#1ADF FOODS LTD. Feeding the world.. Investor Presentation May 2023#2SAFE HARBOR ADF FOODS LTD. Feeding the world. This presentation and the accompanying slides (the "Presentation"), which have been prepared by ADF FOODS LTD (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 2#3ABOUT ADF FOODS 130230) ADI FOODS LTD. Feeding the world. SHOW Methi Malai Matar 100% Vegetar GGion Free Read ABOUT US ADF Foods (ADF) is a leading manufacturer of prepared ethnic food, offering frozen foods, ready-to-eat (RTE) items, ready-to-cook (RTC) items, chutneys, sauces, pickles, spices, pastes, dips and milk drinks under its 8 Flagship brands. indian Ordante Madras Curry Sauce 130Z (389 g) OUR BRANDS ASHOKA THE ORIGINAL INDIAN TASTE indian INDIA'S PREMIUM CHOICE ADF SOUL PJ's AEROPLANE طائرة ORGANICS Nate's جمل CAMEL® Khansaama 3#4Q4 & FY23 Performance Highlights#5Q4 FY23 RESULT HIGHLIGHTS REVENUE (Cr) EBITDA (Cr) & MARGIN Consolidated Quarterly performance Standalone Quarterly performance 82.4 +19.1% 99.8 98.2 17.2% 14.1 ADI FOODS LTD. Feeding the world. PAT (Cr) & MARGIN 25.8% 28.8% 14.3% +99.8% 28.3 25.7 11.8 19.3% 20.7% +71.8% 20.3 19.2 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23 14.1% 22.0% 21.5% 10.4% 15.0% 13.1% +13.8% 123.2 123.1 108.2 +73.2% +42.6% 27.1 26.5 18.5 16.1 15.3 11.3 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23 Q4FY22 Q3FY23 Q4FY23 5#6Consolidated FY23 performance FY23 RESULT HIGHLIGHTS REVENUE (Cr) EBITDA (Cr) & MARGIN 17.6% +17.0% 353.3 +44.1% 21.7% Standalone FY23 performance 302.0 53.3 ADI FOODS LTD. Feeding the world. PAT (Cr) & MARGIN 76.8 41.5 13.7% 17.0% +44.6% 60.0 FY22 FY23 FY22 FY23 FY22 FY23 15.8% 17.9% 11.5% 12.4% +6.9% +21.1% +15.1% 421.2 450.3 66.6 80.6 55.9 48.5 FY22 FY23 FY22 FY23 FY22 FY23 6#7STANDALONE PERFORMANCE HIGHLIGHTS REVENUE (Cr) EBITDA (Cr) & MARGIN (%) 194.5 CAGR +22.0% 302.0 236.6 353.3 19.7% 22.0% 17.6% 21.7% 38.3 76.8 CAGR +26.0% 52.0 53.3 PAT (Cr) & MARGIN (%) ADI FOODS LTD. Feeding the world. 16.4% 15.5% 13.7% 17.0% 60.0 CAGR +23.6% 41.5 36.7 31.8 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 7#8CONSOLIDATED PERFORMANCE HIGHLIGHTS FY23: PAT (Cr) 2 3 60 60 Standalone 5 99 56 Distribution ADF Soul ADF USA Consolidated & others ADI FOODS LTD. Feeding the world. • · In FY23, ADF Foods USA incurred a loss of ~5 Cr on account of supply chain disruptions. For FY22, this this business generated a topline of ~32 Cr and net profit of 2.5 Cr. Further, in FY21 (full year of operations), Revenue was ~53 Cr and net profit was ~*6.5 Cr The Company is making meaningful investments in sales and marketing to create awareness for "ADF Soul' brand in India. This has resulted in a loss of ~2 Cr Further, the company has invested in a new warehouse in USA on a long-term lease basis (FY23 lease payout ~6.6 Cr), the benefit of which is likely to accrue in coming years 8 00#9Consolidated KEY FINANCIAL RATIOS ROCE (%) Standalone 19.4 ROE (%) 21.0 15.5 14.5 18.2 13.6 17.1 12.8 15.9 11.9 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 18.6 27.7 24.2 20.0 14.7 18.1 20.9 18.3 14.0 14.6 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 ADI FOODS LTD. Feeding the world. 6#10SEGMENT WISE RESULTS BREAK UP Particulate (Cr) Q4 FY23 Q4 FY22 Y-o-Y FY23 FY22 Y-o-Y Revenue Processed & Preserved Foods 102.8 87.4 17.6% 362.2 335.3 8.0% Distribution 20.3 20.7 -2.2% 88.1 85.9 2.6% Total 123.1 108.2 13.8% 450.3 421.2 6.9% REVENUE (Cr) ADI FOODS LTD. Feeding the world. 