ADF Foods declares a 15% dividend to the shareholders

FY 11 revenue Jumps 23.82% to Rs 129.40 crore; EBIDTA increased 22.16 % to Rs 25.82 crore.

ADF Foods Limited, a leader in Indian Ethnic Food business, has declared a dividend of 15% which results in Rs 1.50 per share to all the shareholders. The decision has been taken in a board meeting held in Mumbai today.

During the same board meet, the company has announced it annual financial results for FY 2010-11. The company has reported a jump of 23.82 per cent in its total income to Rs 129.40 crore compared to Rs 104.51 crore in FY 2010.

While EBIDTA has increased by 22.16 % to Rs 25.81 crore compared to Rs 21.13 in the corresponding period last year. The company’s EBIDTA is 19.95 % for FY11.

Commenting on the Company’s performance, Mr.Bimal Thakkar, Managing Director, ADF Foods Limted mentioned, “Despite exorbitant increase in the input cost, the company was able to maintain margins and through concerted efforts, we have continued to make progress in consolidating our market position as the one of the leading manufacturers and suppliers of ethnic Indian food products. The acquisition of Elena’s Food Specialties, Inc. has helped us in increasing our footprint in the US market.”

The Company continued to maintain good margins in the domestic market, however, on a consolidated basis margins have been affected mainly due to the losses from the US acquisition.

“We will now strengthen our growth in India by expanding in Metros and Mini Metros. We expect to have a pan India distribution of “ADF SOUL” in the next 18 months. The response of “ADF SOUL” in Mumbai and Pune has been very encouraging”, added Mr. Bimal R Thakkar

About ADF Foods:
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 spice under various Brand names which are today leaders in their segments and categories. ADF’s international brands like Ashoka, Camel, Aeroplane, Khansaama and Truly Indian have reached many parts of the world. ADF has re-entered the Indian market with the brand SOUL, which has introduced for the first time the concept of Pickles made in Virgin Olive oil. Apart from marketing and distributing its own Brands, ADF Foods Ltd are also contract manufacturers for leading multinationals and Main stream Retailers worldwide. The recent acquisition of Elena’s Food Specialties Inc. in the USA has added well known brands PJ’S Organics and Nate’s to its existing portfolio.

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.