Foods & Inns Ltd. · NSE:FOODSIN
Foods & Inns — Q3 FY2024 Earnings Presentation
34 slides from Foods & Inns's earnings presentation, February 2024
Slide 1: Foods & Inns Investor Presentation Feb'24
Foods & Inns Investor Presentation — Feb’24 > >| — [e] greeniop : a ereenlop © ANRITSARI DAL CHHO LE » ys 1008 EST. 1972 [e] MAKHANI ~z | | east MASALA = RIDE OF EVERY INDIAN KITCHEN ara fat rere (3 at) 1 Ua ee RED CHILLI POWDER 4 (MEDIUM HOT) CoN ADGI ORIGIN
Slide 2: Disclaimer
wd Disclaimer Foods & Inns This presentation and the accompanying slides (the “Presentation”), which have been prepared by Foods & Inns (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 3: Table Of Content
9 yy Table Of Content © 01 02 Q3FY24 Highlights Company Overview 03 04 Business Verticals \o- Financials r) Foods & Inns | Q3FY24 Presentation
Slide 4: Q3FY24 Highlights
Q3FY24 Highlights
Slide 5: Financial Updates
wv yy Financial Updates Foods & Inns Revenue EBITDA & EBITDA Margin PAT & PAT Margin 679 Cr* 86 Cr 32 Cr 4% 1.7% YoY &» 28.7% YoY Y 2.7% YoY Impacted due to lower call offs Margin up 267 Bps to 12.7% Margin maintained at 4.6% in Q2 & Q3 FY24 152 Cr 20 Cr 4Cr § 24.7% YoY ¥ 49% YoY ¥ 66.3% YoY While r
Slide 6: Operational Updates
yy Operational Updates Foods & Inns Revenue Mix (In Cr) Total Sales (MT) 17,001 199 15,215 Sales Volume (MT) Commentary * Pulping volumes impacted in Q3FY24 on / / account of lower call-offs till Dec’23 for Mango Q3FY23 Q3FY24 Q3FY23 Q3FY24 Pulp. ™ Mango Pulp Other Pulp Others ® Total m™ Domestic ME
Slide 7: Business segment updates
v ’ Foods & Inns Fruits And Vegetable Pulping: Processed lower quantities of Guava and Tomato in Q3FY24 due to lower crops in Nashik and Latur region. Unseasonal rain damaged some of the vegetable crops which we were processing for export markets. Spray Dried Powders: Onboarded new clients this quar
Slide 8: Profit & Loss Highlights
Profit & Loss Highlights Foods & Inns Consolidated (Rs Cr) Q3FY24 Q3FY23 YoY OP a OZ.) QoQ 1 ee} 9MFY23 YoY Revenue from Operations 150 199 237 675* 664 Other Income 2 2 0 4 4 Total Income 152 201 -24.72% 237 -36.03% 679 668 1.66% Raw Material Costs 58 96 142 613 639 Changes in inventories 38 42 19
Slide 9: Key Focus Area For Growth
wv yy Key Focus Area For Growth Foods & Inns (E28) A Core Business Restructured Market Expansion Searle ia of Pulping Brand Portfolio * Continued focus on * Focus on growing brand Continuously adding The Pectin Project: capitalizing on the sales in each of the newer geographies, Invested and set up
Slide 10: Foods & Inns Positioning in its Business Segment (1/2)
Y yy Foods & Inns Positioning in its Business Segment (1/2) Foods & Inns Global Industry India’s Share in AS eee F&I’s Sales Tris Global Industry Global Industry Tare} Te 5,08,000 MT Mango Pulping (Rs 5,250 Cr) 79-80% ~15% “Rs 800 Cr Growing consistently 46,19,141 MT Significant headroom for growth
Slide 11: Foods & Inns Positioning in its Business Segment (2/2)
wv yy Foods & Inns Positioning in its Business Segment (2/2) Foods & Inns ( ~ eee * Growth opportunity for India due to the energy crisis led production disruption in Europe which has ~25% share globally. ¢ F&I has doubled its capacity in Mar-23 to 1,100 MT; It is a High Margin and High RoCE busines
Slide 12: Company Overview
Company Overview
Slide 13: Pioneer In High-quality Food Processing
