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Ariba Foods, based in Ujjain, manufactures and sells frozen food
Bikaji Foods International Limited has announced that its board will meet on August 23 to consider a proposal to acquire a stake in Ariba Foods Private Limited, a company involved in the manufacturing and selling frozen food products.
In July 2023, Bikaji Foods acquired a 49 per cent stake in Bhujialalji Pvt Ltd, an ethnic snacks company. This involved 9,608 equity shares and 396 Compulsorily Convertible Debentures (CCDs) valued at ₹5,100 per security, totalling Rs 5.10 crore.
In the latest report on its Q1 earnings, the company recorded a 40.2 per cent increase in consolidated net profit, reaching Rs 58.06 crore compared to ₹41.41 crore in the same quarter of the previous financial year. Revenue from operations also grew by 15.24 per cent, reaching Rs 555.12 crore in the June quarter.
Ariba Foods, based in Ujjain, manufactures and sells frozen food. Bikaji Foods shares were trading 0.2 per cent higher at ₹863.40 on the National Stock Exchange.