Adf Foods Limited · NSE:ADFFOODS
Adf Foods — Q1 FY24 Earnings Presentation
33 slides from Adf Foods's earnings presentation, Aug 7, 2023
Slide 1: Covering letter to stock exchanges
7th August, 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: Invest
Slide 2: Investor Presentation August 2023
Investor Presentation August 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: Q1 FY24 Performance Highlights
Q1 FY24 Performance Highlights
Slide 6: Q1 FY24 Result Highlights
Q1 FY24 RESULT HIGHLIGHTS REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN PAT (₹ Cr ) & MARGIN Standalone Quarterly 10.1% 28.8% 24.9% 10.3% 20.7% 19.3% performance +17.2% +189.0% +121.0% 98.2 28.3 20.3 84.6 16.4 72.2 21.1 7.4 7.3 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 Q1FY23 Q4FY23 Q1FY24 9.3% 21.5% 19.5
Slide 7: Segment Wise Results Break Up
SEGMENT WISE RESULTS BREAK UP REVENUE (₹ Cr ) Particulate (₹ Cr) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue 450.3 Processed & Preserved Foods 86.3 78.6 9.8% 102.8 -16.0% 421.2 Distribution 26.1 18.6 40.4% 20.3 28.6% Total 112.4 97.2 15.7% 123.1 -8.7% 335.3 362.2 97.2 112.4 Results 78.6 86.3 Process
Slide 8: Q1 FY24 Standalone Profit & Loss
Q1 FY24 STANDALONE PROFIT & LOSS Particulate (₹ Cr) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q FY23 Revenue from Operations 84.6 72.2 17.2% 98.2 -13.9% 353.3 Cost of Materials consumed 38.1 38.3 36.6 143.6 Purchase of stock-in-trade 0.6 0.8 1.0 7.5 Changes in Inventories -5.4 -6.6 2.5 -0.5 Gross Profit 51.
Slide 9: Q1 FY24 Consolidated Profit & Loss
Q1 FY24 CONSOLIDATED PROFIT & LOSS Particulate (₹ Cr) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q FY23 Revenue from Operations 112.4 97.2 15.7% 123.1 -8.7% 450.3 Cost of Materials consumed 38.1 38.3 36.6 143.6 Purchase of stock-in-trade 13.3 13.6 8.1 56.9 Changes in Inventories 1.8 -2.5 13.4 14.0 Gross Prof
Slide 10: FY23 Result Highlights
FY23 RESULT HIGHLIGHTS REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN PAT (₹ Cr ) & MARGIN 17.6% 21.7% 13.7% 17.0% +17.0% +44.1% +44.6% Standalone FY23 353.3 performance 302.0 76.8 60.0 53.3 41.5 FY22 FY23 FY22 FY23 FY22 FY23 15.8% 17.9% 11.5% 12.4% Consolidated FY23 +6.9% +21.1% +15.1% performance 421.2 4
Slide 11: Standalone Performance Highlights
STANDALONE PERFORMANCE HIGHLIGHTS REVENUE (₹ Cr ) EBITDA (₹ Cr ) & MARGIN (%) PAT (₹ Cr ) & MARGIN (%) 19.7% 22.0% 17.6% 21.7% 16.4% 15.5% 13.7% 17.0% CAGR 353.3 +22.0% 76.8 60.0 CAGR CAGR 302.0 +26.0% +23.6% 236.6 53.3 41.5 52.0 36.7 194.5 31.8 38.3 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21
Slide 12: Key Developments – Q1 FY24
KEY DEVELOPMENTS – Q1 FY24
Slide 13: New Product Launches Throughout Q1 FY24 - Ashoka
NEW PRODUCT LAUNCHES THROUGHOUT Q1 FY24 - ASHOKA Frozen Curries under the ‘Food Services and Restaurants’ pack and Pure Butter Ghee New Launches Frozen Curries Pure Butter Ghee A bouquet of iconic Indian delectables Available in three quantities– 500g, 1 kg and 2 kg 12
Slide 14: Business Overview
BUSINESS OVERVIEW
Slide 15: 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 16: Business Snapshot with Multiple Growth Levers
BUSINESS SNAPSHOT WITH MULTIPLE GROWTH LEVERS 8 3 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 17: 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 18: With Meaningful Advertising & Marketing
… WITH MEANINGFUL ADVERTISING & MARKETING 17
Slide 19: And Positive Social Media Testimonials
… AND POSITIVE SOCIAL MEDIA TESTIMONIALS 18
Slide 20: Leading to Increase in Shelf Space for Ashoka
… LEADING TO INCREASE IN SHELF SPACE FOR ASHOKA 19
Slide 21: Focus on Creating Successful Brands
FOCUS ON CREATING SUCCESSFUL BRANDS ADF Soul Truly Indian ➢ Truly Indian is targeted at the global ➢ Products under ADF Soul brand have mainstream population been launched PAN India on ecommerce platform (https://soul-foods.in/). We ➢ Premium range of products are also present on Big Basket, Flipkar
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: 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 makhni, matar paneer Ready-to-cook ▪ Ready to eat Vegan- Bhind
Slide 24: Manufacturing Facilities
MANUFACTURING FACILITIES • Total Built up factory area - 15,000 Sqm • Nadiad, Frozen foods (Samosas, vegetables, Gujarat snacks, parathas, etc.) • Meal accompaniments (Pickles, chutneys, pastes, sauces) • Ready to eat curries & canned vegetables Manufacturing expansion Maharashtra • Total Built up f
Slide 25: 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 26: Certifications & Accreditations
CERTIFICATIONS & ACCREDITATIONS ISO 2200: 2018 certification by BVQI for management system standards BRC accreditation - Grade A . APEDA (Ministry of Commerce and Industries) Award for exceptional performance in Exports SMETA AUDIT Both our facilities undergo SMETA AUDIT for the 4 Pillars - Labour S
Slide 27: Customer Centric Approach
ae S) <6 oO a a a <= — ac -_ Zz Lu O a Lu 5 =—_ WN =) ro)
Slide 28: Strengthening Distribution
STRENGTHENING DISTRIBUTION Patanjali Ayurveda Ekaterra, based in The Netherlands, was formed as a Patanjali Ayurveda is a rapidly growing Indian Profile distinct division within Unilever containing a bouquet of multinational consumer goods company based in global tea brands. It was sold to CVC Capit
Slide 29: Governance Focused
GOVERNANCE FOCUSED
Slide 30: Consistent Shareholder Returns
CONSISTENT SHAREHOLDER RETURNS FY18 FY19 FY20 FY21 FY22 Rs 57.4 crores VALUE CREATION FOR Rs 6.6 crore Rs 30 crore Rs 6 crore Rs 6 crore Rs 8.8 crore Returned to SHAREHOLDERS Buyback Buyback Dividend Payout Dividend Dividend shareholders in the last Payout Payout 5 years 30.0 Consistent shareholder
Slide 31: 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 32: Board of Directors
BOARD OF DIRECTORS Bimal Thakkar Deepa Harris Chandir Gidwani Ravinder Jain Jay Mehta Viren Merchant Chairman, Managing Independent Director Independent Director Independent Director Non-Executive Director Non-Executive Director Director and CEO ▪ 35 37 years of experience ▪ 30+ years of expertise i
Slide 33: 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