450.3 421.2 362.2 335.3 123.1 108.2 Results 87.4 102.8 85.9 88.1 Processed & Preserved Foods 26.0 18.5 40.5% 81.2 68.0 19.5% 20.7 20.3. Distribution 1.7 1.6 5.6% 10.0 10.0 -0.6% Q4FY22 Q4FY23 FY22 FY23 Total 27.7 20.1 37.7% 91.2 78.0 16.9% EBIT (Cr) Capital Employed Processed & Preserved Foods 249.9 218.9 249.9 218.9 Distribution 67.9 64.6 67.9 64.6 91.2 78.0 81.2 68.0 Margin (%) 27.7 20.1 Processed & Preserved Foods Distribution 25.3% 21.2% 22.4% 20.3% 26.0 18.5 8.5% 7.87% 11.3% 11.6% 10.0 10.0 -1.6- -1.7- Q4FY22 Q4FY23 FY22 FY23 Processed Foods Distribution 10#11Q4 FY23 STANDALONE PROFIT & LOSS Particulate (Cr) Revenue from Operations Cost of Materials consumed Purchase of stock-in-trade Changes in Inventories Gross Profit Employee Benefits Expense Other Expenses EBITDA Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-O-Y 98.2 82.4 19.1% 99.8 -1.6% 353.3 302.0 17.0% 36.6 30.5 34.8 143.6 120.2 1.0 1.7 4.0 7.5 6.3 2.5 0.4 3.6 -0.5 -1.2 58.1 49.9 16.4% 57.3 1.3% 202.7 176.6 14.8% 5.1 4.5 5.5 20.5 17.9 24.7 31.2 26.1 105.4 105.4 28.3 14.1 99.8% 25.7 9.9% 76.8 53.3 44.1% EBITDA % 28.8% 17.2% 25.8% 21.7% 17.6% Depreciation and Amortisation Expense 1.4 1.3 1.4 5.5 5.5 Finance Costs 0.2 0.3 0.2 0.6 0.8 Other Income 0.6 3.6 2.6 10.1 9.1 PBT PBT Margin Tax Expenses PAT PAT % 27.2 16.2 68.6% 26.7 2.1% 80.8 56.1 43.9% 27.7% 19.6% 26.8% 22.9% 18.6% 7.0 4.4 7.5 20.8 14.6 20.3 11.8 71.9% 19.2 5.5% 60.0 41.5 44.6% 20.7% 14.3% 19.3% 17.0% 13.7% ADF FOODS LTD. Feeding the world. 11#12Q4 & FY23 CONSOLIDATED PROFIT & LOSS Particulate ( Cr) Revenue from Operations Cost of Materials consumed Purchase of stock-in-trade Changes in Inventories Gross Profit Employee Benefits Expense Other Expenses EBITDA Q4 FY23 Q4 FY22 Y-o-Y Q3 FY23 Q-o-Q FY23 FY22 Y-o-Y 123.1 108.2 13.8% 123.2 -0.1% 450.3 421.2 6.9% 36.6 30.5 34.8 143.6 120.2 8.1 17.7 16.7 56.9 88.8 13.4 2.4 5.5 14.0 0.7 65.0 57.5 13.1% 66.2 -1.9% 235.9 211.5 11.5% 7.3 6.3 7.9 29.7 23.6 31.2 35.9 31.2 125.5 121.4 26.5 15.3 73.2% 27.1 -2.3% 80.6 66.6 21.1% EBITDA % 21.5% 14.1% 22.0% 17.9% 15.8% Depreciation and Amortisation Expense 3.5 3.1 3.6 13.7 9.1 Finance Costs 0.6 0.8 0.7 2.7 1.8 Other Income 0.6 3.9 2.6 11.2 9.5 PBT PBT Margin Tax Expenses PAT PAT % 22.9 15.3 49.5% 25.4 -10.2% 75.5 65.1 15.9% 18.6% 14.1% 20.6% 16.8% 15.5% 6.8 4.0 6.9 19.6 16.6 16.1 11.3 42.6% 18.5 -13.2% 55.9 48.5 15.1% 13.1% 10.4% 15.0% 12.4% 11.5% ADF FOODS LTD. Feeding the world. 12#13CONSOLIDATED BALANCE SHEET ADI FOODS LTD. Feeding the world.. Equity & Liabilities (Cr) Mar'23 Mar'22 Assets (Cr) Mar'23 Mar'22 Equity Non-Current Assets (a) Equity Share Capital 22.4 21.3 (a) Property, plant and equipment 129.1 115.6 (b) Other Equity 396.9 321.6 (b) Capital Work-in-Progress 6.7 0.1 (b) Non-controlling interest 2.4 2.6 (c) Intangible Asset 24.4 21.4 Total Equity 421.6 345.6 (d) Goodwill 21.4 23.2 Non-Current Liabilities Financial Assets (a) Financial Liabilities (a) Loans 0.1 0.1 (i) Lease liabilities 49.6 49.5 (b) Other Financial Assets 2.3 2.3 (ii) Borrowings 0.0 10.7 Deferred tax assets 4.6 2.8 (iii) Other Financial Liabilities 0.0 Income tax assets 6.4 5.0 (b) Provisions 1.2 0.9 Other Non Financial Assets 0.1 0.7 (c) Deferred tax