Amira Nature Foods Ltd Gains 29%; Boosts FY15 Outlook

Amira Nature Foods Ltd.

shares gained nearly 29 percent Wednesday after the Indian specialty rice supplier boosted its 2015 outlook, citing market expansion in India and internationally. Dubai-based Amira, which sells Basmati long-grain rice in 60 countries, changed hands recently at $12.63, up $2.83. Shares in the year to date are off nearly 20 percent. The company expects 2015 revenue growth of 25 percent, up from its November forecast of 20 percent revenue growth. Revenue in 2014 grew 32.3 percent to $547.3 million, suggesting a 2015 forecast of $684.1 million; analysts, on average, expect 2015 revenue of $688.47 million. The company also forecast growth of 25 percent for its adjusted earnings before interest, taxes, interest depreciation and amortization. Amira's adjusted EBITDA in 2014 grew 44 percent to $75.5 million, suggesting a 2015 forecast of $94.4 million.