#1Vidhi Specialty Food Ingredients Limited. Office: E/27/28/29, Commerce Centre, 78, Tardeo Road, Mumbai - 400034, India. Tel:+91 22 6140 6666 Fax: +91 22 2352 1980 Factory: 59/B & 68, M.I.D.C. Dhatav, Roha Dist Raigad, Maharashtra - 402116,India. E-mail: [email protected] Web: www.vidhifoodcolour.com CIN L24110MH1994PLC076156 Date: May 13, 2022 To, The Manager, Department of Corporate Services (DCS-Listing) BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Scrip Code: 531717 Dear Sir(s), The Manager, Listing Compliance National Stock Exchange of India Ltd. Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Symbol: VIDHIING Ref.: Company Code: BSE - 531717, NSE Symbol: VIDHIING Sub: Investor Presentation on the Audited Financial Results for the quarter and financial year ended March 31, 2022 In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, our Company has announced its Audited Financial Results (Standalone and Consolidated) for the quarter and financial year ended March 31, 2022, on May 12, 2022. Enclosed herewith is the Investor Presentation on the Audited Financial Results for the quarter and financial year ended March 31, 2022. Kindly take the same on your record and display on your website. Thanking you, For Vidhi Specialty Food Ingredients Limited, нашу Mitesh D. Manek CFO Place: Mumbai Encl.: As above. Food ngredients Limited VIDHI Mumbai ΚΥΡΙΛ Vi VIDHI COLOURS You Can Trust For Your Food#2VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Vidhi Specialty Food Ingredients Limited COLOURS You Can Trust For Your Food Investor Presentation - May 2022#3Safe Harbor VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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#4VIDHI Financial Performance SPECIALTY FOOD INGREDIENTS LIMITED.#5Q4 & FY22 Performance Highlights Q4 FY22 (Y-0-Y) FY22 (Y-O-Y) Revenue Revenue 48% 102% 145 Crs 537.1 Crs EBITDA 14% 19.2 Crs EBITDA 84.6 Crs 61% PAT 13.8 Crs COLOURS You Can Trust For Your Food PAT 16% 60% 58.6 Crs Update on Capacity Expansion VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Phase I Dahej SEZ (360 MT) Construction activity in full swing. Installation of some machinery going on simultaneously. + Phase II Roha MIDC (Arjun Foods*) (350 MT) Applied for Environmental clearance *Arjun Foods, a wholly owned subsidiary of Vidhi Specialty Food Ingredients Ltd. 4#6Q4 & FY22 Consolidated Key Highlights 97.8 Revenue (Rs. in Crs) 48% 145.0 266.4 +102% 537.1 16.8 14% EBIDTA (Rs. in Crs) 19.2 52.4 +61% 84.6 11.9 16% PAT (Rs. in Crs) 13.8 36.6 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. +60% 58.6 Q4FY21 Q4FY22 FY21 FY22 Q4FY21 Q4FY22 FY21 FY22 Q4FY21 Q4FY22 FY21 FY22 COLOURS You Can Trust For Your Food 5#7Q4 & FY22 Consolidated Profit & Loss Statement VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Particulars (Rs in Crs) - Consolidated Revenue from Operations Total Expenses Q4 FY22 Q4 FY21 Y-o-Y Q3 FY22 Q-o-Q FY22 FY21 145 97.8 48.3% 160.9 -9.9% 537.1 266.4 Y-O-Y 101.6% 110.9 68.2 120.8 398.1 172.9 Gross Profit GP % Employee Benefits Expense Other Expenses EBITDA 34.01 29.6 14.9% 40.1 -15.2% 139.0 93.6 48.6% 23.5% 30.3% 24.9% 25.9% 35.1% 2.4 2.4 2.37 9.5 7.8 12.4 10.4 12.6 44.9 33.3 19.2 16.8 14.5% 25.1 -23.5% 84.6 52.5 61.5% EBITDA % 13.3% 17.2% 15.6% 15.8% 19.7% Other Income 0.9 0.6 0.02 1.4 1.6 Depreciation and Amortisation Expense 0.8 0.8 0.8 3.1 2.9 EBIT 19.4 16.6 16.8% 24.3 -20.4% 82.9 51.2 62.2% EBIT % 13.4% 16.9% 15.1% 15.4% Finance Costs 1.2 0.4 1.5 3.9 1.6 PBT 18.2 16.2 22.8 79.0 49.6 Total Tax Expense Profit for the year PAT % Other Comprehensive Income Total Comprehensive Income 4.4 4.3 5.8 20.4 13.0 13.8 11.9 15.9% 16.9 -18.4% 58.6 36.6 60.1% 9.5% 12.1% 10.5% 10.9% 13.7% 0.0 0.21 0.0 0.1 0.0 13.7 12.1 13.2% 17.0 -18.9% 58.5 36.6 59.8% EPS 2.78 2.42 3.4 11.75 7.33 COLOURS You Can Trust For Your Food 6#8Consolidated Balance Sheet VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Particulars (Rs in Crs) Equity Share Capital Mar-22 Mar-21 Particulars (Rs in Crs) Mar-22 Mar-21 5.0 5.0 Property, Plant and Equipment 35.7 26.8 Other Equity 211.9 156.3 Capital Work-in-progress 37.2 8.4 Total Equity 216.9 161.3 Right to Use 3.2 3.2 Financial Liabilities Other Intangible Assets 7.6 7.7 (i) Borrowings 16 1.9 Other Non Current Assets 0.1 0.3 Provisions 0.6 0.6 Total Non-Current Assets 83.8 46.4 Deferred Tax Liabilities (Net) 2.6 1.8 Inventories 72.6 39.9 Total Non-Current Liabilities 19.2 4.3 Financial Assets Financial Liabilities (i) Trade Receivable 150.1 94.6 (i) Borrowings 73.5 28.2 (ii) Cash and Cash Equivalents 1.0 4.0 (ii) Trade payables 36.7 27.3 (iii) Other Bank Balances 0.5 6.6 (iii) Other Financial Liabilities 1.7 1.7 (iv) Loans 0.8 0.8 Provisions 0 0.1 (v) Other Current Financial Assets 11.3 9.2 Current Tax Liabilities (Net) 0 1.5 Current Tax assets (Net) 0.4 0 Other Current Liabilities 3.4 1.2 Other Current Assets 31 24.0 Total Current Liabilities 115.6 60.0 Total Current Assets 267.8 179.2 Total Equities & Liabilities 351.7 225.6 Total Assets 351.7 225.6 COLOURS You Can Trust For Your Food 7#9Consolidated Abridged Cash Flow Statement Cash Flow Statement VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Mar-22 Mar-21 Cash Flow from Operating Activities Profit before Tax 78.9 49.6 Adjustment for Non-Operating Items 6.74 4.8 Operating Profit before Working Capital Changes 85.7 54.3 Changes in Working Capital -85.6 -30.6 Cash Generated from Operations 0.04 23.7 Less: Direct Taxes paid -21.5 -12.5 Net Cash from Operating Activities -21.4 11.2 Cash Flow from Investing Activities -40.2 -2.8 Cash Flow from Financing Activities Net increase (decrease) in Cash & Cash equivalent 52.5 -7.9 -9.1 0.5 Cash & Cash Equivalents at the beginning of the period Cash & Cash equivalents at the end of the period 10.3 9.8 1.19 10.3 COLOURS You Can Trust For Your Food 8#10Consolidated Operating Performance Revenue from Operations (Rs. in Crs) +26.1% 266.4 212.6 228.4 224.6 537.1 EBIDTA (Rs. in Crs) +28.0% 50.4 52.5 46.1 31.5 84.6 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Profit before Tax (Rs. in Crs) +34.0% 49.6 45.2 40.8 24.5 79.0 Profit after Tax (Rs. in Crs) +30.0% 44.8 36.6 33.9 29.1 15.7 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 COLOURS You Can Trust For Your Food VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 6#11Consolidated Historical Profit & Loss Statement VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. CAGR (FY18- Particulars (Rs in Crs) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 FY22) Revenue from Operations 537.1 266.4 224.6 228.4 212.6 26.1% Total Expenses 398.1 172.9 133.5 145.3 144.9 Gross Profit 139.0 93.6 91.2 83.0 67.6 19.7% GP % 25.9% 35.1% 40.6% 36.4% 31.8% Employee Benefits Expense 9.5 7.8 7.3 6.7 5.3 Other Expenses 44.9 33.3 33.4 30.2 30.8 EBITDA 84.6 52.5 50.4 46.1 31.5 28.0% EBITDA % 15.8% 19.7% 22.5% 20.2% 14.8% Other Income 1.4 1.6 0.6 0.6 0.4 Depreciation and Amortisation Expense 3.1 2.9 3.0 2.4 2.5 EBIT 82.9 51.2 48.1 44.3 29.4 Finance Costs 3.9 1.6 2.9 3.4 4.9 PBT 79.0 49.6 45.2 40.8 24.5 Total Tax Expense Profit for the year 20.4 13.0 11.3 11.8 8.8 58.6 36.6 33.9 29.1 15.7 30.0% PAT % EPS 10.9% 13.7% 15.1% 12.7% 7.4% 11.75 7.33 6.79 5.82 3.15 COLOURS You Can Trust For Your Food 10#12Consolidated Historical Balance Sheet VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Particulars (Rs in Crs) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Particulars (Rs in Crs) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Equity Share Capital 5 5.0 5 5.0 5.0 Property, Plant and Equipment 35.7 26.8 40.2 30.8 29.3 Other Equity 211.9 156.3 123.7 96.0 72.0 Capital Work-in-progress 37.2 8.4 5.5 0.1 Total Equity 216.9 161.3 128.7 101.0 77.0 Right to Use 3.2 3.2 Financial Liabilities Other Intangible Assets 7.6 7.7 (i) Borrowings 16 1.9 1.3 2.8 4.3 Other Non