Manorama Industries Ltd. · NSE:MANORAMA
Manorama Industries — Q4 FY24 Earnings Presentation
42 slides from Manorama Industries's earnings presentation, May 12, 2024
Slide 1: Manorama Industries Limited – Investor Presentation filing letter
Manorama Industries Limited KHASRA No. 2449-2618 Nr. IIDC, Birkoni Mahasamund (C.G.) May 12, 2024 Pin : 493445 To, To The Manager The Manager, Listing Department Listing Department BSE Limited ("BSE") National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, ("NSE") Dalai Street, Fort Exch
Slide 2: Empowering Sustainability – Investor Presentation Q4 & FY24
EMPOWERING SUSTAINABILITY Manorama Industries Limited Investor Presentation Q4 & FY24 May - 2024
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: Table of Content
01 Manorama’s Unique Proposition 02 Advantage @ Manorama 03 Company Overview 04 Sustainable Business Practices 05 Leadership & Management Team Table 06 Growth Strategy of Content 07 Financial Highlights 08 Appendix
Slide 5: Manorama's Unique Proposition
Manorama’s Unique Proposition
Slide 6: Built on Strong Business Moats – Greener Future
Built on Strong Business Moats – Greener Future Waste to Wealth Competitive Marquee Manufacturing Industry Sustainable Growth Advantage Clientele Excellence Tailwinds Financial Performance Offers customer-centric solutions Integrated capacity powered with Huge industry demand of Cocoa Uplift
Slide 7: Advantage @ Manorama
Advantage @ Manorama
Slide 8: The Manorama Industries Edge
The Manorama Industries Edge # 1 Indian Exporter of Sal & Mango Based Speciality Fats & Butter Leadership Status # 1 Sal Fat Manufacturer in the World Sources raw materials (seeds) from nature (forests of India & Africa) Robust Supply Chain Zero risk of non-availability of raw materials St
Slide 9: Company Overview
Company Overview
Slide 10: Waste to Wealth Business Model
Waste to Wealth Business Model De-Oiled Cake Sells De-Oiled Revenues: FY24 Cake to Indian at INR 933 Cattle Feed million Industry India: Sal, Mango, Kokum & Mowrah Manufactures Procure Exotic Extracts and Cocoa Butter Tree Borne Processes Seeds Equivalent (CBE) Seeds at State-of-the- and Exotic Art
Slide 11: Strong Supply Chain Network
Strong Supply Chain Network India – Sal Seed Collection Process *Sal Forest - India Covers ~14% of Forest region Orissa, Bihar, Jharkhand, West Bengal, Madhya Pradesh & Chhattisgarh accounts of 30% of Scattered Seeds Seed Collection Pre-Cleaning Deshelling Cleaning Seed Collection Total Sal Fore
Slide 12: CBE and Exotic Specialty Fats & Butter - Process
CBE and Exotic Specialty Fats & Butter - Process Raw Materials Sal/Mango/Shea illipe & other exotic seeds Raw Materials Shea / Illipe Raw Materials Sal/Mango Expeller Crude oil Cake Solvent Extraction Process Refinery process Crude oil De-oiled cake (cattle feed) Palm mid fraction Fractionation proc
Slide 13: CBE and Exotic Specialty Fats & Butter – Winning Proposition
CBE and Exotic Specialty Fats & Butter – Winning Proposition CBEs and Exotic Specialty Fats & Butter - Winning Case Factors Fractionated Ingredients Contains Same Fatty Acids & Comparable Physical & Fractionation of Exotic Blended without Compatible in all Proportion Triglycerides as Cocoa Chemical
Slide 14: Global CBE and Exotic Specialty Fats & Butter Industry
Global CBE and Exotic Specialty Fats & Butter Industry Global CBE and Exotic Specialty Fats & Butter: Demand Dynamics Global CBE and Specialty Fats & Butter: Market Size (in USD million) 2030 Advantage due to high CBEs and Exotic Specialty Cocoa Prices, supply chain Fats & Butter provides Rising Dem
Slide 15: State-of-the-Art Capacity & Sustainable Manufacturing
