Awl Agri Business Ltd · NSE:AWL
Awl Agri Business — Adani Wilmar — Investor Presentation (November 2023)
66 slides from Awl Agri Business's investor presentation, Nov 9, 2023
Slide 1: Exchange filing cover letter
adani wilmar Ref No: AWL/SECT/2023-2024/68 November 9, 2023 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 543458 Scrip Code: AWL Dear Sir, Madam, Sub: Investor P
Slide 2: Investor Presentation November 2023
ad1ani1 1 wilmar edtble otls and foods For a healthy growing nation Investor Presentation November 2023 ----------------------- -------------------- ------- ------- ------- --- ---- ---- ------ --- --- -- -- --- --- --- --- --- ------ --------------------------------------------------- Investor Pres
Slide 3: Safe Harbour Statement
Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar
Slide 4: Company Overview
Company Overview refined wheat flour a da nr wilrnar Investor Presentation – Nov 2023
Slide 5: Company Snapshot
Company Snapshot One of the largest Food FMCG company in India fortune ~ 1.!!!IM .. altfe· edible oils and foods Refined Sunflower Oil • KING'S - - - S0YAt\E AN OI L REfl NEDPAU-tOLEIN Key Highlights Volume Revenue Avsar HUI.I.E'I' Branded Sales - ia - ~5.48 Million Metric Tonnes ~INR 58,185 Crores
Slide 6: AWL’s Business Segments
AWL’s Business Segments Edible Oil & Foods business B2B – Non-Food Edible Oil Food & FMCG Industry Essentials Products: Products: Major Products: Sunflower Soyabean Mustard Atta, Suji, Rawa & Maida Soap Noodles Glycerine Stearic Acid Distilled Fatty Acid Ricebran Cottonseed Groundnut Castor Oil Deoi
Slide 7: Business Mix
Business Mix FY23 Q2 FY24 Value Value Volume Volume 10% 18% 74% 58% 24% 16% - Edible Oil - Food & FMCG Industry Essentials
Slide 8: Why staple food category is attractive for AWL?
Why staple food category is attractive for AWL? High Growth Large Category + Potential + Strong Capabilities Integrated business model Center of the plate Highly unorganized from Sourcing to Sales Branded Staples growing Risk Management Huge TAM faster in agri-commodities India is the largest export
Slide 9: Dominant leadership in Edible Oils
Dominant leadership in Edible Oils Putting our leadership in Edible Oils into perspective Leading in most of the markets Leadership across oils Dominant Leader MAT Sept 2023 #1 #1 Soyabean adani 19.6% wilmar #2 Palm Oil 49% 14.2% #1 Mustard Oil 6.3% 6.2% 4.6% #3 Sunflower Oil ◼ Market share ~1.5x of
Slide 10: Successful Brand Extension of Fortune
Successful Brand Extension of Fortune Over 2 decades of trust and quality Fortune: A household name in India ~c, ,, A .-· ~ ... I @ :I :(D 7. :c .," ~A ·~ Q. St o' Q. 'ili :::, 0 0 ‘Edible Oil’ brand ‘Packaged Foods’ brand ;'I ne· tun-· "1 (.f1 tu~-· ‘Fortune’ brand size is INR 20,000+ Crores
Slide 11: Large Opportunity in Foods Products
Large Opportunity in Foods Products Opportunity to replicate the Edible Oil playbook in other staple food categories AWL’s Share (as % of total volume consumed in India) AWL’s Competencies across oil & foods TAM ~$24bn, Branded: ~85% ✓ Edible Oil ~15% Fortune Brand Equity ✓ Distribution & Retail Rea
Slide 12: Gaining Market Share in Foods business
Gaining Market Share in Foods business ‘Fortune’ brand has gained consumer acceptance in Food categories Wheat Flour Rice 5.0% 5.2% 7.9% 4.0% 5.7% 5.1% Sept 21 Sept 22 Sept 23 Sept 21 Sept 22 Sept 23 Additionally, Kohinoor had a MS% of 1.8% in MAT Sept 2023 Source: Nielsen, MAT September of respecti
Slide 13: Depth in each of our Product Categories
Depth in each of our Product Categories Wide range of Products produced from each agri-commodity Wheat Products Whole Wheat Wheat Flour Refined Wheat Flour Suji (Semolina) Rawa (Semolina) Fortune Fortune Fortune Fortune Chakki Fresh Atta Maida Suji Rawa Rice Basmati Rice Non - Basmati Rice Biryani K
Slide 14: Building Health & convenience focused food product portfolio
Building Health & convenience focused food product portfolio Increasing focus on value added products Health-focused Edible Oils Blended edible Oils Rice Bran Oil Fortune Xpert Fortune Xpert Fortune Xpert Fortune Total Balance Oil Pro Immunity Oil Pro Sugar Conscious Oil Rice Bran Health Health & Co
Slide 15: Forward-integration of our oleo-chemical business
Forward-integration of our oleo-chemical business Soap Multi-purpose Cleaner For Retail consumers For HoReCa clients For Surface and Utensils Cleaning
Slide 16: Customers
Customers cu toor dal 15+ quality a da nr tests wilrnar fOftunefoods.com
Slide 17: Seizing opportunity in all key Customer Segments in oil & foods
Seizing opportunity in all key Customer Segments in oil & foods 75%+ of sales is from branded products in FY’23* Emerging Opportunity Households HoReCa Institutional Exports Branded, Branded Branded Non-branded Private Label, Non-branded Key benefits of presence in multiple segments: ➢ Significantly