Current Assets 0.1 0.3 0.2 0.2 0.3 Provisions 0.5 0.6 0.5 0.3 Total Non-Current Assets 83.8 46.4 45.9 31.1 29.6 Deferred Tax Liabilities (Net) 2.6 1.8 2.1 2.6 2.8 Inventories 72.6 39.9 34.2 35.3 34.6 Total Non-Current Liabilities 19.2 4.3 3.9 5.7 7.2 Financial Assets Financial Liabilities (i) Trade Receivable 150.1 94.6 77 61.9 59.1 (i) Borrowings 73.5 28.2 31 39.4 37.8 (ii) Cash and Cash Equivalents 1.0 4.0 7.1 18.1 7.7 (ii) Lease Liabilities 0.0 0.0 0 0.0 0.0 (iii) Other Bank Balances 0.5 6.6 7.7 0.4 0.5 (iii) Trade payables 36.7 27.3 17.9 18.3 27.7 (iv) Loans 0.8 0.8 0.4 0.3 0.3 (iv) Other Financial Liabilities 1.7 1.7 3.2 2.8 3.9 (v) Other Current Financial Assets 11.3 9.2 0.9 1.0 1.1 Provisions 0 0.1 0.1 0.1 0.1 Current Tax Liabilities (Net) 0 1.5 0.7 0.6 0.9 Current Tax assets (Net) 0.4 Other Current Liabilities 3.4 1.2 1.4 1.7 0.6 Other Current Assets 31 24.0 13.7 21.4 22.4 Total Current Liabilities 115.6 60.0 54.3 62.8 71.1 Total Current Assets 267.8 179.2 141.0 138.4 125.7 Total Equities & Liabilities 351.7 225.6 186.9 169.5 155.2 Total Assets 351.7 225.6 186.9 169.5 155.2 COLOURS You Can Trust For Your Food 11#13Consolidated Abridged Cash Flow Statement Cash Flow Statement Cash Flow from Operating Activities Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Profit before Tax 78.9 49.6 45.2 40.9 24.5 Adjustment for Non-Operating Items 6.7 4.8 6.1 5.3 7.1 Operating Profit before Working Capital Changes 85.7 54.3 51.3 46.2 31.6 Changes in Working Capital -85.7 -30.6 -12.0 -12.4 10.2 Cash Generated from Operations 0.04 23.7 39.3 33.8 41.8 Less: Direct Taxes paid -21.5 -12.5 -11.6 -11.7 -8.6 Net Cash from Operating Activities -21.4 11.2 27.7 22.1 33.2 Cash Flow from Investing Activities Cash Flow from Financing Activities -40.2 -2.8 -12.1 -3.5 -1.5 52.5 -7.9 -24.1 -8.2 -28.8 Net increase/ (decrease) in Cash & Cash equivalent -9.1 0.5 -8.4 10.3 2.9 Cash & Cash Equivalents at the beginning of the period Cash & Cash equivalents at the end of the period 10.3 9.8 18.3 8.2 5.3 1.19 10.3 9.8 18.5 8.2 COLOURS You Can Trust For Your Food VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 12#14Sustainable Return Ratios Rs. In Crs Cash flow from Operations Borrowings and Cash & Cash Equivalents Rs. In Crs. 33.2 27.7 22.1 11.2 Cash & Cash Equivalents Borrowings 42.1 42.2 89.5 32.3 30.0 18.5 14.9 8.2 10.6 Mar-18 Mar-19 Mar-20 Mar-21 -21.5 Mar-22 1.5 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 ROCE (%) 30.9% 29.9% 26.7% 27.0% 24.7% 20.4% ROE (%) 28.8% 0.4 26.4% 27.0% 22.7% VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Cashflow impacted negatively as company has built up inventory considering volatile geopolitical environment. Borrowings are high in FY22 due to ongoing capacity expansion. This will normalise in the coming quarters Net Debt to Equity (x) 0.2 0.1 0.1 0.4 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 Mar-18 Mar-19 Mar-20 Mar-21 Mar-22 *Annualised basis COLOURS You Can Trust For Your Food 13#15୮ Company Overview VIDHI SPECIALTY FOOD INGREDIENTS LIMITED.#16All 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 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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 Colour of the food can influence the perceived flavor COLOURS You Can Trust For Your Food 15#17Huge Industry Potential with Limited Players Industry Potential Food Colour Industry Growth USD Bn +6% CAGR 3.7 5.1 ✓ FY17 FY23E Huge Growth Opportunities: Every year incremental demand of ~Rs. 1,500 to Rs, 1,700 crores is expected to generate globally for Food colours Source: Industry Reports COLOURS You Can Trust For Your Food VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Upsurge in demand for food colors from various end-use industries, including food & beverages, bakery & confectionery, dairy products, meat & poultry, and seafood 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 for improved characteristics ✓ 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 16#18About Vidhi Specialty Food Ingredients 2nd Largest food colour manufacturer in Asia An Institution in Edible Colour Technology Supplying to 80 Countries across 6 continents Existing Capacity of over 3,500 MT p.a. + ~8,500 MT p.a. under expansion Food & Beverages COLOURS You Can Trust For Your Food Diversified End User Industry VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Over 200 active customers Cosmetics Confectionaries Personal Care Pet Foods Pharmaceuticals & Bakery Products Home Care Products 17#19Legacy 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 1994 COLOURS You Can Trust For Your Food 2000 2005 2011 2015 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 2022- 2023 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 18#20Synthetic Food Colours Primary Water Soluble Food Colours Lake Food Colours Blends of Water Soluble Food Colours • • VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. • • 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 FD&C Certified Water Soluble & Lakes Full range of 14 water soluble colours available in Microfine Powder, Fine Plating Grade Powder & Granular Forms 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 Aluminum Lakes Resultant colors are unique in color property and provide a different feel to products . Used where colouring is to be imparted by coating, these are basically Food Grade Pigments Lake Colours are bright, consistent, and useful in industries like snack food, confectioneries, pharmaceuticals, cosmetics, inks, plastic, food containers etc. COLOURS You Can Trust For Your Food D&C Colours Blends Full range of Aluminum Lakes used in Surface Coatings, Capsules, Dry Snacks Food Packaging Material etc., Range of Certified D&C Dyes & Lakes For Drug & Cosmetic Applications We can develop and match any shade as per the customers specifications Others Co-blended Lakes & Granules 19#21Wide Product Range Water Soluble Colours Lakes VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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 FD&C Red 3 Lake FD&C Yellow 6 Sunset Yellow Indigo Carmine Lake Sunset Yellow Lake Brilliant Blue FD&C Yellow 6 Carmoisine Brilliant Blue Lake Carmoisine Lake Chocolate Brown HT Lake FD&C Red 40 FD&C Red 40 Amaranth Chocolate Brown HT Lake Amaranth Lake Green S Lake FD&C Blue 2 FD&C Blue 2 Ponceau 4R Green S Lake Ponceau 4R Lake Black PN Erythrosine Black PN Lake Erythrosine COLOURS You Can Trust For Your Food Lake FD&C Blue 1 FD&C Blue 1 20#22Existing Manufacturing facilities • Our Manufacturing facilities have been audited and found satisfactory by the U.S. FDA VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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 21#23Long runway for growth Metric Tons per Month Capacity Expansion 3x Planned Capacity Expansion in 1 year 250 ~720 ~1,000 325 ト 150 90 55 30 1995 2000 2005 2011 2015 2019 2022/23e 2023e To address the Demand Supply Gap through capacity expansion COLOURS You Can Trust For Your Food VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Pursuing Capacity Expansions In Dahej Sez, Gujarat Phase I ➤ 360 MT Capacity to be installed < < EC clearance received Civil construction commenced Expected timeline: H1FY23 ➤ 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 margin products Terms of reference from MPCB have been received Expected timeline: FY23 Capex ~Rs. 30 crs, to be funded largely from internal accruals 22#24Diversified End-user Market Highly regulated niche market with diversified end-user market COLOURS You Can Trust For Your Food Pharmaceuticals Confectionery & Bakery Food & Beverage • · • Processed Foods Soft/Health Drink • Ice Creams • · Sherbets Jam's & Jellies Juices Chocolaté Fillings • Candies • Toffies • Pastries • Soufflés Syrups • Tablets • Capsules Home Care Personal Care . Cosmetics • • • • Lip Gloss Nail Varnish Mascara Eye Shadow Shampoos Body wash • Hair gel • • Shaving Gels Dish Washers Floor Cleaners • Disinfectants • Sanitizers Pet food & Cattle Feed • Dog food Cat food Cattle/Poultry Feed 23 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED.