Innovative Foods Limited
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BSE Code:
519210
NSE Code:
INOVATMARN
Business Profile
Business Profile
Innovative Foods (INOVAFOOD) is engaged in the processing of raw and cooked marine products. It was incorporated on Sep. 01, 1989.
The company processes shrimps, fish, cuttlefish, squid, lobsters, and specialty product like sushi shrimp, tempura shrimp, pasteurized crab meat, clams, mussel and seafood mix. The processing units are located in Mumbai (Maharashtra), Cochin (Kerala) and Pamarru (Andhra Pradesh) with cold storage capacities of 1,000 MT, 700 MT and 600 MT respectively.
In 2007, Amalgam Foods and Beverages merged into the company and Residency Foods & Beverages acquired 67% of the merged entity as a strategic investor as per the rehabilitation scheme approved by the Board for Industrial and Financial Reconstruction (BIFR).
The registered office of the company is located at Amalgam House XXIV/1604 P No 9, Bristow Road, Willingdon Island, Kochi-682003, Kerala.
Financials
Innovative Foods registered a loss of Rs 9.64 million for the quarter ended September 2007.
Net sales increased 29.51 times to Rs 53.42 million for the quarter ended September 2007 from Rs 1.81 million for the quarter ended September 2006.
Total income rose 2,393.64% to Rs 54.86 million for the quarter ended September 2007 from Rs 2.2 million for the quarter ended September 2006.
The loss per share of the company stood at Rs 0.83 for the quarter ended September 2007.