Amira Nature Foods Ltd Announces First Quarter 2015 Financial Results

  Amira Nature Foods Ltd Announces First Quarter 2015 Financial Results               First Quarter Revenue Grew 25.9 % to $138.8 Million                 Adjusted EBITDA Increased 30.9% to $19.1 Million  Business Wire  DUBAI, United Arab Emirates -- August 28, 2014  Amira Nature Foods Ltd (the “Company;” or “Amira” NYSE: ANFI), a leading global provider of packaged Indian specialty rice, today reported financial results for its fiscal 2015 first quarter which ended on June 30, 2014.  First Quarter Financial Highlights:    *Revenue grew 25.9% to $138.8 million compared to $110.3 million in the     year earlier period   *Adjusted EBITDA increased 30.9% to $19.1 million compared to $14.6 million   *Adjusted EBITDA margin increased to 13.7% percent of sales compared to     13.2%   *Adjusted profits after tax increased 24.7% to $9.3 million compared to     $7.4 million   *Basic earnings per share was $0.25 compared to $0.21   *Adjusted earnings per share was $0.26 compared to $0.21  Karan A. Chanana, Amira’s Chairman and Chief Executive Officer, stated, “Our strong first quarter performance reflects increased demand and a favorable pricing environment for our products - with gains in our core Indian and Middle East markets, as well as in developed markets, such as the US, the UK and Continental Europe where we continue to make inroads in these priority markets. We believe that fiscal 2015 will be a great year and we expect to meet our growth forecasts as we expand markets and distribution points around the world.”  Bruce Wacha, Amira’s Chief Financial Officer, added, “We are pleased with the progress in the first quarter – we grew top line, adjusted EBITDA and profits by approximately 25% or more, while also increasing margins and improving our balance sheet. We added to inventory during the quarter providing support for our future sales growth and simultaneously reduced our trade payables and debt.”  First Quarter Fiscal 2015 Results  Revenue for the first quarter of fiscal 2015 increased 25.9% to $138.8 million, compared to $110.3 million for same period in fiscal 2014. The revenue increase was primarily due to continuing increases in sales volume, pricing and mix. Amira branded and third party branded sales increased by 29.3% to $136.8 million. Revenue from institutional sales fell marginally in dollar terms to $2.0 million from $4.4 million a year ago. Sales in India increased by 20.9% to $55.8 million (an increase of 30.3% in Indian rupees), while non-India or international sales increased by 29.5% to $83.0 million.  Cost of materials including change in inventory of finished goods increased by $20.7 million, or 23.7% to $108.2 million in the first quarter of fiscal 2015 from $87.5 million in the first quarter of 2014, primarily reflecting revenue growth during that period. As a percentage of revenue, cost of materials including change in inventory of finished goods decreased to 78.0% in the three months ended June 30, 2014, versus 79.3% in the same period a year ago, due to improved pricing, operating efficiencies and continued benefit from economies of scale.  Adjusted EBITDA increased by approximately $4.5 million or 30.9% to $19.1 million, with adjusted EBITDA margins increasing by approximately 50 basis points to 13.7%. Adjusted EBITDA benefited from improvements in cost of materials including change in inventory of finished goods and freight, forwarding and handling, which improved by approximately 140 basis points and 240 basis points as a percentage of sales, respectively. These gains were offset in part by slight increases in employee benefit costs and other expenses.  Adjusted profit after tax increased by $1.8 million or 24.7% to $9.3 million for the three months ended June 30, 2014. Adjusted EPS increased by 23.8% to $0.26 per share from $0.21 per share in the year-ago quarter.  A reconciliation of Adjusted EBITDA, Adjust profit after tax and Adjusted EPS is provided in the “Non-IFRS Financial Measures” section of this release.  Balance Sheet and Cash Flow Highlights  At June 30, 2014, the Company’s cash and cash equivalents was $32.8 million and adjusted net working capital was $311.1 million. Net debt (after deducting cash and cash equivalents) as of June 30, 2014 was $150.2 million. As of June 30, 2014, inventories increased $10.7 million to $265.7 million from $255.0 at March 31, 2014, trade receivables were $71.4 million, a decrease of $9.5 million from $80.9 million, trade payables were $23.7 million, a decrease of $17.5 million from $41.2 million and total debt was $182.9 million a decrease of $1.9 million from $184.8 million. Reconciliations of adjusted net working capital and net debt to the IFRS measures of working capital and total current and non-current debt, respectively, are provided in the “Non-IFRS Financial Measures” section of this release.  Fiscal 2015 Outlook  The Company reiterates its previously-issued guidance and expects full-year fiscal 2015 Revenue and Adjusted EBITDA growth in excess of 20%. This is in line with long-term guidance previously provided to the investment community. The Company’s guidance is based on foreign exchange rates as of June 30, 2014 and does not take into account the potential impact of foreign currency fluctuations for the remainder of the fiscal year.  Conference Call  The Company will hold an investor call today at 5:00 p.m. Eastern time. The dial-in number for this conference call is 1-877-407-3982 for North American listeners and 1-201-493-6780 for international listeners. Live audio of the conference call will be simultaneously webcast on the investor relations section of the Company's website at www.amira.net.  