#25Marquee Customers across Industries 100 Cosmetics Customer & Industry Diversity VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Confectionaries & Bakery Britannia VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Unilever Procter & Gamble Nestle Mars Pepsi Personal/ Home Care Kraft Pfizer Kerry Coca-Cola Sanofi ITC Food & Beverage Cipla Cadila Mondelez + Pharmaceuticals X Pet food, Cattle & Poultry COLOURS You Can Trust For Your Food feed Parle G Rasna Mala's and many more MNC's across the globe 24#26Global Footprint 6% 22% 17% FY22 3% Continent Wise Sales 9% 2% 19% Q4 FY22 20% 51% AFRICA AMERCIAS AUSTRALASIA EUROPE MIDDLE EAST Country Wise Sales (Q4FY22) 18% VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. USA Egypt Mexico Argentina Italy Philippines Spain Germany 32% Brazil TURKEY China Vietnam Indonesia MALTA Australia AFGHANISTAN Iran Rest of the World 5% 3% 50% 3% 2% 4% 9% 5% 2% 1% 3% 0% 2% 2% 4% 3% 2% 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 ~86% and ~ ✓ 78% of the revenues in Q4FY22 & FY22 respectively Top 10 customers contribute ~71% and 70% of the revenues in Q4FY22 & FY22 respectively COLOURS You Can Trust For Your Food 25#27Stringent Regulatory Approvals QUALITY 100% PASSED Synthetic Water Soluble Colours European Commission & JECFA Approved COLOURS You Can Trust For Your Food Aluminum Lakes European Commission & JECFA Approved FD&C Colours U.S. FDA Approved FD&C Lakes U.S. FDA Approved || || || □□ ☑ D&C Colours U.S. FDA Approved Blends European Commission, JECFA & U. S. FDA Approved VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. PASSED Co-Blended Lakes &Co-Blended Granules European Commission, JECFA & U. S. FDA Approved OK APPROVED 26#28Certifications & Regulatory Approvals VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Certificate of Registration This is to Certify That The Food Safety Management System of VIDHI SPECIALTY FOOD INGREDIENTS LIMITED PLOT NO. 5 & 6, MIDC DUATAV, ROHA, DISTRICT RAIGAD, MAHARASHTRA-402116, INDIA. has been assessed and found to conform to the requirements of ISO 22000:2005 for the following scope: MANUFACTURER OF FOOD COLOURS, LAKE COLOURS AND BLENDED COLOURS (Category-K) 19DFF 2nd Serve the 39072021 Certificate of Compliance This is to Certify That The Management System of VIDHI SPECIALTY FOOD INGREDIENTS LIMITED PLATT NO. 5wn & e, MIDC DHATAV, ROHA, DISTRICT RAIGAD MAHARASHTRA 402116, INDIA has been assessed and found to conform to the requirements of HACCP (Hazard analysis and critical control points) for the following scopes MANUFACTURER OF FOOD COLOURS, LAKE COLOURS AND BLENDED COLOURS Certificate No Expiry Celly DIRECTOR Certificate of Registration This is to Certify That The Quality Management System of VIDHI SPECIALTY FOOD INGREDIENTS LIMITED PLOT NO. SWB & A, MIDC DHATAN, ROHA, DISTRICT-RAIGAD MAHARASHTRA 02116, INDIA SYSTEM has been assessed and found to conform to the requirements of ISO 9001:2015 for the following scope: MANUFACTURER OF FOOD COLOURS, LAKE COLOURS AND BLENDED COLOURS INDUFLA 10/2018 2nd New De 1972021 Dep IAF elaci ROHS Certification Pvt. Ltd. DIRECTOR 033-CB-FSMS ROHS Certification Pvt. Ltd. прогон Date 2 Sarve Due 2017-2021 IAF elaci 215-CH-QMS Colla DIRECTOR ROLIS Certification Pvt. Lad ✓ 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 OCI/8.2 FI(23.10.17) OneCert International Private Limited Certificate uumber: OCI/FSSC/R-00014 CERTIFICATE OF COMPLIANCE TIF OneCert KOF-K Kosher Supervision Date: February 1, 2021 יט בשבט תשפ"א Kof-K ID: CN0001905 Certificate ID: 7AH18-LND52 Product Count: 35 NABCB FSMS009 Kosher Certificate - VIDHI SPECIALTY FOOD INGREDIENTS LTD. E/27 