One spine from farm to cash — the value, the conversion, the days, and the leakage at every handoff. Where spice procurement & contracted channel / export demand turn into ground, blended, sterilized, packed, dispatched, invoiced and collected cash (and where it gets stuck).
₹92 Cr is leaking or stuck across the 63-day quote-to-cash cycle — the largest single pool is ₹30 Cr at Quote. Close the billing lag and aged book to pull cash forward without selling a thing.
6 of 6 headline metrics improving vs prior · still off target: Total Revenue ₹2,500 Cr vs ₹2,800 Cr, DSO (Days Sales Outstanding) 28d vs 24d, Cash Conversion Cycle 72d vs 60d
Forward-buy at harvest, premiumize the blend mix, tighten yield & recovery.
Guntur chilli +12%; spice spot prices firm — direct COGS pressure on gross margin.
Sets capex headroom on a near-net-cash (~0.2×) balance sheet.
Gates the program go-live (SAP / ERP, steam-sterilization & LIMS, plant automation).
Off-platform trade / export pricing vs governed SAP — pure working capital sitting in the cycle, not a sales problem.
The farm-to-cash cycle for the group, end to end. Spices are procured, then ground, blended, steam-sterilized & packed, production becomes dispatched goods, dispatch becomes an invoice, and an invoice becomes cash — 63 days from procurement to cash, with ₹92 Cr leaking or stuck across the handoffs. Each stage links to the 360 that owns it and the records to work. (Modern-trade / e-comm / q-commerce & export listings bill on a steadier cadence — this is the primary-sales lane.)
Value flowing through each stage, the conversion from the prior stage, days in-stage, and the leakage at the handoff.
The biggest levers are produce/dispatch (grinding & production lead time) and collection (DSO) — the order handoff is instant; billing lag is the quiet one.
Each leak quantified, owned, and linked to the 360 and the records that fix it — the working-capital recovery list.
Off-platform trade / export pricing vs governed SAP
Spice-inventory holding + yield / quality loss on below-target runs
Read this: the two biggest pools are ₹18 Cr aged AR (collect) and ₹16 Cr unbilled dispatch / export-doc lag (bill) — both pure working capital. Closing the billing lag and the aged book pulls ~₹34 Cr of cash forward without selling a thing.
Value, conversion, days, leakage and owner — drill to the owning 360.
| Stage | Value | Conv. from prior | Days in-stage | Leakage | Owner | Drill |
|---|---|---|---|---|---|---|
| 🌶️ Procure → Contracted Demand | ₹2,600 Cr | — | 12d | ₹30 Cr | Procurement · Sales | → |
| 🏭 Grind · Blend · Sterilize · Pack | ₹2,500 Cr | 96% | 0d | — | Manufacturing · Quality | → |
| 🚚 Produce → Dispatch | ₹2,440 Cr | 98% | 18d | ₹28 Cr | Supply Chain · Ops | → |
| 📄 Bill / Invoice | ₹2,400 Cr | 98% | 5d | ₹16 Cr | Finance · Billing | → |
| 💵 Collect / Cash | ₹2,350 Cr | 98% | 28d | ₹18 Cr | Treasury · Collections | → |