An audio replay will be available following the completion of the conference call by dialing 1-877-870-5176 for North American listeners or 1-858-384-5517 for international listeners (conference ID 13589712). The webcast of the teleconference will be archived and available on the Company’s website.  About Amira Nature Foods Ltd.  Founded in 1915, Amira has evolved into a leading global provider of branded packaged Indian specialty rice, with sales in over 60 countries today. The Company sells Basmati rice, which is a premium long-grain rice grown only in certain regions of the Indian sub-continent, under its flagship Amira brand as well as under other third party brands. Amira sells its products through a broad distribution network in both the developed and emerging markets. The Company’s global headquarters are in Dubai, United Arab Emirates, and it also has offices in India, Malaysia, Singapore, Germany, the United Kingdom, and the United States. Amira Nature Foods Ltd is listed on the New York Stock Exchange (NYSE) under the ticker symbol “ANFI.” For more information please visit www.amira.net.  Cautionary Note on Forward-Looking Statements  This release contains forward-looking statements within the meaning of the U.S. federal securities laws. These forward-looking statements generally can be identified by phrases such as that we or our members of management “believe,” “expect,” “anticipate,” “foresee,” “forecast,” “estimate” or other words or phrases of similar import. Specifically, these statements include, among other things, statements that describe our expectations for the growth of our business, expansion into new geographic markets, maintaining and expanding our relationship with key retail partners, the financial impact of new sales contracts on our revenue, our plans to make significant capital expenditures, and other statements of management’s beliefs, intentions or goals. It is uncertain whether any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do, what impact they will have on our results of operations, financial condition, or the price of our ordinary shares. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ materially from those indicated in such forward-looking statements, including but not limited to our ability to penetrate and increase the acceptance of our products in new geographic markets; our ability to perform our agreements with customers and further develop our relationships with key retail partners; our ability to recognize revenue from our contracts; continued competitive pressures in the marketplace; our reliance on a few customers for a substantial part of our revenue; our ability to implement our plans, forecasts and other expectations with respect to our business and realize additional opportunities for growth; and the other risks and important factors contained and identified in our filings with the Securities and Exchange Commission. All forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by these risk factors. Since we operate in an emerging and evolving environment and new risk factors and uncertainties emerge from time to time, you should not rely upon forward-looking statements as predictions of future events. Except as required under the securities laws of the United States, we undertake no obligation to update any forward-looking or other statements herein to reflect events or circumstances after the date hereof, whether as a result of new information, future events or otherwise.  Amira Nature Foods Ltd    Condensed Consolidated Statements of Financial Position                                                             (Amounts in USD)                                               As at           As at                                                June 30, 2014  March 31, 2014                                                (Unaudited)     (Audited) ASSETS                                                       Non-current Property, plant and equipment                 $ 22,932,608    $   23,284,918 Goodwill                                        1,715,677         1,727,338 Other intangible assets                         2,162,311         2,262,731 Other long-term financial assets               474,135         485,731 Total non-current assets                      $ 27,284,731   $   27,760,718                                                                    Current Inventories                                   $ 265,659,869   $   254,952,549 Trade receivables                               71,430,171        80,882,986 Derivative financial assets                     1,703,560         2,352,886 Other financial assets                          8,521,456         9,768,514 Prepayments                                     11,401,333        8,361,244 Other current assets                            926,012           765,655 Cash and cash equivalents                      32,772,640      37,606,098 Total current assets                          $ 392,415,041  $   394,689,932 Total assets                                  $ 419,699,772  $   422,450,650                                                                    EQUITY AND LIABILITIES Equity Share capital                                 $ 9,119         $   9,115 Share premium                                   82,859,746        82,804,750 Other reserves                                  (2,975,498)       (3,312,575) Retained earnings                               81,639,073        74,334,687 Equity attributable to shareholders of the    $ 161,532,440   $   153,835,977 Company Equity attributable to non-controlling         19,991,851      18,005,030 interest Total equity                                  $ 181,524,291  $   171,841,007                                                                    