Financials ADF Foods Limited NSE India S.E.

Equities

ADFFOODS

INE982B01027

Food Processing

Market Closed - NSE India S.E. Other stock markets 07:43:47 2024-05-03 am EDT			5-day change	1st Jan Change
225.4 ^INR	+1.58%		+1.85%	+12.59%

Feb. 29	ADF Foods Limited Receives an Order of Adjudication of Penalty from the Registrar of Companies - Gujarat and Adjudicating Officer	CI
Jan. 31	Transcript : ADF Foods Limited, Q3 2024 Earnings Call, Jan 31, 2024

Valuation

Fiscal Period: March	2019	2020	2022	2023	2024	2025
Capitalization ¹	4,825	3,412	16,226	16,332	24,873	-
Enterprise Value (EV) ¹	4,825	3,412	16,226	16,332	24,873	24,873
P/E ratio	-	7.98 x	33.2 x	29 x	36.5 x	29.7 x
Yield	-	-	-	-	0.57%	0.66%
Capitalization / Revenue	2.09 x	1.25 x	-	3.63 x	4.89 x	4.06 x
EV / Revenue	2.09 x	1.25 x	-	3.63 x	4.89 x	4.06 x
EV / EBITDA	9.14 x	5.46 x	-	17.8 x	25.1 x	19.6 x
EV / FCF	-	-	-	-	-	-
FCF Yield	-	-	-	-	-	-
Price to Book	2.81 x	1.67 x	-	3.9 x	5.34 x	4.51 x
Nbr of stocks (in thousands)	100,114	100,114	104,831	109,864	109,864	-
Reference price ²	48.20	34.08	154.8	148.7	226.4	226.4
Announcement Date	5/22/19	5/11/20	5/20/22	5/6/23	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March	2019	2020	2022	2023	2024	2025
Net sales ¹	2,314	2,728	-	4,503	5,083	6,130
EBITDA ¹	527.8	625.3	-	918.5	989	1,269
EBIT ¹	-	-	-	-	966	1,241
Operating Margin	-	-	-	-	19%	20.24%
Earnings before Tax (EBT) ¹	-	553.1	-	754.6	944	1,145
Net income ¹	-	427.7	481	558.5	687	840.7
Net margin	-	15.68%	-	12.4%	13.52%	13.71%
EPS ²	-	4.272	4.666	5.124	6.200	7.625
Free Cash Flow	-	-	-	-	-	-
FCF margin	-	-	-	-	-	-
FCF Conversion (EBITDA)	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-
Dividend per Share ²	-	-	-	-	1.300	1.500
Announcement Date	5/22/19	5/11/20	5/20/22	5/6/23	-	-

¹INR in Million²INR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3
Net sales ¹	-	1,231	1,124	-	1,321
EBITDA ¹	-	270.4	243.7	-	-
EBIT	-	-	-	-	-
Operating Margin	-	-	-	-	-
Earnings before Tax (EBT) ¹	-	228.6	202.8	214	220.4
Net income ¹	185.2	160.9	150.4	159.8	161
Net margin	-	13.07%	13.38%	-	12.18%
EPS ²	-	1.486	1.370	1.454	1.470
Dividend per Share	-	-	-	-	-
Announcement Date	1/30/23	5/6/23	8/7/23	-	-

¹INR in Million²INR

Estimates

Balance Sheet Analysis

Fiscal Period: March	2019	2020	2022	2023	2024	2025
Net Debt	-	-	-	-	-	-
Net Cash position	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-	-	-	-	-	-
Free Cash Flow	-	-	-	-	-	-
ROE (net income / shareholders' equity)	14.6%	22.7%	-	14.7%	15.5%	15.8%
ROA (Net income/ Total Assets)	-	-	-	-	-	-
Assets ¹	-	-	-	-	-	-
Book Value Per Share ²	17.20	20.40	-	38.20	42.40	50.20
Cash Flow per Share	-	-	-	-	-	-
Capex ¹	-	-	-	-	120	400
Capex / Sales	-	-	-	-	2.36%	6.53%
Announcement Date	5/22/19	5/11/20	5/20/22	5/6/23	-	-

¹INR in Million²INR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for ADF Foods Limited

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

226.4 INR

Average target price

199 INR

Spread / Average Target

-12.10%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

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