Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — Q4 FY24 Earnings Presentation
42 slides from Mrs. Bector's Food Specialities's earnings presentation, May 31, 2024
Slide 1: Exchange filing cover letter: Investor's Presentation
MBFSL/CS/2024-25 31st May, 2024 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 Symbol :
Slide 2: Q4 & FY24 Investor Presentation
Q4 & FY24 INVESTOR THE MAGIC OF BAKING PRESENTATION May 2024
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: Supportive Macro Drivers
Supportive Macro Drivers India’s growth story continues amidst global slowdown with continued easing of Retail Inflation India’s Real GDP Growth CPI Inflation 7.9 8 7.4 6.8 7.0 6.8 6.5 7 6 5.6 5.7 5.0 4.9 5.1 5.1 4.9 4.8 5 4 3 2 1 0 FY18 FY19 FY23 FY24 E Jul-23 Aug-23 Sep-23 Oct-23 Nov-23 Dec-23 Jan
Slide 5: India's Consumption Story
India’s Consumption Story Global consumption market - India remains one of India's consumption growth (in nominal terms) the key consumer markets in the world outpaced China, US and Germany (in US$ terms) 20 18.6 8 2013 2023 7.2 7.1 Last 10-yr CAGR (2023) 7 15 6 5.0 5 11.4 4 10 3 6.9 2 1.0 1 5 0 3.5
Slide 6: Mrs Bector Foods: At a Glance
Mrs Bector Foods: At a Glance 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, and staff. This is a very p
Slide 7: Large & Diverse Portfolio
Large & Diverse Portfolio DOMESTIC BISCUITS BAKERY Domestic Range Of Cookies, Creams, Digestives, Marie And Crackers Breads, Bakery & Gourmet EXPORTS QSR + B2B Exports Range Of Crackers, Cookies, and Creams Largest & Most trusted QSR player The brand names mentioned are the property of their respect
Slide 8: Performance Update
PERFORMANCE UPDATE THE MAGIC OF BAKING
Slide 9: Consolidated Performance Scorecard – Q4 FY24
Consolidated Performance Scorecard – Q4 FY24 Net Revenue EBITDA % PAT Q4 FY24 Q4 FY24 Q4 FY24 Rs 406 Crore 14.4% Rs 34 Crore 12 Months Growth 12 Months Growth 12 Months Growth +17% +22% +22% 24 Months Growth 24 Months Growth 24 Months Growth +61% +130% +230% 8
Slide 10: Consolidated Performance Scorecard – FY24
Consolidated Performance Scorecard – FY24 Net Revenue EBITDA % PAT FY24 FY24 FY24 Rs 1624 Crore 14.9% Rs 140 Crore 12 Months Growth 12 Months Growth 12 Months Growth +19% +38% +56% 24 Months Growth 24 Months Growth 24 Months Growth +64% +98% +146% 9
Slide 11: Segment Wise Revenues Q4 FY24
Consolidated Q4FY24 Performance Highlights (YoY and 24 months comparison) Revenue from Operations* Biscuit Segment Bakery Segment 240 151 406 Segment Wise Revenues +17% 203 +18% 128 +18% 346 (Rs. Crs.) 252 143 95 Q4FY22 Q4FY23 Q4FY24 Q4FY22 Q4FY23 Q4FY24 Q4FY22 Q4FY23 Q4FY24 • Biscuit segment revenu
Slide 12: Segment Wise Revenues FY24
Consolidated FY24 Performance Highlights (YoY and 24 months comparison) Biscuit Segment Bakery Segment Revenue from Operations 1624 +19% 990 573 1362 +23% +18% Segment Wise Revenues 487 807 988 (Rs. Crs.) 592 339 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 ➢ Biscuit Segment includes Domestic, Expor
Slide 13: Consolidated Profit & Loss Statement – Q4 & FY24
Consolidated Profit & Loss Statement – Q4 & FY24 Profit & Loss Statement (Rs. Crs.) Q4 FY24 Q4 FY23 Y-o-Y Q3 FY24 Q-o-Q FY24 FY23 Y-o-Y Revenue from Operations 406.4 346.1 17.4% 428.9 -5.2% 1623.9 1362.1 19.2% Cost of Materials Consumed 205.5 172.6 211.0 833.6 737.7 Purchase of stock-in-trade 8.7 7.
