ADF Foods Share Price

Incorporated on August 27, 1990 ADF Foods Ltd (Formerly known American Dry Fruits Limited) went public in Oct.91. The company was promoted by Hariram Mewawala, Ramesh Thakkar and Kishore Thakkar. Mewawala has over 60 years of business experience and was instrumental in setting up American Dry Fruits Stores, a governmentrecognised export house.The company operates in the agrobased industry, manufacturing and processing a wide range of canned, bottled and processed vegetables fruits and foods for the export and domestic markets (cap. : 12,600 tpa).Within the country, the company markets pickles and masalas under the brand name Mothers Recipe. The export performance of the company in the ethnic Indian food line is a major contributor to its turnover. It markets its products through American Dry Fruit Stores under the Camel, Aeroplane and Ashoka brands. ADFS has established marketing and sales network over two decades in the US, UK, Germany, west Asia, Singapore, east Asia and Australia.In 199596, the company successfully completed the expansion and modernisation of its existing facilites at Nadiad, Gujarat and Nashik, Maharashtra, to manufacture spices and masalas. During the year, the companys Nadiad factory has been awarded the prestigious ISO 9002 certification by BVQI, UK. The company has tied up with a new company in Sep.97 for distribution of its products in the ethnic market as well as for introduction of select products in the mainstream market in UK.During 19992000, the company has launched its MOTHERS RECIPE brand of South Indian Pickles in U.S. which was well received and intends to introduce in U.K. and Canada as well. Another premium brand namely CLASSIC ASHOKA was introduced in U.K. U.S. markets, product range covers authentic regional pickles, cooking pastes, chutneys and ready meals. The company has changed its name to ADF Foods Limited from December 1999. To launch the forzen foods in UK the company has incorporated a subsidiary company in UK in 200203. The company is planning to set up a factory in Gujarat as a part of its expansion plans.During financial year 200304 the Company set up an E.O.U. Division at Nadiad for manufacturing of frozen food products and the production in the said Division commenced from 21st April, 2004. Frozen snacks such as Samosas, spring rolls, kachori, Potato Wada, Dhokla were launched in the countries like USA, UK, Canada Middle East. Moreover new variants were added in Ready to Eat Curries in retort packs during 2005. It established a new undertaking under EOU scheme for manufacturing of Pickles, Chutneys, Cooking Paste, Sauces and Retort ready to eat at its Nasik Plant in 200405. The Company incorporated a Wholly Owned subsidiary viz. ADF Foods USA Ltd. in the U.S.A. on January 18, 2005.During 200607, the amalgamation of Lustre Investment Private Limited (LIPL) with the Company was implemented and made effective from 10th October, 2007. On amalgamation becoming effective, Power Brands (Foods) Private Limited (PBF) became a 99% subsidiary of the Company. The Company set up new production line for frozen parathas, naan and snacks at Nadiad factory and has enhanced its production capacity by setting up a new line for pickle, chutney and readytoeat products at Nashik factory in 2007. Company expanded its Chutney and Pickle line at the Nadiad factory by importing machinery from UK, upgraded the effl uent treatment plant and renovated readytoeat plant in 200809. It further expanded its distribution in Gujarat and Madhya Pradesh in addition to its existing presence in Mumbai and Pune in 201112, again expanded its distribution network in Uttar Pradesh, Delhi and Bangalore in addition to its existing presence in Mumbai, Pune, Gujarat and Madhya Pradesh in 201213. The Companys acquired business of Elenas Food Specialties in 2013. It introduced four new burritos under the brand PJs Organics. The Company has also introduced a unique range of protein based Ethnic Indian foods such as Kathi Rolls and Indian style Pizzas called NAANZZA under its brand ADF SOUL in 201415. The new manufacturing plant at Nadiad became fully functional in 2015. During the year 201819, it launched various new products like baked snacks, a range of flavoured milk drinks called Badamazaa and a range of pastes under Ashoka and Camel brands. In 201920, it launched new products underAshoka brand like FrozenChutneys, Bullet Naan (Masala Naan), Tandoori Lachha Naan, Veg Spring Rolls, Cheese Samosa, Vegetable Samosa, Malaysian style Plain Paratha and extended its current product line of Dipping Sauces with a new variant called Chatpata Achari Dipping Sauce under the ambient range. In addition, the Company initiated a Capex of Rs 20 crore for expansion of premium product capacities in both the facilities, setting up an Effluent Treatment Plant (ETP) with zero liquid discharge at Nasik facility and installation of solar panels in both the facilities for captive consumption. A large part of Capex has been committed with enhanced product capacities and automation of Chutney and Pickle lines. ETP with zero liquid discharge was commissioned at Nasik plant. The Solar power project in Nasik had gone on stream and started generating power and the excess units exported back to the MSEB grid.In 202122, the Company commenced operations from leased warehouse in the New Jersey, USA which serves as a distribution Center for it, to ensure uninterrupted product supply. It established a stepdown subsidiary named Vibrant Foods New Jersey LLC, which acts as a distribution entity. It formed an Indian Subsidiary named Telluric Foods Limited of carrying out ecommerce or any other new age business in food sector effective on May 17, 2022. Further, the Company formed another Indian Wholly Owned Subsidiary on 8th July, 2022 named Telluric Foods (India) Limited for providing back end support for ecommerce activities related to food business. On 30th September, 2022, Telluric Foods Limited was converted into step down Wholly Owned Subsidiary of the Company.