Vidhi Specialty Food Ingredients Limited has informed the Exchange about Investor Presentation
Date
e: March 16
6, 2021
To,
The Dep BSE Phir Mu Scri
, e Manager, of Corporat partment o E Limited roze Jeejee umbai- 4000 ip Code: 53
ebhoy Tow 001 31717
te Services
s (DCS-List
ting)
wers, Dalal
Street,
The List Nat Exc Com Sym
, e Manager, pliance ting Comp ck Exchang tional Stoc za, C-1, Bl change Pla ndra (E), M mplex, Ban HIING mbol: VIDH
ge of India ock G, Ban Mumbai – 4
Ltd. a ndra Kurla 400 051
Dear
r Sir/Mada
am,
Ref. Sub: Requ
: Company : Intimatio uirements
y Code: BS on under R s) Regulati
SE – 53171 Regulation ions, 2015
7, NSE Sy n 30 of the
mbol: VID SEBI (List
DHIING ting Oblig
gations and
d Disclosu
ure
Purs Regu oper
suant to R ulations, 2 rations of t
Regulation 2015 pleas the Compa
n 30 of th se find at any.
he SEBI ttached he
(Listing O erewith in
Obligations nvestor pr
s and Dis resentation
sclosure R n on the
Requireme business
nts) and
Requ
uest you to
o kindly tak
ke the sam
me on recor
rd.
Than
. nking you.
Your For V
rs sincerely Vidhi Speci
y, ialty Food I
Ingredients
s Limited,
Awd Com
dhesh Kuma mpany Secre
ar Pandey etary and C
ompliance
Officer
Vidhi Specialty Food Ingredients Limited
COLOURS You Can Trust For Your Food
Investor Presentation – March 2021
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
COLOURS You Can Trust For Your Food
2
All About Food Colours
Why Food Colours???
✓ Food colours are ingredients that are added to food or beverage to enhance
its appearance
✓ Colours when added to food products imparts very bright and tempting
effect
Improves the appearance of the product for consumption
Consistency in the product appearance to influence the consumer to buy a product through visual perception
Enhance the visual appeal of a dish and introduce decorative colours to other foods
COLOURS You Can Trust For Your Food
Colour of the food can influence the perceived flavor
3
Huge Industry Potential with Limited Players
Food Colour Industry Growth
Upsurge in demand for food colors from various end-use industries, including food & beverages, bakery & confectionery, dairy products, meat & poultry, and seafood
USD Bn
+6% CAGR
5.1
3.7
l a i t n e t o P y r t s u d n I
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
Colour is a key component to enhance the ultimate appetizing value and consumer acceptance towards foods and beverages.
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.
Technological advancements and growing R&D activities improved characteristics
for
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
COLOURS You Can Trust For Your Food
Source: Industry Reports
4
About Vidhi Specialty Food Ingredients
An Institution in Edible Colour Technology
2nd Largest food colour manufacturer in Asia
Supplying to 80 Countries across 6 continents
Existing Capacity of over 3,500 MT p.a. + ~8,500 MT p.a. under expansion
Over 200 active customers
Diversified End User Industry
Food & Beverages
Cosmetics
Confectionaries & Bakery
Personal Care Products
Pet Foods
Pharmaceuticals
Home Care Products
COLOURS You Can Trust For Your Food
5
Legacy of over 2 Decades
Vidhi Dyestuffs Mfg. Ltd. incorporated with production capacity of 30 MT / Month
Increased Production Capacities to 90 MT / Month
Brownfield expansion with capacities increased to 250 MT / Month
Capacity expansion plans up to ~900 MT / Month with 2 Greenfield Expansions
1996
2005
2015
2022- 2023
2000
2011
2019
Increased Production Capacities to 55 MT / Month
New Factory Commissioned enhancing total production capacity to 150 MT / Month
Enhanced capacities to 325 MT / Month & Completed product development of D&C Dyes, Lakes & solvent dyes
COLOURS You Can Trust For Your Food
6
Synthetic Food Colours
r e t a W y r a m i r P
d o o F e l b u l o S
s r u o l o C
r e t a W
f o s d n e l B
d o o F
e l b u l o S
s r u o l o C
d o o F e k a L
s r u o l o C
• 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
Synthetic Water Soluble Colours
Full range of 14 water soluble colours available in Microfine Powder, Fine Plating Grade Powder & Granular Forms
FD&C Certified Water Soluble & Lakes
Full range of U.S. FDA Certified Colours in Microfine Powder, Fine Plating Grade Powder & Granular Forms & Lakes
• Obtained from mixing different primary colors with
one another
• Resultant colors are unique in color property and
provide a different feel to products
Aluminum Lakes
Full range Of Aluminum Lakes used in Surface Coatings, Capsules, Dry Snacks Food Packaging Material etc.,
D&C Colours
Range of Certified D&C Dyes & Lakes For Drug & Cosmetic Applications
• Used where colouring is to be imparted by coating,
these are basically Food Grade Pigments
Blends
We can develop and match any shade as per the customers specifications
• Lake Colours are bright, consistent, and useful in confectioneries, food
snack cosmetics,
inks, plastic,
food,
industries like pharmaceuticals, containers etc.
