Sundrop Brands Limited Shs Dematerialised · NSE:SUNDROP
Sundrop Brands Limited Shs Dematerialised — Agro Tech Foods — Q1 FY2022 Earnings Presentation
21 slides from Sundrop Brands Limited Shs Dematerialised's earnings presentation, Jul 23, 2021
Slide 1: Regulation 30 disclosure cover letter
Agro Tech Foods Limited 23 rd July 2021 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 /
Slide 2: ATFL Business Update Q1, FY'22 Results
ATFL Business Update Q1, FY’22 Results July 23rd, 2021
Slide 3: Company Strategic Vision
Company Strategic Vision The Best Performing Most Respected Foods Company in India 2
Slide 4: Quarter 1 – Key Performance Highlights
Quarter 1 – Key Performance Highlights Strong Foods Growth drives Momentum • Strong Growth of 31% in Foods drives the business to Rs. 85 crore. • Clear impact of second wave – higher in home consumption of RTC offsets lower out of home consumption of RTE Snacks & Cereals. • Foods GM up from Rs. 20 c
Slide 5: Performance Highlights by Category
Performance Highlights by Category 1. Ready to Cook Snacks 2. Ready to Eat Snacks 3. Spreads (Rs. 10,000 crore) (Rs. 35,000 crore) (Rs. 2300 crore) 4. Breakfast Cereals 5. Chocolate Confectionery 6. Edible Oils (Rs. 2900 crore) (Rs.15,000 crore) (Rs. 194,000 crore) 4 * Category Sizes in Brackets
Slide 6: Ready to Cook Snacks
Ready to Cook Snacks Ready To Cook Q1 YTD FY’22 Volume +36% +36% Value +39% +39% • Stronger than expected Growth in Ready to Cook Popcorn driven by elevated in home consumption (2nd Wave). • Pricing on Premium Range increased to offset higher commodity prices – Palm Oil, Kernels (visible in Value vs
Slide 7: Ready to Eat Snacks
Ready to Eat Snacks Ready to Eat Q1 YTD FY’22 Volume +1% +1% Value +9% +9% • Second wave and consequent lockdowns have a clear negative impact on the business with lower than expected Growth. • Value Growth reflects stronger performance of Popcorn with higher Net Sales realization and changes in Go
Slide 8: Spreads & Dips
Spreads & Dips Spreads & Dips Q1 YTD FY’22 Volume +12% +12% Value +15% +15% • Growth in Peanut Butter less than expected -softness post discontinuation of promotion. • Lockdowns a likely factor but also some share loss is possible with significant competitive activity between Rs. 100 and Rs 200 pack
Slide 9: Breakfast Cereals
Breakfast Cereals Cereals Q1 YTD FY’22 Volume +82% +82% Value +60% +60% • Some impact of lockdowns due to Covid19 visible – growth figures are off a small base. • Value lags Volume due to introduction of Rs. 5 Shells and O’s & X’s. • Opportunity of low plant volumes leveraged to refine portfolio in
Slide 10: Chocolate
Chocolate Chocolates Q1 YTD FY’22 Volume +105% +105% Value +149% +149% • Roll out of revised Product Price Architecture underway. Trade acceptance of lower weight Rs. 10 offering (23.5 gm vs 28.6 gm). • Early signs positive for Rs. 5 offering (9.5 gm). • Revised architecture of Rs.5/Rs.10 ensures th
Slide 11: Edible Oils
Edible Oils Premium Oils Q1 FY’22 Volume -12% -12% Value +20% +20% Mass Oils Q1 FY’22 Volume -71% -71% Value -50% -50% • Premium Oils Volume performance to be viewed in context of extremely elevated demand in Q1 of FY’21 (+16% in a declining trend). • Total Oils absolute GM in Q1 of Rs. 20 crore a s
