Modi Naturals Limited · NSE:MODINATUR
Modi Naturals — Q4 FY23 Earnings Presentation
41 slides from Modi Naturals's earnings presentation, May 31, 2023
Slide 1: Cover letter to BSE – Investor Presentation May 2023
May 31, 2023 Corporate Relationship Department Scrip Code: 519003 BSE Limited P. J. Towers, Dalal Street, Fort, Mumbai - 400 001 Dear Sir / Madam, Sub: Investor Presentation – May 2023 We are forwarding you a copy of Investor Presentation – May 2023 of the Company. This is for your kind information
Slide 2: Investor Presentation May 2023
Investor Presentation May 2023 1
Slide 3: Safe Harbour
Safe Harbour This presentation has been prepared by and is the sole responsibility of Modi Naturals 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 invitation or ind
Slide 4: Q4FY23 Result Highlights
Q4FY23 Result Highlights 3
Slide 5: Recent Developments
Recent Developments Branded Oil Business: • Volume has recovered after removal of stock limits, and we expect to see growth pick up in subsequent quarters. We have Consumer introduced 5 new articles in CSD for Q1FY24 and this should scale up over the year Business Food Business: • We have grown 40%
Slide 6: New Launches in the Food Business
New Launches in the Food Business Pasta Peanut Butter Pipo Brand Ready To Mix Beverages Under PIPO, we are extending We are extending our range of In Peanut Butter we are creating the portfolio and getting into New category of powdered ready to cook pasta and adding a vertical segmentation, wherein
Slide 7: Management Commentary
Management Commentary Commenting on the performance, Mr. Akshay Modi, Joint Managing Director, Modi Naturals, said ,“The performance for FY23 has been relatively soft owing to many challenges faced on account of the war in Ukraine and the consequent volatility in oil and other commodities, governmen
Slide 8: Profit & Loss Account
Profit & Loss Account Profit and Loss (in Rs. Crs) Q4FY23 Q4FY22 Y-o-Y Q3FY23 Q-o-Q FY23 FY22 Y-o-Y o Revenue from bulk oil business impacted Revenue from Operations 110.4 143.5 -23.1% 114.1 -3.2% 418.0 474.3 -11.9% due to severe correction in oil prices Cost of Goods Sold 90.4 118.6 85.3 329.5 373.
Slide 9: Balance Sheet
Balance Sheet Assets (in Rs. Crs) Mar-23 Mar-22 Equity & Liabilities (in Rs. Crs) Mar-23 Mar-22 Non - Current Assets 127.6 33.2 Total Equity 81.7 77.2 Share Capital 12.7 12.7 Property Plant & Equipment 27.0 25.8 Reserves & Surplus 65.7 64.5 Non-Controlling Interest 0.0 0.0 CWIP 91.4 0.0 Non-Current
Slide 10: Cash Flow
Cash Flow Particulars (Rs. Crs) Mar-23 Mar-22 Net Profit Before Tax 1.9 13.0 Adjustments for: Non-Cash Items / Other Investment or Financial Items 6.0 4.3 Operating profit before working capital changes 7.8 17.3 Changes in working capital -6.6 -25.5 Cash generated from/(used in) operations 1.2 -8.2
Slide 11: Our Business
Our Business
Slide 12: Business Verticals
Business Verticals Consumer Division Bulk Business Division Ethanol Division • 3rd Largest Premium Edible Oil Brand • Largest player in " Goodness of • One of the First Greenfield Grain • One of the Largest Rice Bran Oil olive oil“ based Ethanol Distilleries in Makers in India • 2nd Ranked Super-Pre
Slide 13: Modi Naturals - At A Glance
Modi Naturals - At A Glance 3rd Largest Super Premium Edible Oil Brand Largest in the Goodness of Olive Oil Space Position Unique Proposition Mfg. Units Distributors Direct Reach Modern Retail Only Player Making Multi-Source Olive Oil 3 450+ 50,000+ Retail Stores 3,000+ Outlets Premium Edible Oil IN
Slide 14: Product Portfolio
Product Portfolio BRANDED NON-BRANDED Ready To Cook Ready To Eat Edible Oil Segment Segment Rice bran oil Rice bran de-oiled cakes Rice bran wax ETHANOL 13
Slide 15: Consumer Business
