Q4 & FY20 - Results Presentation June 2020
Disclaimer Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, like regulatory changes, local political or economic developments, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Prataap Snacks Limited (PSL) will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward looking statements to reflect subsequent events or circumstances. 2
Contents Company Overview 4 Industry Overview 17 COVID19 Impact on the Business 21 Q4 & FY’20 Results Performance 26 3
Company Overview 4
Prataap Snacks at a Glance Over More than SKUs Manufacturing packets sold 5 year revenue Facilities* per day CAGR Over Reach of over Retail In Rings Super Stockists Distributors Touchpoints 5 *(5 Inhouse plants and 9 contract manufacturing units)
Diverse Product Portfolio CUP CAKE, RINGS, KURVES & NAMKEEN & POTATO CHIPS CHULBULE NAMKEEN PELLET SNACKS TIFFIN CAKE & PUFF FRYUMS SANDWICH CAKE ▪ Potato based ▪ Rice grit & ▪ Corn grit ▪ Gram based ▪ Wheat based ▪ Cake ▪ Namkeen snack Corn grit based snack variations and Fryums ▪ SKUs: 22 ▪ SKUs: 4 based snack with catering to ▪ SKUs: 7 ▪ Market varieties flavours Chocolate local tastes flavors ▪ SKUs: 8 leader in ▪ Target ▪ Target fillings flavours Rings ▪ SKUs: 55 ▪ Target group: All group: ▪ SKUs: 5 varieties group: All ▪ Target ▪ SKUs: 8 Children flavour group: Youth flavours ▪ Target & Children ▪ Target group: All ▪ Target group: group: Children and Children Youth Diverse product portfolio at strategic price points and pack sizes 6
Avadh Snacks Product Portfolio Namkeen Fryums Fastest growing and fourth largest snacks player in Gujarat ~6% market share in Gujarat, one of the largest market 22% revenue CAGR over the past 3 years Key Products: Bhavnagri Gathiya, Sada Key Products: Tomato Cup, Salted reffil, Mamra, Papdi Gathiya, Chavanu, Masala cup, Chiji Noodles, Salli, White Lasaniya Mamra crunchy papad Avadh Snacks delivered a robust topline Price Point: Rs. 5, 10, 30, 50 Price Point: Rs. 5, 10, performance for FY ‘20 SKUs: 34 varieties SKUs: 21 varieties 7 Target group: Adults Target group: Children
Avadh Snacks - Unique Business model & Expansion plans Expansion plans Business Model Avadh has a Unique Business model • Super Value Player offering higher Increased capacity of value for Money to consumers. Rajkot facility by 50% from Q1FY20 Pan India expansion Direct Distribution model To expand Avadh’s using products in neighboring • Manufacturing facility at Rajkot Prataap’s and a well-oiled distribution markets initially existing network in Gujarat distribution • Established facility in close proximity to markets to reduce distribution costs • Direct supplies to distributors without any C&F / super stockist 8
Sweet Snacks Portfolio Center Filled Choco Vanilla Sandwich Cookie-Cake Yum Cake Tiffin Cake Cup Cake Cake Cake ▪ SKU's - 3 ▪ SKU's - 2 ▪ SKU's - 1 ▪ SKU's - 1 ▪ SKU's - 1 ▪ SKU's - 3 ▪ Target ▪ Target ▪ Target ▪ Target ▪ Target ▪ Target group - group - group - group - group - group - Youth and Youth and Youth and Youth and Youth and Youth and Children Children Children Children Children Children Diverse product portfolio at strategic price points and pack sizes 9
Track Record of Innovation Launched Launched Nachos, and Launched Cup Cake, Kurves Yum Cake, Tiffin Cake Introduction Launched Cookie and Yum-Pie, a of Seven Cake and Sandwich variety of Wonders Choco Cake sweet snacks, Vanilla range of under Rich Introduction Cake healthier Feast of Yoodles 2020 snacks Introduction and Creamy 2019 Introduction 2018 of Rings, Sticks 2017 of Scoops Namkeen and Kurves 2016 • Cheese and 2015 Wheels 2014 masala Ring 2013 Namkeen variants • Mango 2012 • Chana Choor Namkeen Chutney 2010/11 Namkeen 2009/10 • Garlic Sev • MRP 15/- Potato Chips • Banana Wafer Mamra pack with Potato Chips • Black Pepper Black Pepper • Masala Matar Potato Chips bigger toys • Tasty Punch • Banana Wafer • Gatiya • Cream & Salted Masala Onion Chulbule • Nimbu • Cornflake Chulbule • Achari Masala Mixture • Cream & • Mitha Falahar Onion Potato Chips Chulbule • Bhel • Mast Masala¹ • Taza Tomato • Sev Murmura Potato Chips • Yummy Masala 10 Note: As per Financial Year • Chatpata
