Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Stock Report

| More

Oceanic Foods Limited announces H1 FY20 results

Posted On: 2019-11-25 11:20:59

Oceanic Foods Limited (OFL) set up in 1972 at Jamnagar, is India's leading manufacturer& exporter of dehydrated vegetables & herbs. A pioneer in the Dehydration Industry in India, OFL currently has processing capacity of 20 MT Dehydrated Vegetables per day, client including the large MNC's.

Oceanic Foods Ltd has world class manufacturing facilities situated in Jamnagar, Gujarat. OFL has implemented HACCP System Standards, being the 1st Indian company to receive a HACCP Certificate in Dehydration Industry in India. The products are Halal and Kosher Certified. The manufacturing facilities have domestic and international approvals including US FDA, SEDEX (SMETA - Sedex Members Ethical Trade Audit) audit and successfully attained latest quality standard "BRC 8.0 - A Grade" certification.

Highlights of 1H FY20 Results - Strong Performance on all parameters

- Revenue up 21.84% YoY and EBITDA up 15.51% YoY
- EBITDA margin maintained at 8.23%
- PAT at Rs. 1.71 crores, up 22.14% YoY.

Revenue Growth: Total Revenue for the 6 months of H1 FY20 at Rs. 44.35 crores, up 21.84% YoY compared to Rs. 36.40 crores YoY. Domestic sales grew by 23.66 % YoY.

Oceanic Foods Is Now Member in 'Golden Circle' of Nestle India Ltd: It's a moment of Pride that our company Oceanic Foods Ltd, is now a member in 'GOLDEN CIRCLE' of Nestle India Ltd as a valued supply partner.

Successfully attained FSA (Farm Sustainable Assessment) certification - working with dedicated farmers for its sustainable sourcing of raw materials with 100% traceability.

EBIDTA & PAT: EBIDTA reported in H1 FY20 at Rs. 3.65 crores vs EBIDTA of Rs 3.16 crores in the previous corresponding half year, up 15.51 % YoY. PAT for H1 FY20 reported Rs. 1.71 crores, 22.14% up YoY vs Rs.1.40 crores in H1FY19.

Bonus Issue in June, 2019: A Bonus Issue was made in June, 2019 of 2:1, i.e.2 (Two) Bonus Equity Share of Rs. 10/- each fully paid up for every 1 (One) existing equity share of Rs. 10/- each fully paid-up held as on the record date of 28th June,2019. With this the equity share capital of the company increased to Rs.11.25 crore (consisting of 1.125 crore equity shares of Rs.10 each)

Commenting on the results, Mr. Tulan V. Patel, MD & CEO said "Over the last four decades, the company has established strong relationships, both in the domestic and export markets with clients including large Indian and MNCs companies. Catering to the food industry we have always believed in maintaining highest standards of quality and certification. The dehydrated food industry is at its nascent stages in India and offers potential for good growth. To capture the emerging opportunity, we intend to form a 100% wholly owned subsidiary for expansion and adding new business verticals.

We are confident of the way forward and our entire team is committed to consistent growth. We remain confident of the prospects for strong growth and improved profitability for the period ahead. I thank the entire team for their constant efforts, sincerity and enthusiasm. Also, I would like to thank our valued shareholders, who have reposed faith in our Company and supported us in our journey".

Shares of Oceanic Foods Ltd was last trading in BSE at Rs.54.3 as compared to the previous close of Rs. 54.75. The total number of shares traded during the day was 3000 in over 1 trades.

