KRBL Ltd. — Regulatory Filings 2024

Nov 13, 2024

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Ref: KRBL/SE/2024-25/47 November 13, 2024

The General Manager Department of Corporate Services BSE Limited Floor 25, Phiroze Jeejeebhoy Towers Dalal Street, Mumbai – 400 001 Scrip Code: 530813	National Stock Exchange of India Limited “Exchange Plaza”, C-1, Block-G Bandra-Kurla Complex Bandra (E), Mumbai-400051 Symbol: KRBL Series: Eq.

Sub: Investor Presentation on Unaudited Financial Results of KRBL Limited for the Second Quarter (Q2) and Half Year ended September 30, 2024

Dear Sir/Madam,

Pursuant to the provisions of Regulation 30 read with Para A of Schedule III of Securities and Exchange Board of India (“SEBI”) (Listing Obligations and Disclosure Requirements) (“LODR”) Regulations, 2015, we are pleased to enclose herewith the Investor Presentation on Unaudited Financial Results of KRBL Limited for the Second Quarter (Q2) and Half Year ended September 30, 2024.

This is for your kind information and record.

Thanking you,

Yours Faithfully, For KRBL Limited PIYUSH Digitally signed by PIYUSH ASIJA ASIJA Date: 2024.11.13 18:17:22 +05'30' Piyush Asija Company Secretary and Compliance Officer M.No.: A21328

Encl: As above

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INVESTOR PRESENTATION Q2 & H1 FY2025

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© 2024 KRBL All Rights Reserved

Leading Rice Company Market Leader in India, Exports to 90+ Countries

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5,482cr 6,938cr
FY 24 Total Income Market Cap. as on 30 [th] Sep’24 [#]
38.0% 36.2%
Highest GT Market Share Leading MT Market Share
16.4% 11 million
FY 24 EBITDA Household reach in India [ @]
10.9%
FY 24 PAT
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All figures in ₹. crore and are based on consolidated financials.

• Q2 FY25 Market share of basmati packaged rice in India as per Nielsen # Source: NSE

• @ Source: Kantar Household Panel (MAT June’24) – 13 Major Markets (Urban)

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© 2024 KRBL All Rights Reserved

Market Leadership Highlights

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India’s leading India Gate: exporter of branded The World’s #1 Basmati basmati rice with Rice Brand presence in 90+ countries*

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Robust domestic network supported by over 850+ distributors Underpinned by a Strong Financial Position with substantial internal accruals and minimal debt reliance

Unparalleled processing capacity with the Largest Rice Milling Plant in Punjab KRBL has Largest Contact Farming Network coverage for rice

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*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’24

© 2024 KRBL All Rights Reserved

Long Term Performance Financial Highlights

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Revenue PAT Market cap.
>Rs. 5K Cr >Rs. 596 Cr >Rs. 6K Cr
1.9x
2.3x
5.4x
Highlights
FY 2014 FY 2024 FY 2014 FY 2024 FY 2014 FY 2024
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Shareholder Pay out
Dividend + Buyback
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Rs. 946 Cr

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FY 14 to FY 24
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Long Term Value Creation For Stakeholders

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*It excludes any taxes or expenses on dividend and buyback; FY24 dividend subject to shareholder approval

© 2024 KRBL All Rights Reserved

Pricing Power Driven By Strong Brand & Superi0r Product

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Basmati Realization (per MT)*

29% India KRBL

India

KRBL

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KRBL enjoys significant premium, reflecting strong brand and superior product.

*KRBL FY24 Basmati Export Realisation per MT compared with India’s export realization. Latter is per APEDA export data of FY24.

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© 2024 KRBL All Rights Reserved

Robust Cash Flow Lower Debt Dependence

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FY18 FY19 FY20 FY21 FY22 FY23 FY24
0.90
4,858
4,693
0.70
4,070
0.49 3,693
0.51 0.50
3,128
2,727
0.30
2,279
0.12 0.10
1,381 0.08
1,128 0.01 0.02
-0.10 -0.10
374 371
53 77
-0.30
-390
-0.50
Net Bank Debt
New Worth
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All figures in ₹. crore and are based on consolidated financials

Strategically located facilities …

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Strategically located manufacturing and procurement facilities

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G B Nagar, Uttar Pradesh

Alipur, Delhi

• Manufacturing Capacity – 45 MT/Hr

• Grading, Sorting & Packaging Capacity – 30 MT/Hr

• Inception – 1993

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Punjab
Haryana Delhi
Uttar Pradesh (UP)
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Sonipat, Haryana

• Grading, Sorting & Packaging Capacity – 20 MT/Hr

• Rice processing, grading and packaging – 150 MT/Hr

Dhuri, Punjab

• Grading, Sorting & Packaging Capacity – 126 MT/Hr

• Anjar, • Grading, Sorting & Packaging Capacity – 30 MT/Hr Gujarat

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Gujarat
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© 2024 KRBL All Rights Reserved

Q2 FY25 Consolidated Performance Highlights

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1,306 1,283
Total Income Cash & Bank balance
310 (1,132)
Gross Profit Net Bank Borrowings
158 4,955
EBITDA Net worth
3,013
[103] PAT
Total Inventory
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All figures in ₹. crore and are based on consolidated financials.