Others
Co-blended Lakes & Granules
COLOURS You Can Trust For Your Food
7
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
COLOURS You Can Trust For Your Food
8
Existing Manufacturing facilities
• Our Manufacturing facilities have been audited and found satisfactory by the U.S. FDA • 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
• 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
• Plant Plot No 68 :
• 2 Dedicated Sections To Manufacture Azo Colours & Lakes : (AZO IV, AZO V)
COLOURS You Can Trust For Your Food
9
Long runway for growth
Capacity Expansion
Metric Tons per Month
3x Planned Capacity Expansion in 2 years
325
250
150
90
30
55
Pursuing Capacity Expansions
Phase I
~720
~1,000
➢ In Dahej Sez, Gujarat
➢ 360 MT Capacity to be installed
➢ EC clearance received
➢ Civil construction commenced
➢ Expected timeline 12 months
➢ Capex ~Rs. 30 crs, to be funded largely from internal accruals
Phase II
➢ Arjun Foods, a wholly-owned subsidiary of Vidhi in Roha MIDC, 200 meters away from the current manufacturing site bring operational synergies
➢ 350 MT Capacity to be installed for manufacturing of new high
1995
2000
2005
2011
2015
2019
2022/23e
2023e
margin products
To address the Demand Supply Gap through capacity expansion
➢ Terms of reference from MPCB have been received
➢ Expected time line 12-18 months
➢ Capex ~Rs. 30 crs, to be funded largely from internal accruals
COLOURS You Can Trust For Your Food
10
Diversified End-user Market
t e k r a m e h c i n d e t a l u g e r y l h g i H
t e k r a m r e s u - d n e d e i f i s r e v i d h t i
w
• Soft/Health Drink • Ice Creams • Sherbets
e • Processed Foods g a r e v e B & d o o F
• Jam’s & Jellies • Juices
& y r e n o i t c e f n o C
y r e k a B
s l a c i t u e c a m r a h P
• Chocolaté Fillings
• Candies
• Toffies
• Pastries
• Soufflés
• Syrups
• Tablets
• Capsules
s c i t e m s o C
• Lip Gloss
• Nail Varnish
• Mascara
• Eye Shadow
e • Shampoos r a C
• Body wash
l a n o s r e P
e r a C e m o H
• Hair gel
• Shaving Gels
• Dish Washers
• Floor Cleaners
• Disinfectants
• Sanitizers
Pet food & Cattle Feed
• Dog food
• Cat food
• Cattle/Poultry
Feed
COLOURS You Can Trust For Your Food
11
Marquee Customers across Industries
Cosmetics
Customer & Industry Diversity
Confectionaries & Bakery
Britannia
Unilever
Procter & Gamble
Personal/ Home Care
Food & Beverage
Pharmaceuticals
Nestle
Kraft
Coca-Cola
Cipla
Parle G
Mars
Pfizer
Sanofi
Cadila
Rasna
Pepsi
Kerry
ITC
Mondelez
Mala’s
Pet food, Cattle & Poultry feed
and many more MNC’s across the globe
COLOURS You Can Trust For Your Food
12
Global Footprint
Continent Wise Sales
Country Wise Sales (9MFY21)
7%
19%
26%
7%
USA
19%
30%
FY20
9MFY21
22%
21%
21%
5%
20%
4%
UK
MALTA
Mexico
Africa Asia
Europe Middle East
North America South America
Italy
France
Brazil
Spain
Sri Lanka
Australia Chile
Argentina
Canada
China
South Africa
Philippines
Indonesia
BANGLADESH
Bolivia
Colombia
COSTARICA
CYPRUS
Malaysia
MOROCCO
Pakistan
Peru
REPUBLIC OF POLAND
CZECH REPUBLIC
Egypt
EL SALVADOR
RUSSIA
SYRIA
Thailand
Georgia
Germany
Guatemala
HUNGARY
Iran
KENYA
The Nethelands
TURKEY
UAE
Uruguay
Venezuela
Vietnam
Diversified Geographical Presence
✓ Exporting to more than 80 countries across 5 continents. meeting all the specific regulatory requirements for each country
and continent
✓ Continuous addition of new customers and increasing wallet share in existing customers enhancing the growth for the
years to come
✓ Top 10 countries contribute to ~40% of the revenues & Top 10 customers contribute ~ 41% of the revenues
COLOURS You Can Trust For Your Food
13
Stringent Regulatory Approvals
Synthetic Water Soluble Colours
European Commission & JECFA Approved
Aluminum Lakes
European Commission & JECFA Approved
D&C Colours
U. S. FDA Approved
FD&C Colours
U. S. FDA Approved
FD&C Lakes
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
COLOURS You Can Trust For Your Food
14
Certifications & Regulatory Approvals
✓ 1st Company in the field of manufacturing synthetic food colours
in India to be awarded with ISO 9002 in the year of 2000
✓ ISO 9001:2015, ISO 22000:2005 certified company
✓ The Management Of Food Hazard Analysis (HACCP) system for
the manufacture of synthetic food colours & lakes
✓ Vidhi is a FSSC 22000 accredited company and hence GFSI
compliant and also have GMP
COLOURS You Can Trust For Your Food
15
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
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
