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Tasty Bite Annual Report for Print.pdf77/5/184:51 PM34th Annual Report 2017-18The TFS business grew 16% in revenues overlast year and is set to accelerate further thisyear driven by continued differentiation in bothSauces and FFP (Frozen Formed Products). Thisinnovation has helped consolidate ourrelationship with key customers who are leadersin this industry and open new markets regionally.Consequently, we expect new channels andinternational expansion to be major growthdriver for the TFS business in the medium term.Sustainability:CYou might recall, a couple of years ago yourcompany adopted 12 of the 17 sustainabledevelopment goals that we thought wereimmediately relevant to us. We have madesignificant progress in each of them. In fact,our resolve has been further strengthened givenMar’s global commitment to sustainability.capacity has been doubled in less than2 years after commissioning.We remain committed to our guiding principleon sustainability: It is not sufficient to followsustainable practices only when they makebusiness sense. Our responsibility is to makebusiness sense out of sustainable practices.Three-Year Plan (2019-2021)and beyond:We recently concluded our corporate three-yearplan that seeks to accelerate growth andprofitability. This will involve significant capitalexpenditure for capacity enhancement andmodernization, expansion in a few select globalmarkets for both our Consumer and FoodService business, and a continued focus oninnovation with products that are necessarilynatural and preferably organic.MY CMToday 100% of the fuel we use in our boilersare sugarcane briquettes.In the long term, we are seeking to be: A household name in select global markets Synonymous with “Wholesome Mazaa” A brand of choice to the ‘Aspirationals’ The benchmark for sustainability in theFood IndustryMY CYCMYK The Tasty Bite Organic Farm enters its 2ndyear after certification and crop yields arealready comparable with conventionalfarming in the area, with significantly bettersoil health.The effluent treatment plant is in fulloperation and has ensured a zero waterwaste environment on campus. The Rainwater harvesting program is in its5th year and remarkably the water tablecontinues to rise. Even prior to the monsoonthis year the water table rose to 60-70 feet. Wind power continues to be an importantsource of energy and accounts for about14% of our total power consumption. We have begun work on solar powergeneration and should be seeing significantprogress during the year.We have set our sights high. The employees atTasty Bite, and our network of service providershave repeatedly proven to function well in thishigh-energy environment. We remaincommitted to driving a positive Food Life.I think we are ready for Tasty Bite 3.0.Thank youAshok VasudevanChairmanThe organic waste we generate increaseswith the scale of our business. But I ampleased to inform you that the biogas plant7

Tasty Bite Annual Report for Print.pdf87/5/184:51 PMTasty Bite Eatables LimitedC‘Wholesome Mazaa for Everyone’MYSince it was first launched in the US in1995, the Tasty Bite brand has stood forgreat taste, real convenience, and goodvalue. It has brought to customers arange of easily accessible culinaryexperiences that evoke nostalgia inthose far from home, and delight inthose trying a palate-pleasing newcuisine for the first time.CMMYCYCMYKThe Tasty Bite range of ready-to-eat andeasy-to-cook, all-natural products covers thegamut of Indian and Asian cuisines, andincludes a vast selection of entrees,ready-to-cook sauces, and organic rice andwhole grain preparations. Made from thechoicest ingredients at a state of the art facilityin Pune, the products contain no preservativesand are ‘designed’ by a team of chefs to balancedelicious taste with good nutritive values.Each product offers the consumer a wholesomeoption that is restaurant quality. All we’ve doneis eliminate all the tedious and oftentime-consuming preparation required to createan Indian or Asian meal from scratch. The‘Ready to Heat’ range can be served up in 60 to890 seconds, making it the perfect option forthose who lack the time or inclination to whip upa delicious meal after a long day. For those whoenjoy spending some time in the kitchen butdislike being overwhelmed by an array ofingredients and complicated cooking processes,the ‘Spice & Simmer’ sauces range is moresuitable. Competitively priced, Tasty Biteproducts are widely and easily available acrossthe US, Canada, Australia, New Zealand and UK.An increasing number of satisfied customers inthese countries have welcomed the opportunityto add the excitement and novelty of exoticcuisines to their daily meals with little or nodifference to their budget.In India the Tasty Bite Food Service (TFS)business reaches a staggering amount ofcustomers through the sauces and formedfrozen products it supplies to leaders in the foodservice industry. The country’s top QSR andHORECA brands rely on us to provide innovative,customized solutions in the vegetarian sauces,meals and frozen food categories. Our versatilerange of tomato based sauces, emulsion sauces,specialty sauces, savory fillings, curries andpastes, and mixed vegetable, plant protein,potato, cottage cheese and cheese basedfrozen products is what makes us the brandbehind every super brand! The TFS portfolio of