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*Includes Other Bank balances and Investments (excluding Investment in Equity Shares)

© 2024 KRBL All Rights Reserved

Revenue

Performance Overview

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-6%
2,628
67 2,470
5% 62
1,270
1.214
34
39
1786
1909
984
940
Exports
775 Domestic
499
235 252
Power
Q2 FY24 Q2 FY25 H1 FY24 H1 FY25
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• Domestic & Export revenue grew by 5% & 7% respectively, in Q2 FY25. Growth driven by increased volume and realisation.

• In H1 FY25, domestic business grew by 7% while export revenue was lower owing to higher base of bulk sales in H1 FY24. Branded export revenue increased in H1 FY25.

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All figures in ₹. crore and are based on consolidated financials
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Q2 FY25 Profitability Metrics

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Gross Profit EBITDA Profit After Tax Cash Profit
18.2% 12.3%
29.0%
23.7%
12.1%
7.9%
153
173
362
228
310
103 122
158
Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25
Gross margin impacted by higher EBITDA margin at 12.1% affected by PAT margin followed the
increase in basmati input cost (7% y- lower gross margin and higher trend in EBITDA.
o-y) vis-a-vis realization (3% y-o-y) proportionate employee cost, prov.
and one-off prov. reversal in Q2 FY24. for doubtful debts, and other
Avg. basmati cost is flat over Q1 FY25. expenses.
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© 2024 KRBL All Rights Reserved

All figures in ₹ crore and are based on consolidated financials

H1 FY25 Profitability Metrics

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Gross Profit EBITDA Profit After Tax Cash Profit
12.9%
18.8%
28.9%
23.5%
11.8%
7.5%
387
348
777 506
593
229
297 189
H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25
Gross margin impacted by lower EBITDA margin at affected by lower PAT margin followed the
exports, higher increase in basmati gross margin and higher trend in EBITDA.
input cost (8% y-o-y) vis-a-vis proportionate employee cost, freight
realization (2% y-o-y) and and one-off on sales and other expenses.
prov. reversal in Q2 FY24.
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© 2024 KRBL All Rights Reserved

All figures in ₹ crore and are based on consolidated financials

Balance sheet Metrics Working Capital Highlights

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Inventory Volume (in `000 MT) Inventory Value (in Rs. Cr.) Working Capital Days
Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25
376
2,647 218 224
332 205 206
2,110
114
60 439
215 20 15 21 21
Inventory Days Payable Days Receivable Days Working capital
Paddy Rice Paddy Rice days
Higher inventory at quarter end on account of higher carrying cost and higher volume of rice in Q2 FY25.
All figures are based on consolidated financials
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Balance sheet Metrics Debt Protection Highlights

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Current Ratio (times)
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Net Bank Borrowings (Rs. Cr)
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Interest Coverage Ratio (days)

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Q2 FY24 Q2 FY25
8 250
6
166
(1,132)
(1,268)
Q2 FY24 Q2 FY25 Q2 FY24 Q2 FY25
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• Strong credit ratings from ICRA (AA(Stable)) and [ICRA] A1+; and CARE (A1+) reflect the confidence in KRBL's financial discipline and stability.

All figures are based on consolidated financials

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India Business

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© 2024 KRBL All Rights Reserved

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Continuing Market Leadership

Revenue in Rs. 984 Cr For Q2 FY25*

Revenue growth 5 % Y-o-Y

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Trend in Domestic Business
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Branded basmati volume grew by 10%.

Realisation remained firm in spite of rice price moderation in recent months.