The stock hit an intraday high of Rs. 54.3 and intraday low of 54.3. The net turnover during the day was Rs. 162900.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Givaudan Partners with TCS to Transform its Global Data Center Operations

TCS Study Finds 78% of UK Companies Plan to Digitally Transform their Business Model Within 3 years

Qatar Investment Authority to invest INR 3,200 Crore in Adani Electricity Mumbai Limited

Mold-Tek Technologies Ltd enters into MOU with Italian and Indian Engineering Services Companies

KNR Constructions receives orders worth of Rs. 240.60 Crores from Greater Hyderabad Municipal Corporation

Infosys Awarded UN Global Climate Action Award in 'Carbon Neutral Now' Category at COP 25

TCS iON to Empower Kerala Youth with Future-ready Job Skills

City Union Bank Ltd opens new branches at Mylavaram and Mathikere

Future Supply Chain and Nippon Express Strategic Partnership aspires to be India's Leading Logistics Player

Hindustan Aeronautics Ltd signs MOU for wage revision

QGO Finance Ltd to issue 1,000 NCDs

Infosys Recognized as a 2020 'Top Employer' in Australia, Singapore and Japan

CRISIL reaffirms ratings on the bank facilities of Excel Industries Limited

JSPL commissioned its 4th Coke Oven Battery at Angul Steel Plant

L&T Technology Services Ltd launches Project Neelachala - a CSR Program for those affected by cyclone Fani

Airtel launches 'Airtel Wi-Fi Calling' - India's first Voice over Wi-Fi service

Everest Group recognizes L&T Technology Services as 'Leader' in Automotive Engineering Services

Announcing General Availability of Version 11 of Majesco Distribution Management Platform

ADNOC and Reliance Industries Limited Sign Agreement to Explore Development of Ethylene Dichloride Facility in Ruwais

CCI approves acquisition of stake in Future Supply Chain Solutions Limited by Nippon Express

Ethos Ltd opens two new stores at World Trade Park, Jaipur

Tasty Dairy Specialities Ltd enters into agreement with Noluma International

IDBI Bank to dilute stake in IDBI Capital Market Securities Ltd and IDBI Intech Ltd

Kimia Biosciences Ltd granted 'Site Certificate Under WHO-GMP Certification Scheme'

YES Bank board to reconvene on Dec 10, 2019 to continue discussion on investment proposals

Ministry of Technology and Communications, Oman and Wipro ink MoU to launch Open Source CoE

BEML launches new hydraulic excavator

Bharti Infratel Ltd board declares 2nd interim dividend of Rs. 2.75

Tata Motors Group global wholesales at 89,671 in November 2019

Ramco Systems in association with NelsonHall launches Digital Payroll Maturity Assessment Tool

Panacea Biotec announces launch of ViLACT for treatment of Uncontrolled Type 2 Diabetes Mellitus patients

STL to collaborate with IIT Madras for 5G advancements in India

Shashijit Infraprojects Ltd receives order from Vapi Nagar Palika

SC Soft, an Aurionpro Group Company, steps into Africa and Central America: Mexico with Automatic Fare collection projects

Subex and RAG announce first of its kind alliance to leverage Blockchain for combatting fraud

L&T Technology Services Ltd appoints Ms. Apurva Purohit as an Independent Director

Quick Heal Technologies Limited recognised by NASSCOM's DSCI as an industry pioneer in the Indian cybersecurity space

Chief Digital Officer Role Having Powerful Impact on Digital Transformation: Mindtree Survey

Aditya Birla Fashion and Retail Ltd appoints additional director, vice-chairman

Redington arm increases stake in Rajprotim Supply Chain Solutions Ltd to 100%

Grant Thornton releases interim physical survey report on more than 3,000 Nextgen Vakrangee Kendra

Dilip Buildcon Ltd receives order from Delhi Metro

Hero MotoCorp to increase prices of its products from Jan 1, 2020

HDFC Bank Ltd board to consider Q3 results on Jan 18, 2020

CRISIL downgrades PC Jeweller Ltd's ratings to default grade

Bharat Gears Ltd announces employee strike at its Lonand Unit

INSILCO Ltd updates on renewal of its applications with UPPCB and CGWA

CRISIL A2+ rating assigned to Newgen Software Technologies' short-term facilities

City Union Bank opens 3 new branches on Dec 9, 2019

AXIS Bank reappoints S Vishvanathan as independent director







Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019