Press Release For the Unaudited Financial Results for the half year ended on 30 September 2025
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DSM Fresh Foods (Zappfresh) reported a strong first set of results post its BSE listing. Revenue from operations grew 43% year-on-year to INR 95.85 crore in H1 FY26, up from INR 66.92 crore in H1 FY25. EBITDA surged 188% to INR 14.92 crore, while profit after tax (PAT) nearly tripled to INR 7.03 crore versus INR 2.44 crore a year earlier. Gross profit rose 68% to INR 32.17 crore, indicating margin expansion. The company noted that H1 FY26 revenue is already 73% of its entire FY25 revenue and that it has matched FY25's full PBT within just six months of FY26. Management highlighted strengthening supply chain, deeper HORECA partnerships, and extended credit to key B2B clients as drivers, with working capital cycle lengthening as a result.
This is a robust first earnings print as a listed company and is likely to be viewed positively by retail investors, signalling scalable and profitable growth in the fresh protein and ready-to-cook segment. The longer working capital cycle tied to B2B expansion is a point to watch, but overall leverage remains comfortable and growth momentum is strong.