BSE: 540681
CHOTHANI FOODS LIMITED
Listed on the BSE SME platform, this is a small packaged foods business registered in Ghatkopar East, Mumbai, that reported ₹833 lakh of revenue in FY26, up 4.1% from ₹800.20 lakh in FY25. Filings describe a recent shift in the operating model from trading to manufacturing, with purchases of stock-in-trade falling to zero in H1 FY26 while cost of materials consumed jumped to ₹419 lakh. Profit after tax declined to ₹11.33 lakh in FY26 from ₹13.61 lakh in FY25, and the company slipped into a small loss of ₹1.19 lakh in H2 FY26 after earning ₹12.53 lakh in H1. Total assets stood at ₹20.95 crore at FY26-end, with inventories of ₹1,215.55 lakh and short-term borrowings of ₹114.46 lakh. The FY26 consolidated cost shape lists employees at 4.6% of revenue and other operating expenses at 7.5%, with no material cost or capex shown in that breakdown. The statutory auditor (Gupta Rustagi & Co.) issued an unmodified opinion in both FY25 and FY26 but flagged unreconciled trade receivable balances and weaknesses in MSMED supplier identification. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Packaged foods. Micro-cap packaged foods company; recently shifted model from trading to manufacturing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 7 | 8 | 8 | 8 | 8 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 0.19 | 0.25 | 0.23 | 0.13 | 0.11 |
| ROE % · ROCE % | — · 4.9 | — · 5.7 | — · 2.8 | — · 2.4 | — · 2.4 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (1) | 0 | (5) | (3) | (0) |
| Capex | — | — | — | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 5 | 4 | 4 | 3 | 5 | 4 | 4 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | (0) |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.09 | 0.16 | 0.18 | 0.08 | 0.06 | 0.15 | 0.12 | 0.01 |
Exhibit 3: 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 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.6 | 29.5 | 21 of 38 | 46% |
| ROCE | 0.9 | 7.4 | 33 of 40 | 18% |
| Revenue growth | 2.6 | 14.1 | 24 of 36 | 34% |
| Market cap | 11 | 96 | 41 of 43 | 5% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · Chothani Foods 13th AGM: All 5 resolutions passed with 100% approval | board shareholder meetings | medium | — | — |
| 30 Sept 2026 · Chothani Foods 13th AGM held on Sept 30; 5 resolutions tabled | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Intimation of Closure of Trading Window pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015 | compliance | minimal | — | — |
| 7 Sept 2026 · 13th AGM on September 30, 2026; Annual Report FY25-26 | compliance | minimal | — | — |
| 7 Sept 2026 · FY2025-26 Annual Report and 13th AGM Notice | results | high | — | — |
| 3 Sept 2026 · 13th AGM set for Sep 30, 2026; auditor and director appointments approved | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Board appoints auditors, reappoints directors; AGM set for Sept 30, 2026 | management changes | medium | — | — |
| 3 Sept 2026 · Board appoints auditors, reappoints MD and Whole-Time Director for 5 years | management changes | low | — | — |
| 3 Sept 2026 · Board reappoints 3 directors, fixes AGM date, appoints auditors for FY27 | management changes | medium | — | — |
| 3 Sept 2026 · Board reappoints MD and WTD for 5 years, fixes AGM on Sept 30 | management changes | medium | — | — |
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.