ADF Foods Announced Q1FY23 Result :

• Revenue in Q1 FY23 increased by 12.4% YoY to Rs. 97.2 Cr
• Gross Margins for Q1 FY23 increased by 26.9% to Rs. 47.9 Cr
• EBITDA in Q1 FY23 stood at Rs 9.1 Cr; EBITDA Margin in Q1 FY23 stood at 9.3%. This decrease is primarily driven by inflationary pressure in prices of raw materials, higher freight cost and supply chain disruptions in US based subsidiary
• PAT in FY22 stood at Rs. 7.6 Cr
• Launched new products under brand ‘Ashoka’ in the categories of ready to eat, ready to cook and pickles
• Company is ready to launch various products under brand ‘ADF Soul’ through e-commerce in India in Q2 FY23

Commenting on the Results, Mr Bimal Thakkar – Chairman & Managing Director said, “We have entered FY23 on a positive note and are confident to scale up our business on a sustainable basis. We have further strengthened our product portfolio through launch of products in ready to eat, ready to cook and food accompaniments categories under Ashoka brand. Further, to expand our presence in India, we are ready to launch sauces, pickles and chutneys under Soul brand through e-commerce in Q2 FY23. The company is really excited and is looking forward to this growth journey. The Company has recently taken a price hike to mitigate inflationary pressures, the impact of which will be reflected in coming quarters. Apart from this price hike, we are also witnessing softening of raw material prices and freight cost which will also have a positive effect on margins going forward. ”

Result PDF