Liabilities (Net) 9.6 8.1 Total Non-Current Assets 195.1 171.2 Total Non-Current Liabilities 60.3 69.2 Current Assets Current Liabilities (a)Inventories 63.1 76.2 (a) Financial Liabilities (b) Financial Assets (i) Borrowings 0.0 4.8 (i) Investments 80.0 39.3 (ii) Lease Liabilities 5.7 4.9 (ii) Trade Receivable 94.3 71.0 (iii) Trade Payables 22.5 31.6 (iii) Cash and Cash Equivalents 39.9 54.2 (iv) Other Financial Liabilities 11.6 11.6 (iv) Bank balances other than above 23.6 23.4 Other non financial liabilities 1.9 1.5 (iv) Loans 0.1 0.4 Provisions 0.1 0.1 (iv) Other financial assets 16.2 20.7 Income tax liabilities (net) 1.2 1.3 (c) Other non financial assets 12.7 14.4 Total Current Liabilities 43.1 55.8 Total Current Assets 329.9 299.4 Total Equity & Liabilities 525.0 470.6 Total Assets 525.0 470.6 13#14CONSOLIDATED CASH FLOW STATEMENT Cash Flow Statement (* Cr) Cash Flow from Operating Activities Profit before Tax Mar'23 Mar'22 75.5 65.1 Adjustment for Non-Operating Items 10.9 -6.7 Operating Profit before Working Capital Changes 86.4 71.8 Changes in Working Capital -15.1 -23.4 Cash Generated from Operations Less: Direct Taxes paid Net Cash from Operating Activities Cash Flow from Investing Activities Cash Flow from Financing Activities 71.3 48.5 -20.7 -14.4 50.5 34.1 -62.9 -53.8 -4.8 33.0 Net increase/ (decrease) in Cash & Cash equivalent -17.2 13.3 Cash and cash equivalents at the beginning of the year 54.2 39.8 Unrealized Foreign exchange restatement in Cash & Cash equivalents 2.8 1.1 Cash and cash equivalents at the end of the year 39.9 54.2 ADI FOODS LTD. Feeding the world. 14#15KEY DEVELOPMENTS – Q4 FY23#16NEW PRODUCT LAUNCHES THROUGHOUT FY23 - ASHOKA Entered 2 new product categories - plant-based products and frozen desserts in addition to existing range extensions. ADI FOODS LTD. Feeding the world. KOFTA BALLS ASHOKA Combo Meal Chickpeas Curry Steamed Rice ASHOK Combe Meal Delhi Lentils Bombay Biryani ASHOKA Combo Meal Lentils Cumin Rice ASHOKA Combo Meal Spinach Potato Curry Steamed Rice SHOW PLANT BASED Butter Chicken PLANT BASED Lamb Curry Jackfruit Curry SHOK Meethi Baatein Rasmalai 20 NET WT 250ge 6688B NET WT 250ge NET WT 250ge NET WT 28888 AMLA 250ge MURABBA HARAD MURABBA ASHOKA Gulab Jamun PACK KOFTA BALLS (Dry) 35 SHOR SHOW SCHUNG ALOO ONION VEGETABLE KULCHA 4 KULCHA 4 KULCHA 4 KODER Manchurian Balls Chilli Par SHOWA ONION PAKORA SHOR SPINACH PAKORA ALOO PYAAZ PARATHA AMRITSARI Chilli Paneer KULCHA SHOR CHAAT CHUTNEY SHOK GARLIC CHUTNEY (DRY) ASHOKA SAMOSA CHUTNEY 250g (8.80) 150g (6.300) 300g (10505 ASHOR FARM FRESH ALPHONSO MANGO SLICES APPLE MURABBA NET WRICHT GOWN WEIGHT 2 MALAI KOFTA DAL KACHORI 8 Kl Khanzame Onion Paste Papaya Paste Green Chilli Paste Rose Kewra Water Water NET WT 300g/10.502 NET WT 300g/10.50Z NET WT 300g/10.502 CITAAR 16#17NEW PRODUCT LAUNCHES THROUGHOUT FY23 - ADF SOUL ADF SOUL SOUL OLIVE OIL PICKLE SOUL SOUL LIVE OIL GREEN CHILLI SOUL CHUTNEY IN OLIVE OIL CORIANDER SOUL OLIVE OIL PICKLE MIXED Olive oil-based Pickle range SOUL OLIVE OIL PICKLE MANGO SOUL CHUTNEY IN OLIVE OIL SCHEZWAN SOUL HOT MANGO CHUTNEY SOUL DIPPING SAUCES SOUL DIEPING SAUCES S SOUL International gourmet range SOUL Pasta Sauce SOUL Pasta Sauce SOUL Pasta Sauce Arrabbiata " sou-fees is Pesto " A celebration of authentic A celebration of authent Italian cuisine SOUL HABANERO SALSA DIP ADI FOODS LTD. Feeding the world. Aglio Olio " A castration of authentic SOUL GREEN THAI CURRY PASTE SOUL RED THAI CURRY PASTE SOUL SOUL CHIPOTLE BBQ DIP ADF SOUL SOUL PERI PERI SALSA DIP DIP SRIRACHA DIP 17#18BUSINESS OVERVIEW#19BUSINESS DIVISIONS 20% ADI FOODS LTD. Feeding the world. 