Vidhi Specialty Food Ingredients Limited has informed the Exchange about Investor Presentation
Date: January 20, 2025
To,
The Manager, Department of Corporate Services (DCS-Listing) BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 Scrip Code: 531717
The Manager, Listing Compliance National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai – 400 051 Symbol: VIDHIING
Dear Sir(s),
Ref.: Company Code: BSE – 531717, NSE Symbol: VIDHIING Sub: Investor Presentation on the Un-audited Financial Results for the quarter and nine months ended December 31, 2024
In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, our Company has announced its Un-audited Financial Results for the quarter and nine months ended December 31, 2024 on today i.e January 20, 2025.
Enclosed herewith is the Investor Presentation on the Un-audited Financial Results for the quarter and nine months ended December 31, 2024.
Kindly take the same on your record and display on your website.
Thanking you,
For Vidhi Specialty Food Ingredients Limited,
Bipin Madhavji Manek Chairman & Managing Director (DIN: 00416441)
Place: Mumbai Encl.: As above.
Vidhi Specialty Food Ingredients Limited Investor Presentation - January 2025
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vidhi Specialty Food Ingredients Limited [Formerly known as 'Vidhi Dyestuffs Manufacturing Limited] (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
2
Q3 & 9MFY25 Financial Performance (Consolidated)
Q3 FY25 Performance Highlights
Q3 FY25 (Y-o-Y)
Update on Capacity Expansion
Revenue Rs. 98.5 Crs
EBITDA Rs. 19.0 Crs
PAT Rs. 12.7 Crs
56.5% Y-o-Y
31.8% Y-o-Y
47.9% Y-o-Y
Phase I Dahej SEZ (350 MT)
Update On Dahej Although the manufacturing facility was opened for production in Dec 2023 so far due to a few teething issues the company has not been able to achieve optimal output from Dahej. Your company has taken several steps to mitigate the bottle necks and has acted on all of them wherein before the end of the financial year we expect Dahej facility to be running on optimal capacity
Phase II Roha MIDC (Arjun Foods*) (350 MT)
Applied for Environmental clearance
*Arjun Foods, a wholly owned subsidiary of Vidhi Specialty Food Ingredients Ltd.
4
Q3 & 9MFY25 Consolidated Key Highlights
Revenue from Operations (Rs. in Crs)
EBIDTA (Rs. in Crs)
Profit after Tax (Rs. in Crs)
272.8
222.8
48.3
41.0
31.5
26.0
98.5
63.0
19.0
14.4
12.7
8.6
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Declared third interim dividend of Rs. 1.50/- per share i.e. @ 150% per equity share having face value of Rs. 1/- each for the Financial Year 2024-25
5
Q3 & 9MFY25 Consolidated Profit & Loss Statement
Particulars (Rs in Crs)
Q3 FY25
Q3 FY24
Y-o-Y
Q2 FY24
Revenue from Operations
Total Expenses
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
98.5
57.2
41.3
63.0
35.1
27.9
42.0%
44.2%
3.3
19.1
19.0
2.6
10.9
14.4
19.3%
22.9%
0.1
1.5
17.5
0.6
17.0
4.3
12.7
12.9%
2.55
0.0
1.9
12.5
0.8
11.73
3.1
8.6
13.7%
1.73
56.5%
48.5%
31.8%
40.4%
44.9%
47.9%
91.3
57.6
33.7
36.9%
2.9
15.6
15.2
16.6%
0.8
2.0
14.0
0.4
13.6
3.2
10.3
11.3%
2.07
Q-o-Q
7.9%
22.9%
24.9%
25.6%
25.4%
23.3%
9M FY25
9M FY24
Y-o-Y
272.8
170.0
102.8
222.8
143.0
79.8
37.7%
35.8%
8.7
45.8
48.3
6.9
31.9
41.0
17.7%
18.4%
1.0
5.5
43.8
1.4
42.4
10.9
31.5
11.6%
6.31
0.9
4.3
37.6
2.8
34.88
8.9
26.0
11.7%
5.21
22.4%
28.9%
17.6%
16.4%
21.6%
21.2%
6
Transformation Growth & Path Ahead: 2.0
Dahej SEZ Plant (Phase-I)- Commercial Production Commenced
Moved one step closer to our goal of achieving total capacity of 1000 TPM from existing 325 TPM
NEW CAPACITY ADDITION
GROWTH LEVERS
Added installed capacity of 350 TPM taking total to 675 TPM
