Bikaji Foods International Ltd. · NSE:BIKAJI
Bikaji Foods International — Q3 FY2024 Earnings Presentation
35 slides from Bikaji Foods International's earnings presentation, Feb 2, 2024
Slide 1: Stock exchange filing cover letter
BIKAJI FOODS INTERNATIONAL LIMITED F 196-199, F 178 & E 188, Bichhwal Industrial Area, Bikaner, Rajasthan, India – 334006 T: +91-151-2250350 | F: +91-151-2251814 | E: cs@bikaji.com | W: www.bikaji.com CIN: L15499RJ1995PLC010856 | GST No.: 08AAICS1030P1Z5 Ref: BFIL/SEC/2023-24/148 Date: February 02,
Slide 2: 9M & Q3FY24 Earnings Presentation
BIKAJI FOODS INTERNATIONAL LIMITED 9M & Q3FY24 EARNINGS PRESENTATION February 2nd, 2024 | Bikaner
Slide 3: Table of Contents
TABLE OF CONTENTS FINANCIAL HIGHLIGHTS 4 SNAPSHOT 6 PRODUCT CATEGORIES 7 MANUFACTURING FACILITIES 9 PAN-INDIA NETWORK 10 MARKETING INITIATIVES 11 BUSINESS PERFROMANCE 15 KEY QUARTERLY HIGHLIGHTS/ 28 COMMENTARY ANNEXURES 29
Slide 4: Disclaimer
DISCLAIMER This presentation may have certain statements that may be “forward looking” including those relating to general business plans and strategy of Bikaji Foods International Ltd., its outlook and growth prospects. The actual results may differ materially from these forward-looking statements
Slide 5: Q3FY24 Key Financial Highlights
Q3FY24 KEY FINANCIAL HIGHLIGHTS Strong Quarter Performance with 31.5% Gross Margin & 12.0% EBIDTA Margin 22.9% 36.1% 15.0% Revenue from operations EBITDA PAT Rs 6,241 mn Rs 750 mn Rs 460 mn 29.5% underlying volume growth 31.5% 12.0% Gross margin at EBITDA Margin at (up 120 bps YoY) (up 120 bps YoY)
Slide 6: 9MFY24 Key Financial Highlights
9MFY24 KEY FINANCIAL HIGHLIGHTS Strong 9 months Performance with 32.4% Gross Margin & 13.3% EBIDTA Margin 14.0% 51.7% 51.5% Revenue from operations EBITDA PAT Rs 17,149 mn Rs 2,285 mn Rs 1,472 mn 16.7% underlying volume growth 32.4% 13.3% Gross margin at EBITDA Margin at (up 470 bps YoY) (up 330 bps
Slide 7: Q3FY24 Snapshot
Q3FY24 SNAPSHOT Highest volume growth Brand Investment Family Pack* Market - Contract with Amitabh Bachchan Delivered over 29.5% volume (YTD Dec-23: Contribution Leadership extended for next two years growth in Sales is 59.3%) - New Ad films – Product focused PAN India distribution Exports - Strengt
Slide 8: Product Categories
PRODUCT CATEGORIES
Slide 9: Product Categories
PRODUCT CATEGORIES Six principle product categories with 300+ products Bhujia Namkeen Packaged Sweets Largest producer of Bikaneri Bhujia^ Wide & diversified product portfolio One of largest manufacturers, in particular, of Rasgulla, Gulab Jamun & Soan Papdi in India Papad Western Snacks Other Snack
Slide 10: Strategically Located, Large Scale Manufacturing Facilities
STRATEGICALLY LOCATED, LARGE SCALE MANUFACTURING FACILITIES ADHERING TO STRINGENT QUALITY STANDARDS Below are upcoming manufacturing facilities. Frozen plant (Bikaner) has been commissioned in December 2023 as per plan. 9,600* 6,000* Other2 Namkeen Snacks 4,800* Installed Capacity as on 31st Decembe
Slide 11: Pan India Distribution
PAN INDIA DISTRIBUTION Direct Coverage (No. of outlets ) 3,00,000 2,50,000 2,31,775 Delhi / NCR 2,08,805 Ghaziabad 2,00,000 Varanasi 1,62,332 Ahmedabad 1,49,245 1,50,000 Raipur Pune 1,00,000 71,884 Core 50,000 Focused Others - Mar-22 Mar-23 Jun-23 Sep-23 Dec-23 Upcoming C&F/CFA C&F/CFA started in Q2
Slide 12: Festive Season Marketing Initiatives
FESTIVE SEASON MARKETING INITIATIVES
