ADF Foods posts record sales in Q2
ADF Foods, an ethnic food business, announced their results for the quarter ended September 30, 2011, with an increase in net sales at Rs 53.25 crore from Rs 52.26 crore as of September 2010 on a standalone basis.
On consolidated basis (not comparable), net sales has increased by 42% to Rs 74.70 crore compared to Rs 52.74 crore in the corresponding period last year.
The company has reported a jump of 11% in its EBITDA to Rs 13.88 crore compared to Rs 12.45 crore in FY10. On the consolidated level, EBITDA has increased to Rs 12.42 crore compared to Rs 12.14 crore in the corresponding period last year.
Commenting on the Company’s performance, Bimal Thakkar, Managing Director, ADF Foods mentioned, "The US acquisition of Elena’s has achieved break-even for the month of September on EBIDTA basis. ADF SOUL brand in India is already in roll-out phase and should be pan-India by end of next financial year. The company’s performance is in line with our commitment to growth."
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 Foods like Indian pickles, chutneys, canned foods, frozen foods and spices under various Brand names which are today leaders in their segments and categories. ADF’s international brands like Ashoka, Camel, Aeroplane, Khansama and Truly Indian have reached many parts of the world. Our Indian brand SOUL was launched last year with the introduction pickles made in 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.
ADF Foods Ltd is listed on the Bombay Stock Exchange and National Stock Exchange
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