x yy Pioneer In High-quality Food Processing Foods & Inns Foods and Inns is recognized as one of India’s largest processor and exporter of processed fruit & vegetable products. We primarily manufacture and sell a variety of processed tropical Fruit & Vegetable Pulps, Purees, Spices, Spray Dried Powd
Slide 14: Our Growth Story
wv yy Our Growth Story Foods & Inns 1980 2000 2019 2023-24 Acquisition of fruit First company _ to Acquisition of branded Commissioned new Tetra Recart canning line in Valsad, introduce mono block spice company Kusum facilityat Gujarat. Gujarat from Coca-Cola PLC and multi-tube Masala, foray into B2
Slide 15: State-of-the-Art Self Owned Facilities
wd yy 7 State-of-the-Art Self Owned Facilities Foods & Inns DIET aa aaah ay Product Line Aseptic Gonde, Nashik* Spray Drying Spices Maharashtra i (2 owned + 1 leased) Sinnar, Nashik Frozen Foods Aseptic Ahmednagar (leased) Concentrate Valsad Aseptic Canning Gujarat (2 owned units) Andra Pradesh . As
Slide 16: Product-wise Capacity Details
x) yy Product-wise Capacity Details Foods & Inns Location Product Line TTA NACE) Spray Drying 0.25 . Spice Plant: Nashik - Gonde Blending 150 Grinding 1.00 ETO 0.50 Maharashtra Nashik - Sinnar Frozen Vegetables 0.7 Frozen Snacks 0.5 Frozen Breads 0.25 Frozen Puree 2 Ahmednagar (Leased plant) Aseptic
Slide 17: The Pectin Project
wv Y Foods & Inns The Pectin Project Creating Wealth from Waste: im | NHI HATA HII || ——— a ee —— ‘Saaly — ¢ We have set up a manufacturing unit to | si | process fruit waste including mango : aa 2 5 Sara = waste and manufacture Pectin, Oils and . \ . Butter. The total cost is at ~ Rs 10 Cr * Ist Ph
Slide 18: Certifications
v > Foods & Inns SMETA“ Sede? YX SAI © PLATFORM _ () FSSC 22000 WA w/in W USDA \ rab FDA FOOD SAFETY BRC FAIRTRADE nongmoproject.org SS fanaa Id 18
Slide 19: Marquee Customers and Well-Diversified Market Presence
yy Marquee Customers and Well-Diversified Market Presence @ y Foods & Inns Chola 2 PEPSICO SON ETRENG Nestle Market-Wise Revenue share in FY23 A. 1.1% I[ 0.1% 1.5% a LACNOR| 0.7% aper. 0.5% \ \ — Seat drinks and memories = US = Canada symrise GY Kraft Heinz epigamia GREEK YOGURT = UK = Europe = Midd
Slide 20: Experienced Management With Oversight By Strong Board
wv Experience Management With Oversight By Strong Board Foods & Inns Mr. Bhupendra Dalal Chairman Non-Executive, Non-Independent Director Holds a degree of B.Com & L.L.B. worked towards acquisition of fruit canning plan at Valsad built by Coca-Cola Corporation. F&I changed its course to become a maj
Slide 21: Sustainability Agricultural Initiative
v yy Sustainability Agricultural Initiative Foods & Inns Sustainable agriculture entails environmental protection, responsible farm management and human and workplace rights. We have run programs with the IDH (Sustainable Trade Initiative) of the Netherlands to help smallholder mango farmers produce
Slide 22: Business Verticals
Business Verticals
Slide 23: Fruits And Vegetable Pulping
x) yy Fruits And Vegetable Pulping Foods & Inns Mango Pulp: Mainstay of the Company, contributing ~82% of overall revenues (FY23). Well established business which involves processing a wide variety of mangoes like Alphonso, Kesar, Totapuri, etc. Other Pulp: To improve our asset utilization and absor
Slide 24: Spray Drying
