Sundrop Brands Limited has informed the Exchange about Investor Presentation
13th November 2025
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 SUNDROP, Series EQ-Rolling Settlement
Dear Sir(s)/Madam,
Sub: Disclosure under Regulation 30 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015
Further to our earlier letter dated 06th November 2025, regarding hosting an Investors/Analysts Conference Call on the Unaudited Financial Results (Standalone & Consolidated) for Q2 and half year ended September 30, 2025, on Thursday, 13th November 2025, we are enclosing a copy of the presentation proposed to be shared to Investors/Analysts at the said Call. The presentation would also be placed on the website of the Company at https://www.sundropbrands.com/analyst- calls.aspx
You are requested to take this on record.
Thanking you,
Yours faithfully For Sundrop Brands Limited (formerly known as Agro Tech Foods Limited)
Jyoti Chawla Company Secretary and Compliance Officer Encl. a/a.
Sundrop Brands Limited (Formerly known as Agro Tech Foods Limited)
Registered office: 31, Sarojini Devi Road, Secunderabad- 500003, Telangana, India. Tel: 91-40-66650240
Corporate office: Tower C, 15th Floor, Building No. 10, Phase-II, DLF Cyber City, Gurgaon-122002, Haryana. Tel: 0124-4593700
Web: www.sundropbrands.com; CIN: L15142TG1986PLC006957
Sundrop Brands Limited
(Formerly known as Agro Tech Foods Limited)
Investor Presentation
13th Nov 2025
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Safe harbor
Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements.
Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, risks and uncertainties regarding the execution of our business strategy, general economic and business conditions in India, our research and development efforts, our growth and expansion plans and technological changes, increased competition for talent, changes in the value of the Rupee and other currencies, economic uncertainties and geo-political situations, changes in the Indian and international interest rates, change in laws and regulations that apply to the Indian and global food industries, increasing competition, expectations concerning our market position, future operations, margins, profitability, liquidity, capital resources and changes in the foreign exchange control regulations in India.
Neither the company, nor its directors and any of the affiliates have any obligation to update or otherwise revise any statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the underlying assumptions do not come to fruition.
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A bold new vision and mission reflecting the company’s ambition
Vision Bringing joyful food experiences to the modern consumer
Mission Creating innovative, delicious, and convenient food solutions
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Sundrop Brands is emerging as a scaled food platform, with a a significant profitable growth opportunity
Presence in high growth and high margin categories
Renewed focus on its core portfolio
Increased salience in fast-growing channels
Increased focus on improving EBITDA and PAT margins
Capital efficient approach to building scale
Organic + Inorganic route to own category leading brands
4
Sundrop Brands platform is a combination of three market leading brands
A powerhouse of owned and perpetually licensed food brands with strong recall and global affiliation
5
Q2 FY26: Strong Growth across Key Indicators*
+8% Consolidated Revenue Growth
+23% B2B Revenue Growth
+41% E-commerce Growth
+34% Advertising Investments Growth
Supported by strong Balance Sheet
INR 1,449 Cr Net Worth
INR 24 Cr
Free Cash balance as on 30th Sep’ 25
NIL
Borrowings as on 30th Sep’ 25
+250 bps Gross Margin Expansion
+29% growth Consolidated EBITDA Growth^
* Total of Sundrop Brands and Del Monte numbers on like to like basis ^ EBITDA excluding ESOP and one time costs linked to cost improvement initiatives
H1 FY26: Strong Growth across Key Indicators*
+10% Consolidated Revenue Growth
+12% B2B Revenue Growth
+42% E-commerce Growth
+44% Advertising Investments Growth
Supported by strong Balance Sheet
INR 1,449 Cr
Net Worth
INR 24 Cr
Free Cash balance as on 30th Sep’ 25
NIL
Borrowings as on 30th Sep’ 25
+190 bps Gross Margin Expansion
+30% growth Consolidated EBITDA Growth^
* Total of Sundrop Brands and Del Monte numbers on like to like basis ^ EBITDA excluding ESOP and one time costs linked to cost improvement initiatives
Business Growth vs. Last Year
Sundrop
Del Monte
Group
58%
42%
H1 FY26 Growth 11%
H1 FY26 Growth 9%
