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| 5/2/2013 9:00 PM Thursday

AGRO TECH FOODS

I am holding 100 shares of Agro Tech Foods purchased at Rs 425 per share. What should I do next?
Arvind Sahastrabuddhe, Via Email

BSE/NSE Code 500215/ATFL
Face Value Rs 10
CMP Rs 517
52-Week high/low Rs 536/Rs 399
Current Profit/(Loss) 21.65 per cent

Booking losses and looking at alternatives is one of the most important traits of a good investor. While this is important, even more critical is to take money off the table at profitable times.

You are currently sitting on a neat profit of 21.65 per cent from where you had invested in the counter. That should be reason enough for you to take some profits home. But here are some more reasons why we feel you should be selling only a part of your holdings and cling on to the remaining which are likely to fetch you good profits going forward.

Agro Tech Foods (erstwhile ITC Agro Tech) mainly engages in the production, marketing, and sale of food and food ingredients to consumers and institutional customers primarily in India. It offers refined oil under the brand ‘Sundrop’. Its product portfolio comprises of instant popcorn, under the ACT II brand and puddings under the Sundrop Snack Break brand. It also has Sundrop Peanut Butterrefined sunflower oil under the Crystal and ready to cook products under the Sundrop 10-minute Yummeals brand names. Agro Tech Foods is a subsidiary of CAG – Tech (Mauritius).Till the time of going to press, its Q4FY13 results were not declared but looking at Q3FY13, the company has performed well on the financial front. The topline of the company has witnessed a growth of 21.60 per cent on a YoY basis for Q3FY13 as against Rs 180.84 crore for Q3FY12. On the bottomline, it has witnessed a growth 16.30 per cent on a YoY basis for Q3FY13 to stand at Rs 13.06 crore as against Rs 11.23 crore as of Q3FY12. On the valuation front, the stock discounts its trailing 12-month earnings by 32.19x and the EV/EBITDA stands at 21.69x. Though the valuation looks steep when compared to other listed peers like Ruchi Soya and KS Oils, the part that needs to be highlighted is that the company is virtually debt free. As of FY12, its debt on the books stands at a mere Rs 9.43 crore.

Looking at the profit that you are sitting on, it is advisable that you book partial profits of atleast 25 per cent of your portfolio and take the final call once the FY13 results are declared.

 

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