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Qualified Technical Team
End User Approach
Stringent Testing
• 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
Collaborative working with regulatory bodies
• 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
16
Growth Drivers
Increasing Global Presence Penetrating the untapped markets & increasing in the wallet share of existing customers
5
1
Maximum Utilization of Capacity Maximize the capacity utilizations post planned expansion with multiple customers on board
Customer Satisfaction Superior customer experience through consistent delivery of quality products
4
2
Automated Manufacturing Processes/ Backward Integration Increase automation to bring operating leverage from existing & new facilities to enhance margins along with backward integration
3
Diversify into High Margin Products Continuous R & D to develop highly specialized niche products to enhance revenues & margins
COLOURS You Can Trust For Your Food
17
High Entry Barriers
Technical Know-how
• Technical know-how with years of experience for continuous development of new products & colours
Long Customer Approval • 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
• End
have
users
internal specifications which are often more stringent than the regulations to which they adhere to
Highly Regulated Markets
• Operate in a highly regulated markets with multiple regulatory approvals required
• Undertaken various approvals backed by an appropriate lab testing facility and among the very few USFDA food approved manufacturers of grade colours in India
High Entry Barriers for New Competition
• Follow stringent
Quality Control Process control norms on batch wise before delivery to the customer
quality
• With strong controls and processes in place, able to deliver quality products to customers
• High cost of change in vendor due to stringent norms & approval cycle enhances customer stickiness
COLOURS You Can Trust For Your Food
18
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
COLOURS You Can Trust For Your Food
19
Experienced Board of Directors
Mr. Bipin M. Manek
Mr. Mihir B. Manek
Mr. Vijay K. Atre
Mrs. Pravina B. Manek
Mrs. Vidhi H. Parekh
Chairman & Managing Director
Joint Managing Director
Non-Executive Director
Non-Executive Director
Wholetime Director
Mr. Niren D. Desai
Mr. Prafulchandra A. Shah
Mr. Rahul C. Berde
Mr. Ashit K. Doshi
Mrs. Jyoti S. Modi
Independent Director
Independent Director
Independent Director
Independent Director
Independent Director
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20
Strong Management Team
Mr. Bipin M. Manek
Chairman & Managing Director
Mr. Mihir B. Manek
Joint Managing Director
Rich & Diversified experience of over 34 years in the field food colour manufacturing. Acknowledged as a thought leader in transforming the Company from a small food color manufacturing company to the Asia’s 2nd largest food color manufacturing Company.
Associated with the company for more than 11 years with expertise in procurement of imported raw materials and distribution. Played a significant role in leading multiple initiatives to accelerate production and sales
Mr. Mitesh Manek
Mr. Vijay K. Atre
Mr. Awdhesh Kumar Pandey
Chief Financial Officer
Non-Executive Director
in
Postgraduate with experience administration. Also, sales & distribution geographies
years
17 finance
of & looks after the various
to
in Science
from Masters Degree University of Mumbai with experience of 41 years in the field of food colors manufacturing. Associated with the company since inception
Company Secretary & Compliance Officer
An associate member of the Institute of Company Secretaries of India (ICSI) & Bachelor’s in Commerce
COLOURS You Can Trust For Your Food
21
Financial Performance
22
Q3 & FY21 Consolidated Key Highlights
Revenue
EBIDTA
PAT
Rs. In Crs
Rs. In Crs
Rs. In Crs
+6%
159.5
168.6
+1%
35.4
35.7
+3%
23.9
24.7
+47%
79.3
54.0
+34%
15.6
11.6
+36%
10.5
7.7
Q3FY20
Q3FY21
9MFY20
9MFY21
Q3FY20
Q3FY21
9MFY20
9MFY21
Q3FY20
Q3FY21
9MFY20
9MFY21
✓ Gujarat Pollution Control Board (GPCB) vide letter dated December 03, 2020 has granted the Environment Clearance (EC) to the Company for setting-up a plant in Dahej SEZ, wherein the Company intends to manufacture 300 metric tonnes per month of Synthetic Water-Soluble Food Colours and 60 metric tonnes of Synthetic Food Grade Lakes. The work has already been started and is progressing well and we expect commercial production in the next 12-15 months.
