Britannia Industries Ltd · NSE:BRITANNIA
Britannia Industries — Q4 FY2022-23 Earnings Presentation
19 slides from Britannia Industries's earnings presentation, May 6, 2023
Slide 1: Exchange filing cover letter: Analyst Call Presentation and recording link
6th May, 2023 To The Secretary, The Manager - Listing Department, BSE Limited, National Stock Exchange of India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, 5th Floor, Dalal Street, Fort, Plot No. C/1, G-Block, Mumbai - 400 001 Bandra-Kurla Complex, Bandra (East), Scrip code: 500825 Mumbai –
Slide 2: Analyst Meet / Q4'22-23 Results / Conference Call
- ·. . .._, . - 0 Analyst Meet/ Q4’22-23 Results/ Conference Call 5th May, 2023 1
Slide 3: Disclaimer / Safe Harbor Statement
Disclaimer / Safe Harbor Statement This presentation may contain statements which reflect Management’s current views and estimates and could be construed as forward-looking statements. The future involves risks and uncertainties that could cause actual results to differ materially from the current v
Slide 4: Robust double-digit growth in revenue and profitability; biscuit market share
Delivered robust double-digit growths in Revenue & Profitability and further strengthened our market leadership Revenue from Operations Operating Profits Q4 22-23 11% 15% FY 22-23 Q4 22-23 47% 30% FY 22-23 Consistent market share gains Britannia Largest Competitor 2nd Largest Competitor Biscuit Mark
Slide 5: Strategic Pillars to drive a profitable growth
Strategic Pillars to drive a profitable growth #3 Adjacent Business #2 #4 Lead Innovation Cost Efficiency #1 #5 Drive Distribution & Profitable Sustainability Marketing growth.. 4
Slide 6: 1A. Driving efficiency in Distribution
1A. Driving efficiency in Distribution Upbeat Rural Distribution → Robust Market share gains High double-digit Revenue growths 28K 1.4x 26K MS points gained Preferred Dealers) No of RPDs (Rural 23K over FY 20-21 19k 1.0x 18k 14k 10k 8k Mar'16 Mar'17 Mar'18 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 All Indi
Slide 7: 1B. Marketing activities during the quarter
1B. Marketing activities during the quarter Marie Digital / Engagement / Print media Marie My Startup contest S4 Mega Marketing Campaigns Key Brands on Air Good Day Chocochip Pure Magic Chocolush Renovation MBK Classic (Nicknames pack) 5050 Maska Chaska Rusk (Renovation) Potazos Drinks - Winkin Cow
Slide 8: 2. Innovation to fuel next phase of growth
2. Innovation to fuel next phase of growth Bakery Biscuits – Focused scale-up drives Croissant 50-50 Golmaal NC Seeds & Herbs Milk Bikis Classic Croissant Orange Extension to South & West Focused in Organized Channel Focused TG, driven on nostalgia New variant addition 40% sequential shift QoQ 50% s
Slide 9: 3. Adjacent Businesses on strong footing
3. Adjacent Businesses on strong footing Bakery Adjacency Croissant ❑ Bread continues to march on ➢ Croissant continues to gain traction post profitable growth trajectory National launch – Joins Rs 100 Cr Club ❑ Commercialized 3 new lines in Rusk ➢ Base Markets (TN & WB) continues to to enable compe
Slide 10: 4. Driving an ecosystem of efficiencies
4. Driving an ecosystem of efficiencies Distance to market 9x 5x 3x 1x 13-14 16-17 21-22 22-23 9
Slide 11: 5. ESG – Building a sustainable profitable business
5. ESG – Building a sustainable profitable business 2,987 farmers enrolled for milk collection Dairy Farmer Extension Program: 1.0% reduction in sugar Vs 21-22 3,055 number of beneficiaries impacted out of 12 medical camps conducted this year 5.0% reduction in sodium Vs 21-22 2,01,856 beneficiaries
Slide 12: Revenue from Operations
BRITANNIA Revenue from Operations
Slide 13: Consolidated Revenue from Operations
Double-digit topline growth fueled by Distribution across Businesses & Channels FY 20-21 (13%) FY 21-22 (8%) FY 22-23 (15%) Consolidated Revenue from Operations 4,338 4,101 3,892 3,654 3,554 3,531 3,508 3,384 3,354 3,352 Rs Crs. 3,106 3,038 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
Slide 14: Cost & Profitability
BRITANNIA Cost & Profitability
Slide 15: Food inflation continues, albeit at a slightly lower pace
Food inflation continues, albeit at a slightly lower pace Inflationary trends Consumer Food Price Index (CFPI) USD / INR 177 82.8 175 81.8 82.2 175 172 79.0 168 165 75.9 163 74.4 74.2 74.5 160 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Base 2012 =
Slide 16: Input prices softened this quarter, except flour
Input prices softened this quarter with correction in RPO & Packing material prices, except Flour which is trending higher Flour Palm Oil Vs LQ : +4% 1.2x Vs LQ : -6% Vs LY : +21% Vs LY : -14% 1.3x 1.0x 1.0x Q1'21 Q2'21 Q3'21 Q4'21 Q1'22 Q2'22 Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'21 Q2'21 Q3'21 Q4
Slide 17: On Cost & Profitability front: Outlook
On Cost & Profitability front: ❑ Pricing actions were taken to cover for inflation ❑ With softening of material prices in H2 22-23 & stepped-up cost efficiencies, our operating margins improved this quarter Outlook: ❑ We remain vigilant of the competitive pricing actions ❑ We are closely monitoring
Slide 18: Consolidated Operating Profit
Operating profits grew handsomely….driven by cost efficiencies & benign input cost inflation FY 20-21 (17.9%) FY 21-22 (14.3%) FY 22-23 (16.3%) 18.9% 18.5% 19.8% 15.2% 760 18.7% 736 Consolidated Operating Profit 669 18.1% 660 627 15.1% 14.3% 14.2% 563 13.9% 14.9% 12.3% 505 508 489 499 453 450 Rs Crs
Slide 19: Key Financial Lines – Consolidated (Reported)
Key Financial Lines – Consolidated (Reported) Q4 22-23 FY 22-23 Particulars 12 month 12 month Rs Crs Rs Crs Growth% Growth % Net Sales 3,892 11% 15,985 15% Operating Profit 736 47% 2,605 30% Profit Before Tax (PBT) 761 47% 3,033* 46% Profit After Tax (Owner’s share) (PAT) 559 47% 2,322* 52% Particul
Britannia Industries — Q4 FY2022-23 Earnings Presentation on 6ix