Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q1 FY24 Earnings Presentation
50 slides from Manorama Industries's earnings presentation, Aug 7, 2023
Slide 1: Investor Presentation cover letter to exchanges
Manorama Industries Limited KHASRA No. 2449-2618 Nr. IIDC, Birkoni Mahasamund (C.G.) Pin : 493445 August 07, 2023 To, To, The Manager, The Manager, BSE Limited ("BSE") National Stock Exchange of India Limited P. J Towers, Dalai Street, Fort, ("NSE") Mumbai - 400 001 Exchange Plaza, Plot No. C/1, G B
Slide 2: Manorama Industries Limited Investor Presentation - Q1FY24
MANORAMA INDUSTRIES LIMITED Investor Presentation - Q1FY24
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Manorama Industries Limited (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 4: Q1 FY24 Performance Highlights
Q1 FY24 Performance Highlights
Slide 5: Management Commentary – Q1 FY24
Management Commentary – Q1 FY24 Commenting on the results and performance, Mr. Gautam Kumar Pal, Managing Director said: “We are delighted to report strong performance for the first quarter of FY24. Our Revenue for the quarter demonstrated an impressive growth of 53% year on year and 10% quarter on
Slide 6: Q1 FY24 – Financial Highlights
Q1 FY24 – Financial Highlights Revenue (Rs. In Mn) EBITDA (Rs. In Mn) Profit after Tax (Rs. In Mn) +53% 1,115.6 48% 186.4 71% 115.5 729.7 126.1 67.7 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 EBITDA Margins (%) PAT Margins (%) 17.3% 16.9% 10.4% 9.3% Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 5
Slide 7: Q1 FY24 – Profit & Loss Account
Q1 FY24 – Profit & Loss Account Profit and Loss (Rs. Millions) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue from Operations (Net of Excise) 1,115.6 729.7 53% 1,017.4 10% • Revenues for the quarter stood at Rs. 1,115.6 million registering a growth of 53% year on year as compared to Rs. 729.7 million R
Slide 8: Business Update - New Expansion Plan & Fund Raise
Business Update - New Expansion Plan & Fund Raise
Slide 9: Expansion Plan
Expansion Plan Particulars Amount (in Cr.) Details • For new investments in setting up new capacity of Fractionation and Refinery process by 25,000 MT per annum each along with supporting infrastructure with the total estimated capex of Rs. 65 Cr. • Board has also approved the acquisition of land ar
Slide 10: Details of Expansion Plan
Details of Expansion Plan Solvent Extraction Plant Putting up a 300 TPD Solvent Extraction Plant. Currently the Company is doing Solvent extraction under job work process through a third-party vendor which entails additional transportation costs and processing costs. The said expansion will save on
Slide 11: Update on Capex (1/2)
Update on Capex (1/2) Solvent Extraction & New Warehouse & Refinery Plant • As of 30th June 2023, the company has incurred Rs.1,099.5 million towards this Capital Expansion • Since the new Capex announcement in August 2022, the Company has successfully completed the commissioning of the following o
Slide 12: Update on Capex (2/2)
Update on Capex (2/2) Birds eye view of the plant • Our current focus is on completing the Fractionation plant, a project anticipated to commence operations in the coming months. • The cost of this capex was originally envisaged to be Rs. 650 million. However, as on 30th June 2023 the company has in
Slide 13: Capacity that Drives Growth
Capacity that Drives Growth Existing Capacity New Capacity Expansion Total Capacity Process (metric tonnes per annum) (metric tonnes per annuam) (metric tonnes per annum) Seed Milling (Expeller) 60,000 60,000 1,20,000 Solvent Extraction - 90,000 90,000 Plant Refinery 15,000 25,000 45,000 Interesteri
Slide 14: Company Overview
Company Overview
Slide 15: About Us
About Us Enjoys undisputed leadership as a key supplier to the Since its incorporation 16 years ago in 2005, started World’s Leading Fortune Companies in Food, with extracting butter and fats from Sal seeds and Chocolate, Confectionery and Cosmetic Industries Mango kernel and gradually forayed into
Slide 16: Key Milestones
Key Milestones Enjoys undisputed leadership as a key supplier to the World’s Leading Fortune Companies in Food, Chocolate, Confectionery and Cosmetic Industries The unique business model of Manorama Industries Limited is the truest, finest example of serving under “AATMANIRBHAR BHARAT”. Directly/Ind
Slide 17: Experienced Board of Directors
Experienced Board of Directors Vinita Saraf - Non-Executive Director and Chairperson Nipun Sumanlal Mehta - Independent Director Experience : 21 Years Experience : 37 Years Background : She has completed her bachelor’s degree in commerce from Mount Carmel Background: A CA , Expert in Financial Marke
Slide 18: Experienced Management Team
