ADF Foods Limited
NSE: ADFFOODS · Packaged Foods · sector
₹239.45NSE close 2026-10-26
Key numbers
Market cap₹2,631 cr
Price₹239.45
52w high / low₹347 / ₹153
P/E28.6xSector median 33.2x
P/B4.6xSector median 2.2x
Book value₹52.1
Dividend yield0.50%Sector median 0.65%
ROE17.3%Sector median 8.8%
ROCE21.6%Sector median 9.6%
OPM18.1%Sector median 9.2%
Debt / equity0.02xSector median 0.16x
EV/EBITDA19.6xSector median 18.4x
Interest cover44.5x
Current ratio3.84x
Sales growth 3y+14.9%Sector median +14.9%
Profit growth 3y+17.0%Sector median +19.1%
PEG–
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 45 companies in Packaged Foods (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹87 cr vs borrowings ₹9 cr (FY26): cash is higher (net cash).
- Operating profit covered interest 44.5x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 5 of the last 5 years (FY26, FY25, FY24, FY23, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 20% of net profit in the last 12 months.
- Dividend paid in 5 of the last 5 financial years.
- Price ₹239.45 on 2026-10-26: -31.0% from the 52-week high, +56.4% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹340.00 · low ₹162.15
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 161 | 147 | 159 | 133 | 163 | 191 | 197 | 167 |
| EBITDA | 28 | 26 | 25 | 24 | 36 | 30 | 34 | 30 |
| OPM % | 17.2% | 17.9% | 15.5% | 17.7% | 22.0% | 15.8% | 17.4% | 17.7% |
| Other income | 4 | 4 | 2 | 3 | 6 | 3 | 9 | 1 |
| Net profit | 20 | 19 | 16 | 15 | 26 | 22 | 26 | 17 |
| EPS (₹) | 1.79 | 1.71 | 1.50 | 1.39 | 2.40 | 2.04 | 2.36 | 1.57 |
| Revenue YoY | +0.8% | +29.5% | +23.7% | +25.9% | ||||
| Profit YoY | +34.2% | +19.3% | +57.6% | +13.5% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 421 | 450 | 520 | 590 | 683 | 718 |
| EBITDA | 67 | 81 | 105 | 98 | 124 | 130 |
| Net profit | 48 | 56 | 75 | 69 | 90 | 92 |
| EPS (₹) | 23.97 | 25.62 | 6.85 | 6.30 | 8.19 | 8.37 |
| Revenue growth | +6.9% | +15.6% | +13.3% | +15.9% | +19.4% | |
| Profit growth | +16.6% | +34.2% | -8.0% | +29.8% | +31.2% | |
| Dividend / share (₹) | 3.00 | 4.00 | 9.00 | 1.80 | 1.20 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +14.9% | +13.1% | +19.4% |
| Net profit | +17.0% | +12.4% | +31.2% |
| EPS | -31.6% | -20.0% | – |
| Share price | – | -7.9% (2y) | +20.7% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 419 | 441 | 493 | 572 |
| Borrowings | – | 0 | 0 | 9 | 9 |
| Cash & equivalents | – | 143 | 144 | 127 | 87 |
| Total assets | – | 525 | 556 | 628 | 755 |
| Fixed assets | – | 129 | 139 | 145 | 218 |
| Capital work in progress | – | 7 | 5 | 19 | 27 |
| Investments | – | 0 | 0 | 0 | 0 |
| Receivables | – | 94 | 108 | 117 | 144 |
| Inventory | – | 63 | 53 | 90 | 120 |
| Payables | – | 23 | 24 | 45 | 70 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 34 | 51 | 70 | 37 | 58 |
| Cash from investing | -54 | -63 | 16 | -40 | -11 |
| Cash from financing | 33 | -5 | -63 | -21 | -24 |
| Capex | 12 | 25 | 15 | 41 | 83 |
| Free cash flow | 22 | 26 | 54 | -4 | -25 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 13.4% | 17.1% | 14.1% | 15.7% |
| ROCE % | – | 18.6% | 22.8% | 18.8% | 21.1% |
| Debtor days | – | 76 | 76 | 73 | 77 |
| Inventory days | – | 107 | 79 | 132 | 160 |
| Payable days | – | 38 | 36 | 66 | 93 |
| Cash conversion cycle (days) | – | 145 | 119 | 139 | 144 |
| Working capital days | – | 238 | 214 | 206 | 174 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 36.13% |
| FIIs | 11.38% |
| DIIs | 20.98% |
| of which Mutual funds | 0.00% |
| Public (non-institutions) | 31.50% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 36.13% | 36.13% | 36.13% | 36.13% | 36.13% | 36.13% | 36.13% | 36.13% |
| Promoter group | % |
|---|---|
| Bimal Ramesh Thakkar | 13.08% |
| Mahalaxmi Ramesh Thakkar | 8.80% |
| Parul Bimal Thakkar | 4.94% |
| H J Thakkar Property Investment LLP | 2.99% |
| Shivaan Bimal Thakkar | 2.63% |
| Sumer Bimal Thakkar | 2.63% |
| Prisha Bhavesh Thakkar | 0.91% |
| Krish Bhavesh Thakkar | 0.15% |
| Bhavesh Ramesh Thakkar | 0.00% |
| Bhavesh Ramesh Thakkar HUF (Bhavesh R. Thakkar, Karta) | 0.00% |
| Priyanka Bhavesh Thakkar | 0.00% |
| Public holders above 1% | % |
|---|---|
| Authum Investment And Infrastructure Limited | 14.09% |
| Sixth Sense India Opportunities III | 6.15% |
| Infinity Portfolio Holdings | 5.76% |
| Infinity Direct Holdings | 4.55% |
| Dovetail India Fund Class 5 Shares | 3.50% |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 2.42% |
| Infinity Capital | 1.55% |
| Ashwin Kedia | 1.14% |
39,666 shareholders. Pledged: 0.00% of promoter shares.
