ATFL2024-01-012024-03-31 ATFL2024-01-012024-03-31 ATFL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses01Member ATFL2024-01-012024-03-31in-bse-fin:OneOperatingExpenses02Member ATFL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses01Member ATFL2024-01-012024-03-31in-bse-fin:FourOperatingExpenses02Member ATFL2024-03-31 iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500215 ATFL NOTLISTED Agro Tech Foods Limited Equity 2023-04-01 2024-03-31 2024-04-24 2024-04-17 INR Lakhs Yearly 15:00:00 19:30:00 2024-04-24 2024-04-24 true Cash Flow Indirect Declaration of unmodified opinion Single segment FOOD BUSINESS 2024-01-01 2024-03-31 Audited Standalone 1781700000.00 1300000.00 1783000000.00 1075000000.00 4000000.00 56800000.00 124900000.00 4700000.00 51000000.00 471100000.00 1787500000.00 -4500000.00 26800000.00 22300000.00 -3500000.00 9400000.00 5900000.00 0.00 16400000.00 0.00 0.00 0.00 0.00 16400000.00 -1900000.00 14500000.00 14500000.00 0.00 243700000.00 10 0.67 0.67 0.00 0.00 0.67 0.67 0.00 0.00 0.00 Notes: 1. These financial results were reviewed and recommended by the Audit Committee and approved by the Board of Directors at their meetings held on April 24, 2024. 2. These results have been prepared in accordance with Indian Accounting Standards (Ind AS) prescribed under Section 133 of the Companies Act, 2013, read with the relevant rules issued thereunder and are as per Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The statutory auditors have carried out an audit of these results for the year ended March 31, 2024 and a limited review for the quarter ended March 31, 2024 and have issued an unmodified report on the results for the quarter ended March 31, 2024. 3. The consolidated financial results include the results of Agro Tech Foods Limited (the Parent Company the Company) and its wholly owned subsidiaries (i) Sundrop Foods India Private Limited; India (ii) Agro Tech Foods (Bangladesh) Pvt. Ltd. Bangladesh and (iii) Sundrop Foods Lanka (Private) Limited Sri Lanka (together referred to as the Group). 4. In the context of Indian Accounting Standard (Ind AS) 108 Operating Segments, Foods is considered as the operating segment of the Company since the Chief Operating Decision Maker CODM reviews business performance at an overall Company level as one segment. 5. During the quarter ended June 30, 2023, the Parent Company received an amount of Rs. 113 lakhs in respect of the Business Interruption claim made by it in relation to the fire incident at one of the manufacturing locations of the Parent Company in the earlier years. This insurance claim received by the Parent Company has been included and disclosed as Other Income in the financial results for the year ended March 31, 2024. 6. The Board of Directors at its meeting held on April 24, 2024 has recommended a dividend of Rs. 3 per equity share of face value of Rs. 10 each which is subject to approval of the shareholders. 7. During the current year, the Parent Company received income tax refund orders relating to earlier years which includes interest income of Rs. 268 lakhs, such interest income has been presented as exceptional item in the financial results for the quarter and year ended March 31, 2024. Single segment 2023-04-01 2024-03-31 Audited Standalone 7582300000.00 18500000.00 7600800000.00 4574100000.00 34600000.00 99400000.00 520100000.00 28800000.00 205200000.00 2034600000.00 7496800000.00 104000000.00 26800000.00 130800000.00 15300000.00 19100000.00 34400000.00 0.00 96400000.00 0.00 0.00 0.00 0.00 96400000.00 -1900000.00 94500000.00 94500000.00 0.00 243700000.00 10 4748100000.00 3.98 3.98 0.00 0.00 3.98 3.98 0.00 0.00 0.00 Advertisement and sales promotion expense 34900000.00 Other expenses 436200000.00 Advertisement and sales promotion expense 254000000.00 Other expenses 1780600000.00 2975400000.00 296600000.00 0.00 0.00 139300000.00 0.00 0.00 0.00 228200000.00 0.00 0.00 35100000.00 263300000.00 0.00 264600000.00 3939200000.00 1446800000.00 0.00 669800000.00 85500000.00 11400000.00 0.00 32600000.00 799300000.00 0.00 304700000.00 2550800000.00 0.00 0.00 6490000000.00 243700000.00 4748100000.00 4991800000.00 4991800000.00 0.00 0.00 64400000.00 64400000.00 17200000.00 172400000.00 0.00 0.00 254000000.00 335000000.00 684900000.00 109400000.00 1129300000.00 64600000.00 35500000.00 14800000.00 0.00 1244200000.00 0.00 0.00 1498200000.00 6490000000.00 8. Agro Tech Foods Limited (Company/Parent Company) informed the stock exchanges about the receipt of a copy of the Public announcement dated February 29, 2024 in relation to an open offer from Centrum Capital Limited on behalf of Zest Holding Investments Limited (Acquirer), made pursuant to and in compliance with the requirements of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto. According to the said Announcement, pursuant to the Share Subscription Agreement (the Agreement) dated February 29, 2024 entered into between the Acquirer, CAG Tech (Mauritius) Limited (Holding Company of Agro Tech Foods Limited) (Promoter Company) and ConAgra Europe B.V. (the sole existing shareholder of Promoter Company), the Acquirer will obtain 100% of the shareholding and control of the Promoter Company subject to the receipt of the approval from Competition Commission of India (CCI) and other terms and conditions set out in the Agreement. Pursuant to the completion of the Underlying Transaction in accordance with the provisions of the Agreement: (a) the Acquirer shall hold 100 % of the equity shares and control of the Promoter Company. The Promoter Company, in turn, will continue to hold 1,26,16,619 equity shares in the Parent Company representing 51.77% of the Voting Share Capital of the Parent Company, and will continue to be disclosed as part of the promoter group of the Parent Company. (b) transaction will result in a deemed direct acquisition (being an indirect acquisition meeting the thresholds as per the SEBI Regulations). Further, the Draft Letter of Offer in relation to the proposed Open Offer to the Eligible Public Shareholders of the Company to acquire 63,36,009 equity shares of Rs.10/- each constituting 26 % of the voting share capital by the Acquirer was filed on March 13, 2024 with Securities and Exchange Board of India in terms of SEBI (SAST) Regulations, 2011. As on the date of approval of these financial results by the Board, the aforesaid underlying transaction and the open offer are awaiting regulatory / statutory approvals. 9. The figures for the current quarter and quarter ended March 31, 2023 are balancing figures between audited figures of the full financial year ended March 31, 2024 and March 31, 2023 respectively, and the published year to date figures up to third quarter ended December 31, 2023 and December 31, 2022 respectively. 28800000.00 200000000.00 19400000.00 0.00 -18800000.00 0.00 0.00 -23300000.00 0.00 57600000.00 0.00 13000000.00 0.00 205200000.00 0.00 -900000.00 0.00 0.00 0.00 0.00 0.00 2900000.00 0.00 -500000.00 0.00 0.00 0.00 -23500000.00 0.00 454100000.00 584900000.00 0.00 0.00 0.00 -26300000.00 0.00 611200000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1600000.00 368600000.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1700000.00 0.00 -6000000.00 0.00 -371300000.00 0.00 0.00 0.00 0.00 0.00 0.00 112400000.00 0.00 4961500000.00 5146500000.00 0.00 15300000.00 72600000.00 28800000.00 0.00 0.00 -189300000.00 50600000.00 0.00 50600000.00 34900000.00 85500000.00 -2600000.00 -2600000.00 -700000.00 -700000.00