Ref: KRBL/SE/2023-24/38 10th August 2023

The General Manager National Stock Exchange of India Limited

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

Sub: Investor Communication on Unaudited Financial Results of KRBL Limited for the
First Quarter (Q1) ended 30th June, 2023

Dear Sir/Madam,

Pursuant to the provisions of Regulation 30 read with Para A of Schedule III of SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, we are pleased to enclose herewith the
Investor Presentation on Unaudited Financial Results of KRBL Limited for the First Quarter (Q1)
ended 30th June, 2023.

This is for your kind information and record.

Thanking you,

Yours Faithfully,
For KRBL Limited
JYOTI
Digitally signed by JYOTI VERMA
DN: c=IN, postalCode=122001, st=HARYANA,
street=H NO 871 SECOND FLOOR
GURGAONSECTOR 40NEAR COMMUNITY
CENTRE 122001, l=GURGAON, o=Personal,
title=7135,
serialNumber=e4a5c32bf0f695bc6dd92023f3

VERMA
0f83262334c4279360d43c6c9bcc31262b5c3d,
pseudonym=713520221018132322476,
2.5.4.20=5d7f1f48d3d1088e4300a3fd33ec2d4
cc733bf4f536c78b2669f51f3bf9312c7,
email=CS@KRBLINDIA.COM, cn=JYOTI VERMA
Date: 2023.08.10 18:15:34 +05'30'

Jyoti Verma
Company Secretary
FCS-7210

Encl: As above
KRBL Ltd.
Investor Presentation
- Q1 FY2024

*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Unmatched Strengths

#1 #1
India’s largest exporter of KRBL has largest contact
branded basmati rice with farming network coverage
footprint in > 90 countries for rice

India Gate is recognized as Strong financial position;

#1
the world’s no. 1 basmati healthy internal accruals
rice brand* and liquidity with low
reliance on debt

Integrated operations with

#1 750+
world’s largest rice milling
capacity and the world's Dealer and Distributors
largest plant in Punjab, across India
India

2 *As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Q1 FY24 Consolidated Performance Highlights

Total Income Gross Profit EBITDA PAT

1,441 415 278 195

930 (930) 4,884 3,278
Cash & Bank balance* Net Bank Borrowings Net worth Total Inventory

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

3 *Includes Other Bank balances and Investments (excluding Investment in Equity Shares)
Continuing Momentum in Revenue

 15%

1,414
1,228
29
34

845 • Overall revenue increased by 15% over Q1 FY23.

709
Domestic and export revenue increased 19% & 11%
respectively.
485 540

Q1 FY23 Q1 FY24
Exports Domestic Power

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

4 4
Profitability Metrics for Q1 FY24

Gross Profit EBITDA

32.5%
28.8% 19.6% 19.3%
• In Q1 FY24, basmati realization increased by 2%
compared to Q1 FY23.
415
403
242
278 • Basmati input costs increased by 16% in the
same period. Average basmati input cost – though
higher on y-o-y basis - is relatively stable vis-à-vis
Q1 FY 23 Q1 FY24 Q1 FY 23 Q1 FY24 last two quarters.
• Gross Profit margin at 28.8% was lower owing to
higher basmati input cost.
Profit After Tax Cash Profit
13.3% 13.5% • EBITDA margin was at 19.3% and benefited from
lower proportionate other expenses (freight and
advertisement).

214 • PAT Margin was at 13.5% and improved due to

195 183
164 lower finance cost and tax.

Q1 FY 23 Q1 FY24 Q1 FY 23 Q1 FY24
All figures in Rs . crore and are based on consolidated financials
5
Superior Balance Sheet Matrix
Current Ratio (%)
9
7 • Total inventory as of 30th June, 2023, is at Rs 3,278
Cr, compared to Rs 2,461 Cr as of 30th June, 2022.
• Overall liquidity position remains strong.

Q1 FY 23 Q1 FY24

Working Capital Days Inventory Position (Rs. Crore)

2,264
1,908
211 222
182 193

849
396
8 5 19 16

Inventory Days Payable Days Receivable Days Working capital days Paddy Rice

Q1 FY 23 Q1 FY24 Q1 FY 23 Q1 FY24

All figures are based on consolidated financials

6
6
Superior Balance Sheet Matrix

Net Bank Borrowing (Rs. Crore)

Q1 FY 23 Q1 FY24

• Financial strength reflected in Strong Credit Rating:

Long Term Rating: [ICRA] AA(Stable), upgraded on
(936) (930) Feb 28, 2023.

