BSE: 526899
HIMALAYA FOOD INTERNATIONAL LI
Manufactures and exports frozen food products, with Frozen French Toast Sticks cited as a flagship item shipped to customers in the United States, Australia, the United Kingdom and Japan. On 8 May 2026 the company dispatched its first consignment of three containers of Frozen French Toast Sticks to the UK, marking entry into European markets. FY26 revenue stood at Rs 39.54 crore with a profit after tax of Rs 3.71 crore and an EBITDA margin of 23.6%. The operation is asset-heavy — depreciation absorbs 15.9% of revenue and total assets of Rs 206.79 crore sit against annual revenue of Rs 39.54 crore. Raw materials are the largest cost line at 41.9% of revenue, followed by other operating expenses at 29.0% and employee costs at 6.8%. The company raised Rs 37.15 crore via a rights issue in FY26 and has settled most of its bank dues, leaving borrowings at Rs 46 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Frozen food exports. Asset-heavy frozen food manufacturer with an export focus.
Exhibit 1: Financial summary, FY23–FY24 (all audited; no estimate years)
| ₹ crore · consolidated | FY23 | FY24 |
|---|---|---|
| Revenue | 68 | 45 |
| EBITDA (ex other income) | (47) | 9 |
| margin % | (69.7) | 19.6 |
| Owners' profit | (24) | 5 |
| EPS, as reported (₹) | (4.18) | 0.85 |
| ROE % · ROCE % | (18.2) · (17.1) | 3.6 · 3.2 |
| Debt / equity (x) | 0.00 | 0.00 |
| Cash from operations | 7 | (3) |
| Capex | 0 | 0 |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY23 | Q1 FY24 | Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 |
|---|---|---|---|---|---|---|
| Revenue | 13 | 8 | 11 | 13 | 12 | 11 |
| Profit before tax | (32) | 1 | 1 | 1 | 1 | 1 |
| Net profit | (31) | 1 | 1 | 1 | 2 | 1 |
| EPS (₹) | (5.40) | 0.10 | 0.18 | 0.25 | 0.33 | 0.15 |
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. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 14,064 | 22.0 | 3.11 | 12.0 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,814 | 11.6 | 1.52 | 9.1 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 7,226 | 17.4 | 2.19 | 13.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| TRUALT BIOENERGY LIMITED | 3,643 | 26.0 | 2.31 | 13.8 | 6.1 | 4.8 | — | 23.5 |
| KAVERI SEED CO. LTD. | 3,485 | 14.1 | 1.99 | 9.4 | 16.9 | 17.0 | 6.1 | 40.1 |
| INDRAYANI BIOTECH LTD. | 3,444 | 25.9 | 33.73 | 251.2 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,206 | 21.1 | 2.39 | 12.9 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,948 | 57.9 | — | — | — | — | — | 8.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.9 | 12.6 | 15 of 53 | 73% |
| P/B | 0.5 | 1.6 | 9 of 51 | 84% |
| ROCE | 2.8 | 4.1 | 39 of 67 | 42% |
| ROE | 3.5 | 3.5 | 26 of 51 | 50% |
| Debt / Equity | 0.0 | 0.4 | 1 of 51 | 88% |
| EBITDA margin | 21.7 | 9.7 | 9 of 45 | 82% |
| Revenue growth | 28.2 | 10.3 | 12 of 51 | 78% |
| Profit growth | 60.2 | 16.6 | 19 of 51 | 64% |
| Market cap | 68 | 68 | 35 of 69 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Quarterly compliance certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · 35th AGM: All 4 resolutions passed, equity issuance approved | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Chairman outlines debt elimination and 3-year revival plan | investor communications | low | — | — |
| 30 Sept 2026 · 35th AGM held; 5 resolutions including equity issuance and asset purchase | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading window closed pending Q2 FY26 results announcement | compliance | minimal | — | — |
| 7 Sept 2026 · 35th AGM on Sept 30, 2026; e-voting Sept 27 to 29; KYC update required | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Newspaper ad for 35th AGM on September 30, 2026 via video conferencing | compliance | minimal | — | — |
| 5 Sept 2026 · Book Closure for 35th AGM from 24 to 30 September 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 35th AGM notice and Annual Report for FY 2025-26 with share issuance proposal | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 35th AGM on Sept 30; equity issuance and Doon Valley asset purchase on agenda | 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.