BSE: 540332
Tanvi Foods (India) Limited
Manufactures and sells packaged frozen and ready-to-eat Indian food products such as frozen samosas, operating as a single segment from Hyderabad. A new state-of-the-art plant at Seetharampuram, Krishna District, Andhra Pradesh commenced commercial operations on April 4, 2024. The company sells under its own brand to major retail chains, supermarkets and restaurant groups in the United States through a 55%-owned subsidiary, Tanvi Foods USA Inc. It recently set up a 51%-owned UK subsidiary in Milton Keynes, Tanvi Foods UK Limited, to tap UK demand for frozen and ready-to-eat Indian food, with operations set to begin shortly. It also consolidates Polar Cube Cold Storage Solutions Pvt Ltd as a subsidiary. In FY26, consolidated total income rose to Rs. 10,609.54 lakhs (from Rs. 8,549.54 lakhs in FY25) and consolidated profit after tax jumped to Rs. 215.44 lakhs (from Rs. 36.12 lakhs). Raw materials are the dominant cost at 77.9% of revenue, with employee costs at 5.2% and other operating expenses at 10.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Packaged frozen and ready-to-eat Indian foods (single segment). Single-segment packaged frozen and ready-to-eat Indian foods; expanding internationally via owned subsidiaries
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 81 | 82 | 82 | 85 | 103 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 2.36 | 1.24 | 0.41 | 0.28 | 1.25 |
| ROE % · ROCE % | — · 10.6 | — · 7.9 | — · 4.0 | — · 3.1 | — · 6.3 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 2 | (1) | 3 | 3 | (2) |
| Capex | — | — | — | (13) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 41 | 40 | 43 | 44 | 41 | 48 | 54 |
| Profit before tax | 0 | 1 | 0 | 0 | 0 | 0 | 1 | 1 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.35 | 1.99 | 0.13 | 0.29 | 0.14 | 0.15 | 0.25 | 1.32 |
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. % |
|---|---|---|---|---|---|---|---|---|
| NESTLE INDIA LIMITED | 2,67,995 | 70.3 | 51.97 | 48.8 | 67.9 | 54.7 | — | 24.4 |
| BRITANNIA INDUSTRIES LTD | 1,20,956 | 46.4 | 23.55 | 32.4 | 49.4 | 59.8 | 7.8 | 18.0 |
| ZYDUS WELLNESS LIMITED | 16,916 | 89.9 | 2.90 | 42.1 | 3.4 | 2.4 | 16.2 | 17.1 |
| BIKAJI FOODS INTERN LTD | 14,002 | 54.2 | 8.20 | 31.0 | 14.9 | 18.3 | — | 15.3 |
| BOMBAY BURMAH TRADING COR | 10,322 | 8.0 | 1.08 | 2.9 | 26.0 | 33.5 | 7.8 | 17.7 |
| MRS BECTORS FOOD SPE LTD | 6,924 | 23.5 | 5.45 | 24.3 | 11.1 | 13.1 | 18.3 | 14.7 |
| GOPAL SNACKS LIMITED | 3,210 | 38.3 | 6.70 | — | 15.4 | 19.4 | — | 7.6 |
| ADF FOODS LIMITED | 2,941 | 32.0 | 5.14 | 20.0 | 15.7 | 18.8 | 13.1 | 18.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.5 | 30.8 | 14 of 40 | 67% |
| ROCE | 2.4 | 7.0 | 30 of 41 | 28% |
| Revenue growth | 27.6 | 14.1 | 13 of 36 | 66% |
| Market cap | 51 | 92 | 26 of 43 | 41% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 12 Sept 2026 · Tanvi Foods files FY26 Annual Report; AGM on Sept 30, 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Tanvi Foods approves FY2025-26 annual report; 19th AGM set for 30 September | board shareholder meetings | low | — | — |
| 30 Jun 2026 · Allotment of 34,000 shares on warrant conversion; 8.24 lakh warrants lapse | fund raising | medium | — | — |
| 9 Jun 2026 · Update on International Business Operations | strategic transactions | medium | — | — |
| 1 Jun 2026 · Financial results for the half year and year ended 31.03.2026 | results | high | — | — |
| 1 Jun 2026 · Approval of the Audited financial results (standalone and consolidation) of the Company for the half year and year ended 31.03.2026 | results | high | — | — |
| 25 May 2026 · Tanvi Foods (India) Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 30/05/2026 ,inter alia, to consider and approve the Audited Financial Results .... | results | low | — | — |
| 12 May 2026 · Outcome of Board Meeting - Allotment of equity shares upon conversion of warrants | fund raising | medium | — | — |
| 10 Apr 2026 · Certificate under Reg. 74(5) of SEBI (DP) Regulations 2018 | compliance | minimal | — | — |
| 24 Mar 2026 · Closure of Trading Window | 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.