Mishtann Foods Q2 Results: Net Profit Rises 22% To Rs 106.56 Cr; Revenue Reached Rs 341.87 Cr

The top agro-food product firm in India, Mishtann Foods Ltd announced unaudited financial results for the quarter and a half-year ended on September 30, 2024, during its board meeting on October 25, 2024.

Consolidated, Mishtann Foods' net profit increased 21.89% to Rs 106.57 crore in the September 2024 quarter from Rs 87.43 crore in the September 2023 quarter. Compared to the year-ago quarter, which ended in September 2023, when sales were Rs 318.40 crore, sales in the quarter ending in September 2024 increased by 7.37% to Rs 341.87 crore. EBITDA climbed 20% year on year to Rs 108.36 Cr in Q2FY25 from Rs 90.54 Cr in Q2FY24. EBITDA margins increased from 28.44% in Q2FY24 to 31.69% in Q2FY25, a 326 bps jump.

Consolidated revenue from operations for the half-year ended September 30, 2024, was Rs. 724.54 Cr, an 18.32% YoY growth. EBITDA increased 10.87% year on year to Rs. 181.05 Cr (H1FY25). The EBITDA margin for H1FY25 was 24.99%. From Rs. 156.34 Cr (H1FY24) to Rs. 177.87 Cr (H1FY25), PAT increased 13.77% year on year. The PAT margin for H1FY25 was 24.55%.

The company's net sales for the September 2024 quarter were Rs 80.93 crore, up 0.53% from the September 2023 quarter's Rs 80.51 crore. In Q2FY25, standalone EBITDA was Rs. 3.86 crore, down 39.97% from Rs. 6.43 crore in Q2FY24, while quarterly net profit was Rs. 2.06 crore, down 37.93% from Rs. 3.32 crore.

The top FMCG firm in India, Mishtann Foods Limited, specialises in several kinds of Basmati rice. Along with all other types of grains and cereals, the firm also sells edible common salt, rock salt, and pink salt. The 100,000 metric tonne annual rice processing plant owned by Mishtann Foods is well situated in Gujarat, India, close to Ahmedabad and a port, providing the company with a cost advantage for the export market. Mishtann offers a broader range of Basmati rice products, including Raw, Sella, and Steam, to serve a larger clientele in both wholesale and retail markets. The firm sells a variety of agricultural products, such as pulses, wheat, rice, and spices.