BSE: 540404
PRIME FRESH LIMITED
Distributes fresh fruits and vegetables across India, handling outward volumes of 65,132 metric tonnes in FY26, up 97% from the prior year. The core line is fresh produce (F&V), and the company is building an agro park on 6 acres of land acquired in Nashik. In FY26 a non-F&V services line covering logistics/3PL work grew 32%. It has also begun moving into branded frozen food through a 51% group-level stake in Poonaagrocart LLP (Prime Fresh holds 36% for Rs 36 lakh), which makes ready-to-eat and ready-to-heat frozen snacks and reported FY25 turnover of about Rs 2.87 crore. Consolidated FY26 revenue was Rs 273.98 crore with net profit of Rs 13.97 crore. The largest disclosed operating cost line is employee cost at 8.1% of revenue, followed by other operating expenses at 6.6%. Subsidiaries include Florens Farming, Prime Fresh Retail and Prime Fresh CDP. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fresh fruits and vegetables (F&V), Service / 3PL business, Frozen ready-to-eat and ready-to-heat snacks. Fresh-produce distribution business with growing logistics/3PL services and a new frozen-snacks entry
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 77 | 99 | 149 | 207 | 274 |
| EBITDA (ex other income) | — | — | — | — | 19 |
| margin % | — | — | — | — | 7.0 |
| Owners' profit | — | — | — | — | 13 |
| EPS, as reported (₹) | 2.80 | 4.05 | 5.11 | 6.69 | 9.68 |
| ROE % · ROCE % | — · 21.8 | — · 23.8 | — · 15.9 | — · 18.4 | 14.1 · 19.8 |
| Debt / equity (x) | — | — | — | — | 0.09 |
| Cash from operations | (1) | (1) | (11) | (11) | (12) |
| Capex | — | — | — | (0) | (2) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 84 | 98 | 109 | 53 | 66 | 74 | 80 | 62 |
| Profit before tax | 6 | 7 | 5 | 4 | 4 | 6 | 5 | 6 |
| Net profit | — | — | — | 3 | 3 | 5 | 3 | 4 |
| EPS (₹) | 2.98 | 4.03 | 2.66 | 2.07 | 2.33 | 3.46 | 1.82 | 3.01 |
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. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 14,937 | 23.3 | 3.30 | 12.7 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,952 | 11.8 | 1.54 | 9.3 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 7,376 | 17.7 | 2.24 | 13.7 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,653 | 14.8 | 2.08 | 9.9 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,553 | 25.3 | 2.25 | 13.6 | 6.1 | 4.8 | — | 23.5 |
| SANSTAR LIMITED | 2,256 | 67.0 | — | — | — | — | — | 8.8 |
| AMIR CHAND JAG KUM (E) L | 2,089 | 20.0 | 2.26 | 12.4 | 11.2 | 14.8 | — | 9.5 |
| GRM OVERSEAS LIMITED | 1,698 | 13.0 | 2.80 | 16.1 | 12.3 | 16.5 | 17.2 | 8.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.0 | 11.8 | 41 of 65 | 38% |
| P/B | 2.2 | 1.6 | 34 of 51 | 34% |
| ROCE | 19.0 | 4.4 | 10 of 68 | 87% |
| ROE | 14.1 | 3.3 | 11 of 54 | 81% |
| Debt / Equity | 0.1 | 0.2 | 20 of 54 | 64% |
| EBITDA margin | 9.8 | 9.7 | 22 of 45 | 52% |
| Revenue growth | 15.7 | 10.3 | 23 of 51 | 56% |
| Profit growth | 50.8 | 16.6 | 22 of 51 | 58% |
| Market cap | 221 | 69 | 23 of 69 | 68% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 13 Sept 2026 · NHB In-Principle Approval for Nashik Cluster Development Programme | business updates | medium | — | — |
| 9 Sept 2026 · Investor meet scheduled with Fident Asset Management on 15 Sep 2026 | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Prime Fresh acquires 15 lakh shares in associate Florens Fresh | strategic transactions | medium | — | — |
| 24 Aug 2026 · Q1 FY27 Earnings Call: Margin Reset, Nashik Project Update | investor communications | medium | — | — |
| 20 Aug 2026 · Prime Fresh 19th AGM: 11 resolutions passed including RPTs and higher borrowing | compliance | minimal | — | — |
| 19 Aug 2026 · Board approves new auditor and independent director at AGM | management changes | medium | — | — |
| 19 Aug 2026 · Prime Fresh 19th AGM proceedings: financials, RPTs and borrowing limit on agenda | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Prime Fresh submits Q1FY27 earnings call audio recording | investor communications | low | — | — |
| 17 Aug 2026 · Prime Fresh Q1FY27: Revenue up 16% YoY, EBITDA margin expands 230 bps | investor communications | medium | — | — |
| 14 Aug 2026 · Newspaper notice for special window to re-lodge physical share transfer requests | compliance | minimal | — | — |
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.