Slide 18: Brands
Brands poho (thick) fOftunefoods.com Net Weight 500 9 ad an r wilrnar
Slide 19: Presence across the price spectrum
Presence across the price spectrum Super Premium n rt® Premium edible oils and foods - w ilm;u KING'S- --- S OYABEAN OIL Popular <ID REnNEO PALMOLEIN First Choice Wht'al Flour (Alla) Avsar CHAR MINAR. A healthy mix of premium and popular brands
Slide 20: Portfolio of scaled up brands
Portfolio of scaled up brands Strong brands built on basis of trust and quality over last 2 decades Value Brands Segment INR 20,000 Cr + rtuneedible oils and foods Edible Oil & fats + Food & FMCG INR 4,000 Cr + KING'S" Edible Oil & fats --- S OYABEAN O IL * ~INR 1,000 Cr + Edible Oil + Food & FMCG E
Slide 21: Marketing
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Slide 22: Celebrity-led advertising on mass media
Celebrity-led advertising on mass media Soyabean Oil Campaign Soyabean Oil Campaign Sunflower Oil Campaign Fortune Atta Campaign King’s Mustard Oil Campaign
Slide 23: Frequent campaigns on social media – focus on region, occasion specific
Frequent campaigns on social media – focus on region, occasion specific Marketing & Branding
Slide 24: Engaging consumers on social media through many Influencers
Engaging consumers on social media through many Influencers
Slide 25: Branding Activities by sponsorships of relevant events
Branding Activities by sponsorships of relevant events was a key sponsor on Season 7 of is sponsor of Masterchef India Women’s Premier League
Slide 26: Product campaigns
Product campaigns Khichdi Unlock More Benefit · With the c owpa ty Ka Swaad Aur ! Goodness of 3 Oils Salsa Ka Peppy Flavour Ab karo Fortu e SuperFood I< ichdi K Me>( can Salsa Aur Pav Bhaji e Saa th Savour Rich in natural Rich in PUFA Good for e,_...--_,--__:; antioxidants Heart Health f romthe~of f
Slide 27: Product campaigns
Product campaigns r adani wilmar For a healthy growing nation pulses chakki fresh atta Soft roti ka vaada orte leane chakki fresh atta notum,tost• notlKol 0/0fflO notUfol fibt• 100% Veg.
Slide 28: Product campaigns
Product campaigns Makes u you, bi,yani Khichdi special eve,y time! • biryani special basmati rice fo,tunefoods.com Made from carefully selected basmati grains, Fortune Biryani Special's non-sticky and long grain rice makes your biryani delicious.
Slide 29: Investing in the premium Kohinoor brand
Investing in the premium Kohinoor brand
Slide 30: Sales & Distribution
adani wilmar Sales & Distribution
Slide 31: Expanding town coverage and retail outlets
Expanding town coverage and retail outlets Direct Reach Coverage: Rural Towns Rural Saliency > 6.5 Lac+ Outlets 26,500+ rural towns ~30% (Volumes) Direct Reach Rural Town Coverage 2.2x 8.2x 2x 4.2x x x FY20 FY21 FY22 FY23 Q1'24 Q2'24 FY20 FY21 FY22 FY23 Q1 FY24 Q2 FY24 Focus to continue increasing t
Slide 32: Enhancing GTM capabilities to capture demand
Enhancing GTM capabilities to capture demand Everyday great execution Rural Activation & Coverage Expansion • Improving daily visit calls • Rural town expansion • Improving productivity of calls • Improved quality of Town Coverage in Rural • Increase DSM effective coverage • Improved penetration in
Slide 33: Supply Chain & Production Planning
Supply Chain & Production Planning
Slide 34: Efficient supply chain to lower cost and capture demand
Efficient supply chain to lower cost and capture demand Manufacturing network designed for Least Cost Optimization logistics efficiency • Port-based refineries for imported edible oil Dispatch planning to optimize on various parameters like • 55%+ of dispatches directly sent to customers raw-materia
Slide 35: Proximity to markets: A depot at every 250 KM
Proximity to markets: A depot at every 250 KM ~2 Million Sq. Ft. 90 Depots (Depot Storage Space)
Slide 36: Extensive use of data & analytics for supply chain efficiency
Extensive use of data & analytics for supply chain efficiency Manufacturing & Logistics Planner SnOP Warehouse Management AWL’s SCM System Warehousing Landscape Sourcing Clicksense Logistics • Optimal dispatch plan • Plant orders Integrated Logistics • Depot orders • Plant stock Management System •
Slide 37: Developed reliable systems to tackle supply chain complexities
Developed reliable systems to tackle supply chain complexities Forecasting Accuracy - Pan India Basis 120% 99% 96% 99% 96% 98% 99% 96% 100% 93% 92% 93% 91% 89% 80% 73% 60% 40% 20% 0% 2022 2023
Slide 38: Supply Chain – Recognition for reducing carbon emission
Supply Chain – Recognition for reducing carbon emission • h 1l1 . I 1 11 1 c 1 cl a1 1e l 2 . • ll "1 l I I• 1• . e at I.