COMMERCE CENTRE, 78 TARDEO ROAD MAHARASHTRA, MUMBAI 400 034 INDIA The following product(s) Manufactured By VIDHI SPECIALTY FOOD INGREDIENTS LTD. are certified kosher with the listed restrictions. The Food Safety Management System of Vidhi Speciality Food Ingredients Limited Plot Number 59-B & 68, M.I.D.C. Dhatav, Roba, District- Raigad, State-Maharashtra-402116, India. Has been assessed and determined to comply with the requirement of Food Safety System Certification FSSC 22000 (Version 4.1) Cenification scheme for food safety management systems consisting of the following elements: ISO 22000:2005, ISCVTS 22002-1:2009 and Additional FSSC 22000 requirements (version 4.1). This Certificate is applicable for Scope: Manufacturing & Supply (Domestic & Export) of Edible Food Colors like Azo, Brilliant Blue, Erythrosine & Azo Lake Color. Product Name ALLURA RED E 129 AMARANTHE 123 BLACK PN E 151 BRILLIANT BLUE E 133 CARMOISINE E 122 CHOCOLATE BROWN HT E 155 ERYTHRODINE E 127 FD&C BLUE 1 (BRILLIANT BLUE E 133) Date of Certification Decision: 28 Feb 2019 Certificate Issue Date: 28 Feb 2019 Initial Certification Date: 28 Feb 2019 27 Feb 2022 Category: K Technical Area: TK.2 This certificate Is valld through 03/31/2022 Certificate of Compliance This is to Certify That The Management System of VIDHI SPECIALTY FOOD INGREDIENTS LIMITI PLOT NO. 59/B & 68, MIDC DHATAY, ROHA, DISTRICT RAIGAD MAHARASHTRA - 402116, INDIA. GOOD NUFACTURING MANU GMP QUALITY PRODUCT PRACTICE Status Restriction Parve Symbol not required Parve Symbol not required UKD# KF04054UZUC KF06T1U3AN9 Parve Symbol not required Bymbol not required Parve Symbol not required Parve Symbol not required Parve Symbol not required Parve Symbol not required KFCJ139K8FM KFNGLWMPTPL KFOKLGR18JR KF830IHU76T KFXFH12XY3M KFJKDRKROGF has been assessed and found to conform to the requirement. GMP Good Manufacturing Practice for the following scope: MANUFACTURER OF FOOD COLOURS, LAKE COLOURS AND BLENDED COLOURS Certificate No 20DGHA41 Initial Registration Date : 17/10/2020 Issuance Date 17/10/2020 Date of Expiry : 16/10/2023 FD&C BLUE 2 (INDIGO CARMINE E 132) Parve ymbol not required KFVOG 138 ED 1st Surve Due 17/09/2021 2nd Surve. Duel 17/09/2022 FD&C RED 3 (ERYTHROSINE E 127) Symbol not required FD&C RED 40 (ALLURA RED E 129) Parve Symbol not required KFK3B644G4M KFKIMWDSFWF Parve Symbol not required KFUHBJFOU4B Parys Dymbel not required KPYOSHOONKZ Parve Symbol not required KF9VEJ6PW3D Parve Symbol not required KFSOURCJ41R Certificate Expiry Date: Validity of this contificate i ubject to a villand to be done succesfully or before 172/2020 & 21/2/2021 be case of any delay to Surveillance, your Certyfcate will be aged abject the conditione. In the stance of his certific One International annahy a part oder aw the chos and the only in accordance with frisseroman FD&C YELLOW 5 (TARTRAZINE E 102) FD&C YELLOW (OUNDET YELLOW E 110) GREEN 3 E 142 INDIGO CARMINE E 132 eneCert F Authorised Signatory Director OneCert International Private Limited Stamp OneCert Infocational Manor industrial Area, Mansarovar, Jaipur so020, Rajasthan, india Phone: +4040200, +914239548: Gmail:[email protected] USA Office: OneCert 22 g C Street, Lincoln, NE s, USA Phone +[41400 Well www.oncert.com www.art.com COLOURS You Can Trust For Your Food Buy Bakouty Rabbi Binyamin Berkowitz Rabbinic Administrator To verity or for the most up to date certificate please go to www.koshercertificate.com 201 The Plaza, Teaneck, NJ 07666 | Phone 201.837.0500 | fax 201.837.0126 ikiKosher Disclaimer: This certificate is the private property of KOF-K Kosher Supervision and cannot be reposted without the express permission of KOF-K Kosher Supervision. Page 1 of 3 DIRECTOR ROHS Certification Pvt. Ltd. The Questo vi man of je b Copy of dond 27#29Technology and R&D strength VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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 