Agro Tech Foods Limited has informed the Exchange about Investor Presentation April, 2022
29th April, 2022
The Manager
The Manager, BSE Limited, Listing Department Floor 25, Pheroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Ph. No. 022- 22721233 / 22721234 Fax No. 022-22723121 / 22721072
National Stock Exchange of India Limited Exchange Plaza, Bandra-Kurla Complex, Bandra (E), Mumbai – 400 051. Ph.No. 022- 26598100 / 26598101 Fax No. 022-26598237 / 26598238
Codes:
BSE Scrip code 500215, Co. code NSE Symbol ATFL, Series EQ-Rolling Settlement
1311
Dear Sirs,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Further to our earlier letter dated 18th April, 2022 regarding hosting of an analyst call on the financial results for Q4 and year ended March 31, 2022 on Friday, 29th April, 2022, we are enclosing a copy of the presentation proposed to be shared to analysts and investors at the said Call. The presentation would also be placed on the website of the Company.
You are requested to take this on record.
Thanking you,
Yours faithfully, For Agro Tech Foods Limited
JYOTI CHAWLA COMPANY SECRETARY
Encl………
ATFL an affiliate of
Corp. Office: 15th Floor, Tower ‘C’, Bldg # 10, Phase II, DLF Cyber City, Gurgaon-122002. Tel: 91-124-4593700, Fax: 91-124-4593799 Regd. Office: 31, Sarojini Devi Road, Secunderabad – 500 003, India. Tel: 91-40-66650240, Fax: 91-40-27800947 Web: www.atfoods.com
CIN: L15142TG1986PLC006957
Q4, FY’22 April 29th , 2022
Company Strategic Vision
The Best Performing Most Respected Foods Company in India
2
Quarter 4 – Key Performance Highlights Strong Foods Growth – High Input Cost Inflation
• Steady Foods Growth in Q4 of 12% with YTD Growth of 15%. • Moderation in Q4 input cost inflation to 11% due to base effect. Marginal impact of Ukraine war due to inventory levels & cover.
• YTD Edible Oils GM of Rs. 75 crore performs well vs PY (Rs. 72 crore). • YTD Foods GM lower by Rs. 12.8 crore reflecting:
• Input Cost Inflation (-) Rs. 30.6 crore. • Price Increases + Rs. 6.9 crore. • Volume Growth + Rs. 10.9 crore.
• Franchising of Crystal w.e.f. November 1st as planned. Consequently
overall Company GM% decline vs PY limited to 160 bps.
• YTD SG&A largely flat to PY. Higher CSR provisioning, Travel and Royalty offset by one time gains in Insurance & Office Lease. • PBT/PAT are +83%/+151% vs PY. YTD figures are -20%/-19%.
3
Performance Highlights by Category
1. Ready to Cook (Rs. 18,000 crore)
2. Ready to Eat -Western (Rs. 28,500 crore)
3. Spreads (Rs. 3400 crore)
4. Breakfast Cereals (Rs. 3500 crore)
5. Chocolate Confectionery (Rs.13,600 crore)
6. Edible Oils (Rs. 169,600 crore)
* Category Sizes in Brackets
4
Ready to Cook Snacks
RTC
Volume
Value
Q1
Q2
Q3
Q4
FY’22
+36% +11%
+5%
+11% +14%
+39% +12%
+8%
+17% +17%
• Strong 14% Volume growth in FY’22 driven by RTC Popcorn. Pricing reflected in higher Value Growth. • Sweet Corn Volumes stabilize post 40% price increase. • Roll out of Mini Meal Kits underway with some disruption
by 3rd Wave of Covid19.
• Going forward, continue to focus on Volume Growth to
offset impact of commodity prices on GM. However, seek Pricing on premium offerings.
• Roll out of differentiated Pasta & Noodles offering
supported by retail demos. Very positive acceptance.
5
Ready to Eat Snacks
RTE
Volume
Value
Q1
Q2
Q3
Q4
FY’22
+1% +18% +18% +6% +12%
+9% +15% +32% +21% +20%
• Significant rebound with reduced threat of Covid19. Growth led
by RTE Popcorn. Together with broad scale pricing this has driven Value.
• GM attrition in Category largely addressed through Price
Increases, Grammage Reduction and Packaging Footprint changes.