Slide 39: Manufacturing
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Slide 40: Large & Integrated manufacturing facilities spread across the country
Large & Integrated manufacturing facilities spread across the country Processing & logistics efficiency, along with quality controls Own Units 23 Units 2 4 2 2 2 2 2 2 2 3 Third Party Units 2 2 2 2 38 Units 2 • Third-party units are primarily on exclusive basis for quality controls 2 2 • Company is
Slide 41: Integrated business model for cost efficiency
Integrated business model for cost efficiency Focus on building integrated plants and adding new units in existing locations Mundra Plant Vidisha Plant End-to-end integrated plant Integrated plant for soya ◼Crushing units and refineries ◼Integrated to produce Vanaspati, margarine, oleo ◼Covers entir
Slide 42: Bangladesh Business
Bangladesh Business (100% Subsidiary of AWL)
Slide 43: Bangladesh Business: Brief Snapshot
Bangladesh Business: Brief Snapshot H1’24 Sales Revenue H1’24 Sales Volume H1 Branded Sales % H1 Share of Foods – H1’24 INR 1,133 Crores 0.12 MMT 77% ~20% Product Basket Brands Soyabean Oil Mustard Oil Rice Bran Oil Sunflower Oil Palm Oil Rice Wheat Flour Refined Flour Deoiled Cake Business Mix Reve
Slide 44: Brand Campaigns in Bangladesh
Brand Campaigns in Bangladesh wilmar I BE adanr L adanr wilmar I BE L <IISII~ ., ~l<IIC~~Col 0 ' . , ~ICCW1 l<I ISi I ~<t ~ ~ "1ft<UC1111. )J.1IC'(I ~'1IC11c-kr ~♦~lat ~ ada • BB L w1in!! KING'S ~ C9f'Ml'6C~~ et~J Sunflower Oil ~~~wtDM Profession ~ <JI Occasion ~ "KING'S ~~ ~ul~-1-~~ etl14' ~cf -o15
Slide 45: Key Metrics
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Slide 46: P&L Performance Trends
P&L Performance Trends Sales Volume Revenue in Million MT INR in Crores 18% 9% 58,185 5.48 54,155 4.80 4.33 4.48 4.17 3.79 37,090 3.29 3.05 2.95 29,657 28,797 25,195 23,309 26,472 17,887 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 H1 FY24 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 H1 FY24 EBITDA PAT INR in
Slide 47: Other Metrics (1/2)
Other Metrics (1/2) Total Debt to Equity Fixed Asset Turn 3.3x 2.8x 2.9x 11.6x 11.8x 2.6x 11.0x 2.4x 9.2x 9.8x 2.2x 8.2x 8.8x 7.3x 1.3x 1.2x 1.1x FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 H1 FY24 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 Inventory Days Receivable Days 60 16 58 15 15 15 55 55 54 54 14 52
Slide 48: Other Metrics (2/2)
Other Metrics (2/2) Operating Cashflow Capex INR in Crores INR in Crores Capex is predominantly towards capacity expansion 1,652 1,693 1,198 907 908 926 631 679 781 536 663 462 468 296 199 25 -51 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 H1 FY24 EBITDA per ton E
Slide 49: Segment-wise Profitability
Segment-wise Profitability INR in Crores FY22 FY23 H1 FY23 H1 FY24 Segment EBITDA: Edible Oil 1,614 1,393 479 203 Food & FMCG 4 98 37 102 Industry Essentials 423 389 269 106 Unallocable (146) (8) (21) (5) Total 1,894 1,873 764 406 (-) Finance Cost 525 729 294 348 (-) Depreciation 285 319 158 168 PBT
Slide 50: Key Takeaways
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Slide 51: Adani Wilmar Limited as of Today
Adani Wilmar Limited as of Today One of the youngest and largest Food FMCG company in India No. #1 Edible Oil brand Over 2 decades of trust INR 58,185 Crores Food & FMCG player offering kitchen Consolidated Operating Revenue in No. #2 wheat flour brand essentials across India FY23 No. #3 Basmati bra
Slide 52: Leadership Position in our Key Products
Leadership Position in our Key Products Edible Oil Food & FMCG Industry Essentials #1 Player in Stearic Acid, Glycerine & #1 Edible oil brand in India #2 in Wheat Flour (atta) Soap Noodles #1 Soyabean oil, Mustard & Ricebran #3 in Basmati Rice #1 Castor exporter from India oil #2 in Palm oil #2 in S
