The missing competitor is ITC, which can really prove tough to beat. Also US customer prefer to eat out to packaged foor. Lunch menus of Restaurants are priced to 6$ which is what makes the customer come out from their offices to eat out. Changing that is not going to happen with the retail pricing of one packet for 4$. Tasty bite still holds potential but is overpriced for the risk against it.
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The FY19 annual report looks like an investor presentation. All of 12 pages in total. Never seen such an annual report, any precedents or does it look inadvertent ?
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I think you are looking at the wrong file. Check this: https://www.tastybite.co.in/pdf/Annual-Report-2019-alongwith-Notice.pdf
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I buy tasty bites items from Costco. It’s priced around $9 and $11 for Normal & Organic respectively for 6 to 8 packets. So the pricing at wholesale stores like Costco is very competitive.
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Thanks for your inputs. What is your opinion of the taste and quality? I have tasted this in Australia a couple of times, but was limited to one or two items.
Desi consumption is there and they too are value concious … Costco is a good route but if Taty bite has to be main stay of pakcaged food they have to infilterate western homes as main stay supply. I do not see any such launches in that direction. I see Sukhi brand from Canada more aggresive in capturing that demand. Tasty bite lacks the imagination and will to break the zone they are in. They are pure Vegan neither they are path shaking like Beyond meat nor aggressive like Sukhi … My take At best performer… Not sure about how their QSR business is doing.
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Even I have bought their products in Costco. Some of them are really good. I see many people buying their madras lentils which is pretty good. Rest of them are pretty average and Bombay potatoes being the worst in taste imo. Costco usually puts up few deals over the weekend with free samples and I see many people buying it. On regular days I haven’t seen anyone specially looking for these.
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Hello,
Any news on capacity doubling in every 3 years, the comment which Management made in 2018? I couldn’t find anything in AR as well.
Current valuations seem steep. While the business franchise looks to be strong and the MARS parentage would unlock access and positioning synergies in many markets, I am personally not very convinced on the way ahead, despite its branding as a healthy food product. Given the pervasion of zomato and other fixed meal take-aways(fresh to eat), I see a portion of their market share being eaten away fast.
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Nice thread by @coolfundoo on twitter - https://twitter.com/Coolfundoo/status/1265169011920252930?s=20
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Glimpse of new products coming soon - Bowls. Seems smart addition to already wholesome product range. Healthy and natural products to satiate taste buds without a hassle. Innovation engine has been running well.
Source: https://tastybite.com/
Disc: Invested. Reentered after a long gap. No transaction in last 30 days.
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PBT 53 cr in which Export incentives are 29 cr.
Same for few other export oriented food cos.
Are incentives permanent ? How do you value such co ?
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Hi Anand, sorry could you please specify relevant clarification as per which INR 29 crores have resulted from export incentives? Thanks.
From AR 2018-19. 17 cr incentives on revenue of 336 cr (fy2019)& 278 cr(fy2018) each!!
Expecting 20 cr (minimum out of 29 cr other income) for fy2020 (AR still awaited).
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Yep, they are continuously innovating & bringing new SKUs. As per AR 2019 they spend 0.52% of Revenue on Research which is way higher than it’s peers like Haldiram etc. Though Haldiram has increased it’s research expenditure recently but still it is way lower than Tasty bite. Tasty Bite have Tasty Bite Research Center (TBRC) dedicated for this job.
I wrote a thread on Tastybite recently and answered your concern towards the end (regarding Desi competition). Also QSR is growing fast it’s now 33.2% of revenue.
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why gross margin of Tasty Bites is in continuous decline?Does the company is loosing pricing power?
I mentioned this in the thread (RISK section) too. It is one of the Risk highlighted in AR 2019. Company may not have pricing power, not adequate insurance. Export incentives now classified as Other income if you remove from Operating Profit the margins are just ok ok…
Compiled Important Q&A Regarding #Tastybite Financial / Fundamental. Sharing for benefits of all.
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Also
Compiled Questions regarding #Tastybite Competitors. Sharing for benefits of all
Impact of the COVID-19 pandemic on the business: