Fauji Food’s Loss for the Period increases by 182%, loss per share reaches 89%

The company’s Sales increased by 133percent in the outgoing year, whereas the loss for the period also increased 182percent in comparison to previous year.

Comparison of Key Financials:

 

For the Half Year Ended

Key Financials

30th June, 2017

30th June, 2016

% Change

Sales

2,520,039,306.00

1,080,039,303.00

133%

Cost of Sales

2,489,503,975.00

987,454,686.00

152%

Gross Profit

30,535,331.00

92,584,617.00

-67%

Marketing and Distribution Expense

913,043,552.00

565,880,231.00

61%

Administrative Expense

213,367,206.00

99,076,455.00

115%

Loss from Operations

-1,101,208,323.00

-586,313,782.00

88%

Finance Cost

178,299,262.00

62,004,497.00

188%

Loss for the Period

-1,226,911,573.00

-435,139,625.00

182%

Loss per share – basic and diluted

-9.29

-4.91

89%

 

The Company issued no Cash Dividend, Bonus Shares for the period.

However, it has recommended to issue 300% right shares at the price of Rs. 10/-per share in the proportion of 300 ordinary shares for every 100 Ordinary or 100 Non-Voting Ordinary Shares for the above mentioned period.

  • The purpose of the issue is Business Expansion/Diversification and Working Capital  Requirements
  • The proceeds from Right Issue will be utilized for expansion of sales and distribution network; increasing media spend for enhanced brand equity, improvement of Raw Milk procurement System, research and development of new products and working capital.
  • 396,305,394 Voting Ordinary Shares (300% of existing paid-up capital of the Company) be offered by the way of right shares to the holders of Voting Ordinary Shares and Non-Voting Ordinary Shares in equal proportion to their respective existing holdings.
  • The risk associated is of Investment.

The complete statements can be accessed here.

Posted on: 2017-07-26T11:53:00+05:00