Liabilities Non-current liabilities Defined benefit obligations                   $ 285,321       $   246,548 Debt                                            2,278,595         2,739,414 Deferred tax liabilities                       6,452,263       6,666,270 Total non-current liabilities                 $ 9,016,179    $   9,652,232                                                                    Current liabilities Trade payables                                $ 23,699,654    $   41,197,158 Debt                                            180,648,431       182,103,347 Current tax liabilities (net)                   12,677,147        9,644,944 Other financial liabilities                     10,617,040        6,031,593 Other current liabilities                      1,517,030       1,980,369 Total current liabilities                     $ 229,159,302  $   240,957,411 Total liabilities                             $ 238,175,481  $   250,609,643 Total equity and liabilities                  $ 419,699,772  $   422,450,650                                                                     Amira Nature FoodsLtd    Condensed Consolidated Statements of Profit or Loss                                                                                                                         (Amounts in USD)                                             Three months ended                                             June 30, 2014     June 30, 2013                                                                                                          (Unaudited)       (Unaudited) Revenue                                     $ 138,812,972     $  110,285,088 Other income                                  50,459             37,876 Cost of material                              (144,236,899)      (89,871,922) Change in inventory of finished goods         35,988,839         2,368,511 Employee benefit expenses                     (2,558,508)        (2,144,918) Depreciation and amortization                 (620,052)          (488,883) Freight, forwarding and handling expenses     (4,875,737)        (6,541,015) Other expenses                               (5,443,596)      (3,421,597)                                             $ 17,117,478      $  10,223,140 Finance costs                                 (7,031,586)        (5,163,522) Finance income                                636,046            784,977 Other gains and (losses)                     1,262,567        3,758,638 Profit before tax for the period            $ 11,984,505      $  9,603,233 Income tax expense                           (2,775,690)      (2,256,537)                                                                   Profit after tax for the period             $ 9,208,815       $  7,346,696 Profit after tax attributable to: Shareholders of the Company                   7,304,386          5,880,748 Non-controlling interest                      1,904,429          1,465,948                                                                   Earnings per share^(1) Basic earnings per share                    $ 0.25            $  0.21 Diluted earnings per share                  $ 0.25           $  0.21  ^(1)Basic earnings per share is calculated by dividing our profit after tax as reduced by the amount of a non-controlling interest reflecting the remaining 19.6% of Amira India that is not owned by us, by the number of our weighted average outstanding ordinary shares, during the applicable period. Diluted earnings per share is calculated by dividing our profit after tax as reduced by the amount of a non-controlling interest reflecting the remaining 19.6% of Amira India that is not owned by us, by the number of our weighted average outstanding ordinary shares adjusted by the dilutive impact of equivalent stock options granted. For the quarter ended June 30, 2014, the dilutive impact of total share options of 721,535 granted to Mr. Karan A. Chanana through June 30, 2014, is insignificant and hence there is no difference in the presented basic and diluted earnings per share in the table above. For the quarter ended June 30, 2013, the effect of 360,257 share options granted to Mr. Karan A. Chanana through June 30, 2013 was anti-dilutive and has not been considered in the computation of the diluted earnings per share.  Amira Nature FoodsLtd    Condensed Consolidated Statements of Comprehensive Income                                                             (Amounts in USD)                                               Three months ended                                               June 30, 2014   June 30, 2013                                                                                                            (Unaudited)     (Unaudited) Profit after tax for the period               $ 9,208,815    $  7,346,696 Other comprehensive income Items that may be reclassified subsequently to profit or loss: Available for sale financial assets: Current period gain/(loss)                      34,962           28,596 Reclassification to profit or loss              -                - Income tax                                      (7,043)        (9,720)                                               $ 27,919       $  18,876 Cash flow hedging reserve: Current period gain/(loss)                      1,941,271        (7,983,593) Reclassification to profit or loss              (1,295,356)      (513,772) Income tax                                      (219,547)      2,888,254                                               $ 426,368      $  (5,609,111)                                                                Currency translation reserve                    (34,818)       (11,324,434)                                                                   Other comprehensive income/(loss) for the     $ 419,469      $  (16,914,669) period, net of tax Total comprehensive income/(loss) for the     $ 9,628,284    $  (9,567,973) period                                                                   Total comprehensive income/(loss) for the period attributable to: Shareholders of the Company                   $ 7,641,463     $  (7,718,646) Non-controlling interest                     $ 1,986,821    $  (1,849,327)                                                                    Amira Nature FoodsLtd    Condensed Consolidated Statements of Changes in Equity                                                                                                                                                                                                                                                                                                                                      (Amounts in USD)                                     Other reserves                                                                                                                                                                         Reserve                                                                         Equity           Equity                                              Share-           for           Currency                                                          attributable     attributable                   Share       Share          based            available     translation      Cash flow       Restructuring     Retained       to               to                capital   premium      compensation   for         reserve        hedging       reserve         earnings     shareholders   non -          Total equity                                              reserve          sale                           Reserve                                          of the           controlling                                                               financial                                                                      Company          interest                                                               assets Balance as at April 1, 2013   $ 9,111     $ 82,683,926   $ 183,514       $ (21,561)   $ (5,582,983)   $ 258,647      $ 9,398,927       $ 44,375,024   $ 131,304,605    $ 12,328,130     $ 143,632,735 (Audited) Share based       -           -              85,811           -             -                -               -                 -            $ 85,811           -              $ 85,811 compensation Profit after tax for the       -           -              -                -             -                -               -                 5,880,748    $ 5,880,748        1,465,948      $ 7,346,696 period Other comprehensive income            -           -              -                15,177        (9,104,846)      (4,509,725)     -                 -            $ (13,599,394)     (3,315,275)    $ (16,914,669) /(loss) for the period Total comprehensive income/(loss)  $ -        $ -           $ -             $ 15,177     $ (9,104,846)   $ (4,509,725)  $ -              $ 5,880,748   $ (7,718,646)   $ (1,849,327)   $ (9,567,973) for the period Balance as at June 30, 2013  $ 9,111    $ 82,683,926  $ 269,325       $ (6,384)    $ (14,687,829)  $ (4,251,078)  $ 9,398,927      $ 50,255,772  $ 123,671,770   $ 10,478,803    $ 134,150,573 (Unaudited)                                                                                                                                                 Balance as at April 1, 2014   $ 9,115     $ 82,804,750   $ 2,863,362      $ (30,127)    $ (16,018,401)   $ 473,664       $ 9,398,927       $ 74,334,687   $ 153,835,977    $ 18,005,030     $ 171,841,007 (Audited) Share based       4           54,996         -                -             -                -               -                 -            $ 55,000           -              $ 55,000 compensation Profit after tax for the       -           -              -                -             -                -               -                 7,304,386    $ 7,304,386        1,904,429      $ 9,208,815 period Other comprehensive income            -           -            - -                22,435        (27,979)         342,621         -                              $ 337,077          82,392         $ 419,469 /(loss) for the period Total comprehensive income/(loss)  $ -        $ -           $ -             $ 22,435     $ (27,979)      $ 342,621      $ -              $ 7,304,386   $ 7,641,463     $ 1,986,821     $ 9,628,284 for the period Balance as at June 30, 2014  $ 9,119    $ 82,859,746  $ 2,863,362     $ (7,692)    $ (16,046,380)  $ 816,285      $ 9,398,927      $ 81,639,073  $ 161,532,440   $ 19,991,851    $ 181,524,291 (Unaudited)                                                                                                                                                                                   Amira Nature FoodsLtd    Condensed Consolidated Statements of Cash Flows                                                                                                                         (Amounts in USD)                                              Three months ended                                              June 30, 2014    June 30, 2013                                                                                                           (Unaudited)      (Unaudited) (A) CASH FLOW FROM OPERATING ACTIVITIES Profit before tax for the period             $ 11,984,506     $  9,603,233 Adjustments for non-cash items                 1,769,789         (2,052,334) Adjustments for