Agro Tech Foods Limited has informed the Exchange about Investor Presentation to be shared at the Analyst/Investor Call on 21st July 2022
21st July, 2022
The Manager, BSE Limited, Floor 25, Pheroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001. Ph. No. 022- 22721233 / 22721234 Fax No. 022-22723121 / 22721072
The Manager Listing Department 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 1311 NSE Symbol ATFL, Series EQ-Rolling Settlement
Dear Sirs,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Further to our earlier letter dated 12th July, 2022 regarding hosting of an analyst call on the unaudited financial results for Q1 ended June 30, 2022 on Thursday, 21st July, 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 and Compliance Officer Encl. a/a.
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
July 21st, 2022
Company Strategic Vision
The Best Performing Most Respected Foods Company in India
2
Quarter 1 – Key Performance Highlights Steady Foods Growth – High Input Cost Inflation
• Steady Foods Growth in Q1 of 11% - Non RTC business grows by 41%,
RTC impacted by Second Wave in Base.
• Q1 Foods GM lower by Rs. 3 crore reflecting:
• Input Cost Inflation (-) Rs. 4 crore. • Softness in RTC Popcorn (-) Rs. 2 crore. • Pricing & Volume Growth in non RTC Popcorn + Rs. 3 crore.
• Edible Oils GM of Rs. 15 cr.+ within range of desired Rs. 70 cr. (+/-).
Consumer resistance to higher prices visible across Category. However, continuing to navigate with focus on Margin.
• A&P spends broadly in line with PY. • Q1 SG&A higher than PY by Rs. 2 crores - largely due to Travel &
Secondary Freight.
• PBT & PAT are Rs. 24 lacs & Rs. 22 lacs respectively.
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, FY’23
YTD, FY’23
-5% -4%
-5% -4%
• RTC Popcorn lower than PY by 6% - base includes Covid19
2nd Wave in May-June 2021.
• Non RTC Popcorn business led by Pasta helps deliver 200
bps of growth.
• Estimated share of Instant Pasta market of between 3%
and 5% taken by ATFL.
• Pizza & Pasta sauce market estimated at 2 X of Instant
Pasta market. Yum Pasta sauce being rolled out as a sauce in Q2, FY’23.
• Lab Scale Plant Meat extruder installed. Trials
commenced in July 2022.
5
Ready to Eat Snacks
RTE
Volume Value
Q1 FY’23
YTD FY’23
+65% +79%
+65% +79%
• Growth driven by impact of Covid19 in base. Additionally,
continued strengthening of Popcorn Business.
• Clear improvement in GM% driven by Price Increases, Grammage
Reduction and Packaging Footprint changes.
• Potato Chips model under development. • Manufacture of Panned product commenced in July 2022. Roll out
in Q2, FY’23 to support Margin Improvement.
• Work underway on Protein Snacks to improve Margin. • Continued focus on the right combination of FTL Product Mix with
Distance from Plant.
6
Spreads & Dips
Spreads
Volume Value
Q1 FY’23
YTD FY’23
+28% +10%
+28% +10%
• Return to strong growth with pricing realignment in
FY’22.
• New High Protein Variant development underway.
Launch pushed back to Q2, FY’23.
• Single serve cups initiated for all Spreads (Rs. 10) - Drive Trial
– Launch by Q3, FY’23.
• Chocolate Spreads generate Net Sales of c Rs. 1 crore. Price Increases underway with support of Peanut Based extension. • Launch of Salsa scheduled in Q2, FY’23. Help to increase ATFL
weight in the Dips Category including Hummus.
7
Breakfast Cereals
Cereals
Volume
Value
Q1 FY’23
YTD FY’23
+54%
+58%
+54%
+58%
• Continued strong Growth helped by impact of Covid19 in base – significant share of consumption as a Cereal Snack as opposed to Breakfast Cereal.
• Inroads into the mainline Breakfast Cereals Category
underway as per Plan.
• Roll out of Hazelnut Variant in Center Filled Underway.
Also scheduled for Q2 is the Cookie and Crème Variant.
• National launch of Value Added Oats scheduled as per
plan for Q2.
• On track for a profitable business in FY’23.
8
Chocolates
Chocolates
Volume
Value
Q1 FY’23
YTD FY’23
+218%
+252%
+218%
+252%
• Continued strong growth in the Business. • Significant improvement in Margin as we gain
scale.
• Installation of 2nd Line delayed by approx. 6 weeks.
Likely commencement in August 2022.
• Continue seeking aggressive growth to achieve
breakeven in Category during FY’23. • Key Revenue Growth Driver in FY’23.
9
Staples
Premium Staples
Q1 FY’23
YTD FY’23
Volume Value
Mass Staples
Volume Value
-12% -8%
-12% -8%
Q1 FY’23
YTD FY’23
-74% -71%
-74% -71%
• Premium Staples reflects softness in offtake with sharply increasing consumer
price. Focus on protecting Margin.
• Roll out of Oats to commence in Q2 to make Premium Staples more broad based
and therefore reduce risk from a single commodity business while providing procurement scale to the Foods business.
• Mass Staples reflects largely exit from Crystal in FY’22.
