Hindustan Foods was locked in 5 per cent upper circuit for the third straight day at Rs 858 - also its all-time high -- on the BSE. DFM Foods hit a 52-week high of Rs 360 after rallying 7 per cent in intra-day trade. The stock has surged 24 per cent in the past four trading days. In comparison, the S&P BSE Sensex was down 0.85 per cent at 38,657 points, at 01:01 pm.

Both these stocks have seen their market price more-than-doubled from their March lows. DFM Foods zoomed 140 per cent from level of Rs 150, while Hindustan Foods soared 123 per cent from level of Rs 384 on the BSE.

Hindustan Foods, contract manufacturers of fast moving consumer goods (FMCG), reported 33 per cent year-on-year (YoY) growth in Ebitda (earnings before interest, taxes, depreciation, and amortization) at Rs 15.1 crore for April-June quarter (Q1FY21). Total revenue grew 40 per cent YoY at Rs 202 crore. Margins however, contracted 34 basis points to 7.46 per cent.

The management said the performance of the Company was affected by lockdown, the reverse migration of labour, the unavailability of trucks, the shutdown of the up-stream factories and a resultant lack of raw and packing materials.

The Company is on track to have record turnover in the second quarter. This has been aided by an increased demand for home and hygiene products in its factory in Hyderabad and also an increase in the demand for household insecticides in factory in Jammu.

The company said it has entered into a long -term contract to manufacture a leading brand of toilet cleaner for its upcoming facility in Silvassa. The board has sanctioned a further investment of Rs 150 crore in Hyderabad on the back of the successful commercialization of the liquid facility. The total investment of Rs 400 crore would be funded by internal accruals and debt, it said.

“The growth of Indian snacks market will be on account of product innovation, changing consumer food habits and rising per capita income of the country. With a growing health-conscious population, the Indian snacks industry is moving towards healthy snacking. The Industry is likely to recuperate in the 2nd half of the FY2020-21 and grow moderately in FY 2020-21,” DFM Foods said in annual report.

DFM Foods is engaged in the business of manufacturing, selling, and marketing of packaged foods. The company markets its products under the brand names of “CRAX”, CURLS”, “NATKHAT” and “FRJTTS”.