Mrs. Bector's Food Specialities Ltd. · NSE:BECTORFOOD
Mrs. Bector's Food Specialities — H1 FY22 Earnings Presentation
38 slides from Mrs. Bector's Food Specialities's earnings presentation, Nov 15, 2021
Slide 1: Investor Presentation November 2021
INVESTOR PRESENTATION November 2021
Slide 2: 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 3: Q2 & H1 FY22 Financials
ONE STOP DESTINATION FOR SS . ER, : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Q2 & H1 FY22 Financials
Slide 4: Segment Wise Revenues
Q2 FY22 Performance Highlights (YoY and 24 months comparison) Revenue from Operations* Biscuit Segment Bakery Segment Segment Wise Revenues +15% +14% 246 153 +13% 83 228 148 +8% -3% (Rs. Crs.) 190 65 63 +32% 112 Q2 FY20 Q2 FY21 Q2 FY22 Q2 FY20 Q2 FY21 Q2 FY22 Q2 FY20 Q2 FY21 Q2 FY22 Biscuit segment
Slide 5: Q2 FY22 Performance Highlights (YoY & QoQ)
Q2 FY22 Performance Highlights (YoY & QoQ) Revenues EBITDA Profit After Tax +8% -8% -21% Gross Profit Margins have taken a 246 37.7 23.0 228 226 +9% 34.7 hit due to increased prices of 29.1 +19% 18.1 palm oil and packaging materials 13.3 +36% Q2 FY21 Q1 FY22 Q2 FY22 Q2 FY21 Q1 FY22 Q2 FY22 Q2 FY21 Q
Slide 6: Segment Wise Revenues H1 FY22
H1 FY22 Performance Highlights Revenue from Operations Biscuit Segment Bakery Segment +16% +14% 473 294 293 +11% 152 0% 431 +10% Segment Wise Revenues 124 +34% 365 219 113 (Rs. Crs.) H1 FY20 H1 FY21 H1 FY22 H1 FY20 H1 FY21 H1 FY22 H1 FY20 H1 FY21 H1 FY22 * Total Revenue includes revenue from other (
Slide 7: H1 FY22 Performance Highlights
H1 FY22 Performance Highlights EBITDA Profit After Tax* Margin Profile EBITDA Margins PAT Margins* -12% -19% 72.1 38.8 16.7% 9.0% 63.8 31.4 13.5% 6.7% H1 FY21 H1 FY22 H1 FY21 H1 FY22 H1 FY21 H1 FY22 H1 FY21 H1 FY22 *Last year, the Company had a one-time entry tax provision reversal of Rs. 5.5 crores
Slide 8: Strong Balance Sheet
Strong Balance Sheet Gross Debt (Rs. Crs.) Net Debt (Rs. Crs.) Working Capital Days Inventory 130 129 46 39 35 days Debtors Creditors 42 38 31 Sep-21 March 2021 – Inventory 45 days; Mar-21 Sep-21 Mar-21 Sep-21 Debtors 30 days; Creditors – 45 days (Total 30 days) Cash Flow from Operating Gross & Net
Slide 9: Profit & Loss Statement – Q2 & H1 FY22
Profit & Loss Statement – Q2 & H1 FY22 Profit & Loss Statement (Rs. Crs.) Q2 FY22 Q2 FY21 Y-o-Y Q1 FY22 Q-o-Q H1 FY22 H1 FY21 Y-o-Y Revenue from Operations 246.3 228.1 8% 226.4 9% 472.6 431.0 10% Cost of Materials Consumed 135.9 122.9 125.5 261.3 228.9 Purchase of stock-in-trade 3.7 0.0 2.7 6.4 0.0
Slide 10: Balance Sheet as on 30th September 2021
Balance Sheet as on 30th September 2021 EQUITY AND LIABILITIES (Rs. Crs.) 30-Sep-21 31-Mar-21 ASSETS (Rs. Crs.) 30-Sep-21 31-Mar-21 Equity Non-current assets Equity share capital 58.8 58.7 Property, plant and equipment 322.8 339.7 Other equity 390.7 372.5 Capital work-in-progress 69.5 55.3 Total Equ
Slide 11: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (Rs. Crs.) Sep-21 Sep-20 Cash Flow from Operating Activities Profit before Tax 42.2 52.1 Adjustment for Non-Operating Items 20.6 25.3 Operating Profit before Working Capital Changes 62.8 77.4 Changes in Working Capital -10.3 -2.8 Cash Generated from Operations
Slide 12: Expansion Projects
Expansion Projects 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 Bread and investment on an
Slide 13: Launch of NON STOP: Potato Crackers on 15th August
Launch of NON STOP : Potato Crackers on 15th August Your perfect, anytime snack Thin and crispy, with a hint of spicy masala – it tastes so great you can’t stop at one! And the best part - it’s baked, not fried – so you can munch on and on…. KEY MESSAGE : “SUPER THIN SUPER CRUNCH AB KHAO NON- STOP”
Slide 14: Launch of Whole Wheat Bun
Launch of Whole Wheat Bun • English Oven Whole Wheat Burger Buns are true café like burger buns which will elevate the Burger experience at home • The new age consumers who are socially active and looking for a Nutritiously Delicious meals will enjoy the Burgers made with English Oven Whole Wheat Bu
Slide 15: 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 16: 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 17: 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 18: 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 19: 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 20: 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 21: Biscuit Division
BISCUIT DIVISION
Slide 22: 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 23: 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 24: 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 25: 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 26: Bread & Bakery Division
BREAD & BAKERY DIVISION
Slide 27: 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 28: 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 29: 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 30: On ground brand building initiatives
On ground brand building initiatives Branding Activities Digital Marketing YouTube Merchandising In-Shop Mrs. Bectors Food Specialities Limited 30
Slide 31: 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 32: Historical Financials
ONE STOP DESTINATION FOR SS . ER, : : CREMICA Ss") wich tasté an crtanchiness Ov ES CREMICA Historical Financials
Slide 33: 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 34: 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 35: 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 36: 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 37: 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 38: Thank You
THANK YOU Company: CIN: L74899PB1995PLC033417 Mr. Parveen Goel Chief Financial Officer parveen.goel@cremica.in Investor Relations Advisors : Ms. Neha Shroff +91 7738073466 neha.shroff@linkintime.co.in
Mrs. Bectors Food Specialities — H1 FY22 Earnings Presentation on 6ix