100.88 Crore for its New Capex plans • Commenced new Plant at Birkoni • Signed
Slide 18: Experienced Board of Directors
Experienced Board of Directors Vinita Saraf Jose V Joseph Chairperson and Managing Director Independent Director Experience : 20 Years Experience : 40 Years Background : She has completed her bachelor’s degree in commerce from Background: He retired as the Executive Vice President from The Federal B
Slide 19: Experienced Management Team
Experienced Management Team Ashish Saraf - President Apel Sten - VP – Projects (New & Ajay Sharma - VP - Commercial Existing) A MBA in Finance and marketing. He has an Degree in Chemical Eng. from Aalborg experience of 27 years in procurement of raw University (DK) and has experience in Edible mater
Slide 20: Our Vision and Mission
Our Vision and Mission Mission Vision • Acquire and maintain leadership position in chosen areas of business by innovating and co-developing products for different applications for various segments using continues Research & Developments. • Customer delight is our highest priority • Continuously cre
Slide 21: Global Certifications
Global Certifications Manorama Industries’ quest for quality has earned it a spectrum of prestigious certifications ISO 16128 Organic Cosmetic Products 20
Slide 22: Our Commitment to UN Global Compact
Our Commitment to UN Global Compact Committed to UN Sustainable Development Goals Over the years, developed an extensive supply chain network of Millions of women tribal and forest-dwellers ………and have positively impacted the livelihoods Committed to UN Global Compact With the signature of the UN Gl
Slide 23: Awards & Accolades (1/2)
Awards & Accolades (1/2) National & International Awards Received by Manorama from Government of India, Ministry of Commerce and Various other National & International Organizations 22
Slide 24: Recent Awards & Accolades (2/2)
Recent Awards & Accolades (2/2) Awarded Awarded Awarded ‘Highest Processor of Mango ‘Highest Exporter of Mango ‘Highest Processor of Salseed Kernel 2019-20’ Kernel oil (Fats) 2019-20’ 2019-20’ Consecutively from many years MIL has meritoriously conferred 4 (four) awards at Awarded ‘Highest Exporter
Slide 25: Our Business Model
Our Business Model
Slide 26: Weaving a Revolution - Wealth Out of Waste
Weaving a Revolution - Wealth Out of Waste ‘’We source from poor and sell to rich’’ Waste to Wealth From Forests to From the Poorest premium Brands To the Richest • Procuring Raw Materials from the • Forest / Plant grown seeds, mango marginalized tribal located in remote kernels are major raw materi
Slide 27: Collecting Nature's Gift to Make Natural Products
Collecting Nature’s Gift to Make Natural Products Our business model is entirely nature based, sourcing our entire raw material from forests. No Risk of non-availability of raw material. Trees flower every year and seeds are produced. Available in plenty in India and other Countries. There is limite
Slide 28: Manufacturing Process and Capacities
Manufacturing Process and Capacities Raw Materials Sal / Mango / Shea / Illipe & Other Exotic Seeds Raw Materials Shea / Illipe Raw Materials Sal /Mango / Others Expeller Crude Oil Cake Solvent Extraction Process Refinery Process Crude Oil De-oiled Cake (Cattle Feed) Byproducts / Gums Refined Butter
Slide 29: Enhancing Capacities for an Expanding Business
Enhancing Capacities for an Expanding Business Favourable plant location provides us an edge in sourcing raw-materials and ensuring adequate supply To meet the huge surge in specialty tailor-made fats and CBE demand, the company has set up an integrated state of the art manufacturing plant at Birkon
Slide 30: Key Product Components
Key Product Components Shea nuts (Vitellaria paradoxa) The Shea trees that yield Shea nuts are found mainly in West Africa region. The Shea nut collection season is from September to January. The Ghanaian kernels are considered to be of the best quality due to their consistently lower free fatty-aci
Slide 31: De-Oiled Cake for Cattle Industry
De-Oiled Cake for Cattle Industry De-Oiled Cake is the by-products sold as Cattle Feed. India is the world’s The Company has largest consumer of Sizeable presence in cattle-feed & largest the Cattle feed Milk Producer segment FY21 Revenue contribution from cattle feed business Offering nutrition & p