• Short Term Rating: [ICRA] A1+; CARE A1+

Interest Coverage Ratio • Internal accruals further strengthened balance sheet
176 position and debt protection metrics.
111

Q1 FY 23 Q1 FY24

All figures are based on consolidated financials

7
7
Financial trends over the years

Revenue Gross Profit EBITDA*

5,363
4,499 1,670 1032
4,120 3,992 4,211 893
1,242 1,300 1,264 865 845
1,192 705

FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23

PAT Net Worth Net Bank Borrowings

4693
4,070
701 3,693
558 559 3,128 1,381
503 2,727
459

374
53 (390) 77

FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23

8 All figures are based on consolidated financials, *Includes Other Income All figures in Rs. crore
Shareholder Distribution

Dividend Buyback Dividend + Buyback

349 Cr

325 325

66 82 82
59
24 59 66 82 82
- - - - 24
FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23

Dividend Buyback Dividend Buyback

Total Dividend + Buyback in period FY19 to Q1 FY24

(including proposed dividend and announced buyback)
Rs. 638 Cr
• All figures in Rs . crore and are based on consolidated financials
• Buyback size excludes any expenses, fees or tax.
9
9 • Dividend amount excludes Dividend Distribution Tax..
• FY23 dividend is subject to shareholder approval.
India Business

10
*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Continuing Market Leadership

845
Revenue* in Rs. Crore for Q1 FY24
• Revenue driven by 14% growth in basmati volume and
Trend in Domestic Business 5% growth in basmati realization over Q1 FY23.

19%
Revenue growth Y-o-Y

*Excludes Energy

11
 STRATEGIC PILLARS | DOMESTIC

1. 2. 3.

INCREASING
BRANDED BASMATI DENSIFYING AUGMENTING
PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
 STRATEGIC PILLARS | DOMESTIC

1. 2. 3.

INCREASING
BRANDED BASMATI DENSIFYING AUGMENTING
PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
STRATEGIC PILLAR 1
India Gate penetration reaches new heights
On the back of impactful media campaigns and improved distribution

PENETRATION (%)* GROWTH

MAT ‘23 VS.
MAR’23 ‘22

Huge headroom for

UNBRANDED 29.2 -5.3%
increasing Branded
Basmati’s penetration
BRANDED 19.5 2.4%

KRBL consuming Households

INDIA GATE 9.6 11.5% cross 1 Cr milestone!
10,477,804 Households (MAT MAR’23)**

**Source : Kantar Household Panel

(MAT Mar’23) – All India Urban

*Source : Kantar Household Panel (MAT Mar’23) – 11 Major Markets (Urban)

Overall Basmati Rice Numbers : ‘Branded Basmati + Unbranded Basmati’ penetration is higher than Basmati penetration since this includes dual usage households also
STRATEGIC PILLAR 1
‘Regionalization’ in Focus
South Markets get activated with regional campaigns, with the objective of Category Expansion

SOUTH MARKETS – TN, KARNATAKA

‘Make Traditions Taste Great with India Gate Basmati Rice’

Film 1 - Good Choice! Film 2 - 10 out of 10!

Coconut Rice Mint Rice

STRATEGIC PILLAR 1
‘Regionalization’ continues to build impact
Phase II of HSM, WB and Maharashtra regional campaigns continues to drive Business objectives
HINDI-SPEAKING MARKETS WEST BENGAL MAHARASHTRA
‘Basmati Rice Se No Compromise’ Home Minister Brand Power
Preferred by 9 out of 10 women in Mah.
MAIN FILMS

Continued Journey
on TV & Digital
Phase II started in Jun’23,
till Aug ’23, supported with
POSM, Digital Promotion
and on-ground activations 9 out of 10 women in Maharashtra recommend India Gate
Sasumaa, Couple, Hostel
Continued Digital Campaign Continued Journey on TV & Digital
SHORTIES driving consumer behavior changes Started from Jun’23, spread till end of
Jul’23 on TV | Till Sep ’23 on Digital

Contextual Digital
Dum Biryani Rajma Chawal films targeted
towards Basmati
Consuming
audience

Khyali Pulav Kadhi Chawal

STRATEGIC PILLAR 1
Impactful Media Collaborations & Brand Accolades

BUILDING REGIONAL NO. 1 TRUSTED BRAND

INDIA GATE X ‘TARLA’
RELEVANCY OF INDIA
BIG BOSS MALYALAM Biopic of India’s first home-chef, India Gate has been listed as
Kerala Tarla Dalal, starring Huma Qureshi ‘No. 1 Trusted Brand of India’
in the category of Packaged Rice,

