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Milk processing industry in india 2017 - Sample
1. Milk Processing Industry – India
May 2017
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2. Milk Processing Industry in India 2017
Executive Summary
Market Overview
Drivers and
Challenges
Competitive
Landscape
Milk processing industry in India is expected to grow at a CAGR of x% between FY 2015 and FY 2020, to reach a value of INR x bn from its FY 2015
value of INR x bn
India is one of the largest producer of milk in the world, thereby ensuring easy availability of the main raw material for the processing industry
The market is characterized by the presence of large dairy co-operatives such as Amul, Mother Dairy and the other regional dairy co-operatives
The organized segment is expected to see capacity augmentation to around x mn liters per day with an overall capex infusion of INR ~x bn in the next
three years, and witness strong growth in the value-added products segment
The industry has become increasingly attractive for private equity players, and is currently ranked among the top 10 sectors monitored closely by PE
players
Drivers
Rising income and increased spending on food items
Large bovine population
Growth of organized retail
Increasing urbanization and changing lifestyle
Extensive marketing campaigns and launch of new products
Government initiatives and strong policy support
Challenges
Gaps in the supply chain
Inadequate supply of feed and fodder
Rise in packaging costs
2
Major Players
Amrit Corporation Ltd. Anik Industries Ltd. Gujarat Cooperative Milk Marketing Federation Creamline Dairy Products Ltd.
Parag Milk Foods Ltd. Kwality Ltd. Mother Dairy Fruit Vegetable Pvt. Ltd. Hatsun Agro Product Ltd.
4. Milk Processing Industry in India 2017
Socioeconomic Indicators
Total Population
4
Population Density
1,000
500
1,500
0
mn
j
2019
k
2020
X%
2010
ba
ih
201820172012 2013
d
2015
g
2016
c
2011 2014
e f
0
100
200
300
400
500 f1 h1g1
2015 2016 2017
i1
2018
j1
2019
k1
2020
Y%
a1
2010
b1
2011 2013
e1
2014
c1
2012
d1
Persons per sq. km
5. Milk Processing Industry in India 2017
Market Definition & Structure
5
• Food processing is the process of adding value to agricultural or horticultural produce by various methods such as grading, sorting and packaging, that is, it is a technique of
manufacturing and preserving food substances in an effective manner with a view to enhance its shelf life
• Milk is highly perishable with a very short lifespan, and milk processing helps in increasing the life of milk
• In general, there are 3 methods in which milk is processed
Cooling or Fermentation: In the process of cooling or fermentation, the raw milk flows through stainless steel or glass pipes to a refrigerated bulk milk tank where it is cooled to about 4.4° C
Pasteurization: In this process milk is heated to 72° C for at least 15 seconds, which helps in extending the usable life of milk and reduces the numbers of possible pathogenic microorganisms to
levels at which they do not represent a significant health hazard
Conversion into concentrated high value products: Milk can be processed further to be converted it into high-value, concentrated and easily transportable dairy products with long shelf lives, such
as butter, cheese and ghee
Food Processing Sector
Milk
Whole milk powder,
skimmed milk powder,
condensed milk, ice
cream, butter and
ghee, cheese
Focus of the study
6. Milk Processing Industry in India 2017
Milk Production in India
6
State-Wise Milk Production
FY 2016
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%X%
X%
X%
X%
X%
X%
X% X%
X%
Total Milk Production: x mn tonnes Total Milk Production: x mn tonnes
FY 2014 FY 2016FY 2015
X%