10
Competitive Update
Snacks: Competition Spends
Rs. Million
F-17
F-18
F-19
FY20
FY21 Q1-22 Q2-22 Q3-22 Q4-22 FY22 Apr-22 May-22 Jun-22 Q1-23
ACT II
Lays
Kurkure
Doritos
Cheetos
Bingo
Parle
Crax
Yellow D
Mexitos
Cornitos
Too Yumm
Balaji
Pipo
Total Tracked Brands
110
148
196
0
0
683
0
58
74
374
260
128
0
965
0
55
248
145
65
10
0
0
0
1
146
0
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
95
335
237
0
0
18
238
98
0
0
1252
242
20
138
61
0
0
161
93
1
2
20
14
0
0
14
2
0
31
202
65
116
0
261
0
63
31
0
0
99
30
0
11
127
70
55
0
20
175
101
94
0
261
188
0
58
30
0
0
93
21
0
0
71
31
0
0
33
0
0
80
742
333
265
0
952
2
212
106
0
0
238
53
0
0
197
4.4
87
0
0
0
89
0
23
10
0
0
108
0
0
0
0
0
74
0
25
4
0
0
11
0
0
11
49
78
0.1
0
99
0
13
14
0
0
0
0
0
15
333
78
0
0
261
0
60
27
0
0
119
0
0
1517
2147
2549
2888
2394
648
897
725
713
2983
426
205
263
894
Lays remains the dominant spender. Act II spends broadly in line with PY.
12
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
Kissan Jam-
254 207 304 381 357
512
704
752
Kissan PB
Sundrop PB
0
0
42
64
56
30
16
20
Apr- 22 38
32
May- 22 42
43
Jun- 22 52
31
679
196
58
54
196
156
109
12
1
2
19
47
24
6
0
3
154
129
18
0
3
4
66
33
64
10
0
26
7
138
125
6
0
2
1
82
25
39
18
0
17
11
124
146
13
0
2
0
21
31
13
3
0
33
11
572
508
49
1
9
4
188
0
0
0
1
0
136
44
140
38
0
79
29
4
0
0
0
0
3
0
1
0
0
5
5
0
0
0
0
Q1-23
133
106
10
0
1
1
0
7
0
0
0
0
51
100
0
0
0
0
0
9
0
0
0
0
Veeba PB
Amul Peanut Spread
Pintola PB
Saffola Honey
Patanjali Honey
Dabur Honey
Lion Honey
Apis Honey Hershey’s Spreads Nutralite
Tracked Brands Total
0
44
25
0
0
0
69
18
0
0
0
102 317
182
95
7
62
69
18
0
0
203 134
180
206
131
364
15
2
0
9
16
54
7
65
8
25
159
166
20
8
59
29
7
60
323 294 433 767 943 1135 1220
996
1703
379
514
463
397
1753
119
98
142
359
Unilever investment of Rs. 11 crore in Q1 in line with PY. ATFL spends broadly in line with PY.
13
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
Apr- 22
May- 22
Jun- 22
Q1-23
Kellogg Cornflakes
202
265
390
230
355
124
124
108
171
526
58
Kellogg Chocos Fills
0
125
203
17
9
0
Kellogg Chocos
310
362
509
329
344
111
118
239
147
177
Kellogg Muesli
Kellogg Granola
Nestle Koko Krunch
Saffola Oats - Total
Quaker Oats- Total
0
0
0
322
102
0
0
283
164
1
193
268
110
Cadbury’s Bournvita Fills
0
0
0
Tata Soulfull
14
60
89
121
448
424
269
184
20
0
17
52
22
0
145
130
5
0
0
81
40
17
0
83
14
0
44
20
88
34
16
0
103
16
0
26
29
74
62
19
0
142
135
0
62
49
354
187
74
0
474
296
5
8
19
25
11
0
38
5
0
131
28
41
10
20
25
10
0
48
0
0
0
38
136
2
21
36
14
0
39
7
0
63
20
60
86
35
0
125
12
0
91
Tracked Brands Total
975
1,317
1,979
1,530 1,724
589
361
410
693
2,096
192
153
219
564
Kellogg continues support for Choco-Fills. Nestle discontinues support. Tata Soulful continues investments.
14
Chocolates: Competition Spends
Q3- 22 Q4-22
FY-22
May-22 Jun-22 Q1-23
Final Brand ( In Mn)
FY- 18 744 Cadburys Celebration 138
Cadbury 5 Star
FY- 19
FY- 20
Q1 Q2 Q3 Q4
FY-21
0
79
320
84 0
482 727 102 192 385 281 212 277
0 2229 2166 2362 209 915 1082 771 407 477 46 217 126 120 598 285 389 26 142 145 126 416 231 598 55 321 105 226 837 1193 0 484 358 250 0 0 47 85 0 0 34 144 139 7 56 23 235 0 134 94 3 51 0 259 201 33 6 0 23 9 6 146 368 20 47 42 604 626 87 178 131 151 712 841 137 294 207 305
217 0 187 414 597
0 0 61 42
25 6 97
26 82
4 3
0
960 399 2978 509 438 470 608 132 179 109 314 54 65 21 206 547 943
Q1- Q2- 22 22 377 150 276 56 370 864 1168 1268 109 41 146 131 115 143 145 129 133 117 306 24 44 26 14 41 27 5 3 7 62 22 103 53 150 175
77 27 166 143 95 231 72 93 137
8 87
80
0
23
69
0
8
35
10
53
3
36 15
17
7 90
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
Apr- 22 52 7 631 27 43 33 82
2
75
24
52
475 29 48 35 18
11
2 126
5 6
256 11 1083 147 158 154 323 0 22 50 156 81 0 8 49 149 115 0 0 44 0 2822
1058 437 4384 443 547 562 747 104 143 111 423 265 127 250 205 398 577 3 7 187 15 11042