Experienced Management Team Ashish Saraf - President Dr. Krishnadath Bhaggan - VP - R&D CS Divya Jajoo - CS & Compliance Product Development A B.Com, having over 33 years of experience in Experience in R&D and Innovation for 22 yrs.+ He is She played a pivotal role in the company's initial managing
Slide 19: Our Vision and Mission
Our Vision and Mission Vision • Acquire and maintain leadership position in chosen • Customer delight is our highest priority areas of business by innovating products and adopting unique co-development approach for different • Upliftment of livelihood of tribal people applications, and various segme
Slide 20: Global Certifications
Global Certifications Manorama Industries’ quest for quality has earned it a spectrum of prestigious certifications 19
Slide 21: Our Commitment to UN Global Compact
Our Commitment to UN Global Compact Committed to UN Sustainable Development Goals Over the years, developed an extensive supply chain network of Millions of women tribal and forest-dwellers ………and have positively impacted the livelihoods Committed to UN Global Compact With the signature of the UN Gl
Slide 22: ESG Initiatives
ESG Initiatives Manorama’s objective is to achieve long-term growth by lowering environmental impact, increasing ecological balance, improving the lives of those in our communities, and producing value for all our stakeholders Environment Social Governance o Planted more than 5,000 saplings last o E
Slide 23: Giving Back to The Society
Giving Back to The Society rch ow FOR YOUR DONATION Of Bone Marrow Density Machine We genuinely appreciate your contribution towards society and healthcare
Slide 24: Recent Awards & Accolades (1/4)
Recent Awards & Accolades (1/4) Mr Ashish Saraf, President of Manorama Industries Limited, Raipur The award was given by H.E Ahmed Bin Sulayem, Executive received “TWO EXPORT EXCELLENCE AWARDS” under the category Chairman & CEO Dubai Multi Commodities Centre (DMCC), Govt. of “Highest Foreign Exchang
Slide 25: Recent Awards & Accolades (2/4)
Recent Awards & Accolades (2/4) GLOBOIL INDIA 2022 Awards Ceremony & Conference Awarded four ‘Highest Unique Processors and Highest Unique Excellence in Exports of Vegetable Butters from India’ Solvent Awarded ‘Eminent Excellence in ESG & Sustainable Creation of Extractors’ Association of India at G
Slide 26: Recent Awards & Accolades (3/4)
Recent Awards & Accolades (3/4) Manorama Industries Limited has meritoriously conferred five awards at the AGM organized by The Solvent Extractors’ Association of India on September 21st, 2022 25
Slide 27: Awards & Accolades (4/4)
Awards & Accolades (4/4) National & International Awards Received by Manorama from Government of India, Ministry of Commerce and Various other National & International Organizations 26
Slide 28: Our Business Model
Our Business Model
Slide 29: Weaving a Revolution - Wealth Out of Waste
Weaving a Revolution - Wealth Out of Waste Waste to Wealth From Forests to Premium Brands From the Poorest to the Richest • Forest / Plant grown seeds are major raw • Collecting raw materials primarily exotic seeds • Procuring Raw Materials from the marginalized materials from the forest tribal loca
Slide 30: Collecting Nature's Gift to Make Natural Products
Collecting Nature’s Gift to Make Natural Products Our business model is entirely nature based, sourcing our entire raw material from forests. No Risk of non-availability of raw material. Trees flower every year and seeds are produced. Available in plenty in India and other Countries. There is limite
Slide 31: Enhancing Capacities for an Expanding Business
Enhancing Capacities for an Expanding Business Favourable plant location provides us an edge in sourcing raw-materials and ensuring adequate supply To meet the huge surge in specialty tailor-made fats and CBE demand, the company has set up an integrated state of the art manufacturing plant at Birkon
Slide 32: Key Product Components – Tree Borne Seeds
Key Product Components – Tree Borne Seeds Sal seeds Mango kernel Shea nuts (Shorea robusta) (Mangifera indica) (Vitellaria paradoxa) • India has the largest Sal forests in the world, Sal seeds • Mango is a seasonal fruit that is amply available across • Shea nuts are found mainly in the West Africa
Slide 33: De-oiled Cake for Cattle Industry
De-oiled Cake for Cattle Industry Largest supplier of Cattle feed from the India is the world’s largest consumer of exotic natural tree borne seeds de-oiled cattle-feed & largest Milk Producer cakes to Indian cattle feed industry Q1 FY24 Revenue contribution from cattle feed business Rs. 103.7 Milli
Slide 34: Our Key Product Portfolio