All figures in Rs . crore and are based on consolidated financials. *Domestic Revenue excludes power revenue

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© 2024 KRBL All Rights Reserved

INDIA GATE, WITH ITS WIDESPREAD PENETRATION IN 1.1 CR HHs, OBSERVES SIGNIFICANT GAINS IN MARKET SHARE ACROSS CHANNELS

1 10 in every

Households *

consumes

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Excluding Rural
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1.1 CRORE INDIAN HOUSEHOLDS

General Trade Modern Trade E-Commerce Nielsen | JAS’24 vs. STLY Nielsen | JAS’24 vs. STLY Internal numbers | Sept’24 vs. STLY 38.0% 36.2% 40.0%

+428 bps +133 bps

+435 bps

Source : Kantar Household Panel (MAT Juner’24) – 13 Major Markets (Urban) | *All India - Urban Households

*Source: As per Nielsen’s Sept’24 & JAS’24 RMS data

Strategic pillars

Domestic

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Democratizing Remodeling Our Distribution Our Supply Chain Network Investing Foraying into In the Brand New Products & Categories

© 2024 KRBL All Rights Reserved

Strategic pillars

Domestic

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Democratizing Remodeling Our Distribution Our Supply Chain Network Investing Foraying into In the Brand New Products & Categories

© 2024 KRBL All Rights Reserved

DEMOCRATIZING DISTRIBUTION

Changing Distribution landscape of the category demands a Channel-focussed approach

1. MOVEMENT TOWARDS T1 & T2 TOWNS

NON-METRO URBAN CONTRIBUTION

Within Packaged Basmati 40% 60% In the last 5 years

with REACH SATURATION IN METROS…

2. KRBL HELMING PACKAGED BASMATI EXPANSION IN GT Healthy double digit category Significant growth, with KRBL growing Market share faster than the category growth

Over-indexed Consumer demand for KRBL (vs. category)

Pack. Basmati KRBL Indicating consumer 21% 36% movement from Sept ’24 Vs. STLY Loose → Packaged

PDO GROWTH* (%)

METROS

JAS’24 Indicating growth potential 83% for TC1 & TC2 towns

KRBL WEIGHTED DISTRIBUTION*

(VS. 53% KRBL overall TT)

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Presenting an opportunity to strengthen Distribution footprint

EXPANDING DISTRIBUTION IN TC1 & TC2 TOWNS

# OF

DISTRIBUTORS

850+

1000

*Weighted Distribution : Indicative of presence in Quality stores

*Per Dealer Offtakes : Average throughput from all stores where brand is available, indicative of Consumer Pull

*Source: As per Nielsen’s Sept’24 & JAS’24 RMS data

Current

Projected for the next 1 year

1.

DEMOCRATIZING DISTRIBUTION

Changing Distribution landscape of the category demands a Channel-focussed approach

MOVEMENT TOWARDS TC1 & TC2 TOWNS 2

NON-METRO URBAN CONTRIBUTION

Within Packaged Basmati 40% 60% In the last 5 years

with REACH SATURATION IN METROS…

KRBL HELMING PACKAGED BASMATI EXPANSION IN GT Healthy double digit category growth

Over-indexed Consumer demand for KRBL

CATEGORY KRBL SAH GROWTH* (%) -1% 5% Probable consumer movement from PDO GROWTH* (%) 21% 36% Loose → Packaged

Sept ’24 Vs. STLY

METROS

JAS’24 Indicating growth potential 83% for TC1 & TC2 towns

KRBL WEIGHTED DISTRIBUTION*

(VS. 53% KRBL overall TT)

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Leading to significant Market share growth for KRBL

EXPANDING DISTRIBUTION IN TC1 & TC2 TOWNS

# OF

DISTRIBUTORS

850+

1000

*Source: As per Nielsen’s Sept’24 & JAS’24 RMS data | SAH – Share amongst Handlers & PDO – Per Dealer Offtake

Current

Projected for the next 1 year

DEMOCRATIZING DISTRIBUTION

MT + E-COMM SALIENCE

3.

GROWING SALIENCE FOR MODERN TRADE & E-COMM

Within Domestic KRBL Business*

(+500 bps) in the last 2 years

~30%

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With clear focus on

DRIVING BRAND PREFERENCE

& commanding a HIGHER SHARE OF VOICE on the platforms

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© 2024 KRBL All Rights Reserved

*Source: Internal Volumes

Strategic pillars

Domestic

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Democratizing Remodeling Our Distribution Our Supply Chain Network Investing Foraying into In the Brand New Products & Categories

© 2024 KRBL All Rights Reserved

REMODELING OUR SUPPLY CHAIN

A transformative shift in our SCM, supporting Distribution democratization measures

GENERAL TRADE

Going Deeper with Distribution Establishing direct distribution in noncovered / underpenetrated towns

MT & E-COMM

Driving Servicing & Cost Efficiency

1.

