ADF Foods is currently trading at Rs. 804.10, up by 4.55 points or 0.57% from its previous closing of Rs. 799.55 on the BSE.
The scrip opened at Rs. 804.55 and has touched a high and low of Rs. 810.00 and Rs. 796.00 respectively. So far 360 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1049.00 on 24-May-2021 and a 52 week low of Rs. 332.75 on 09-Sep-2020.
Last one week high and low of the scrip stood at Rs. 811.00 and Rs. 707.60 respectively. The current market cap of the company is Rs. 1600.92 crore.
The promoters holding in the company stood at 31.42%, while Institutions and Non-Institutions held 11.65% and 56.93% respectively.
ADF Foods’ Wholly Owned Subsidiary---ADF Holdings (USA) is planning to make an investment upto $5 million, which would entail asset purchase and setting up of a step down subsidiary in the United States. ADF Holdings (USA) will have a 70% stake in the share capital of the proposed Step Down Subsidiary. The proposed subsidiary will be a distribution company and will help the company move up the value chain. This will further strengthen its penetration and distribution with the retailers with an enlarged product portfolio.
The company has been investing in building a robust distribution network with uninterrupted supply as a precursor to their increasing capacities. The last quarter, the Company had commenced operations from their leased warehouse of 66,000 Sq. ft. in the US, which serves as a distribution center for the Company. The Company also recently made additions in the senior sales and marketing team.
ADF Foods manufactures and processes a wide range of canned, bottled and processed vegetables fruits and foods for the export and domestic markets with a manufacturing capacity of 12,600 tpa.
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