Foods & Inns Limited

rs,

ent of Corporate Services, Exchange Plaza, 5" Floor, BSE Limited, Plot No. C/1, G Block, P.J. Towers, Dalal Street, Bandra Kurla Complex, Bandra (East), Mumbai — 400 001 Mumbai — 400 051 Scrip Code: 50

50 %

er/ year ended March 31, 2023, as recommended by the Audit Committee. b. Recommended a Dividend of 50 % (Rupees 0.50 only) per equity share of Re. 1/- for the Financial Year ended March 31, 2023. The Com

25%

e. 1/- for the Financial Year ended March 31, 2023. The Company has maintained a normal dividend of 25% and one time special dividend of 25% is recommended on the occasion of 51 operating year of the com

72 %

, Ballard Estate, Mumbai 400038 12 May 2023 Foods & inns Limited (Investor Note ~ Q4 & FY’23) _} 72 % YoY in Q4 FY’23 at 328 crs v/s 191 crs 4. 59 % YoY in FY’23 at 977 crs v/s 616 crs A A CE} 397%

rs 4

023 Foods & inns Limited (Investor Note ~ Q4 & FY’23) _} 72 % YoY in Q4 FY’23 at 328 crs v/s 191 crs 4. 59 % YoY in FY’23 at 977 crs v/s 616 crs A A CE} 397% YoY in Q4 FY’23 at 14.8 crs v/s 2.97 crs

59 %

oods & inns Limited (Investor Note ~ Q4 & FY’23) _} 72 % YoY in Q4 FY’23 at 328 crs v/s 191 crs 4. 59 % YoY in FY’23 at 977 crs v/s 616 crs A A CE} 397% YoY in Q4 FY’23 at 14.8 crs v/s 2.97 crs 195% Y

397%

72 % YoY in Q4 FY’23 at 328 crs v/s 191 crs 4. 59 % YoY in FY’23 at 977 crs v/s 616 crs A A CE} 397% YoY in Q4 FY’23 at 14.8 crs v/s 2.97 crs 195% YoY in FY’23 at 47.2 crs v/s 16.01crs nN Pulp Sales

rs 195

s 4. 59 % YoY in FY’23 at 977 crs v/s 616 crs A A CE} 397% YoY in Q4 FY’23 at 14.8 crs v/s 2.97 crs 195% YoY in FY’23 at 47.2 crs v/s 16.01crs nN Pulp Sales Tonnage4_ # 13% YoY in Q4 FY’23 at 28,568 P

13%

’23 at 14.8 crs v/s 2.97 crs 195% YoY in FY’23 at 47.2 crs v/s 16.01crs nN Pulp Sales Tonnage4_ # 13% YoY in Q4 FY’23 at 28,568 Pulp sales Tonnage“ > 27.8% YoY in FY’23 at 91,639 Foods & Inns Perfor

27.8%

2 crs v/s 16.01crs nN Pulp Sales Tonnage4_ # 13% YoY in Q4 FY’23 at 28,568 Pulp sales Tonnage“ > 27.8% YoY in FY’23 at 91,639 Foods & Inns Performance: FY’23 A} Foods & Inns: 4 & FY'24 Breakup Deta

58%

rformance: FY’23 A} Foods & Inns: 4 & FY'24 Breakup Details Sales Tonnage {tn MT) 29,639 25,983 58% 21,209 | 1,03,467 78,379 32oe 46,220 -Exports 6771 5,525 25726 24572 20,250 -Domestic 22868 = 20,45

99.99%

Y’20 number shown in the table above is the revenue of Kusum spices since Foods & Inns entered as a 99.99% partner i.e. Oct’19. Business Commentary: © We have submitted our first claim under the Productio

“There is already a mismatch in supply demand of mango pulp which is expected to widen going forward resulting in tailwinds for the mango pulp processing sector.”

“We will be able to meet the incremental demand with our brownfield capacity that commenced on the 23 of March 2023.”

“This got down our export volumes in FY’23 which we expect to bounce back going forward with the current year procurements being pesticide compliant for export.”

Adjustments for

3

Notes

2

A CASH FLOW FROM OPERATING ACTIVITIES

2

Business Commentary

1

KRAs being targeted by the company

1

Disclaimer

1

Adjustments for

1

Business Commentary

© We have submitted our first claim under the Production Linked Incentive (PL!) Scheme of the govt. for Financial Year 2022 and are awaiting the sanction and disbursal of the same. a. Fruit & Vegetable Puips: The capacity expansion drive by large beverage brands in the last couple of years along with the entry of new brands has resulted in significant increase in fruit pulp demand. There is already a mismatch in supply demand of mango pulp which is expected to widen going forward resulting in tailwinds for the mango pulp processing sector. This will entice the industry to explore varieties of mangoes which were not earlier processed from the Northern & Eastern parts of India. Tomato pulp is witnessing a substantial increase in demand in India as there was crop failure in tomato growing areas in Europe and a lot of business is shifting away from China. Such incremental demand in other pulp categories is aiding our overall growth momentum apart from the demand for mango- based pulps. b.

