ADF Foods Ltd

ADF Foods Ltd

₹ 226 -1.97%
24 Apr 11:53 a.m.
About

ADF specializes in the production and export of a variety of traditional Indian food products, including pickles, chutneys, pastes, sauces, ready-to-eat meals, frozen, and canned foods. Its market spans Europe, the US, Australia, and the Gulf. Additionally, ADF Foods UK Limited and ADF Holding USA Limited operate as agents distributing FMCG products in the USA and UK respectively.

Key Points

Product Portfolio
ADF has 400+ SKUs spread across eight brands. These include frozen snacks, Indian breads, and vegetables, as well as ready-to-eat meals, side dishes such as pickles and chutneys, condiment pastes, cooking sauces, spices, and milk-based beverages. [1]

  • Market Cap 2,482 Cr.
  • Current Price 226
  • High / Low 262 / 148
  • Stock P/E 33.3
  • Book Value 40.9
  • Dividend Yield 0.42 %
  • ROCE 20.4 %
  • ROE 15.1 %
  • Face Value 2.00

Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 20.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.6%

Cons

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
68 71 59 74 87 82 72 83 100 98 85 97 103
53 53 50 58 73 68 65 68 74 70 63 75 77
Operating Profit 15 18 9 16 14 14 7 15 26 28 21 23 26
OPM % 22% 25% 15% 21% 16% 17% 10% 19% 26% 29% 25% 23% 26%
1 1 3 1 2 4 4 3 3 1 2 3 3
Interest 0 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 1 2 1 1 1 1 1 1 1 1 1 1 2
Profit before tax 14 17 11 15 14 16 9 17 27 27 22 24 27
Tax % 25% 25% 24% 27% 25% 27% 22% 25% 28% 26% 26% 26% 26%
11 13 8 11 11 12 7 13 19 20 16 18 20
EPS in Rs 1.08 1.29 0.82 1.08 1.07 1.13 0.67 1.19 1.75 1.85 1.49 1.61 1.84
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
112 130 142 149 161 165 164 188 194 237 302 353 383
93 115 119 129 133 144 146 152 156 185 248 276 285
Operating Profit 20 15 23 21 28 22 18 36 39 52 54 77 98
OPM % 18% 12% 16% 14% 17% 13% 11% 19% 20% 22% 18% 22% 26%
3 11 4 8 4 6 18 14 9 4 9 10 9
Interest 1 2 1 1 1 1 1 1 1 1 1 1 1
Depreciation 5 4 7 7 8 4 4 4 6 6 6 6 6
Profit before tax 17 20 18 21 22 22 31 44 41 49 56 81 101
Tax % 32% 21% 31% 30% 37% 35% 28% 31% 22% 25% 26% 26%
12 16 12 15 14 14 22 30 31 37 41 60 75
EPS in Rs 1.15 1.42 1.13 1.33 1.28 1.35 2.10 3.04 3.14 3.67 3.96 5.46 6.79
Dividend Payout % 27% 22% 27% 23% 0% 38% 0% 0% 19% 17% 21% 19%
Compounded Sales Growth
10 Years: 11%
5 Years: 17%
3 Years: 22%
TTM: 14%
Compounded Profit Growth
10 Years: 19%
5 Years: 21%
3 Years: 22%
TTM: 45%
Stock Price CAGR
10 Years: 38%
5 Years: 36%
3 Years: 9%
1 Year: 52%
Return on Equity
10 Years: 12%
5 Years: 14%
3 Years: 14%
Last Year: 15%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 21 22 22 22 22 22 22 20 20 20 21 22 22
Reserves 108 133 142 153 167 176 187 190 211 250 319 403 427
16 26 15 8 6 5 1 0 23 1 0 2 1
22 20 25 25 23 26 31 27 32 50 51 39 51
Total Liabilities 166 202 205 209 219 228 241 238 287 321 391 467 502
44 72 67 76 70 70 70 69 77 77 81 96 100
CWIP 1 0 9 2 0 1 0 1 2 0 0 1 2
Investments 44 36 38 26 66 69 57 58 84 87 126 168 174
78 94 92 105 83 89 113 110 123 156 184 202 226
Total Assets 166 202 205 209 219 228 241 238 287 321 391 467 502

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
8 -0 23 -3 44 18 21 24 36 26 38 25
-11 -15 -4 18 -40 -5 7 -4 -52 -8 -46 -55
0 13 -15 -13 -6 -12 -11 -32 14 -7 18 18
Net Cash Flow -2 -3 4 2 -2 1 17 -12 -2 10 11 -12

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 87 94 73 75 70 69 89 82 82 84 74 92
Inventory Days 160 170 129 113 114 101 115 141 153 132 137 121
Days Payable 37 41 51 35 39 37 57 59 76 79 86 54
Cash Conversion Cycle 210 222 151 153 145 134 146 164 160 137 125 158
Working Capital Days 120 183 156 185 129 131 127 132 116 123 108 129
ROCE % 13% 8% 10% 10% 13% 12% 16% 22% 18% 19% 19% 20%

Shareholding Pattern

Numbers in percentages

7 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
31.42% 31.42% 31.42% 33.58% 36.59% 36.60% 36.60% 36.50% 36.50% 36.29% 36.28% 36.42%
10.00% 10.04% 10.06% 9.66% 9.31% 9.37% 9.44% 9.38% 9.46% 9.57% 9.57% 9.55%
1.65% 1.66% 1.67% 1.59% 6.03% 7.03% 7.67% 7.88% 7.91% 7.91% 8.01% 8.64%
56.93% 56.88% 56.85% 55.17% 48.07% 47.00% 46.30% 46.24% 46.12% 46.24% 46.15% 45.39%
No. of Shareholders 27,97927,45828,65927,50627,59928,70326,55426,38326,15131,52639,81240,411

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

Documents

Concalls