BSE: 539132
Wardwizard Foods and Beverages
Sells ready-to-eat foods, frozen foods, sauces and mayonnaise through a branded segment, trades food commodities in bulk, and earns revenue from a small services stream. Food commodities trading drives the bulk of FY26 revenue, lifting the total to ₹237.73 crore, up 156% year-on-year. The branded RTE, frozen, sauces and mayo segment is small and has reported losses in most quarters of FY26, while the services segment is small but generates high EBIT margins. Manufacturing is being scaled: the Por, Vadodara plant is being expanded 3x to 15 tonnes per day, a new 7,000 tonnes per annum sauces and condiments facility is being added at Bhor, Pune, and the company operates an 88,000 sq. ft. manufacturing facility in Pune. Exports currently span USA, Canada, Australia, UAE and Bahrain, with Europe, CIS and Africa identified as next frontiers. The company swung to a ₹1.31 crore profit in FY26 from a loss in FY25, though operating cash flow was deeply negative at ₹(1,373.63) lakhs. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Food Commodities, Sale of RTE, Frozen, Sauces & Mayo, Services. Small FMCG food company scaling up manufacturing capacity, with revenue dominated by trading-style food commodities
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 8 | 17 | 93 | 238 |
| EBITDA (ex other income) | (0) | (7) | (27) | (6) | 8 |
| margin % | — | (95.0) | (158.7) | (6.1) | 3.3 |
| Owners' profit | (0) | (9) | (33) | (14) | 1 |
| EPS, as reported (₹) | (0.02) | (0.67) | (1.28) | (0.53) | 0.05 |
| ROE % · ROCE % | (0.4) · (0.2) | (7.5) · (5.4) | (35.2) · (23.4) | (17.1) · (9.3) | 1.6 · 4.4 |
| Debt / equity (x) | 0.05 | 0.25 | 0.30 | 0.39 | 0.46 |
| Cash from operations | 0 | (50) | (10) | (2) | (11) |
| Capex | 0 | (5) | (24) | (1) | (0) |
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 | 1 | 4 | 49 | 39 | 13 | 67 | 117 | 40 |
| Profit before tax | (5) | (6) | (4) | 0 | (2) | 1 | (1) | 2 |
| Net profit | (5) | (6) | (4) | 1 | (2) | 1 | (1) | 3 |
| EPS (₹) | (0.18) | (0.24) | (0.14) | 0.03 | (0.07) | 0.02 | (0.02) | 0.12 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| (a) Segment - A- Sale of RTE,Frozen,Sauces & Mayo | 0 | 0.0 |
| (b) Segment - B- Food Commodities | 35 | 14.9 |
| (c) Segment - C Services | 5 | 2.1 |
| (a) Segment – A- Sale of RTE,Frozen,Sauces & Mayo | 11 | 4.7 |
| (b) Segment – B- Food Commodities | 181 | 76.0 |
| (c) Segment – C Services | 5 | 2.2 |
| Total, before eliminations | 238 | 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. % |
|---|---|---|---|---|---|---|---|---|
| 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 132.2 | 23.8 | 24 of 26 | 8% |
| P/B | 2.1 | 1.6 | 13 of 19 | 33% |
| ROCE | 0.6 | 12.6 | 24 of 30 | 21% |
| ROE | 1.6 | 6.8 | 14 of 21 | 35% |
| Debt / Equity | 0.5 | 0.4 | 13 of 21 | 40% |
| EBITDA margin | 13.2 | 8.7 | 5 of 21 | 80% |
| Revenue growth | 3.4 | 8.6 | 12 of 17 | 31% |
| Profit growth | 341.2 | 32.7 | 2 of 20 | 95% |
| Market cap | 170 | 104 | 10 of 29 | 68% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 30 Sept 2026 · Shareholders approve continuation of Non-Executive Director beyond age 75 | management changes | medium | — | — |
| 30 Sept 2026 · All 13 resolutions passed at 72nd AGM including RPT approvals | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 72nd AGM: All 13 resolutions passed including RPT approvals | board shareholder meetings | low | — | — |
| 28 Sept 2026 · 72nd AGM proceedings summary filed with BSE | board shareholder meetings | low | — | — |
| 9 Sept 2026 · AGM notice and annual report web-link sent to shareholders | compliance | minimal | — | — |
| 8 Sept 2026 · Independent Director Nihar Naik resigns from Wardwizard Foods and Beverages | management changes | medium | — | — |
| 7 Sept 2026 · Newspaper ads published for 72nd AGM on Sept 28, 2026 | compliance | minimal | — | — |
| 5 Sept 2026 · Independent Director Ms. Mansi Bhatt resigns effective Sept 4, 2026 | management changes | medium | — | — |
| 4 Sept 2026 · Wardwizard Foods sets 21 Sep 2026 as record date for 72nd 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.