Foods & Inns is down by about 6 percent. However, over the last couple of trading sessions, the stock has gained nearly 48 percent. Most of the gains were made on Friday and Monday primarily because veteran investor Radhakishan Damani's Derive Investments bought 4.7 percent stake in the company.

Bhupendra Dalal, chairman of the company discussed the company stock and more.

“I think he doesn’t believe in any hostile takeover. He is quite happy to be under 5 percent and he bought it from the market neither of the promoters have sold,” he said.

In terms of debt, Dalal added, “The day we received about Rs 148 crore, we repaid about Rs 105 crore of debt. The balance is in the company. During the mango season, our debt will go up and then slowly it comes down.”

“We are looking at inorganic growth, we are putting about Rs 30 crore in to a land, which we already own in Gujarat near Valsad and also a little bit of mango because we have mango season—Alphonso and Kesar overlap each other, we were not able to do Kesar now we will be able to do that,” he added.

Talking about acquisitions, he further mentioned, “We are doing two things with the money in hand – one is inorganic growth which will be about Rs 30 crore in our plant in Gujarat and we are looking at small-ticket acquisitions, Rs 10-15 crore.”

Highlights

RK Damani bought their stake in the open market and it will remain under 5%

Debt-equity ratio is at a comfortable level

Exports account for 65% of business, rest is India

Rupee appreciation will reflect in Q4FY19 numbers

70-80% of the rupee exposure is hedged

Currently export samosas and onion fritters, among other products

FY20 consolidated revenue should Cross Rs 350 crore

Snack business margins stand at 20%

Expect consolidated margin to improve from current levels significantly

All cases against the promoter have been cleared

First Published:Apr 16, 2019 12:36 PM IST