In Thursday’s trading session, the shares of a leading manufacturer of prepared ethnic foods surged by nearly 3 percent to Rs. 227.55 on BSE, after foreign investor Dovetail Global Fund PCC bought stake in the company through an open market transaction on NSE.
At 02:03 p.m., the shares of ADF Foods Limited were trading in the green at Rs. 225.5, up by 2.03 percent, compared to its previous closing price of Rs. 221.05, with a market cap of Rs. 2,478 crores.
What’s the News:
According to the 7th August bulk deal data available with the NSE, the foreign investor Dovetail Global Fund PCC – Marcellus India Fund bought 38.45 lakh equity shares in ADF Foods, at an average price of Rs. 220 per share, resulting in a total transaction value of nearly Rs. 84.6 crore.
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However, on the seller side, Infinity Holdings offloaded the same number of shares at the same average price of Rs. 220.
Financials:
The company experienced significant growth in its revenue from operations, showing a year-on-year rise of nearly 6.3 percent from Rs. 112.4 crore in Q1 FY23-24 to Rs. 121.6 crore in Q1 FY24-25.
However, its net profit decreased marginally during the same period from Rs. 14.7 crore to Rs. 14.4 crore, representing a decline of 2 percent YoY.
On a year-on-year basis, the EBITDA jumped from Rs. 21.1 crores in Q1 FY23-24 to Rs. 22.8 crores in Q1 FY24-25, representing a growth of 7.8 percent.
Stock performance:
The stock has delivered positive returns of nearly 5.5 percent in one year as well as around 12.8 percent returns in the last six months. So far in 2024, the shares of ADF Foods have given about 12.7 percent of positive returns.
About the company:
ADF Foods Limited is a consumer-focused company engaged in the manufacturing and selling of food products like pickles, chutneys, ready-to-eat items, paste and dips, sauces, frozen foods, spices etc. The company caters to both international markets and domestic markets.
The company manufactures, distributes, and markets Indian food along with organic Mexican and natural meat alternative foods.
Written by Shivani Singh
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