Consumer Business Modi Natural’s Presence Super Premium Olivana, Extra Virgin Olive Oil, Olive Pomace Edible Oil Oil, Miller Canola Oil (Canola Oil, Olive Oil) Premium Multisource Oil Oleev Active, Oleev Health, Oleev Smart (Rice Bran + Olive Oil, Rice Bran + Canola Oil) Commodity Based Edible Oil (
Slide 16: Flagship Product – Oleev Active
Flagship Product – Oleev Active Health Benefits Multisource Oil Immune Booster Multisource Healthy Oil with a unique blend Rich in oryzanol that boost immunity and of Olive Oil and Rice Bran Oil in 20:80 ratio protects against many lifestyle diseases Healthy Oil Low Absorption Polyphenols in Oleev A
Slide 17: Sneak Peak Of The Oleev Brand
Sneak Peak Of The Oleev Brand Oleev Extra Virgin Oil Oleev Extra Light Oil Oleev Pomace Oil Oleev Health Oleev Smart ADVANTAGES • Easily digested and helps • Low on SFA that ensures • Vitamin E in Oleev Pomace • Contains Omega 3, 6, 9 along • Rich in vitamins A, D, E & K, with weight loss a smooth b
Slide 18: Other Brands
Other Brands Olivana Wellness Canola Oil Rizolo Oleev Kitchen - Pasta Peanut Butter ADVANTAGES • Rich in protein • 26gm protein per 100gm serving • Natural Olive Oil with • Omega 3 & 6 helps to • Low absorption technology, • Source of fibre • Source of Calcium, Potassium Vitamin E & Pro vitamin A im
Slide 19: From Rice To Oil
From Rice To Oil Rice Bran Air Separator Broken Rice Animal Feeds Steam Cooking & Drying Solvent Solvent Storage Solvent Extraction Desolventizing Deoiled Bran Refined Rice Bran Oil Condenser Distillation Crude Rice Bran Oil Degumming Decoloration Dewaxing Deodorization Degrease Modi Naturals Produc
Slide 20: From Rice To Ethanol
From Rice To Ethanol Grain Storage Milling Cooking Liquefaction DDGS* Distillation Fermentation To Fuel Market Storage 19 *Dried Distillers Grains Used for Animal Feed
Slide 21: De-coding the Ethanol Business
De-coding the Ethanol Business Ethanol made from surplus and damaged food grain such as broken or • Received an approval for 210 KLD distillery surplus rice instead of molasses. Rice as a product is best understood due to • The investment over the next 2 years is expected to be ~Rs 250 cr, with the
Slide 22: Ethanol – a step Towards Growth
Ethanol – a step Towards “Growth…..!” Increasing Blending Rate has led to Increased Production Capacity Molasses Grain Total (Cr Litre) Growth Opportunity for Modi Naturals 2x 3.5x 3x 20% 760 740 1,500 426 10% 658 257 258 5% 423 166 2020 2022 2025e 2020 2022 2025e 2020 2022 2025e 2020 2022 2025e The
Slide 23: Our Journey
Our Journey 1974-1985 1990-1991 1992-2002 1974: Incorporation of the Company 1990: Acquisition of Solvent plant (by sister 1992: Establishment of the edible oil 1985: Listed on BSE & Geographical concern Neha Oils Limited) in Pilibhit refinery in Pilibhit, U.P Greenfield solvent extraction plant 199
Slide 24: Transforming Into A Multi Brand FMCG Company
Transforming Into A Multi Brand FMCG Company Segment Sales Branded Sales Branded INR CR Non Branded +18% 38% 162 158 62% 128 111 43 100% FY15 FY20 FY21 FY22 FY23 Strategy Going Ahead • Increase revenue from branded sales • Premium grocery segment • Products include Olive Oil, Canola • Increased focu
Slide 25: Manufacturing Units
Manufacturing Units Pilibhit (Uttar Pradesh) Hyderabad Sonipat (Haryana) Rice Bran Oil & Oil Packing Line Oil Packing Line Popcorn Unit Solvent Extraction - 800 TPD Packing Line - 25 TPD Packing Line - 5 TPD Refinery - 100 TPD Packing Line - 50 TPD Owned Leased and thus Asset Light Leased and thus A
Slide 26: Marketing Strategy
Marketing Strategy
Slide 27: The Modi Naturals Advantage
The Modi Naturals Advantage Pipo Branded Products – Oleev Branded Products – Healthy Food Category Indulgent Snack Category Premium Edible Oils - Oleev Oleev Kitchen - Peanut Butter Popcorn Only company in India refining olive oil & selling blended olive oil Gluten Free & High Protein Premium Grocer
