Adf Foods Limited · NSE:ADFFOODS
Adf Foods — Q2 FY24 Earnings Presentation
32 slides from Adf Foods's earnings presentation, Oct 31, 2023
Slide 1: Exchange filing cover letter: Investor Presentation of Q2 & H1 FY24 Earnings Call
31st October, 2023 National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Department of Corporate Services, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers , Bandra (East), Dalal Street, Mumbai - 400 051. Mumbai - 400 001. Symbol: ADFFOODS Scrip Code: 519183 Dear Sir/Madam, Sub: Inve
Slide 2: Investor Presentation October 2023
FOODS LTD. Feeding the world. Investor Presentation October 2023
Slide 3: Safe Harbor
SAFE HARBOR This presentation and the accompanying slides (the “Presentation”), which have been prepared by ADF FOODS LTD (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and
Slide 4: About ADF Foods
ABOUT ADF FOODS ABOUT US ADF Foods (ADF) is a leading manufacturer of prepared ethnic food, offering frozen foods, ready-to-eat (RTE) items such as curries and rice, ready-to-cook (RTC) items, chutneys, sauces, pickles, spices, pastes, dips and milk drinks under its 8 Flagship brands. OUR BRANDS 3
Slide 5: Q2 & H1 FY24 Performance Highlights
Q2 & H1 FY24 PERFORMANCE HIGHLIGHTS
Slide 6: Q2 FY24 Result Highlights
Q2 FY24 RESULT HIGHLIGHTS REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN PAT (₹ Cr ) & MARGIN Standalone Quarterly 18.6% 24.9% 23.3% 15.7% 19.3% 18.2% performance +17.0% +46.2% +35.4% 97.3 21.1 22.7 17.7 83.2 84.6 16.4 15.5 13.1 Q2 FY23 Q1 FY24 Q2 FY24 Q2 FY23 Q1 FY24 Q2 FY24 Q2 FY23 Q1 FY24 Q2 FY24 16.9%
Slide 7: Segment Wise Results Break Up
SEGMENT WISE RESULTS BREAK UP REVENUE (₹ Cr ) Particulate (₹ Cr) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue 237.0 Processed & Preserved 203.9 106.5 82.9 28.5% 86.8 22.7% 193.3 159.8 21.0% Foods Distribution 18.2 23.9 -23.9% 25.6 -29.2% 43.8 44.2 -0.9% 124.6 193.3 Total 124.6 1
Slide 8: Q2 & H1 FY24 Standalone Profit & Loss
Q2 & H1 FY24 STANDALONE PROFIT & LOSS Particulate (₹ Cr) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue from Operations 97.3 83.2 17.0% 84.6 15.1% 181.9 155.3 17.1% Cost of Materials consumed 39.1 34.4 38.1 77.3 72.7 Purchase of stock-in-trade 0.7 1.2 0.6 1.3 2.0 Changes in Invent
Slide 9: Q2 & H1 FY24 Consolidated Profit & Loss
Q2 & H1 FY24 CONSOLIDATED PROFIT & LOSS Particulate (₹ Cr) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue from Operations 124.6 106.7 16.8% 112.4 10.9% 237.0 203.9 16.2% Cost of Materials consumed 39.1 34.4 38.1 77.3 72.7 Purchase of stock-in-trade 16.4 18.0 13.3 29.8 31.6 Changes
Slide 10: H1 FY24 Consolidated Balance Sheet
H1 FY24 CONSOLIDATED BALANCE SHEET Equity & Liabilities (₹ Cr) Sep’23 Mar’23 Assets (₹ Cr) Sep’23 Mar’23 Equity Non-Current Assets (a) Equity share capital 22.4 22.4 (a) Property, plant and equipment 130.9 129.1 (b) Other equity 417.8 396.9 (b) Capital Work-in-Progress 9.0 6.7 (b) Non-controlling in
Slide 11: H1 FY24 Consolidated Cash Flow Statement
H1 FY24 CONSOLIDATED CASH FLOW STATEMENT Cash Flow Statement (₹ Cr) Sep’23 Sep’22 Cash Flow from Operating Activities Profit before Tax 40.8 27.2 Adjustment for Non-Operating Items 4.3 4.1 Operating Profit before Working Capital Changes 45.1 31.3 Changes in Working Capital 14.1 -23.8 Cash Generated
Slide 12: Key Developments – Q2 FY24
KEY DEVELOPMENTS – Q2 FY24
Slide 13: Investing for the Future – Senior Management Hiring
INVESTING FOR THE FUTURE – SENIOR MANAGEMENT HIRING Mr. Arjuun Guuha – Director - Operations Mr. Arjuun Guuha is a Chemical Engineer and has done his Executive MBA from ISB. He is a senior food industry professional, with over 29 years of experience. He has held several senior management roles, incl
Slide 14: New Product Launches Throughout Q2 FY24 - Soul
NEW PRODUCT LAUNCHES THROUGHOUT Q2 FY24 - SOUL Traditional Pickles Now also available in 400g 13
Slide 15: Business Overview
BUSINESS OVERVIEW
Slide 16: Business Divisions
BUSINESS DIVISIONS Revenue (₹ Cr ) PROCESSED FOODS BUSINESS CAGR Large range of products suited for +12.7% 362 335 different palates 293 253 20% One of the top brands in ethnic food shelves in key markets One of the largest Indian exporters of processed food FY20 FY21 FY22 FY23 CAGR DISTRIBUTION BUS