IGBR EID CELEBRATION Recipe Video in Tarla’s style *As per the 'The Brand Trust Report, India
Study 2023’ published by a Research firm - TRA

Co-Branded
Digital
IGBR COOKING CHALLENGE Video

Product display | Active Integrations | Campaign Promotions on Digital

Regular TVC spots | Relevant audience platforms
 New FSSAI Basmati regulations to safeguard consumer interest
STRATEGIC PILLAR 1

The new regulations Now any ‘Basmati’ With ~65% of the Hence, the consumer
are intended to product cannot category being sold needs to be made
protect the integrity have more than ‘loose’, there remains aware of the new
of the Basmati grain, 15% non-basmati the possibility of regulations to
The Pride of India blend adulteration across empower them to
the value chain make the right
choice!
 KRBL partners with FSSAI’s ‘Eat Right India’ initiative
STRATEGIC PILLAR 1
Educating and Creating Awareness amongst consumers to make the right choice

A P U B L I C I N T E R E S T I N I T I AT I V E

CONCLAVES CONSUMER AWARENESS TRADE EDUCATION

& SEMINARS CAMPAIGNS PROGRAMMES
 STRATEGIC PILLARS | DOMESTIC

1. 2. 3.

INCREASING
BRANDED BASMATI DENSIFYING AUGMENTING
PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
STRATEGIC PILLAR 2
Densifying distribution reach
Increasing Penetration through improved availability

MARKET REPRESENTATION
28% increase in number of distributors
Having market representation in ALL 50k+ Pop. Towns in
North & West & ALL 1 Lac+ Pop Towns in East & South

RETAIL OUTLET PRESENCE

MARKET COVERAGE 3,38,035 +6,515 Outlets (All channels)
VS. Q4 FY23
45%+ increase in Feet On Street with focus on direct
retailing and improved assortment availability NUMERIC DISTRIBUTION (%)*
TT Q1 FY24
KRBL 48.0% +230 bps
VS. Q4 FY23
SECONDARY COVERAGE
Increase by 650 bps to 40%

*Numeric Distribution = (No. of outlets in which KRBL packaged Basmati Rice is

available) / (No of outlets in which Packaged Basmati) is available).

Source: As per Nielsen’s Q1 FY24 RMS data

 STRATEGIC PILLARS | DOMESTIC

1. 2. 3.

INCREASING
BRANDED BASMATI DENSIFYING AUGMENTING
PENETRATION DISTRIBUTION REACH PORTFOLIO ACROSS SEGMENTS
 Well on track to achieve 5% of Domestic Revenue through Regional Rice
STRATEGIC PILLAR 3

REGIONAL RICE
Positive response to Aged Regional Rice
offerings from the house of India Gate –

Q1 FY24 at 3.6%
SURTI KOLAM, JEERA RICE & SONA
MASOORI

of Domestic Revenue*

GT MT+ E-com

Focus on Portfolio Strengthening Portfolio

in South India & listings on
Launch of
Scaling up of Distribution
WADA KOLAM

* 3.6% represents domestic branded regional rice sales as % of total domestic revenue (Excluding energy).
 Digital-First Campaign for India Gate Sugar Watchers
Awareness campaign targeted to Diabetics, Pre-Diabetics and Health Conscious individuals
STRATEGIC PILLAR 3

DIGITAL – FIRST CAMPAIGN ‘Give it a Go, its GI is low’

Top Metros
HEALTH PORTFOLIO
Successful launch for
INDIA GATE SUGAR WATCHERS
Office
Low GI Rice, Film 2

further strengthening KRBL’s health

portfolio
Main Film
Film 1

Son-in-Law
Film 3
Focused Communication crafted as
LIFESTYLE VIDEOS per different consumer Cohorts

Eat across meals Stay Fit Stay Active

Positive Response from the consumers & Trade for ‘India Gate Sugar Watchers’

MODERN TRADE E-COMMERCE GENERAL TRADE

TN & Karnataka
BRAND LANDSCAPE Maintaining leadership stance

ALL INDIA VOLUME SHARE (Q1 FY24)*

Q1 FY24 Q1 FY23

Traditional
Trade 32.4% +90 bps

Modern
Trade 41.9% +510 bps

*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23

* Source: As per Nielsen’s Q1 FY24 RMS data

India Brand Portfolio

27
Export Business

*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23
Leadership beyond India

540
Revenue in Rs. Crore for Q1 FY2 4
• 11% y-o-y revenue growth in Q1 FY24, driven
Trend in Export Business by basmati volume gains.