• Potato Chips model under development. • Further margin improvement work underway through work on
Value Added offerings with Extruded Panned and Protein Snacks.
• New higher margin offerings will help to deliver the right combination of FTL Product Mix with Distance from Plant.
6
Spreads & Dips
Spreads
Volume
Value
Q1
Q2
Q3
Q4
FY’22
+12% +6%
-3%
-6%
+1%
+15% +7%
-7%
-18%
-2%
• Volume softness addressed through new pricing which is starting to flow through. Focus on Volume Growth.
• New High Protein Variant development underway.
Launch in Q2, FY’23.
• Chocolate Spreads end the year with a 24% Volume Growth
with steady build up of Category.
• Work underway to stabilize Supply Chain of Hummus offering. • Launch of Salsa scheduled for Q2, FY’23.
7
Breakfast Cereals
Cereals
Volume
Value
Q1
Q2
Q3
Q4
FY’22
+82% +55% +21% +7% +31%
+60% +36% +9%
+5% +20%
• Continued strong Growth with improved market
working. Increased focus on larger Packs - expanding from “Cereal Snacks” into “Breakfast Cereals”.
• Steady QOQ growth with strong exit rates.
• National launch of Oats scheduled for Q2. However only Value Added Oats
to be included in Foods Revenues:
• Record sales of Value Added Oats (12% GST) in Breakfast Cereals. • Record sales of Plain Oats (5% GST) in Premium Staples.
• On track for a profitable business in FY’23.
8
Chocolates
Chocolates
Q1
Q2
Q3
Q4
FY’22
Volume
Value
+105% +534% +153% +163% +190%
+149% +768% +208% +254% +275%
• Strong end to FY’22 with 4 X Revenues of FY’21. • Excellent acceptance of Peanut Duo – key to
further margin improvement.
• Removal of tray completed in Rs. 10 Coconut Duo bar
to improve Margin. Peanut Duo underway.
• Further Margin improvement through doubling of Capacity in Sem 1, FY’23 and then again in Sem 2, FY’23.
• Key Growth Driver in FY’23.
9
Edible Oils
Premium Oils
Q1
Q2
Volume
Value
-12% +4%
+20% +36%
Q3
+11%
+35%
Q4
+1%
FY’22
+1%
+17%
+27%
Mass Oils
Volume
Value
Q1
Q2
Q3
Q4
FY’22
-71% -51% -67% -69% -64%
-50% -26% -54% -61% -47%
• Premium Oils (Sundrop Heart & Superlite) Volumes deliver a YTD 100+ Index.
More channel consistency required.
• Going forward modify definition to “Premium Staples” (15-20% GM) to:
• Accommodate increasing need for non Oil Staples as we build the Foods business. • Better Manage Revenue Impact of pricing swings in Edible Oils.
• Mass Oils Volume reflect franchising of Crystal w.e.f. November, 2021 and overall
reduction in Mass Oils in line with strategy.
• Strong Gross Margin performance with Total Oils GM ahead of PY.
10
Competitive Update
Snacks: Competition Spends
Rs. Million
F-17
F-18
F-19 FY20 Q1-21 Q2-21 Q3-21 Q4-21 FY21 Q1-22 Q2-22 Q3-22 Jan-22 Feb-22 Mar-22 Q4-22 FY22
ACT II
Lays
Kurkure
Doritos
Cheetos
Bingo
Parle
Crax
110
148
196
0
0
74
374
260
128
0
683
965
0
58
0
55
Yellow D
248
145
65
10
0
0
0
1
146
0
Mexitos
Cornitos
Too Yumm
Balaji
Pipo Total Tracked Brands
38
252
396
150
46
815
0
106
256
0
0
470
21
45
491
321
252
34
954
0
139
139
0
0
312
201
13
28
0
0
0
32
83
61
0
0
20
79
111
0
0
30
145
64
0
0
95
335
237
0
0
18
238
98
0
0
31
202
65
116
0
11
127
70
55
0
163
260
680
149
1252
242
261
261
2
0
0
0
0
0
7
13
38
17
0
0
47
29
3
39
23
0
0
78
1
0
1
62
22
0
0
36
56
1
20
138
61
0
0
2
20
14
0
0
161
14
93
1
2
0
0
63
31
0
0
99
30
0
0
58
30
0
0
93
12
0
10
95
57
89
0
84
0
24
11
0
0
1
0
0
10
6
41
5
0
95
0
26
10
0
0
4
0
0
0
74
3
0
0
9
0
22
11
0
0
27
0
0
20
175
101
94
0
80
742
333
265
0
188
952
0
71
31
0
0
2
212
106
0
0
33
238
0
0
44
0
1517
2147
2549
2888
214
580
1033
573
2394
648
897
716
370
197
146
713
2974
Fritolay increases spends but Bingo remains the dominant brand. ACT II spends marginally lower to support overall P&L.