Slide 17: Business Snapshot with Multiple Growth Levers
BUSINESS SNAPSHOT WITH MULTIPLE GROWTH LEVERS 8 2 55+ 2 Strong Net Debt Free BRANDS MANUFACTURING COUNTRIES WAREHOUSES in US DISTRIBUTION HEALTHY FACILITIES for Distribution NETWORK BALANCE SHEET Growth Opportunities Capacity Expansion PLI Scheme Focus • Greenfield project in Surat to increase • 50%
Slide 18: Strengthening Brand Ashoka
STRENGTHENING BRAND ASHOKA… Ashoka as a brand has About grown ~2X in last 2 years Ashoka is our flagship brand targeted towards the Indian diaspora Sold in 55+ Countries 211 Authentic Indian taste – with Ashoka in your kitchen, it will be your home away +33.2% from home 157 We strive to make
Slide 19: With Meaningful Advertising & Marketing
… WITH MEANINGFUL ADVERTISING & MARKETING 18
Slide 20: And Positive Social Media Testimonials
… AND POSITIVE SOCIAL MEDIA TESTIMONIALS 19
Slide 21: Leading to Increase in Shelf Space for Ashoka
… LEADING TO INCREASE IN SHELF SPACE FOR ASHOKA 20
Slide 22: A Bouquet of Other Global Brands
A BOUQUET OF OTHER GLOBAL BRANDS Positioning Products Geographies Retail Channel Premium brand targeted at Arabic Meal accompaniments, pastes, Middle East 95% from mainstream/ modern diaspora sauces trade stores Economy Brand Meal accompaniments, pastes, Middle East 65% from mainstream/modern sauces
Slide 23: Focus on Creating Successful Brands
FOCUS ON CREATING SUCCESSFUL BRANDS ADF Soul Truly Indian Products under ADF Soul brand have Truly Indian is targeted at the global been launched PAN India on ecommerce mainstream population platform (https://soul-foods.in/). We Consumers can choose from array of are also present on Big Basket
Slide 24: Product Portfolio
PRODUCT PORTFOLIO Select key products Snacks- Punjabi Samosas, Batata Vada, Kathi Rolls Frozen Products Vegetables- Green Chilli, Mix Vegetable Cut, Methi, Palak Breads- Naans, Parathas Ready-to-eat & Ready to eat- Pav Bhaji, Dal Makhani, Matar Paneer Ready-to-cook Ready to eat Vegan- Bhin
Slide 25: Manufacturing Facilities
MANUFACTURING FACILITIES • Total Built up factory area - 15,000 Sqm • Frozen foods (Samosas, vegetables, Manufacturing expansion snacks, parathas, etc.) initiatives • Meal accompaniments (Pickles, chutneys, pastes, sauces) Existing Facilities • Ready to eat curries & canned vegetables Fresh capex
Slide 26: Warehousing and Distribution Facilities
Atlanta, USA (34,000 sq.ft.) Warehousing and Distribution Facilities Atlanta, USA New cold storage facility in New Jersey, USA We have a combined 1,00,000 sq. ft of area for warehousing and distributing operations shared among two warehouses in Atlanta and New Jersey. The capability enhancement with
Slide 27: Certifications & Accreditations
CERTIFICATIONS & ACCREDITATIONS 26
Slide 28: Governance Focused
GOVERNANCE FOCUSED
Slide 29: Consistent Shareholder Returns
CONSISTENT SHAREHOLDER RETURNS VALUE CREATION FOR Rs. 112.3 Crores returned to our shareholders since FY 18 SHAREHOLDERS 43.9 Consistent shareholder value creation through dividend payouts and 30.0 buyback of shares *Special Dividend of Rs. 4 11.0 per share (200% of face 8.8 6.6 6.0 6.0 value) decla
Slide 30: Corporate Social Responsibility (CSR)
CORPORATE SOCIAL RESPONSIBILITY (CSR) Education support Covid Measures Clean India Mission Women Empowerment program ₋ Partnered with NGOs for supply of oxygen ₋ Swachch Bharat Abhiyaan: Constructed over 100 ₋ Partnered with several education not-for-profit ₋ ADF helps in the cause of giving women a
Slide 31: Board of Directors
BOARD OF DIRECTORS Bimal Thakkar Jay Mehta Non-Executive Deepa Harris Chandir Gidwani Chairman, Managing Director Independent Director Independent Director Director and CEO 37 years of experience in domestic and export 35+ years of rich industrial experience 30+ years of expertise in highend l
Slide 32: Thank You
THANK YOU ADF Foods Limited CIN: L15400GJ1990PLC014265 Mr. Shardul Doshi, CFO shardul@adf-foods.com Mr. Devansh Dedhia +91 9930147479 Devansh.dedhia@linkintime.co.in Mr. Irfan Raeen +91 9773778669 Irfan.raeen@linkintime.co.in