Foods & Inns Ltd reported a slowdown in export dispatch due to vessel non-availability and significant increases in ocean freight, leading to delayed call-ups and a backlog of 1,800 million tons of finished goods. Average realization declined by 18.5% year-on-year due to lower raw material (mango) prices, impacting top-line value growth despite volume growth. The company received a higher order from its top customer, Coca-Cola, for the Maza brand, which celebrated its 50th anniversary. The frozen food segment continues to show strong growth, with a 20% growth in Q1 and a 30% CAGR over the last two years, and the company is expanding capacity to meet demand. The pectin segment has started commercial production, with samples sent to big brands and consumer testing underway, expected to yield opportunities in the second half of the year.
The Coca-Cola CompanyCoca-Cola placed a higher order for Maza brand, indicating increased demand.
Coca-Cola Europacific Partners PLCExport delays and higher freight costs due to vessel non-availability.
