Slide 1: Exchange filing cover letter for investor presentation
Ref: KRBL/SE/2023-24/16 30th May 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 Symbol: KRB
Slide 2: KRBL Ltd. Investor Presentation Q4FY23 & FY2023
KRBL Ltd. Investor Presentation - Q4FY23 & FY2023 *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’22
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: FY23 Highlights
FY23- Highlights Y-o-Y Growth Total Income: Rs 5,456 Cr 28% Domestic Revenue* : Rs 3,335 Cr 26% Highest Ever EBITDA: Rs 1,031 Cr 46% Annual PAT: Rs 701 Cr 52% EPS: Rs 29.77 52% 3 All figures in Rs . crore and are based on standalone financials *Excludes Energy, crossed Rs 3000 Cr mark for 1st time
Slide 5: Q4 FY23 standalone performance highlights
Q4 FY23 standalone performance highlights Total Income Gross Profit EBITDA PAT 1,323 351 187 118 61 77 4,684 4,186 Cash & Bank balance* Net Bank Borrowings Net worth Total Inventory All figures in Rs . crore and are based on standalone financials 4 *Includes Other Bank balances and Investments (excl
Slide 6: Continuing momentum in Revenue
Continuing momentum in Revenue 27% 30% 5,363 1280 4,211 97 987 17 112 30 3,335 932 2,648 677 331 1,451 1,931 280 Q4 FY22 Q4 FY23 FY22 FY23 Exports Domestic Power Exports Domestic Power • Overall Revenue increased by 30% over Q4 FY22. Domestic revenue increased 38% and export by 18% • Basmati rev
Slide 7: Profitability metrics for Q4 & FY23
Profitability metrics for Q4 & FY23 Gross Profit EBITDA 30.6% 18.9% 31.0% • During Q4 FY23, increase in basmati realization 26.5% 28.0% 17.0% 16.6% 14.1% by 17% compared to Q4 FY22 was offset by a 1,671 1,191 corresponding 24% rise in rice input costs. 308 351 170 187 705 1031 • Gross Profit margin
Slide 8: Superior balance sheet matrix
Superior balance sheet matrix Current Ratio (%) 9 • To fulfil anticipated demand, the total inventory as 8 of 31st Mar, 2023, is at Rs 4,186 Cr, compared to Rs 2,816 Cr as of 31st Mar, 2022. • Overall liquidity position remains strong. Q4 FY22 Q4 FY23 Working Capital Days Inventory Position (Rs. Cro
Slide 9: Superior balance sheet matrix
Superior balance sheet matrix Net Bank Borrowing (Rs. Crore) Q4 FY22 Q4 FY23 77 • Total Bank Borrowing as of 31st Mar, 2023 at Rs 138 Cr as against Rs 6 Cr as on 31st Mar 2022) -390 • Financial strength reflected in Strong Credit Rating: Long Term Rating: [ICRA] AA(Stable), upgraded on Interest Cove
Slide 10: FY23 standalone performance highlights
FY23 standalone performance highlights • In FY23, domestic sale increased by 26%, Particulars (Rs in Cr.) FY22 FY23 YOY Growth led by 6% basmati volume growth and 26% basmati realization growth. Revenue From Operations 4,211 5,363 27.4% Total Income 4,253 5,456 28.3% • Export sale increased by 33% m
Slide 11: Financial trends over the years
Financial trends over the years Revenue Gross Profit EBITDA* 5,363 4,499 1,671 1,031 4,120 3,992 4,211 894 1,241 1,299 1,255 865 846 1,191 705 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 PAT Net Bank Borrowings 701 503 559 560 1,382 460 375 53 (389) 77 FY19 FY20 FY21 F
Slide 12: Shareholder value creation
Shareholder value creation Net worth (Rs. Crore) Dividend as a % of FV 72% Consistent increase Over FY19 over the years 4684 350% 350% 4,063 3,546 280% 3,119 250% 2,717 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 All figures are based on standalone financials 11 11
Slide 13: India Business
India Business 12 *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’22
Slide 14: Continuing market leadership
