Sundrop Brands Limited Shs Dematerialised · NSE:SUNDROP
Sundrop Brands Limited Shs Dematerialised — Agro Tech Foods — Q4 FY2023 Earnings Presentation
19 slides from Sundrop Brands Limited Shs Dematerialised's earnings presentation, Apr 28, 2023
Slide 1: Regulation 30 disclosure letter to stock exchanges
28th April, 2023 The Manager, The Manager BSE Limited, Listing Department Floor 25, Pheroze Jeejeebhoy Towers, National Stock Exchange of India Limited Dalal Street, Exchange Plaza, Bandra-Kurla Complex, Mumbai - 400 001. Bandra (E), Mumbai – 400 051. Ph. No. 022- 22721233 / 22721234 Ph.No. 022- 265
Slide 2: ATFL FY'23 Q4 Results Update
ATFL FY’23 Q4 Results Update April 28th, 2023
Slide 3: Company Strategic Vision
Company Strategic Vision The Best Performing Most Respected Foods Company in India 2
Slide 4: Quarter 4/FY'23 – Key Performance Highlights
Quarter 4/FY’23 – Key Performance Highlights Steady Foods Growth – Improving Margins • Q4 Foods Revenues of Rs. 103 crore - 3% higher than PY - reflecting Covid19 Third Wave in Jan/Feb 2022. FY’23 Foods Growth of 9%. • Both Foods & Staples show moderate growth on full year basis in Gross Margin. GM
Slide 5: Performance Highlights by Category
Performance Highlights by Category 1. Ready to Cook 2. Ready to Eat -Western 3. Spreads (Rs. 18,000 crore) (Rs. 28,500 crore) (Rs. 3400 crore) 4. Breakfast Cereals 5. Chocolate Confectionery 6. Staples (Rs. 3500 crore) (Rs.13,600 crore) (N.A.) 4 * Category Sizes in Brackets – At Retail Price
Slide 6: Ready to Cook Snacks
Ready to Cook Snacks Q1, Q2 Q3, Q4, RTC FY’23 FY’23 FY’23 FY’23 FY’23 Volume -5% -4% -6% -8% -5% Value -4% +1% -3% -7% -3% • Volume attrition in the RTC category held at 5%. • Elevated level of Media investments, Expansion of Distribution and Effective Use of the Rs.15 Pack with Retail Demos key to
Slide 7: Ready to Eat Snacks
Ready to Eat Snacks Q1 Q2 Q3, Q4, YTD RTE FY’23 FY’23 FY’23 FY’23 FY’23 Volume +65% +32% +36% +27% +37% Value +79% +50% +37% +30% +45% • Strong Volume growth driven by strengthening of RTE Popcorn with clear All India leadership. • Sweet Snacks start to gain momentum – Caramel Bliss/Duo Cruncheez –
Slide 8: Spreads & Dips
Spreads & Dips Q1 Q2 Q3 Q4, Spreads FY’23 FY’23 FY’23 FY’23 FY’23 Volume +28% +30% +20% +9% +22% Value +10% +14% +5% +3% +8% • Successfully able to defend our turf under threat by India’s largest FMCG Company and DTC players. • Going forward continue to defend base business, while enhancing future G
Slide 9: Breakfast Cereals
Breakfast Cereals Q1 Q2 Q3 Q4, Cereals FY’23 FY’23 FY’23 FY’23 FY’23 Volume +54% +40% +67% +38% +49% Value +58% +46% +60% +42% +51% • Expansion of Center Filled Cereals and roll out of Value Added Oats ensure strong Category Growth. • Center Filled Cereals driven by Distribution Expansion & introduc
Slide 10: Chocolates
Chocolates Q1 Q2 Q3 Q4, Chocolates FY’23 FY’23 FY’23 FY’23 FY’23 Volume +218% +94% +28% +24% +59% Value +252% +105% +38% +30% +69% • Significant supply chain issues in FY’23 with growth lower than expectations. • Going forward expect that we will be able to establish the required Supply Chain rhythm
Slide 11: Staples
Staples Q1 Q2 Q3 Q4, Premium Staples FY’23 FY’23 FY’23 FY’23 FY’23 Volume -12% -9% -15% -14% -12% Value -8% -0% -10% -12% -8% Q1 Q2 Q3 Q4, Mass Staples FY’23 FY’23 FY’23 FY’23 FY’23 Volume -74% -70% -60% -22% -62% Value -71% -65% -53% -10% -56% • Margin successfully held in Premium Staples despite U
Slide 12: Competitive Update
Competitive Update
Slide 13: Snacks: Competition Spends
Snacks: Competition Spends Rs (in Million) FY17 FY18 FY19 FY20 FY21 Q1-22 Q2-22 Q3-22 Q4-22 FY22 Q1-23 Q2-23 Q3- 23 Jan-23 Feb-23 Mar23 Q4-23 FY23 ACT II 110 74 38 45 95 18 31 11 20 80 15 21 25 15 15 0 30 91 Lays 148 374 252 491 335 238 202 127 175 742 333 409 406 57 110 120 287 1435 Kurkure 196 260
Slide 14: Spreads: Competition Spends
Spreads: Competition Spends Rs Million F-13 F-14 F-15 F-16 F-17 F18 F-19 FY-20 FY-21 Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Jan-23 Feb-23 Mar-23 Q4-23 FY-23 Kissan Jam- 254 207 304 381 357 512 704 752 679 156 154 138 124 572 133 171 106 75 54 39 168 578 Kissan PB 196 109 129 125 146 508 106
Slide 15: Breakfast Cereals: Competition Spends
Breakfast Cereals: Competition Spends Rs Million FY-17 FY-18 FY-19 FY-20 FY-21 Q1-22 Q2- 22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Jan-23 Feb-23 Mar-23 Q4-23 FY-23 Kellogg Cornflakes 202 265 390 230 355 124 124 108 171 526 136 152 141 60 75 76 211 639 Kellogg Chocos Fills 0 125 203 17 9 0 0 20 29 49 20
Slide 16: Chocolates: Competition Spends
Chocolates: Competition Spends Rs Million FY- 18 FY- 19 FY-20 FY-21 Q1-22 Q2-22 Q3- 22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Jan-23 Feb-23 Mar-23 Q4-23 FY-23 Cadbury 5 Star 744 482 727 960 150 276 377 256 1058 153 461 209 78 75 92 245 1067 Cadburys Celebration 138 212 277 399 56 370 11 437 7 106 310 4 8 7 1
Slide 17: Edible Oils: Competition Spends
Edible Oils: Competition Spends Rs F-12 F-13 F-14 F-15 F-16 F-17 F-18 F-19 FY-20 FY-21 Q1-22 Q2-22 Q3-22 Q4-22 FY-22 Q1-23 Q2-23 Q3-23 Jan-23 Feb-23 Mar-23 Q4-23 FY-23 Million Sundrop 88 94 50 65 46 34 21 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Saffola 121 212 356 291 338 320 588 544 527 400 116 86 68 106 3
Slide 18: ATFL Growth Trajectory – FY'23 Update
ATFL Growth Trajectory – FY’23 Update Steady Trajectory for a High Quality Foods business. 17
Slide 19: FY'23 Summary
FY’23 Summary • Largely navigated Commodity Inflation without derailing Volume Trajectory on Foods – moderate Growth of 9%. Basis monthly trends now overcoming the base impact of Covid19 on RTC Volume. • Staples Margins stable despite impact of the Ukraine War. Significant cost in terms of Volume -