80% ADI FOODS LTD. Feeding the world. Revenue (Cr) PROCESSED FOODS BUSINESS Large range of products suited for different palates CAGR +12.7% 362 335 293 253 One of the top brands in ethnic food shelves in key markets One of the largest Indian exporters of processed food DISTRIBUTION BUSINESS Synergistic products offering a wider basket Processed Foods Business * Distribution Business * Strong presence in US markets with a growing UK & Europe presence * Revenue Breakdown as of FY23 FY20 FY21 FY22 FY23 32 77 CAGR +39.9% 86 88 FY20 FY21 FY22 FY23 19#20BUSINESS SNAPSHOT WITH MULTIPLE GROWTH LEVERS • • • 8 3 55+ 2 Strong BRANDS MANUFACTURING FACILITIES COUNTRIES WAREHOUSES in US DISTRIBUTION for Distribution NETWORK ㄍㄡ Growth Opportunities Supermarket listings B2B growth via bulk and private label QSR / Cloud Kitchens Capacity Expansion • Greenfield project in Surat to increase frozen foods capacity Completion of debottlenecking efforts at existing facilities • PLI Scheme 50% of the budgeted outlay on international branding & marketing expenses or 3% of sales of food products whichever is lower, subject to a maximum incentive of Rs. 61.35 Cr Enhanced Distribution Step down subsidiary for direct distribution in New Jersey & Georgia Higher throughput, higher margins • חח ADI FOODS LTD. Feeding the world. Net Debt Free HEALTHY BALANCE SHEET Focus • Focus on mainstream customers/stores • India business • Adding more distribution lines • Adding more principals Partnerships/ Inorganic Acquisitions Evaluation of several inorganic growth opportunities Product Innovation Launch of new and innovative products under our existing brands following a customer centric approach and in turn improve our product portfolio to meet evolving consumer demand • Warehousing/Infrastructure Plan on increasing warehousing infrastructure by opening multiple warehouses in key geographies to increase sales and penetration 20#21STRENGTHENING BRAND ASHOKA... ASHOKA About ADI FOODS LTD. Feeding the world. ✓ Ashoka is our flagship brand targeted towards Indian diaspora ✓ Sold in 55+ Countries ✓ Authentic Indian taste ✓ DESI AT HEART is the essence of ASHOKA Ashoka as a brand has grown ~2X in last 2 years +33.2% 157 211 Categories 119 Ambient Range Pickles, Chutney, Pastes, pulp, sauces, RTE, Murabba Frozen Range Indian breads, RTE, Indian snacks & vegetables, plant based curries, Indo-Thai, Indo-Chinese, sweets FY21 FY22 Sales in Cr FY23 21#22WITH MEANINGFUL ADVERTISING & MARKETING T23 FINAL 2022 TANDOORI NAAN WILLOW LIVE ASHOKA ASHOKA DESI DESI at HEART HEART SUNFARM SHAN IFTIKHAR 2314 ENG PAK 85-3 12.1 05 RUN RATE 7.00 STOKES OOOOOO 0-14 2 + ASHOKA DESI at HEART MALA BRE SHER FIBER WALA ASHOKA SHO आगे देखिये DESI HEART fadlashokaofficial odlashokaofficial Authentic Indian Delights ASHOR OKA NANAK India hokey BHATURA ADI FOODS LTD. Feeding the world. SHOKA COUNTER CLOSED SHOKA DESI at HEART OKA R 22#23SHOR AND POSITIVE SOCIAL MEDIA TESTIMONIALS CHON Bhindi Masala Comments adfashokaofficial 32w The