Slide 14: Consolidated Balance Sheet as on 31st March 2024
Consolidated Balance Sheet as on 31st March 2024 EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-24 31-Mar-23 ASSETS (Rs. Crs.) 31-Mar-24 31-Mar-23 Equity Non-current assets Equity share capital 58.8 58.8 Property, plant and equipment 491.6 407.6 Other equity 604.1 485.5 Capital work-in-progress 94.4 48.7
Slide 15: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-24 Mar-23 Cash Flow from Operating Activities Profit before Tax 188.3 120.7 Adjustment for Non-Operating Items 61.4 61.3 Operating Profit before Working Capital Changes 249.7 182.0 Changes in Working Capital -47.2 11.8 Cash Generate
Slide 16: Outlook & Approach
OUTLOOK & APPROACH THE MAGIC OF BAKING
Slide 17: 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 18: Growth Potential in Bread & Bakery Business
Growth Potential in Bread & Bakery Business Indian Breads & Buns Market Chain QSR Market (Rs. Bn.) Indian Bread Market size was Rs. 50 bn in FY20 of (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% +19%
Slide 19: Our Approach
Our Approach APPROACH Augmenting Distribution • Omni Channel Approach – Available on all touch points – Retail, MT, Ecom (B2C and B2B) • Cremica Preferred Outlets – Retail Loyalty to drive Share in Large Outlets • Calibrated Expansion Plans by increasing “Feet on Street” • South and West – Long term
Slide 20: Expanding Domestic Distribution Network
Expanding Domestic Distribution Network Existing Geographies New Geographies States with supplies to CSD Depot Strong Multi Channel Robust Supply Chain & Distribution Network* Distribution for Best-in-Class Freshness 16 Depots 490+ Super 4,000+ CPOs Delhi NCR Mumbai, Bengaluru Stockists + North Pune
Slide 21: Cremica Brand footprint in 65+ Countries
Cremica Brand footprint in 65+ Countries AMERICA Bouquet of Unique International Offerings 70+ AFRICA Dedicated Subsidiary Setup in UAE to cater MENA and African Overall Number markets, plans to EUROPE expand footprint in of Countries Catered FY24-25 MIDDLE EAST Association with Walmart - Part of Wa
Slide 22: 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 23: Kareena Kapoor Khan as Celebrity mother
Kareena Kapoor Khan as Celebrity mother Connects with all Age Groups and embodies High Quality and Trust 22
Slide 24: Continuous Brand Building Initiatives
Continuous Brand Building Initiatives Cremica Brand TVC English Oven On Ground Visibility with Kareena Kapoor Khan Digital Campaigns Top Cities – Cremica & English Oven 23
Slide 25: Continuous Portfolio Enhancement
Continuous Portfolio Enhancement New Launch Extension of Milkyz and Bakefit Millets New Launch Cremica Cashew Rs 10/- Continues Preservative Free Cakes at Rs 10/- Packaging Renovation New Launch Portfolio Extension – Atta Kulcha & 12pc Pav 24
Slide 26: Capability Development – Foray into Frozen
Capability Development – Foray into Frozen Flaked Buttery Laminated Filled Puff Artisan Cookies High Disposable Incomes, Products Exposure to International Cuisines Fast Expanding QSR Universe, aided by Tier 2 Expansions Filled Snacks Dessert Spreads Need for High Quality Bakery Offerings with robus
Slide 27: English Oven ~New Retail Look
English Oven ~New Retail Look 26
Slide 28: English Oven ~New Retail Look
English Oven ~New Retail Look 27
Slide 29: 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. 469+ crores between FY20 to FY24 to build capacities with superior capabilities Specifically, sourced best in class equipment from Denmark, Germany, US an
Slide 30: Expansion Projects
Expansion Projects Additions in Rajpura • 2 Biscuit Lines have been commissioned in Rajpura in FY23-24 (Punjab) • 2 more lines are being added and estimated to be completed by H1’24-25 • Bhiwadi plant has been commissioned in FY23-24 Addition in Bakery Business • The company will be setting up a new
