The shares of this FMCG stock engaged in the business of manufacturing and trading of edible oils and food products came into focus on Thursday after the promoter bought 1.55 lakh shares for Rs 12.4 crore.
Stock Performance
With a market capitalization of Rs 2,978.99 crore, Agro Tech Foods Ltd rose over 2 percent in Thursday’s trading session and made an intraday high of Rs 795.85 per share compared to its previous closing price of Rs 776.65 per share. The shares reiterated from the day’s high and were trading at Rs 790.25 which is 1.7 percent higher than the previous close.
What Happened
Agro Tech Foods Ltd, also known as Sundrop Brands, engaged in the business of manufacturing and trading of edible oils and food products, recently experienced a block deal where promoter entity CAG-Tech (Mauritius) bought 1.55 lakh equity shares in the company at an average price of Rs 797.8 per share from Infinity Portfolio Holdings. The total transaction value amounted to Rs 12.4 crore. The promoter entity, CAG-Tech (Mauritius) now holds a 33.47 percent stake in the company.
Company Overview
Agro Tech Foods Ltd mainly specializes in the business of manufacturing and trading of edible oils and food products. It has a diversified product portfolio including instant popcorn, nachos, peanuts, choco spreads and hummus. The company’s subsidiaries include Sundrop Foods India Pvt Ltd, Sundrop Foods Lanka (Pvt) Ltd and Agro Tech Foods (Bangladesh) Pvt Ltd.
Financials
When looking at the financial statements, the company reported an 8 percent increase in its revenue from Rs 193 crore in Q3 FY24 to Rs 208 crore in Q3 FY25. This was accompanied by a 55 percent growth in net profits from Rs 2.5 crore to Rs 3.9 crore during the same period.
Written by Shwetha Sairam
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