X%
X%
X%
X%
X%
X% X%
X%
X%
X%
X%
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
Others
State 11
State 10
State 9
Total Milk Production: x mn tonnes
7. Milk Processing Industry in India 2017
Milk Processing – Value Chain Analysis
7
Stages of Milk Processing
• Fodder farming
• Animal feed
plant owners
• Veterinary aid
• Labor
• Large scale
farmers
• Medium scale
farmers
• Small farmers
• Co-operative
societies
• Milk
aggregators
• Chilling center
at village level
• Bulk cooling at
district level
• Refrigerated
vans
• Insulated milk
tankers
• Co-operative
plants
• Private plants
• Government
plants
• Own retail
outlets
• Supermarkets
• Any retail
outlets
x x x
Stage 1 Stage 8Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7
8. Milk Processing Industry in India 2017
Market Overview
8
Market Size & Growth Forecast – Value-Wise
• Milk processing industry in India is expected to grow at a CAGR of x% between FY 2015 and FY 2020, to reach a value of INR x bn from its FY 2015 value of INR x bn
• Being one of the largest producer and consumer of dairy products in the world, India represents one of the most lucrative dairy markets
Indian dairy market is dominated by Company 1, Company 2, and Company 3
The organized segment is expected to see capacity augmentation to around x mn liters per day with an overall capex infusion of INR ~x bn in the next three years, and witness strong growth in the
value-added products segment
• xx
Current Market Scenario
0
500
1,000
1,500
2,000
2,500
3,000
3,500
INR bn
+X%
FY 2020e
x
FY 2019e
x
FY 2018e
x
FY 2017e
x
FY 2016e
x
FY 2015
x
FY 2014
x
FY 2013
x
FY 2012
x
9. Milk Processing Industry in India 2017
Market Overview
9
How Processed Products Add Value to Milk
30
50
0
10
20
40
60
x
x
x
Product 3
x
x
Product 4
x
x
Product 5
x
+X%
+X%
Product 11
+X%
+X%
+X%
+X%
+X%
xx
Product 10
+X%
INR bn
x
x
Product 2Product 1
x
x
x
x x
x
x
Product 9Product 7
x
Product 8Product 6
x
x
20152008
Cost of 1 Litre of Milk
INR x
Cheese
INR x
Curd
INR x
Ghee
INR x
Frozen Paneer
INR x
Flavored Yogurt
INR x
Flavored Milk
INR x
Value When Converted to
+X%
Market Size & Growth – Select Value Added Products
+X%
+X%
10. Milk Processing Industry in India 2017
Market Overview
10
Milk Processing Industry – State-Wise Total Value of Output
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
FY 2012 FY 2013 FY 2014 FY 2015
X%
X%
X%
X%
X%
X%
X% X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
X%
X%X%
X%
X%
X%
X%
X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
X%
X%X%
X%
X%
X%
X%
X% X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
Total Value of Output: INR x bnTotal Value of Output: INR x bn Total Value of Output: INR x bnTotal Value of Output: INR x bn
11. Milk Processing Industry in India 2017
Market Overview
11
Milk Processing Industry – State-Wise Gross Value Added
X%
X%
X%
X%
X%
X%
x%
X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
FY 2012 FY 2013 FY 2014 FY 2015
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
X%X%
X%
X%
X%
X%
X% X%
X%
X%
X%
Others
State 10
State 9
State 8
State 7
State 6
State 5
State 4
State 3
State 2
State 1
Total Gross Value Added: INR x bnTotal Gross Value Added: INR x bn Total Gross Value Added: INR x bnTotal Gross Value Added: INR x bn
12. Milk Processing Industry in India 2017
Export – HS Code 0401
12
Export (Value)
0
200
400
600
800
INR mn
X%
FY 2017 (Apr-Feb)
x
FY 2016
x
FY 2015
x
FY 2014
x
FY 2013
x
X%
X%X%
X%
X%
X%
X%
Others
Company 6
Company 5
Company 4
Company 3
Company 2
Company 1
X%
X%
X%X%
X%
X% X%
Others
Company 6
Company 5
Company 4
Company 3
Company 2
Company 1
Country-Wise Segmentation (Value-Wise)
FY 2015 FY 2016
HS Code 0401 refers to milk and cream, not concentrated nor containing added sugar or other sweetening matter