State-of-the-Art Capacity & Sustainable Manufacturing for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Manorama’s Birkoni Plant (Raipur) Refinery Interesterification 45,000 MTPA 30,000 MTPA Extraction Plant *Fractionation 90,000 MTPA 40,000 MTPA Integrated Capacity ^Blending Sta
Slide 16: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars (in Tons Per Annum) FY23 FY24 FY25 Capacity Addition Seed Milling (Expeller) 60,000 90,000 90,000 Added 30,000 TPA in FY24 Solvent Extraction Plant 90,000 90,000 90,000 Added 90,000 TPA in FY23
Slide 17: Building Capacities over a Period of Time
Building Capacities over a Period of Time The Journey Towards Building an Integrated Capacity Particulars FY20 FY21 FY22 FY23 FY24 FY25 CAGR Fractionation (TPA) 15,000 15,000 15,000 15,000 15,000 40,000 21.7% Revenues (in INR Crores) 188 203 279 351 457 24.9% Average Fixed Assets (in INR Crore) 29 5
Slide 18: R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand
R&D Capabilities for Catering the Global CBE and Exotic Specialty Fats & Butter Demand Milcoa® Innovation & Research Center – Edge Milcoa® Brand Range Spearheaded by Dr. Krishnadath Bhaggan, a professional with All-round filling fats (MilcocreamTM1056 and MilcocreamTM1010) Leadership 25+ years r
Slide 19: Array of Global Certifications
Array of Global Certifications Quest to be the Best: Wide Spectrum of Prestigious Certifications 18
Slide 20: Growing Global Footprints & Fortune 500 Clientele
Growing Global Footprints & Fortune 500 Clientele Geographical Footprints across 70+ Countries Marquee Global Clientele RUSSIA EUROPE NORTH ASIA AMERICA LEBANON TURKEY EGYPT MEXICO UAE AFRICA BRAZIL SOUTH AMERICA Government of India Recognized ‘Three Star Export House’ On boarded new global cust
Slide 21: Growth Strategy
Growth Strategy
Slide 22: Gearing up for the next wave of growth
Gearing up for the next wave of growth Capacity to Cater Growing CBE and Market Launch Innovative Vigoured Operational Exotic Specialty Fats & Diversification Products Efficiencies Butter Demand Commissioning of the Deepening penetration R&D team continuous Economies of scale and new Fractionation t
Slide 23: Sustainable Business Practices
Sustainable Business Practices
Slide 24: Environmental Initiatives
Environmental Initiatives Environment ❑ Zero effluent or water discharged outside the plant ❑ Entire treated water utilised in the plant ❑ The organization's water withdrawal has a negligible effect on the local water table ❑ Uses Biofuel Husk as an alternative fuel in the boiler ❑ Completely organi
Slide 25: Social Initiatives
Social Initiatives Social ❑ Empowering tribal women in seed gathering through spending INR 6.9 million towards CSR in FY24 for uplifting their overall health & hygiene ❑ The Company’s leadership composition is the fair representation of women in the Governance body and has Equal Remuneration Policy
Slide 26: Governance Initiatives
Governance Initiatives Governance ❑ Committed to UN Sustainable Development Goals & UN Global Compact ❑ Adheres principle and core element of the National Guidelines on Responsible Business Conduct (NGRBCs) ❑ Structured approach to corporate governance by delegating specific responsibilities to vari
Slide 27: Leadership Team & Management
Leadership Team & Management
Slide 28: Seasoned Board of Directors
Seasoned Board of Directors Vinita Saraf - Non-Executive Director CA Ashok Jain - Whole Time Director & Mudit Kumar Singh - Independent Director Chief Financial Officer Experience : 38 Years and Chairperson Experience : 13 Years A senior retired bureaucrat from 1984 Batch of the IFS, Experience : 21
Slide 29: Experienced Management Team
Experienced Management Team Ashish Saraf - President Dr. Krishnadath Bhaggan - VP - R&D CS Deepak Sharma- CS & Compliance A B.Com, having over 33 years of experience Product Development He is an associate member of ICSI and having more Experience in R&D and Innovation for 22 yrs.+ He than 7 years of
