ADF Foods Ltd to set up greenfield manufacturing facility in Gujarat

The Board of directors of ADF Foods Ltd at its meeting held today, has approved the proposal of setting up a Greenfield manufacturing facility in Gujarat.

The company's existing capacity is at 28,000 Metric Tonnes per annum (achievable capacity - 20,800 Metric Tonnes per annum) and capacity utilization is 56% of installed capacity (76% of achievable capacity). Out of total achievable capacity of 20,800 MTPA, 1,950 MTPA has been added in March, 2021.

The company will be adding 9,840 Metric Tonnes capacity per annum during Phase I of expansion project at an outlay of approx. Rs. 60 crores. The funds will be raised through internal accruals and term loan.

The proposed Greenfield project will help the Company to scale up its production in its core verticals i.e. frozen bread, snacks, ready-to-eat products & chutneys.

Shares of ADF FOODS LTD. was last trading in BSE at Rs.1044 as compared to the previous close of Rs. 1022.55. The total number of shares traded during the day was 8494 in over 1098 trades.

The stock hit an intraday high of Rs. 1049 and intraday low of 1008. The net turnover during the day was Rs. 8823601.

Source : Equity Bulls

Keywords