Investment of INR 70 Crs – Funded through Internal accruals
Revenue to remain consistent on an absolute basis with increase in contribution from manufacturing activity
Margin profile to improve as low margin trading revenue will be substituted with high margin manufactured products
Company has successfully commenced production in the Dahej plant on December 12, 2023 post successfully commencement of trial production on August 27, 2023
Debt to Equity remains healthy at 0.20
Improved realizations due to product mix
Foray into new high margin products with usage across varied industries
Penetration into newer geographies
Addition of new customers
Improving wallet share from existing customers
Enhancement of product portfolio
Operational efficiencies & operating leverage
8
Next Leg Of Growth – Capacity Addition at Roha (Phase-II)
To address the Demand Supply Gap through capacity expansion
Metric Tons per Month
3x Planned Capacity Expansion by 2024-25
325
250
~675
~1,000
NEW CAPACITY ADDITION
o Arjun Foods, a wholly-owned subsidiary of Vidhi in Roha MIDC, 200 meters away from the current manufacturing site bring operational synergies
o 360 MT per month Capacity
for manufacturing of new high margin products in two phase i.e., 180 MT per month in each phase.
installed
to be
in
150
90
30
55
1995
2000
2005
2011
2015
2019
2023
2024-25e
o Terms of reference from MPCB have been received
o Expected timeline: 2025-26
9
Company Overview
All About Food Colours
Why Food Colours???
o Food colours are ingredients that are added to food or
beverage to enhance its appearance
o Colours when added to food products imparts very bright
and tempting effect
o This
influences consumers decisions to purchase that
product
o Research shows that 90% of buyers make a decision to purchase a product after seeing its colour and making a perception about its taste based on the colour
Appearance
Consistency
Improves the appearance of the product for consumption & enhances the visual appeal of a dish
Consistency in the product appearance to influence the consumer to buy a product through visual perception
Long Lasting
Influences Flavour
Enhance the visual appeal of a dish and introduce decorative colours to other foods
Colour of the food can influence the perceived flavor
11
Food Colour Industry
4.7%
2023
2024
₹ 1500-1700Crs
Global Food Colour Market (2021-2026) is expected to grow at a CAGR of
Incremental demand to be expected Y-o-Y basis in global food colour industry
Broadly divided into Natural Colour Artificial Colour
5%
Export
Domestic
95%
Market with Limited Competition due to High entry barriers
Huge Opportunity in the export as well as domestic market
India accounting for approximately 16% of the world production of dyestuff and dye intermediates
Source: Industry Reports
12
Huge Industry Potential with Limited Players
Industry Potential
Food Colour Industry Growth
USD Bn
+6% CAGR
5.1
3.7
FY17
FY23
Huge Growth Opportunities:
Every year incremental demand of ~Rs. 1,500 to Rs, 1,700 crores is expected to generate globally for Food colours
Source: Industry Reports
Upsurge in demand for food colors from various end-use industries, including food & beverages, bakery & confectionery, dairy products, meat & poultry, and seafood
Colour is a key component to enhance the ultimate appetizing value and consumer acceptance towards foods and beverages.
Technological advancements and growing R&D activities for improved characteristics
Synthetic food colours have been increasingly used than natural food colours by food manufacturers to attain certain properties such as low cost, improved appearance, high colour intensity, more colour stability, and uniformity.
