PNN
Mumbai (Maharashtra) [India], January 21: NHC Foods Limited, a prominent exporter of agricultural commodities and spices, has announced its financial results for the Third Quarter and Nine Months ended 31t December 2024.
For the quarter ended 31st December 2024, the company's PAT increased by 384% to Rs 208.33 Lakhs as compared to Rs 43.03 Lakhs in the corresponding period last year. Revenue from Operations for the Quarter ended 31t December 2024 increased by 58% to Rs 7352.97 Lakhs as compared to Rs 4649.69 Lakhs in the corresponding period last year.
For the Nine months ended 31st December 2024, the company's PAT increased by 384% to Rs 614.30 Lakhs as compared to Rs 126.88 Lakhs in the corresponding period last year. Revenue from Operations for the Nine Months ended 31st December 2024 increased by 64% to Rs 21,420 Lakhs as compared to Rs 13,062 Lakhs in the corresponding period last year.
The performance of NHC Foods over the last three quarters highlights the company's remarkable ability to achieve strong top-line and bottom-line growth despite a volatile environment. The company reported profits of Rs 200.88 Lakhs in Q1-FY25, Rs 205.08 Lakhs in Q2-FY25, and Rs 208.33 Lakhs in Q3-FY25, surpassing the Rs 234.74 Lakhs achieved for the entire FY2024.
Commenting on the results, Mr. Satyam Joshi, Whole Time Director stated "NHC Foods' performance during the Quarter and nine-month period showcases its exceptional capability to achieve strong top-line and bottom-line growth despite operating in a challenging environment. The company's focus on product and market expansion, along with strategic investments in manufacturing, technology and R&D, is set to create a stronger foundation for a brighter and sustainable future."
Highlights:
- Q3-FY25 Net Profit up by 384% to Rs 208.33 Lakhs
- Q3-FY25 Revenue increases by 58% to Rs 7,352.97 Lakhs
- 9M-FY25 Net Profit has surpassed approximately by 2.61 times compared of 12 months of FY23-24.
- 9M-FY25 Net Profit up by 384% to Rs 614.30 Lakhs
- 9M-FY25 Revenue increases by 64% to Rs 21,420 Lakhs
- Expansion goal with New Sesame Plant, Investment in BUYCEPS and SAAZ rebranding
"The successful completion of the recent Rights Issue stands as a testament to the confidence investors and stakeholders have in the company's management and future growth prospects", Mr. Satyam Joshi added.
As part of its expansion and brand-building strategy, NHC Foods has allocated sizable funds for establishing a state-of-the-art Sesame Seeds Cleaning and Hulling facility and revamping its flagship spice brand, 'SAAZ.'
The cutting-edge Sesame Seeds Cleaning and Hulling facility at Pardi in Gujarat is designed to meet the growing domestic and international demand for sesame-based products, particularly in key export markets such as China, Korea, Turkey, USA and Europe. The plant is expected to be operational within a year and is expected to drive substantial revenue growth. This investment highlights the company's commitment to addressing global demand while enhancing domestic supply capabilities and is a significant step toward cementing its leadership position in the sesame industry.
On the product innovation side, NHC Foods' flagship spice brand, "SAAZ," is set for a comprehensive strategic revamp to strengthen its consumer brand portfolio. The initiative includes enhancing its presence across modern retail chains and leading ecommerce platforms like Big Basket, Blinkit, Swiggy, and Amazon. The company is planning a pilot launch in Rajkot, Gujarat, with the revamped product line expected to roll out in the market within 5-6 months.
The Board of Directors has also granted in-principle approval for NHC Foods to invest in Inwelco Science Pvt. Ltd., the parent company of Buyceps, a prominent health and wellness brand. With a revenue target of Rs 100 crores in the next 2-3 years, this investment enables NHC Foods to tap into the growing demand for wellness products both in India and overseas markets.
About NHC Foods
NHC Foods (NHC) has been a trusted name in the industry since 1960 and is a three-star merchant export house and a leading exporter of premium agricultural commodities and spices. Renowned globally for its expertise in the merchant export of Spices, Food Grains, Oil Seeds, Pulses, and Dry Fruits. NHC proudly serves over 30 countries with its signature brands such as Indi Bite, Eat'mor, and Saaz. With a strong focus on technology upgrades, process improvements, and market diversification, NHC is strategically expanding its footprint both in India and new international markets.
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