Q3FY22 Quarterly Result Announced for ADF Foods Ltd.
Packaged Foods company ADF Foods declares Q3FY22 result: Total Income for Q3FY22 at Rs. 118.7 Crores, up 19% YoY Total income for quarter ended December 31, 2021, stood at Rs 118.7 Cr, compared to Rs 99.5 Cr in Q3FY21, a growth of 19.3% YoY; the growth was driven by robust demand and improved realizations Better sales mix and price increases led to margin improvement at GP level, GP margins improved sequentially and annually to 54.5% in Q3FY22 compared to 42.5% in Q3FY21 EBITDA for the quarter was at Rs 20 Cr with EBITDA margin of 17% Rising freight costs directly impacted margins; freight cost had increased from Rs 4.0 Cr (4% of revenue) in Q3FY21 to Rs 15.24 Cr (13% of revenue) in Q3FY22 Reported Net Profit after Tax of Rs 13.6 Cr for Q3FY22, with a PAT margin of 11.5% Total income for nine months ended December 31, 2021, stood at Rs. 318.7 Cr, compared to Rs 270.8 Cr in 9MFY21, up 17.7% YoY, driven by growth across segments Gross profits stood at Rs 159.7 Cr up by 41.7% YoY with a margin of 50.1% EBITDA for the period was Rs.55.5 Cr, compared to Rs 51.6 Cr in 9MFY21, up 7.4% YoY EBIDTA margin continued to remain robust at 17.4% Freight costs during the year had increased from Rs 8.6 Cr (3% of revenue) in 9MFY21 to Rs 33.1 Cr (10% of revenue) in 9MFY22 Commenting on the performance, Mr. Bimal Thakkar, Chairman, Managing Director & CEO, ADF Foods Limited said, “We are pleased to report continuing strong performance this quarter with a total income growth of 19% YoY. Despite a challenging trade environment in terms of rising freight and other input cost, we have been able to keep up our robust margins on the back of improved realizations and optimized sales mix. The alliance with Patanjali will offer significant opportunities to our Company to expand our product basket with our retailers. Leveraging our robust distribution network, we can funnel complementary product categories directly in stores thereby offering our consumers a wider range of products at their convenience. This will also enable us to further tap into the growing Indian diaspora market in Europe. We will continue to invest in our manufacturing and also our distribution infrastructure, to capture the growing opportunities.” Result PDF01-02-2022