Tasty Bite Annual Report for Print.pdf97/5/184:51 h Annual Report 2017-18CMYKcutting edge technologies combined withdecades of experience and a soundunderstanding of customer preferences ensuresthat we are the first choice of the biggest namesin the business.The success of our TFS business in the hugelycompetitive and constantly evolving Indianmarket has also helped us expand globally.Our formed frozen products and ready-to-cookand eat sauces and entrees have now enteredthe overseas market in South East Asia,Middle East and Africa.‘‘Wholesome Mazaa forEveryone” is what wepromise, and that’s what wedeliver. The Indian concept ofmazaa or enjoymentunderlines every offering wemake - indeed it’s thehallmark of Tasty Bite acrossthe world.9

Tasty Bite Annual Report for Print.pdf107/5/184:51 PMTasty Bite Eatables LimitedFINANCIALHIGHLIGHTSPerformance & Key TrendsStatement of Proft and Loss2017-182016-172015-162014-152013-14Net Revenue303.1256.8208.8178.2145.9Gross Profit131.7108.785.371.553.7Operating Profit (Profit before Interest,Tax, Depreciation and Amortisation)54.445.834.326.111.9Profit Before Tax (PBT)41.034.224.616.56.3Profit After Tax (PAT)CH in Crore26.522.016.110.84.3Earnings Per Share of Face Value of H 10103.185.762.842.016.8Dividend Per Share of Face Value of H 145.86.37.36.24.5Balance SheetMYCash and Cash EquivalentsCMFixed Assets (Net)76.265.261.561.064.2MYNet Current Assets52.437.024.09.6(2.3)CYShare CapitalCMYEquity 11.6Others96.771.946.130.019.7Long Term .7%6.1%3.0%Fixed Assets Turnover Ratio4.03.93.42.92.3Current Ratio2.01.71.51.21.0Debt Equity 182016-172015-162014-152013-14TBEL Share Price on BSE(H per share of face value of H 10)7,463.24,658.51,690.5605.0239.0Market Capitalisation (H in Crore)1,915.11,195.4433.8155.261.3KRedeemable Preference SharesReserves and SurplusReserve for Premium of Preference Share CapitalKey RatiosEBITDA (% of Revenue)PAT/Revenue %Return on Capital EmployedOthers*Financial years 2016-17 & 2017-18 figures are as per IND-AS; other financial years figures are as per IGAAP.10

Tasty Bite Annual Report for Print.pdf117/5/184:51 PM34th Annual Report 017-18Operating and Other IncomeFIXED ASSETS (GROSS) in Crore191.2160.158.9107.8ExportsNET 13-14 in Crore30045.830REVENUE in Crore in 42014-152015-162016-17DEBT EQUITY 1402017-182014-152015-162016-17NET WORTH in Crore1.299.28800.9774.4460.840.850.82017-18 in 42014-152015-162016-172017-18*Financial years 2016-17 & 2017-18 figures are as per IND-AS; other financial years figures are as per IGAAP.11

Tasty Bite Annual Report for Print.pdf127/5/184:51 PMTasty Bite Eatables LimitedPRODUCT RANGEConsumer ProductsINDIANRANGECMYHOT & SPICYRANGECMMYCYCMYKORGANIC RICE & GRAINSRANGESPICE & SIMMERRANGE12

Tasty Bite Annual Report for Print.pdf137/5/184:51 PM34th Annual Report 2017-18Food Service ProductsCMYCMMYCYCMYK13

Tasty Bite Annual Report for Print.pdf147/5/184:51 PMTasty Bite Eatables LimitedWORK PLACEKnowledge-Driven Energetic & FunCMYCMMYCYCMYK14

