#1adani wilmar For a healthy growing nation fortune edible oils and foods Adani Wilmar Limited: Investor Presentation - Q4FY23 May 3, 2023#2Safe Harbour Statement This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as 'expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should' and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof. adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q4FY23#3Macro Context fortune® adani™ wilmar fortunefoods.com new maida refined wheat flour made from high quality MP wheat Net Weight 500 g fortune fortunefoods.com fortune new suji semolina new pack chakki fresh atta natural taste natural aroma natural fibre 100ätta O'maida Net Weight 1kg made from high quality MP wheat fortune fortunefoods.com fortunefoods.com Net Weight 500 g new rawa semolina made from high quality MP wheat Net Weight 500 g Earnings Presentation - Q4FY23#4Raw material prices have softened Edible oil Prices $2,200 2100 1850 $1,900 1800 1770 $1,600 In USD per Ton Palm Soya Sun 1500 1360 1335 1280 1292 23 1224 23 $1,300 1370 111953 $1,000 26 Wheat Prices 29 29 29 28 27 27 In INR per KG 24 23 1050 1030 1004 1014 1021 970 $700 830 Mar 22 Jun 22 Sept 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Mar 22 Jun 22 Sept 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Paddy Prices (Basmati) 53 53 49 49 44 43 43 In INR per KG Food Inflation 8.6% 7.7% 7.8% 7.0% 50 50 4.7% 4.2% YoY % 5.9% 6.0% 4.8% Mar 22 Jun 22 Sept 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 Mar 22 Jun 22 Sept 22 Oct 22 Nov 22 Dec 22 Jan 23 Feb 23 Mar 23 adani wilmar For a healthy growing nation fortune® edible oils and foods Inflation cool off may lead to better consumption uptick Source: Internal estimates/market prices Earnings Presentation - Q4FY23#5Result Highlights adani™ wilmar fortunefoods.com fortune new chana sattu instant refreshment high Protein Net Weight 500g fortune new pack besan 25+ quality test passed product 100% chana dal Fortune® new chana dal fortunefoods.com Net Weight 500 g fortunefoods.com Net Weight 500 g fortune® new masoor dal whole nutri lock unpolished dal Ofein Pow fortune fortunefoods.com fortunefoods.com Net Weight 500 9 nutri lock Unpolished dal ein pow new arhar dal toor dal 15+ quality Protel tests passed 3 Shakt Net Weight 1kg Earnings Presentation - Q4FY23#6Result Highlights – Q4 FY23 fortune® edible oils and foods Consolidated Revenue Volume (MMT) Gross Profit EBITDA PBT PAT -7% -1% 15% -16% 14,917 1,461 1,439 13,873 1.5 -57% 1.3 426 359 298 -60% 234 129 94 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 Standalone Revenue Volume (MMT) Gross Profit EBITDA PBT PAT -8% 14,230 13,122 1.2 -3% 17% -18% 1,395 1,355 -56% 1.4 414 339 299 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 Q4'22 Q4'23 adani wilmar fortune edible oils and foods For a healthy growing nation -56% 223 98 132 Q4'22 Q4'23 Q4'22 Q4'23 Profitability impacted by higher operating cost & finance cost All figures in INR Crores, except volumes Earnings Presentation - Q4FY23#7Result Highlights - FY23 fortune edible oils and foods Consolidated PBT -25% 1,661 1,059 Revenue 7% Volume (MMT) Gross Profit EBITDA 14% 58,185 54,155 6.0 4.8 5.5 5,383 11% -4% 6,002 1,736 5.0 4.0 3.0 2.0 1.0 FY22 FY23 FY22 FY23 FY22 FY23 Standalone Revenue 6% Volume (MMT) Gross Profit EBITDA 10% 13% -6% 52,302 55,262 5.2 5,720 4.6 5,211 1,725 FY22 FY23 FY22 FY23 adani wilmar For a healthy growing nation fortune® edible oils and foods FY22 FY23 PAT -28% 804 582 789 FY22 FY23 FY22 FY23 FY22 FY23 PBT -24% 1,084 1,616 FY22 FY23 PAT -25% 808 825 607 FY22 FY23 FY22 FY23 Profitability impacted by higher operating cost & finance cost All figures in INR Crores, except volumes Earnings Presentation - Q4FY23#8Company Performance - by Business Q4 FY23 Volumes (in MMT) Revenues (INR in Crores) YoY Growth % Mix % -Q4FY23 Segment Q4'23 Q4'22 Q4'23 Q4'22 Volume Value Volume Value Edible Oils 0.9 0.9 10,790 12,372 0% -13% 59% 78% Food & FMCG 0.3 0.2 1,159 757 38% 53% 17% 8% Industry Essentials 0.4 0.2 1,924 1,788 55% 8% 24% 14% Total 1.5 1.3 13,873 14,917 15% -7% 100% 100% FY23 Volumes (in MMT) Revenues (INR in Crores) YoY Growth % Mix % -FY23 Segment FY23 FY22 FY23 FY22 Volume Value Volume Value Edible Oils 3.4 3.3 46,104 45,342 3% 2% 61% 79% Food & FMCG 0.9 0.6 4,053 2,621 39% 55% 16% 7% Industry Essentials 1.2 0.9 8,028 6,192 34% 30% 23% 14% Total 5.5 4.8 58,185 54,155 14% 7% 100% 100% Segment Results INR in Crores Q4 FY23 Q4FY22 YoY % Edible Oils 76 394 -81% Food & FMCG 17 -2 Industry Essentials 44 2 Total 136 394 -66% adani wilmar For a healthy growing nation fortune edible oils and foods FY23 FY22 YoY % Mix - FY23 440 973 -55% 51% 96 -29 11% 323 390 -17% 38% 859 1,334 -36% 100% All figures on consolidated basis Earnings