Krbl Limited · NSE:KRBL
Krbl — Q1 FY2023 Earnings Presentation
25 slides from Krbl's earnings presentation, Aug 8, 2022
Slide 1: Cover letter to stock exchanges on Q1 results
E: KRBL/BIBHU/STK_EX_2223/33 04 August 2022 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 .j Sandra (E) Dalal Street Mumbai-400051 Mumbai - 400 001 Sc
Slide 2: KRBL Ltd. Investor Presentation Q1 FY2023
KRBL Ltd. Investor Presentation Q1 FY2023
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, well established Strong financial position; #1 brand in India; KRBL healthy internal accruals leading player in branded a
Slide 4: Q1 FY23 standalone performance highlights
Q1 FY23 standalone performance highlights Total Income Gross Profit EBITDA PAT 1,239 403 242 164 938 (935) 4,224 2,461 Cash & Bank balance* Net Bank Borrowings Net worth Total Inventory Highest ever quarterly: PAT: Rs 164 cr Earning per share: Rs 6.99 All figures in Rs . crore and are based on stand
Slide 5: Continuing momentum in sales
Continuing momentum in sales Revenue from operations 21% 1,228 • Q1FY23 revenue growth mainly driven 1,016 by domestic business – 47% y-o-y growth. • Exports business grew by 73% over preceding quarter. Q1 FY22 Q1 FY23 All figures in Rs. crore All figures are based on standalone financials 4 4
Slide 6: Profitability metrics for Q1 FY23
Profitability metrics for Q1 FY23 Gross Profit (Rs. Crore) EBITDA* (Rs. Crore) 32.5% 20.2% 19.6% 31.5% 403 242 325 208 • Continuing improvement in profitability metrics over Q3 and Q4 FY22. Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 • Q1 FY23 Gross profit margin improved due to higher avg. realization in basma
Slide 7: Superior balance sheet matrix
Superior balance sheet matrix Current Ratio (%) 8 7 • Healthy liquidity position. • Continued efficiency in working capital management. • Lower inventory (Q1 FY23 Rs. 2,461 cr vs. Q1 FY22 Rs. 2,533 cr) on account of lower paddy purchase in Q1 FY22 Q1 FY23 last season. Working Capital Days Inventory
Slide 8: Superior balance sheet matrix
Superior balance sheet matrix Net Bank Borrowing (Rs. Crore) Q1 FY22 Q1 FY23 -391 • Lower inventory coupled with healthy internal accruals leading to further strengthening the balance sheet position -935 • Strong debt protection metrics • Financial strength reflected in Strong Credit Rating: Interes
Slide 9: Key Developments
Key Developments Domestic* Revenues Export Revenues Cash & Bank Balance** 47% 73% 130% 709 485 938 483 280 407 Q1 FY22 Q1 FY23 Q4 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Continuing momentum in Revival in export sales Strong Cash Generation domestic sales • Sales driven by resurgent demand, • Lower Invent
Slide 10: Financial trends over the years
Financial trends over the years Revenue (Rs. Crore) Gross Profit (Rs. Crore) EBITDA* (Rs. Crore) 4,120 4,499 4,211 3,992 1,299 819 865 894 846 3,246 1,119 1,241 1,255 1,191 705 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 PAT (Rs. Crore) Net Bank Borrowings (Rs. Crore)
Slide 11: Shareholder value creation
Shareholder value creation Net worth (Rs. Crore) Dividend as a % of FV 78% Consistent increase Over FY18 over the years 4,063 3,685 350% 350% 3,119 2,717 280% 250% 2,279 230% FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 XX% CAGR shareholder returns over past 2 decades; ROCE at 20% in FY21 All
Slide 12: India Business
India Business - >. cE! Dulita bi Peden Headdat’ KRBIN IN S WORLD'S LARGEST RICE MILLERS & BASMATI RICE EXPORTERS
Slide 13: Continuing market leadership
Continuing market leadership 709 Revenue* in Rs. Crore for Q1 FY23 • Revenue growth driven by continuing volumes gains, complemented by improvement in realization Trend in Domestic Business 47% Revenue growth Y-o-Y *Excludes Energy 12
Slide 14: India Brand Portfolio
India Brand Portfolio 13
Slide 15: Strong leadership in Basmati market
Strong leadership in Basmati market Q1 FY 23 Volume Market Share (India) Q1 FY23 Volume Market Share (India) Packaged Basmati (Traditional Trade) Packaged Basmati (Modern Trade) Kohinoor Private Others; 4% Speciality Label; 4% Food India; 1% • Unmatched leader in KRBL ; packaged Basmati in 37% India
Slide 16: India Strategy
India Strategy Augmenting Portfolio across all Densifying distribution reach Increasing Brand Penetration four product segments • Preference for packaged rice has significantly • Focus on trade marketing to accelerate the • Non-basmati regional rice market largely increased already ongoing shift in
Slide 17: Unity: Accelerating shift to branded rice
Unity: Accelerating shift to branded rice Indian Basmati Rice Market- 2.5 Million metric tonnes Unity is now a Rs. 500 crore brand, drawing in customers from the un-branded segment Un-Branded Basmati rice 1.5 Mn MT. 16
Slide 18: Export Business
Export Business - >. cE! Dulita bi Peden Headdat’ KRBIN IN S WORLD'S LARGEST RICE MILLERS & BASMATI RICE EXPORTERS
Slide 19: Leadership beyond India
Leadership beyond India 485 Revenue in Rs. Crore for Q1 FY23 • 73% revenue growth over preceding quarter. • Strong growth from new markets. Trend in Export Business • Continuing growth in Saudi offtake over preceding (4)% quarter. Revenue growth Y-o-Y 18
Slide 20: Exports Brand Portfolio
Exports Brand Portfolio 19
Slide 21: 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 22: Overall export market position
Overall export market position KRBL’s dominating presence in the GCC region India Gate Share to Premium Segment Rice • KRBL has strong presence in Norway, Sweden and Europe Denmark Kuwait Market Segment 86% #1 in Canada in premium basmati rice 82% • Qatar Market Segment Americas • KRBL continues to
Slide 23: 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 24: Contact Us
Contact Us Safe Harbor This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to Investor Relations Desk the implementation of strategic initiatives, and other statements relating to KRBL Limited and its affiliated compa
Slide 25: Thank You
Thank You cE! Dulita bi Peden Headdat’ cep INDIA WORLD'S LARGEST RICE MILLERS GATE & BASMATI RICE EXPORTERS,