Our Key Product Portfolio Cocoa Butter Equivalent (CBE) Sal butter Sal stearin • CBEs are vegetable fats that are made up of • The butter content of the Sal • It is the solid fraction of Sal the same fatty acids and triglycerides as seed is 13-14%, and it is Butter derived by solvent Coco Butter abu
Slide 35: Supply Chain Network
Supply Chain Network Manorama Supply Network in West - Africa Sal seed Collection Process in India Scattered Sal in forest bed Shea Forest Shea Tree Shea Fruit Picking of Shea nuts Seeds picking by tribal women At Manorama Manorama buying Shea nuts Deshelling of Boiling & Cleaning Pre-cleaning of Wa
Slide 36: Procurement of Shea Nuts (Africa)
Procurement of Shea Nuts (Africa) Developing a comprehensive and efficient system for procuring Shea nuts and other agricultural goods from Ghana's West African neighbors such as Burkina Faso, Ivory Coast, Mali, and others This system gives a competitive edge in meeting rising raw material requireme
Slide 37: World's Leading Brands are Our Customers
World’s Leading Brands are Our Customers The Company derives major revenue from the chocolate and confectionery industry, with a significant portion of the balance revenues coming from the cosmetics industry Food & Confectionery Chocolate Cosmetics Plant Based Meat, Food Industry The Brand Names men
Slide 38: Geographical Footprint
Geographical Footprint Trusted manufacturer of food, chocolate, confectionary and cosmetics ingredients industry having Q1 FY24 - Revenue Breakup customer base spanning across the globe 35% 65% Domestic International The Company enjoys a global The Company is Recognized by GoI as a ‘Star Export Hous
Slide 39: Client Testimonials (1/2)
Client Testimonials (1/2) Meet the Women of Manorama – Article Published on The Body Shop Website Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only 38
Slide 40: Client Testimonials (2/2)
Client Testimonials (2/2) Article Published on Lush Website Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only 39
Slide 41: Industry Overview
Industry Overview • In May 2017, FSSAI allowed the use of 5% CBEs in Global Industry Landscape chocolates from January 1st, 2018. With the positive change in the standards of chocolates, the CBE demand is estimated to grow substantially. • India is one of the most important CBE markets with a likely
Slide 42: Innovation & Research
Innovation & Research
Slide 43: Product Portfolio - MILCOA Range & Spread Fats
Product Portfolio - MILCOA® Range & Spread Fats We invest in innovation at Manorama to create value and manage our resources responsibly. We continue to prioritise R&D in order to develop unique specialty goods, and we have extensively invested in cutting-edge technology and processing facilities. W
Slide 44: Excellence Through Innovation & Research
Excellence Through Innovation & Research Milcoa® Innovation & Research Center, a high standard research laboratory equipped with cutting-edge technologies Research & Development Centre Led by: Dr. Krishnadath Bhaggan +25 years of global experience in the industry, contribution to multiple patents in
Slide 45: Historical Financial Highlights
Historical Financial Highlights
Slide 46: Financial Highlights
Financial Highlights Profit and Loss (Rs. Millions) FY23 FY22 FY21* FY20 FY19 Revenue from Operations (Net of Excise) 3,508.0 2,791.2 2,026.3 1,882.4 1,024.0 Raw Material 2,156.6 1,546.2 1,199.0 867.3 495.4 Employee Cost 128.2 96.4 74.7 69.1 35.0 Other Expenses 658.8 759.2 406.0 507.6 210.7 EBITDA 5
Slide 47: Balance Sheet Statement
Balance Sheet Statement Equity & Liabilities (Rs. Millions) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Assets (in Rs. Millions) Mar-23 Mar-22 Mar-21 Mar-21 Mar-21 Total Equity 2,983.0 2,682.6 1,447.3 1,272.6 1,039.2 Non - Current Assets 1,541.2 1,162.6 737.4 628.8 357.9 Share Capital 119.2 119.2 111.3 111.3
Slide 48: Cash Flow Statement
Cash Flow Statement Particulars (Rs. Millions) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Net Profit Before Tax 430.6 335.1 223.6 323.7 265.6 Adjustments for: Non-Cash Items / Other Investment or Financial Items 165.0 121.3 164.2 145.9 23.2 Operating profit before working capital changes 595.6 456.5 387.8 4
Slide 49: Growth Drivers - Market Strategy
Growth Drivers - Market Strategy Optimum capacity utilisation at Birkoni and new capex Growing opportunities in Chocolate Industry The Birkoni Plant is currently operating at 85%-90% utilisation and is A major driver for the sector is projected to be the growing habit of chocolate expected to achiev
Slide 50: Thank You
Contact Information Company : Investor Relations Advisor : Manorama Industries Limited Strategic Growth Advisors Pvt. Ltd. CIN: L15142MH2005PLC243687 CIN: U74140MH2010PTC204285 Ms. Ekta Soni – Investor Relations Mr. Abhishek Shah E: investors@manoramagroup.co.in E: abhishek.shah@sgapl.net T: 0771228