Slide 31: Future Ready Production | Capacity Utilization
Future Ready Production | Capacity Utilization Biscuits Bakery (Metric Tonnes) (Metric Tonnes) Phillaur, Punjab Tahliwal, Himachal Current Capacity 1,48,344 94,984 Rajpura, Punjab Greater Noida, UP Additional Planned 38,760 24,741 Bhiwadi, Rajasthan Total 1,87,104 1,19,725 Dhar, MP Kolkata, West Ben
Slide 32: Project IMPACT 1.0
PROJECT IMPACT 1.0 (Initiatives for Mrs. Bectors' Cost Transformation) We have initiated Project IMPACT 1.0, a journey towards cost transformation throughout the organization Key Enablers Procurement & Packaging Logistics • Strategic sourcing for raw materials • Optimizing supply chain network and •
Slide 33: Goodness Together - Building Communities around us
‘Goodness Together’ - Building Communities around us Under “Goodness Together”, we continuously look for every opportunity to develop the community around us School Infrastructure 90+ Mobile Health Camps Hospital Infra Development Women’s Health & Hygiene Facility for Technical skills Ponds & Water
Slide 34: Historical Financials
HISTORICAL FINANCIALS THE MAGIC OF BAKING
Slide 35: Consolidated Segment Performance Highlights
Consolidated Segment Performance Highlights *Revenue from Operations Segment Wise Revenues (Rs. Crs.) Biscuit Segment Bakery Segment 1624 991 572 +19% 1362 +23% 487 +17% 807 988 881 574 592 339 259 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 * Total Revenue includes revenue from cont
Slide 36: Consolidated Historical Financials
Consolidated Historical Financials Revenues (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 1,624 242 140 1,362 175 988 90 881 141 123 72 57 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 > Gross Profit Margins EBITDA Margins PAT Margins 47.6% 46.7% 16.0% 8.2% 8.6% 44.2% 44.6% 14.9% 12.4% 1
Slide 37: Consolidated Balance Sheet strength
Consolidated Balance Sheet strength Net Debt to Equity 0.2 Working Capital (in Days) 0.1 0.1 0.1 Working 30 42 25 29 Capital (in Days) Mar-21 Mar-22 Mar-23 Mar-24 52 Cash Flow from Operations (Rs. Crs.) 45 45 44 45 38 39 38 164 30 28 30 153 24 110 84 Mar-21 Mar-22 Mar-23 Mar-24 Inventory Debtors Cre
Slide 38: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Profit & Loss Statement (Rs. Crs.) FY24 FY23 FY22 FY21 Revenue from Operations 1623.9 1,362.1 988.2 880.7 Cost of Materials Consumed 833.6 737.7 536.0 467.8 Purchase of stock-in-trade 40.6 23.8 15.6 0.6 Changes in Inventories of Finished Goods and Work
Slide 39: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet EQUITY AND LIABILITIES (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Equity Equity share capital 58.8 58.8 58.8 58.7 Other equity 604.1 485.5 410.2 372.5 Total equity 662.9 544.3 469.0 431.2 Non-current liabilities Financial liabilities (i) Borrowings 149.0
Slide 40: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet ASSETS (Rs. Crs.) 31-Mar-24 31-Mar-23 31-Mar-22 31-Mar-21 Non-current assets Property, plant and equipment 491.6 407.6 391.4 339.7 Capital work-in-progress 94.4 48.7 11.9 55.3 Right-of-use assets 31.9 18.2 19.2 14.2 Goodwill 0.4 0.4 0.4 0.4 Other intangible asse
Slide 41: Consolidated Historical Cash Flow Statement
Consolidated Historical Cash Flow Statement Cash Flow Statement (Rs. Crs.) Mar-24 Mar-23 Mar-22 Mar-21 Cash Flow from Operating Activities Profit before Tax 188.3 120.7 75.7 97.1 Adjustment for Non-Operating Items 61.4 61.3 46.5 47.4 Operating Profit before Working Capital Changes 249.7 182.0 122.2
Slide 42: Thank You
Company: THANK YOU CIN: L74899PB1995PLC033417 Investor Relations Advisors : Mr. Parth Patel Mr. Irfan Raeen +91 98197 85972 +91 97737 78669 parth.patel@linkintime.co.in irfan.raeen@linkintime.co.in
Mrs. Bectors Food Specialities — Q4 FY24 Earnings Presentation on 6ix