Scripscan:Freshtrop Fruits Ltd
cmp:21
Code:530077
Story:The company was formed in 1992 and exports fresh fruits to supermarket chains in Europe. It has three post-harvest handling facilities at Nasik, Sangli and Satara, which have a combined processing and packing capacity of 100 tonnes per day (tpd). These plants undertake grading, sorting and pre-cooling of fruits before they are exported. The company procures fruits from farmers who have EurepGAP certification (an international certification for good agricultural practices). Besides confirming to global food and safety standards, it also offers 100% traceability of its products.Freshtrop Fruits has venturing into production of fruit juices and concentrates.It has set up a pomegranate juice concentrate plant at Nasik with a 20-tpd capacity. Commercial production of juice has just commeneced recently.The project is estimated to generate incremental revenues of Rs 31 crore in the present fiscal. In the second phase, the company will invest Rs 20 crore to produce fruit juices for the domestic market. The unit will start commercial production in November ''09. This diversification will help overcome the seasonalnature of its business.Currently, March and June quarters account for over 95% of its annual revenues.Freshtrop has a high dividend yield and has been paying dividends since the past four fiscal years.Its unique business proposition, expansion into the fruit juice segment, low valuations and good dividend-paying record makes it a promising buy on dips.
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Friday, May 15, 2009
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