Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — Q1 FY23 Earnings Presentation
35 slides from Mrs. Bector's Food Specialities's earnings presentation, Aug 10, 2022
Slide 1: Cover letter to stock exchanges
MBFSL/CS/2022-23 10th August, 2022 To, To, Department of Corporate Relations, National Stock Exchange of India Ltd, BSE Limited, Exchange Plaza, C- 1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai – 400001 Mumbai– 400051 Scrip Code : 543253 Scrip Symbo
Slide 2: Investor Presentation August 2022
INVESTOR PRESENTATION August 2022
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Mrs. Bectors Food Specialities Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or i
Slide 4: Q1FY23 Financials
ONE STOP DESTINATION FOR a . nich tacsté an crtanchiness CREMICA QIFY23 Financials
Slide 5: Segment Wise Revenues
Q1 FY23 Performance Highlights (YoY and 24 months comparison) Revenue from Operations* Biscuit Segment Bakery Segment Segment Wise Revenues 301 178 107 (Rs. Crs.) 141 144 +24% 226 +33% +56% 203 69 50 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY21 Q1 FY22 Q1 FY23 Q1 FY21 Q1 FY22 Q1 FY23 • Bakery segment revenue sto
Slide 6: Q1 FY23 Performance Highlights (YoY & QoQ)
Q1 FY23 Performance Highlights (YoY & QoQ) Revenues EBITDA Profit After Tax EBITDA stood at Rs. 31 crores, 300.8 29.1 31.3 13.3 12.7 resulting in growth of 23% qoq . 252.3 +19% 25.4 +23% 10.2 +25% EBITDA margin for Q1FY23 was 226.4 10.4% as compared to 10.1 % same quarter last year. Q1 FY22 Q4 FY22
Slide 7: Profit & Loss Statement – Q1 FY23
Profit & Loss Statement – Q1 FY23 Profit & Loss Statement (Rs. Crs.) Q1 FY23 Q1 FY22 Y-o-Y Q4 FY22 Q-o-Q Revenue from Operations 300.8 226.4 32.9% 252.3 19.2% Cost of Materials Consumed 166.8 125.5 135.4 Changes in Inventories of Finished Goods and Work in Progress -1.3 -1.3 -1.5 Purchase of stock-i
Slide 8: Expansion Projects – Completed & Ongoing
Expansion Projects – Completed & Ongoing • The Company has invested on another Biscuit line from the IPO Proceeds of Rs. 40.5 crores to finance the cost 1 Biscuit Line of Rajpura Expansion Project. The new production line of Biscuits has started its Commercial Production with at Rajpura (Punjab) an
Slide 9: Company Overview
COMPANY OVERVIEW
Slide 10: Our founder Mrs. Rajni Bector conferred with Padma Shri
Our founder Mrs. Rajni Bector conferred with Padma Shri Mrs. Rajni Bector conferred with Padma Shri for her contribution to trade and industry I feel blessed and express my gratitude to the central government for recognising my services. I am feeling honoured and want to thank my family, children, a
Slide 11: Mrs. Bector's at glance
Mrs. Bector’s at glance Digestives + Crackers + Cookies + Cream + Marie Pursuant to Brand separation Biscuits agreement, “Mrs. Bector’s Cremica” Brand is exclusive to Mrs. 1 + Private Label Bectors Food Specialities Limited for Biscuits Developed the brand “English Oven” for the Branded breads & Bra
Slide 12: Our business segments
Our business segments Biscuits Bakery Products Domestic Exports Consumer Bakery Institutional Bakery 4.5% of the premium and ~12% share of the total 5% market share in the 11% market share in semi Market Share^ mid-premium biscuits exports of biscuits from India Branded Breads Segment in processed a
Slide 13: Distinguished brand created over the years
Distinguished brand created over the years Significant investments made over the last few years to establish and enhance capacities and premiumization of product portfolio • Brand Separation MOU - “Mrs. Bector’s • Green field investment made at Rajpura Cremica” brand for Biscuit's business & Facilit
Slide 14: Automated state of art manufacturing units
Automated state of art manufacturing units Equipped with advanced modern technology and Stringent Quality Controls automated systems Invested Rs. 374 crores between FY18 to FY22 to build capacities with superior capabilities Specifically, sourced best in class equipment from Denmark, Germany, US and
Slide 15: Strategically located for efficient distribution
Strategically located for efficient distribution Phillaur, Punjab Greater Noida, UP ▪ Biscuits – 27,000MT ▪ Bread and bakery –95 (Mn packs) ▪ Contract Manufacturing – 27,000MT ▪ Buns – 346 (Mn packs) ▪ Frozen products – 12 (Mn packs) Tahliwal, HP ▪ Biscuits – 34,200MT Rajpura, Punjab Dhar (MP) Manuf
Slide 16: Biscuit Division
BISCUIT DIVISION
Slide 17: One of the Leading Biscuit Brands in North India
One of the Leading Biscuit Brands in North India… ‘Mrs. Bector’s Cremica’ is one of the leading biscuit brands in the premium and mid-premium segment in North India Danish Cookies Creams Crackers Digestives Cookies Launched new products such as ‘Trufills’, ‘Premium Sugar and Company has a strong pre
Slide 18: With a PAN India Distribution Network
… with a PAN India Distribution Network… Sales Automation tool to track distribution on real time Strong Multi Channel ▪ Enables company to track the real time coverage, sales Distribution Network* efficiencies & effectiveness, and working discipline of its distribution network ▪ Helped increase pro