KRAs being targeted by the company

The company is working towards improving its ROCE & EBITDA on a sustainable basis by: a) increasing the share of value added and branded products across its food offerings. b) Increasing its operating leverage by producing allied products during non-peak season c) Converting its waste into Value additive products d) Focussing on the Asset Light model of expansion e) Concentrating on Higher EBITDA margin business The Board has recommended a Dividend of 50% (Rupees 0.50 only) per equity shares of Re. 1/- for the Financial Year ended March 31, 2023. The Company has maintained the previous year dividend of 25% and onetime special dividend of 25% is recommended on the occasion of 51st operating year of the company. For more details please visit: www.foodsandinns.com / www.linkedin.com/company/foodsandinns

Disclaimer

This document may contain some statements on the company’s business or financials which may be construed as forward looking. The actual results may be materially different from these forward- looking statements. G. M. KAPADIA & CO. (REGISTERED) CHARTERED ACCOUNTANTS. 1007, RAHEJA CHAMBERS, 213, NARIMAN POINT, MUMBAI 400 021, INDIA PHONE : (91-22) 6611 6611 PAX: : (92-22) 6611 6600 Independent Auditor’s Report on Audit of Annual Standalone Financial Results and Review of Quarterly Standalone Financial Results of Foods and Inns Limited pursuant to the Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulation, 2015 To The Board of Directors Foods and Inns Limited Mumbai Opinion and Conclusion We have (a) audited the Standalone Financial Results for the year ended March 31, 2023 and (b) reviewed the Standalone Financial Results for the quarter ended March 31, 2023 (refer “Other Matters” section below), which were subject to lim

Notes

1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on May 12, 2023, 2. These results have been prepared in accordance with the indian Accounting Standards (Ind AS) prescribed under section 133 of the Companies Act, 2013 and other recognised accounting practice and policies to the extent applicable. 3 Recommended a Dividend of 50 % (Rupees 0.50 only) per equity shares of Re. 1/- for the Financial Year ended March 31, 2023. The Company has maintained a normal dividend of 25% and one time special dividend of 25% Is recommended on the occasion of 51st operating year of the company 4 Asthe Company's business activity falls within a single business segment in terms of Ind AS 108 on "Operating Segments" , the financials statement are reflective of information required by Ind AS 108. 5 During the last quarter of the financial year 2021-2022, the Company has granted 14,66,760 stock options under Employee Stock Option Plan 202

Adjustments for

Depreciation/ Amortisation 1,394.32 1,323.68 Finance Costs 2,727.43 1,889.09 Unrealised Loss on Foreign Currency Fluctuation (Net) 26.24 5.83 Share Based Payments to Employees 377.98 Impairment of financial assets 532.98 Impairment of Receivable / Advances 94.03 Dividend Income {0.10) Interest Received on Deposits and Others (127.77) Mark to Market Loss/(Gain) on Financial Assets / Liabilities 297.15 Balance / Provision Write Back (Net } (1.23) Provision for Gratuity 52.16 Provision for Sales Return 6.29 Provision for Bonus 82.04 Provision for Leave Encashment 77.12 Loss / (Profit) on Disposal of Property, Plant and Equipment 22.47 Net (Gain)/Loss on fair valuation of Mutual Fund (1.88) Share of profit from partnership firm (37.73) Loss on Sale of License 24.17 (Profit)/Loss on Sale of Investments (0.42) Gain on sale of TOR (532.32) Operating Profit Before Working Capital Changes 11,439.38 5,906.69

Adjustments for

Increase in Trade Receivables (5,709.42) (1,286.90) Increase in Inventories (12,044.35) (7,333.62) Increase in Financial Assets (16.98) (209.56) (Decrease) / Increase in Trade payables (950.85) 6,598.78 Increase in Other Financial Liabilities 539.76 Decrease in Other Liabilities and Provisions (692.01) Decrease / (Increase) In Other Assets 332.10 Cash Generated From Operations 7,102.37) Income Tax paid 1,278.82 Net Cash flow (used in) / from Operating Activities (A) (8,381.19) CASH FLOW FROM INVESTING ACTIVITIES Interest Received 99.32 Dividend Received 0.10 Acquisition of Tangible and Intangible assets (6,428.70) Proceed from disposal of Property, Plant and Equipment 7.50 Sale of Investment 2.30 Purchase of Investments (1,016.03) Proceeds from Capital Subsidy 211.16 Procees from sate of TDR 532.32 (Introduction)/Drawings from Partnership Firm : (200.45) Amount received on Inter Corporate Deposit - Proceeds from Fixed Deposits 437.07 Invested in Fixed Deposits / Margin Money (588.10) N