EBIDTA up 47.31% to Rs 6.32 cr; EBIDTA margins improved to 22.15%
ADF Foods Limited, one of the major food processing companies has recorded a jump of 32.91 % in its net profit to Rs 4.28 crore in 3rd quarter ending December 2010, compared to Rs 3.22 cr in Q3 FY 2010. During the same period, the Income from operation has increased by 22.34% to Rs 28.53 crore from Rs 23.32 crore.
The company’s EBIDTA has increased by 47.31% in Q3 FY11 to Rs 6.32 crore from Rs 4.29 crore in Q3 FY10, while for the same period, EBIDTA margins have been improved from 18.39% to 22.15%.
EBIDTA margins for 9 months ending December 2010 have improved to 25.53% compared to 23.33% in the same period previous year.
For nine months period ending December 2010, The company has reported an increase of 19.31% in its EBITDA to Rs. 20.63 crore compared to Rs. 17.29 crore for the same period last year. During the same period, Income from operations increased by 9.01% to Rs.80.79 crore compared from Rs.74.11 crore.
The company had reported a Profit before Tax (PBT) of Rs.16.11 crore and a Profit after Tax of Rs.12.37 crores for 9 months ended December 31st, 2010.
Particulars Qtr Dec 10 Qtr Dec 09 Inc/(Dec) In % YTD Dec 10 YTD Dec 09 Inc/(Dec) In % Sales/income from operation 28.53 23.32 5.21 22.34% 80.79 74.11 6.68 9.01% EBIDTA 6.32 4.29 2.03 47.31% 20.63 17.29 3.34 19.31% EBIDTA % to sales/income from operation 22.15% 18.39% 3.76% 25.53% 23.33% 2.20%PBT before M 2 M 4.73 2.84 1.89 66.54% 16.11 12.96 3.15 24.30% PAT 4.28 3.22 1.06 32.91% 12.37 13.12 -0.75 -5.71% Mr. Bimal Thakkar, MD ADF Foods Ltd, said, “With the change in lifestyle we foresee an increase in demand in our products backed by economic recovery overseas. Our increasing sales highlight the confidence of our customers in us. With wide range of products from ready to eat foods, meal accompaniments, Frozen Foods we are poised to deliver better results in near future.”“We have had a successful trial launch of our products in Mumbai and Pune under our Umbrella Brand for India namely SOUL – We now intend to expand our Indian Distribution and take the Brand Pan India within the next 18-24 months”, added Mr. Bimal ThakkarDuring the quarter, ADF FOODS through its step down subsidiary companies has acquired well-known brands like PJ’s Organics, Nates and Elena’s Kitchen and has also purchased certain assets, rights and assumed certain liabilities from Elena’s Food Specialties Inc., California. Elena’s Food Specialties Inc., California, was a loss making company before its assets were acquired and ADF has managed to stop the cash loss in the very first two months of its acquisition.About ADF Foods Ltd.What started as a humble venture back in 1932 of a small retail store selling dry fruits & nuts, soon diversified into a major food processing company manufacturing ethnic Indian pickles, chutneys, canned foods, frozen foods and spices under various brand names which are leaders today in their segments, categories and markets. ADF’s international brands like Ashoka, Camel, Aeroplane, Khansama and Truly Indian have reached many parts of the world.Apart from marketing and distributing its own brands, ADF are also contract manufacturers for leading multinationals and main stream retailers worldwide. The company has been awarded the Best FMCG (Fast Moving Consumer Goods) Company in the Agri-Business Sector (SME Sector) and the Best Overall Exporter of the Year Award (SME Sector) 2008-2009 by DHL-CNBC International Awards.ADF Foods Ltd. is listed on the Bombay Stock Exchange and National Stock Exchange.