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Hindustan Foods Limited announces Q3 and 9M FY18 Financial Results

Posted On: 2018-02-16 23:32:28

Hindustan Foods Limited, a manufacturer of FMCG products announced its financial results for the third quarter and nine months ended on 31st December 2017.

The Gross Revenues of the Company grew by nearly 4 times Y-o-Y to Rs. 26.37 crores in the Q3 FY18 (cumulative 9M FY 18 - Rs. 76.08 crores; 12M FY17 - Rs. 38.08 crores); EBITDA has increased by 425% y-o-y to Rs. 2.45 crores in the Q3 FY18 (cumulative 9M FY 18 - Rs. 6.15 crores; 12M FY17 - Rs. 3.97 crores).

Commenting on the results Mr. Sameer Kothari, Managing Director said, "Now that much of the GST impact is behind us, the Company has been able to post a good growth this quarter. The sales and the profitability of the Company have grown manifold times as compared to the previous year. Additionally, the newly acquired Jammu plant manufacturing pesticide products commenced production on 2nd January, 2018. This will lead to a further increase in the numbers from Q4 FY18.

As already informed in the last quarter, the Company's board had approved a Capital Expenditure up to Rs. 25.00 crores for setting up a new plant at Coimbatore, the Company has commenced activity of setting up the new plant in Coimbatore for contract manufacturing of Tea products. We expect to start commercial operations at this unit from September, 2018.

The first store for our retail venture of the Company's leather brand, Un:Or went live in Goa this quarter and is performing well.

With the strategic organic and inorganic initiatives that the company is taking, we are confident of achieving a multifold growth in topline and bottomline of the company, the effects of which woutd be reflected partially in this financial year itself and with significantly higher impact in the next financiat year."

Shares of HINDUSTAN FOODS LTD. was last trading in BSE at Rs.383.2 as compared to the previous close of Rs. 403.35. The total number of shares traded during the day was 4510 in over 34 trades.

The stock hit an intraday high of Rs. 383.2 and intraday low of 383.2. The net turnover during the day was Rs. 1728232.

Source: Equity Bulls

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