Key Milestones Entered into 3P Contract Manufacturing Sequoia’s initial Doubled the Guwahati new plant in Karjat & investment of Rs. Installed capacity of Potato commissioned Kashipur Prakash Snacks 620 mn Chulbule Chips plant at incorporated. Prataap Snacks Introduction of plant at Indore from Conversion of company Acquired Avadh Commenced Yoodles and Prakash 6,000MT per from Private to Public Snacks Private trading Prataap Snacks Creamy Sticks Snacks in annum to Limited in Cheese Balls took over the Indore 12,000MT per Faering Capital business of annum acquired 2.9% stake Prakash Snacks 2020 2003 2005 2007 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Successfully Successful IPO – oversubscribed 47x; launched Cup Cake, listed on NSE & BSE on Tiffin Cake and Commissioned Commissioned Oct 5, 2017 Sandwich Cake Rings and Guwahati plant Set up a plant Prataap Snacks Increased the Namkeen plant in for Rings, Launch of Kurves, Nachos to incorporated and capacity of Concluded the Indore Chulbule and in Salty Snacks and Yum- manufacture set up a Potato Chulbule and merger of Pure N Sure Pellets Pie in Sweet Snacks Potato Chips in Chips plant in Rings plant at Introduction of Indore Indore Indore Commenced a 3P in Rings, Namkeen Introduction of Entered into 3P Contract Hisar, Haryana and Wheels Scoops Manufacturing at Ahmedabad, Kolkata - 2 and Bengaluru-2 11 Note: As per Financial Year
Pan India Presence Strategically located Manufacturing facilities to cater the regional demand 1 No. of Facilities Products Hissar No. of Facilities Products 1 – Contract Facility Extruded Snacks, Pellets, Chulbule Kashipur 1 - Contract Facility Chips, Namkeen, Pellet 10 1 5 Indore No. of Facilities Products 6 Headquartered in 8 Chips, Extruded 1 Indore Snacks, Sweet 2 - Owned Snacks, Pellets, 19 4 Namkeen 29 7 6 3 No. of Facilities Products 2 Guwahati 2 - Owned Extruded Snacks, Pellets No. of Facilities Products 1 1 Rajkot 1 21 4 87 1 – Owned Pellets, Namkeen 1 Kolkata 1 No. of Facilities Products Ahmedabad No. of Facilities Products 7 2 – Contract Facilities Chips & Nachos 2 - Contract Facilities Chips, Namkeen 2 Karjat 1 No. of Facilities Products 2 Region No. of States / UT No. of Super Stockists 1 - Contract Facility Pellets 6 North 7 53 East 12 39 South 5 18 Bengaluru No. of Facilities Products 1 West 5 135 7 & Tumkur 1 - Contract Facility Pellets, Extruded Snacks *Includes one Union Territory, Map not to scale 12 1 – Contract Facility Chips
Guided by an Accomplished Board Arvind Mehta Chairman & Executive Director Over 30 years of experience in real estate business along with over 16 years in the snacks Vineet Kumar Kapila food industry and in the financing business Independent Director Ex-COO (RPC North of United Spirits) & earlier Mr. V.T. Bharadwaj Amit Kumat MD (Spencer’s Retail) Independent Director Managing Director & CEO General Partner at A91 Partners Managing Director and Chief Executive Officer Over 18 years in management consultancy & PE investments. Previously worked with Over 23 years in the snacks food industry Haresh Ram Chawla Sequoia Capital and McKinsey & Company Independent Director Partner (India Value Fund) & earlier CEO Apoorva Kumat (TV18) Executive Director (Operations) Anisha Motwani Independent Director Over 23 years of experience in the snacks food industry Partner (Storm the Norm Ventures) Chetan Kumar Mathur Earlier with General Motors India & Max Life Independent Director Insurance Company G.V. Ravishankar Ex-CFO PepsiCo India (Snacks) Non-Executive / Non-Independent 30 years of experience in F&B industry, worked Director MD (Sequoia Capital) with PepsiCo India for 23 years Over 18 years in management consultancy & PE investments. Previously worked at McKinsey & Company and Wipro Technologies PSL has high standards of Corporate Governance and sound internal control policies 13
Helmed by a Professional Management Team Mr. Arvind Mehta Over 30 years of experience in real estate business along with over 16 years in the Chairman & Executive snacks food industry and in the financing business Director Corporate functions Mr. Amit Kumat Managing Director and Chief Over 23 years in the snacks food industry Executive Officer Mr. Apoorva Kumat Over 23 years of experience in the snacks food industry Executive Director Member of Institute of Chartered Accountants of India. He has over 17 years of Mr. Sumit Sharma experience in accounting, finance, banking and taxation and worked with Crompton Chief Financial Officer Greaves, L&T and New Holland Group 14
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