best kind of meals are spelled as SAMOSAS #WorldSamosa Day REBOR adfashokaofficial 30w Cooked with perfect blend of spices, Bhindi Masala is a tasty addition to every Indian meal and is best served with hot chapatis. Have you tried it yet? Shop for Ashoka's Bhindi Masala at a store near you. #adfashokafoods #indianfood #bhindimasala #indianmeal #chapatis #indianspices One Pot Kitchen #samosalover #ashokasamosa #adfashoka #IndianSnacks #indianfood #samosafrozen #indianfoodinusa #indianfoodinuk gyro_king.98311 23w Absolutely agree! We carry your delicious samosas at our restaurant The #GyroKing in #bremertonwashington. Our guests absolutely love these Reply ASHOKA Kesar Mango Pulp (Sweetened) Net Wt. 850 g 30 oz 750 ml ASHOKA ADI FOODS LTD. Feeding the world. CHATPATA ACHARI 12:36 PM 2/13/2022 for Parth Bhatt Ashoka Ready-to-eat meals taste so good that our guests thought we cooked it ourselves! ;) #win 1:30 PM 2/13/2072 for Isha Gupta When in doubt about what to eat today just look at Ashoka's ready-to-eat options. *drooling* 215 21 Harleen Sethi PULP FICTION ADDICTION! nurunchowdhury 51w 00 Reply one.pot.kitchen 52w Love it Reply natedawgg704 56w Amazing work lets connect check your DM Reply 660 SHOW adfashokaofficial 34w What happens when 'Chatpata Achari' meets your breakfast? It becomes a family favourite! Shop for Ashoka's Chatpata Achari Dipping Sauce at a store near you. bostonbabbler 33w Looks so good! 1 like Reply SHOW adfashokaofficial 60w We love the feed. We love to feed. Order your pack of Read-To-Eat meals today! #Ashoka #Readytoeat #Readytoeatmeals #Indianfood #lovetoeat #Orderyourpacket momintheuae 60w No. 1 choice at home Reply #indianfoodincanada #indianfoodinaustralia nitishkor 29w Pinned ♡ dxblover80 56w bought this the other day and it tasted so good! Reply 1 My favorite Reply momintheuae 57w vipi manesh Sow 0000 Reply kasheesh31 30w Wow Reply send pic on @food.familye_ 3 3 Reply namitavsuri 57w Yumm..my absolute favourite Reply 1 losinglockdownlard 33w This looks great Reply easy.thaifood 34w Looks mouthwatering Reply 3 dxblover80 60w S Ashoka food is always best it should be each and every kitchen Reply namitavsuri 60w Indeed Ashoka foods is the best Reply 3 23 1 ASHOKA#24I LEADING TO INCREASE IN SHELF SPACE FOR ASHOKA 7B Bhindi Masala Palak Paneer Palak Paneer (6) Per Mahin Punjabi Choky Deli Dal Mahan Del Mar ***SPEACIAL*** ASHOKA NAAN PLAINAGARLIC FAM Walmart PANEER BHURU PAV DABELI PAV - DABELI PAV 4 PANKER BUY DABELL PAV 4 DABELE PAV PANEER BHUR DABELI PAV 4 VIGRIMA DABELI PAVA NADA FAV VADA PAV VADA ADI FOODS LTD. Feeding the world. VADA VADA VADA PANEER BHURD DABELI PAV 4 DABELI PAV 4 VIG KEEMA MA VADA PAV YAN PAV ASHOKA $2.99 EA 24#25FOCUS ON CREATING SUCCESSFUL BRANDS indian INDIA'S PREMIUM CHOICE Truly Indian Truly Indian is targeted at the global mainstream population Premium range of products Company to soon launch products under the frozen foods category Huge potential to grow - The Company is targeting to sell its products through large supermarkets, club stores and food service ADF SOUL ADF Soul Products under ADF Soul brand have been launched PAN India on ecommerce platform (https://soul- foods.in/) and on Amazon. Soon to be available on all leading e- commerce platforms ➤ For ADF Soul, we started with healthy olive-oil based pickles and then launched an international gourmet range of products like Thai curry pastes, dips and pasta sauces. The initial response on e-commerce has been very encouraging, we are looking at adding new products and new channels to continue building the brand. ADI FOODS LTD. Feeding the world. 