Slide 1: Exchange filing cover letter
Ref: KRBL/SE/2023-24/72 09 November 2023 The General Manager National Stock Exchange of India Limited Department of Corporate Services “Exchange Plaza”, C-1, Block-G BSE Limited Bandra-Kurla Complex Floor 25, Phiroze Jeejeebhoy Towers Bandra (E), Mumbai-400051 Dalal Street, Mumbai – 400 001 Scrip Co
Slide 2: KRBL Ltd. Investor Presentation Q2 FY2024
KRBL Ltd. Investor Presentation - Q2 FY2024 *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Slide 3: Unmatched Strengths
Unmatched Strengths #1 #1 India’s largest exporter of KRBL has largest contact branded basmati rice with farming network coverage footprint in > 90 countries for rice India Gate is recognized as Strong financial position; #1 the world’s no. 1 basmati healthy internal accruals rice brand* and liquidi
Slide 4: Q2 FY24 Consolidated Performance Highlights
Q2 FY24 Consolidated Performance Highlights Total Income Gross Profit EBITDA PAT 1,246 361 228 153 1268 (1268) 4,609 2,703 Cash & Bank balance* Net Bank Borrowings Net worth Total Inventory All figures in Rs . crore and are based on consolidated financials 3 *Includes Other Bank balances and Investm
Slide 5: Continuing Momentum in Revenue
Continuing Momentum in Revenue 3% 8% 2,548 2,627 1,319 65 67 1,213 31 39 1,405 1,785 696 940 592 1,077 775 235 Q2 FY23 Q2 FY24 H1 FY23 H1 FY24 Exports Domestic Power Exports Domestic Power • Domestic Revenue grew by 35% and 27% in Q2 FY24 and H1 FY24 on y-o-y basis. Robust double digit volume grow
Slide 6: Profitability Metrics for Q2 FY24
Profitability Metrics for Q2 FY24 Gross Profit EBITDA 34.5% 22.8% • In Q2 FY24, average basmati realization declined 29.0% 18.3% by 6% compared to Q2 FY23 mainly due to lower exports. 463 361 305 • Basmati input costs increased by 10% in the 228 same period. Average basmati input cost – though highe
Slide 7: Superior Balance Sheet Matrix
Superior Balance Sheet Matrix Current Ratio (%) 6 • Total inventory as of 30th Sept., 2023, is at Rs 2,703 4 Cr, compared to Rs 2,054 Cr as of 30th Sept., 2022. • Overall liquidity position remains strong. Q2 FY23 Q2 FY24 Working Capital Days Inventory Position (Rs. Crore) 205 206 2,110 143 150 1,75
Slide 8: Superior Balance Sheet Matrix
Superior Balance Sheet Matrix Net Bank Borrowing (Rs. Crore) Q2 FY23 Q2 FY24 (1,268) • Financial strength reflected in Strong Credit Rating: (1,596) Long Term Rating: [ICRA] AA(Stable), upgraded on Feb 28, 2023. • Short Term Rating: [ICRA] A1+; CARE A1+ Interest Coverage Ratio • Internal accruals fu
Slide 9: H1 FY24 Highlights
H1 FY24 Highlights Particulars (Rs in Cr.) H1 FY24 H1 FY23 YOY Growth Revenue From Operations 2,627 2,548 3.1% • Revenue from operations grew by Total Income 2,687 2,579 4.2% 3% mainly because of growth in Gross Profit 776 865 -10.4% domestic business. Gross Profit Margin 28.9% 33.6% EBITDA 506 548
Slide 10: Financial trends over the years
Financial trends over the years Revenue Gross Profit EBITDA* 5,363 4,499 1,670 1032 4,120 3,992 4,211 893 1,242 1,300 1,264 865 845 1,192 705 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 PAT Net Worth Net Bank Borrowings 4693 4,070 701 3,693 558 559 3,128 1,381 503 2,72
Slide 11: Shareholder Distribution
Shareholder Distribution Dividend Buyback Dividend + Buyback 349 Cr 325 325 66 82 82 59 82 82 24 59 66 - - - - 24 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Dividend Buyback Dividend Buyback Total Dividend + Buyback in period FY19 to Q2 FY24 Rs. 638 Cr. • All figures
Slide 12: India Business
India Business 11 *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Slide 13: Continuing Market Leadership
Continuing Market Leadership 940 Revenue* in Rs. Crore for Q2 FY24 • Revenue driven by 26% growth in basmati volume and 7% growth in basmati realization over Q2 FY23. Trend in Domestic Business • Both consumer pack and bulk pack segment volume grew in double digits. 35% Revenue growth Y-o-Y *Exclude
Slide 14: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 15: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 16: India Gate Penetration continues to reach new heights
