Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — FY2021 Earnings Presentation
36 slides from Mrs. Bector's Food Specialities's earnings presentation, Jun 9, 2021
Slide 1: Investor Presentation June 2021
INVESTOR PRESENTATION June 2021
Slide 2: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Mrs. Bectors Food Specialities Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or i
Slide 3: Q4 & FY21 Financials
ONE STOP DESTINATION FOR a . ER: : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Q4 & FY21 Financials
Slide 4: Strong Q4 FY21 Performance
Strong Q4 FY21 Performance Revenue from Operations EBITDA Profit After Tax 224 29 13 194 25 9 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 +15% +15% +41% Revenue Breakup EBITDA Margins PAT Margins 13.1% 13.1% 5.7% 5.3% 4.7% 11.8% 32.3% Biscuits - Domestic Biscuits - Exports Breads & Bakery Q4 FY2
Slide 5: Strong FY21 Performance
Strong FY21 Performance Revenue from Operations EBITDA Profit After Tax 881 141 72 762 93 30 FY20 FY21 FY20 FY21 FY20 FY21 +16% +52% +138% Revenue Breakup EBITDA Margins PAT Margins 16.0% 8.2% 5.4% 8.6% 12.2% 4.0% Biscuits - Domestic 39.6% Biscuits - Exports 20.8% Breads & Bakery FY20 FY21 FY20 FY21
Slide 6: Segment Wise Revenue Breakup
Segment Wise Revenue Breakup Biscuit Segment Breads and Bakery Segment +23% +41% Retail Bakery 349 183 Domestic 283 130 +10% +27% 48 66 72 38 Q4 FY20 Q4 FY21 FY20 FY21 Q4 FY20 Q4 FY21 FY20 FY21 +34% -42% Inst. Bakery 225 131 Exports 168 +39% 76 -10% 65 47 30 27 Q4 FY20 Q4 FY21 FY20 FY21 Q4 FY20 Q4 F
Slide 7: Strong Balance Sheet
Strong Balance Sheet Return on Capital Employed Return on Equity Working Capital 22.9% 16.8% 13.7% 9.5% Rs. 72 crores FY20 FY21 FY20 FY21 Maintained Working Capital despite increased Sales by 16% + 920 bps + 730 bps FY20 : Rs. 71 crores Net Debt Net Debt to Equity Working Capital 73 33 0.08x 30 days
Slide 8: Profit & Loss Statement – Q4 & FY21
Profit & Loss Statement – Q4 & FY21 Profit & Loss Statement (Rs. Crs.) Q4 FY21 Q4 FY20 Y-o-Y FY21 FY20 Y-o-Y Revenue from Operations 224.0 194.3 15% 880.7 762.1 16% Cost of Materials Consumed 117.7 99.7 467.8 411.3 Purchase of stock-in-trade 0.6 0.0 0.6 0.4 Changes in Inventories of Finished Goods a
Slide 9: Balance Sheet as on 31st March 2021
Balance Sheet as on 31st March 2021 ASSETS (Rs. Crs.) Mar-21 Mar-20 EQUITY & LIABILITIES (Rs. Crs.) Mar-21 Mar-20 Non ‐ Current Assets Equity Share Capital 58.7 57.3 Property, Plant and Equipment 339.7 337.6 Other Equity 372.5 262.2 Capital Work-in-Progress 55.3 6.7 Total Equity 431.2 319.4 Right-of
Slide 10: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-21 Mar-20 Profit before Tax 97.1 39.0 Adjustment for Non-Operating Items -47.4 -61.8 Operating Profit before Working Capital Changes 144.5 100.8 Changes in Working Capital 11.8 -21.0 Cash Generated from Operations 132.6 121.9 Less: Direct Taxes
Slide 11: Our founder Mrs. Rajni Bector conferred with Padma Shri
Our founder Mrs. Rajni Bector conferred with Padma Shri Mrs. Rajni Bector conferred with Padma Shri for her contribution to trade and industry I feel blessed and express my gratitude to the central government for recognising my services. I am feeling honoured and want to thank my family, children, a
Slide 12: Mrs. Bector's at glance
Mrs. Bector’s at glance Biscuit - Digestives + Crackers + Cookies + Cream + Marie Domestic Pursuant to Brand separation 1 agreement, “Mrs. Bector’s Cremica” Brand is exclusive to Mrs. Bectors Food Specialities Limited Biscuit - for Biscuits Exports 2 + Private Label Branded breads & Developed the br
Slide 13: Our business segments