Continuing market leadership 932 Revenue* in Rs. Crore for Q4 FY23 • Revenue driven by 18% growth in volume and 22% growth in realization. Trend in Domestic Business • Bulk pack sales continue to be strong after rationalization of GST in Q2 FY2023. 38% Revenue growth Y-o-Y *Excludes Energy 13
Slide 15: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 16: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 17: India Gate penetration reaches new heights
STRATEGIC PILLAR 1 India Gate penetration reaches new heights On the back of impactful media campaigns and improved distribution PENETRATION (%)* GROWTH MAT ‘23 VS. MAR’23 ‘22 Huge headroom for UNBRANDED 29.2 -5.3% increasing Branded Basmati’s penetration BRANDED 19.5 2.4% KRBL consuming Households
Slide 18: 'Regionalization' lens to the campaigns brings impact
STRATEGIC PILLAR 1 ‘Regionalization’ lens to the campaigns brings impact HINDI-SPEAKING MARKETS WEST BENGAL MAHARASHTRA ‘Basmati Rice Se No Compromise’ Home Minister Brand Power Preferred by 9 out of 10 women in Mah. ~70% Share Of Voice (TV) 17000+ Spots (in Q4’23) 60+ Integrations and Sponsorships
Slide 19: Impactful Media & Digital presence
STRATEGIC PILLAR 1 Impactful Media & Digital presence MASTERCHEF INDIA HIGH IMPACT BUILDING REGIONAL CATALYZING DIGITAL Season 7 INTEGRATIONS RELEVANCY EVOLUTION #CLASSICRISHTA Bigg Boss Hindi ‘Basmati Rice Se No Compromise’ Bigg Boss Marathi ‘9 out of 10 women in Maharashtra recommend World’s First
Slide 20: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 21: Densifying distribution reach
STRATEGIC PILLAR 2 Densifying distribution reach Increasing Penetration through improved availability MARKET REPRESENTATION 40% increase in number of distributors Having market representation in ALL 50k+ Pop. Towns in North & West & ALL 1 Lac+ Pop Towns in East & South AVAILABILITY ACROSS RETAIL OUT
Slide 22: Strategic Pillars | Domestic
STRATEGIC PILLARS | DOMESTIC 1. 2. 3. INCREASING BRANDED BASMATI DENSIFYING AUGMENTING PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
Slide 23: Augmenting portfolio across segments
STRATEGIC PILLAR 3 Augmenting portfolio across segments PORTFOLIO REGIONAL RICE HEALTH PORTFOLIO EXPANSION UPDATE INTERVENTIONS Successfully introduced offerings Positive response to Aged KRBL further strengthens its • Gujarat- Work in progress at attractive price points | Bridged Regional Rice offe
Slide 24: Launch of Diabetic-friendly 'India Gate Sugar Watchers' Low GI Rice
Launch of Diabetic-friendly ‘India Gate Sugar Watchers’ Low GI Rice MODERN TRADE E-COMMERCE GENERAL TRADE TN & Karnataka
Slide 25: Maintaining its leadership stance
BRAND LANDSCAPE Maintaining its leadership stance ALL INDIA VOLUME SHARE (Q4 FY23)* Q4 FY23 Q3 FY22 Q4 FY22 Traditional Trade 32.5% +10 bps -20 bps Modern Trade 58.0% +1810 bps +300 bps * Source: As per Nielsen’s Q4’23 RMS data
Slide 26: India Brand Portfolio
India Brand Portfolio 25
Slide 27: Export Business
Export Business *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’22
Slide 28: Leadership beyond India
Leadership beyond India 331 • Growth led by 19% increase in basmati realization. Revenue in Rs. Crore for Q4 FY23 • Total value of goods dispatched during the year but Trend in Export Business revenue yet to be recognized pending receipt of payment at the end of the quarter was at Rs 441 cr as again
Slide 29: Exports Brand Portfolio
Exports Brand Portfolio 28
Slide 30: 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 31: 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 the r
Slide 32: 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 33: Contact Us / Safe Harbor
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 34: Thank You
Thank You *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’22