While announcing September quarter (Q2FY21) results on November 9, the management said that all businesses including exports of ethnic food, US business, and agency distribution were seeing good growth.
The company’s facilities are currently operating at pre-covid levels and seeing increased demand in the prepared food segment with significant changes in consumer habits. The management believes that the company is well placed to tap the growing opportunities on the back of its brand reputation, global distribution network, and robust balance sheet.
The company’s total debt as of September 30, 2020, stood at Rs 13 crore, which constitutes short-term borrowings. Total cash and cash equivalents stood at Rs 74 crore.
For Q2FY21, ADF Foods
had reported 36 per cent year-on-year (YoY) growth in profit after tax at Rs 12.60 crore, on the back of a 52 per cent YoY jump in the total income of Rs 96.80 crore. EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin remain robust at 19 per cent, but contracted by 400 basis points from 23.2 per cent in the previous year quarter.
The “Agency distribution segment” where the Company acts as distribution agent of food products for a fast-moving consumer goods (FMCG) global major across the US and UK markets, contributed Rs 20 crore revenues in Q2FY21, it said.