Financial Performance - Q4 FY26 (Consolidated)

  • Total Income: ₹294 crore (down 26% YoY from ₹400 crore in Q4 FY25)
  • Raw Material Costs: ₹194 crore
  • Gross Profit: ₹95 crore (Gross Margin: 32.9%)
  • EBITDA: ₹45 crore (down 11% YoY from ₹51 crore in Q4 FY25)
  • EBITDA Margin: 15.4%
  • Profit Before Tax: ₹28 crore
  • Profit After Tax: ₹19 crore (down 16% YoY from ₹23 crore in Q4 FY25)
  • PAT Margin: 6.6%

Financial Performance - FY26 (Consolidated)

  • Revenue from Operations: ₹868 crore (5-year CAGR: 19%)
  • Total Income: ₹880 crore
  • EBITDA: ₹112 crore (EBITDA Margin: 12.7%)
  • Profit After Tax: ₹28 crore (PAT Margin: 3.1%)

Operational Highlights by Business Segment

Fruit & Vegetable Pulps:

  • Mango: West Asia conflict diverted quality mangoes to processing industry at favorable prices, strengthening competitive position in export markets. Mango pulp business has ~USD 2 million exposure to Middle Eastern markets. Expect pent-up demand as market conditions stabilize.
  • Tomato: Paste production lower due to constrained availability of quality tomatoes.

Spray Dried Powders:

  • Progressing with capacity expansion of 120 MTPA to cater to growing demand.
  • Estimated investment: ₹2.5 crores.
  • Operations temporarily impacted during March and April 2026 due to unavailability of gas supply.

Frozen Food:

  • Volumes up ~28% YoY in FY26.
  • Improved realizations reflect higher contribution from value-added products.
  • Growing demand from US market.

Kusum Spices:

  • Export to Middle Eastern markets affected in March, impacting quarterly sales.

Tetra Recart:

  • Continuing to expand international presence.
  • Confirmed orders: approximately 400 MT valued at ~₹8 crores.
  • Additional orders under discussion to strengthen pipeline.

Strategic Initiatives

  • Smart Automation: Invested in advanced AI technologies to enhance production efficiencies and automate back-office processes. Operational savings expected to accrue progressively.
  • PLI Incentive: FY25 incentive claim of ₹33.86 crores received and booked in Q4 FY26.
  • Energy Efficiency: Added solar capacity - Vankal: 1263 kWp, Gonde: 1350 kWp (total 1850 kWp).
  • Pectin Project: Set up JV in Chittoor, Andhra Pradesh to convert fruit waste into pectin, oils and butter. Lab test results approved by some large MNCs and Indian companies.

Sales Performance Context

Q4 sales volumes declined due to war situation in March. Average realizations declined by ~25.3% YoY, reflecting sales of inventory manufactured during 2025 crop season at substantially lower raw material costs. Pricing remains pure passthrough of raw material movements.

Management and Governance

Key Management Personnel:

  • Mr. Bhupendra Dalal - Chairman & Non-Executive, Non-Independent Director
  • Mr. Milan Dalal - Promoter and Managing Director
  • Mr. Moloy Saha - Chief Executive Officer
  • Mr. Anand Krishnan - Chief Financial Officer
  • Mr. Ameya T. Masurkar - Company Secretary and Compliance Officer

Board of Directors:

  • Mr. Raymond Simkins - Non-Executive Director, Non-Independent
  • Mr. Hormazdiyaar Vakil - Non-Executive, Independent Director
  • Ms. Karishma Bhalla - Non-Executive, Independent Director
  • Mr. A. V. Seshadrinathan - Non-Executive, Independent Director
  • Mr. Sanjay Naik - Non-Executive, Independent Director
  • Mr. Maneck Davar - Non-Executive, Independent Director

Operational Capacity

7 self-owned processing facilities across Maharashtra, Gujarat, and Andhra Pradesh with:

  • Aseptic processing: 13-18 MT/Hr capacity
  • Spray drying: 0.25 MT/Hr capacity
  • Various frozen food, spice processing, and packaging capabilities

Sustainable Agricultural Initiatives

  • Partnered with IDH (Sustainable Trade Initiative) of Netherlands for sustainable mango farming
  • Certified 167 mango farmers, 45 guava farmers in Western India, and 1,289 mango farmers in Southern India under SAI and Rainforest Alliance platforms
  • Certified 213 tomato farmers under Unilever Sustainable Agriculture Code 2017
  • Committed USD 450,000 to promote sustainable farming
  • Partnered with Biospheres (French company) for soil rejuvenation and biodiversity
  • Partnered with AXA Climate to study climate change impacts on agriculture
  • Target: Cover and certify 1500+ additional farmers over 2000+ hectares in next 5 years

Balance Sheet Highlights (March 2026)

  • Total Equity: ₹566 crore
  • Share Capital: ₹7 crore
  • Total Borrowings: ₹421 crore (Non-current: ₹53 crore, Current: ₹368 crore)
  • Total Liabilities: ₹1,301 crore
  • Total Assets: ₹1,301 crore
  • Inventories: ₹640 crore

Market Information

  • Market Cap: ₹419 crore
  • Shares Outstanding: 7,34,14,624
  • Face Value: ₹1.00
  • Public Holding: 73%

Investor Contact

  • Mr. Anand Krishnan, CFO: +91 22 22613102, anand@foodsandinns.com
  • Stellar IR Advisors: Suyash Samant/Sharu Garg, +91 22 62398024