12
Spreads: Competition Spends
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 Q2-22 Q3-22 Jan'22 Feb'22 Mar'22 Q4-22 FY-22
Kissan Jam-
254 207 304 381 357 512 704 752
218
218
110
134
679
156
154
138
Kissan PB
101
Sundrop PB
0
0
42
64
56
30
16
20
8
18
13
Veeba PB
Amul Peanut Spread
Pintola PB
Saffola Honey Patanjali Honey
0
0
0
102 317 182
95
7
0
1
14
117
69
18
0
0
69 203 134 180 206 131
23
34
228
18
15
9
7
8
0
0
2
0
16
65
25
54 159 166
59
20
8
5
0
0
6
0
0
12
4
22
Dabur Honey 44
Lion Honey
25
0
0
Apis Honey
Hershey’s Spreads
Nutralite
Tracked Brands Total
95
18
54
79
46
80
6
2
38
196
109
129
125
58
54
196
62
364
29
7
60
12
18
1
2
19
47
24
6
0
3
0
3
4
66
33
64
10
0
26
7
6
0
2
1
82
25
39
18
0
17
11
58
74
6
0
1
0
12
9
9
3
0
14
0
45
53
21
18
6
0
0
0
9
9
4
0
0
9
5
0
0
1
0
0
14
0
0
0
10
6
124
572
146
508
13
49
0
2
0
21
31
13
3
0
33
11
1
9
4
188
136
140
38
0
79
29
323 294 433 767 943 1135 1220 996
255
277
621
552 1703 379
514
463
187
140
70
397 1753
Unilever investment of Rs. 50 crore in PB. ATFL spends marginally lower to support overall P&L.
13
Breakfast Cereals: Competition Spends
Rs Million
FY-17 FY-18 FY-19 FY-20 Q1-21 Q2-20 Q3-21 Q4-21 FY-21 Q1-22 Q2- 22 Q3-22 Jan'22 Feb'22 Mar'22 Q4-22 FY-22
118
88
142
355
124
124
108
67
59
45
171
526
Kellogg Cornflakes
202
265
390
230
Kellogg Chocos Fills
0
125
203
17
Kellogg Chocos
310
362
509
329
Kellogg Muesli
Kellogg Granola
Nestle Koko Krunch
0
0
0
118
239
147
0
0
1
193
14
60
7
0
38
30
14
52
0
122
65
30
39
9
76
43
28
24
Saffola Oats - Total
322
283
268
448
121
125
101
Quaker Oats- Total
102
164
110
269
0
98
Cadbury’s Bournvita Fills
Tata Soulfull
0
0
0
2
0
17
0
65
10
0
0
9
0
110
344
111
40
18
7
78
21
9
0
177
89
121
52
22
0
424
145
184
130
20
0
5
0
0
81
40
17
0
83
14
0
20
88
34
16
0
103
16
0
44
26
12
32
25
8
0
61
16
0
0
9
20
23
7
81
69
0
0
9
21
14
5
0
0
29
74
62
19
0
49
354
187
74
0
142
474
50
135
296
0
5
62
62
131
Tracked Brands Total
975
1,317 1,979 1,530
260
598
442
424
1,724
589
361
410
221
266
207
693
2,096
Kellogg starts advertising behind Choco-Fills. Nestle does not invest behind the Category. Tata Soulful invests Rs. 13 crore.
