Agro Tech Foods Limited (ATFL) has announced its unaudited financial results for the quarter ended June 30, 2024. The company reported a standalone profit after tax of ₹9 lakhs and a consolidated profit after tax of ₹20 lakhs.
The results were reviewed and recommended by the Audit Committee and approved by the Board of Directors on July 16, 2024. The financial statements have been prepared in accordance with Indian Accounting Standards (Ind AS) and comply with SEBI regulations.
In addition to the financial results, the company also disclosed details about an ongoing open offer by Zest Holding Investments Limited, through Centrum Capital Limited, to acquire 26% of the voting share capital of ATFL. The open offer opened on July 11, 2024, and will close on July 25, 2024.
The company's Independent Directors' Committee has reviewed the open offer and published its recommendations. As of the date of approval of the financial results, CAG-Tech (Mauritius) Limited continues to be the promoter company of ATFL, pending the completion of the open offer and underlying transactions.
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