Press Release

NHC Foods Announces Rs. 47.42 Crore Rights Issue; Declares Robust Q2 Results

Mumbai (Maharashtra) [India], November 25: Mumbai-based NHC Foods Limited, a leading exporter of agricultural commodities and spices, announced its Rs. 47.42 crore Rights Issue. Proceeds from the Rights Issue will be used to enhance working capital and repay secured working capital loans, thus leading to increased profitability.

NHC Foods has fixed November 26, 2024, as the record date for the Rights Issue. The company will issue 47,42,00,000 shares at Re. 1 per share to eligible shareholders under the Rights Issue. In comparison, the closing price of NHC Foods’ shares was Rs. 6.89 on November 22.

Eligible shareholders can apply for four rights equity shares for every one fully paid-up equity share held by them on the record date, offering an exciting opportunity for investors to enhance their equity ownership in the company at an attractive price and boost their involvement. The Rights Issue will open on December 5 and close on December 18.

Apoorva Shah, Chairman & Managing Director of NHC Foods, said, “The proceeds from the Rights Issue will be used to bolster the growth of the company. We are reaffirming our commitment to enhancing shareholder value while ensuring a fair and equitable distribution of shares among public shareholders. This strategy to offer the shares at a potentially attractive price also aligns with our objective to strengthen public shareholding and optimize the company’s capital structure.”

Key Result Highlights 

Quarter on Quarter Performance
Q2 FY 24-25 Q2 FY 23-24 % Change 
Revenue 66.17 Cr 41.32 Cr 60.14%
PAT 2.09 Cr 0.43 Cr 386%
Half Yearly Performance 
H1 FY 24-25 H1 FY 23-24 % Change 
Revenue 140.67 Cr 84.12 Cr 67.22%
PAT 4.06 Cr 0.83 Cr 384%

NHC Foods also announced robust numbers for the September 2024 quarter, underscoring its strong market position and resilience in a dynamic business environment, and marking a second consecutive quarter of excellent results. The company’s revenue in the latest quarter went up from Rs. 41.32 crore to Rs. 66.17 crore, an increase of 60.14%. Net profit for the quarter surged from Rs. 43 lakh to Rs. 2.09 crore, an increase of 386%.

For the first half of the financial year, NHC Foods registered revenue of Rs. 140.67 crore, an increase of 67.22 % over revenue of Rs. 84.12 crore in the corresponding period of the previous year. Net profit for H1 of FY25 was Rs. 4.06 crore, growing by 384.2% over last year’s Rs. 83.85 lakh.

“NHC Foods is on a high-growth trajectory with robust top-line and bottom-line performance. We are very confident of the future and are actively investing in technology and process improvements to sustain this momentum. We are also looking at geographical diversification into new international markets as well as strengthening our foothold in the Indian market through targeted strategies and product innovations,” Mr. Shah added.

If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.