Megastar Foods Limited reports results for Half year and financial year ended March 31, 2020

Megastar Foods Limited (BSE: 541352), a leading player in the food product, has reported results for second half year and financial year ended March 31, 2020.

FY20 performance:

- Total income for FY20, stood at Rs. 16322.31 Lakhs, compared to Rs. 14236.53 Lakhs in FY19, up 14.65% YoY

- EBIDTA for the period was Rs. 922.54 Lakhs, compared to Rs 749.31 Lakhs in FY19, up 23.12% YoY

- EBIDTA margin for the period was 5.65%, compared to 5.26% in FY19.

- Towards the end of the year, operations were little bit impacted due to the COVID-19 Pandemic anid which subsequenily isipacied corporate demand since March 23, 2020.

- Reported Net Profit after Tax for FY20 stood at Rs. 337.85 Lakhs, up 39.28% YoY

- Cash Profit for the period was Rs. 464.12 Lakhs, compared to Rs 340.81 Lakhs in FY19, up 36.18% YoY

Commenting on the performance, Mr. Vikas Goel, Chairman, Managing Director, Megastar Foods Limited said, "In these extraordinary times, I am extremely proud of the performance, our team has delivered while ensuring the safety and well-being of each other. We believe that this crisis would bring significant changes in consumer behaviour towards health, hygiene and nutrition, which could be an opportunity for us. We will continue to invest and innovate to tap these evolving consumer needs. Our aim would be to deliver growth along with robust profitability through focusing on cost management and balance sheet quality."

Source : Equity Bulls

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