Allied Blenders And Distillers Limited · NSE:ABDL
Allied Blenders And Distillers — Q2 FY2025 Earnings Presentation
46 slides from Allied Blenders And Distillers's earnings presentation, Oct 30, 2024
Slide 1: Exchange cover letter: revised Q2FY25 investor presentation
October 30, 2024 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1, Block G, Dalal Street Bandra Kurla Complex, Mumbai - 400 001 Bandra (E), Mumbai - 400 051 Scrip Code (BSE): 544203 Symbol: ABDL Sub: Investor Presentation – Q2FY25 Results Present
Slide 2: Q2FY25 Earnings Presentation
Q2FY 25 October 2024 E A R NI NGS P R E S E NTAT ION
Slide 3: Index
INDEX Q2FY25 PERFORMANCE 3 ABD FUTURE READY FRAMEWORK 11 COMPANY OVERVIEW 18 ANNEXURE 39
Slide 4: Q2FY25 Performance
Q2FY25 Performance
Slide 5: Q2FY25 Performance Snapshot
Q2FY25 PERFORMANCE SNAPSHOT (DELIVERS OVERALL STRONG PERFORMANCE IN THE FIRST QUARTER POST IPO) +14.8% QoQ +38.8% QoQ 212 bps QoQ vs ₹ 11 Cr. in Q2FY24 +5.3% YoY +46.6% YoY 367 bps YoY & Q1FY25 Financial Highlights ₹ 2,031 Cr. ₹ 105 Cr. 12.1 % ₹ 48 Cr. Total Income EBITDA EBITDA Margin PAT Improving
Slide 6: Delivers overall strong performance in the first quarter post IPO
DELIVERS OVERALL STRONG PERFORMANCE IN THE FIRST QUARTER POST IPO EBITDA (₹ Cr.) & EBITDA MARGINS (%) Net Revenue from Operations (₹ Cr.) 14.5% 12.1% 897 870 852 10.0% 815 772 770 759 8.4% 8.1% 6.5% 6.5% 6.9% 105 72 76 62 62 50 53 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 Q4 FY23 Q1 FY
Slide 7: Key Segmental Highlights (Q-o-Q)
KEY SEGMENTAL HIGHLIGHTS (Q-o-Q) OVERALL STRONG VOLUME GROWTH LED BY P&A CATEGORY.. P&A Revenues (₹ Cr.) P&A Volume (In Mn Cases) P&A Realisations (₹ /Case) 408 26.7% 2.5% 1,234 1,203 322 23.5% 3.3 2.7 Q1-FY25 Q2-FY25 Q1-FY25 Q2-FY25 Q1-FY25 Q2-FY25 Mass Premium Revenues (₹ Cr.) Mass Premium Volume
Slide 8: Key Segmental Highlights (Y-o-Y)
KEY SEGMENTAL HIGHLIGHTS (Y-o-Y) IMPROVED STATE BRAND MIX DRIVING REALIZATIONS AND PREMIUMIZATION.. P&A Revenues (₹ Cr.) P&A Volume (In Mn Cases) P&A Realisations (₹ /Case) 408 363 12.4% 3.4% 1,234 1,193 3.0 8.7% 3.3 Q2-FY24 Q2-FY25 Q2-FY24 Q2-FY25 Q2-FY24 Q2-FY25 Mass Premium Revenues (₹ Cr.) Mass
Slide 9: Consolidated Income Statement
CONSOLIDATED INCOME STATEMENT Particulars (₹ Cr.) Q2FY25 Q1FY25 Q-o-Q Q2FY24 Y-o-Y H1FY25 H1FY24 Y-o-Y Total Income 2,031 1,769 14.8% 1,929 5.3% 3,800 3,838 (1.0%) Excise duty 1,161 1,009 15.1% 1,077 7.8% 2,171 2,171 (0.0%) Income from Operations 870 759 14.5% 852 2.1% 1,629 1,667 (2.3%) Cost of Goo
Slide 10: Operational Highlights
OPERATIONAL HIGHLIGHTS (DELIVERS STRONG OPERATIONAL PERFORMNCE IN FIRST QURATER POST IPO) Income from Operations at ₹ 870 Cr in Q2FY25: • Improvement in ability to service demand post strengthening of balance sheet with IPO proceeds • Higher by 14.5% vs ₹ 759 Cr in Q1FY25 mainly due to growth across
Slide 11: Outlook
OUTLOOK Industry Outlook: • Expect uptick in consumer sentiments led by festive season • AP state opening up benefiting all established pan India players • Experience-driven consumption is propelling the P&A category, leading to significant growth fueled by high demand • Input Cost - Grain & ENA pri
Slide 12: Gearing up for ABD Future Ready Framework: Key Strategic Initiatives
KEY STRATEGIC INITIATIVES UNDERTAKEN New Business Venture To Offer Premium-to-Luxury Portfolio Partnership with Roust Corporation - Introduce World's #1 Russian Premium Vodka in India Supply Chain Security - Improve Profitability through Enhancing Backward Integration Capabilities Broadening Horizon
Slide 13: Premium to Luxury Portfolio Build Up