25#26A BOUQUET OF OTHER GLOBAL BRANDS Positioning اجمل CAMEL® AEROPLANE PJ's ORGANICS Nate's Plant Based Protein (Meat Alternatives) Khansaama Products Geographies Premium brand targeted at Arabic diaspora Meal accompaniments, pastes, Middle East sauces ADI FOODS LTD. Feeding the world. Retail Channel 95% from mainstream/ modern trade stores Economy Brand Meal accompaniments, pastes, Middle East 65% from mainstream/modern sauces trade stores; 35% general trade Organic, made with USDA certified organic ingredients Hand rolled burritos USA 100% from mainstream/ modern trade stores* Non-GMO, all natural, vegan, vegetarian Meatless meatballs USA 100% from mainstream/ modern trade stores* North Indian, Mughlai & South- Asia cuisine Pastes, puff pastry sheets, flavored waters, essences UK, US, Canada Indian Ethnic & South-Asian ethnic stores *On account of supply chain disruptions in USA, there have been no sales for PJ's and Nate's brand 26#27PRODUCT PORTFOLIO Sarson ka Saag CardMastatic Bombay Biryani MEN 23.027 Matar Pancer (Tofu) RGIDAY Delhi Dal Makhani Durter Chicken Paste Curry Paste Mild ge: Garlic Pole SHO DATE & TAMARIND CHUTNEY Schezwan Line Pickle Mana Pickle Manchurian Hot Alphonso Kesat MINT CHUTNEY Shelf Stable Products 400+ SKUS Frozen Products Select key products Snacks- Punjabi samosas, batata vada, kathi rolls Vegetables- Green chilli, Mix vegetable cut, methi, palak Breads- Naans, parathas Ready-to-eat & Ready-to-cook Ready to eat- Pav Bhaji, dal makhni, matar paneer Ready to eat Vegan- Bhindi masala, paneer (tofu) makhani Food Accompaniments Spices & Others Mexican Products ☐ Pickles-chilli, lemon, mango, mixed Chutneys - coconut, coriander, mint, sandwich, panipuri, date & tamarind Sauces- Pasta and pizza sauce Spices- Madras curry powder, tamarind Others- Almond, Mango, turmeric and honey milk Mexican and plant-based products- Frozen Mexican hand rolled burritos, plant-based protein (Meat alternatives) like meatless meatballs ADI FOODS LTD. Feeding the world. Frozen Products BHINDI MIXED VEGETABLES PATRA VATA SABUDANA TIKKI 20 UPPER FCHOM FAMILY ATWAIN PARATHA 5 ALOO PARATHA TANDOORI NAAN CHANA MASALA PASTRY PUFF ALOO MATAR PASTRY PUFP 4 ALOO TIKKI PUNJABI SAMOSA 8 Masala Dosa Wrap Paneer Curry Losa Wrap Indian Green Chilli Paste Cube 20 Soya Chaap 27#28MANUFACTURING FACILITIES Surat, Gujarat Nasik, Nadiad, Maharashtra Gujarat Total Built up factory area - 15,000 Sqm Frozen foods (Samosas, vegetables, snacks, parathas, etc.) Meal accompaniments (Pickles, chutneys, pastes, sauces) Ready to eat curries & canned vegetables Total Built up factory area - 10,100 Sqm Totally automated spice processing unit by Buhler, Germany Ready to eat curries and spices; meal accompaniments Manufacturing of frozen products Leased facility with total area of 2,800 Sqm FAIRAL FREEZER BROF FOODS LIMITED ADI FOODS LTD. Feeding the world. Manufacturing expansion initiatives Existing Facilities ■ Fresh capex along with adding infrastructure at existing plants in Nadiad and Nasik. This will enhance