Shares of ADF Foods Ltd. surged nearly 7%, reaching a day’s high of Rs 242.90 on 20th August, after the company announced that equity worth a little over Rs 100 crore had changed hands in a block deal.

A total of 44 lakh equity shares, representing a 4% stake in ADF Foods, were traded on the NSE, though the buyer and seller were not disclosed. This led to a nearly 7% rise in the stock.

ADF Foods Industries reported a 14.69% increase in standalone net sales, reaching Rs 97.02 crore for the three months ending June 2024, compared to Rs 84.59 crore in June 2023.

The standalone net profit for the quarter rose by 4.66% to Rs 17.13 crore, compared to Rs 16.36 crore in the same quarter last year. EBITDA also improved by 6.57% to Rs 25.15 crore from Rs 23.60 crore in June 2023.

However, the company’s EPS saw a sharp decline to Rs 1.56 in June 2024, down from Rs 7.45 in the year-ago period.

The company specialises in meal accompaniments, canned and ready-to-eat foods, and frozen products. Its brands include Ashoka, Truly Indian, Camel, Aeroplane, ADF Soul, Nate’s, and PJ’s Organics.

The company’s market capitalisation rose to Rs 2,566 crore.

At 3:30 PM, the shares of ADF Foods closed 3.25% higher at Rs 234.90 on NSE.

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