STRATEGIC PILLAR 1 India Gate Penetration continues to reach new heights Reaching out to more and more Indian Households… HOUSEHOLD PENETRATION (%)* KWP | (MAT Sept’23) India’s Total UNBRANDED PENETRATION (%) 31% BASMATI Basmati Huge headroom for increasing Branded Consuming Households 41% 20% BRAND
Slide 17: With the new FSSAI standards on Basmati, Branded segment growth expected to accelerate
With the new FSSAI standards on Basmati, Branded segment growth expected to accelerate STRATEGIC PILLAR 1 KRBL partners with FSSAI’s ‘Eat Right India’ initiative, to drive Awareness around the new standards (wef 1st Aug’23) 10 CONCLAVES Uniting Industry titans, regulatory authorities, renowned resea
Slide 18: Growing Basmati in South through more regional Consumption & Usage occasions
Growing Basmati in South through more regional Consumption & Usage occasions STRATEGIC PILLAR 1 TV COMMERCIALS DIGITAL & ACTIVATIONS ‘Make Traditions Taste Great with India Gate Basmati Rice’ EXPERIMENTS WITH BASMATI KRBL X PVR KRBL X KUMUDAM Sourcing Inspiration from First of its Kind Interactive U
Slide 19: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 20: Densifying distribution reach
STRATEGIC PILLAR 2 Densifying distribution reach Increasing Penetration through improved availability, with the strongest Outlet presence in the category KRBL’s RETAIL OUTLET PRESENCE | ALL INDIA Q2 FY24 | All Channels 3,87,022 +36,893 Outlets (vs. Q2 FY23) +49,294 Outlets (vs. Q1 FY24) WITH NUMERIC
Slide 21: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 22: Regional Rice showing green shoots
Regional Rice showing green shoots STRATEGIC PILLAR 3 REGIONAL RICE Positive response to Aged Regional Rice Regional Rice now at 5.9% of the overall offerings from the house of India Gate – KRBL Domestic Revenue in Q2FY24… SURTI KOLAM, JEERA RICE, SONA MASOORI, WADA KOLAM and GOBINDOBHOG Q2FY21 Q2FY
Slide 23: Maintaining leadership stance
BRAND LANDSCAPE Maintaining leadership stance ALL INDIA VOLUME SHARE (Q2 FY24)* VS. VS. VS. Q2 FY24 Q1 FY24 Q2 FY23 H1’23 H1 FY24 Traditional Trade 34.5% +210 bps +310 bps 33.4% +200 bps Modern Trade 28.8% -1310 bps -220 bps 34.4% +80 bps *As per Mordor Intelligence Report on packaged basmati rice,
Slide 24: India Brand Portfolio
India Brand Portfolio 23
Slide 25: Export Business
Export Business *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Slide 26: Leadership beyond India
Leadership beyond India 235 Revenue in Rs. Crore for Q2 FY2 4 • Export revenue declined by 60% in Q2 FY24 mainly due to lower bulk and branded sales in Trend in Export Business some key markets. -60% Revenue growth Y-o-Y 25
Slide 27: Positive trends for Rice export from India
Positive trends for Rice export from India Global markets offer exciting opportunities for KRBL to drive growth Basmati rice exports from • High yielding varieties of rice have led to surplus production in the country Production • Adoption of technology in farming have helped spur growth in produce
Slide 28: Overall international market position
Overall international market position •KRBL has leadership position in terms of market share in most GCC countries. •India Gate is #1 Indian Basmati rice brand in Qatar, UAE & Kuwait. •India Gate is the only premium Indian Rice brand in GCC. Middle East •Nur Jahan is the 2nd most popular brand in th
Slide 29: Export Strategy
Export Strategy Launch of economy variants / small packs to drive penetration New products Channel expansion Existing Markets New / Seeded Acquisition of markets “adjacent” basmati consumer Direct marketing Channel deepening & diversification Direct marketing - Penetration to locals with Arabic TVC
Slide 30: Exports Brand Portfolio
Exports Brand Portfolio 29
Slide 31: Contact Us
Contact Us Safe Harbor This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to KRBL Limited and its affiliated companies (“KRBL”) future bus
Slide 32: Thank You
Thank You *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23