MEGASTAR FOODS LIMITED

Mills wheat into refined flour and related products at a single 710 MT/day processing plant in Rupnagar, Punjab, selling primarily to large packaged-food companies such as Nestle, ITC, Mrs. Bector and Jubilant. The business runs as a single wheat products segment, with maida (refined wheat flour) accounting for 74% of revenue and other wheat-derived products making up the remainder; Punjab is the largest contributing region at 31% of sales. For FY26, revenue was Rs 532.58 crore, up 47.5% year-on-year, with net profit of Rs 9.30 crore and an EBITDA margin of 6.72%. The cost structure is dominated by materials at 72.1% of revenue (principally wheat), followed by other operating expenses at 4.1%, employee costs at 2.2% and depreciation at 1.7%, with capex at 1.5% of revenue. The Punjab plant has been granted a 15-year, 100% electricity duty exemption by Punjab's Department of Industries & Commerce starting 18 November 2024, capped at Rs 88.68 crore or 100% of fixed capital investment, whichever is earlier. The company carries a CARE BBB- (Stable) long-term rating with outstanding borrowings of Rs 130.40 crore as of 31 March 2026, and has one subsidiary, Megapacific Ventures Pvt Ltd.