Food colour market across the globe has been on a rise with more demand upsurge from the emerging markets and is expected to be higher than projected 6% CAGR due to higher disposable income
13
About Vidhi Specialty Food Ingredients
An Institution in Edible Colour Technology
2nd Largest food colour manufacturer in Asia
Accreditation
Capabilities
Presence
US FDA BIS
Existing Capacity of over ~7,500 MT p.a. + ~4,200 MT p.a. under expansion
Over 80 Countries and 6 continents
Diversified End User Industry
Food & Beverages
Cosmetics
Confectionaries & Bakery
Personal Care Products
Pet Foods
Pharmaceuticals
Home Care Products
14
Synthetic Food Colours
Primary Water Soluble Colours
Blends of Water Soluble Food Colours
Lake Food Colours
Primary Food Water Soluble Colours are water soluble, and impart coloring to any product when dissolved
Are in accordance with the E.C. & JECFA Regulations & Approved for human consumption by WHO
Obtained from mixing different primary colors with one another
Used where colouring is to be imparted by coating, these are basically Food Grade Pigments
Resultant colors are unique in color property and provide a different feel to products
Lake Colours are bright, consistent, and useful in industries like snack food, confectioneries, pharma, cosmetics, inks, plastic, food containers
Synthetic Water Soluble Colours
FD&C Certified Water Soluble & Lakes
Aluminum Lakes
D&C Colours
Blends
Others
Full range of 14 water soluble colours available in Microfine Powder, Fine Plating Grade Powder & Granular Forms
Full range of U.S. FDA Certified Colours in Microfine Powder, Fine Plating Grade Powder & Granular Forms & Lakes
Full range Of Aluminum Lakes used in Surface Coatings, Capsules, Dry Snacks Food Packaging Material etc.,
Range of Certified D&C Dyes & Lakes For Drug & Cosmetic Applications
We can develop and match any shade as per the customers specifications
Co-blended Lakes & Granules
15
Our Journey
1
Increased Production Capacities to 55 MT / Month
3
New Factory Commissioned enhancing total production capacity to 150 MT / Month
5
Enhanced capacities to 325 MT / Month & Completed product development of D&C Dyes, Lakes & solvent dyes
7
1994
2000
2005
2011
2015
2019
2022-23
Vidhi Dyestuffs Mfg. Ltd. incorporated with production capacity of 30 MT / Month
Increased Production Capacities to 90 MT / Month
2
4
Brownfield expansion with capacities increased to 250 MT / Month
6
Capacity expansion plans up to ~900 MT / Month with 2 Greenfield Expansions
On 27th August’23 commenced trial production at Dahej
16
Wide Product Range
Water Soluble Colours
Lakes
FD&C Certified Water Soluble Colours
FD&C Certified Lakes
Tartrazine
Allura Red
Lake Tartrazine
Lake Allura Red
FD&C Yellow 5
Lake FD&C Yellow 5
Quinoline Yellow
Patent Blue V
Lake Quinoline Yellow
Lake Indigo Carmine
Sunset Yellow
Indigo Carmine
Lake Sunset Yellow
Lake Brilliant Blue
Carmoisine
Brilliant Blue
Lake Carmoisine
Lake Chocolate Brown HT
Amaranth
Chocolate Brown HT
Lake Amaranth
Lake Green S
Ponceau 4R
Green S
Lake Ponceau 4R
Lake Black PN
FD&C Red 3
FD&C Yellow 6
FD&C Red 40
FD&C Blue 2
Lake FD&C Yellow 6
Lake FD&C Red 40
Lake FD&C Blue 2
Erythrosine
Black PN
Lake Erythrosine
-
FD&C Blue 1
Lake FD&C Blue 1
17
Existing Manufacturing Facility
Manufacturing plant o Our Manufacturing facilities have been audited and found satisfactory by the U.S. FDA
o Our present and operational manufacturing facilities are spread over an area of 1,76,000 square feet, located in Dhatav Village of Raigad District in the
state of Maharashtra
o Plot No 59/B :
3 Dedicated Sections To Manufacture Azo Colours & Lakes : (AZO I, AZO II & AZO III)
• • Dedicated Erythrosine Manufacturing Plant • Dedicated Brilliant Blue Manufacturing
o Plant Plot No 68 :
•
2 Dedicated Sections To Manufacture Azo Colours & Lakes : (AZO IV, AZO V)
R&D Facility
The company has set up a research and development (R&D) unit near its manufacturing facility in Roha, which enables the company to test food colours and meet the quality specification set by the US Food and Drug Administration (FDA) and other regulatory bodies around the world.
