Tasty Bite Eatables Limited Investor Meeting Summary
Meeting Announcement
• Date: February 10, 2023
• Transcript available on the company's website
• Meeting held on February 6, 2023
• Key participants included Chairman Pradeep Poddar and Ashok Vasudevan
Company Performance Highlights
• 43% growth for the quarter ended December
• 34% year-to-date growth
• Strong EBITDA growth
• 76% year-on-year growth in consumer business exports
• Dominant market share in U.S. grocery and natural foods sectors
Challenges and Future Outlook
• Challenges: currency fluctuations and raw material cost inflation
• Capital expenditures aimed at enhancing capacity and infrastructure
• Full production expected in 2023-2024
• Optimism about future growth under new leadership and Mars' commitment to innovation
Q&A Session Insights
• Ms. Minal Talwar's inquiries on revenue and margin guidance for 2024 were met with evasive responses
• Discussion on the company's long-term vision and growth trajectory
• RTE market in India not a focus; RTE business constitutes about 70% of total revenue
• Ongoing efforts to find a new CEO
Competitive Landscape
• Tasty Bite's dominant position in the U.S. market with a 70% growth rate
• Comparison with competitors like Tata and Mars
• Leadership in retort technology despite emerging technologies
Partnership with Mars
• Tasty Bite as an innovation partner, not just an outsourcing partner
• Focus on expanding meal solutions business with upcoming innovations in the next 18 months
• Mr. Vasudevan expressed gratitude for ongoing support from stakeholders