Hindustan Foods Ltd.
Q2FY23 Quarterly Result Announced for Hindustan Foods Ltd.
FMCG company Hindustan Foods announced Q2FY23 results:
- Consolidated Q2 FY23:
- Revenues increased by 41% to Rs 663.7 crore in Q2FY23 from Rs 471.9 crore in Q2FY22
- EBITDA grew by 49% to Rs 44.0 crore in Q2FY23 from Rs 29.6 crore in Q2FY22
- PAT increased by 73% to Rs 18.9 crore in Q2FY23 from Rs 10.9 crore in Q2FY22
- Consolidated H1 FY23:
- Revenues increased by 35% to Rs 1,262.3 crore in H1FY23 from Rs 933.4 crore in H1FY22
- EBITDA grew by 46% to Rs 82.7 crore in H1FY23 from Rs 56.5 crore in H1FY22
- PAT increased by 61% to Rs 34.0 crore in H1FY23 from Rs 21.0 crore in H1FY22
Commenting on the results, Sameer R. Kothari, Managing Director said, “These are exciting times for us, as a contract manufacturer. We, at HFL, do believe that we are rightly positioned to capture the burgeoning market. Our performance over the past few years as indeed this quarter is symbolic of the same. Along with organic growth, we have also been able to pursue inorganic opportunities with the recent acquisition of Aero Care Personal Products LLP, and Reckitt Benckiser Scholl India Private Limited. We believe both these acquisitions will start to reflect incrementally to the business.
The Ice Cream project in Lucknow has commenced production and we believe we are geared to cater to the demand for the upcoming season. Similarly, with the expansion in the beverage facility in Mysuru, we believe we are fully geared to cater to the beverage demand starting from Q4 of this year.
Given the scale of the business as also the opportunity ahead for HFL, we have further strengthened our core management team, I am happy to share that Mr. Sunil Plakkat has joined us as President, Manufacturing Excellence. Mr. Plakkat is a chemical engineer with a prolonged experience in manufacturing operations in plant and corporate roles and has in the past worked with companies like Asian Paints and Atul Ltd.”
Commenting on the Financial Performance, Mayank Samdani, Group CFO said, “Our turnover for the quarter on a consolidated basis has increased by 41% YoY while the PAT rose by 73% YoY. This is on the back of the ramping up of all our facilities and the consolidation of the new acquisitions. We had a robust net cashflow from operations before taxes of Rs 43.78 crores for H1FY23.”