18
Diversified End User Industry
Food
Confectionaries & Bakery
Pet Foods
Pharmaceuticals
Beverages
Personal Care Products
Cosmetics
Home Care Products
19
Marquee Customers across Industries
01
Cosmetics
Customer & Industry Diversity
Confectionaries & Bakery
02
03
Personal / Home Care
Food & Beverage
04
05
Pharmaceuticals
Pet food, Cattle & Poultry feed
06
Britannia
Unilever
Procter & Gamble
Nestle
Kraft
Mars
Pfizer
Coca-Cola
Sanofi
Pepsi
Kerry
ITC
Cipla
Cadila
Mondelez
Parle G
Rasna
Mala’s
and many more MNC’s across the globe
20
Global Footprint
Continent Wise Sales
Country Wise Sales
2% 17% 0%
16%
3%
0%
18%
Q3FY25
63%
9MFY25
25%
55%
AFRICA
AUSTRALASIA
MIDDLE EAST
AMERCIAS
EUROPE
Diversified Geographical Presence
14%
1%
1%
1%
1%
2% 2%
2%
2% 3%
34%
1%
Q3FY25
5%
8%
21%
USA
ITALY
MEXICO
PHILIPPINES
China
SPAIN
VIETNAM
BOLIVIA
VENEZUELA
MALAYSIA
GERMANY
ARGENTINA
BRAZIL
EGYPT
Rest of the World
o Exporting to more than 80 countries across 5 continents meeting all the specific regulatory requirements for each country and continent
o Continuous addition of new customers and increasing wallet share in existing customers enhancing the growth for the years to come
o Top 10 countries contribute to ~81% and ~ 78 % of the revenues in Q3 & 9M FY25 respectively
o Top 10 customers contribute ~69% and 64% of the revenues in Q3 & 9M FY25 respectively
21
Stringent Regulatory Approvals
Synthetic Water Soluble Colours
European Commission & JECFA Approved
Aluminum Lakes
European Commission & JECFA Approved
FD&C Colours
U. S. FDA Approved
FD&C Lakes
U. S. FDA Approved
1
2
3
4
D&C Colours
U. S. FDA Approved
Blends
European Commission, JECFA & U. S. FDA Approved
Co-Blended Lakes &Co- Blended Granules
European Commission, JECFA & U. S. FDA Approved
5
6
7
22
Certifications & Regulatory Approvals
o 1st Company in the field of manufacturing synthetic food colours in
India to be awarded with ISO 9002 in the year of 2000
o ISO 9001:2015, ISO 22000:2005 certified company
o The Management Of Food Hazard Analysis (HACCP) system for the
manufacture of synthetic food colours & lakes
o Vidhi is a FSSC 22000 accredited company and hence GFSI
compliant and also have GMP
o Company’s all products are Kosher & Halal approved
23
Technology and R&D strength
Stringent checks and processes established at each stage from Raw Material testing to In-Process to Manufacturing processes to delivery of Finished Goods to ensure desired products
Qualified Technical Team
End User Approach
Stringent Testing
Collaborative working with regulatory bodies
Fully equipped & functional laboratory accredited by The Bureau of Indian Standards forms the core of Quality Control Department
Dedicated R & D facility with a team of PHD’s & qualified chemists, constantly working on process engineering of existing products and on development of new products to enhance the product portfolio and offerings
Source: Industry Reports
Transcendental combination of highly experienced and dynamic force of qualified chemists dedicated towards partnering the efforts of our discerning customers in developing superior colour solutions for their products
Technical team works closely with the end user, right from the stage of envisioning the product to commercial production and after sales support.
Stringent procedures and fail-safe methods of testing are adopted, right from the stage of sampling of all raw materials, in process checks at various stages of the reactions and thorough testing of all finished products
Sharing of information & working hand in hand with the regulatory bodies like US FDA & EC for new product developments & standards to be implemented across the globe for food colour industry
24
Growth Drivers of the Company
Pro industry initiative taken by the Government and the Reserve Bank of India.
Superior quality and global outreach
Management experience and expertise in food colour business.
Growth Drivers
Access to international selling and sourcing markets
Established production facilities.