14
Chocolates: Competition Spends
Final Brand ( In Million) FY- 18 FY- 19 FY-20 Q1 Q2
Q3 Q4
FY-21 Q1-22 Q2-22 Q3- 22
Jan-22
Feb-22 Mar-22 Q4-22
FY-22
Cadbury 5 Star Cadburys Celebration Dairy Milk Cadburys Fuse Cadburys Gems Cadburys Perk Kinder Kinder Creamy Ferrero Rocher Amul Hersheys Kisses Hersheys Exotic dark Snickers Galaxy Nestle Milky Bar Nestle Munch Nestle Kit Kat Nestle Bar One Fabelle CandyMan Fantastik Brit Treat Stix Fitsport Bar
482 212
46 26 55 0
217 142 84 0
385 281 320
727 102 192 79 0 277
407 285 231 837 0 0 61 42
477 389 598 1193 0 0 139 235
744 138 0 2229 2166 2362 209 915 1082 771 598 126 120 416 145 126 321 105 226 484 358 250 0 47 85 0 34 144 7 56 23 0 134 94 51 3 33 6 6 9 42 47 131 151 207 305
25 0 201 6 0 23 97 20 368 626 178 87 841 137 294
259 0 146 604 712
217 0 187 414 597
26 82
4 3
960 399 2978 509 438 470 608 132 179 109 314 54 65 21 206 547 943
150
276 56
80
864 1168 146 41 143 115 133 129 117 24 44 26 14 41 5 7 22 53 150
27 3 62 103 175 3
8 87
0
0
23
69
0
0
0
0
8
2
35
10
53
5
3 290 5
17
0
36 15 0
9
377 370 1268 109 131 145 306
77 27 166 143 95 231 72 93 137
7 90
8
Total tracked brands
6520 6898 9261 697 2530 3483
9615
1835 2523
3857
90 0 369 58 56 54 119 0 4 21 51 47 0 8 19 49 0 0 0 15 0 0
968
87.1 4.1 350 50.6 47.3 49.4 42.5 0 19 12.3 52.8 34.2 0 0 15 90 86.4 0 0 5 0 0
949
78.2 6.5 364.3 38.4 54.9 50.8 0 0 162 15.9 51.7 0 0 0 15.4 10.1 28.9 0 0 24 0 0
904
256 11 1083 147 158 154 161 0 184 50 156 81 0 8 49 149 115 0 0 44 0 0
2822
1058 437 4384 443 547 562 584 104 305 111 423 265 127 250 205 398 577 3 7 187 15 8
11042
Mondelez remains dominant spender in the Category. Nestle spends dramatically lower.
15
Edible Oils: Competition Spends
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
Q2- 22
Q3- 22
Jan'22 Feb'22 Mar'22
Q4- 22
FY- 22
Sundrop Heart
Saffola
Fortune
Emami Ltd.
Oleev
Patanjali
Gemini
Tracked Brands Total
Others
Category Total
88
94
50
65
46
34
21
0
0
0
0
0
0
0
0
0
0
0
0
0
0
121 212 356 291 338 320 588 544
527
114
145
61
81
400
116
86
68
82
24
0
106
375
0
203 356 148 319 828 666
543
495
37
208
198
68
510
166
145
102
23
77
26
126
540
156 137 1214 647
626
13
371
174
241
799
150
70
175
105
49
29
183
578
27
41
30
26
103 354 966
170
20
4
0
12
13
11
40
31
29
22
0.7
12
36
49
31
27
24
46
29
55
98
228
52
41
27
9
8
5
0
6
6
0
9
91
14
27
109
2
13
133
209 509 762 504 961 1700 3576 1936 1694 168
643
512
534 2024 546
398
417
232
161
72
464 1825
722 915 815 1280 1876 2153 1672 1652 2096 362
531 1005 867 2597 537
637
990
259
176
298
733 2897
931 1424 1577 1784 2837 3853 5248 3588 3790 529 1174 1517 1401 4621 1083 1035 1407 491
336
370 1197 4722
Mass Oils continue to be the dominant spenders in the Category.
