One of the leading brands in biscuits and bakery businesses in North India with an ability to establish brands

One of the leading brands in biscuits and bakery businesses in North India with an ability to establish brands
Mrs. Bectors Food is one of the leading companies in the premium and mid-premium biscuits segment in North India and sell its products under its flagship brand ‘Mrs. Bector’s Cremica’. They are among the top 2 Indian biscuit manufacturers in the premium and mid-premium biscuits segment in Punjab, Himachal Pradesh, Ladakh and Jammu and Kashmir. In FY 2020, the company had a market share of 4.5% of the premium and mid-premium biscuits market in North India. Its customers associate the brand ‘Mrs. Bector’s Cremica’ with high quality premium and mid-premium biscuits that incorporates quality, taste and value. Its brand recall is enhanced through its arrangements with certain preferred retail outlets, which enhance its brand visibility and presence in their shops by displaying its products prominently in their shelves.

A leading exporter of biscuits
Mrs. Bectors Food is one of the leading exporters of biscuits from India, with ~12% share of the Indian biscuit export market in CY 2019 and contributes more than 50% by value of biscuit exports from India to countries such as South Africa and Uganda and more than 25% by value of biscuit exports from India to Canada. In FY 2020, the company exported biscuits to 64 countries, across Central and South America, Europe, North America, East and South Africa, Australasia, the MENA region and Asia to various retailers, distributors and buying houses such as Monteagle International (UK) Ltd, Lulu Hypermarket Trading Co, E-Mart Inc., Atlas Global (HK) Ltd, Omni Trade Services Ltd, Universal Trade Ltd, and World Wide Imports (2008) Ltd.

The company exports various types of cookies such as Danish cookies, choco chip cookies and centre filled cookies, creams, crackers and some glucose biscuits under its flagship brand ‘Mrs. Bector’s Cremica’. The company manufacture a wide range of biscuits for international retail chains under its private labels.

The company has received several quality certifications from including certificate of registration from the U.S.FDA, the BRC food certification, SMETA, Food Safety System certification 22000 and Halal certification for manufacturing biscuits, which helps in the acceptability of its products in developed and quality conscious export markets.

Established presence in retail and institutional bakery business
‘English Oven’ is one of the fastest growing largescale premium bakery brands in India. The company markets and sells its premium bakery products in savoury and sweet categories such as breads, buns, pizza bases, and cakes to its retail customers under its brand ‘English Oven’ which is one of the largest selling brands in the premium bakery segment in Delhi NCR, Mumbai and Bengaluru. The company is one of the few bakery companies in India that can handle fresh, chilled and frozen products and this model enables it to distribute its bakery products across India. Supply of branded breads and bakery products per day:

Preferred Supplier to some of the largest QSR Franchises in India
The company is also the largest supplier of buns to reputed QSR chains. It is the sole supplier of burger buns and pan muffins to Connaught Plaza Restaurants Pvt. Ltd. since 1995, preferred supplier of burger buns and pan muffins to Hardcastle Restaurants Pvt. Ltd. for ~13 years. The company has also been one of the main suppliers of burger buns to Burger King India Ltd since 2014, and to Yum! Restaurants (India) Pvt. Ltd. since 2013. It has been a preferred and leading supplier of products such as frozen burger buns, panini, garlic breads to PVR Ltd since the last 10 years. Over the years, the company has expanded its manufacturing facilities and introduced stringent quality control processes, which has enabled it to serve other reputed QSR chains.

Modern and automated production processes with a focus on quality control
Mrs. Bectors Food is a quality-focused company and committed to maintaining stringent quality standards at all steps of the manufacturing cycle, from procurement of raw material to dispatch of finished products. Mrs. Bectors Food uses premium quality raw materials and ingredients in its products. For instance, it has integrated modern technologies in its manufacturing process such as the ‘Farinograph’, which allows the company to ensure using consistent quality of wheat during the manufacturing process.

Wide-spread and established sales and distribution network
The company distributes its biscuits across 23 states in India, through its widespread network of super stockists and distributors. For the period from April 1, 2020 to September 30, 2020, the company had a distribution network comprising of 154 super stockists and 644 distributors supplying to a wide range of customers through 458,000 retail outlets.

Its distribution channels include traditional retail, which it defines as small, privately-owned independent stores, typically at a single location. For the period from April 1, 2020 to September 30, 2020, the company has a network of 4,422 preferred retail outlets. Its distribution network is managed by its in-house sales team of over 403 personnel, as on September 30, 2020.

Most of its products are sold through modern trade channels including Walmart India Pvt. Ltd. The company also directly supplies biscuits to institutional clients like CSDs, Indian Railway Canteens and stores in North India.

The company sells its bakery products for retail customers under its brand the ‘English Oven’ through modern trade, general trade channels and various e-commerce platforms. For the period between April 1, 2020 to September 30, 2020, its bakery products for retail customers were sold through 191 distributors and over 14,000 retail outlets situated in Delhi NCR region, Mumbai, Pune and Bengaluru through direct sales to supermarkets, departmental stores and distributors. Recently, Mrs. Bectors Food also started selling its products through various e-commerce platforms in India, multiplexes such as PVR Ltd, and cloud kitchens such as Rebel Foods Pvt. Ltd.

Segment-Wise Performance

Source: Technopak Report, Company RHP and StockAxis Research

Experienced promoter and management team
The experience and leadership of the company’s promoter, Anoop Bector, is a key factor in its growth and development. Anoop Bector has extensive experience of over 25 years and industry knowledge and understanding. His experience has helped the company develop relationships with its vendors for the procurement of raw materials, institutional customers and dealers and distributors. He also provides strategic guidance to the company, while also being involved in their day-to-day functioning of the business. Ishaan Bector, the whole-time director, heads its breads business and is responsible for overall supervision, development and expansion of the company’s breads business and has been instrumental in its growth. The breads business has grown at a CAGR of 29.07% in the last 3 Financial Years under the leadership of Ishaan Bector.

Key members of its senior management team including Manoj Verma, the national sales director (domestic sales) of the company has over 26 years of experience in sales and marketing. Rajeev Dubey, the director (bread sales) of the company has over 26 years of experience. Asim Bhaumik, the group head of quality, technical, research and development of the company has over 23 years of experience in production and operations, Deep M.S Bajaj, the group senior corporate chief of the company has over 14 years of experience in the hotel industry and Suvir Bector, the vice-president (exports) of the company, who are dedicated to the growth of the business.