PREMIUM TO LUXURY PORTFOLIO BUILD UP New Business Venture To Offer Premium-to-Luxury Portfolio • Bollywood Superstar and Pop Culture Icon – RANVEER SINGH – Business & Creative Partner • Blending world-class products, sourcing and craftmanship with rich, vibrant flavors of India • Quick decision-maki
Slide 14: Partnership with Roust Corporation
PREMIUM TO LUXURY PORTFOLIO BUILD UP Partnership with Roust Corporation ABD partners with Roust Corporation to introduce the world's No. 1 Russian Premium Vodka to India. KEY HIGHLIGHTS: • Market Leader: Russian Standard holds a 30% share in Russia's premium vodka market and is exported to over 85 c
Slide 15: Broadening Horizons: Expanding Export Markets
BROADENING HORIZONS: Expanding Export Markets Russia Lebanon Bahrain Qatar Mali Haiti Oman Burkina Faso UAE Thailand Ghana Nigeria Togo Malaysia Gabon Kenya Maldives Singapore Republic of Congo Indonesia Democratic Republic of Congo Mozambique - Existing Markets - New Markets Expanded to 22 countrie
Slide 16: Supply Chain Security – Backward Integration Capabilities
SUPPLY CHAIN SECURITY – IMPROVE PROFITABILITY BY ENHANCING BACKWARD INTEGRATION CAPABILITIES ABD Board Approves following key strategic initiatives Further Improve Backward Integration Capabilities Acquisition of a 11 mn litres pa ENA unit* & • Acquire or build additional distilleries capacity expan
Slide 17: Enhancing Governance Framework
ENHANCING GOVERNANCE FRAMEWORK Deloitte* appointed to strengthen Enterprise Risk Management • Centralized Compliance: Streamlines compliance across all locations. Framework Deploy “Komrisk”, a cutting-edge regulatory compliance management • Improved Framework: Provide us with cutting-edge tools and
Slide 18: ABD Future Ready Framework
ABD FUTURE READY FRAMEWORK Enhancing Shareholder Value Creation through: Value Added Portfolio Sustainable Profitable Growth Business Model PremBrands Build up & • Topline growth ahead of Industry Margin Enhancement • Premium-to-Luxury Portfolio built up • Grow market share of existing 4 millionaire
Slide 19: Company Overview
Company Overview
Slide 20: Snapshot
SNAPSHOT 3rd largest spirits 17 33 79,000+ company in India by annual IMFL brands Manufacturing facilities retail outlets Pan-India sales volume 1 Distillery 32 bottling units pan India 22* 4 #3 #1 Countries of export; Millionaire brands Largest selling whisky brand Fastest growing spirits brand Lea
Slide 21: Company Overview
COMPANY OVERVIEW • 3rd largest spirits company in terms of annual sales volumes in India since FY2014 Revenue from Operations ( ₹ Cr.) • Experienced management team with significant industry & multi sector expertise 7,669 7,197 7,106 • First flagship brand, Officer’s Choice Whisky, launched in 1988
Slide 22: Key Milestones
KEY MILESTONES 2001 2017-19 2024 Officer’s Choice Whisky Expanded offering to prestige franchise ranked 3rd among segment with launch of two the largest selling whisky Forayed into Rum and new brands – Jolly Roger rum Entered premium and brands globally in CY2021 Launch of ZOYA Gin in luxury Brandy
Slide 23: Core Pillars of Success
CORE PILLARS OF SUCCESS Strong brand recognition with successful launches in prestige and above category Strategically located, large scale and advanced manufacturing facilities with a sophisticated research and development centre Access to extensive pan-India distribution network with ability to sc
Slide 24: Diversified Product Portfolio
DIVERSIFIED PRODUCT PORTFOLIO Whisky Brandy Rum Gin Vodka 23
Slide 25: Premiumising Portfolio
PREMIUMISING PORTFOLIO CONTINUOUSLY CRAFTING EXCELLENCE Increasing P&A Contribution (Volume) • Strategic focus towards premiumization • Well established brands across all categories in the prestige and above (P&A) category • Only company to launch two millionaire brand in last 10 P&A, P&A, 25.0% 37.