) yy Spray Drying © Foods & Inns = Food Preservation Technique: Converts fruits & vegetables from Liquid form to high-quality Powder form, having low moisture content. The process involves breaking up a liquid or slurry food ingredient into small droplets using a spray nozzle and bringing it into co
Slide 25: Frozen Food
x) yy Frozen Food © Foods & Inns = Our Offerings: Wide range of premium frozen fruits, vegetables, snacks, and flatbreads made with high-quality, contract-grown ingredients that are frozen using advanced IQF technology. We cater to global brands and large-format modern retail through the private lab
Slide 26: Spices & Masala Segment
wv Foods & Inns = Kusum Spices: In FY19, we acquired Kusum Spices to gain a foothold in India’s large and growing Spices Market. The Company has a legacy of over 50 years of selling Indian Spices in domestic and export of USFDA approved products to 12 countries including the US, UK, Oman, and UAE =
Slide 27: Emerging Verticals For FNI
w Emerging Verticals For FNI Foods & Inns B2C: Via Restructured Brands Consolidated our strategy and will market our consumer division products under the brand Greentop, Kusum, and Madhu to house an interesting range of products in the vertical of frozen food, plant-based high-protein foods, fruit a
Slide 28: Annual Financials
Annual Financials
Slide 29: Operational Highlights
) yy Operational Highlights © Foods & Inns Total Sales (IMT) Total Sales Mix (MT) Revenue Break-up (Rs Cr) mExport mDomestic @ Total m™ Mango Pulp ® Other Products m™ Pulping m Others 103,467 78,379 46,220 . FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY21 FY22 FY23 Robust growth in the core and well-establi
Slide 30: Consistent Growth In Revenue And Profitability
9 yy Consistent Growth In Revenue And Profitability © Foods & Inns Total Income (Rs Cr) EBITDA (Rs Cr) & Margin (%) PAT (Rs Cr) & Margin (%) 10.1% 4.7% 2.4% 8.5% 1.0% FY21 FY22 FY23 FY21 FY22 FY23 FY21 FY22 FY23 Working Capital (Days) ROE & ROCE (%) Debt/Equity (times) —=@=ROE =®=ROCE 18.8% 181 1.09
Slide 31: Profit & Loss Highlights
Profit & Loss Highlights Foods & Inns Consolidated (Rs Cr) FY21 ey Pe 2 YR CAGR (%) Revenue from Operations 371 632 996 Other Income 11 6 6 Total Income 381 639 1,002 62% Raw Material Costs 227 481 791 Changes in inventories 16 -69 -90 Purchases of Stock-in-Trade 1 0 0 Employee Expenses 23 31 40 Oth
Slide 32: Balance Sheet Highlights
Balance Sheet Highlights Foods & Inns Liabilities (Rs Cr) Mar-21 Mar-22 EXSY oe OM Og] Mar-21 Mar-22 Mar-23 Sep-23 Total Equity 182 197 312 357 Non-Current Assets 160 211 256 274 Share Capital 5 5 5 5 Plant, Property & 113 111 156 162 Equipment Other Equity 177 192 307 351 ; Right of use of Assets 0
Slide 33: Share Price Information
Share Price Information Foods & Inns 250 7,000 225 6,000 200 wv Oo 2 175 5,000 8 = 150 4,000 £ S 125 2 2 400 3,000 3 75 2,000 = 50 35 | ] ly il 1,000 Ben mene cn bc AA Aha a Aa hl Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan-24 C—7Volume (# Shares) ==Share
Slide 34: Let's Connect
yy Let’s Connect Mr Anand Krishnan wv Chief Financial Officer Foods & Inns Ltd. Phone: +91 22 22613102 anand@foodsandinns.com Foods & Inns Pooja Sharma / Suyash Samant 3Y STELLARInvestor Relations Stellar IR Advisors Pvt. Ltd. Phone: +91 22 62398024 pooja.sharma@stellar-ir.ccom suyash@stellar-ir.com