95% E 園 \ ויו Fully equipped & functional laboratory accredited by The Bureau of Indian Standards forms the core of Quality Control Department Qualified Technical Team 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 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 End User Approach Technical team works closely with the end user, right from the stage of envisioning the product to commercial production and after sales support. Stringent Testing 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 COLOURS You Can Trust For Your Food 28#30Growth Drivers Increasing Global Presence Penetrating the untapped markets & increasing in the wallet share of existing customers Customer Satisfaction Superior customer experience through consistent delivery of quality products 4 COLOURS You Can Trust For Your Food 5 1 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 3 2 Maximum Utilization of Capacity Maximize the capacity utilizations post planned expansion with multiple customers on board Diversify into High Margin Products Continuous R & D to develop highly specialized niche products to enhance revenues & margins VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Automated Manufacturing Processes/ Backward Integration Increase automation to bring operating leverage from existing & new facilities to enhance margins along with backward integration 29#31High 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 users have internal specifications which are often more stringent than the regulations to which they adhere to High Entry Barriers for New Competition . • • 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 approved manufacturers of food grade colours in India • Follow Quality Control Process stringent quality control norms on batch wise before delivery to the customer 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 VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 30#32Key Differentiators Products Large Product Variants Diversified Usages Diversified customers Renowned name in Food Colour Industry Long standing relationships with Large MNC as a customers VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Financial Strength Customer & Geography Expansion Un-leveraged Balance sheet Revenue Visibility Better Profitability COLOURS You Can Trust For Your Food Regulatory VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Highly Regulated Market Consistency is a Key Long Customer Approval Cycle R&D & Product Development 31#33Experienced Board of Directors VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. 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 COLOURS You Can Trust For Your Food Independent Director Independent Director Independent Director Independent Director 32#34Strong Management Team VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Mr. Bipin M. Manek Chairman & Managing Director Rich & Diversified experience of over 35 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. Mr. Mihir B. Manek Joint Managing Director Associated with the company for more than 15 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 Chief Financial Officer Postgraduate with 17 years of experience in finance & administration. Also, looks after the sales & distribution to various geographies Mr. Vijay K. Atre Non-Executive Director Masters Degree in Science from University of Mumbai with experience of 42 years in the field of food colors manufacturing. Associated with the company since inception COLOURS You Can Trust For Your Food 33#35Thank You Company: VIDHI SPECIALTY FOOD INGREDIENTS LIMITED. Vidhi Specialty Food Ingredients Limited CIN: L24110MH1994PLC076156 Mr. Mitesh Manek - CFO [email protected] www.vidhifoodcolour.com Investor Relations Advisors: σ orient capital Orient Capital (a division of Link Group) Mr. Irfan Raeen: +91 9773778669 [email protected] Mr. Rajesh Agrawal: +91 9967491495 [email protected] 34