Scripscan:Adf Foods Ltd
Bse code:519183
Cmp:65
Story:ADF is mainly into the manufacturing and export of processed and preserved food products like dryfruits, pickles, and jams, and sells these under the brand names, ´Ashoka´ and ´Mother´s Recipe´. It sells pickles and tamarind through its premium brand ´Camel´ in the Middle East countries and a popular segment brand ´Aeroplane´. It sells chutney and tamarind in the United Kingdom under the brand name ´Aeroplane.The company has expanded its chutney and pickle line at the Nadiad factory in Gujarat by importing machinery from the UK, upgraded the effluent treatment plant and renovated ready-to-eat plant.Adf is now considering entering the domestic market and looking at acquisitions in India and overseas.The company has several tie-ups in UK, US, Middle East, Australia, Canada and Asia, to ensure extensive distribution of its products.I am hugely bullish on FOOD Processing industry as only 10 % of food is processed in this country which leads to enormous wastage and not reaching peoples tummy.The results are expected to be good going forward.Valuation wise too its quoting at single digut valuations.Influential guy like Ashwin kedia,who heads the alchemy research house owns a large chunk of shares in it.He is known for his great multibagger picking abilities.The scrip rallied recently on rumuor of some big domestic company looking to enter into the sunrising food processing sector going to acquire the company.All said and done,a good bet at lower levels.
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Tuesday, September 22, 2009
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