Presentation - Q4 FY23#9Key Highlights of FY '23 In FY '23, Company recorded 14% growth in volume ■ Recorded consolidated revenue of INR 58,185 crores in FY '23 Company crossed 5mn Metric Tonnes of sales during FY'23 Food segment doubled its revenue in 2 years to close the year at ~INR 4,000 cr. ■ Both Wheat flour and Rice businesses crossed INR 1,000 cr. in revenue in FY'23 In edible oil, branded segment, with ~75% saliency, grew by ~8% YoY in FY'23 Kohinoor brand crosses INR 100 crores sales in FY23 (brand was acquired in May 2022) ■ Personal care brand Alife crosses INR 100 Crores sales (75% YoY growth) ■ Alternate channels contributed INR 2,700 Crores in FY23 (23% YoY growth) During the year, Company has more than doubled direct reach of rural towns (13,000+ towns in Mar'23) through sub-stockist model ■ Oleochemicals volume grew by 20% in FY'23 ■ AWL continued to be the highest exporter of castor oil from India in FY'23, with 28.4% market share Received CSR Project of the Year 2022 in India CSR Summit organized by CSR Box and Dalmia Foundation in Nov 2022 ■ In FY'23, Company dispatched around 23% by volume of packaged oils in multi-modal way domestically ■ 3.8% of total volume of packed goods were dispatched in CNG vehicles in FY'23 (This is the first year that Company started incentivizing logistic suppliers to use CNG vehicles) ■ AWL stock has been included in NIFTY Next 50 and NIFTY 100 Indices from 31 March 2023 adani wilmar fortune edible oils and foods For a healthy growing nation Earnings Presentation - Q4FY23#10Q4 Update: Company Fortune O Fortune Fortune Fortune health Ghar ka khana tastes best when cooked with fortune edible oils and foods Fortune sun new chakki fresh atta hudens biryani special basmati besan sugar Process soya chunks (100 15X BOER FOOD PAV BHAJI ▪ Macro context for Q4: In Q4'23, edible prices continue to decline reaching lower levels, leading to uptick in consumer demand. Food prices also cooled off towards the later part of the year. ■ Alternate Channel (E-commerce, Modern Trade, e-B2B serving GT) have been growing at a faster clip and have registered a strong volume growth of ~23% YoY in FY'23, for the combined portfolio of oil & foods. In FY'23, these channels contributed ~INR 2,700 crores of revenue for the Company. Distribution reach: The Company is focusing on bringing more rural towns under direct coverage. For the existing markets, the priority is to increase retail penetration and improvement in sales productivity. ■ AWL stock has been included in NIFTY Next 50 and Nifty 100 Indices from 31 March 2023. Way Forward: Distribution expansion, gaining share in under-indexed markets and margin improvement will be key priority going forward in the consumer pack segment in both Edible Oil and Food segments. The Company sees large opportunity in the HoReCa, institutional segment and exports as well and working on plans to exploit those opportunities. adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q4FY23#11adani wilmar For a healthy growing nation fortune edible oils and foods Reasons impacting Q4 profitability Ghar ka khana tastes best when cooked with Fortune edible oils and foods Fortune fortune fortune Fortune biryani special basmati rice besan Sugar soya sulphurdless chunks process O soyo sun health 100 15X PAV BHAJ Mich ■ TRQ disparity led to pressure on our Soyabean oil margins Decline in edible oil prices continued in the quarter as well leading to high-cost inventory, along with the MTM impact in P&L. The impact was restricted to a large extent by the Company's robust risk management processes ▪ Inflation on costs: Impact of inflation on the packaging cost at gross profit level and inflation in logistics, chemicals, and power & fuel costs at the EBITDA level. ▪ Finance cost: Interest expenses went up with the increase in the benchmark rates on the back of hike in the Fed rates Base effect: In the base quarter, Q4'22, the Company got better margins in Sunflower and other soft oils due to the bullishness in market after start of the Ukraine conflict Bangladesh: Wholly owned subsidiary in Bangladesh made a loss of INR 12 cr. in Q4 and INR 63 cr. in FY'23, due to price caps by Government on edible oils, local currency-related issues, and unavailability of counter party for forex hedging. This has resulted in lower consolidated PAT, compared to the standalone PAT Earnings Presentation - Q4FY23#12Q4 Update: Edible Oil & Food (1/2) fortune Fortune kochi ghan Fortune soyo health fortune sun Fortune pert ■ The segment's branded sales volume grew by 4% during the quarter, on the back of good consumer demand due to softened edible oil prices. However, overall oil sales volume was dragged down due to lower demand from the bakery and frying industry. ■ Both Wheat Flour and Rice have been growing well. The Company expects the strong growth to continue in both the products for many years, given the large headroom in the kitchen essential products. adani wilmar For a healthy growing nation fortune edible oils and foods ■ The value-added product in Rice, Kohinoor Hyderabadi Biryani Kit in ready-to-cook category was also launched during the quarter. The initial response has been very good. This product will further increase the household penetration of 'Kohinoor' brand. Earnings Presentation - Q4FY23#13adani wilmar For a healthy growing nation fortune edible oils and foods Q4 Update: Edible Oil & Food (2/2) fortune Fortune kochi ghan Fortune soyo health fortune sun Fortune pert In pulses, the Company launched 9 different varieties of natural dal (legumes), under 'Fortune' brand, which are sortex-cleaned and unpolished. ■ In the personal care category, Soaps & handwash was launched in FY '20 under the brand Alife as a forward integration of our oleo-chemical business. The brand has crossed the INR 100+ Crore mark in revenue in FY23, with ~75% YoY growth, riding on the strong pan-India distribution network of the Company. Earnings Presentation - Q4FY23#14Q4 Update: Industry Essentials Our B2B business of selling industrial products for various industry applications has been gaining market share and made progress in the journey of adding value-added products. ■ Oleochemicals category: ■ The Oleochemicals business has been growing well on the back of new capacity of Oleo commissioned in Q3 FY2021, along with a stable demand Forward integration of the Oleochemical business into specialty chemicals has progressed well during the year and the Company has received approvals for certain products from a few marquee customers ■ With the state-of-art R&D and Application laboratory in Mundra, we are focused on innovation and customer centricity adani wilmar For a healthy growing nation Castor & derivatives category: Despite the decline in export volume of castor oil for the industry, AWL's overall castor business grew in double digits in volume terms in Q4FY23 Castor is a green product with a wider range of industrial applications. With a strong presence in raw material procurement and global market presence, AWL is well placed in Castor business in long term ■ The Company received an award as highest exporter of castor oil from India for the year 2022 during the global castor conference organized by the Solvent Extractor's Association of India in Feb 2023 fortune edible oils and foods Earnings Presentation - Q4FY23#15adani™ wilmar Business Updates new fortune fortunefoods.com best for Indori poha (thick) wwwse ಆವಲಕ್ಕಿ அவல் Super soft Source of Dietary Fibre & Protein Net Weight 500 g Sook for 10 10 minutes before cooking Picture for representation purpose only HYGIENIC PROCESSING MADE FROM SGARH RIC new fortune poha (thick) esewsbev ಅವಲಕ್ಕಿ அவல் Source of Dietary Fibre & Protein 回返回 fortunefoods.com Net Weight 500 g Picture for representation purpose only HYGIENIC PROCESSING Earnings Presentation - Q4FY23#16Dominant leadership in Edible Oils Putting our leadership in Edible Oils into perspective adani wilmar For a healthy growing nation Leading in most of the markets fortune edible oils and foods #1 Leadership across oils Soyabean Dominant Leader MAT 2023 #1 #2 Palm Oil 51% #1 Mustard Oil 19.5% adani wilmar 13.2% 6.4% 5.9% 4.5% #3 Sunflower Oil Market share ~1.5x of the next competitor #1 Ricebran Oil No.1 >50% MS Potential to consolidate No.1 30-50% MS market share, since -50% No.1 < 30% MS Top 2 Groundnut Oil Top 3 < 30% MS share is held by regional brands Top 5 < 30% MS Top 5 Cottonseed Oil Source: Nielsen ROCP, IMRB Earnings Presentation - Q4FY23#17adani wilmar For a healthy growing nation Gaining market share in wheat flour & basmati rice #2 Wheat Flour fortune new pock chakki fresh atta fortune chokks tresh otto #3 fortune® Rice new pock biryani special basmati rice Kohinoor TRADITIONAL AUTHENTIC BASMATI RICE Net Weight 1 kg Kohinoor BASMATI RICE 7.2% 5.0% 4.7% 6.5% Mar 22 Mar 23 Mar 22 Mar 23 Note: Additionally, Kohinoor had a MS% of 0.7% in MAT Mar 23 fortune Source: Nielsen, MAT March 2023 Earnings Presentation - Q4FY23 edible oils and foods#18adani wilmar For a healthy growing nation fortune edible oils and foods Fortune India's No.1" Cooking o fortune fortune* x edible oils and foods m MasterChef India Branding Activities Masterchef India fortune® was a key sponsor on Season 7 of (M) edible oils and foods fortune is sponsor of edible oils and foods MasterChef India fortune 25-Ex Fortune, Fortune 理 fortune forkin fortune fortune and foods fortune fortune Fortune Fortune fortune fortune fortune fortune fortune fortune Fortune ON Fortune