Company History - ADF Foods Industries
YEAR EVENTS
1990 - The Company was incorporated on 27th August as a private
limited
company. The Company was converted into a public limited
company
on 14th September 1991. It was promoted by Hariram Mewawala,
Ramesh Thakkar and Kishore Thakkar. The objects of the
company
is to produce a wide range of canned and bottled processed
vegetables/foods/fruits.
- The Company undertook to set up a plant at GIDC Industrial
Estate
Nadiad, Gujarat land admeasuring 4348 sq.mtrs. was acquired in
the agro based taluka of Nadiad, Gujarat. Plant and
machinery
such as Vapovax boilers model 300s, water softening plant etc.
were acquired. Large storage underground tanks were
constructed
at a depth of 30 feet for preservation of vegetables and
fruits.
1994 - The company undertook to set up facilities at Nasik for
manufacture of Masala, ground spices. A modernisation
programme
was undertaken on the existing facilities at Nadiad. With
these,
the Company expected to double its capacity to 12600 tonnes
per
annum.
- The Company issued 25,00,000 No. of equity shares of Rs.10
each
at a price of Rs. 62 per share to Indian financial
institution,
Indian mutual funds and Indian Corporate entities on private
placement basis.
- The Company issued 7,25,806 warrants to promoters which was to
be
converted into equity shares within 18 months at a price of
Rs.62
per share.
1995 - In November, the capacity at Nadiad plant was expanded to
19,900
TPA from 12,600 TPA.
- 70 No. of equity shares of Rs.10 each issued, subscribed and
paid
up. 71,99,930 No. of equity shares of Rs.10 each were issued
in
as follows:
- (i) 28,79,930 No. of equity shares allotted on a firm basis
to
Indian resident, directors their friends and relatives.
- (ii) 2,16,000 shares issued on preferential basis to
employees
(all were taken up).
- (iii) Balance, 41,04,000 shares were issued to public.
Additional 10,80,000 shares were allotted to retain
oversubscription (4,32,000 shares to promoters, 32,400 shares
to
employees, 615,600 shares to public). 25,00,000 No. of
equity
shares issued on private placement basis (8,00,000 shares at
the
rate of Rs.10 per share and 17,00,000 shares at the rate of
Rs.5
per share).
1996 - The overall performance of the Company resulted in a loss due
to
spoilage of raw materials worth Rs 80 lakhs. The domestic
division's sales dropped mainly due to stiff competition and
the
change in sales policy.
2003
-Sets up an Export Oriented Unit (EOU) at Nadiad for manufacturing
and processing of frozen food products
2005
-Adf Foods Ltd has entered into an MOU with the partnership firm M/s
American Dry Fruits Stores for usage of all 4 brands namely Ashoka,
Camel, Aeroplane and Classic Ashoka owned by the partnership firm
until November 20, 2005.
2006
-Adf Foods Ltd has recommended a dividend @10% (Re 1/- per equity
share of Rs 10/- each).
2007
-Adf Foods Ltd has recommended a final dividend @ 10% (Re 1/- per
share). Total dividend (including interim dividend of 10%) will be @
20% (Rs 2/- per share).
2008
-Mr. Ravinder Kumar Jain has been appointed as an Additional Director
of the company
-Adf Foods Ltd has recommended final dividend @ 10% (Re 1 per Share)
2009
-Adf Foods Ltd has recommended a dividend of 15% i.e. Rs 1.50/- per
share
-Company has incorporated a wholly-owned Subsidiary by the name of
ADF FOODS (INDIA) LTD
2010
-Company's wholly-owned subsidiary, ADF Foods (India) Ltd. has
received the Certificate of Commencement of Business.
-ADF Foods Ltd. Completes Acquisition of Elena's Food Specialties,
Inc.
2011
-ADF Foods Ltd. has recommended a dividend @ Re. 1.5/- per share
2012
-ADF Foods Ltd. has recommended a dividend @ Re. 1.5/- per share
-Mr. Nishikant Bapat has been appointed as Executive Vice-President
of the Company
2013
- Adf Foods Ltd has recommended a dividend @ Re. 1.5/- per share.
2014
- Adf Foods Ltd has recommended a dividend @ Re. 1.5/- per share.
2021
-ADF Foods bags exclusive distribution rights of Patanjali products
across Western Europe and UK.
2022
-The Company has splits its face value from Rs. 10/- to Rs. 2/-.
2023
-Company approved acquisition of additional shares in Telluric Foods
(India) Limited, Wholly Owned Subsidiary of the Company.
