- The company’s standalone Sales increased by 50.13% to Rs 142.94 crore from 95.21 crore
- Its purchase tonnage growth showed a significant rise from 15293.58 MT to 29630.67 MT which is up by 93.75%
- In the realm of fruits and vegetables supply chain, Prime Fresh has cemented its position as a leader, demonstrating consistent sales, profitability, and a growth trajectory, establishing a reputation built on enduring performance across an extended timeline: Jinen Ghelani, Chairman, Managing Director and CFO
GOWRI MANICKAVASAGAM
AHMEDABAD, MAY 20
Prime Fresh Limited, a frontrunner in the national fruits and vegetables supply chain management sector, announced 37.43 percent growth in its profit after tax to Rs 6.97 crore in the financial year ended March 31, 2024 against Rs 5.07 crore in the last fiscal year.
Consolidated Financial Performance
Its consolidated sales increased from Rs 99.35 crore to Rs 149.21 crore in the reporting period YoY, up by 50.19 percent. EBIDTA rose by 35.53 percent from Rs 7.45 crore to Rs 10.10 crore while the profit after tax has gone up from Rs 7.03 crore to Rs 9.55 crore – up by 35.82%
Standalone Financial Performance
The company’s standalone Sales increased by 50.13% to Rs 142.94 crore from 95.21 crore while EBIDTA YoY increased from Rs 7.21 crore to Rs 9.77 crore up by 35.56%. Further, the PBT has risen from Rs 6.79 crore to Rs 9.22 crore which is up by 35.83%. The PAT was up by 37.40% from Rs 4.94 crore to Rs 6.79 crore.
Its purchase tonnage growth showed a significant rise from 15293.58 MT to 29630.67 MT which is up by 93.75% while sales tonnage growth almost doubled from 14449.80 MT to 28908.56 MT up by 100.06% as compared to FY 2023. Prime Fresh Limited’s F&V procurement during FY24 in terms of tonnage has grown to 29630.67 MT from 15293.58 MT during FY2023. The F&V Tonnage Sales have increased to 28908.56 MT tonnes during FY2024 from 14449.80 MT tonnes during the previous year.
The rise in the overall business has majorly come from the products like Onion, Potato, Apple, Orange Nagpur and Sweet lime. Team Prime Fresh remains optimistic about further growth during FY2025 backed by sustainable rise in capabilities, competency, team, capital & network of supply chain partners. PFL’s each location has huge scope for better capacity utilization & higher productivity gains.
During the Financial year 2024, Prime Fresh Limited continued to focus on Growth & Expansion of Procurement network, Distribution centres, team addition and product portfolio enhancements.
While speaking about the financial results of FY 2024 and business updates, Jinen Ghelani, Chairman, Managing Director and CFO, Prime Fresh Limited said, “With a robust ecosystem spanning through multiple states and district boundaries across India, PFL today, is a leading national player in the fruits and vegetables supply chain management landscape. As a pioneer in its domain with 17 years of building the enterprise, Prime Fresh demonstrates an Omni Channel business model, refined processes, and a distinctive market positioning that sets it apart from its competitors. In the realm of fruits and vegetables supply chain, Prime Fresh has cemented its position as a leader, demonstrating consistent sales, profitability, and a growth trajectory, establishing a reputation built on enduring performance across an extended timeline. The strength of Prime Fresh Limited’s business model lies in its exceptional reach, a substantial base of farmers, a well-entrenched supply chain ecosystem, and robust partnerships with major entities like MT ecommerce, GT, Food Processors, APMCs, etc. These segments collectively pave the way for sustainable sales and profitability growth.”
Hiren Ghelani, Whole-Time Director, Prime Fresh Limited shared, “Over the span of 17 years, Prime Fresh has been a well-established player mastering the core activities from sourcing across different states of India (85 Districts in Maharashtra, Gujarat, Rajasthan, UP & Kashmir, Himachal) to distribution of Fruits & Vegetables through multiple platforms (Domestic & Global markets). Prime Fresh has successfully built a huge network of Farmers, aggregators, various cold storages, pack houses, transportation services and other supply chain partners for all kinds of fresh Fruits and Vegetables. PFL is providing employment directly & indirectly to almost 1,00,000 people across India. PFL credits a huge experience since 2007 in sourcing, handling, sorting & grading, warehousing, ripening, storage, packing and delivery of Fresh Fruits and vegetables. Prime Fresh has built a wide network of over 1,10,000+ Farmers, 85+ Agriculture Markets & 2400+ Trade Partners, 30+ large corporate B2B buyers, 20+ Exporters & Network in 6 countries for Exports.”