Large domestic market with increased income and expenditure on consumer products
25
High Entry Barriers
Technical Know-how
Highly Regulated Markets
Quality Control Process
Long Customer Approval
o Technical know-how with years of
o Operate in a highly regulated
experience for continuous development of new products & colours
markets with multiple regulatory approvals required
o Undertaken various approvals backed by an appropriate lab testing facility and among the very few USFDA approved manufacturers of food grade colours in India
o Follow stringent quality control norms on batch wise before delivery to the customer
o With strong controls and
processes in place, able to deliver quality products to customers
o High cost of change in vendor due to stringent norms & approval cycle enhances customer stickiness
o Customer approval takes as long as ~10 years. Average single product approval cycle for customers is between 4-5 years for the first set of orders
o End users have internal
specifications which are often more stringent than the regulations to which they adhere to
26
Key Differentiators
Products
Large Product Variants
Diversified Usages
Diversified customers
Long standing relationships with Large MNC as a customers
Customer & Geography Expansion
Renowned name in Food Colour Industry
Regulatory
Highly Regulated Market
Consistency is a Key
Long Customer Approval Cycle
R&D & Product Development
Financial Strength
Un-leveraged Balance sheet
Revenue Visibility
Better Profitability
27
Our Strength
TECHNOLOGY
R & D
QUALITY
Fully equipped & functional laboratory accredited by The Bureau of Indian Standards forms the core of Quality Control Department
Dedicated R & D facility with a team of PHD’s & qualified chemists, constantly working on process engineering of existing products and on development of new products to enhance the product portfolio and offerings
Stringent checks and processes established at each stage from Raw Material testing to In-Process to Manufacturing processes to delivery of Finished Goods to ensure desired products
28
Experienced Board of Directors
Mr. Bipin M. Manek
Chairman & Managing Director
Mr. Mihir B. Manek
Joint Managing Director
Mrs. Pravina B. Manek
Non-Executive Director
Mrs. Vidhi H. Parekh
Wholetime Director
Mr. Anil P. Udeshi
Independent Director
Mrs. Pranali P. Govekar
Independent Director
Mr. Ashit K. Doshi
Independent Director
Mrs. Jyoti S. Modi
Independent Director
29
Strong Management Team
Mr. Bipin M. Manek
Mr. Mihir B. Manek
Mr. Mitesh Manek
Chairman & Managing Director
Joint Managing Director
Chief Financial Officer
Rich & Diversified experience of over 35 years in the field food colour manufacturing. Acknowledged as a thought leader in transforming the Company from a small food color the manufacturing company Asia’s 2nd color manufacturing Company
largest
food
to
Associated with the company for more than 15 years with expertise in procurement of raw materials and distribution. Played a significant role in leading multiple initiatives to accelerate production and sales
imported
in
Postgraduate with 17 years of & experience administration. Also, looks after the sales & distribution to various geographies
finance
30
Annexure
31
Historical Financials Performance
Consolidated Operating Performance
Revenue from Operations (Rs. in Crs)
EBIDTA (Rs. in Crs)
+4.4%
537.1
404.0
303.4
266.4
+2.8%
84.6
52.5
55.8
57.0
FY21
FY22
FY23
FY24
FY21
FY22
FY23
FY24
Profit before Tax (Rs. in Crs)