H1 FY26 Growth 10%
Q2 FY26 Growth 7%
Q2 FY26 Growth 10%
Q2 FY26 Growth 8%
FY25 Growth 5%
FY25 Growth 13%
FY25 Growth 8%
Core categories showing increase in contribution with continued investment
FY23 Core Category Contribution
Q2 FY26 Core Category Contribution
47%
53%
36%
64%
Core Categories
Others
Core Categories
Others
Core categories Sundrop Brands (formerly known as Agro Tech Foods Limited) include Ready to cook popcorn, Ready to eat Popcorn & Snacks, Peanut Butter, Breakfast Cereals Del Monte Foods: Spreads, Ketchups, Sauces, Mayonnaise and Italian Range
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Q2 FY26 - Growth driven by Core categories with strong headroom for business expansion
Popcorn
Culinary
Premium Staples
12% Value 2% Volume
15% Value 12% Volume
13% Value -6% Volume
Italian
Spreads
-3% Value
13% Volume
-11% Value -14% Volume
H1 FY26 - Growth driven by Core categories with strong headroom for business expansion
Popcorn
Culinary
Premium Staples
16% Value 6% Volume
12% Value 10% Volume
16% Value -4% Volume
Italian
Spreads
-5% Value 10% Volume
-8% Value -13% Volume
Popcorn H1 FY26
Popcorn Ready to Cook Value Growth %
Popcorn Ready to Eat Value Growth %
7%
43%
H1 FY25
H1 FY26
H1 FY25
H1 FY26
• Popcorn category grows at 16%+ with strong performance in both
Ready to Cook and Ready to Eat formats.
• Enhanced performance marketing investments on E-commerce
helped double business
• New packs launched in Q1 at R20 and R30 price to uptrade
consumers; 5% saliency on total volumes achieved in H1 FY26 • 4 New products launched in H1: 2 New flavours Butter Blast and
Cheese Blast launched in Ready to Cook format in Q2; Microwave Movie Theatre Butter and Hot & Spicy Ready to Eat launched in Q1
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Premium Staples H1 FY26
Premium Staples Value Growth %
Premium Staples Volume Growth %
16%
-4%
H1 FY25
H1 FY26
H1 FY25
H1 FY26
• Edible Oil business continues to grow driven by commodity price led
inflation
• Business stable in volume in consumer packs and volume erosion
primarily led by Bulk pack sales
• Have put thrust on growing franchise in Brand franchise by expansion of Plain Oats business in E-commerce and Sundrop Heart Oil in Andhra Pradesh
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Spreads & Dips H1 FY26
Spreads & Dips Value Growth %
Spreads & Dips Volume Growth %
-8%
-13%
H1 FY25
H1 FY26
H1 FY25
H1 FY26
• Business continues to be under pressure with loss of share in Modern
Trade led by evolution of High Protein and Chocolate variants • Launched 2 New SKUs in High Protein Range in Sep-25 targeting
premium customer - Dark Chocolate and Honey Flavour • Launched Jaggery and Chocolate Peanut Butter to counter competitive pressure for mass segment in Modern Trade
•
Increased focus on E-commerce / quick commerce channel with focused investments helping deliver strong 36% growth in H1 FY26
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Culinary H1 FY26
Culinary Value Growth %
Culinary Volume Growth %
12%
10%
H1 FY25
H1 FY26
H1 FY25
H1 FY26
• Ketchup & Sauces – Strong growth seen across both B2C and Food
Services segment.
• Partnerships with leading MT chains and marketing investments in q-
com platforms helping drive strong volume gains
• Emulsions H1 growth on the back of significant uplift in B2B and
organized retail (E-com and National Modern Trade)
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Italian H1 FY26
Italian Net Sales Growth %
Italian Volume Growth %
-5%
10%
H1 FY25
H1 FY26
H1 FY25
H1 FY26
• Pasta growth driven by enhanced marketing investments in MT
and E-commerce channel
• Olive oil volumes grew by 27% in H1. However, commodity price
decline has impacted revenue growth
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E-commerce: Enhanced investments continue to drive accelerated growth
Q2 FY26 Ecommerce Value Growth %
KW Display Banner
Category Banners
Home Page ATC
41%
Q2 FY25
Q2 FY26
E-commerce growth helped by focused investments in performance marketing and Q-commerce growth
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Overall Brand spends also significantly enhanced behind core categories to drive consumer affinity and sales
Brand Marketing Spends
Brand Marketing Spends
34%
24%
44%
36%
71%
67%
Ecom
Media
Total A&P
Ecom
Media
Total A&P
Q2 FY25
Q2 FY26
H1 FY25
H1 FY26
• Significant increase in Media spends to drive brand saliency and
preference in Core categories
• E-commerce investments behind performance marketing directly accelerating business momentum in E-commerce growing at 40%+ over last year.
