Manufactures and exports packaged ethnic Indian foods — sauces, pickles and frozen foods — under brands led by Ashoka and Truly Indian. Revenue splits into two segments: processed and preserved foods at 85% of FY26 segment revenue (INR580.86 cr) and a Distribution Business at 15% (INR102.37 cr). The product business sells to the Indian diaspora and, increasingly, to mainstream consumers abroad, with the distribution arm carrying third-party food brands. The Truly Indian brand is now in around 3,000 U.S. stores including Costco, Whole Foods and Safeway-Albertsons, and a greenfield plant at Surat commenced commercial production in March 2026. Consolidated FY26 revenue was INR683.23 cr at a 21.07% EBITDA margin; raw materials are the largest input cost at 27.6% of revenue, with other operating expenses at 33.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Processed and preserved foods (85%), Distribution Business (15%). Asset-light branded packaged foods exporter with a heavy export skew and growing U.S. mainstream retail presence.
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 421 | 450 | 520 | 590 | 683 |
| EBITDA (ex other income) | 67 | 81 | 105 | 98 | 124 |
| margin % | 15.8 | 17.9 | 20.2 | 16.7 | 18.1 |
| Owners' profit | 48 | 56 | 75 | 69 | 90 |
| EPS, as reported (₹) | 23.97 | 25.62 | 6.85 | 6.30 | 8.19 |
| ROE % · ROCE % | 14.0 · 16.1 | 13.2 · 16.2 | 16.7 · 19.9 | 14.1 · 16.8 | 15.7 · 19.2 |
| Debt / equity (x) | 0.04 | 0.00 | 0.00 | 0.02 | 0.02 |
| Cash from operations | 34 | 51 | 70 | 37 | 58 |
| Capex | (12) | (25) | (15) | (41) | (83) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 161 | 147 | 159 | 133 | 163 | 191 | 197 | 167 |
| Profit before tax | 26 | 25 | 21 | 21 | 36 | 27 | 36 | 23 |
| Net profit | 20 | 19 | 16 | 15 | 26 | 22 | 26 | 17 |
| EPS (₹) | 1.79 | 1.71 | 1.50 | 1.39 | 2.40 | 2.04 | 2.36 | 1.57 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Distribution Business | 52 | 7.7 |
| Processed and preserved foods | 448 | 65.5 |
| Agency Distribution | 29 | 4.3 |
| Processed and Preserved Foods | 133 | 19.5 |
| Distribution business | 21 | 3.0 |
| Total, before eliminations | 683 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 22 Aug 2026 · ADF Foods: GM Accounts Purvi Dwivedi resigns effective 21 Aug 2026 | management changes | medium | — | — |
| 18 Aug 2026 · Special window opened for physical share transfers and demat | compliance | minimal | — | — |
| 12 Aug 2026 · ADF Foods 36th AGM held; final dividend of Rs 0.60 per share declared | board shareholder meetings | low | — | — |
| 11 Aug 2026 · CRISIL upgrades ADF Foods long-term rating to A+/Stable | credit debt | medium | — | — |
| 11 Aug 2026 · Notice of loss of share certificates, duplicate issue planned | compliance | minimal | — | — |
| 4 Aug 2026 · ADF Foods Q1 FY27 transcript posted, revenue up 25.9% to INR167 cr | investor communications | medium | — | — |
| 31 Jul 2026 · ADF Foods gets ESG rating of 55 (Adequate) from CRISIL | general | medium | — | — |
| 30 Jul 2026 · Audio link shared for Q1 FY2026-27 earnings call | investor communications | low | — | — |
| 30 Jul 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 29 Jul 2026 · ADF Foods Q1 FY27: Revenue up 26% YoY at INR 167 Cr; EBITDA up 26% | investor communications | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| NESTLE INDIA LIMITED |
| 2,66,742 |
| 70.0 |
| 51.72 |
| 48.5 |
| 67.9 |
| 54.7 |
| — |
| 24.4 |
| BRITANNIA INDUSTRIES LTD | 1,19,535 | 45.9 | 23.27 | 32.0 | 49.4 | 59.8 | 7.8 | 18.0 |
| ZYDUS WELLNESS LIMITED | 17,452 | 92.7 | 3.00 | 43.2 | 3.4 | 2.4 | 16.2 | 17.1 |
| BIKAJI FOODS INTERN LTD | 13,784 | 53.3 | 8.07 | 30.5 | 14.9 | 18.3 | — | 15.3 |
| BOMBAY BURMAH TRADING COR | 9,974 | 7.7 | 1.04 | 2.8 | 26.0 | 33.5 | 7.8 | 17.7 |
| MRS BECTORS FOOD SPE LTD | 7,452 | 25.3 | 5.86 | 26.1 | 11.1 | 13.1 | 18.3 | 14.7 |
| GOPAL SNACKS LIMITED | 3,225 | 38.4 | 6.74 | — | 15.4 | 19.4 | — | 7.6 |
| ADF FOODS LIMITED ◆ | 2,968 | 32.3 | 5.19 | 20.2 | 15.7 | 18.8 | 13.1 | 18.4 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 32.3 | 31.1 | 22 of 40 | 46% |
| P/B | 5.2 | 3.0 | 23 of 34 | 33% |
| ROCE | 18.8 | 7.0 | 8 of 41 | 83% |
| ROE | 15.7 | 7.7 | 9 of 36 | 77% |
| Debt / Equity | 0.0 | 0.1 | 14 of 36 | 63% |
| EBITDA margin | 18.4 | 9.9 | 4 of 33 | 91% |
| Revenue growth | 25.9 | 14.1 | 14 of 36 | 63% |
| Profit growth | 13.4 | 14.1 | 18 of 33 | 47% |
| Market cap | 2968 | 91 | 8 of 43 | 83% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