16
Noodles: Competition Spends
Tracked Brands (in Million)
Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Q1- 22 Q2-22 Q3-22
Jan-22
Feb-22 Mar-22 Q4-22
FY-22
Chings Noodles
Wai Wai
Knorr Soupy Noodles
17
0
0
2
0
0
Sunfeast Yippee noodles
81
168
Sunfeast Yippee -Masala
Saffola Oodles
A&M Twisty Noodles
Maggi Chatpata Tomato Noodles
Maggi Fusian
Maggi Masala Veg Atta
Maggi Noodles
Maggi Special Masala
Maggi veggie masala
Maggie chicken noodles
Pran Mr Noodles
1 to 3 Chatpat noodles
Goldiee Noodles
Trdp Mario Masala Noodles
0
0
4
0
11
123
135
5
4
0
0
0
0
0
0
0
0
38
46
0
7
0
13
8
19
0
140
85
0
0
5
0
0
5
141
115
12
0
3
3
20
1
0
336
0
0
4
0
0
85
0
17
0
57
144
0
5
11
0
62
282
178
6
9
4
0
0
9
14
2
0
0
40
19
140
647
144
0
13
11
0
190
648
131
43
6
17
11
0
0
0
62
243
0
6
0
0
0
0
6
0
0
185
155
120
59
3
135
36
99
35
0
38
0
3
0
0
67
0
23
0
0
1
0
0
0
8
1
1
0
0
35
0
12
0
0
0
0
0
0.2
6
105
1.4
6
0
0
104
0
52
0
0.2
1
0.3
0
565
40
275
5
146
601
4
86
3
19
7
1
42
0
1
0
0
2
0
17
0
0
1
0
0
47
143
37
112
3
8
4
34
3
5
2
42
394
Total
382
284
528
749
504 2064
648
496
80
131
59
269
1807
Lower investments by both Nestle & ITC. Marico cuts back investments in back half.
17
Pasta: Competition Spends
Tracked Brands (in Million) Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21
Q1- 22
Q2- 22
Q3-22
Jan-22 Feb-22 Mar-22 Q4-22
FY-22
Bambino Pasta
Sunfeast Yippee pasta
Keya Italiano Pasta
Maggi Pazzta
Maggi Pazzta Cheese Macaroni
Savorit Pasta
Weikfield Pasta
TOTAL
0
0
2
0
0
4
0
6
0
0
0
0
0
11
0
0
90
0
0
0
0
0
0
1
0
24
47
2
0
0
1
0
26
30
0
24
1
93
0
50
77
14
24
11
90
75
83
259
0
0
0
1
2
0
0
3
1
4
5
0.3
0.2
0.3
0.0
0.2
0.0
0.6
0.2
1
4
13
1
1
5
13
1
2
1
4
18
1
0
0
1
27
Keya invests behind Print Medium.
18
Soups: Competition Spends
Tracked Brands (in Million) Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Q1-22 Q2-22 Q3-22
Jan-22
Feb-22 Mar-22 Q4-22
FY-22
Chings Instant Soups
Eastern Instant Rasam
Knorr Chicken Delite Soup
Knorr Chinese Manchurian
Knorr Sweet Corn Veg Soup
3
1
8
6
5
Knorr Cup-A-Soup
13
0
1
19
0
0
0
37
8
23
51
0
0
29
0
42
0
0
0
1
0
66
9
23
107
0
0
0
51
0
0
0
0
8
0
0
0
31
5
0
0
0
0
0
22
83
43
42
0
0
0
0
0
0
Knorr Hot & Sour Veg Soup
192
65
231
244
191
731
100
143
258
56
Knorr Soup
B Natural Soups
Mtr Minute Rasam
0
0
0
0
0
0
0
24
2
0
2
24
0
0
0
0
0
0
0
0
0
0
0
0
0
0
18
0
0
0
0
36
0
84
198
0
0
0
84
29
0
0
0
0
0
586
29
0
0
0
0
0
28
10
0
0
Total
228
85
350
338
218
989
108
171
373
98
80
18
197
849
Knorr remains dominant spender.
19
FY’22 – Summary & Way Forward
• Continued strong growth in Foods with Volume Led Revenue
Growth of 15% over FY’21.
• Oils GM at Rs. 75 crore holds up well vs PY indicating we have been
largely successful with the price correction of FY’21.
• Exit from Mass Oils accelerated with franchising of Crystal effective November, 2021. Impact of commodity inflation on Total Company GM mitigated.
• Exiting FY’22 with strong Volume Momentum and improved Gross
Margins and Profitability in Q4 vs Prior Year.
20