non-operating incomes and      6,394,564         4,374,563 expenses Changes in operating assets and               (19,176,646)    6,585,809 liabilities                                              $ 972,213        $  18,511,271 Income taxes paid                             (180,493)       (225,043) Net cash generated from operating            $ 791,720       $  18,286,228 activities                                                                   (B) CASH FLOW FROM INVESTING ACTIVITIES Purchase of property, plant and equipment    $ (590,823)      $  (315,703) Purchase of intangible assets                  -                 (67,286) Proceeds from sale of property, plant and      1,307             5,332 equipment (Investments in)/ proceeds from term           2,286,850         (749,369) deposits Proceeds from short term investments           (16,700)          (81,000) Interest income                               312,975         171,491 Net cash generated from/ (used in)           $ 1,993,609     $  (1,036,535) investing activities                                                                   (C) CASH FLOWS FROM FINANCING ACTIVITIES Net repayment of short term debt               (1,453,709)       (7,765,937) Repayment of long term debt                    (460,819)         (500,743) Interest paid                                 (5,756,705)     (4,861,822) Net cash used in financing activities        $ (7,671,233)   $  (13,128,502)                                                                   (D) Effect of change in exchange rate on      52,446          (4,779,533) cash and cash equivalents Net decrease in cash and cash equivalents    $ (4,833,458)   $  (658,342) (A+B+C+D) Cash and cash equivalents at the beginning     37,606,098        33,270,338 of the period Cash and cash equivalents at the end of      $ 32,772,640    $  32,611,996 the period  Non-IFRS Financial Measures  In evaluating our business, we consider and use the non-IFRS measures EBITDA, adjusted EBITDA, adjusted profit after tax, adjusted earnings per share, adjusted net working capital and net debt as supplemental measures to review and assess our operating performance. The presentation of these non-IFRS financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with IFRS. We define: (1) EBITDA as profit after tax plus finance costs (net of finance income), income tax expense and depreciation and amortization; (2) adjusted EBITDA, as EBITDA plus non-cash expense for share-based-compensation for three months ended June 30, 2014 and 2013, respectively (3) adjusted profit after tax, as profit after tax plus non-cash expense for share-based compensation for three months ended June 30, 2014 and 2013, respectively; (4) adjusted earnings per share as the quotient of: (a) adjusted profit after tax and (b) the sum of our weighted average number of shares (including dilutive impact of share options granted) for the applicable period and the ordinary shares subject to the exchange agreement between us and the non-controlling shareholders of Amira India; (5) adjusted net working capital as total current assets minus: (a) total current liabilities (b) cash and cash equivalents and plus current debt; and (6) net debt as total current and non-current debt minus cash and cash equivalents.  We use both EBITDA and adjusted EBITDA as measures of operating performance to assist in comparing performance from period to period on a consistent basis, as a measure for planning and forecasting overall expectations, for evaluating actual results against such expectations and as a performance evaluation metric, including as part of assessing and administering our executive and employee incentive compensation programs. We believe that the use of both EBITDA and adjusted EBITDA as non-IFRS measures facilitates investors’ assessment of our operating performance from period to period and from company to company by backing out potential differences caused by variations in items such as capital structure (affecting relative finance or interest expenses), non-recurring IPO-related expenses the book amortization of intangibles (affecting relative amortization expenses), the age and book value of property and equipment (affecting relative depreciation expenses) and other non-cash expenses. We also present these non-IFRS measures because we believe they are frequently used by securities analysts, investors and other interested parties as measures of the financial performance of companies in our industry.  We present adjusted EBITDA, adjusted profit after tax, adjusted earnings per share, adjusted net working capital and net debt because we believe these measures provide additional metrics to evaluate our operations and, when considered with both our IFRS results and the reconciliation to profit after tax, basic and diluted earnings per share, working capital and total current and non-current debt, respectively, provide a more complete understanding of our business than could be obtained absent this disclosure. We also believe that these non-IFRS financial measures are useful to investors in assessing the operating performance of our business after reflecting the adjustments described above.  