ENSURING WIDER & DEEPER SUPPLY WITH EXISTING 13 C&Fs & 9 SS[#]

2. A STEP TOWARDS A ROBUST & HEALTHIER GTM PRACTICE

MOVING TOWARDS FOR* MODEL

ENABLING COST OPTIMIZATION

STRONGER GOVERNANCE ON GTM

BETTER SERVICEABILITY

SAFEGUARDING AGAINST INFILTRATION

*FOR means “Free on road” delivery terms # SS means super stockist

© 2024 KRBL All Rights Reserved

Strategic pillars

Domestic

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Democratizing Our Distribution Network

Remodeling Our Distribution Our Supply Chain Network Investing Foraying into In the Brand New Products & Categories

© 2024 KRBL All Rights Reserved

INVESTING IN THE BRAND

Making Brand India Gate, Multi-dimensional and future-forward

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25 YEARS STRONG Over a period of TIME With sustained EFFORTS & Consistent INVESTMENT

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STRONGEST
BRAND EQUITY
HIGHEST
TOP OF MIND RECALL
# 1 ADVERTISER
67% SOV in Basmati Category
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Will continue BUILDING CONTINUED EFFORTS in BRAND EQUITY to lead to

BUSINESS PACKAGED GROWTH & CATEGORY GROWTH

*Source: As per Brand Health Track – Ipsos conducted every year amongst Basmati Consumers || ** As per Media reports

INVESTING IN THE BRAND

EFFORTS THIS QUARTER...

GRAINS OF HOPE

PRINT | RADIO | DIGITAL | ON-GROUND | ADVOCACY

India Gate’s initiative to combat hunger , empowering consumers to actively participate in making a meaningful impact, activated this Independence day, using a multi-media approach

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© 2024 KRBL All Rights Reserved
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INVESTING IN THE BRAND

EFFORTS THIS QUARTER...

CLASSIC BANDHAN - RAKSHABANDHAN

DIGITAL | MEGA & MICRO CREATORS

India Gate’s ‘Rakshabandhan’ campaign, highlighting and cherishing the bond and classic moments between siblings

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VISHNU GOVIND JAMIE & JESSE
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SHIBANI & SHRISTI
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© 2024 KRBL All Rights Reserved

Strategic pillars

Domestic

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Democratizing Remodeling Our Distribution Our Supply Chain Network Investing Foraying In the Brand Into New Products & Categories

Democratizing Our Distribution Network

© 2024 KRBL All Rights Reserved

FORAYING INTO NEW PRODUCTS & CATEGORIES

WITH THE VISION OF STRETCHING THE BRAND FURTHER…

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…GUIDED BY THE CORE PRINCIPLES of,

HEALTHY CATEGORY GROWTHS HIGHER MARGIN PROFILES

ADJACENT CATEGORIES STRETCH WITHIN STAPLES

© 2024 KRBL All Rights Reserved

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Export
Business
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© 2024 KRBL All Rights Reserved
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Leadership Beyond India

Revenue in Rs. 252 Cr For Q2 FY25*

Revenue growth 7 % Y-o-Y

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Trend in Export Business
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Branded export sales grew Both volume & realisation grew in on y-o-y basis. Q2 FY25.

All figures in Rs . crore and are based on consolidated financials

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© 2024 KRBL All Rights Reserved

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Positive trends for Rice export from India

Global markets offer exciting opportunities for KRBL to drive growth

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Basmati rice exports from
India for FY24 Volume - (%)
2%
4%
6%
6%
7%
75%
Middle East Europe North America Africa Asia Others
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• High yielding varieties boost national surplus

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Production

• Farming tech adoption drives produce growth

• Basmati quality focus boosts global demand

• Export India is the #1 exporter of rice, holds 85% Leader of basmati market exports and expects to further rise. 15% volume growth in FY24

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• Growing US demand for PUSA basmati,

• Indian commercialized by KRBL

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Presence

• Indian diaspora abroad fuels rice popularity

• Globally as both staple and premium restaurant item

• Excellent quality standards have spurred increase in

• Demand the demand for Indian basmati rice amongst locals

from

• Middle east accounts for nearly 3/4[th] India’s basmati

• Middle East exports.

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© 2024 KRBL All Rights Reserved

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Strategy
Export
Direct Marketing
- Penetration to locals with Arabic TVC in mainstream channels
-Targeting geo-location customers through social media
-Increasing focus on India Gate HORECA line up to target HORECA
customers
Direct
Marketing
Channel Deepening
& Diversification
Existing New / Seeded Channel
Expansion
Markets Markets
Acquisition of
“Adjacent” Basmati
Consumer
Launch of economy
New Products
variants / small packs to
drive penetration
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Channel Deepening & Diversification

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Contact Us

Safe Harbor

This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to KRBL Limited and its affiliated companies (“KRBL”) future business developments and economic performance.

While these forward-looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

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Investor Relations Desk

KRBL Ltd. Tel: +91‐120‐ 4060 300 Email: investor@krblindia.com

These factors include, but are not limited to, general market, macro‐economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.

KRBL undertakes no obligation to periodically revise any forward-looking statements to reflect future/ likely events or circumstances.

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© 2024 KRBL All Rights Reserved

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Thank You

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© 2024 KRBL All Rights Reserved