Slide 30: Q4 & FY24 Performance Highlights
Q4 & FY24 Performance Highlights
Slide 31: Management Commentary – Q4 & FY24
Management Commentary – Q4 & FY24 Commenting on the results and performance, Mr. Ashish Saraf, President said: “I am happy to share that Manorama Industries has seen a significant revenue growth of 30.3% YoY, amounting to INR 4,571 million in FY24. This has been largely due to achieving operational
Slide 32: Q4 & FY24 Results Highlights
Q4 & FY24 Results Highlights Particulars (INR Millions) Q4FY24 Q4FY23 YoY Q3FY24 QoQ FY24 FY23 YoY Revenue 1,293.3 1,017.4 27.1% 984.5 31.4% 4,570.8 3,508.0 30.3% 30.3% Total Income grew by Cost of Goods Sold 745.8 675.8 10.4% 525.3 42.0% 2,502.1 2,156.6 16.0% YoY to INR 4,570.8 million in Gross P
Slide 33: Balance Sheet
Balance Sheet Equity and Liabilities (INR Millions) FY23 FY24 Assets (INR Millions) FY23 FY24 Share Capital 119 119 Non-Current Assets Other Equity 2,864 3,250 Plant, Property and Equipment 966 1,293 Total Equity 2,983 3,369 Capital Work in Progress 495 412 Borrowings 240 507 Other Non-Current Asset
Slide 34: Financial Snapshot
Financial Snapshot Revenue (in INR Millions) EBITDA (in INR Millions) & EBITDA Margin (%) 23.3% 17.1% 14.0% 16.1% 16.1% 4,571 3,508 735 2,791 565 2,026 439 389 1,882 347 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 PAT (in INR Millions) & PAT Margin (%) *Earnings Per Share (in INR) 12.4% 7.2% 8
Slide 35: Financial Snapshot
Financial Snapshot Return on Equity Return on Capital Employed 18.3% 32.8% 11.9% 20.3% 10.1% 10.0% 18.5% 9.0% 15.7% 13.0% FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Working Capital Analysis (in days) Net Debt to Equity 242 0.77 0.65 181 170 160 0.47 127 0.21 0.17 FY20 FY21 FY22 FY23 FY24 FY20
Slide 36: Appendix
Appendix
Slide 37: Recent Awards & Accolades (1/2)
Recent Awards & Accolades (1/2) Awarded ‘Eminent Excellence in ESG & Sustainable Creation of Business through waste, with support to thousands of forest dwellers’ Awarded as ‘Highest Processor of Minor Oil Seeds’ and ‘Highest Exporters of Tree Borne Oils And Mango Kernel Oil (Fats) From India’ Award
Slide 38: Recent Awards & Accolades (2/2)
Recent Awards & Accolades (2/2) Manorama Industries Annual Report 2022-23 was awarded as Gold Winner Worldwide from LACP 2022/23 Vision Awards Annual Report Competition securing 70th place amongst top 100 Global Companies 37
Slide 39: Recent Awards & Accolades (3/3)
Recent Awards & Accolades (3/3) Manorama Industries Limited Honored with The Prestigious MSME Patron Award for its significant contributions to industry advancement. Award received by Mrs Ekta Soni, Associate Vice President – IR on behalf of Mr Ashish Saraf, President of Manorama Industries Limited f
Slide 40: Client Testimonials
Client Testimonials Meet the Women of Manorama – Article Published on The Body Shop Website Article Published on Lush Website 39 Note: The Brand names mentioned are the property of their respective owners and are used here for identification purposes only
Slide 41: Shareholder Information
Shareholder Information Capital Market Data Shareholding Pattern March 2024 (%) Promoter MANORAMA / NSE Ticker /BSE Code 541974 38% FIIs Current Market Price 57% 580 MF (as on 10 May 2024) 3% 2% Other Market Cap (INR Crores) 3,457 (as on 10 May 2024) Share Price Movement (1 Year) 52 Week High/Low 67
Slide 42: Thank You!
THANK YOU! Contact Information Company : Manorama Industries Limited Investor Relations Advisors : CIN: L15142MH2005PLC243687 Mr. Vikash Verma/Mr. Hiral Keniya Ms. Ekta Soni Mr. Deepak Sharma Associate Vice President - IR Company Secretary & Compliance officer E: vikash.verma1@in.ey.com/ E: ekta@man