Tasty Bite Annual Report for Print.pdf157/5/184:51 PM34th Annual Report 2017-18SUSTAINABILITYCommitment to our Eco SystemCMYCMMYCYCMYAs a long-standing member of the rapidlyevolving food industry, Tasty Bite is committedto sustainable manufacturing processes thatreflect its mission to utilize natural resources atevery stage. Conservation of water and energyis a priority and we use environment-friendlymethods to ensure that our production processremains among the cleanest and greenest inthe industry.With the aim to reduce our carbon footprint, wehave taken several initiatives to improve air, soiland water quality across our eco system.An ‘in-ground rain water harvesting’ systemhas been installed at our organic farm that hashelped to raise the ground water level. Simpletechniques such as crop rotation, use of naturalfertilisers and pest control methods, and greencomposting also help to improve yield in themost natural way possible. At the factorypremises, effluent water is fully treated andutilized for irrigation purposes in our farm.The Company uses alternative and renewablesources of energy such as wind and solar to asignificant extent. Last year we commissioneda bio-gas facility that now converts all organicwaste into electricity. This is used to power theeffluent treatment plant and the watertreatment plant. Steam for the boilers isgenerated using sugarcane briquettes.We purchase approximately 14% of ourelectricity from a wind generation company.By the end of 2018, the Company intends toinstall rooftop solar panels with a total capacityof 640 KWp. This will provide 10% of the currentpower that the Company consumes. Together,wind and solar energy sources will thus accountfor 24% of the Company’s power needs.Tasty Bite cares for the health of its consumers,the industry and the environment at large andthis shows in every activity we undertake.KEffluent Treatment PlantBhandgaon School BuildingSolar PowerBiogas PlantTraining on Organic Farming15

Tasty Bite Annual Report for Print.pdfCMYCMMYCYCMYK167/5/184:51 PM

34th Annual Report 2017-18NOTICENotice is hereby given that the thirty-fourth annual general meeting of the shareholders of Tasty Bite Eatables Limited willbe held on Thursday, 9th day of August, 2018 at 11.00 a.m. at Hotel Sheraton Grand Pune, RBM Road, Pune – 411 001 totransact the following business:ORDINARY BUSINESS:1.To receive, consider and adopt the audited financial statements of the Company for year ended March 31, 2018 andthe reports of the Board of Directors and the Auditors thereon.2.To declare dividend of Re. 1 per share on 59,530 1% Non-Cumulative, Non-Convertible Redeemable Preference sharesof Rs. 100/- each for the financial year 2017-18.3.To declare dividend of Rs. 2 per equity share on 25,66,000 equity shares of Rs. 10 each for the financial year 201718.4.To appoint a director in place of Mr. Ashok Vasudevan, who retires by rotation and being eligible offers himself for reappointment.SPECIAL BUSINESS:5.Regularization of Additional Director Ms. Dawn Allen:To consider and if thought fit, to pass the following Resolution as Ordinary Resolution:“RESOLVED THAT Ms. Dawn Allen (DIN 07983206), who was appointed as an additional director under non executivecategory with effect from November 14, 2017 on the Board of the Company in terms of Section 161 and 149 of theCompanies Act, 2013 (“Act”) and read with provisions of Article of Association of the Company and who holds suchoffice upto the date of ensuing Annual General Meeting, and in respect of whom a notice has been received from amember in writing, under Section 160 of the Act be and is hereby appointed as a director of the Company liable toretire by rotation.”6.Regularization of Additional Director Ms. Rama Kannan:To consider and if thought fit, to pass the following Resolution as Ordinary Resolution:“RESOLVED THAT Ms. Rama Kannan (DIN 08005849), who was appointed as an Additional Director under Independentcategory with effect from December 22, 2017 on the Board of the Company in terms of Section 161 and 149 of theCompanies Act, 2013 (“Act”) and read with provisions of Article of Association of the Company and who holds suchoffice upto the date of ensuing Annual General Meeting, and in respect of whom a notice has been received from amember in writing, under Section 160 of the Act be and is hereby appointed as a director of the Company.”7.Appointment of Ms. Rama Kannan as an Independent Director for a term of 5 years:To consider and if thought fit, to pass the following Resolution as Ordinary Resolution:“RESOLVED THAT pursuant to provisions of Section 149, 152 and other applicable provisions, if any, of the CompaniesAct, 2013 (“Act”) and the Rules framed thereunder, read with Schedule IV of the Act and any other applicable provisionsof the Act, Ms. Rama Kannan (DIN 08005849), a non executive director of the Company, who has submitted adeclaration that she meets the criteria for independence as provided in Section 149(6) of the Act, and who is eligiblefor appointment, be and is hereby appointed as Independent director of the Company for a term of 5 years effectivefrom August 9, 2018, not liable to retire by rotation.”8.Regularization of Additional Director Dr. Chengappa Ganapati:To consider and if thought fit, to pass the following Resolution as Ordinary Resolution:“RESOLVED THAT Dr. Chengappa Ganapati (DIN 06771287), who was appointed as an Additional Director underIndependent category with effect from January 17, 2018 on the Board of the Company in terms of Section 161 and 149of the Companies Act, 2013 (“Act”) and read with provisions of Article of Association of the Company and who holdssuch office upto the date of ensuing Annual General Meeting, and in respect of whom a notice has been received froma member in writing, under Section 160 of the Act be and is hereby appointed as a director of the Company.”17