Slide 26: Portfolio of Brands
PORTFOLIO OF BRANDS SEGMENT TO WHISKY BRANDY RUM VODKA GIN CATEGORY LUXURY PREMIUM SEMI PREMIUM PRESTIGE MASS PREMIUM 25
Slide 27: World Class Manufacturing Facilities
STRATEGICALLY LOCATED WORLD CLASS MANUFACTURING FACILITIES 1 DISTILLERY 9 60.00 Mn liters Owned Jammu and Annual Distillation Capacity 5 Kashmir Sansarpur Purkhali 32 Bottling Third Party Derabassi Haridwar Ambala 25.8 Mn, 64.9% Exclusive Muzaffarnagar Hapur 18 Naharlagun Owned Jodhpur Guwahati Bari
Slide 28: Pan-India Distribution Network with Ability to Scale
PAN-INDIA DISTRIBUTION NETWORK WITH ABILITY TO SCALE Multiple Route-to-market Capabilities Cover All Channels Including Open Market, Part Corporation Market And Full Corporation Market 30+ EXPORTS States and UTs • Leading exporter of IMFL 79,329 Ludhiana Chandigarh • Exports to 14 countries includin
Slide 29: Board of Directors (1/2)
BOARD OF DIRECTORS STEWARDSHIP & EXPERTISE (1/2) KISHORE BINA ALOK SHEKHAR RESHAM CHHABRIA BALAJI VISWANATHAN PAUL RAJARAM CHHABRIA KISHORE CHHABRIA GUPTA RAMAMURTHY JEETENDRA HEMDEV SWAMINATHAN HENRY SKIPWORTH Chairman & Non-Executive Director Managing Director Whole-Time Director Whole-Time Direct
Slide 30: Board of Directors (2/2)
BOARD OF DIRECTORS STEWARDSHIP & EXPERTISE (2/2) VIVEK RUKHSHANA NARAYANAN MEHLI NASSER MUKHTAR MANECK ARUN ANILCHAND SETT JINA MISTRY SADANANDAN MANECK GOLVALA MUNJEE NAVEL MULLA BARIK Independent Director Independent Director Independent Director Independent Director Independent Director Non-Indep
Slide 31: Senior Management Team (1/2)
SENIOR MANAGEMENT TEAM INDUSTRY & MULTI SECTOR EXPERIENCE (1/2) ALOK ANIL MANOJ BIKRAM JAYATHIRTHA GUPTA SOMANI RAI BASU MUKUND Chief Innovation and Strategy Head – Investor Relations and Managing Director Chief Financial Officer Chief Revenue Officer Officer Chief Risk Officer Joined ABD In 2023, w
Slide 32: Senior Management Team (2/2)
SENIOR MANAGEMENT TEAM INDUSTRY & MULTI SECTOR EXPERIENCE (2/2) MITHUN RAJESH RALIN RITESH VARUN KUMAR DAS PARIDA DA CUNHA GOMES RAMNIKLAL SHAH LOHIA Head – Director – Chief Human Company Secretary Head- Supply chain and Manufacturing & Technical Corporate Affairs & CSR Resources Officer & Chief leg
Slide 33: The Millionaires Club - June 2024
THE MILLIONAIRES CLUB - JUNE 2024 (3 MILLIONAIRE BRANDS AMONGST THE LEADING BRANDS GLOBALLY) OFFICER’S ICONIQ STERLING CHOICE WHITE RESERVE 6 24 largest spirits th Fastest growing th largest spirits brand in the world spirits brand in the world brand in the world 3 rd largest whisky 14 th largest wh
Slide 34: Officer's Choice
OFFICER’S CHOICE 3 rd LARGEST SELLING WHISKY BRAND GLOBALLY IN CY2023 • Flagship brand continues to maintain market AWARDS leadership in mass premium category • Highest gross margin brand in the existing portfolio • Major move towards sustainability by moving from glass to food grade PET and aseptic
Slide 35: Officer's Choice Blue
OFFICER’S CHOICE BLUE MILLIONAIRE BRAND IN THE PRESTIGE CATEGORY OFFERING DISTINGUISHED AND APPEALING CHOICE AWARDS • Continues to enjoy position as a regional power brand in the P&A segment • Towards the ABD portfolio distribution strength in off-premise segment. • Leverages on the strength of flag