Sales Force Automation being implemented in Sundrop Brands to drive Productivity
Outlet Enrollment Trend Q1 vs Q2 FY26
9%
23%
• Sales Force Automation to bring 490K coverage of Mobile platform through Bizom • Project initiated in Q1 and being ramped up Nationally • 79% of Frontline sales already started to track visit and productivity on Tech Interface • 42K outlets (9% of coverage) in Q1 and 113 K (23% of coverage) outlets in Q2 brought on tech platform with full visibility of
Productivity KPIs
Q1 FY26
Q2 FY26
Margin Improvement Programs • Onboarded external partners to guide on margin improvement in Packaging Materials (reflected in
material costs); manufacturing and logistics costs (reflected in other expenses*)
• Programs have led to sequential improvement with Gross margin improving by 190 bps in Q1 and by
250 bps in Q2.
114 bps improvement
54 bps improvement
135 bps improvement
138 bps improvement
Material Costs
Other Expenses*
Material Costs
Other Expenses*
Q2 FY25
Q2 FY26
H1 FY25
H1 FY26
* Other Expenses exclude one time expenses, primarily for Advisory services towards implementing cost improvement programs in packaging materials, manufacturing and logistics.
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95% of Group business now on 5% GST; Benefit of GST reduction passed on to the Consumers and new rates seamlessly implemented in market
Reduced MRP in alignment with Government of India’s GST Revisions
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Multiple new launches across Act II, Sundrop and Del Monte portfolios in Q2 FY26
Act II – 2 New Flavours in Ready to Cook, 1 in Ready to Eat and 1 in Microwave format
Sundrop Peanut Butter: 2 High Protein, 2 Jaggery and 1 Chocolate variant
9 SKUs in Tomato Puree Canned Fruits & Vegetables General Trade launch of Mayo and Salad dressings in new packs
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Consolidated Profit & Loss Statement – Reported
• Employee Benefit Expenses exclude INR 6.5 Cr charge to the P&L in Q2 FY26 on account of ESOPs granted to the employees.
• Other Expenses exclude one time
expenses of INR 5.1 Cr, primarily for Advisory services towards implementing cost improvement programs in packaging materials, manufacturing and logistics.
• Normalising for above expenses, the proforma EBITDA of the Group for Q2 FY26 is INR 15.5 Cr, 4% of sales
Sundrop Brands acquired 100% equity shares and voting interest of DMFPL on February 6, 2025, being acquisition date. DMFPL has contributed revenue of INR 162.3 Cr for the quarter ended September 30, 2025 and INR 163.6 Cr for quarter ended June 30, 2025 to the consolidated revenue of the company. Accordingly, the consolidated financials result for the quarter ended September 30, 2024 are not comparable.
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Q2 FY 26Q2 FY 25 % of Change Q1 FY 26Revenue from Operations383.3206.186%372.1Material Costs (RM & PM)240.1129.286%240.3Employee Expenses *38.316.8128%35.5Advertisement and promotion expenses27.79.7186%22.9Other Expenses **61.744.040%57.1EBITDA 15.56.3145%16.3EBITDA %4.0%3.1%4.4%Depreciation & Amortisation8.05.58.6Finance Cost0.30.50.4Other Income(0.6)(0.1)(0.9)Profit/(Loss) Before ESOP and one time expenses7.70.41864%8.3ESOP and One time expenses11.60.22.6Profit/(Loss) Before Tax(3.9)0.25.7* Excluding ESOP Expenses** Excluding One time expensesReportedValue in INR Crore Consolidated Profit & Loss Statement – Reported
• Employee Benefit Expenses exclude INR 8 Cr charge to the P&L in H1 FY26 on account of ESOPs granted to the employees.
• Other Expenses exclude one time
expenses of INR 6.2 Cr, primarily for Advisory services towards implementing cost improvement programs in packaging materials, manufacturing and logistics.
• Normalising for above expenses, the proforma EBITDA of the Group for H1 FY26 is INR 31.8 Cr, 4.2% of sales.