fortune Fortune Fortune fortune fortune fortune fortune fortune fortune 25-Exiry Fortune Sen fortune fortune fortune fortune fortune fortune fortune fortune fortune fortune Fortune 25, Axire Fortune! Fortune ORNIS Fortune fortune 25, Exte fortune Women's Premier League fortune Fortune fortune 3 6 21 MOONE MITHAL DEOL fortune* x WPL edible oils and foods Earnings Presentation - Q4 FY23 GUJARAT GIANTS#19O Marketing: A glimpse at Social Media Campaigns in FY23 *T&C Apply 29 fortune Fortune edible oils and food 38.30 sun ଫର୍ଟୁନ ରଥଯାତ୍ରା ପ୍ରତିଯୋଗିତା ଠ ଫର୍ଟୁନ୍ like Fortune ghani fortune kachi ghani ସଠିକ୍ ଉତ୍ତର ଦେଲେ ଦଶ ଜଣ ଭାଗ୍ୟଶାଳୀ ବିଜେତା ଜିତିବେ *500* ଆମାଜନ୍ ଭାଉର୍ଟର fortune fortune #Health Ka Shree Ganesh wwwwwwwwww *T&C Apply Fortune edible oils and foods HAPPINESS IS Winning free movie tickets for you and your sibling! HAPPY Raksha Bandhan #Fortunate To Have You ગણપતિ બાપ્પા ના આગમન માં, બધાને જોઈએ "મોર-યા" fortune edible oils and foods Yaadon KaTiffin Bmx with Fortune Simple vegetable rolls tasted so much better jab teacher se chup-chup ke khaate the! fortune edible oils and foods Yaadon KaTiffin B x with Fortune Share more such memories of your favourite tiffin box meal in the comments section below & selected winners will get a chance to win bookmyshow Movie Vouchers! fortune edible oils and foods Swaad Ka Dhamaaka with SOUNDS of the KITCHEN adani wilmar For a healthy growing nation Win bookmyshow vouchers! Swipe to know how > Use hashtag #YaadonKa Tiffin Box WithFortune & share your favourite tiffin box meal! fortune edible oils and foods "Last date for entries is 15th August 2022 Fortune fortune Fortune EDELE DE & FOODE Watch how we surprised the jawans of India! ফরচুন, জানায় ขา 177 fortune edile ols and foods এই পুজোয় উপভোগ করুন ঘরে ফেরার মরশুম প্রিয়জন এবং ফরচুন পেট পুজোর সাথে Earnings Presentation - Q4FY23#20Marketing: Campaigns in FY23 TV Campaigns fortune Fortune INDIA'S NO. 1 DIL fortune refined soyabean oil সুস্থ জীবনের জন্যে পর্যাপ্ত বায়ান এবং CMR অনুযায়ী প্রতিটি প্রাপ্তবয় ব্যক্তিকে তেল ও চর্বির মাত্রা নি2ে0 AMAT 08 x 2022 পরমর্শ দেওয়া হল। Other Campaigns KING'S EDIBLE OILS adani wilmar For a healthy growing nation फ़ायदे गिनते रह जाओ adani wilmar For a healthy growing nation ख़ुदा की रहमत आप पर सदा रहे ईद मुबारक fortune edible oils and foods KING'S KING'S KACCHI GHANI PURE MUSTARD OIL SOYABEAN OIL SUNFLOWER From the makers of Fortune Fortune beson alife Chandan ke tatwon se mile aapko SOAP unmatchable kudrati nikhaar alife SOOTHING SANDALWOOD alife Fortur 10000 adani wilmar 100000000000000 Fortune From the makers of Fortune ortune Kohinoor BASMATI આ શુદ્ધ છે. આ ખુશ્બોદાર છે. Kohinoo घर की पहली alife शादी में चंदन के गुणों से रहे #TwachaKhiliKhili alife SOOTHING SANDALWOOD fortune alife Earnings Presentation - Q4FY23#21Company Overview adani™ wilmar fortunefoods.com fortune new chana sattu instant refreshment high Protein Net Weight 500g fortune new pack besan 25+ quality test passed product 100% chana dal Fortune® new chana dal fortunefoods.com Net Weight 500 g fortunefoods.com Net Weight 500 g fortune® new masoor dal whole nutri lock unpolished dal Ofein Pow fortune fortunefoods.com fortunefoods.com Net Weight 500 9 nutri lock Unpolished dal ein pow new arhar dal toor dal 15+ quality Protel tests passed 3 Shakt Net Weight 1kg Earnings Presentation - Q4FY23#22Adani Wilmar Limited at glance One of the largest Food FMCG company in India Fortune soya granules 15X WILFIL fortune Over 2 decades of trust fortune Food & FMCG player offering edible oils and foods kitchen essentials across India e *including leased units adani wilmar fortune edible oils and foods For a healthy growing nation Aadhar Refined Sunflower Oil Raaa Vanaspati KING'S SOYABEAN OIL BULLET Kachi Ghani Mustard Oil Gujarati Khichdi fortune SUPER FOOD Punjabi GKhichdi BESSICE fortune SUPER FOOD Bhog Khichu fortune filtered groundhut fortune xpert Hv fortune Fortune fortune sun lite 100tto O'maida fortune® fortunefoods.com fortune new pack biryani classic world's longest grain premium basmati rice ECTLY fortune அவல் Net Weight 500 g kachi ghani Net Weight S fortune soya health best for Indori poha (thick) Gold fortune cotton lite Raaa Avsar Fryola ALPHA Vanaspati MUFA fortune grounutt activ 03 Tortune arhar dal BESSCHOO E REFINED PALMOLEIN fortune Fortune sugar W300 a fortune soya chunks 15X ULTRACHOCO INR 58,185 Crores Consolidated Operating Revenue in FY23 No. #1 Edible Oil brand No. #2 wheat flour brand No. #3 Basmati brand 113 Million Household 1.6 Million Retail Reach 50+ Manufacturing units* Earnings Presentation - Q4FY23#23Business Segments Products: Edible Oil Sunflower Soyabean Mustard fortune fortune Ricebran Cottonseed Groundnut fortune fortune Brands: fortune adible nile and fonde JUBILEE Masterchef