Our business segments Biscuits Breads & Bakery Domestic Exports Breads & Bakery products Institutional Bakery Revenue Share* 40% 26% 21% 9% Market Share^ 4.5% of the premium and ~12% share of the total exports 5% market share in the Branded 11% market share in semi processed mid-premium biscuits mar
Slide 14: Distinguished brand created over the years
Distinguished brand created over the years Significant investments made over the last few years to establish and enhance capacities and premiumization of product portfolio • Brand Separation MOU - “Mrs. Bector’s • Green field investment made at Rajpura Cremica” brand for Biscuit's business & Facilit
Slide 15: Automated state of art manufacturing units
Automated state of art manufacturing units Equipped with advanced modern technology and Stringent Quality Controls automated systems Invested Rs. 320 crores between FY18 to FY21 to build capacities with superior capabilities Specifically, sourced best in class equipment from Denmark, Germany, US and
Slide 16: Strategically located for efficient distribution
Strategically located for efficient distribution Phillaur, Punjab Greater Noida, UP Greater Noida, UP ▪ Biscuits – 27,000MT ▪ Bread and bakery – 66 (Mn packs) Expansion ▪ Contract Manufacturing – 27,000MT ▪ 1 Bakery Line ▪ Buns – 170 (Mn packs) ▪ 1 Bread Line ▪ Frozen products – 12 (Mn packs) Tahliw
Slide 17: Biscuit Division
BISCUIT DIVISION
Slide 18: One of the Leading Biscuit Brands in North India
One of the Leading Biscuit Brands in North India… ‘Mrs. Bector’s Cremica’ is one of the leading biscuit brands in the premium and mid-premium segment in North India Danish Cookies Creams Crackers Digestives Cookies Company has a strong presence in North India which it intends Launched new products s
Slide 19: With a PAN India Distribution Network
… with a PAN India Distribution Network… Sales Automation tool to track distribution on real time Strong Multi Channel ▪ Enables company to track the real time coverage, sales Distribution Network* efficiencies & effectiveness, and working discipline of its distribution network ▪ Helped increase pro
Slide 20: Export business – Long runway for growth
Export business – Long runway for growth Rs. 225 crore 64 25%+ 34% Strong International Portfolio Revenues from Export Exporting Countries Share in the Indian Growth in export segment [FY21] biscuit exports to post realignment of export Canada [CY2019]* strategy Realignment of Exports Strategy – In
Slide 21: Immense Industry Potential in the Biscuit Market
Immense Industry Potential in the Biscuit Market Growth in Biscuit Market (Rs. Bn.) Low per capita spending on biscuits Per Capita Consumption (Kg/Year) Branded Biscuits Others Per capita consumption of biscuits in India has significantly increased in the last 5 years +9% 620 13.6 However, it is far
Slide 22: Bread & Bakery Division
BREAD & BAKERY DIVISION
Slide 23: Fastest growing premium Bakery brand in India
Fastest growing premium Bakery brand in India Branded Breads business has grown at White Bread Brown Bread Speciality Breads Indian Breads CAGR of 36% in the last 2 Financial Years Manufactures and sells various types of premium bakery products in savory and sweets categories for retail customers We
Slide 24: Customer centric distribution network
Customer centric distribution network Sales of products sold under the brand name ‘English Oven’ grew faster than industry between FY15 to FY20 Widespread Distribution One of the few bakery companies in India that can handle fresh, chilled and frozen products which enables the Company to distribute
Slide 25: Preferred Supplier to Largest QSR Franchises in India
