ADF Foods on Friday said it has commenced commercial production of frozen breads, snacks and ready to eat products at its manufacturing facility in Surat, Gujarat from 25 March 2021.
Earlier in November 2020, the company's board approved the proposal of leasing a manufacturing facility in Gujarat to enhance the production capacity.Previously the company produced 5,500 metric tonnes per annum for frozen breads, snacks and ready to eat products, with the capacity utilization levels at 80%.
The new Surat facility will enhance the company's capacity to 1,950 metric tonnes per annum. The capacity was added to fulfil increased demand of these products for export.
ADF Foods is engaged in the business of meal accompliments, can food & ready-to-eat and frozen foods. The firm manufactures and exports food products, such as pickles, chutneys, ready to eat items, paste and sauces, frozen foods and spices.
The company's consolidated net profit jumped by 26.45% to Rs 13.91 crore on a 33.46% increase to Rs 98.57 crore in Q3 FY21 over Q3 FY20.
The scrip jumped 4.71% to settle at Rs 878.30 on the BSE on Friday.
In the past one year, the stock has zoomed 449.80% while the benchmark Sensex has added 63.65% during the same period.
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