Profit after Tax (Rs. in Crs)
-0.5%
79.0
-0.2%
58.6
49.6
49.8
48.8
36.6
37.7
36.4
FY21
FY22
FY23
FY24
FY21
FY22
FY23
FY24
33
Consolidated Historical Profit & Loss Statement
Particulars (Rs in Crs)
Revenue from Operations
Total Expenses
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
Mar-24
303.4
190.8
112.6
37.1%
10.4
45.2
57.0
18.8%
1.2
6.2
52.0
3.2
48.8
12.4
36.4
12.0%
7.31
Mar-23
404.0
292.9
111.1
27.5%
9.1
46.2
55.7
13.8%
1.2
3.5
53.4
3.6
49.8
12.1
37.7
9.3%
7.55
Mar-22
537.1
398.1
139.0
25.9%
9.5
44.9
84.6
15.8%
1.4
3.1
82.9
3.9
79.0
20.4
58.6
10.9%
11.75
Mar-21
266.4
172.9
93.6
35.1%
7.8
33.3
52.5
19.7%
1.6
2.9
51.2
1.6
49.6
13.0
36.6
13.7%
7.33
34
Consolidated Historical Balance Sheet
Particulars (Rs in Crs)
Mar-24 Mar-23 Mar-22 Mar-21
Particulars (Rs in Crs)
Mar-24 Mar-23 Mar-22 Mar-21
Equity Share Capital
5.0
5.0
5.0
5.0
Property, Plant and Equipment
120.7
Other Equity
Total Equity
Financial Liabilities
(i) Borrowings
(ii) Lease liabilities
Provisions
Deferred Tax Liabilities (Net)
Total Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Trade payables
(iii) Other Financial Liabilities
Provisions
Current Tax Liabilities (Net)
Other Current Liabilities
275.2
245.7
211.9
156.3
Capital Work-in-progress
280.2
250.7
216.9
161.3
Right to Use
0.4
0.6
0.6
3.7
5.3
19.4
16.0
1.0
0.2
0.1
2.4
4.7
0.7
0.6
2.1
8.1
45.0
22.8
1.9
0.2
0.4
2.0
16.0
0.0
0.6
2.6
19.2
73.5
36.8
1.7
0.2
0
3.4
1.9
0.0
0.6
1.8
4.3
28.2
27.3
1.7
0.1
1.5
1.2
Other Intangible Assets
Other Non Current Assets
Inventories
Financial Assets
(i) Trade Receivable
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances
(iv) Loans
(v) Other Current Financial Assets
Current Tax assets (Net)
Other Current Assets
44.0
68.5
3.8
7.5
0.1
4.0
5.3
7.4
0.1
56.3
60.5
35.7
37.2
3.2
7.6
0.1
83.9
72.7
26.8
8.4
3.2
7.7
0.3
46.4
39.9
88.3
11.5
0.2
1.2
11.7
0.0
17.7
100.8
150.1
94.6
7.3
0.3
0.9
13.8
0.0
23.6
1.0
0.5
0.9
11.3
0.4
31.0
4.0
6.6
0.8
9.2
0.0
24.0
Total Non-Current Assets
137.5
123.9
Total Current Liabilities
39.1
72.3
115.6
60.0
Total Current Assets
187.0
207.2
267.9
179.2
Total Equities & Liabilities
324.5
331.1
351.7
225.6
Total Assets
324.5
331.1
351.7
225.6
35
Consolidated Historical Cash Flow Statement
Cash Flow Statement
Mar-24
Mar-23
Mar-22
Mar-21
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash & Cash Equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
48.8
8.90
57.7
16.9
74.6
-11.1
63.5
(19.2)
(40.0)
4.3
7.3
11.5
49.8
7.0
56.82
50.9
107.7
(11.8)
95.9
(42.4)
(47.5)
6.1
1.2
7.3
78.9
6.7
85.7
(85.6)
0.0
(21.5)
(21.5)
(40.3)
52.6
(9.1)
10.3
1.2
49.6
4.8
54.3
(30.6)
23.7
(12.5)
11.2
(2.8)
(7.9)
0.5
9.8
10.3
36
Sustainable Return Ratios
Cash flow from Operations
Borrowings and Cash & Cash Equivalents
ROCE (%)
Rs. In Crs
11.2
95.9
63.5
Rs. In Crs
89.5
26.7%
27.0%
49.7
17.8%
17.3%
30.0
10.6
1.5
7.3
19.8
11.5
-21.5
Mar-21
Mar-22
Mar-23
Mar-24
Mar-21
Mar-22
Mar-23
Ma-24
Mar-21
Mar-22
Mar-23
Mar-24
Cash & Cash Equivalents
Borrowings
ROE (%)
Net Debt to Equity (x)
27.0%
22.7%
0.4
15.0%
13.0%
0.1
0.2
0.0
*Annualised basis
Mar-21
Mar-22
Mar-23
Mar-24
Mar-21
Mar-22
Mar-23
Mar-24
37
Vidhi Specialty Food Ingredients Limited
CIN: L24110MH1994PLC076156
Mr. Mitesh Manek - CFO mitesh.manek@vidhifoodcolors.com
www.vidhifoodcolors.com
Investor Relations Advisors :
Mr. Parth Patel +91 98197 85972 parth.patel@linkintime.co.in
parth.patel@linkintime.co.in
Mr. Irfan Raeen +91 97737 78669 irfan.raeen@linkintime.co.in
irfan.raeen@linkintime.co.in