Source: HERE
Tasty Bite continues to post poor results. Industry veteran Dilen Gandhi is roped in as CEO and MD recently, Vidhu Arora joined as Chief Human Resources Officer this July apart from other aggressive hirings at top level. In the Annual report new CEO has emphasised on renewed strategy with more focus on domestic market. This can be turnaround story from here but the problem is almost no communication to shareholders from the management. If anyone has attended AGM then please post some notes.
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significant jump in the last 3 days for no announcement that had been informed from co, with decent delivery volumes too. Looking for reasons, but not found any. Is it something related to the economy settling in the United States and things being better in the near term?
Could this be because Mars is acquiring Kellanova?
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now at 237 PE! Bubble?
Well, the stock price went from 17.5k in August 2023, to 14k now, while going as low as 9.5k in the middle. Glad I had exited in August 2023 itself.
PE expansion because of earnings contraction is not a good thing imo.
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Video recording of AGM is published https://www.bseindia.com/xml-data/corpfiling/AttachLive/b7aee6b8-c92c-4aec-aab8-2490550a6f8e.pdf
Pretty strong commentary from the Management specially from the CEO and MD Mr. Dilen Gandhi.
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The video link is fails to open, how is this enabled for you? I tried from different browsers but had no luck.
Spree of aggressive hirings at KMP level continues with appointment of a new whole time CFO. New CFO seems to have good experience.
Meanwhile, company also posted results for Q2FY25, results are suggesting some greenshoots after dismal last few quarters.
Company posted highest ever quarterly sales of Rs. 157 crores. However, margins have not improved that much majorly due to material cost and increasing employees cost.
Management anticipate that the momentum will continue to build in the upcoming quarters of FY 2024-25
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Tasty Bites (Q3FY25 Highlights)
- Highest-ever quarterly revenue: ₹183.5 Cr (+34% YoY), driven by PBI recovery, Mars innovations, and strong 3rd party business.
- 9M Revenue: ₹434.2 Cr, with recovery in Q2 & Q3 after a weak Q1.
- Food Service Business: Grew +17% YoY due to new product innovations and stronger customer ties.
- Material Costs: Rose to 63% of revenue (+200 bps YoY) due to commodity inflation in staples & oil.
- Margins improving but remain under pressure from inflation.