ATFL2024-04-012024-06-30 ATFL2024-04-012024-06-30in-bse-fin:OneOperatingExpenses01Member ATFL2024-04-012024-06-30in-bse-fin:OneOperatingExpenses02Member ATFL2024-06-30 ATFL2024-04-012024-06-30in-bse-fin:OneItemsThatWillBeReclassifiedToProfitAndLoss01Member iso4217:INRxbrli:purexbrli:sharesiso4217:INRxbrli:shares 500215 ATFL NOTLISTED Agro Tech Foods Limited Equity 2024-04-01 2025-03-31 2024-07-16 2024-07-08 INR Lakhs First quarter 15:00:00 17:45:00 2024-07-16 2024-07-16 Not applicable Single segment Foods 2024-04-01 2024-06-30 Unaudited Consolidated 1806400000.00 2800000.00 1809200000.00 1182900000.00 100000.00 -45900000.00 161300000.00 7400000.00 53600000.00 447000000.00 1806400000.00 2800000.00 0.00 2800000.00 1200000.00 -400000.00 800000.00 0.00 2000000.00 0.00 0.00 0.00 0.00 2000000.00 -9200000.00 -7200000.00 -7200000.00 0.00 -7200000.00 0.00 243700000.00 10 0.08 0.08 0.00 0.00 0.08 0.08 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 July 16, 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 a limited review of these results for the quarter ended June 30, 2024 and have issued an unmodified report on these results. 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. The figures for the quarter ended March 31, 2024 are balancing figures between the audited figures of the full financial year ended March 31, 2024 and the published year to date figures up to third quarter ended December 31, 2023. 6. During the previous year, the Parent Company had 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 quarter ended June 30, 2023. 7. During the previous year, the Parent Company had received the 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. Advertisement and sales promotion expense 55900000.00 Other expenses 391100000.00 Notes 8. The Parent Company has 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 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, for which approval from SEBI was received on June 25, 2024. The Company has held its Independent Directors’ Committee (IDC) meeting on July 5, 2024 and the Recommendations of IDC on the Open offer were published in the newspapers and submitted to the Stock Exchanges on July 8, 2024. The Acquirer has dispatched the “Letter of Offer” to the Eligible Public Shareholders of the Company on July 4, 2024. The Offer opening date is July 11, 2024 and Offer closing date is July 25, 2024. As on the date of approval of these financial results, CAG-Tech (Mauritius) Limited continues to be the Promoter Company, pending consummation of the underlying transaction and the completion of open offer. 9. Mr. Sachin Gopal has resigned from the Directorship, Managing Director and CEO of the Company w.e.f. close of business of April 24, 2024. Mr. Asheesh Kumar Sharma, appointed as Director, Managing Director and CEO effective April 25, 2024, for a term of 5 years until April 24, 2029, which was approved by shareholders by passing a Special Resolution for item through Postal Ballot on July 11, 2024. 0.00 Exchange differences in translating the financial statements of foreign subsidiaries -9200000.00 -9200000.00 0.00