BSE: 544269
NEOPOLITAN PIZZA AND FOODS LIM
Operates two streams: agricultural trading and a vegetarian quick-service restaurant (QSR) chain. Agricultural trading generated Rs. 2,798.22 lakhs in FY26, while the QSR segment generated Rs. 154.46 lakhs, against total revenue of Rs. 2,952.68 lakhs (down from Rs. 5,115.55 lakhs in FY25). The QSR business sells 100% vegetarian pizzas under the 'Neopolitan Pizza' brand and a newly launched health-focused wrap brand 'NEO FRANKIE' (launched 26 January 2026), targeting families, youth, students, and health-conscious consumers in Gujarat. Outlets run under company-operated (COCO), franchise, and FOCO (Franchise-Owned Company-Operated) models, with a master franchise agreement signed for Maharashtra in May 2026. As of May 2026, only 7 of the 16 QSR outlets promised at IPO were operational, with 4 under construction and 5 yet to open; 10 new COCO stores were scheduled for a grand opening on 25 December 2025. IPO proceeds of Rs. 1,170 lakhs were raised via 60 lakh shares at Rs. 20 each, though Rs. 408.50 lakhs earmarked for outlet expansion were reallocated to working capital. FY26 employee costs were 2.9% of revenue, other opex 4.5%, depreciation 0.9%, and EBITDA margin was 2.08%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agricultural Trading (100%), Quick Service Restaurant (QSR). Multi-brand vegetarian QSR with agricultural commodity trading; mix of company-operated, franchise, and FOCO outlets.
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY25 | FY26 |
|---|---|---|
| Revenue | 51 | 30 |
| EBITDA (ex other income) | — | 1 |
| margin % | — | 1.7 |
| Owners' profit | — | 0 |
| EPS, as reported (₹) | 0.29 | 0.12 |
| ROE % · ROCE % | — · 2.4 | 0.7 · 1.2 |
| Debt / equity (x) | — | 0.01 |
| Cash from operations | (6) | (2) |
| Capex | (3) | (0) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|
| Revenue | 17 | 34 | 13 | 16 |
| Profit before tax | 1 | (0) | 0 | 0 |
| Net profit | — | — | 0 | 0 |
| EPS (₹) | 0.75 | 0.25 | 0.03 | 0.09 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Quick Service Restaurant | 1 | 5.0 |
| Agricultural | 16 | 95.0 |
| Total, before eliminations | 16 | 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. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 13,579 | 21.2 | 3.00 | 11.6 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,108 | 10.7 | 1.40 | 8.4 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,628 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,503 | 14.2 | 2.00 | 9.4 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,301 | 23.5 | 2.09 | 12.9 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,984 | 22.4 | 29.23 | 218.8 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,249 | 21.5 | 2.43 | 13.1 | 11.2 | 14.8 | — | 9.5 |
| GRM OVERSEAS LIMITED | 1,823 | 13.9 | 3.01 | 17.1 | 12.3 | 16.5 | 17.2 | 8.4 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.6 | 12.3 | 6 of 53 | 90% |
| P/B | 0.4 | 1.6 | 6 of 51 | 88% |
| ROCE | 1.1 | 4.1 | 44 of 67 | 35% |
| ROE | 0.7 | 3.5 | 36 of 51 | 30% |
| Debt / Equity | 0.0 | 0.4 | 10 of 51 | 82% |
| EBITDA margin | 2.5 | 9.7 | 38 of 45 | 16% |
| Market cap | 11 | 66 | 60 of 69 | 12% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 10 Oct 2026 · RTA certificate under SEBI regulation 74(5) for quarter ending Sep 2026 | compliance | minimal | — | — |
| 7 Oct 2026 · Neopolitan Pizza opens Atlanta outlet, plans two new Gujarat stores | compliance | low | — | — |
| 1 Oct 2026 · 15th AGM voting results: Both resolutions passed with 100 percent approval | compliance | minimal | — | — |
| 30 Sept 2026 · 15th AGM held on Sep 30, 2026; financials adopted, director re-appointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading Window Closed from Oct 1 for Q2 FY26 Results | compliance | minimal | — | — |
| 8 Sept 2026 · 15th AGM on 30 September 2026 includes director reappointment | board shareholder meetings | low | — | — |
| 8 Sept 2026 · Annual Report FY26: Revenue down 42 percent, net profit Rs 20.39 lakh | general | medium | — | — |
| 5 Sept 2026 · Board fixes 30 Sep AGM, appoints Secretarial Auditor for FY27 | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Promoter Mukund Purohit buys 5,600 shares via open market | ownership changes | low | — | — |
| 2 Sept 2026 · Neopolitan Pizza board meeting on Sep 5 to consider name change, AGM | 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.