Gopal Snacks Limited · NSE:GOPAL
Gopal Snacks — Q3 FY2024 Earnings Presentation
32 slides from Gopal Snacks's earnings presentation, Apr 2, 2024
Slide 1: Exchange filing cover letter for investor presentation
Ref: GSL/CS/SE/Q1/2024-25 Date: 02.04.2024 BSE Limited National Stock Exchange Limited Department of Corporate Services, Exchange Plaza, 5th Floor, Pheroze Jeejeebhoy Towers, Plot No. C/1, G Block, Dalal Street, Mumbai – 400001 Bandra-Kurla Complex, Mumbai – 400051 Script code: 544140 Symbol: GOPAL
Slide 2: Gopal Snacks Ltd. 9M & Q3FY24 Earnings Presentation
Gopal Snacks Ltd. 9M & Q3FY24 Earnings Presentation April 2nd, 2024 | Rajkot
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Gopal Snacks Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities,
Slide 4: Table of Content
Table of Content Company Overview Business Strengths Q3 & 9MFY24 Highlights Annual Financials 3
Slide 5: Company Overview
Company Overview
Slide 6: Journey over the Years
Journey over the Years Scaling Up • Primary manufacturing facility at Setting up Facilities Modasa, Gujarat, in 2021 • Primary manufacturing facilities at • Implemented SAP HANA Vision Incorporation Rajkot, Gujarat, in 2010 • Commenced Cold Storage facility of 40,000 MT • Automation and engineering
Slide 7: Gopal – One of the Leading Brands in the Indian Savoury Snacks Market
Gopal – One of the Leading Brands in the Indian Savoury Snacks Market Gopal Snacks is a prominent snacks manufacturer based out of Rajkot, India. Established in 1999 by Mr. Bipin Hadvani initially as a partnership firm which Vertically Integrated Manufacturing was later converted to a corporate enti
Slide 8: Diversified Product Portfolio Comprising of 85 Products and 320 SKUs
Diversified Product Portfolio Comprising of 85 Products and 320 SKUs Category Ethnic Snacks Western Snacks Other Products Product Types Snack Extruded Other Gathiya Namkeen Wafers Papad Besan Spices Pellets Snacks Products* # Products 8 31 12 8 5 5 1 6 9 Installed Capacity (Dec-23) 92,411 MT 114,610
Slide 9: Strategically Located, Integrated Facilities having 4.05 Lakh MT of Capacity
Strategically Located, Integrated Facilities having 4.05 Lakh MT of Capacity… Installed Capacity Primary Facilities Ancillary Facilities* Markets Served (as on Dec-23) (MTPA) (MTPA) Rajkot 1,75,138 84,010** (Year 2010) Serves the product demand in Gujarat, Mumbai, Madhya Pradesh Uttar Pradesh Modasa
Slide 10: Supported by a Well-Oiled Distribution Platform
…Supported by a Well-Oiled Distribution Platform Pan-India distribution network of 638 distributors (As of Dec’23) Extensive Distribution Network with Deep Penetration 9.61 million 638 Average Packets sold per day Total Distributors Delhi NCR 1 Uttarakhand Rajasthan 1 266 owned Logistics Vehicles 77
Slide 11: Initiatives towards Green Energy
Initiatives towards Green Energy Solar Power At Rajkot Facility Solar Power At Modasa Facility Wind Turbine 200 KW commissioned in April-2018 1 MW commissioned in Sep-22 2 MW commissioned in Sep-23 10
Slide 12: Board of Directors
Board of Directors… Bipinbhai Vithalbhai Hadvani | Chairman and MD Rajnikant Chimanlal Diwan | Independent Director • 29 years of experience in the Indian snacks industry • Holds bachelor's degree in Commerce & Law from Maharaja Sayajirao University, India • Responsible for providing strategic guida
Slide 13: Supported by Experienced Management Team
…Supported by Experienced Management Team Mukesh Kumar Shah Mayur Popatbhai Gangani Naveen Gupta Shivangi Hadvani Pasumarthi Seshagiri Rao Shaileshkumar Mulji Chief Financial Officer Company Secretary & Head Sales Chief of Staff Associate Vice President - Mendapara Compliance Officer Operations Gene
Slide 14: Business Strengths
Business Strengths • Leadership Position in Indian Gathiya Market • Fully Integrated Business Operations • Rs.5/- SKU – Sweet Spot for Company’s Products • Track Record of Robust Financial Performance • Growth Strategy in Place
Slide 15: 'Advantage Gopal' - Leadership Position in Indian Gathiya Market
‘Advantage Gopal’ - Leadership Position in Indian Gathiya Market Indian organized Gathiya market poised to grow… …Advantage Gopal Snacks! Source – F&S Report* Rs Bn Gathiya accounts for 3% of the 31% market share CAGR : 11.7% total organized Indian Savoury Largest company in the Indian gathiya marke
Slide 16: Fully Integrated Business Operations aid in Quality and Cost Control
Fully Integrated Business Operations aid in Quality and Cost Control 1 Backward Integration 2 Primary Processing 3 Logistics Raw Material / Key Ingredients Finished Goods Cold Storage • Three Ancillary manufacturing facilities for key • Our 3 primary manufacturing facilities which make • Large In-ho
