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Amira Nature Foods Ltd Announces Fourth Quarter And Full Year Fiscal 2014 Financial Results

Stocks in this article: ANFI

Amira Nature Foods Ltd (the "Company") (NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today reported financial results for the fourth quarter and full year ended March 31, 2014.

Fourth Quarter Financial Highlights:

  • Revenue increased 33.0% to $186.6 million compared to $140.2 million
  • Adjusted EBITDA increased 45.4% to $26.4 million compared to $18.1 million
  • Adjusted EBITDA margin increased by more than 100 bps to 14.1% of sales
  • Adjusted profit after tax increased 97.2% to $16.8 million compared to $8.5 million
  • Basic earnings per share (1) was $0.47 compared to $0.24
  • Adjusted earnings per share was $0.47 compared to $0.24

Fiscal Year 2014 Financial Highlights:

  • Revenue increased 32.3% to $547.3 million compared to $413.7 million
  • Adjusted EBITDA increased 44.0% to $75.5 million compared to $52.4 million
  • Adjusted EBITDA margin increased by more than 100 bps to 13.8% of sales
  • Profit after tax increased 98.1% to $38.1 million compared to $19.2 million
  • Adjusted profit after tax, which excludes non-cash expenses for share based compensation of approximately $2.9 million, increased 93.2% to $41.0 million compared to $21.2 million
  • Basic and diluted earnings per share (1) was $1.04 compared to $0.63
  • Adjusted earnings per share was $1.14 compared to $0.59

(All comparisons above are to the fourth quarter and fiscal year 2014, respectively. Non-IFRS financial measures are reconciled in the tables below.)

Karan A. Chanana, Amira's Chairman and Chief Executive Officer, stated, “We are very pleased with our performance in the fourth quarter and full year 2014, where we grew sales dramatically, improved operating margins, nearly doubled income and made significant investment for continued future growth.”

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