Total tracked brands 6520 6898 9261 697 2530 3483 2905 9615 1835 2523 3857
810 Mondelez remains dominant spender in the Category. ITC also spending consistently.
984
49 0 195 27 46 34 1
0 19 0 0 12 20 0 55
3 15
153 7 1300 83 137 102 100
1 21 0 11 12 20 78 181
8 44
477
2271
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 FY-21 Q1-22 Q2-22 Q3-22 Q4-22 FY-22
Apr- 22
May- 22
Jun- 22
Q1- 23
Sundrop Heart
88
94
50
65
46
34
21
0
0
0
0
0
0
0
0
121 212 356 291 338 320
588
544
527
400
116
86
68
106
375
0
203 356 148 319 828
666
543
495
510
166
145
102
126
540
156 137 1214
647
626
799
150
27
41
30
103 354
966
170
26
20
40
49
228
31
31
52
70
29
27
41
175
183
578
22
24
27
9
27
13
91
109
133
0
41
68
66
0
12
23
0
21
32
28
0
8
0
0
0
62
21
121
27
121
0
6
0
26
84
35
26
209 509 762 504 961 1700 3576 1936 1694 2024
546
398
417
464
1825
210
125
80
415
722 915 815 1280 1876 2153 1672 1652 2096 2597
537
637
990
733
2897
172
218
211
601
Category Total 931 1424 1577 1784 2837 3853 5248 3588 3790 4621 1083 1035
1407
1197
4722
383
343
291 1016
Premium Oils share of spending dips further in Q1.
16
Saffola
Fortune
Emami Ltd.
Oleev
Patanjali
Gemini
Tracked Brands Total
Others
Noodles: Competition Spends
Tracked Brands (in Mn)
Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 FY-21 Q1- 22 Q2-22 Q3-22 Q4-22 FY-22 Apr-22 May-22 Jun-22 Q1-23
0.2
6
6.7
8.1
565
69.4
2.1
70
9
2
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
6
0
185
155
120
3
135
36
99
35
0
0
0
62
243
47
143
37
112
3
8
4
0
6
0
0
0
34
3
5
2
42
394
105
1.4
6
0
0
104
0
52
0
0.2
1
0.3
0
40
275
5
146
601
4
86
3
19
7
1
42
125
54
5
2
8
5
8
20
56
195
9
4
64
219
36
64
41
31
1
3
Total
382
284
528
749
504 2064
648
496
269
1807
203
151
207
561
Nestle & ITC remain dominant spenders.
17
Pasta: Competition Spends
Tracked Brands (in Mn)
Q4- 20
Q1- 21
Q2- 21
Q3- 21
Q4- 21
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
FY- 21
1
93
0
0
1
0
0
1
0
24
26
50
47
30
77
2
0
0
14
24
24
Q1- 22
Q2- 22
Q3-22 Q4-22 FY-22 Apr-22
May- 22
Jun-22 Q1-23
0
0
0
1
2
0
0
3
1
4
5
0.6
0.2
1
4
13
1
1
5
13
1
2
1
4
0.6
0.6
0.4
0.2
0.3
0.9
18
1
27
0.4
0.2
0.9
1.5
11
90
75
83 259
Almost Nil spend in the Quarter.
18
Q4- 20
Q1- 21
Q2- 21
Q3- 21
Q4- 21
Q1- 22
Q2- 22
Q3-22 Q4-22 FY-22 Apr-22
May- 22
Jun-22 Q1-23
31
5
0
0
0
36
0
22
83
84
198
29
20
21
28
50
77
71
Soups: Competition Spends
Tracked Brands (in Mn)
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
8
23
51
0
0
FY- 21
66
9
37
29
0
1
0
42
23
107
0
0
0
0
0
0
51
0
0
0
0
8
0
0
0
0
0
0
Knorr Hot & Sour Veg Soup 192
65
231 244 191 731 100 143
258
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
84
29
0
0
0
0
0
586
29
0
0
Total
228
85
350 338 218 989 108 171
373
197
849
29
41
78
148
Knorr remains dominant spender.
19
Q1 Summary
• Steady growth in Foods driven by non RTC Growth of 41%.
• Oils GM at Rs. 15 crore + for the Quarter below PY running rate
though still within striking range.
• Power of diversified portfolio visible with OOH items performing
well as the economy normalizes.
•
In good shape to deliver a solid performance in FY’23 despite commodity headwinds.
20