growth in FY24 ■ Capex of Rs. 5 Cr during the year has added revenue potential worth Rs. 30 Cr ■ New Cold Storage is being set up with investment outlay of Rs. 15 Cr for better operational efficiency within 2 quarters New Facility ■ Phase 1 planning completed for greenfield expansion at Surat to increase capacities for frozen foods ■ Ground break to be done in Q2 28#29Atlanta, USA Warehousing and Distribution Facilities New Jersey: 66,000 sq.ft. Atlanta: 34,000 sq.ft. 9200C New Jersey, USA Atlanta, USA New Jersey, USA#30CERTIFICATIONS & ACCREDITATIONS ADI FOODS LTD. Feeding the world. ISO 2200: 2018 certification by BVQI for management system standards CERTIFIED ISO 22000:2018 CERTIFIED BRGS Food Safety CERTIFICATED BRC accreditation - Grade A APEDA (Ministry of Commerce and Industries) Award for exceptional performance in Exports SMETA AUDIT Both our facilities undergo SMETA AUDIT for the 4 Pillars - Labour Standard, Health & Safety, Environment, Business Ethics SMETA SGS PROCESS CERTIFICATION This accreditation demonstrates that products, processes and services meet the highest levels of safety, quality. BRCGS SGS USDA Organic The facility at Nashik is USDA Organic accredited, ensuring stringent production norms and sound farming practices USDA ORGANIC ROL POIN HAZARD HACCP D'ANALYS Hazard analysis & critical control point Accreditation of internationally recognized HACCP (Hazard Analysis and Critical Control Point) certification UKAS PRODUCT CERTIFICATION 0005 UKAS UKAS accreditation which ensures high standards for managing occupational health and safety. لسلسل 30#31CUSTOMER CENTRIC APPROACH#32STRENGTHENING DISTRIBUTION ekaterra Brooke Red Label TAJ MAHAL LOOSE LEAF BLACK TEA NET WT. 450 ge-15.8 02 NET WT 45 Positioning Selling Indian ethnic tea, coffee, beverages, etc. Products Geographies Retail Channel Indian tea and coffee beverages, soups & wheat flour MAHAL ADI FOODS LTD. Feeding the world. PATANJALI Patanjali Ayurveda Patanjali Ayurveda is a rapidly growing Indian multinational consumer goods company based in Uttarakhand, India Natural, herbal and ayurvedic packaged goods USA and UK Mainstream/ modern trade stores as well as ethnic stores UK and Western Europe Mainstream/ modern trade stores as well as ethnic stores INVESTMENT IN Cross Selling Complimentary products Loyal customer base Stronger position with retailers DISTRIBUTION 32#33GOVERNANCE FOCUSED#34CONSISTENT SHAREHOLDER RETURNS FY18 Rs 6.6 crore Buyback FY19 Rs 30 crore Buyback FY20 Rs 6 crore Dividend Payout FY21 Rs 6 crore Dividend 6.6 30.0 Payout FY22 Rs 8.8 crore Dividend Payout Rs 57.4 crores Returned to shareholders in the last 5 years ADF FOODS LTD. Feeding the world. VALUE CREATION FOR SHAREHOLDERS 11.0 8.8 6.0 6.0 FY18 FY19 FY20 FY21 FY22 FY23* 31% 14% 12% 18% 20% Total Dividend (* Cr) *For FY23, the Board has recommended a dividend of Rs. 5/equity share. = Payout Ratio Dividend/PAT Shares buyback amount Robust shareholder returns over the last 10 years Value creation through buyback in FY17 and FY19 during which dividend was not paid 34#35CORPORATE SOCIAL RESPONSIBILITY (CSR) CHC LIVE WEREOTION. ADI FOODS LTD. Feeding the world. Covid Measures Partnered with NGOs for supply of oxygen concentrator machines and distribution of food and hygiene kits to slums and village children in