NHC Foods Q2 Net Profit Jumps 16-Fold as Company Acquires Sachmaas Foods

NHC Foods Ltd reported a strong jump in its financial results for the September quarter, backed by higher income and a fresh acquisition. Total income for the quarter went up by 333 per cent to reach ₹451.32 crore compared to ₹104.09 crore in the same period last year. Profit for the quarter shot up more than 16 times to ₹21.68 crore from ₹1.34 crore a year ago. For the first half of the financial year, the agricultural and spice exporter posted a total income of ₹821.45 crore, which is a 282 per cent increase from ₹214.68 crore previously. Profit for the first half grew nearly 13-fold to reach ₹38.68 crore compared to ₹3.01 crore in the year-ago period.

Acquisition And Leadership

The company board cleared the purchase of a 99.98 per cent stake in Sachmaas Foods. Sachmaas works in making, processing, repacking, and trading food items like chickpeas and peanuts through wholesale and retail markets. Managing Director Satyam Joshi stated that the firm aims to keep this growth going by widening operations and strengthening its position in the food processing sector. Along with this, the board brought in Jayesh Shah as an Additional Director, who brings over 15 years of experience in FMCG and food processing. Alesha Hakim Khan took charge as the new Company Secretary and Compliance Officer.

Context

Food processing and agricultural export businesses in India often use strategic buyouts of smaller brands to quickly scale up their product offerings and tap into new retail channels. Strong quarterly numbers in this sector typically reflect higher global demand or better supply chain execution for commodities like spices and food grains.