The disclosure contains provisional and unaudited operational data, specifically stating it should not be construed as financial results, financial guidance, or future performance projections.

Key Financial Metrics

  • Revenue from Operations: Approximately ₹74 crore for Q1 FY27
  • Year-on-Year Growth: 58% increase
  • Proforma Revenue Run-Rate: Approximately ₹85 crore quarterly (including Meevaa Foods)

Strategic Developments

Meevaa Foods Acquisition: Successfully completed in the first week of July 2026. The acquisition enhances the scale of the company's consumer business platform.

Retail Expansion: Expanded retail footprint to approximately 200 co-branded retail outlets, significantly surpassing the original FY27 target of 150 outlets. The company plans to further accelerate retail expansion during FY27 through an asset-light and scalable retail model.

Operational Highlights

Customer & Distribution:

  • Added over 70 new enterprise customers during the quarter
  • Expanded presence across Amazon, Blinkit, modern retail, and other omnichannel channels
  • Commenced Blinkit deliveries in Mumbai
  • Strengthened relationships across food service, HORECA, retail, and export customers

Aquaculture Ecosystem:

  • Strengthened integrated aquaculture through farmer onboarding and FPO partnerships
  • Onboarded 10 new sourcing partners
  • Initiated 270-acre land aggregation
  • Currently works with over 1,700 seafood farmers
  • Incorporated Varuna Aquatech Private Limited as a dedicated aquaculture platform
  • Participated in AquaEx to strengthen industry visibility

International Expansion:

  • Strengthened relationships in UK, Canada, and GCC markets
  • Onboarded a distribution partner in Dubai
  • Expanded export opportunities across institutional and branded businesses

Guidance

The company reiterated its long-term growth roadmap:

  • Target: ₹600 crore revenue by FY28
  • Target EBITDA Margin: 18-20%

Growth drivers include rapid expansion of branded consumer business, increasing contribution from value-added products, accelerated retail and omnichannel expansion, deeper backward integration, and operating leverage across the integrated farm-to-fork platform.

Management Commentary

Mr. Deepanshu Manchanda, Managing Director, commented on the strong business momentum in FY27, highlighting the resilience of the integrated business model and disciplined execution across the value chain. He noted strong traction for consumer brands, particularly Meevaa, in the value-added foods segment, and emphasized the company's focus on building a scalable, technology-enabled business.

Industry Outlook

The disclosure notes strong structural tailwinds for India's fresh protein industry, supported by rising urbanization, increasing disposable incomes, growing preference for hygienic and branded food products, and rapid expansion of quick commerce and organized food service channels.