✓ The board of directors has declared 3rd interim dividend of Rs. 0.2 per/equity share of Rs. 1 each fully paid up (i.e., 20% of the face value) for
FY 20-21.
COLOURS You Can Trust For Your Food
23
Q3 & 9M FY21 Consolidated Profit & Loss Statement
Particulars (Rs in Crs)
Revenue from Operations
Cost of Materials Consumed
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
Q3 FY21
Q3 FY20
Y-o-Y
Q2 FY21
Q-o-Q
9M FY21
9M FY20
79.3
52.4
26.8
54.0
31.7
22.3
46.8%
20.5%
33.9%
41.3%
2.2
9.1
1.8
8.9
49.1
30.3
18.9
38.4%
1.7
7.2
61.4%
42.4%
168.6
104.7
63.9
159.5
93.9
65.6
37.9%
41.1%
5.4
22.9
35.7
5.4
24.7
35.4
15.6
11.6
34.0%
10.0
55.2%
19.6%
21.5%
20.4%
21.1%
22.2%
0.0
0.7
14.9
0.6
14.3
3.8
10.5
0.1
0.7
11.0
0.7
10.3
2.6
7.7
13.2%
14.3%
2.08
1.54
0.9
0.7
10.2
0.2
10.0
2.5
7.5
15.3%
1.49
45.5%
39.5%
1.0
2.1
34.5
1.2
33.4
8.7
24.7
0.4
2.1
33.7
2.0
31.7
7.8
23.9
14.7%
15.0%
4.91
4.78
36.2%
Y-o-Y
5.7%
-2.5%
0.7%
3.5%
COLOURS You Can Trust For Your Food
24
Consolidated Operating Performance
Revenue from Operations (Rs. in Crs)
EBIDTA (Rs. in Crs)
+5%
192.6
212.6
228.4
224.6
168.6
+20%
46.1
50.4
29.0
31.5
35.7
FY17
FY18
FY19
FY20
9MFY21
FY17
FY18
FY19
FY20
9MFY21
Profit before Tax (Rs. in Crs)
Profit after Tax (Rs. in Crs)
+24%
40.8
45.2
33.4
+32%
33.9
29.1
24.7
23.6
24.5
14.7
15.7
FY17
FY18
FY19
FY20
9MFY21
FY17
FY18
FY19
FY20
9MFY21
COLOURS You Can Trust For Your Food
25
Consolidated Historical Profit & Loss Statement
Particulars (Rs in Crs)
Revenue from Operations
Cost of Materials Consumed
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
9MFY21
Mar-20
Mar-19
Mar-18
Mar-17
CAGR (FY20-FY17)
168.6
104.7
63.9
37.9%
5.4
22.9
35.7
224.6
133.5
91.2
40.6%
7.3
33.4
50.4
228.4
145.3
83.0
36.4%
6.7
30.2
46.1
212.6
144.9
67.6
31.8%
5.3
30.8
31.5
192.6
133.7
58.9
30.6%
4.2
25.8
29.0
21.1%
22.5%
20.2%
14.8%
15.0%
1.0
2.1
34.5
1.2
33.4
8.7
24.7
14.7%
4.91
0.6
3.0
48.1
2.9
45.2
11.3
33.9
15.1%
6.79
0.6
2.4
44.3
3.4
40.8
11.8
29.1
12.7%
5.82
0.4
2.5
29.4
4.9
24.5
8.8
15.7
7.4%
3.15
0.8
2.3
27.5
3.9
23.6
8.9
14.7
7.6%
2.93
5.3%
15.7%
20.3%
32.3%
COLOURS You Can Trust For Your Food
26
Consolidated Historical Balance Sheet
Particulars (Rs in Crs)
Sep-20 Mar-20 Mar-19 Mar-18 Mar-17
Particulars (Rs in Crs)
Sep-20 Mar-20 Mar-19 Mar-18 Mar-17
Equity Share Capital
5.0
5.0
5.0
5.0
5.0
Property, Plant and Equipment
31.0
40.2
30.8
29.3
30.0
129.0
123.7
96.0
72.0
61.1
Capital Work-in-progress
5.5
5.5
0.1
Other Equity
Total Equity
Financial Liabilities
(i) Borrowings
Provisions
Deferred Tax Liabilities (Net)
Total Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease Liabilities