Slide 13: ATL Marketing Activities
ATL Marketing Activities TV view Bikaji x KBC Mobile view New TV Campaigns Ad. Placement to ensure maximum user interaction owing to which 0.17% TV Campaigns with focus on Specific Products like Papad, Nut Cracker, Crorepati Khokha users visited the webpage leading to purchase intent & product a
Slide 14: BTL Marketing Activities
BTL Marketing Activities Shopboards, POP & POS, Bus Branding, In-Store Branding, Hoardings, Arch Gates Social Media Overview 2000+ Shopboards, 240+ In-Store brandings, 200+Arch Gates & 45+ Hoardings Growth Rate – 33.8% since September 2023 Branding on 435+ buses for 2 months during festive sea
Slide 15: Overseas Marketing Activities
Overseas Marketing Activities Badshah Concert - London In shop and on ground branding, event sponsorships and sampling 2 Overseas shows with Badshah opportunities during festive season 14
Slide 16: Business Performance
BUSINESS PERFORMANCE
Slide 17: Q3FY24 Business Performance
Q3FY24 BUSINESS PERFORMANCE: (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 29.5% 22.9% 15.4% 27,119 34,444 35,108 5,077 6,087 6,241 3,392 4,162 3,914 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Packaged Sweets Western Snacks Papad 82.8% 9.9% 8.8% International
Slide 18: 9MFY24 Business Performance
9MFY24 BUSINESS PERFORMANCE: (INR Mn) Volume (in tonnes) Revenue from Operations Ethnic Snacks 16.7% 14.0% 13.6% 82,366 96,132 15,038 17,149 10,268 11,664 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Packaged Sweets Western Snacks Papad 18.7% 12.4% 2.1% International Exhibitions 2,122 2,519 1,231 1,383
Slide 19: Q3FY24 Product Mix
Q3FY24 PRODUCT MIX Packaged sweets contribution in overall sales in Q3 FY 23-24 is high on account of shift in season (in % ) Q3FY23 Q3FY24 Digital Campaigns 5.4 5.2 6.9 Ethnic Snacks 6.1 Ethnic Snacks 7.5 8.4 Packaged Sweets Packaged Sweets Western Snacks Western Snacks 12.3 18.2 Papad Papad 62.9 6
Slide 20: 9MFY24 Product Mix
9MFY24 PRODUCT MIX (in %) 9MFY23 9MFY24 Digital Campaigns 5.9 3.0 5.3 3.5 Ethnic Snacks Ethnic Snacks 8.2 8.1 Packaged Sweets Packaged Sweets 14.2 Western Snacks 14.8 Western Snacks Papad Papad 68.6 68.3 Others Others International Exhibitions 19
Slide 21: Q3FY24 Core & Focus Markets Performance
Q3FY24 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 11.5% 42.1% 4,290 4,202 931 854 655 3,767 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 Other Export 68.0% 82.2% 867 240 223 660 516 122 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 20
Slide 22: 9MFY24 Core & Focus Markets Performance
9MFY24 CORE & FOCUS MARKETS PERFORMANCE (INR Mn) Core Focus 10.5% 22.7% 12,062 10,915 2,516 2,051 9MFY23 9MFY24 9MFY23 9MFY24 Other Export 28.6% 24.1% 636 1,860 1,498 494 9MFY23 9MFY24 9MFY23 9MFY24 21
Slide 23: Q3FY24 Core & Focus Markets-wise Mix
Q3FY24 CORE & FOCUS MARKETS-WISE MIX (in %) Q3FY23 Q3FY24 2.4 3.6 10.2 13.9 12.9 15.0 67.5 74.4 International Core Focus Exhibitions Other Export Core Focus Other Export 22
Slide 24: 9MFY24 Core & Focus Markets-wise Mix
9MFY24 CORE & FOCUS MARKETS-WISE MIX (in %) 9MFY23 9MFY24 3.3 3.7 10.0 10.9 13.7 14.7 73.0 70.6 International Exhibitions Core Focus Other Export Core Focus Other Export 23
Slide 25: Q3FY24 Region-wise Performance
Q3FY24 REGION-WISE PERFORMANCE (INR Mn) East North 12.4% 21.1% 2,096 3,375 3,141 2,593 1,864 1,774 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 South West 73.7% 52.8% 251 544 219 404 356 126 Q3FY23 Q2FY24 Q3FY24 Q3FY23 Q2FY24 Q3FY24 24