fortune fortune Worthmore fortune fortune Fortune everyday basmall full grain Soya Nuggets Fortune soya chunks KING'S Refined SOYABEAN OIL Raag Brands: fortune Aadhar edible oils and foods Fryola Avsar Vanaspati ALPHA FY23 Revenue: INR 46,104 Crores FY23 Volume: 3.4 Mn MT* Key Value Drivers adani wilmar fortune *MT: Million metric ton edible oils and foods For a healthy growing nation ☐ CHARMINAR Products: Food & FMCG Atta, Suji, Rawa & Maida fortune Fortune chakki fresh atta fortune Rice Kohinoor TRADITIONAL AUTHENTI BASMATI Kohinoor fortune Sugar hypok sugar maida refined wheat four Fortune Fortune rawa semolina Fortune Besan & Pulses Fortune Fortune Poha Kohinoor TROPHY GOLD BASMAT RICE First Choice Wheat Flour (Atta) FY23 Revenue: INR 4,053 Crores FY23 Volume: 0.9 Mn MT arhar dal Industry Essentials Major Products: Soap Noodles suji Stearic Acid Distilled Fatty Acid Glycerine Castor Oil Deoiled Cakes Key applications HPC Pharma Paints & Coatings Agrochemicals Polymers Lubricants alife Petrochemicals Cattle Feed LIVELY LINE Leveraging the existing setup of edible oil business to scale up Food & FMCG Plan for forward integration into value-added downstream products in oleochemical & castor FY23 Revenue: INR 8,028 Crores FY23 Volume: 1.2 Mn MT Earnings Presentation - Q4FY23#24Business Mix & Customer Segments Q4 FY23 Edible Oil Food & FMCG Value Volume FY23 Industry Essentials Value Volume Business Mix 78% 79% 16% 7% 59% 17% 8% 61% Households 24% 14% Customer Segments HoReCa Institutional 23% 14% Exports Emerging Opportunity Branded Branded Products Consumer & Bulk Packs Branded Loose Oil ■ Consumer & Bulk Packs Bulk Pack in Foods Private Label Bulk adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q4FY23#25Presence across the price spectrum adani wilmar For a healthy growing nation fortune edible oils and foods Super Premium Kohinoor Premium fortune Apert fortune TROPHY edible oils and foods GOLD BASMATI RICE adani wilmar KING'S Refined SOYABEAN OIL Popular BULLET Avsar R Golden" Chef ALPHA REFINED PALMOLEIN alife Fryola बेमिसाल फ्राइंग ऑयल First Choice Wheat Flour (Atta) CHARMINAR A healthy mix of premium and popular brands Earnings Presentation - Q4FY23#26Portfolio of scaled up brands Value INR 20,000 Cr + Strong brands built on basis of trust and quality over last 2 decades Brands fortune® edible oils and foods Segment Edible Oil & fats + Food & FMCG adani wilmar R INR 4,000 Cr + Raad KING'S Refined SOYABEAN OIL ~INR 1,000 Cr+ INR 500+ HUPCHAND JUBILEE Masterchef FFryola • बेमिसाल फ्राइंग ऑयल Aadhaar Refined Sunflower Oil INR 100 Cr + Kohinoor ALPHA REFINED PALMOLEIN First Choice Wheat Flour (Atta) Edible Oil Edible Oil & fats + Food & FMCG Edible Oil & fats Avsar BULLET alife Branded portfolio growing steadily * Rupchanda is a brand under BEOL (100% subsidiary of AWL in Bangladesh) Note: Additionally, AWL also has branded sales of INR 1,000 Crores of bakery fats sold under various brands of Wilmar International adani wilmar fortune edible oils and foods For a healthy growing nation Earnings Presentation - Q4FY23#27Leadership Position in our Key Products Edible Oil Food & FMCG #1 Edible oil brand in India #2 in Wheat Flour (atta) #1 Soyabean oil, Mustard & Ricebran oil #2 in Palm oil Industry Essentials #1 Player in Stearic Acid, Glycerine & Soap Noodles #3 in Basmati Rice #1 Castor exporter from India #2 in Soya Nuggets #1 in North, East, West & Central markets Amongst top 2 players in Besan Amongst top 5 in South India adani wilmar For a healthy growing nation #1 in Urban & Rural markets fortune edible oils and foods Consistently gaining market share across key categories Earnings Presentation - Q4FY23#28adani wilmar For a healthy growing nation fortune edible oils and foods fortune kachi ghani Fortune fortune activ Fortune NO Successful brand extension of Fortune soyo sun health nut new pack soya health refined soyabean of 10012031000073 10012031000095 03020001 Fortune new pack soya health efined soyabeat of Fortune 'Edible Oil' brand Fortune sun lite Fortune new pock sun lite efined sunflower fortune sun lite Fortune kochi ghani fortune Fortune: A household name in India Fortune fortune® tunefoods.com Fortune fortune Gujarati Khichdi new pack chakki fresh atta 100to Omaido Net Weight 1kg new pack soya soya chunks ww resp dunk chunks 100% vegetarian 15X S Fortune new PIE sugar sulphurless process fortune new 100% pure & hygienic Sugar sulphurless process Over 2 decades of trust and quality fortune edible oils and foods 'Packaged Foods' brand Fortune new besan fortune® new suji semolina high quality Net Weight 300 g Fortune Soya chunkies AFRICAN minute PERI PERT fortune Fortune arhar dal unpolished dol Fortune new maida refined wheat flour fortune new pack besan 25+ quality test possed product new maida refined wheat flour high quality MP wheat Net Weight 500 g fortune 'Fortune' brand size is INR 20,000+ Crores Earnings Presentation - Q4 FY23 totunefoods.com 100 chana dal fortune® new pack biryani special basmati rice Fortune fortune new pack mogra basmati rice Net Weight 1kg fortunefoods.com Net Weight 5 kg pure & delicious new rawa semolina Nigh quality MP wheat Weight 500 g 100m fortune® soya chunks#29Large Opportunity in Foods Products Opportunity to replicate the Edible Oil playbook in other staple food categories AW L's Share (as % of total volume consumed in India) AW L's Competencies Edible Oil ~14% Fortune Brand Equity Distribution & Retail Reach Wheat < 1% Rice < 1% Pulses & Besan < 1% adani wilmar For a healthy growing nation Sugar fortune edible oils and foods < 1% Efficient Supply Chain Manufacturing Sourcing Earnings Presentation - Q4FY23#30Enhancing GTM capabilities to capture demand & Everyday great execution Improving daily visit calls. Improving productivity of calls. Increase DSM effective coverage ☐ Improved penetration in urban towns. · • Rural Activation & Coverage Expansion Rural town expansion Improved quality of Town Coverage in Rural RURAL Sales Force Automation Geo-tagging of Outlets in all categories Visibility of Rural Coverage: Orders addressed from SFA Route optimization Using tech to determine sales beat, optimizing the daily market route Pilots have demonstrated significant reduction in distance travelled, improving salesman productivity Distributor Segmentation Classification of existing distributors based on their buying patterns and financial parameters • Identify distributors at risk and take corrective actions to retain them adani wilmar fortune edible oils and foods For a healthy growing nation . Outlet Level Insights Identification of similar potential outlets based on purchase patterns Earnings Presentation - Q4FY23#31Efficient supply chain to lower cost and capture demand Least Cost Optimization Plan the dispatch to optimize on various parameters like raw-material prices, logistic costs, plant utilization etc. Digitization Most of the supply chain workflow has been digitized, resulting in paper- less processes, availability of data, visibility of truck movement, faster payments to vendors. Centralized control Digitalization enabled centralized control to drive further data driven efficiency, better monitoring & compliance, benefit of scale in procurement, process improvement, lesser manpower Reverse Auction All the auctions to hire trucks is done through online reverse auction to secure best rates and ensure process integrity adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q4FY23#32Supply Chain - Reduction of carbon footprint in logistics Clean fuel in Logistics 3.8% Dispatch* by CNG vehicle in FY 23 Initiated use of CNG vehicles in FY'23. Vendors are incentivized to used CNG vehicle Earned 22,574 Rail Green points till date, for using Railway for cargo movement रेल • DIAN RAILWAYS CERTIFICATE OF APPRECIATION भारतीय Low emission mode of transport Volume Dispatch in multi-modal way 22% FY '22 23% FY '23 Date: 06-04-2023 This is to certify that M/S ADANI WILMAR LTD. has contributed in reduction of Carbon Emission by opting Rail Transportation over Road for movement of its cargo and earned 22574 RGPs since 01.04.2022. This contribution towards a Clean and Green India is highly appreciated. In multi-modal way, most of the distance is covered by either rail or water transport. Only first & last mile is done through roads. This pertains to packaged oils sold in domestic markets. *This pertains to the volume dispatched of the packaged edible oil and food fortune adani wilmar edible oils and foods For a healthy growing nation Earnings Presentation - Q4FY23#33• adani wilmar For a healthy growing nation fortune edible oils and foods NPD Fortune Net Weight 500 g poha (thick) Poha new fortune Net Weight 500 g Indori poha (thick) dod alife® LOVELY LILY Increasing focus on value added products Ready to Cook Khichdi Soap new fortune® SUPER FOOD Milles PAV BHAJI Khichdi new- Fortune SUPER FOOD Milles MEXICAN SALSA Khichdi Ching Del 20° Kohinoor Biryani Kit 6673 WT Kohinoor HYDERABADI BIRYANI KIT EASY STEP RECIPE Fortune Xpert bolonce uede saf fortune Almost all value-add products are forward-integration of our existing products and leverages our existing distribution network Earnings Presentation - Q4FY23#34AWL's advantage Fast-paced growth at scale Potential for margin improvement Support of 2 strong promoter groups Strong Brand Portfolio adani wilmar For a healthy growing nation fortune edible oils and foods Proven Track record (leadership position or amongst Top-3 in multiple categories) Large distribution network