Preferred Supplier to Largest QSR Franchises in India Company is a leading player in the institutional bakery segment Key Success Factors: Institutional Bakery (Rs. Crs.) Stringent quality control and compliance with standards Company’s revenues to QSRs were impacted +19% due to Covid-19 -42% Indust
Slide 26: Growth Potential in Bread & Bakery Business
Growth Potential in Bread & Bakery Business Indian Breads & Buns Market Indian Bread Market size was Rs. 50 bn in FY20 of Chain QSR Market (Rs. Bn.) (Rs. Bn.) which premium category currently has a share of ~16% and is projected to grow at a rate of 15% for the next 5 years +23% +9% 524 76 +9% • QSR
Slide 27: On ground brand building initiatives
On ground brand building initiatives Branding Activities Digital Marketing Website Re-Vamp In-Shop Mrs. Bectors Food Specialities Limited 27
Slide 28: Well positioned to capture growth
Well positioned to capture growth Right • Competitively well positioned across 4 segments – Domestic Biscuits, Biscuits Exports, Branded Breads and Business Mix Bakery & Institutional Bakery Focus on • Significant increase in the price realization of Company’s products across all business segments;
Slide 29: Delivering value to stakeholders with IPO
Delivering value to stakeholders with IPO December 2020 ▪ Listing of Mrs. Bectors Food Specialities Limited ▪ Listing done on BSE & NSE ▪ IPO Price : Rs. 288 per share ▪ Listing Price: Rs. 501 per share ▪ Objects of the Issue: ▪ Proceeds of Rs. 40.5 crores to finance the cost of Rajpura Expansion Pr
Slide 30: Historical Financials
ONE STOP DESTINATION FOR a . ER: : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Historical Financials
Slide 31: Historical Financials
Historical Financials Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 881 141 72 784 762 691 96 93 85 36 33 30 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 FY18 FY19 FY20 FY21 Gross Profit Margins EBITDA Margins PAT Margins 47.6% 16.0% 8.2% 46.5% 12.4% 12.3% 12.2% 5.2% 45.9% 4.2% 4.0% 44.6% FY18 FY1
Slide 32: Balance Sheet strength
Balance Sheet strength Net Debt to Equity 0.5 0.5 0.3 Working Capital (in Days) 0.1 Working 33 35 33 30 Capital (in Days) Mar-18 Mar-19 Mar-20 Mar-21 47 45 45 42 42 Cash Flow from Operations (Rs. Crs.) 37 37 39 36 33 30 30 109 110 54 46 Mar-18 Mar-19 Mar-20 Mar-21 Inventory Debtors Creditors FY18 FY
Slide 33: Historical Profit & Loss Statement
Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY21 Mar-20 Mar-19 Mar-18 Revenue from Operations 880.7 762.1 783.7 690.6 Cost of Materials Consumed 467.8 411.3 406.8 377.9 Purchase of stock-in-trade 0.6 0.4 13.4 12.0 Changes in Inventories of Finished Goods and Work in Progres
Slide 34: Historical Balance Sheet
Historical Balance Sheet EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-18 Equity Equity share capital 58.7 57.3 57.3 57.3 Other equity 372.5 262.2 237.5 209.3 Total equity 431.2 319.4 294.8 266.6 Non-current liabilities Financial liabilities (i) Borrowings 114.8 85.7 107.2 9
Slide 35: Historical Balance Sheet
Historical Balance Sheet ASSETS (Rs. Crs.) 31-Mar-21 31-Mar-20 31-Mar-19 31-Mar-18 Non-current assets Property, plant and equipment 339.7 337.6 344.3 240.6 Capital work-in-progress 55.3 6.7 15.6 92.1 Right-of-use assets 14.2 15.3 16.8 18.4 Goodwill 0.4 0.4 0.4 0.4 Other intangible assets 0.0 0.6 1.2
Slide 36: Thank You
THANK YOU Company: CIN: L74899PB1995PLC033417 Mr. Deepak Jain Head Finance & Corporate Strategy deepak.jain@cremica.in Investor Relations Advisors : Mr. Deven Dhruva Ms. Neha Shroff +91 9833373300 +91 7738073466 deven.dhruva@linkintime.co.in neha.shroff@linkintime.co.in
Mrs. Bectors Food Specialities — FY2021 Earnings Presentation on 6ix