Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — Q3 FY2022 Earnings Presentation
34 slides from Mrs. Bector's Food Specialities's earnings presentation, Feb 15, 2022
Slide 1: Investor's Presentation cover letter to exchanges
MBFSL/CS/2021-22 15th February, 2022 To, To, Department of Corporate Relations, National Stock Exchange of India Ltd, BSE Limited, Exchange Plaza, C- 1, Block G, Phiroze Jeejeebhoy Towers, Bandra Kurla Complex, Bandra (East), Dalal Street, Mumbai – 400001 Mumbai– 400051 Scrip Code : 543253 Scrip Sym
Slide 2: Investor Presentation Q3 & 9M FY2022
INVESTOR PRESENTATION Q3 & 9M FY2022
Slide 3: 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 4: Q3 & 9M FY22 Financials
ONE STOP DESTINATION FOR a . ER: : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Q3 & 9M FY22 Financials
Slide 5: Segment Wise Revenues
Q3 FY22 Performance Highlights (YoY and 24 months comparison) Revenue from Operations* Biscuit Segment Bakery Segment Segment Wise Revenues 263 157 92 142 (Rs. Crs.) 226 +17% +11% 203 120 71 72 +29% Q3 FY20 Q3 FY21 Q3 FY22 Q3 FY20 Q3 FY21 Q3 FY22 Q3 FY20 Q3 FY21 Q3 FY22 Bakery segment has grown by 2
Slide 6: Q3 FY22 Performance Highlights (YoY & QoQ)
Q3 FY22 Performance Highlights (YoY & QoQ) Revenues EBITDA Profit After Tax EBITDA Margins have taken a hit 263 39.7 20.7 of 150 bps Q-o-Q due to further 246 +7% 226 34.7 33.3 18.1 increase in the prices of raw -4% 15.5 -14% material Q3 FY21 Q2 FY22 Q3 FY22 Q3 FY21 Q2 FY22 Q3 FY22 Q3 FY21 Q2 FY22 Q3
Slide 7: 9M FY22 Performance Highlights
9M FY22 Performance Highlights Segment Wise Revenues EBITDA Revenue from Operations (Rs. Crs.) 111.8 Biscuit Segment 97.0 -13% 736 67.4 657 +12% 436 450 +3% 339 568 9M FY20 9M FY21 9M FY22 9M FY20 9M FY21 9M FY22 Bakery Segment PAT ^One-time entry tax provision reversal of Rs. 5.5 crores 244 which h
Slide 8: Profit & Loss Statement – Q3 & 9M FY22
Profit & Loss Statement – Q3 & 9M FY22 Profit & Loss Statement (Rs. Crs.) Q3 FY22 Q3 FY21 Y-o-Y Q2 FY22 Q-o-Q 9M FY22 9M FY21 Y-o-Y Revenue from Operations 263.2 225.8 16.6% 246.3 6.9% 735.9 656.7 12.0% Cost of Materials Consumed 139.3 121.2 135.9 400.6 350.1 Purchase of stock-in-trade 4.1 - 3.7 10.
Slide 9: Expansion Projects – Completed & Ongoing
Expansion Projects – Completed & Ongoing 1 line of Bread and 1 Bun line 1 Biscuit Line Expansion of Bakery Plant at Greater Noida at Rajpura in Mumbai Company has purchased land The Company has invested Rs. 62 The Company has also started in Khopoli, Mumbai adjacent crores on additional line of Brea
Slide 10: Company Overview
COMPANY OVERVIEW
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 Digestives + Crackers + Cookies + Cream + Marie Pursuant to Brand separation Biscuits agreement, “Mrs. Bector’s Cremica” Brand is exclusive to Mrs. 1 + Private Label Bectors Food Specialities Limited for Biscuits Developed the brand “English Oven” for the Branded breads & Bra
Slide 13: Our business segments
Our business segments Biscuits Bakery Products Domestic Exports Consumer Bakery Institutional Bakery 4.5% of the premium and ~12% share of the total 5% market share in the 11% market share in semi Market Share^ mid-premium biscuits exports of biscuits from India Branded Breads Segment in processed a
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) (These
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 25% + Increase penetration in 64+ ~50% select export markets - South, Central and Have set up a subsidiary in UAE to Focus is on increasing premiumization in North America, the cater MENA and Exporting Share in the Indian Export under export market MENA regio
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 Brown Speciality Indian Western White Bread Sub Bread Indulgence Bread Breads Breads Bread 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 i
Slide 24: 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: Dedicated lines for manufacturing buns to serve QSR Stringent quality control and compliance with standards customers Industry best practices such as use of prem
Slide 25: 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 26: On ground brand building initiatives
On ground brand building initiatives Branding Activities Digital Marketing YouTube Merchandising In-Shop Mrs. Bectors Food Specialities Limited 25
Slide 27: Well positioned to capture growth
Well positioned to capture growth Right • Competitively well positioned across both segments – Biscuits & Breads and Bakery segment Business Mix Focus on • Significant increase in the price realization of Company’s products across all business segments; Premiumization • Continued focus on increasing
Slide 28: Historical Financials
ONE STOP DESTINATION FOR a . ER: : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Historical Financials
Slide 29: 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 30: 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 31: 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 32: 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 33: 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 34: Thank You
THANK YOU Company: CIN: L74899PB1995PLC033417 Mr. Parveen Goel Chief Financial Officer parveen.goel@cremica.in Investor Relations Advisors : Mr. Ashish Chovatia Mr. Irfan Raeen +91 99300 44680 +91 97737 78669 ashish.chovatia@linkintime.co.in irfan.raeen@linkintime.co.in
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