ADF Foods Net jumps 55% in FY10, EBIDTA increased

EBIDTA margins at 23.41% & EPS at Rs 8.33 in FY10

ADF Foods Limited recorded a jump of 55% in PAT to Rs. 15.81 crore for the FY ending March 2010 compared to Rs. 10.20 crore for the FY ending March 2009. For the same period the total income has increased to 9.80% from Rs. 99.67 crore to Rs. 109.44 crore.

EBIDTA margins have improved from 19.41% in FY 2009 to 23.41% in FY 2010. Net Profit Margins have improved from 10.23% in FY 2009 to 14.45% in FY 2010.

EBIDTA has increased to Rs. 25.62 crore in FY 2010 from Rs. 19.35 crore in FY 2009. The Earning Per Share for FY 2010 stands at Rs. 8.33 compared to Rs. 5.54 in FY 2009.

The board of directors in their meeting held on 20th May 2010 proposed dividend at the rate of 15%

Mr. Bimal Thakkar, MD ADF Foods Ltd, said, “The improvement in the net margin is mainly due to better product mix, forex gains, improved cost efficiencies and decline in the finance cost. Going forward we are cautiously optimistic of growth in this financial year. Globally markets are showing some signs of recovery and with our entry in the Indian market, we expect the overall growth to be around 20%”.

The company has made its foray into domestic market with launch of its new umbrella brand ADF SOUL in February 2010 with its new Virgin Olive Oil pickles, Ready to eat curries and traditional pickles. The company is scouting for acquisitions in the overseas market upto Rs. 100 crores in Ethnic / speciality food business synergetic to its existing business for moving up the value chain in distribution and supply chain management.

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 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.