Slide 12: Competitive Update
Competitive Update
Slide 13: Snacks: Competition Spends
Snacks: Competition Spends Rs. Million F-17 F-18 F-19 FY20 Q1-21 Q2-21 Q3-21 Q4-21 FY21 Apr’21 May’21 Jun’21 Q1-22 ACT II 110 74 38 45 13 32 20 30 95 3 5 10 18 Lays 148 374 252 491 28 83 79 145 335 72 107 59 238 Kurkure 196 260 396 321 0 61 111 64 237 40 38 21 98 Doritos 0 128 150 252 0 0 0 0 0 0 0
Slide 14: Spreads: Competition Spends
Spreads: Competition Spends Apr’ May’ Jun’ Rs Million F-13 F-14 F-15 F-16 F-17 F18 F-19 FY-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Q1-22 21 21 21 Kissan Jam- 254 207 304 381 357 512 704 752 218 218 110 134 679 50 55 51 156 Kissan PB 101 95 196 28 36 45 109 Sundrop PB 0 0 42 64 56 30 16 20 8 18 13 18 58 3 3
Slide 15: Breakfast Cereals: Competition Spends
Breakfast Cereals: Competition Spends Apr’ May’ Jun’ Rs Million FY-17 FY-18 FY-19 FY-20 Q1-21 Q2-20 Q3-21 Q4-21 FY-21 Q1-22 21 21 21 Kelloggs Cornflakes - 202 265 390 230 7 118 88 142 355 33 46 45 124 Total Kelloggs Chocos Fills 0 125 203 17 0 0 9 0 9 0 0 0 0 Kelloggs Chocos - 310 362 509 329 38 122
Slide 16: Chocolates: Competition Spends
Chocolates: Competition Spends Final Brand ( In Million) FY- 18 FY- 19 FY-20 Q1 Q2 Q3 Q4 FY-21 Apr’21 May’21 Jun’21 Q1-22 Cadbury 5 Star 744 482 727 102 192 385 281 960 66 50 35 150 Cadburys Celebration 138 212 277 0 79 320 0 399 Dairy Milk 2229 2166 2362 209 915 1082 771 2978 537 237 90 864 Cadbury
Slide 17: Edible Oils: Competition Spends
Edible Oils: Competition Spends Apr’ May’ Jun’ Rs Million F-12 F-13 F-14 F-15 F-16 F-17 F-18 F-19 FY-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Q1-22 21 21 21 Sundrop Heart 88 94 50 65 46 34 21 0 0 0 0 0 0 0 0 0 0 0 Saffola 121 212 356 291 338 320 588 544 527 114 145 61 81 400 47 34 34 116 Fortune 0 203 356 1
Slide 18: Noodles: Competition Spends
Noodles: Competition Spends Tracked Brands (in Million) Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Apr’21 May’21 Jun’21 Q1- 22 Chings Noodles 17 2 19 20 0 40 0 0 0 0 Wai Wai 0 0 0 1 17 19 4 2 0 6 Knorr Soupy Noodles 0 0 140 0 0 140 0 0 0 0 Sunfeast Yippee noodles 81 168 85 336 57 647 107 37 41 185 Sunfeast
Slide 19: Pasta: Competition Spends
Pasta: Competition Spends Tracked Brands (in Million) Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Apr’21 May’21 Jun’21 Q1- 22 Bambino Pasta 0 0 0 0 0 1 0 0 0 0 Sunfeast Yippee pasta 0 0 90 1 1 93 0 0 0 0 Keya Italiano Pasta 2 0 0 0 0 0 0 0 0 0 Maggi Pazzta 0 0 0 24 26 50 1 0 0 1 Maggi Pazzta Cheese Macaroni
Slide 20: Soups: Competition Spends
Soups: Competition Spends Tracked Brands (in Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Apr’21 May’21 Jun’21 Q1-22 Million) Chings Instant Soups 3 0 37 29 1 66 0 Eastern Instant Rasam 1 1 8 0 0 9 0 Knorr Chicken Delite Soup 8 19 23 42 23 107 0 8 8 Knorr Chinese Manchurian 6 0 51 0 0 51 0 33 33 Knorr Sweet
Slide 21: Summary & Way Forward
Summary & Way Forward • Strong start to FY’22 with c 30% growth in the Foods business. • Edible Oils starting to show stability in Gross Margin. • Robust Snack Foods portfolio significantly improving Go To Market capabilities and attractiveness of business to High Quality Distributors. • Address Mar