Slide 32: Our Key Product Portfolio
Our Key Product Portfolio Shea butter Shea stearin Shea olein Kokum Butter Shea nuts have 45-52% butter content, high in Is the solid fraction obtained Is the soft fraction obtained when processing It is obtained from kokum seeds. It stearic, oleic-and other essential fatty acids, which via solvent
Slide 33: Supply Chain Network
Supply Chain Network Manorama Supply Network in West - Africa Sal seed Collection Process in India Scattered Sal in forest bed Seeds picking by Shea Forest Shea Tree Shea Fruit Picking of tribal women Shea nuts Pre-cleaning of Sal seeds At Manorama buying Shea nuts Deshelling of Boiling & Cleaning R
Slide 34: World's Leading Brands are Our Customers
World’s Leading Brands are Our Customers The Company derives major revenue from the chocolate and confectionery industry, with a significant portion of the balance revenues coming from the cosmetics industry Food & Confectionery Chocolate Plant Based Food Industry Cosmetics (Vegan Food) The Brand Na
Slide 35: Geographical Footprint
Geographical Footprint Trusted manufacturer of food, chocolate, confectionary and cosmetics ingredients industry having FY21 – Average Revenue Breakup customer base spanning across the globe 36% 64% Domestic International The Company enjoys a global leadership position in the manufacturing and expor
Slide 36: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Link – Click Here Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only 35
Slide 37: Industry Overview
Industry Overview Indian consumption of chocolate Global Industry Landscape was ~228,000 tons in 2016. In May 2017, FSSAI allowed the use of 5% CBEs in chocolates from January 1st, 2018. With the positive change in the standards of chocolates, the CBE demand is estimated to grow substantially. India
Slide 38: Innovation & Research
Innovation & Research
Slide 39: Product Portfolio - MILCOA® Range & Spread Fats
Product Portfolio - MILCOA® Range & Spread Fats Through extensive customized solution provider and with co-development approach with customers and in-house research, Manorama Industries Limited has developed a number of customized products: Milcoa® ES70, Milcoa® ES70S, Milcoa® Milcoa® IS1016, Milcoa
Slide 40: Excellence Through Innovation & Research, But Naturally!
Excellence Through Innovation & Research, But Naturally! Milcoa® Innovation & Research Center, a high standard research laboratory equipped with cutting-edge technologies Collaborates closely with Develop creative innovative customers’ R&D teams solutions to use its CBEs, CBIs and other offerings. L
Slide 41: R&D, Innovation & QA/QC Capabilities
R&D, Innovation & QA/QC Capabilities New Products for : Building on its core competencies Confectionery, Bakery, Culinary and non- in the food and cosmetics 5 (B2B) food, Health drink, Personal care 1-2 (B2C) 2025 segments, the Company is developing new products for Under Development (B2B) segments
Slide 42: Historical Financial Highlights
Historical Financial Highlights
Slide 43: Financial Highlights
Financial Highlights Profit and Loss (in Rs. Mn) FY21 FY20 FY19 Revenue from Operations (Net of Excise) 2,084.4 1,882.4 1,024.0 Raw Material 1,248.8 867.3 495.4 Employee Cost 73.4 69.1 35.0 Other Expenses 405.7 507.6 210.7 EBITDA 356.4 438.5 282.8 EBITDA Margin 17.1% 23.3% 27.62% Depreciation 79.6 7
Slide 44: Balance Sheet Statement
Balance Sheet Statement Equity & Liabilities (in Rs. Mn) Mar-21 Mar-20 Mar-19 Assets (in Rs. Mn) Mar-21 Mar-20 Mar-19 Total Equity 1,455.9 1,272.6 1,039.3 Non - Current Assets 737.4 628.8 357.9 Share Capital 111.3 111.3 111.3 Property Plant & Equipment's 566.0 513.8 63.3 Reserves & Surplus 1,344.6 1
Slide 45: Growth Drivers - Market Strategy
Growth Drivers - Market Strategy Optimum capacity utilisation at Birkoni Growing opportunities in Chocolate Industry The Company’s new plant at Birkoni started commercial production. The increasing tradition of chocolate gifting and the fear of adulteration Key process of fractionation has also comm
Slide 46: THANK YOU
Contact Information Company : Investor Relations Advisor : Manorama Industries Limited Strategic Growth Advisors Pvt. Ltd. CIN: L15142MH2005PLC243687 CIN: U74140MH2010PTC204285 Mr. Ashok Jain – Chief Financial Officer Mr. Shogun Jain / Mr. Abhishek Shah E: shogun.jain@sgapl.net / abhishek.shah@sgapl