(iii) Trade payables
(iv) Other Financial Liabilities
Provisions
Current Tax Liabilities (Net)
Other Current Liabilities
134.0
128.7
101.0
77.0
66.1
2.5
0.6
1.9
5.0
4.1
0.0
1.3
0.5
2.1
3.9
2.8
0.3
2.6
5.7
4.3
3.0
2.8
7.2
2.7
5.7
31.0
39.4
37.8
58.2
0.0
0.0
0.0
0.0
14.2
17.9
18.3
27.7
27.3
1.8
0.2
1.4
2.1
3.2
0.1
0.7
1.4
2.8
0.1
0.6
1.7
3.9
0.1
0.9
0.6
3.6071
0.0
2.6
0.5
Financial Assets
(i) Investments
-
-
Other Non Current Assets
0.2
0.2
0.0
0.2
-
-
0.3
-
0.1
0.3
Total Non-Current Assets
36.7
46.0
31.1
29.6
30.3
Inventories
Financial Assets
31.7
34.2
35.3
34.6
40.7
(i) Trade Receivable
62.3
77.0
61.9
59.1
61.1
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances
(iv) Loans
(v) Other Current Financial Assets
Current Tax Assets (Net)
5.0
7.7
0.6
1.0
0.0
7.1
7.7
0.4
0.9
-
18.1
0.4
0.3
1.0
-
7.7
0.5
0.3
1.1
-
4.6
0.7
0.3
1.1
-
Other Current Assets
18.0
13.7
21.4
22.4
25.3
Total Current Liabilities
23.9
54.4
62.8
71.1
92.2
Total Current Assets
126.2
141.0
138.4
125.7
133.7
Total Equities & Liabilities
162.9
187.0
169.5
155.2
164.0
Total Assets
162.9
187.0
169.5
155.2
164.0
COLOURS You Can Trust For Your Food
27
Consolidated Abridged Cash Flow Statement
Cash Flow Statement
Sep-20
Mar-20
Mar-19
Mar-18
Mar-17
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
19.1
1.4
20.5
8.5
29.1
-4.5
24.6
0.5
-27.2
-2.1
14.9
12.7
45.3
6.0
51.3
-6.9
44.4
-11.6
32.8
-17.7
-18.9
-3.7
18.5
14.8
40.85
24.46
5.3
46.2
-12.4
33.8
-11.7
22.1
-3.5
-8.2
10.3
8.2
18.5
7.1
31.6
10.2
41.8
-8.6
33.2
-1.5
-28.8
2.9
5.3
8.2
23.60
5.7
29.3
-30.1
-0.7
-8.2
-8.9
-0.8
4.8
-4.9
10.2
5.3
COLOURS You Can Trust For Your Food
28
Sustainable Return Ratios
Cash flow from Operations
Borrowings and Cash & Cash Equivalents
33.2
32.8
22.1
24.6
Rs. In Crs
-8.9
Mar-17
Mar-18
Mar-19
Mar-20
Sep-20
Rs. In Crs
61.2
Cash & Cash Equivalents Borrowings
42.1
42.2
32.3
18.5
14.9
12.7
6.7
5.3
8.2
Mar-17
Mar-18
Mar-19
Mar-20
Sep-20
ROCE (%)
ROE (%)
Net Debt to Equity (x)
30.9%
29.9%
28.0%
28.8%
26.4%
0.8
24.7%
21.6%
22.2%
20.4%
21.2%
Mar-17 Mar-18
Mar-19 Mar-20
Sep-20*
Mar-17
Mar-18
Mar-19
Mar-20 Sep-20*
Mar-17
Mar-18 Mar-19
Mar-20
Sep-20
COLOURS You Can Trust For Your Food
*Annualised basis
29
0.4
0.2
0.1
0.0
Thank You
BSe
Company :
Investor Relations Advisors :
Vidhi Specialty Food Ingredients Limited
Orient Capital (a division of Link Group)
CIN: L24110MH1994PLC076156
Mr. Mitesh Manek - CFO
mitesh.manek@vidhifoodcolour.com
www.vidhifoodcolour.com
Ms. Neha Shroff: +91 77380 73466 neha.shroff@linkintime.co.in
Mr. Sagar Shroff: +91 98205 19303 sagar.shroff@linkintime.co.in
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