Slide 28: Distribution Channels
Distribution Channels E-Commerce Platforms Modern Trade Channels Direct Reach 50,000+ outlets Modern Retail Outlets 3,000+ Retail Sales Sales Depot 20+ Distributors 450+ Canteen Source Department 27
Slide 29: Lara Dutta- Brand Ambassador for Oleev Brand
Lara Dutta- Brand Ambassador for Oleev Brand • Oleev has appointed former Miss Universe and actor, Lara Dutta as the brand ambassador for their range of olive and multisource cooking oils • In the latest brand campaign released in Dec 2021, campaign has featured Lara Dutta’s proactive approach to a
Slide 30: Strategy Building
Strategy Building Leverage Multi–Brand Distribution Digital First Approach to brand building In-house D2C Platform Fitness Icon As Brand Ambassador Focused Social Media & Content Strategy Strong & Competitive Portfolio 29
Slide 31: Key Focus Areas
Key Focus Areas Multi – Brand Approach Health With Taste New Product Development Ethanol to be the growth in Branded Segment driver 30
Slide 32: Management Team
Management Team
Slide 33: Visionaries Driving The Business
Visionaries Driving The Business Mr. Anil Modi- Chairperson & Managing Director Mr. Akshay Modi – Joint Managing Director • Mr. Anil Modi, aged 63, is one of the founding members of Modi Engineer from the University of Leeds, U.K and an alumnus of The Naturals Limited Doon School • He is on the Boar
Slide 34: Board Of Directors
Board Of Directors Aditi Gupta Alok Garg – Independent Sudhir Shankar Halwasiya Sulabh Singal-Independent Whole Time Director Non - Executive Director Independant Director Non - Executive Director • Mr. S. S. Halwasiya, aged 59, is a • Mr. Sulabh Singhal has over 21 • Ms. Aditi Modi is a finance • M
Slide 35: Historical Financials
Historical Financials
Slide 36: Performance Highlights
Performance Highlights Revenue from Operation EBITDA PAT Rs in Crs 14.9 10.5 474.3 12.7 9.4 442.7 418.0 388.3 295.6 7.4 4.6 4.9 5.2 1.0 1.1 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 EBITDA % PAT % 3.1% 2.4% 2.9% 2.0% 1.9% 1.6% 1.2% 1.2% 0.3% 0.3% FY19 FY20 FY21 FY22
Slide 37: Balance Sheet Highlights
Balance Sheet Highlights Net Net Worth Worth Cash CashFlow Flow From Operations From Operations Net Net Block Block 27.0 Rs in Crs 25.8 12.3 77.2 81.7 19.6 19.3 19.2 67.9 57.4 4.0 52.7 1.2 -5.3 -8.2 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Return Return on Equity(%)
Slide 38: Profit And Loss
Profit And Loss Profit and Loss (in Rs. Crs) FY23 FY22 FY21 FY20 FY19 Revenue from Operations 418.0 474.3 442.7 388.3 295.6 Cost of Goods Solds 329.5 373.9 360.8 313.2 232.2 Gross Profit 88.4 100.4 81.9 75.2 63.4 Gross Profit Margin 21.2% 21.2% 18.5% 19.4% 21.4% Employee Cost 23.3 22.4 21.3 19.6 17.
Slide 39: Balance Sheet
Balance Sheet Assets (in Rs. Crs) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 Equity & Liabilities (in Rs. Crs) Mar-23 Mar-22 Mar-21 Mar-20 Mar-19 127.6 Total Equity 81.7 77.2 67.9 57.4 52.7 Non - Current Assets 33.1 22.1 24.0 26.9 Share Capital 12.7 12.7 12.7 12.7 12.7 Property Plant & Equipments 27.0 25.8
Slide 40: Cash Flow
Cash Flow Particulars (Rs. Crs) FY23 FY22 FY21 FY20 FY19 Net Profit Before Tax 1.9 13.0 14.0 3.6 2.5 Adjustments for: Non-Cash Items / Other Investment or Financial Items 6.0 4.3 1.7 7.1 2.4 Operating profit before working capital changes 7.8 17.3 15.7 10.7 4.9 Changes in working capital -6.6 -25.5
Slide 41: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Modi Naturals Limited Strategic Growth Advisors Pvt. Ltd. CIN - L15142DL1974PLC007349 CIN - U74140MH2010PTC204285 Mr. Ankit Agarwal Ms. Brinkle Shah Jariwala / Mr. Mandar Chavan brinkle.shah@sgapl.net/ mandar.chavan@sgap