As of 6 Nov 2026, ADF Foods trades at 28.7× trailing earnings, above the industry P/E of 19.5×, and the shares are 31% below their 52-week high. It earns ROCE of 19% and ROE of 17%, and sales and net profit grew 13% and 17% a year over 3 years. It has almost no debt, and its dividend yield is 0.5%. It is a small-cap company with a market cap of ₹2,642 Cr, ranked 27th of 127 Packaged Foods companies by market cap; the shares rose 20% over the past year.
- ₹260.19
- ₹262.00
- ₹238.76
- ₹263.95
- 1.9 L
Health check
- ReturnsAhead
+19.8% over a year, better than 6 of 7 peers.
- Price tagPricier
P/E 28.7 vs industry 19.5.
- GrowthSteady
Sales +13.0%, profit +17.0% a year over 3 years.
- ProfitabilityAverage
ROCE 19.2% vs peer median 15.3%.
- Balance sheetSolid
Debt 0.10× equity, interest covered 45.5×, Piotroski 6 of 9.
- Red flags1 to check
31% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹2,642 Cr
- Small cap
- P/E
- 28.7
- Industry 19.5
- Price to book
- 4.62
- Peers 8.88
- Dividend yield
- 0.45%
- ROE
- 16.9%
- Peers 14.8%
- ROCE
- 19.2%
- Peers 15.3%
- Debt to equity
- 0.10
- Debt ₹55 Cr
- EPS (TTM)
- ₹8.37
- Face value ₹2
- OPM (TTM)
- 19.1%
- Net margin 12.8%
- Sales growth
- +25.9%
- Latest quarter vs a year ago
- Profit growth
- +13.4%
- Latest quarter vs a year ago
- Price to sales
- 3.68
- EV/EBITDA 20.5
Strengths and risks
Strengths
- Practically debt-free.
- Quarterly sales up 25.9% on a year ago.
- Positive operating cash flow in each of the last 4 years.
Risks to check
- 31% below its 52-week high.
About ADF Foods
ADF Foods Limited produces and exports ethnic and convenience food products in India and internationally. It operates through Process and Preserved Food; and Distribution Business segments. The company offers ready-to-eat meals; food accompaniments, such as pickles, chutneys, dips, cooking and condiment pastes, dipping and cooking sauces, spices, and other processed food products; frozen food, including snacks, parathas, samosas, Indian breads, Kathi…
- Headquarters
- Mumbai
- Employees
- 394
- Sector
- Consumer Defensive
- ISIN
- INE982B01027
- Website
- adf-foods.com
Price range
- Avg volume (3M)
- 1.1 L
- 1-year return
- plus 19.8%
- From 52-week high
- minus 30.7%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| ADFFOODSADF Foods | 240.49 | minus 8.89% | 2,642 | 28.7 | 4.62 | 19.2% | 16.9% | 19.1% | 13.0% | 17.0% | 0.45% | plus 19.8% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 133 | 163 | 191 | 197 | 167 | |
| 109 | 127 | 154 | 162 | 138 | |
| 23.5 | 35.8 | 37.1 | 34.3 | 29.7 | |
| 17.7% | 22.0% | 19.4% | 17.4% | 17.7% | |
| 3 | 5.8 | 2.5 | 8.7 | 1.1 | |
| 0.6 | 0.8 | 0.6 | 0.8 | 0.7 | |
| 4.9 | 5.2 | 5.3 | 5.7 | 6.6 | |
| – | – | −6.8 | – | – | |
| 21.1 | 35.6 | 26.9 | 36.5 | 23.5 | |
| 27.8% | 25.9% | 16.7% | 29.0% | 26.4% | |
| 15.2 | 26.4 | 22.4 | 25.9 | 17.3 | |
| 1.39 | 2.40 | 2.04 | 2.36 | 1.57 |
Profit & loss
- Sales CAGR 3Y
- +13.0%
- Profit CAGR 3Y
- +17.0%
- EPS CAGR 3Y
- +16.9%
- ROE
- 16.9%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 444 | 501 | 558 | 641 | |
| – | +12.7% | +11.5% | +15.0% | |
| 363 | 396 | 456 | 511 | |
| 81 | 105 | 102 | 131 | |
| 18.2% | 21.0% | 18.3% | 20.4% | |
| 7.1 | 5.8 | 8.7 | 19 | |
| 2.1 | 2.3 | 2.6 | 2.7 | |
| 13.7 | 15.6 | 18.2 | 21.1 | |
| 3.2 | 5.2 | 1.4 | −5.8 | |
| 75.5 | 98.1 | 91.6 | 120 | |
| 26.0% | 24.8% | 24.4% | 25.1% | |
| 56.1 | 75.3 | 69.3 | 89.9 | |
| – | +34.2% | minus 8.0% | +29.8% | |
| 5.12 | 6.85 | 6.30 | 8.19 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 22.4 | 22.4 | 22.4 | 22.4 | |
| 397 | 419 | 470 | 550 | |
| 55.2 | 55.9 | 59.2 | 55.1 | |
| 50.4 | 59 | 76.3 | 128 | |
| 525 | 556 | 628 | 755 | |
| 136 | 145 | 171 | 248 | |
| 6.8 | 6.2 | 26.3 | 29.6 | |
| 2.3 | 3.5 | 3.7 | 4.2 | |
| 142 | 143 | 126 | 85.7 | |
| 238 | 258 | 302 | 387 | |
| 525 | 556 | 628 | 755 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 50.5 | 69.8 | 37.4 | 57.6 | |
| −62.9 | 16.4 | −39.6 | −10.9 | |
| −4.8 | −63.4 | −21.1 | −24.3 | |
| −17.2 | 22.8 | −23.3 | 22.4 | |
| −26.7 | −15.5 | −41.2 | −82.8 | |
| 23.8 | 54.4 | −3.8 | −25.2 | |
| −8.8 | −54.9 | −19.8 | −13.2 |
Shareholding pattern
- Promoters36.13%
- Public63.87%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 36.13% | 63.87% | 0.00 | |
| 30 Jun 2026 | 36.13% | 63.87% | 0.00 | |
| 31 Mar 2026 | 36.13% | 63.87% | 0.00 | |
| 31 Dec 2025 | 36.13% | 63.87% | 0.00 | |
| 30 Sep 2025 | 36.13% | 63.87% | – |
Major shareholders
Filings & events
News
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