11%
Revenue growth Y-o-Y

29
Positive trends for Rice export from India
Global markets offer exciting opportunities for KRBL to drive growth
Basmati rice exports from
• High yielding varieties of rice have led to surplus production in the country
Production • Adoption of technology in farming have helped spur growth in produce
India for FY23 – Volume - (%)
• Focus on quality has led to increased demand for Basmati globally

Export • India is the #1 exporter of rice and has a 65% share of the global basmati market
Leader • Globally, India accounts for ~85% of basmati exports which is expected to rise Asia; 4% Oceania; 1%
Africa; 4%
North America;
6%
Indian • Increasing demand for the PUSA basmati variety in the US which was commercialized by
Presence KRBL Europe; 7%
Globally • Large Indian diaspora aboard to drive rice as both a staple and a restaurant grade item

Demand • Excellent quality standards have spurred increase in the demand for Indian basmati rice Middle East;
from amongst locals 78%
Middle • Supported by consistent supply, 52% of total rice consumption is Basmati Rice (As per AC
East Nielsen)

Shift to • ~$10 million of rice exported out of India under private label is Brown Rice
Healthier • UK accounts majorly for the import of brown rice with shift to healthier alternatives
Option Source: APEDA

30
Overall international market position
•KRBL has leadership position in terms of market share in most GCC countries.
•India Gate is #1 Indian Basmati rice brand in Qatar, UAE & Kuwait.
•India Gate is the only premium Indian Rice brand in GCC.
Middle East •Nur Jahan is the 2nd most popular brand in the region and preferred brand among price conscious consumers.

•Europe is a growing market for KRBL.

•KRBL’s growing portfolio of the health food segment to propel growth in the region.
Europe •Development of new crop will help in complying pesticide norms and will grow KRBL’s presence in the region.

•KRBL consistently earns substantial premium on realizations. (~45% higher realization among other Indian exporters).
•India Gate is #1 Indian Basmati rice brand in Canada both in Ethnic and Modern Trade.
•Present in the dominant channels of trade.
Americas •Popular brand among diaspora, rising local popularity.

•KRBL has leadership position in Australasia for last 15 years.

•India Gate is #1 Indian Basmati rice brand in Australia, New Zealand and Fiji with KRBL having 18% market share among Indian exporters.
•Nur Jahan is #1 Indian Basmati rice brand in South Africa with KRBL having 39% market share among Indian exporters.
RoW •India Gate is the most preferred brand in Northern African market with KRBL having 16% market share among Indian exporters.

31
Export Strategy

Launch of economy
variants / small packs to
drive penetration

New products
Channel expansion
Existing
Markets
New / Seeded
Acquisition of markets
“adjacent” basmati
consumer Direct marketing

Channel
deepening &
diversification Direct marketing
- Penetration to locals with Arabic TVC in mainstream
channels
-Targeting geo-location customers through social
media
-Increasing focus on India Gate HORECA line up to
32 target HORECA customers
Exports Brand Portfolio

33
Expansion Update

Gujarat Plant Karnataka Plant

Rice to rice plant. Paddy to rice and rice to rice plant.

 Commercial production commenced on June 12, 2023. Status: Civil work started in June
2023.
 Total rice processing capacity- 30 MT per Hour.

 Plant aimed at both export and domestic consumers.

Madhya Pradesh Plant
 Located near Kandla Port- enables quicker farm to port time for exports. Paddy to rice and rice to rice plant.
 Enables efficient procurement of rice grown in western states. Status: Land registered in August
’2023.
Contact Us
Safe Harbor
This presentation contains statements that contain “forward looking
statements” including, but without limitation, statements relating to
the implementation of strategic initiatives, and other statements
relating to KRBL Limited and its affiliated companies (“KRBL”)
future business developments and economic performance.
While these forward-looking statements indicate our assessment
and future expectations concerning the development of our
business, a number of risks, uncertainties and other unknown Investor Relations Desk
factors could cause actual developments and results to differ
materially from our expectations. KRBL Ltd.

These factors include, but are not limited to, general market, Tel: +91‐120‐ 4060 300
macro‐economic, governmental and regulatory trends, movements
in currency exchange and interest rates, competitive pressures, Email: investor@krblindia.com
technological developments, changes in the financial conditions of
third parties dealing with us, legislative developments, and other
key factors that could affect our business and financial performance.
KRBL undertakes no obligation to periodically revise any forward-
looking statements to reflect future/ likely events or circumstances.

35
Thank You

*As per Mordor Intelligence Report on packaged basmati rice, MAT Jun’23