Slide 26: 9MFY24 Region-wise Performance
9MFY24 REGION-WISE PERFORMANCE (INR Mn) East North 8.8% 15.1% 5,589 9,103 5,135 7,906 9MFY23 9MFY24 9MFY23 9MFY24 South West 39.3% 16.3% 577 1,169 414 1,005 9MFY23 9MFY24 9MFY23 9MFY24 25
Slide 27: Q3FY24 SKU Mix - Market Leader in Family Pack Segment
Q3FY24 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 29.4% 12.1% 3,836 2,390 2,183 3,574 1,947 2,964 Q3FY23 Q2FY24 Q3FY24 Q2FY23 Q2FY24 Q3FY24 Q3FY23 Q3FY24 38.5 35.1 58.6 61.7 Family packs Impulse packs Family packs Impulse packs 26
Slide 28: 9MFY24 SKU Mix - Market Leader in Family Pack Segment
9MFY24 SKU MIX- MARKET LEADER IN FAMILY PACK SEGMENT (INR Mn) Family Packs Impulse Packs 15.5% 11.5% 10,085 6,648 8,729 5,961 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 39.9 38.9 58.4 59.1 Family packs Impulse packs Family packs Impulse packs 27
Slide 29: Key Quarterly Highlights/Commentary
KEY QUARTERLY HIGHLIGHTS/COMMENTARY Key Financial Performance (INR Mn) Growth over 9 Particulars Q3 FY24 YoY (%) 9M FY24 months ended (%) Total revenue from 6,241 22.9% 17,149 14.0% Digital Campaigns operations EBITDA 750 36.1% 2,285 51.7% PAT 460 15.0% 1,472 51.5% Delivered overall volume growth
Slide 30: Key Materials Impact Analysis
KEY MATERIALS IMPACT ANALYSIS Edible Oil Moth Mogar 117.1 90.8 91.8 88.7 Digital Campaigns 88.5 86.0 Q3 FY 22-23 Q2 FY 23-24 Q3 FY 23-24 Q3 FY 22-23 Q2 FY 23-24 Q3 FY 23-24 Price Variance (in INR MM) Impact as % to revenue Price Variance (in INR MM) Impact as % to revenue Over International Exhibiti
Slide 31: Key Materials Impact Analysis
KEY MATERIALS IMPACT ANALYSIS Moong Fali Dana (Peanuts) Moong Dal – Talai 109.8 110.8 125.7 117.2 93.0 102.9 Digital Campaigns Q3 FY 22-23 Q2 FY 23-24 Q3 FY 23-24 Q3 FY 22-23 Q2 FY 23-24 Q3 FY 23-24 Price Variance Price Variance Impact as % to revenue Impact as % to revenue (in INR MM) (in INR MM) I
Slide 32: Key Materials Impact Analysis
KEY MATERIALS IMPACT ANALYSIS Chana Besan 75.1 63.8 59.0 Q3 Price Variance (YoY) Rs. 114.75Millions (1.8% of revenue) (Positive impact) Q3 FY 22-23 Q2 FY 23-24 Q3 FY 23-24 9MFY24 Price variance (YoY) Rs. 871 Millions (5.08% of revenue) Price Variance (Positive impact) Impact as % to revenue Internat
Slide 33: Sensitivity in Key Material Categories
SENSITIVITY IN KEY MATERIAL CATEGORIES Edible Oil Pulses and Flours 1.00 1.07 1.22 1.02 1.09 1.11 0.92 0.86 1.05 1.07 0.77 0.72 0.70 1.03 1.00 1.01 1.01 0.96 Digital Campaigns Laminates Corrugated Boxes 1.00 1.02 1.09 1.03 0.97 1.19 1.15 0.91 0.87 0.84 0.81 1.00 0.98 1.08 1.08 1.01 0.83 0.90 Interna
Slide 34: Consolidated Financial Performance | P&L
CONSOLIDATED FINANCIAL PERFORMANCE | P&L (INR Mn) Quarter ended Quarter ended Quarter ended 9M FY24 9M FY23 Particulars 31st December, 2023 30th September, 2023 31st December, 2022 31st December, 2023 31st December, 2022 Revenue from Operations 6,241 6,087 5,077 17,149 15,038 Other Income 58 60 123
Slide 35: Thank You
THANK YOU Bikaji Foods International Ltd. Rishabh Jain Prateek Sharma Email: rishabh@bikaji.com Email: prateek.sharma@bikaji.com Registered Office: Corporate Office: F 196 -199, F 178 & E 188 Plot No.E-558-561, C-569-572, Bichhwal IND. Area, E-573-577, F-585-592 Bikaner RJ 334006 IN. Karni Extension
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