Packaged Foods company Agro Tech Foods announced Q4FY23 & FY23 results: Q4FY23 Foods Revenues of Rs 103 crore - 3% higher than Q4FY22 FY23 Foods Growth of 9% Both Foods & Staples show moderate growth on a full-year basis in Gross Margin (GM) GM of Rs 97 crore in Foods and Rs 77 crore in Staples FY23 Other Expenses higher than FY22 by Rs 13 crore – Restoration of Travel and Increase in Freight the largest component. PBT & PAT for FY23 is Rs 20.4 crore & Rs 15.1 crore respectively Result PDF
Packaged foods firm Agro Tech Foods announced Q3FY23 results: Q3FY23: Foods Revenues of Rs 116 crore - growth of 7% vs PY. Diversified portfolio helps to achieve moderate growth despite RTC base impact. Staples Margins hold up well. YTD GM of Rs 53 crore (PY Rs 55 crore). Q3 Gross Contribution on Foods back to historical 45%+ level With good margin visibility A&P; investment in the Quarter increased – up by Rs 2.6 crore vs. PY. Will help to address RTC growth. Employee Benefits up by Rs 1 crore vs PY due to hiring. Other Expenses include Rs 1 crore increase vs PY due to higher travel. PBT & PAT for the Quarter are Rs 9.3 crore & Rs 6.8 crore respectively. Result PDF
Agro Tech Foods declares Q4FY22 result: Steady foods growth in Q4 of 12% with YTD Growth of 15%. Moderation in Q4 input cost inflation to 11% due to base effect. Marginal impact of Ukraine war due to inventory levels & cover. YTD Edible Oils GM of Rs. 75 crore performs well vs PY (Rs. 72 crore). YTD Foods GM lower by Rs. 12.8 crore reflecting: Input Cost Inflation (-) Rs. 30.6 crore Price Increases + Rs. 6.9 crore. Volume Growth + Rs. 10.9 crore. Franchising of Crystal w.e.f. November 1st as planned. Consequently overall Company GM% decline vs PY limited to 160 bps. • YTD SG&A; largely flat to PY. Higher CSR provisioning, Travel and Royalty offset by one time gains in Insurance & Office Lease. PBT/PAT are +83%/+151% vs PY. YTD figures are -20%/-19%. Continued strong growth in Foods with Volume Led Revenue Growth of 15% over FY’21. Oils GM at Rs. 75 crore holds up well vs PY indicating we have been largely successful with the price correction of FY’21. Exit from Mass Oils accelerated with franchising of Crystal effective November, 2021. Impact of commodity inflation on Total Company GM mitigated. Exiting FY’22 with strong Volume Momentum and improved Gross Margins and Profitability in Q4 vs Prior Year Result PDF
Packaged Food company Agro Tech Foods declares Q3FY22 result: Steady Foods Growth in Q3 of 10% with YTD Growth of 17%. Commodity inflation in Q3 higher than expected at 15%. Raw Material inflation down but increased Packaging Material inflation. YTD Edible Oils GM holding up well at Rs. 55 crore. YTD Foods GM lower by Rs. 10.5 crore reflecting: Higher Commodity Prices (-) Rs. 24.5 crore. Price Increases + Rs. 7 crore. Volume Growth + Rs. 7 crore. Exit from Crystal w.e.f. November 1st as planned. YTD SG&A; flat to PY with the exception of higher CSR provisioning and Royalty. Doubtful Debts provision in PY offsets higher travel cost. PBT/PAT are -15%/-17% vs PY. Result PDF