BSE: 531610
UFM INDUSTRIES LTD.
A small flour miller based in Silchar, Assam, that processes wheat into flour and earns essentially all of its revenue from that single product. The business generated ₹130.33 crore of revenue in FY26, and in FY25 it sold 47,041.52 MT of flour (up from 34,792.63 MT in FY24) when revenue grew roughly 51% year-on-year to ₹14,443.46 lakhs. The cost stack is dominated by materials, which made up 90.8% of FY26 revenue, consistent with wheat being the principal input, while employee and depreciation costs are small. This leaves a thin EBITDA margin of 2.6% in FY26. FY26 revenue declined to ₹13,135.26 lakhs from the FY25 level, but net profit after tax inched up to ₹123.24 lakhs from ₹120.43 lakhs. The company is listed on BSE (scrip code 531610) and the Calcutta Stock Exchange, with paid-up equity of 59.33 lakh shares of ₹10 each. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Flour milling. Small, single-product, asset-light food processor with very thin margins
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 87 | 126 | 96 | 144 | 130 |
| EBITDA (ex other income) | 1 | 2 | 2 | 3 | 2 |
| margin % | 1.7 | 1.4 | 2.0 | 1.9 | 1.8 |
| Owners' profit | 1 | 1 | 1 | 1 | 1 |
| EPS, as reported (₹) | 1.88 | 2.31 | 1.77 | 2.03 | 2.15 |
| ROE % · ROCE % | 5.7 · 8.9 | 6.6 · 8.4 | 4.8 · 9.1 | 5.2 · 11.3 | 5.1 · 10.1 |
| Debt / equity (x) | 0.34 | 0.54 | 0.46 | 0.53 | 0.41 |
| Cash from operations | 1 | 2 | 3 | 2 | 5 |
| Capex | (0) | (0) | (3) | (0) | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 35 | 44 | 32 | 32 | 36 | 36 | 27 | 25 |
| Profit before tax | 0 | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| Net profit | (0) | 0 | 1 | 0 | 1 | 0 | 0 | 0 |
| EPS (₹) | (0.04) | 0.29 | 1.14 | 0.47 | 1.12 | 0.03 | 0.26 | 0.28 |
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. % |
|---|---|---|---|---|---|---|---|---|
| EID PARRY INDIA LTD | 11,113 | 23.9 | 0.74 | 3.8 | 9.3 | 13.1 | 15.7 | 8.7 |
| MANORAMA INDUSTRIES LTD | 10,767 | 42.0 | 15.78 | 29.9 | 33.0 | 42.4 | — | 30.3 |
| ORKLA INDIA LIMITED | 6,958 | 23.6 | 2.53 | 15.6 | 10.4 | 13.1 | — | 19.9 |
| KRISHIVAL FOODS LIMITED | 823 | 34.7 | 4.11 | 21.3 | 11.1 | 13.1 | — | 13.0 |
| APIS INDIA LTD. | 727 | 2.9 | 3.66 | 18.9 | 12.7 | 15.5 | 7.4 | 11.9 |
| Pajson Agro India Limited | 686 | 52.6 | — | — | — | 24.0 | — | — |
| Chemkart India Limited | 315 | 15.0 | — | — | — | 20.7 | — | — |
| MEGASTAR FOODS LIMITED | 309 | 31.3 | 3.01 | 12.2 | 9.0 | 7.5 | 26.4 | 5.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| ROCE | 5.9 | 12.6 | 21 of 30 | 31% |
| ROE | 5.1 | 6.8 | 12 of 21 | 45% |
| Debt / Equity | 0.4 | 0.4 | 11 of 21 | 50% |
| EBITDA margin | 2.7 | 8.7 | 18 of 21 | 15% |
| Revenue growth | (20.7) | 8.6 | 16 of 17 | 6% |
| Profit growth | (39.9) | 32.7 | 18 of 20 | 11% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · RTA confirms no securities received for dematerialisation in Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · UFM Industries 40th AGM: All 3 resolutions passed with 100% approval | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · Trading window closed for Q2 FY27 results period | compliance | minimal | — | — |
| 28 Sept 2026 · 40th AGM of UFM Industries Ltd held on 28 Sept 2026 | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 40th AGM on 28 Sep 2026; FY26 results adoption, new Independent Director appointment | board shareholder meetings | low | — | — |
| 5 Sept 2026 · 40th AGM Notice with Annual Report for FY 2025-26 | board shareholder meetings | medium | — | — |
| 13 Aug 2026 · Board appoints new Independent Director, another resigns | management changes | medium | — | — |
| 13 Aug 2026 · UFM Industries Q1 FY27 revenue dips 21% YoY, PAT falls 40% | results | high | — | — |
| 5 Aug 2026 · Board meeting on 13 Aug to consider Q1 FY27 unaudited financial results | results | low | — | — |
| 5 Aug 2026 · UFM Industries appoints MAS Services as new Registrar and Share Transfer Agent | compliance | 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.