Net profit of Hindustan Foods rose 52.71% to Rs 6.49 crore in the quarter ended December 2019 as against Rs 4.25 crore during the previous quarter ended December 2018. Sales rose 69.20% to Rs 207.14 crore in the quarter ended December 2019 as against Rs 122.42 crore during the previous quarter ended December 2018.

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Hindustan Foods will hold a meeting of the Board of Directors of the Company on 12 February 2020.

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Pursuant to the scheme of arrangement of Avalon Cosmetics(Demerged Company) with Hindustan Foods (ResultingCompany) becoming effective on 27 December 2019, the Board of Hindustan Foods has on 16 January 2020 allotted 49,27,799 Equity Shares of Rs. 10/- per share to the shareholders of Avalon Cosmetics, in the ratio of 42.15 fully paid-up Equity Share of Rs. 10/- each of the Company for every 1 (One) fully paid-up Equity Share held in Avalon Cosmetics.

Further, the Board has allotted 27,77,779 Equity Shares of Rs. 10 eachat a premium of Rs. 350 per Share on conversion of warrants.

Consequently. w.e.f. from 16 January 2020, the issued, Subscribed and Paid up Equity Share Capital of the Company stands increased to Rs. 21,19,80,0780 consisting of 2,11,98,078 Equity Shares of Rs. 10 each.

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Hindustan Foods has fixed 15 January 2020 as record date for issue of 42.15 equity shares of Rs 10 each of the company (resulting company) for each equity share held in Avalon Cosmetics (demerged entity) under the scheme of arrangement.

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