Slide 17: Rs 5/- SKU offers Value for Money Proposition
Rs 5/- SKU offers Value for Money Proposition Easy to Sell Top 5 SKUs (Dec’23) 1 • Affordable across customer segments and age groups, leads to huge Total Addressable Market (TAM) • Convenience of on-the-go consumption • Portion control for health conscious customers Rs 5/- SKU Papdi Gathiya Masala
Slide 18: Track Record of Robust Financial Performance
Track Record of Robust Financial Performance Revenue from Operations (Rs Cr) Gross and EBITDA Margins (%)* PAT (Rs Cr) & PAT Margin (%) 8.1% 1,395 28.7% 7.0% 1,352 28.4% 1,129 1,044 112 Delivering Healthy 20.6% 18.1% Return Ratios led by: 14.1% 3.1% 12.4% 73 1.9% 42 ✓ Sustainable Profitability 7.0%
Slide 19: Business Strategy to Leverage Unutilized Capacity and Drive Growth
Business Strategy to Leverage Unutilized Capacity and Drive Growth 1. Core Market 2. Focused Market • Enhance presence in core market of Gujarat • Accelerate expansion in Focus Markets such by focusing on capturing market share in as Maharashtra, Rajasthan, Madhya Wafers / Chips category which is si
Slide 20: Q3 & 9MFY24 Financial Highlights
Q3 & 9MFY24 Financial Highlights
Slide 21: Key Financial Updates
Key Financial Updates Revenue from Operations Gross Profit & Gross Margin* EBITDA & EBITDA Margin* PAT & PAT Margin 9MFY24 9MFY24 9MFY24 Rs 73.5 Cr 9MFY24 Rs 299.2 Cr Rs 129.6 Cr Rs 1,043.8 Cr Gross Margin at 28.7% EBITDA Margin at 12.4% PAT Margin at 7.0% Q3FY24 Q3FY24 Q3FY24 Q3FY24 Rs 96.5 Cr Rs 3
Slide 22: Profit & Loss – Q3 & 9MFY24
Profit & Loss – Q3 & 9MFY24 Particulars (Rs Cr) Q3FY24 Q3FY23 YoY Q2FY24 QoQ 9MFY24 9MFY23 YoY Revenue From Operations 367.6 363.3 357.7 1,043.8 1,062.6 Other Income 1.2 1.8 1.3 3.0 3.1 Total Income 368.8 365.1 1% 359.0 3% 1,046.8 1,065.7 -2% Raw Material Costs 271.1 253.6 255.0 744.5 764.0 Gross Pr
Slide 23: Segment-wise – Q3FY24
Segment-wise – Q3FY24 Gathiya Sales (MT) Namkeen Sales (MT) Western Snacks (MT) Other Snacks/Products (MT) 18% 9% 1% 30% 7,496 3,487 6,860 7,451 7,035 7,098 2,686 6,353 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Revenue Mix – Q3FY23 Revenue Mix – Q3FY24 4.5% 3.1% 8.1% 11.2% 29.0% 27.6%
Slide 24: Segment-wise – 9MFY24
Segment-wise – 9MFY24 Gathiya Sales (MT) Namkeen Sales (MT) Western Snacks (MT) Other Snacks/Products (MT) 17% 13% 12% 67% 20,859 21,900 20,074 10,258 6,146 17,884 17,825 19,404 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Revenue Mix – 9MFY23 Revenue Mix – 9MFY24 3.7% 2.5% 6.8% 10.5% 30.
Slide 25: Enhancing Brand Awareness (1/2)
Enhancing Brand Awareness (1/2) Product Display & Sale Canopy at Cultural Events Asia Cup Scoreboard Advertisement 24
Slide 26: Enhancing Brand Awareness (2/2) - Exhibitions
Enhancing Brand Awareness (2/2) - Exhibitions ANUFOOD India (Mumbai) World Foods (Delhi) India Food Forum (Mumbai) Indori Zyka (Indore) 25
Slide 27: Annual Financials
Annual Financials
Slide 28: Profit & Loss
Profit & Loss Particulars (Rs Cr) FY21 FY22 FY23 9MFY24 Revenue From Operations 1,128.9 1,352.2 1,394.7 1,043.8 Other Income 0.9 4.3 3.8 3.0 Total Income 1,129.8 1,356.5 1,398.5 1,046.8 Raw Material Costs 924.2 1,073.5 998.8 744.6 Gross Profit* 204.7 278.7 395.9 299.2 Gross Profit Margin* 18.1% 20.6
Slide 29: Balance Sheet
Balance Sheet Assets (Rs Cr) Mar-21 Mar-22 Mar-23 Sep-23 Liabilities (Rs Cr) Mar-21 Mar-22 Mar-23 Sep-23 Property, Plant & Equipment 157.9 196.9 220.3 218.9 Share Capital 1.1 1.1 12.5 12.5 Capital Work-in-progress 43.4 45.1 9.8 7.4 Other Equity 134.6 176.5 278.4 333.6 Intangible Assets 0.1 0.2 2.3 2
Slide 30: Cash Flow
Cash Flow Particulars (Rs Cr) Mar-21 Mar-22 Mar-23 Sep-23 Profit Before Tax 26.5 54.1 151.8 75.0 Operating Profit Before Working Capital Changes 60.6 98.5 199.0 95.5 Movement In Working Capital -32.2 -31.0 -36.3 -15.3 Net Income Tax (Paid) -5.9 -8.9 -41.2 -12.7 Net Cash Flow From Operating Activitie
Slide 31: Capital Market Information
Capital Market Information Shareholding Pattern (13-Mar-24) Script Related Information (01-Apr-24) Non-Institutions BSE/NSE Code 544140 | GOPAL 9.3% CMP (Rs) 360 Institutions 9.2% Market Cap (Rs Cr) 4,485 Shares O/s (Rs Cr) 12.46 Promoters 81.5% Face Value (Rs) 1.00 30
Slide 32: Thank You
Thank You Gopal Snacks Ltd. Mukesh Kumar Shah mukesh.shah@gopalsnacks.com CIN No.: U15400GJ2009PLC058781 Stellar IR Advisors Pvt. Ltd. Pooja Sharma / Suyash Samant pooja.sharma@stellar-ir.com | suyash@stellar-ir.com Phone: +91 22 62398024