Peers in Packaged Foods
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| NESTLEIND | ₹2,26,287 cr | 55.5x | 39.2x | 79.9% | 95.7% | 24.4% | – | 1.02% |
| BRITANNIA | ₹1,10,332 cr | 42.4x | 21.6x | 55.0% | 54.5% | 18.6% | +5.5% | 1.64% |
| ZYDUSWELL | ₹15,076 cr | 80.1x | 2.6x | 3.3% | 4.1% | 12.2% | +20.7% | 0.25% |
| BIKAJI | ₹11,645 cr | 45.0x | 7.2x | 17.3% | 20.1% | 13.3% | +15.1% | 0.21% |
| BBTC | ₹8,069 cr | 6.3x | 1.1x | 20.4% | 42.0% | 18.3% | +5.5% | 12.53% |
| BECTORFOOD | ₹5,687 cr | 38.3x | 4.5x | 12.2% | 14.9% | 12.8% | +14.5% | 0.65% |
| GOPAL | ₹2,996 cr | 35.7x | 6.3x | 19.0% | 19.0% | 9.7% | – | 0.05% |
| ADFFOODS | ₹2,631 cr | 28.6x | 4.6x | 17.3% | 21.6% | 18.1% | +14.9% | 0.50% |
| DIAMONDYD | ₹2,451 cr | 213.1x | 3.5x | 1.6% | 3.2% | 4.5% | +1.4% | 0.05% |
| SUNDROP | ₹2,391 cr | 85.7x | 1.6x | 2.0% | 2.8% | 4.4% | +22.2% | – |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Processed and preserved foods | ₹581 cr | 85.0% | ₹143 cr | 24.6% |
| Distribution Business | ₹102 cr | 15.0% | ₹15 cr | 14.7% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-05 | Dividend | Dividend - Re 0.60 Per Share |
| 2025-11-13 | Dividend | Interim Dividend - Re 0.60 Per Share |
| 2025-08-06 | Dividend | Dividend - Re 0.60 Per Share |
| 2024-11-06 | Dividend | Interim Dividend - Rs 0.60 Per Share |
| 2024-07-26 | Dividend | Dividend - Rs 1.20 Per Share |
| 2024-07-26 | Other | Annual General Meeting |
| 2023-11-10 | Dividend | Special Dividend - Rs 4 Per Share |
| 2023-09-11 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share |
| 2023-08-03 | Dividend | Dividend - Rs 5 Per Share |
| 2023-08-03 | Other | Annual General Meeting |
| 2022-08-04 | Dividend | Annual General Meeting/Dividend - Rs 4 Per Share |
| 2021-09-16 | Dividend | Dividend - Rs 3 Per Share |
| 2021-09-16 | Other | Annual General Meeting |
| 2020-07-28 | Other | Annual General Meeting |
| 2020-02-17 | Dividend | Interim Dividend - Rs 1.5 Per Share |
| 2019-11-20 | Dividend | Interim Dividend - Rs 1.5 Per Share |
| 2019-09-17 | Other | Annual General Meeting |
| 2018-09-05 | Other | Annual General Meeting |
| 2017-08-14 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2016-09-20 | Other | Annual General Meeting |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing and Distribution of Processed Foods: ADF Foods is a leading global food manufacturing company and distributor offering products such as sauces, pickles, chutneys, pastes, ready-to-cook, ready-to-eat products and frozen foods.
| Sector | Fast Moving Consumer Goods |
| Industry | Packaged Foods |
| Sub-industry | Packaged Foods |
| Symbol | ADFFOODS |
| BSE code | 519183 |
| ISIN | INE982B01027 |
| Face value | ₹2.0 |
| Incorporated | 1990-08-27 |
| Website | www.adf-foods.com |
| Plants (India / abroad) | 3 / 0 |
From the company's filings (BRSR FY26).
Data built 2026-10-23 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.