Slide 53: AWL’s advantage
AWL’s advantage Proven Track record Fast-paced growth at scale (leadership position or amongst Top-3 in multiple Large addressable market categories) Potential for margin improvement Large distribution network Leverage existing setup to scale up new categories Support of 2 strong Few competitors Str
Slide 54: ESG
ESG Investor Presentation – Nov 2023
Slide 55: Fortune SuPoshan: A Mission Against Malnutrition & Anemia
Fortune SuPoshan: A Mission Against Malnutrition & Anemia Fortune SuPoshan touches life of three Target Groups 0-5 yrs age children Adolescent Girls Women in Reproductive Age Fortune SuPoshan touches four core areas Health Education Women Sustainable Empowerment Livelihood Our commitment towards a “
Slide 56: Cumulative Coverage till March 2023
Cumulative Coverage till March 2023 Sr Particulars Coverage No 1 Total sites 30 2 Total Households 3,82,655 3 Total population 19,10,530 4 Total under five children 1,45,392 5 Total adolescent girls 1,28,334 6 Total women in reproductive age 3,18,647 Sr No Site Details Number 1 Exit sites (by Mar 23
Slide 57: Current Footprint (April 2022 – March 2023)
Current Footprint (April 2022 – March 2023) 14 13 20 129 1200 Sit es States Districts Slums Villages 550 1,08,132 3,06,409 Sanginis children Women & girls Alwar Varanasi Touched more The prevalence Neemuch than 3 lakh of Wasting and The SuPoshan Medadraj Vidisha Haldia 2 beneficiaries in SAM have fo
Slide 58: Progress (April 2022 – March 2023)
Progress (April 2022 – March 2023) Achievement Sr Particulars No FY 2022- 23 1 Total under five children screened 1,00,000+ Family Counselling 87662 Total complicated SAM children 2 referred to NRC 1204 Community Events Focus Group Discussion 3578 94999 Total children shifted from SAM to 3 MAM 12245
Slide 59: Poshan Shivir
Poshan Shivir Poshan Shivir Beetroot paratha with sprouted moong & chana
Slide 60: Earnings Presentation – Q4FY23
59 Earnings Presentation – Q4FY23
Slide 61: Environment, Social & Governance
Environment, Social & Governance Green Energy Water Conservation - Successful solar power implementation at 7 plants - Zero Liquid Discharge out of 23 own units. installed at 9 major plants (2900 KL per day) - Plan to continue such installation across all plants over the years - ZLD ensures recovery
Slide 62: Annexure: Detailed Financials
Annexure: Detailed Financials Investor Presentation – Nov 2023
Slide 63: Consolidated Results: H1 FY24
Consolidated Results: H1 FY24 INR in Crores H1'24 H1'23 YoY % FY23 FY22 FY21 YoY % Volume (in LMT) 2.95 2.51 18% 5.48 4.80 4.48 14% Revenue 25,195 28,874 -13% 58,185 54,155 37,090 7% COGS 22,795 26,034 -12% 52,183 48,771 32,490 7% Gross Profit 2,400 2,840 -15% 6,002 5,383 4,601 11% Emp expense 205 1
Slide 64: Standalone Results: H1 FY24
Standalone Results: H1 FY24 INR in Crores H1'24 H1'23 YoY % FY23 FY22 FY21 YoY % Volume (in MMT) 2.8 2.4 18% 5.23 4.61 4.46 13% Revenue 24,099 27,427 -12% 55,262 52,302 37,090 6% COGS 21,803 24,745 -12% 49,543 47,091 32,490 5% Gross Profit 2,296 2,682 -14% 5,720 5,211 4,601 10% Emp expense 182 167 9
Slide 65: ~ rtune
adani Investor Presentation – Nov 2023 wilmar ~ rtune ed!lle oils and foods For a healthy growing nation
Slide 66: Legal Disclaimer
Legal Disclaimer The information contained in this presentation is provided by Adani Wilmar Limited (together with its subsidiaries, the “Company” or “AWL”) to you solely for your reference and for Legal Disclaimer information purposes only. This presentation is highly confidential and is being give