Maharshtra. स्वच्छ भारत एक कदम स्वच्छता की ओर Clean India Mission Swachch Bharat Abhiyaan: Constructed over 100 toilets with running water supply in Nadiad district. Programmes to educate villagers about proper sanitation and hygiene practices. Education support program Partnered with several education not-for-profit organizations to provide educational support to facilitate regular studies, value education, personality development etc. " Women Empowerment ADF helps in the cause of giving women a safe space to live and work by contributing towards the annual maintenance cost of a girl's hostel in Mumbai and a girls school in Porbunder, Gujarat. Further the Company has provided financial aid to start a vocational training centre at Nadiad Animal Welfare Involved with an animal protection organization IDA (In Defence of Animals) since 2016 that provides medical care to ill and injured animals and also runs neutering drives for strays. Support to the Disabled Contribute for annual maintenance expenses and financial aid of Cheshire Home, NGO that provides residential care to physically challenged men Partnered with SIES College, Stephen's High School & a Spastic Society called ADAPT all located in Mumbai to impart educational support to disabled children. + Medical Aid Partnered with two NGOs viz. Nirant Vividh Seva Trust and Samanvay Samajik Sanstha towards providing financial support to underprivileged people across India. Provided financial aid two hospitals in Nadiad to purchase medical equipment. Environmental Protection Partnership with a NGO called Isha Outreach which is a part of the Cauvery campaign which aims at supporting farmers to plant 242 crore trees in next 12 years. 35#36BOARD OF DIRECTORS Bimal Thakkar Chairman, Managing Director and CEO ADI FOODS LTD. Feeding the world. Deepa Harris Independent Director Chandir Gidwani Independent Director Ravinder Jain Independent Director Jay Mehta Non-Executive Director Viren Merchant Non-Executive Director ■ 36 years of experience in domestic and export food industry ■ Instrumental role in developing brands and new products, tapping new markets, international acquisitions, setting up of subsidiary companies in U.K. and U.S.A. ■ 30+ years of expertise in highend luxury hospitality category ■ Independent Director of PVR Limited, Jubilant Foodworks, Prozone Intu Properties, Taj Safaris, Concept Hospitality and TCPL Packaging ■ 45+ years of experience in financial services ■ Chairman Emeritus & Founder of Centrum Capital Ltd; Member of industry associations e.g. FICCI, CII, etc. ■ 45+ years of experience in business management ■ Ex - MD of Shaw Wallace, MD of Millennium Alcobev and head of McDowell and Co. ■ 35+ years of rich industrial experience ■ Executive Vice Chairman of Gujarat Sidhee Cement Ltd and Saurashtra Cement Ltd ■ 30+ years of experience and expertise in business management and pharmaceutical and healthcare industry ■ Currently CEO of Encore Healthcare Pvt Ltd 36#37THANK YOU ADI FOODS LTD. Feeding the world.. ADF Foods Limited CIN: L15400GJ1990PLC014265 Mr. Shardul Doshi, CFO [email protected] σ orient capital Mr. Irfan Raeen +91 9773778669 [email protected] Mr. Devansh Dedhia +91 9930147479 [email protected] ASHOKA THE ORIGINAL INDIAN THAT Butter Chicken Paste Net W 8009 10.60 250m ADI FOODS LTD. Feeding the world.