BSE: 538565
Vistar Amar Limited
Processes fish and seafood in Gujarat for sale, generating ₹158.47 crore of revenue in FY26 and a net profit of ₹9.35 crore, swinging from a loss the prior year on the back of a near six-fold jump in sales. Raw fish and seafood materials — the dominant input — make up the bulk of operating costs, while employee cost is low at 3.8% and other operating expenses sit at 12.3%. Working capital expanded sharply during the year, with operating cash flow still managing to turn positive at ₹319.80 lakhs against an outflow the previous year. The BSE-listed entity, which held its 41st AGM in September 2025, is materials-heavy in its cost structure, with depreciation at 2.3% of revenue and capex running at 3.5%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fish and seafood processing. Materials-heavy, Gujarat-based fish processing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 56 | 64 | 74 | 27 | 158 |
| EBITDA (ex other income) | 5 | 5 | 5 | (1) | 16 |
| margin % | 8.7 | 7.3 | 7.3 | (3.2) | 10.2 |
| Owners' profit | 3 | 3 | 4 | (1) | 9 |
| EPS, as reported (₹) | 10.41 | 9.89 | 11.59 | (3.81) | 16.23 |
| ROE % · ROCE % | 33.7 · 44.9 | 24.2 · 32.7 | 22.1 · 29.9 | (3.3) · (3.0) | 17.2 · 23.2 |
| Debt / equity (x) | 0.00 | 0.03 | 0.00 | 0.00 | 0.01 |
| Cash from operations | 4 | (0) | 4 | (10) | 3 |
| Capex | — | (0) | (0) | (15) | (6) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 11 | 3 | 9 | 3 | 27 | 11 | 66 | 54 |
| Profit before tax | (0) | 0 | (0) | (1) | 2 | (0) | 8 | 3 |
| Net profit | (0) | 0 | (0) | (1) | 1 | (0) | 6 | 2 |
| EPS (₹) | (0.01) | 0.35 | (1.33) | (2.99) | 1.79 | (0.69) | 11.23 | 3.90 |
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 |
|---|---|---|---|---|
| P/E (TTM) | 11.1 | 23.8 | 9 of 26 | 68% |
| P/B | 1.9 | 1.6 | 12 of 19 | 39% |
| ROCE | 23.0 | 12.6 | 4 of 30 | 90% |
| ROE | 17.2 | 6.8 | 2 of 21 | 95% |
| Debt / Equity | 0.0 | 0.4 | 4 of 21 | 85% |
| EBITDA margin | 8.3 | 8.7 | 12 of 21 | 45% |
| Revenue growth | 1487.8 | 8.6 | 1 of 17 | 100% |
| Profit growth | 294.4 | 32.7 | 3 of 20 | 90% |
| Market cap | 104 | 104 | 15 of 29 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve second-quarter and half-year results on 3 November 2026 | results | low | — | — |
| 7 Oct 2026 · Confirmation Certificate under Reg 74(5) for Sep 2026 quarter | compliance | minimal | — | — |
| 23 Sept 2026 · Trading Window Closed for Insiders Ahead of Q2 FY27 Results | compliance | minimal | — | — |
| 23 Sept 2026 · Vistar Amar AGM approves director re-appointments and new independent director | management changes | medium | — | — |
| 23 Sept 2026 · Vistar Amar 42nd AGM: All 9 Resolutions Passed | compliance | minimal | — | — |
| 23 Sept 2026 · 42nd AGM voting results: all 9 resolutions passed with near-unanimous majority | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Vistar Amar 42nd AGM concludes; 9 resolutions go to e-voting, results awaited | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Independent Director Varsha Sanghai ceases after completing two terms | management changes | medium | — | — |
| 31 Aug 2026 · Vistar Amar files 42nd AGM newspaper notice with BSE | compliance | minimal | — | — |
| 29 Aug 2026 · 42nd AGM notice and Annual Report 2025-26 link shared with shareholders | 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.