Sundrop Brands acquired 100% equity shares and voting interest of DMFPL on February 6, 2025, being acquisition date. DMFPL has contributed revenue of INR 325.9 Cr for the half year ended September 30, 2025 to the consolidated revenue of the company. Accordingly, the consolidated financials result for the half year ended September 30, 2024 are not comparable.
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H1 FY 26H1 FY 25 % of Change Revenue from Operations755.4386.795%Material Costs (RM & PM)480.4242.998%Employee Expenses *73.833.1123%Advertisement and promotion expenses50.615.3231%Other Expenses ** 118.883.143%EBITDA 31.812.2159%EBITDA %4.2%3.2%Depreciation & Amortisation16.610.9Finance Cost0.71.2Other Income(1.5)(0.3)Profit/(Loss) Before ESOP and one time expenses16.00.53161%ESOP and One time expenses14.2-Profit/(Loss) Before Tax1.80.5261%* Excluding ESOP Expenses** Excluding One time expensesReportedValue in INR Crore Consolidated Profit & Loss Statement – Proforma Includes proforma financials of Del Monte Foods in the base period of Q2 FY25
• Employee Benefit Expenses exclude INR 6.5 Cr charge to the P&L in Q2 FY26 on account of ESOPs granted to the employees. Excluding ESOP charge, Employee Benefit Expenses are 13% higher vs. last year.
• Other Expenses exclude one time
expenses of INR 5.1 Cr, primarily for Advisory services towards implementing cost improvement programs in packaging materials, manufacturing and logistics.
• Normalising for above expenses, the proforma EBITDA of the Group for Q2 FY26 is INR 15.5 Cr, 4% of sales, 29% growth vs. last year.
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Q2 FY 26Q2 FY 25 % of Change Q1 FY 26Revenue from Operations383.3353.98%372.1Material Costs (RM & PM)240.1225.76%240.3Employee Expenses *38.333.813%35.5Advertisement and promotion expenses27.720.734%22.9Other Expenses **61.761.70%57.1EBITDA 15.512.029%16.3EBITDA %4.0%3.4%4.4%Depreciation & Amortisation8.09.08.6Finance Cost0.33.90.4Other Income(0.6)(2.3)(0.9)Profit/(Loss) Before ESOP and one time expenses7.71.4434%8.3ESOP and One time expenses11.60.22.6Profit/(Loss) Before Tax(3.9)1.35.7* Excluding ESOP Expenses** Excluding One time expensesProformaValue in INR Crore Consolidated Profit & Loss Statement – Proforma Includes proforma financials of Del Monte Foods in the base period of H1 FY25
• Employee Benefit Expenses exclude INR 8 Cr charge to the P&L in H1 FY26 on account of ESOPs granted to the employees. Excluding ESOP charge, Employee Benefit Expenses are 7% higher vs. last year.
• Other Expenses exclude one time
expenses of INR 6.2 Cr, primarily for Advisory services towards implementing cost improvement programs in packaging materials, manufacturing and logistics.
• Normalising for above expenses, the proforma EBITDA of the Group for H1 FY26 is INR 31.8 Cr, 4.2% of sales, 30% growth vs. last year.
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H1 FY 26H1 FY 25 % of Change Revenue from Operations755.4686.410%Material Costs (RM & PM)480.4440.29%Employee Expenses *73.869.17%Advertisement and promotion expenses50.635.244%Other Expenses **118.8117.41%EBITDA 31.824.530%EBITDA %4.2%3.6%Depreciation & Amortisation16.618.0Finance Cost0.78.3Other Income(1.5)(3.0)Profit/(Loss) Before ESOP and one time expenses16.01.21285%ESOP and One time expenses14.20.2Profit/(Loss) Before Tax1.81.081%* Excluding ESOP Expenses** Excluding One time expensesProformaValue in INR Crore Summing Up
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Platform with stable of Well known Food Brands catering to modern, evolving consumer food choices
2
Riding on Consumer Mega Trends driving consumption of Branded Packaged Foods
3
4
Identified high growth and margin categories with leadership position and / or significant headroom for growth
Renewed investment on core portfolio driving accelerated growths while ensuring capital efficiency
5
Leveraging complementary channel and manufacturing strengths to drive accelerated growth
6
Backed by management with strong credentials to drive growth, profitability and value creation
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Thank you