BSE: 543538
Goel Food Products Limited
Operates banquet halls and provides catering services from Kolkata, running a single business segment called "Banquet Hire & Catering Services". Revenue is earned from hiring out banquet facilities and serving food at events such as weddings, receptions and corporate functions. The company is small, with FY26 revenue of Rs 21.909 crore and total assets of Rs 72.4417 crore, and trades on BSE's SME platform. The largest cost line is materials (food and catering supplies) at 38.4% of revenue, followed by other operating expenses at 25.5% and employee costs at 7.6%. In H1 FY26, revenue from operations was Rs 871.16 lakhs, up from Rs 801.22 lakhs in H1 FY25, while operating cash flow turned sharply negative at minus Rs 1,012.89 lakhs. Short-term borrowings jumped to Rs 922.99 lakhs as of September 2025 from Rs 283.78 lakhs earlier, and cash and bank balances fell to Rs 183.15 lakhs from Rs 374.58 lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Banquet Hire & Catering Services (100%). Small, single-segment, service-oriented banquet and catering operator.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 17 | 23 | 24 | 25 | 22 |
| EBITDA (ex other income) | 4 | 7 | 9 | 8 | 5 |
| margin % | 26.7 | 30.5 | 36.0 | 33.4 | 23.7 |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 21.83 | 11.03 | 13.27 | 2.68 | 0.00 |
| ROE % · ROCE % | — · 12.5 | — · 16.9 | — · 19.1 | — · 17.6 | — · 12.5 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (12) | (4) | 7 | 8 | (1) |
| Capex | — | — | — | (1) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY22 | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 17 | 8 | 14 | 10 | 14 | 17 | 9 | 13 |
| Profit before tax | 3 | 2 | 4 | 2 | 5 | 6 | 1 | 4 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 21.83 | 3.85 | 6.82 | 4.26 | 9.01 | 2.41 | 0.23 | 0.00 |
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. % |
|---|---|---|---|---|---|---|---|---|
| THE INDIAN HOTELS CO. LTD | 1,26,398 | 57.2 | 8.02 | 39.5 | 4.9 | 5.6 | 43.8 | 28.4 |
| ITC HOTELS LIMITED | 36,286 | 38.8 | 3.08 | 25.5 | 3.3 | 4.2 | — | 32.0 |
| LEELA PALACES HOTEL LTD | 22,983 | 37.0 | 3.48 | 32.9 | 2.2 | 2.3 | — | 45.6 |
| EIH LIMITED | 19,448 | 27.3 | 3.60 | 18.8 | 12.2 | 14.9 | 42.7 | 25.3 |
| CHALET HOTELS LIMITED | 17,914 | 30.4 | 4.50 | 16.9 | 7.6 | 4.0 | 56.6 | 43.3 |
| VENTIVE HOSPITALITY LTD | 12,638 | 28.1 | 1.82 | 13.2 | 2.3 | 1.4 | — | 38.2 |
| LEMON TREE HOTELS LTD | 9,241 | 35.9 | 4.15 | 16.2 | 6.2 | 4.9 | 41.8 | 44.2 |
| INDIA TOUR. DEV. CO. LTD. | 5,412 | 66.0 | 13.17 | 58.6 | 20.0 | 26.6 | 24.7 | 9.2 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 1.1 | 25.5 | 2 of 58 | 98% |
| ROCE | 8.3 | 2.2 | 12 of 63 | 82% |
| EBITDA margin | 30.7 | 22.8 | 18 of 63 | 73% |
| Revenue growth | 28.6 | 10.6 | 12 of 59 | 81% |
| Market cap | 24 | 242 | 53 of 66 | 20% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Nov 2026 · Board to review half-year results on 13 November 2026 | results | low | — | — |
| 27 Oct 2026 · Company attributes recent share price movement to market conditions | compliance | minimal | — | — |
| 19 Oct 2026 · BSE seeks clarification from Goel Food Products on price movement | regulatory legal | high | — | — |
| 14 Oct 2026 · Routine RTA compliance certificate submitted for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading Window Closed from Oct 1, 2026 for H1 FY26 Results | compliance | minimal | — | — |
| 14 Sept 2026 · Mrs. Rashmi Goyal reappointed as Director at 30th AGM | management changes | medium | — | — |
| 14 Sept 2026 · AGM voting results - all 6 resolutions approved | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Goel Food Products 30th AGM passes 6 resolutions including borrowing limit hikes | board shareholder meetings | low | — | — |
| 14 Aug 2026 · Newspaper publication for Adjourned 30th AGM notice | compliance | minimal | — | — |
| 13 Aug 2026 · Adjourned 30th AGM on Sept 11; company admits past borrowing non-compliance | board shareholder meetings | low | — | — |
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.