A 100-year-old honey and FMCG food products company that sells honey, dates (under the MISK Masala Dates range) and jams. FY26 consolidated revenue was ₹390.51 crore, up 11.5% year-on-year, with Q4 FY26 revenue of ₹97.89 crore and Q4 FY26 net profit of ₹10.35 crore (up 27.3% YoY). The company is expanding its jam business with a new 2,400 MT jam facility planned at Roorkee, for which a ₹1.66 crore MoFPI subsidy was approved. Raw materials are the dominant cost at 56.9% of revenue, followed by employee costs at 10.1% and other operating expenses at 20.3%, yielding an FY26 EBITDA margin of 10.64%. Distribution is being strengthened through general trade, with the recent appointment of a National Sales Head-GT Sales. The board also approved a 24:1 bonus issue in December 2025. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Honey and FMCG food products, Jam manufacturing. Legacy branded FMCG food company, 100-year-old honey business, expanding into jams and dates
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 295 | 332 | 316 | 350 | 391 |
| EBITDA (ex other income) | 19 | 22 | 34 | 36 | 36 |
| margin % | 6.3 | 6.7 | 10.9 | 10.2 | 9.2 |
| Owners' profit | 8 | 18 | 33 | 25 | 25 |
| EPS, as reported (₹) | 12.89 | 33.57 | 58.59 | 46.01 | 1.86 |
| ROE % · ROCE % | 8.3 · 15.4 | 15.8 · 16.5 | 22.0 · 21.0 | 14.6 · 18.4 | 12.7 · 17.6 |
| Debt / equity (x) | 1.11 | 0.62 | 0.40 | 0.37 | 0.31 |
| Cash from operations | 10 | 45 | (3) | 6 | 14 |
| Capex | (3) | (2) | (3) | (3) | (6) |
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 87 | 80 | 93 | 90 | 87 | 96 | 110 | 98 |
| Profit before tax | 6 | 7 | 7 | 9 | 6 | 9 | 8 | 9 |
| Net profit | 5 | 7 | 5 | 8 | 3 | 7 | 4 | 10 |
| EPS (₹) | 9.56 | 12.18 | 8.96 | 14.78 | 4.59 | 12.85 | 0.28 | 0.77 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| EID PARRY INDIA LTD | 12,861 | 27.7 | 0.86 | 4.4 | 9.3 | 13.1 | 15.7 | 8.7 |
| MANORAMA INDUSTRIES LTD | 12,300 | 47.9 | 18.03 | 34.0 | 33.0 | 42.4 | — | 30.3 |
| ORKLA INDIA LIMITED | 8,048 | 27.3 | 2.93 | 18.1 | 10.4 | 13.1 | — | 19.9 |
| KRISHIVAL FOODS LIMITED | 963 | 40.6 | 4.82 | 24.9 | 11.1 | 13.1 | — | 13.0 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · APIS India explains delay in Q1 FY27 results filing | results | low | — | — |
| 7 Sept 2026 · Newspaper ad for 44th AGM notice, e-voting and book closure submitted to BSE | compliance | minimal | — | — |
| 5 Sept 2026 · APIS India sends AGM Notice and Annual Report links to non-registered shareholders | compliance | minimal | — | — |
| 5 Sept 2026 · APIS India sets September 30 AGM agenda and proposes new statutory auditor | board shareholder meetings | low | — | — |
| 5 Sept 2026 · APIS India FY26 Annual Report filed; 44th AGM on Sep 30, 2026 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · APIS India AGM Book Closure from Sept 24 to Sept 30, 2026 | board shareholder meetings | low | — | — |
| 29 Aug 2026 · APIS India fixes 44th AGM on Sept 30, 2026; book closure from Sept 24 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Promoter group member gifts 7.77 percent stake to an immediate relative | ownership changes | low | — | — |
| 25 Aug 2026 · Revised disclosure of inter-se share gift among promoter group | ownership changes | low | — | — |
| 24 Aug 2026 · Apis India: Promoter Amit Anand files revised SAST disclosure for share gift received | ownership changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| APIS INDIA LTD. ◆ |
| 716 |
| 2.8 |
| 3.60 |
| 18.7 |
| 12.7 |
| 15.5 |
| 7.4 |
| 11.9 |
| Pajson Agro India Limited | 502 | 38.6 | — | — | — | 24.0 | — | — |
| MEGASTAR FOODS LIMITED | 311 | 31.5 | 3.02 | 12.3 | 9.0 | 7.5 | 26.4 | 5.8 |
| Wardwizard Foods and Beverages | 237 | 40.1 | 2.91 | — | 1.6 | 0.6 | — | 13.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 2.8 | 17.9 | 2 of 28 | 96% |
| P/B | 3.6 | 1.8 | 17 of 19 | 11% |
| ROCE | 15.5 | 12.1 | 12 of 31 | 63% |
| ROE | 12.7 | 5.1 | 4 of 23 | 86% |
| Debt / Equity | 0.3 | 0.4 | 11 of 23 | 55% |
| EBITDA margin | 11.9 | 8.7 | 7 of 21 | 70% |
| Revenue growth | 8.6 | 8.6 | 9 of 17 | 50% |
| Profit growth | 27.3 | 32.7 | 11 of 20 | 47% |
| Market cap | 716 | 118 | 5 of 29 | 86% |
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| 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.