Slide 19: Export business – Long runway for growth
Export business – Long runway for growth 25% + Increase penetration in 63 ~45% select export markets - South, Central and Have set up a subsidiary in UAE to Focus is on increasing premiumization in North America, the cater MENA and Exporting Share in the Indian Export under export market MENA region
Slide 20: Immense Industry Potential in the Biscuit Market
Immense Industry Potential in the Biscuit Market Growth in Biscuit Market (Rs. Bn.) Low per capita spending on biscuits Per Capita Consumption (Kg/Year) Branded Biscuits Others Per capita consumption of biscuits in India has significantly increased in the last 5 years +9% 620 13.6 However, it is far
Slide 21: Bread & Bakery Division
BREAD & BAKERY DIVISION
Slide 22: Fastest growing premium Bakery brand in India
Fastest growing premium Bakery brand in India Brown Speciality Indian Western White Bread Sub Bread Indulgence Bread Breads Breads Bread Sales of products sold under the brand name ‘English Oven’ grew faster than industry between FY15 to FY22 Widespread Distribution One of the few bakery companies i
Slide 23: Preferred Supplier to Largest QSR Franchises in India
Preferred Supplier to Largest QSR Franchises in India Company is a leading player in the institutional bakery segment Key Success Factors: Dedicated lines for manufacturing buns to serve QSR Stringent quality control and compliance with standards customers Industry best practices such as use of prem
Slide 24: Growth Potential in Bread & Bakery Business
Growth Potential in Bread & Bakery Business Indian Breads & Buns Market Indian Bread Market size was Rs. 50 bn in FY20 of Chain QSR Market (Rs. Bn.) (Rs. Bn.) which premium category currently has a share of ~16% and is projected to grow at a rate of 15% for the next 5 years +23% +9% 524 76 +9% • QSR
Slide 25: On ground brand building initiatives
On ground brand building initiatives Branding Activities Digital Marketing YouTube Merchandising In-Shop Mrs. Bectors Food Specialities Limited 24
Slide 26: Well positioned to capture growth
Well positioned to capture growth Right • Competitively well positioned across both segments – Biscuits & Breads and Bakery segment Business Mix Focus on • Significant increase in the price realization of Company’s products across all business segments; Premiumization • Continued focus on increasing
Slide 27: Historical Financials
ONE STOP DESTINATION FOR a . nich tacsté an crtanchiness CREMICA Historical Financials
Slide 28: Segment Performance Highlights
Segment Performance Highlights Revenue from Operations Segment Wise Revenues (Rs. Crs.) Biscuit Segment Bakery Segment 988 339 881 +12% 784 +31% 762 592 261 259 574 +3% 517 213 451 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 * Total Revenue includes revenue from other (contract manuf
Slide 29: Historical Financials
Historical Financials Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 988 141 72 881 123 784 762 57 96 93 33 30 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 FY19 FY20 FY21 FY22 Gross Profit Margins EBITDA Margins PAT Margins 47.6% 16.0% 8.2% 46.5% 12.3% 12.2% 12.4% 5.8% 45.9% 4.2% 4.0% 44.2% FY19 FY
Slide 30: Balance Sheet strength
Balance Sheet strength Net Debt to Equity 0.5 0.3 Working Capital (in Days) 0.1 0.1 Working 35 33 30 42 Capital (in Days) Mar-19 Mar-20 Mar-21 Mar-22 52 47 Cash Flow from Operations (Rs. Crs.) 42 42 45 45 39 38 36 109 110 30 30 28 84 54 Mar-19 Mar-20 Mar-21 Mar-22 Inventory Debtors Creditors FY19 FY
Slide 31: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY22 FY21 Mar-20 Mar-19 Revenue from Operations 988.2 880.7 762.1 783.7 Cost of Materials Consumed 536.0 467.8 411.3 406.8 Purchase of stock-in-trade 15.6 0.6 0.4 13.4 Changes in Inventories of Finished Goods and Work in Progress
Slide 32: Historical Balance Sheet
Historical Balance Sheet EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19 Equity Equity share capital 58.8 58.7 57.3 57.3 Other equity 410.2 372.5 262.2 237.5 Total equity 469.0 431.2 319.4 294.8 Non-current liabilities Financial liabilities (i) Borrowings 88.0 114.8 85.7 10
Slide 33: Historical Balance Sheet
Historical Balance Sheet ASSETS (Rs. Crs.) 31-Mar-22 31-Mar-21 31-Mar-20 31-Mar-19 Non-current assets Property, plant and equipment 391.4 339.7 337.6 344.3 Capital work-in-progress 11.9 55.3 6.7 15.6 Right-of-use assets 19.2 14.2 15.3 16.8 Goodwill 0.4 0.4 0.4 0.4 Other intangible assets 0.2 0.0 0.6
Slide 34: Historical Cash Flow Statement
Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-22 Mar-21 Mar-20 Mar-19 Cash Flow from Operating Activities Profit before Tax 75.7 97.1 39.0 50.6 Adjustment for Non-Operating Items (46.5) (47.4) (61.8) (51.6) Operating Profit before Working Capital Changes 122.2 144.5 100.8 102.3 C
Slide 35: Thank You
THANK YOU Company: CIN: L74899PB1995PLC033417 Mr. Parveen Kumar Goel Chief Financial Officer parveen.goel@bectorfoods.com Investor Relations Advisors : Mr. Irfan Raeen Mr. Ashish Chovatia +91 97737 78669 +91 99300 44680 irfan.raeen@linkintime.co.in ashish.chovatia@linkintime.co.in
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