Agro Tech Foods: Q4FY14 Result Analysis

Agro Tech Foods has reported a mixed bag of numbers for Q4FY14. Its topline for the quarter came in at Rs 188.66 crore as against Rs 205 crore reported during the same quarter last fiscal witnessing a de-growth of 8.04%.

Though the topline remained depressed and in fact was on the losing end, the company has fared quite well on other parameters. The EBITDA of the company grew by 4.87% on YoY basis to stand at Rs 21.74 crore for the said period and also the EBITDA margins expanded by 142 basis points to stand at 11.52%. The reason for improvement on the EBITDA levels is driven mainly by the raw material cost. The raw material cost on a YoY basis declined by 28.14% to stand at Rs 65.89 for Q4FY14. Also the raw material cost as a percentage of sales came down by 977 basis points on a YoY basis to stand at 34.93% for Q3FY14. Another fact that needs to be highlighted is that the ad spends as a percentage of sales have declined by 185 basis points on YoY basis to stand at 3.06% for Q4FY14 as against 4.92% reported during Q4FY13.

On the bottomline front, the PAT remained almost flat to come in at Rs 13.01 crore for Q4FY14 witnessing a de-growth of 6.27% on YoY basis. The reason for the same is due to fall in other income and higher finance cost. The board has also recommended a dividend of Rs 2 per equity share on the face value of Rs 10.

This is just a brief on the results. All the details pertaining to the volumes growth and others will be updated to our readers post the conference call of the company. Keep an eye on the space to know more on the results.