13. Milk Processing Industry in India 2017
Market Drivers
13
Large bovine population Growth of organized retail
• Per capita disposable income in India is
increasing at a steady rate
Gross National Disposable Income in the
country grew from INR x tn in FY 2012 to
INR x tn in FY 2016
Nominal per capita income in the country is
projected to grow at a CAGR of ~x% over
the next five years
Strong growth in per-capita income has
resulted in greater demand for food items
• Increased affordability owing to the higher
disposable income is allowing Indians to
spend more on milk and milk products
• Consumer spending on food is expected to
increase from INR ~x tn in FY 2010 to INR
~x tn in FY 2020 which in turn will drive
growth in the milk processing industry
The share of milk and milk products in
monthly per capita food expenditure
stands at 18.7% for rural population and
20.3% for urban population
While rural per capita monthly expenditure
on milk and milk products is INR x , it is INR
x for urban dwellers
Rising income and increased spending on
food items
14. Milk Processing Industry in India 2017
Competition
14
List of Major Players
Name Website
Company 1
Company 2
Company 3
Company 4
Company 5
Company 6
Company 7
Company 8
Company 9
Company 10
15. Milk Processing Industry in India 2017 15
Company Information
Products and Services
Category Products/Services
XX XX
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Stock Exchange : Ticker
Key People
Name Designation
Person 1 Chairman and Managing Director
Person 2 Chief Executive Officer
Person 3 Group President
Person 4 Chief Financial Officer
Business Description
• XX
Public: Domestic Company – Company 1
16. Milk Processing Industry in India 2017 16
Key Ratios
Particulars 2013 2014 2015 2016
Profitability Ratios
Gross Margin %
Net Income Margin %
EBITDA Margin %
EBITA Margin %
EBIT Margin %
Return on Assets %
Return on Capital %
Return on Equity %
Return on Common Equity %
Liquidity Ratios
Current Ratio
Quick Ratio
Leverage Ratios
Total Debt/Equity
Total Debt/Capital
Interest Coverage
Efficiency Ratios
Total Asset Turnover
Fixed Asset Turnover
Accounts Receivable Turnover
Inventory Turnover
Financial Snapshot
Key Financial Performance Indicators
Indicators Value (13/02/2017)
Market Capitalization (INR mn)
Total Enterprise Value (INR mn)
EPS (INR)
PE Ratio (Absolute)
Net Profit / LossTotal Income
0
500
1,000
1,500
0
10
20
30
40
50
60
XX
XX
INR mn
XX
FY 2015 FY 2016
XX
FY 2014
INR mn
XX
XX
FY 2013
XX
XX
Public: Domestic Company – Company 1 (Continued)
17. Milk Processing Industry in India 2017 17
Key Business Segments Key Geographic Segments
0%
20%
40%
60%
80%
100%
FY 2016
XX%
FY 2015
XX%
FY 2014
XX%
XX%
XX%
FY 2013
Xx%
XX%
100%
80%
60%
40%
20%
0%
FY 2016
XX%
Country 1Segment 4Segment 3Segment 2Segment 1
Public: Domestic Company – Company 1 (Continued)
Company 1 has been operating solely
in Country 1 over the last four years
18. Milk Processing Industry in India 2017 18
Company Information
Corporate Address
Tel No.
Fax No.
Website
Year of Incorporation
Business Description
• XX
Private: Domestic Company – Company 2
Products and Services
Category Products/Services
XX XX
XX XX
XX XX
XX XX
XX XX
Key People
Name Designation
Person 1 Chief Executive Officer
Person 2 Chief Operating Officer
Person 3 Head – Operations
Person 4 Chief Marketing Officer
19. Milk Processing Industry in India 2017
Recent Developments
19
Date Category Description Impact
May 09, 2017 Product Launch Low
Jan 10, 2017 Collaborations & Partnerships Medium
Dec 21, 2016 Collaborations & Partnerships Medium
Nov 29, 2016 Investments Low
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