Strong Manufacturing setup Large addressable market Leverage existing setup to scale up new categories Few competitors at national level HoReCa opportunity Frugal operations Earnings Presentation - Q4FY23#35adani™ wilmar new fortune fortunefoods.com ESG 5 soya chunkies MEXICAN minute SALSA Apoal to cook ok in Whistles Serving Suggestion new fortune® fortunefoods.com $5 soya chunkies AFRICAN minute PERI PERI ready to cook Whistles Serving Suggestion new fortune fortunefoods.com 5 soya chunkies CHINESE minute MANCHURIAN eady to cook Whistles Serving Suggestion new Fortune® fortunefoods.com soya chunks steps to use pack soya chunks nutritious fortune soyo chunks Bel Tops Fortre Sa Curs 4 w 100% vegetarian 99% fat free Earnings Presentation - Q4FY23 more protein 15X than milk Serving Suggestion nites De pri Dan the wand the chunks Lat the beaty tee orde#36Fortune SuPoshan: A Mission Against Malnutrition & Anemia fortune Suloshan A CSR initiative by Adani Wilmar Ltd. adan willmur Surashan For a healthy growing nation adani wilmar For a healthy growing nation fortune edible oils and foods Fortune SuPoshan touches life of three Target Groups 0-5 yrs age children Health Adolescent Girls Sufanan Women in Reproductive Age Fortune Su Poshan touches four core areas 2 ZERO HUNGER 555 Education 3 GOOD HEALTH AND WELL-BEING Women Empowerment 5 GENDER EQUALITY Sustainable Livelihood Our commitment towards a "Healthy growing nation" Earnings Presentation - Q4FY23#37Cumulative Coverage till March 2023 Coverage 2 ZERO HUNGER SSS Sr Particulars No 1 Total sites 2 Total Households 30 3,82,655 3 Total population 19,10,530 4 Total under five children 1,45,392 5 Total adolescent girls 1,28,334 6 Total women in reproductive age 3,18,647 Sr No Site Details Number 1 Exit sites (by Mar 23) 16 2 Ongoing sites (Excluding New Sites) 8 3 New sites 3 GOOD HEALTH AND WELL-BEING 5 GENDER EQUALITY 6 Exit sites Ongoing Sites New sites Earnings Presentation - Q4 FY23#38Current Footprint (April 2022 – March 2023) 14 13 20 129 1200 Sites States Districts Slums Villages 2 ZERO HUNGER SSS 550 1,08,132 Sanginis children 3,06,409 Women & girls Touched more than 3 lakh beneficiaries in last one year through various community engagement activities The prevalence of Wasting and SAM have found to be reduced across sites which is align with NFHS 5 survey findings The SuPoshan project expansion at 6 new sites and exit from 6 sites by March 23 Alwar 3 GOOD HEALTH AND WELL-BEING 5 GENDER EQUALITY Varanasi Neemuch Medadraj Vidisha Narmada Nimrani Savner Raipur Krishnapatanam Mangalore Kattupalli 8 0 Haldia 2 Vizhinjam 2 SAM: Severely acute malnutrition; MAM: Moderately acute malnutrition; NFHS: National Family Health Survey; NRC: Nutrition Rehabilitation Centre Ongoing New sites sites Earnings Presentation - Q4FY23#39Progress (April 2022 - March 2023) Sr No Particulars 1 Total under five children screened Total complicated SAM children 2 referred to NRC Achievement FY 2022-23 1,00,000+ 1204 2 ZERO HUNGER 3 GOOD HEALTH AND WELL-BEING 5 GENDER EQUALITY O Community Events 3578 3 Total children shifted from SAM to MAM 12245 4 Total children converted from Acute Malnutrition to Healthy 27181 Received CSR Project of the Year 2022 in India CSR Summit organized by CSR Box and Dalmia Foundation in Nov 2022 Cooking demo 6211 Family Counselling 87662 SuPoshan Key project Activities Poshan Shivir 800 Focus Group Discussion 94999 POSHAN Vatika 6000+ Earnings Presentation - Q4FY23 SAM: Severely acute malnutrition; MAM: Moderately acute malnutrition; NFHS: National Family Health Survey; NRC: Nutrition Rehabilitation Centre#40Poshan Shivir Poshan Shivir Beetroot paratha with sprouted moong & chana 2 ZERO HUNGER SSS 3 1312 GOOD HEALTH AND WELL-BEING 5 GENDER EQUALITY W O Earnings Presentation - Q4FY23#41M 21 20 ONYH side cel મ adani 11 LS 16 SESAT WO Co Earning esentation-04FY2#42Environment, Social & Governance Green Energy Successful solar power implementation at 7 plants out of 23 own units. Plan to continue such installation across all plants over the years Promoting alternative source of power Sustainable Palm Oil Adani Wilmar is amongst the early adopters of Sustainable Palm Oil Traceability: Over 90% of palm oil Traceable upto Mills of December 2022 Water Conservation Zero Liquid Discharge installed at 9 major plants (2900 KL per day) ZLD ensures reuse of water recovery & Efforts towards reducing water waste fortune Refuse Or ReUse Certified: All An initiative by Adani Wilmar Ltd. RSPO RSPO certified plants are Spearheading sustainability in Edible oils in India Plastics Recyclable Packaging First Edible Oil Company to introduce recyclable packaging 98% of packaging is recyclable Committed to environmental sustainability Earnings Presentation - Q4FY23#43adani™ wilmar 5. Annexure new fortune fortunefoods.com 5 soya chunkies MEXICAN minute SALSA Apoal to cook ok in Whistles Serving Suggestion new fortune® fortunefoods.com $5 soya chunkies AFRICAN minute PERI PERI ready to cook Whistles Serving Suggestion new fortune fortunefoods.com 5 soya chunkies CHINESE minute MANCHURIAN eady to cook Whistles Serving Suggestion new Fortune® fortunefoods.com soya chunks steps to use pack soya chunks nutritious fortune soyo chunks Bel Tops Fortre Sa Curs 4 w 100% vegetarian 99% fat free Earnings Presentation - Q4FY23 more protein 15X than milk Serving Suggestion nites De pri Dan the wand the chunks Lat the beaty tee orde#44Consolidated Results: Q4FY23 & FY23 I I I INR in Crores Q4FY23 Q3FY23 Q4FY22 QoQ % YoY % FY23 FY22 FY21 YoY % I 1% 16% Volume (in LMT) 14.9 14.7 12.9 I I 54.7 48.0 44.8 14% I T I I I I I -10% I -7% 7% Revenue 13,873 15,438 14,917 58,185 54,155 37,090 I I I I -9% I -8% 7% COGS 12,433 13,716 13,457 I 52,183 48,771 32,490 I I I -16% -1% I 11% Gross Profit 1,439 1,722 1,461 I 6,002 5,383 4,601 I I I 16% I -22% I 0% Emp expense 107 92 138 I I 394 392 322 I I I -5% I 9% I 21% Other expense 973 1,025 897 3,947 3,255 2,954 -9% I -6% 8% Total Expense 13,816 15,176 14,682 57,657 53,268 36,439 I I I -41% I -16% T -4% EBITDA 359 605 426 I I 1,661 1,736 1,325 I I T I I 1% 10% 16% D&A 92 91 83 358 309 268 I -48% I -22% -9% Operating Profit 267 514 342 1,302 1,427 1,058 I -7% I 16% I 52% Other Income 72 78 63 261 172 104 -17% 97% 43% Interest expense 210 252 107 775 541 407 I -62% I -57% -25% PBT 129 340 298 I T 789 1,059 755 T I I I -66% | -53% I -17% Tax 37 108 79 I I 235 284 103 I I I -60% I -58% I -29% PAT before JV Share 92 231 219 I I 554 774 652 I I -92% I -92% I -3% Share of JV/Associates 1 15 15 I 29 29 77 T I -62% I -60% -28% - PAT Consolidated 94 246 234 582 804 729 adani wilmar For a healthy growing nation fortune edible oils and foods Earnings Presentation - Q4FY23#45Standalone Results: Q4FY23 & FY23 I I I INR in Crores Q4FY23 Q3FY23 Q4FY22 QoQ % I YoY % FY23 FY22 FY21 YoY % I I T T 1 T T 0% 16% T 13% Volume (in LMT) 14.2 14.2 12.2 I I 52.3 46.1 44.6 I I I I I T I I I I I I I -11% I -8% I 6% Revenue 13,122 14,714 14,230 I I I 55,262 52,302 37,090 I I I I I I -10% I -8% I 5% COGS 11,767 13,031 12,835 I 49,543 47,091 32,490 T I I -19% T -3% I 10% I Gross Profit 1,355 1,683 1,395 I 5,720 5,211 4,601 I I I T I 14% T -24% -4% Emp expense 94 83 124 I 343 358 321 I I I -6% 8% 20% Other expense 922 978 857 3,760 3,129 2,952 T I -9% -7% 6% I Total Expense 13,061 14,409 13,992 54,694 51,387 36,437 I I -45% I -18% I -6% EBITDA 339 623 414 1,616 1,725 1,327 I I I I 0% 8% 12% D&A 81 81 75 319 285 268 I I I -52% T -24% -10% I Operating Profit 258 542 339 I I 1,297 1,441 1,060 I I I I T -6% I 17% I 52% Other Income 71 76 61 I 257 169 104 T I I -17% I 95% I 39% Interest expense 197 237 101 729 525 406 I -65% I -56% -24% PBT 132 381 299 825 T 1,084 757 I I I -67% -54% -21% Tax 35 104 76 I 217 276 103 I I I I -65% -56% I I -25% I PAT 98 277 223 I 607 808 655 I adani wilmar fortune edible oils and foods For a healthy growing nation Earnings Presentation - Q4FY23#46adani wilmar For a healthy growing nation #uknamat fortune edible oils and foods Earnings Presentation - Q4FY23#47Legal Disclaimer The information contained in this presentation is provided by Adani Wilmar Limited (together with its subsidiaries, the "Company" or "AWL") to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely for your information and your use, and may not be retained by you or copied, reproduced or redistributed to any other person in any manner nor any part thereof may be (i) used or relied upon by any other party or for any other purpose; (ii) copied, photocopied, duplicated or otherwise reproduced in any form or by any means; or (iii) re-circulated, redistributed, passed on, published in any media, website or otherwise disseminated, to any other person, in any form or manner, in part or as a whole, without the prior written consent of the Company. Any unauthorized use, disclosure or public dissemination of information contained herein is prohibited. This presentation does not purport to be a complete description of the markets' conditions or developments referred to in the material. 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This presentation contains translations of certain Rupees amounts into U.S. dollar amounts at specified rates solely for the convenience of the reader. adani wilmar fortune Investor Relations: MR. PULKIT MITTAL Investor Relations Head Pulkit. [email protected] +91 79 2645 9100 MR. ABHIK DAS Lead Investor Relations [email protected] +91 79 2645 8774 Earnings Presentation - Q4FY23 edible oils and foods For a healthy growing nation