Tasty Bite Eatables Limited9.Appointment of Dr. Chengappa Ganapati as an Independent Director for a term of 5 years:To consider and if thought fit, to pass the following Resolution as Ordinary Resolution:“RESOLVED THAT pursuant to provisions of Section 149, 152 and other applicable provisions, if any, of the CompaniesAct, 2013 (“Act”) and the Rules framed thereunder, read with Schedule IV of the Act and any other applicable provisionsof the Act, Dr. Chengappa Ganapati (DIN 06771287), a non executive director of the Company, who has submitted adeclaration that he meets the criteria for independence as provided in Section 149(6) of the Act, and who is eligible forappointment, be and is hereby appointed as Independent director of the Company for a term of 5 years effective fromAugust 9, 2018, not liable to retire by rotation.”10. Fixation of remuneration of Mr. Ravi Nigam as Managing Director for a period of 3 years:To consider and if thought fit, to pass the following Resolution as Special Resolution:“RESOLVED THAT pursuant to Sections 196, 197, 203 and such other provisions as may be applicable, if any, of theCompanies Act, 2013 (“Act”), which shall include any statutory modification(s) or re-enactment(s) thereof read withSchedule V of the Act and subject to the approval of the Central Government if necessary, the consent of the Companybe and is hereby accorded for fixation of remuneration of Mr. Ravi Nigam as Managing Director, for a period of 3years w.e.f. July 20, 2018 and upon such terms and conditions as are set out in the agreement entered into betweenthe Company and said Mr. Ravi Nigam, the terms of which are mentioned in the statement setting out material factsannexed herewith, be and is hereby specifically approved with liberty to the Board of Directors (hereinafter referredto as the “Board”, which term shall be deemed to include the Nomination and Remuneration Committee of the Boardof Directors) to add, alter and vary the terms and conditions of the said appointment and/or Agreement subject to therelevant provisions of the Act.RESOLVED FURTHER THAT subject to other applicable provisions, the aforesaid remuneration be considered as theminimum remuneration, notwithstanding that the Company may make losses or inadequate profits during the tenureof the Agreement for a period of 3 years with effect from July 20, 2018.RESOLVED FURTHER THAT the Board (including the Committees of Directors) be and is hereby authorized to do allsuch acts, deeds, matters and things and to execute any agreements, documents, instruments and writings as maybe required, with power to settle all questions, difficulties or doubts that may arise in regard to the said remunerationas it may in its sole discretion deem fit and to delegate all or any of its powers conferred herein to any director(s) and/or officer(s) of the Company to give effect to this resolution.”11. Approval for declassification of Promoter:To consider and if thought fit, to pass the following Resolution as Special Resolution:“RESOLVED THAT pursuant to the applicable provisions of Securities and Exchange Board of India (Listing Obligationsand Disclosure Requirements) Regulations, 2015 (“LODR”) and any other laws and regulations as may be applicablefrom time to time (including any statutory modifications or re-enactments thereof for the time being in force), if any,the approval of the members be and is hereby accorded for: (a) the de-classification of the status of Kagome Co., Ltd.(“Kagome”) (holding nil shares of the Company) from the ‘promoter/ and promoter group’ shareholding of the Company(“Kagome De-classification”), and (b) for the application dated March 3, 2018 filed by the Company with BSE Ltd andNational Stock Exchange of India Limited (Stock Exchanges) under LODR in relation to the Kagome De-classification(“De-classification Application”).RESOLVED FURTHER THAT the any of directors or Key Managerial Personnel of the Company, be and are herebyauthorized to severally perform and execute all such acts, deeds, matters and things including but not limited to makingtimely intimation/filings to Stock Exchanges, and to execute all other documents required to be filed in connection withthe Kagome De-classification and De-classification Application, and to settle all such questions, difficulties or doubtswhatsoever which may arise and take all such steps and decisions in this regard to give full effect to the aforesaidresolution.”12. Revision in overall borrowing powers:To consider and, if thought fit, to pass with or without modification(s), the following Resolution as a

Tasty Bite Eatables Limited '1'BEL/SE/2018-19 August 24, 2018 BSE Limited, National Stock Exchange Limited Corporate Relationship Department, Corporate Services, Exchange Plaza, 15' Floor, New Trading Ring, Bandra Kurla Complex, Bandra (13), Rotunda Bldg, PJ. Towers, Mumbai — 400 051 Dalal Street, Mumbai 400 001 Scrip Code: TASTYBIT Scrip Code: 519091 'Dear Sir, Sub: Submission of .