BSE: 519475
CHORDIA FOOD PRODUCTS LTD.
Processes and sells packaged foods — processed foods, vegetables and makhana — through its Food Division, and operates cold storage facilities under its Food Infrastructure Division. For FY26, total revenue from operations was Rs 4.7669 crore, up 51.46% year-on-year, with net profit of Rs 0.775 crore. In the segment breakdown for the year ended 31 March 2026, the Food Division booked Rs 0.706 crore of revenue with EBIT of Rs 0.0765 crore, and the Food Infrastructure Division (cold storage) booked Rs 0.8676 crore of revenue with EBIT of Rs 0.2267 crore. The cost shape is unusually weighted towards fixed costs: raw materials are a negligible 0.3% of revenue, while other operating expenses are 25.2%, depreciation 19.4% and employee costs 14.4%, reflecting the asset-heavy cold-storage side of the business. Operating cash flow strengthened to Rs 230.38 lakhs in FY26 from Rs 57.58 lakhs the prior year. The board declared no dividend for FY26, and the statutory auditor issued an unmodified opinion on the financial statements. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Food Division, Food Infrastructure Division. Small, asset-heavy packaged foods processor and cold-storage operator.
Exhibit 1: Financial summary, FY20–FY22 (all audited; no estimate years)
| ₹ crore · consolidated | FY20 | FY21 | FY22 |
|---|---|---|---|
| Revenue | 65 | 78 | 81 |
| EBITDA (ex other income) | 3 | 3 | (2) |
| margin % | 5.3 | 4.0 | (2.7) |
| Owners' profit | 1 | 0 | 0 |
| EPS, as reported (₹) | 1.64 | 3.82 | (11.83) |
| ROE % · ROCE % | 1.9 · 4.2 | 2.1 · 4.5 | (15.1) · (12.5) |
| Debt / equity (x) | 0.14 | 0.18 | 0.42 |
| Cash from operations | — | 3 | (2) |
| Capex | — | (2) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY21 | Q3 FY21 | Q4 FY21 | Q1 FY22 | Q2 FY22 | Q3 FY22 | Q4 FY22 | Q1 FY23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 20 | 18 | 20 | 18 | 17 | 21 | 24 | 29 |
| Profit before tax | 1 | (0) | 1 | (2) | (1) | (1) | (1) | (1) |
| Net profit | 0 | (0) | 0 | (2) | (1) | (1) | (1) | (1) |
| EPS (₹) | 1.07 | (0.53) | 2.18 | (5.60) | (2.23) | (1.32) | (2.68) | (1.36) |
Exhibit 3: Segment revenue, FY22
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| FOOD DIVISION | 61 | 74.9 |
| FOOD INFRASTRUCTURE DIVISION | 2 | 2.4 |
| Food Division | 18 | 21.9 |
| Food Infrastructure Division | 1 | 0.8 |
| Total, before eliminations | 82 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NESTLE INDIA LIMITED | 2,25,418 | 59.2 | 43.71 | 41.0 | 67.9 | 54.7 | — | 24.4 |
| BRITANNIA INDUSTRIES LTD | 1,10,429 | 42.4 | 21.50 | 29.6 | 49.4 | 59.8 | 7.8 | 18.0 |
| ZYDUS WELLNESS LIMITED | 14,793 | 78.6 | 2.54 | 37.6 | 3.4 | 2.4 | 16.2 | 17.1 |
| BIKAJI FOODS INTERN LTD | 11,603 | 44.9 | 6.80 | 25.7 | 14.9 | 18.3 | — | 15.3 |
| BOMBAY BURMAH TRADING COR | 8,286 | 6.4 | 0.86 | 2.4 | 26.0 | 33.5 | 7.8 | 17.7 |
| MRS BECTORS FOOD SPE LTD | 5,577 | 18.9 | 4.39 | 19.6 | 11.1 | 13.1 | 18.3 | 14.7 |
| GOPAL SNACKS LIMITED | 3,057 | 36.4 | 6.38 | — | 15.4 | 19.4 | — | 7.6 |
| ADF FOODS LIMITED | 2,635 | 28.6 | 4.61 | 17.9 | 15.7 | 18.8 | 13.1 | 18.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 1.3 | 2.6 | 11 of 34 | 70% |
| ROCE | (14.7) | 7.4 | 40 of 40 | 0% |
| ROE | (15.1) | 7.7 | 34 of 34 | 0% |
| Debt / Equity | 0.4 | 0.1 | 27 of 33 | 19% |
| EBITDA margin | 1.0 | 9.9 | 30 of 33 | 9% |
| Revenue growth | 60.1 | 14.1 | 9 of 36 | 77% |
| Profit growth | 75.6 | 14.1 | 11 of 33 | 69% |
| Market cap | 41 | 96 | 27 of 43 | 38% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Quarterly Demat Compliance Certificate for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · 44th AGM voting results: both resolutions passed with near-unanimous support | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closure from Oct 1, 2026 for Q2 Results | compliance | minimal | — | — |
| 27 Sept 2026 · Scrutinizer report on 44th AGM voting results submitted | compliance | minimal | — | — |
| 26 Sept 2026 · 44th AGM Proceedings - Chordia Food Products | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Newspaper publication of 44th AGM Notice submitted to BSE | compliance | minimal | — | — |
| 27 Aug 2026 · 44th AGM notice on 26 Sep 2026; book closure from 19 Sep; no dividend | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Chordia Food Products files 44th Annual Report for FY26, AGM on Sep 26 | compliance | low | — | — |
| 27 Aug 2026 · Chordia Food Products - 44th AGM on 26 Sep 2026, no dividend | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Board approves Q1 FY26 results, PAT drops about 50 percent YoY | results | high | — | — |
How to read this document
| 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 | 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 |
Sources, method and disclosures
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.