ADF Foods Ltd

About [ edit ]

ADF Foods is engaged in the Business of manufacture and selling of food products like pickles, chutneys, ready to eat items, paste and sauces, frozen foods, spices etc.

Key Points [ edit ]
  • Market Cap 1,790 Cr.
  • Current Price 893
  • High / Low 975 / 186
  • Stock P/E 36.9
  • Book Value 113
  • Dividend Yield 0.34 %
  • ROCE 28.4 %
  • ROE 22.9 %
  • Face Value 10.0

Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 42.74% CAGR over last 5 years

Cons

  • Stock is trading at 7.87 times its book value
  • Promoter holding has decreased over last quarter: -1.61%
  • The company has delivered a poor sales growth of 6.01% over past five years.
  • Promoter holding is low: 31.44%

Peer comparison

Sector: FMCG Industry: Food - Processing - Indian

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
56 49 60 59 64 66 60 74 80 74 94 99
49 43 49 52 52 56 49 61 66 61 78 80
Operating Profit 7 6 11 6 12 10 11 13 13 12 16 19
OPM % 13% 13% 18% 10% 19% 15% 19% 17% 17% 17% 17% 19%
Other Income 5 4 5 3 5 5 4 0 6 1 2 1
Interest 0 0 0 0 0 0 0 0 0 0 0 0
Depreciation 4 1 1 1 11 1 1 1 2 1 1 1
Profit before tax 9 9 15 7 6 13 13 11 17 11 17 18
Tax % 19% 33% 32% 30% 51% 30% 30% 2% 23% 24% 25% 23%
Net Profit 7 6 10 5 3 9 9 11 13 9 13 14
EPS in Rs 3.25 2.83 5.17 2.51 1.58 4.59 4.64 5.49 6.65 4.32 6.28 6.95

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
91 97 129 156 179 208 204 210 201 201 231 273 346
78 83 108 136 162 192 188 190 179 182 202 232 285
Operating Profit 13 14 21 20 17 16 16 20 22 19 29 41 61
OPM % 15% 14% 16% 13% 9% 8% 8% 9% 11% 10% 13% 15% 18%
Other Income 6 12 3 3 11 4 9 4 6 18 14 21 10
Interest 2 2 2 2 3 2 1 1 1 1 1 1 1
Depreciation 6 6 7 10 7 11 11 12 5 4 4 6 6
Profit before tax 11 17 16 10 17 7 12 11 23 32 38 55 64
Tax % 31% 23% 9% 41% 21% 32% 24% 39% 36% 44% 33% 22%
Net Profit 8 13 14 6 14 6 9 7 15 18 25 43 48
EPS in Rs 4.26 6.68 7.12 3.15 6.38 2.57 4.02 3.00 6.88 8.52 12.65 21.36 24.20
Dividend Payout % 36% 23% 21% 48% 24% 59% 38% -0% 37% -0% -0% 14%
Compounded Sales Growth
10 Years:11%
5 Years:6%
3 Years:11%
TTM:31%
Compounded Profit Growth
10 Years:16%
5 Years:43%
3 Years:44%
TTM:47%
Stock Price CAGR
10 Years:30%
5 Years:60%
3 Years:56%
1 Year:360%
Return on Equity
10 Years:10%
5 Years:13%
3 Years:16%
Last Year:23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
18 20 20 21 22 22 22 22 22 22 20 20 20
Reserves 64 81 91 92 127 126 131 136 145 153 151 184 207
Borrowings 2 1 34 37 43 28 18 6 5 1 -0 23 13
20 17 20 25 23 25 24 21 19 30 23 37 42
Total Liabilities 104 119 165 175 215 201 194 185 191 205 195 265 282
58 60 81 74 87 80 93 83 81 80 69 77 78
CWIP 4 1 1 1 0 9 2 0 1 0 1 2 0
Investments -0 -0 9 18 30 21 8 8 8 -0 -0 18 14
43 59 75 83 98 91 92 94 100 125 125 167 190
Total Assets 104 119 165 175 215 201 194 185 191 205 195 265 282

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
17 16 20 8 2 18 6 15 17 24 20 26
-5 -14 -27 -11 -23 5 18 1 -4 4 -1 -34
-5 4 13 2 18 -21 -21 -18 -12 -11 -32 14
Net Cash Flow 6 6 6 -1 -3 3 3 -1 1 17 -14 6

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 16% 16% 14% 8% 7% 4% 6% 7% 14% 19% 23% 28%
Debtor Days 29 38 87 67 76 53 58 63 62 78 69 71
Inventory Turnover 2.51 3.55 3.72 2.99 2.79 3.74 3.92 4.26 3.68 3.97 3.51 2.96

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
35.22 30.51 32.31 32.35 32.35 34.29 34.34 34.14 34.50 34.95 33.05 31.44
2.91 0.73 0.43 0.19 0.19 0.17 0.17 0.02 0.02 0.02 0.02 10.00
0.30 0.26 0.38 0.41 0.22 0.25 0.16 0.14 0.12 2.83 3.02 1.65
61.57 68.50 66.88 67.06 67.25 65.28 65.33 65.69 65.37 62.20 63.92 56.90

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