Slide 36: Sterling Reserve Blend 7
STERLING RESERVE BLEND 7 MILLIONAIRE BRAND OFFERING A UNIQUE BLEND OF SCOTCH MALTS AND INDIAN GRAIN SPIRITS • Amongst the fastest brands to cross the million AWARDS case mark and reach 5 Mn cases • Ready to re-juvenate the market with its all- new avatar launching in the coming months • Consistently
Slide 37: ICONiQ White
ICONIQ WHITE ACHIEVING GLOBAL RECOGNITION IN ~15 MONTHS OF LAUNCH • Touched 1 Mn cases in Sep’23 – 1 year after it was progressively launched in different states AWARDS • 2 Mn cases milestone in 1st full year of launch (FY24) • ICONiQ White Whisky - world's fastest growing spirits brand in CY2023 as
Slide 38: Kyron
KYRON UNIQUELY POSITIONED IN HIGH GROWTH, HIGH MARGIN PREMIUM BRANDY CATEGORY AWARDS • Premium brandy from ABD, renewed focus to improve brand footprint by extending into more states • Deeper penetration in existing states to gain market share • Limited edition Kyron to be launched in Q3 FY25 Sales:
Slide 39: Zoya
ZOYA FORAY INTO THE PREMIUM TO LUXURY SEGMENT • 1st non whisky brand launched in high growth, high AWARDS margin category • Gross Margin % ~2x of the existing product portfolio • Launched in 4 key states of Haryana, Maharashtra, Rajasthan and Goa • Additional key markets & two new flavors are planne
Slide 40: Annexure
Annexure (Mirra i : lly ‘IcoNie ar a) (choice STERN op WHITE srishli ¥:
Slide 41: Financial Summary
FINANCIAL SUMMARY Net Revenue from Operations (₹ Cr.) Gross Margin (₹ Cr.) 39.5% 39.4% 1,230 3,334 1,173 3,158 1,057 2,697 927 2,367 37.3% 37.0% FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Gross Margin Gross Margin % EBITDA (₹ Cr.) PAT (₹ Cr.) 248 2.5 213 208 0.1% 196 9.1% 1.8 1.5 1.6 7.7% 7.5%
Slide 42: Consolidated Balance Sheet
CONSOLIDATED BALANCE SHEET Particulars (₹ Cr.) FY24 H1-FY25 Particulars (₹ cr.) FY24 H1-FY25 ASSETS EQUITY AND LIABILITIES Non-Current Assets Equity Property, Plant & Equipment 446 428 Capital Work in progress 16 24 Share Capital 49 56 Rights of Use Assets 122 121 Other Equity 358 1,354 Goodwill 4 4
Slide 43: Consolidated Cash Flow
CONSOLIDATED CASH FLOW Particulars (₹ Cr.) FY24 H1-FY25 Cash and Cash Equivalents at Beginning 28 27 of the year Cash Flow From Operating Activities 186 (729) Cash Flow from Investing Activities (55) (37) Cash Flow From Financing Activities (132) 793 Net Inc./(Dec.) in Cash and Cash (1) 27 Equivalen
Slide 44: KPI Summary
KPI SUMMARY Particulars (INR Cr.) FY24 H1 FY25 Revenue From Operations 7,669 3,796 Total Income 7,675 3,800 EBITDA 248 181 EBITDA Margin (%) 7.50% 11.15% PAT 1.8 58.8 PAT Margin (%) 0.1% 3.6% ROE (%)* 0.5% 3.2% ROCE (%)* 16.4% 14.5% Licensed Capacity (Mn cases) of Own Bottling Units for the period 2
Slide 45: Disclaimer
DISCLAIMER Allied Blenders and Distillers Ltd. This document contains ‘forward-looking’ statements. These statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express forecasts, exp
Slide 46: Thank You
Allied Blenders and Distillers
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