In the following tables we have provided reconciliation of non-IFRS measures to the most directly comparable IFRS measure:  1. Reconciliation of profit after tax to EBITDA and adjusted EBITDA:                                                                                                  Three months ended                                                June 30, 2014  June 30, 2013                                                                 Profit after tax (PAT)                           $  9,208,815    $  7,346,696 Add: Income tax expense                             2,775,690       2,256,537 Add: Finance costs (net of finance income)          6,395,540       4,378,545 Add: Depreciation and amortization                620,052       488,883 EBITDA                                          $  19,000,097  $  14,470,661 Add: Non-cash expenses for share-based            59,722        85,811 compensation Adjusted EBITDA                                 $  19,059,819  $  14,556,472                                                                       2. Reconciliation of profit after tax to adjusted profit after tax:                                                                                                  Three months ended                                                June 30, 2014  June 30, 2013                                                                 Profit after tax (PAT)                          $  9,208,815   $  7,346,696 Add: Non-cash expenses for share-based            59,722        85,811 compensation Adjusted profit after tax                       $  9,268,537   $  7,432,507                                                                       3. Reconciliation of earnings per share and adjusted earnings per share:                                                                                               Three months ended                                              June 30, 2014  June 30, 2013                                                                 Profit after tax (PAT)                           $  9,208,815    $  7,346,696 Profit attributable to               (A)         $  7,304,386    $  5,880,748 Shareholders of the Company Weighted average number of shares    (B)            28,676,204      28,661,998 (for basic earnings per share) Dilutive impact of stock options as converted in equivalent number   (C)          241,188       - of shares Weighted average number of shares   (D) = (B)    28,917,392    28,661,998 (for diluted earnings per share)     + (C) Shares issuable under exchange      (E)          7,005,434     7,005,434 agreement Basic earnings per share as per     (A) ÷ (B)  $  0.25        $  0.21 IFRS Diluted earnings per share as per   (A) ÷ (D)  $  0.25        $  0.21 IFRS                                                              Profit after tax (PAT)              (F)        $  9,208,815   $  7,346,696 Add: Non-cash expenses for          (G)        $  59,722      $  85,811 share-based compensation Adjusted profit after tax           (H) = (F)  $  9,268,537   $  7,432,507                                      + (G)                                                                      Weighted average number of shares (including dilutive impact of share options granted) and the ordinary shares subject to the      (I) = (D)    35,922,826    35,667,432 exchange agreement between us and    + (E) the non-controlling shareholders of Amira Pure Foods Private Limited Adjusted earnings per share         (H) ÷ (I)  $  0.26        $  0.21                                                                       4. Reconciliation of working capital (total current assets minus total current liabilities) and adjusted net working capital:                                                                                           As at June 30, 2014  As at March 31, 2014                                    (Amount in $) Current assets:                                          Inventories                         265,659,869           254,952,549 Trade receivables                   71,430,171            80,882,986 Derivative financial assets         1,703,560             2,352,886 Other financial assets              8,521,456             9,768,514 Prepayments                         11,401,333            8,361,244 Other current assets                926,012               765,655 Cash and cash equivalents          32,772,640           37,606,098 Total current assets               392,415,041          394,689,932                                                            Current liabilities: Trade payables                      23,699,654            41,197,158 Debt                                180,648,431           182,103,347 Current tax liabilities (net)       12,677,147            9,644,944 Other financial liabilities         10,617,040            6,031,593 Other current liabilities          1,517,030            1,980,369 Total current liabilities          229,159,302          240,957,411                                                        Working Capital as per IFRS (Total current assets minus Total  163,255,739          153,732,521 current liabilities) Less: Cash and cash equivalents     32,772,640            37,606,098 Add: Current debt                  180,648,431          182,103,347 Adjusted net working capital       311,131,530          298,229,770                                                             5. Reconciliation of total current and non-current debt to net debt:                                                                                           As at June 30, 2014  As at March 31, 2014                                    (Amount in $) Current debt                        180,648,431          182,103,347 Non-current debt                    2,278,595             2,739,414 Total current and non-current       182,927,026           184,842,761 debt as per IFRS Less: Cash and cash equivalents    32,772,640           37,606,098 Net debt                           150,154,386          147,236,663  Contact:  Amira Nature Foods Ltd Bruce Wacha, 201-960-0745 bruce.wacha@theamiragroup.com Chief Financial Officer or FTI Consulting Beth Saunders, 212-850-5717 elizabeth.saunders@fticonsulting.com  
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