Analysts Briefing

1st Quarter 2013

Imran Anwer
April 19, 2013

Analysts Briefing Business Update

KEY HIGHLIGHTS OF 1Q2013
Omung 2 Glass Rozana

Olpers Ao Kuch Naya Karien

Omore Thanda Meetha Paan

EMAN named as 2013

ComputerWorlds Honors Laureate
to recognize its use of technology
to promote public welfare

Analysts Briefing Business Update

OVERALL BUSINESS
12,000

Revenue (Rs. M)

10,000
8,000

6,363

7,081

7,922

9,666

10,099

10,774
9,630

9,624

8,493

11% decline QoQ

6,000
4,000

Flat sales YoY

2,000
0
1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

1,200

PAT (Rs. M)

1,000
800

0.65

600
400
200
0

0.17

0.14

118

99

0.26

1.50

1.29

483

0.65
486

0.69
532

0.79
601

977

0.86

1.00

33% decline in EPS

QoQ

653

0.50 32% growth in EPS

YoY

191

0.00

1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

EPS

Analysts Briefing Business Update

Capital Investment of Rs. 8.8 Bn
We are committed towards
making this investment

3.6 Bn

3.2 Bn

Cash Outlay
2.0 Bn

Committed
Remaining

Majority of the remaining

will be committed by end of
2013

Healthy Balance sheet

We continue to have a healthy
balance sheet with a strong
capability to generate cash from
the business

Long Term Debt to Equity Ratio

35 : 65

Current Ratio

2.4 : 1

Ending Cash Balance

Rs. 1.6 Bn

Analysts Briefing Business Update

DAIRY & JUICES
12,000
10,000
8,000
6,000

10,409

Revenue (Rs. M)

5,924

6,149

7,124

8,110

9,257 8,953

9,161

8,749

Ambient UHT Market

Share:
Feb 2013 (Nielsen)
Dec 2012 (Nielsen)

4,000
2,000
0
1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

Ambient UHT
35%
30%
25%
20%
15%
10%
5%

Powder & Cream

GP as a % of revenue
25%
21%
21%
18%
PAT as a % of revenue
8%
5%
4%
4%

1Q2012 vs. 1Q2013

Juices
28%

23%

7%

23%

6%

29%

24%

9%

11%

51%
52%

Ambient UHT
Volume Growth

(11%)

Ambient UHT Value

Growth

(0.2%)

Powder Value
Growth

(18%)

Juices Value Growth

102%

9%

0%
1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013
5

Analysts Briefing Business Update

1,200

1,146

933

1,000

881

798

800
600

ICE CREAM

Revenue (Rs. M)

1Q2012 vs. 1Q2013

438

383

400

409

365

463

200

Volume
Growth
Value Growth

(0.5%)
13%

0
1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

(180)
(130)
(80)
(30)

PAT (Rs. M)
(128)

(135)

34%
29%

28%
(77)

(80)

40%

(120)
23%

38%

(133)

(143)
33%

(110)
23%

22%

(31)

45%

30%

15%

0%
1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013

GP as % of revenue
6

Analysts Briefing Business Update

FARM
Herd Size

30

3,000
21
2,000

18
13

29

25

28

24

20

14

1,000
0

30

10
2,420

2,393

2,615

2,918

3,204

3,116

3,444

3,526

3,512

1Q2011

2Q2011

3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013

Production (thousand litres per day)

5

PAT (Rs. M)

0
(0.5)

(6)
(12)
(18)
(24)

(19)

(18)

(19)

(30)
(36)
1Q2011

(33)

2Q2011

(30)
(35)
3Q2011

4Q2011

1Q2012

2Q2012

3Q2012

4Q2012

1Q2013
7

Strategic Thrust for 2013

INNOVATION

MARKET
EXPANSION

IMPROVE
DILUTERS

ACCELERATE
CASH
GENERATION

10