
About ADF Foods
ADF Foods is a publicly listed company based in Mumbai (India) founded in 1932. Ethnic Indian foods, pickles, and curries are produced globally. It operates on a Direct-to-Consumer (D2C) and Reseller / Distribution model. Its chief executive, as recorded, is Bimal Thakkar. Its website adf-foods.com draws about 14 thousand monthly visits. Its Indian entity Adf Foods Limited reported revenue of βΉ703 Cr. ADF Foods offers products and services including Ready-to-Eat Products, Frozen Foods, and Pickles and Chutneys. Its focus areas include Consumer Goods, Food and Beverage and Packaged Foods. Its competitors include Veeba, Cremica and Masterchow; 2 of its 3 listed competitors have raised funding.
Company details
ADF Foods is involved in the production and global distribution of ethnic Indian food products, including ready-to-eat meals, frozen foods, pickles, chutneys, and cooking pastes. The company operates in over 55 countries, serving major grocery chains and ethnic stores. Its offerings are focused on taste, ease, and quality, supported by state-of-the-art manufacturing facilities with strict hygiene norms. Sectors include consumer packaged goods with a strong emphasis on food and beverage solutions.
- Headquarters Mumbai, India
- Stage Public
- SectorsConsumer
- Website category Finance · Investing
- Emailβ’β’β’β’β’β’β’β’
- Phoneβ’β’β’β’ β’β’β’β’
- Website adf-foods.com
- Social LinkedIn X Facebook
- Legal Name Adf Foods Limited
- Market Cap₹2,671 Cr
ADFFOODS · NSE
- Share Price₹240.49
-1.07% today
- Revenue₹683 Cr
FY 2025-26 · +15.9% YoY
- EBITDA₹124 Cr
Margin 18.1%
- Net Profit₹94.00 Cr
FY 2025-26 · +50.6% YoY
- P/E (TTM)27.6x
P/B 4.4x
- ROE16.9%
ROCE 20.7%
- Debt / Equity0.11
Interest cover 2.6x
- Latest Funding Round$10M (USD), Post-IPO
May 2022
- Investors
Associated legal entities of ADF Foods
ADF Foods is associated with 3 registered companies on The Company Check; the primary company is Adf Foods Limited, a listed company. Each company page carries the filings, financials, charges and directors of that entity.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2026) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Adf Foods Limited Listed CIN L15400GJ1990PLC014265 | Active | 27 Aug 1990 | Nadiad, Gujarat | ₹703 Cr | 354 | 10 | View details |
| H J Thakkar Property Investment Llp CIN AAR-3532 | Active | 19 Dec 2019 | Nadiad, Gujarat | ₹0.2 Cr | 3 | View details | |
| Adf Foods (India) Limited CIN U15132GJ2009PLC058782 | Active | 07 Dec 2009 | Nadiad, Gujarat | ₹0.9 Cr | 1 | 5 | View details |
Products & Services of ADF Foods
ADF Foods offers a comprehensive portfolio of products and services, including Ready-to-Eat Products, Frozen Foods, and Pickles and Chutneys.
Pre-prepared meals are offered for quick consumption globally.
Frozen snacks and vegetables are provided for convenience.
Traditional condiments are produced for meal enhancement worldwide.
Funding Insights of ADF Foods
- Total Rounds 1
- Last Round Post-IPO β $10M
- First Round $10M
(May 2022)
- Investors Count 1
All 1 funding rounds of ADF Foods with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2022 | $10M | Post-IPO | β | β |
1 investors in total: 1 institutional.
Investors in ADF Foods
ADF Foods has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Sixth Sense Ventures.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Venture capital fund investing in consumer-focused startups in India. | 2016 | sixthsenseventures.com | Mumbai, India |
Investor details for ADF Foods
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Adf Foods Limited (ADF Foods)
Adf Foods Limited is the primary company behind ADF Foods. The boards of the 3 registered companies of ADF Foods currently have 13 directors; the longest-serving is Viren Ajitkumar Merchant, appointed in 2005. 26 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Viren Ajitkumar Merchant DIN 00033464 | Director | 03 Nov 2005 | 21 yrs | Adf Foods Limited, Adf Foods (India) Limited |
| Yasir Juzer Varawala DIN 00094919 | Director | 07 Dec 2009 | 16 yrs 11 mo | Adf Foods (India) Limited |
| Nipun Shah DIN 00195076 | Director | 18 Jan 2010 | 16 yrs 9 mo | Adf Foods (India) Limited |
| Shalaka Swapnil Ovalekar DIN 08217726 | Director | 18 May 2018 | 8 yrs 5 mo | Adf Foods (India) Limited |
| Jay Mahendra Mehta DIN 00152072 | Director | 12 Feb 2019 | 7 yrs 8 mo | Adf Foods Limited |
| Parul Bimal Thakkar DIN 02340163 | Designated Partner | 19 Dec 2019 | 6 yrs 10 mo | H J Thakkar Property Investment Llp |
| Bimal Ramesh Thakkar DIN 00087404 | Designated Partner | 19 Dec 2019 | 6 yrs 10 mo | H J Thakkar Property Investment Llp, Adf Foods Limited, Adf Foods (India) Limited |
| Deepa Misra Harris DIN 00064912 | Director | 25 Mar 2020 | 6 yrs 7 mo | Adf Foods Limited |
| Pheroze Kersasp Mistry DIN 00344590 | Director | 19 Sep 2023 | 3 yrs 1 mo | Adf Foods Limited |
| Arjuun Guuha DIN 10366057 | Whole-time director | 31 Oct 2023 | 3 yrs | Adf Foods Limited |
| Manmohan Srivastava DIN 02190050 | Director | 09 May 2024 | 2 yrs 6 mo | Adf Foods Limited |
| Sumer Bimal Thakkar DIN 09608148 | Designated Partner | 20 Jan 2025 | 1 yr 9 mo | H J Thakkar Property Investment Llp |
| Ameet Pratapsinh Hariani DIN 00087866 | Director | 01 Feb 2025 | 1 yr 9 mo | Adf Foods Limited |
People of ADF Foods
26 people are tracked at ADF Foods (12 in leadership, 5 in board & advisors, 9 in team).
| Name | Role | Group |
|---|---|---|
| CEO & Managing Director | Leadership | |
Maneck Katpitia | VP, International Operations & Supply Chain | Leadership |
Shardul Doshi | Chief Financial Officer | Leadership |
Savita Patel | Head of Operations | Leadership |
Swathi Rai | VP Finance And Operations | Leadership |
Vaibhav Wattamwar | General Manager | Leadership |
M. M. Srivastava | Director | Leadership |
Balark Banerjea | President – Indian Domestic Business | Leadership |
Balbir Singh | VP, Manufacturing | Leadership |
Devang Gandhi | Chief Operating Officer | Leadership |
| Director | Leadership | |
| Director | Leadership | |
| Director | Board & advisors | |
| Director | Board & advisors | |
Ravinder Kumar Jain | Director | Board & advisors |
| Director | Board & advisors | |
Chandir G. Gidwani | Director | Board & advisors |
| Chairman & MD | Team | |
Shobhit Trivedi | Senior Manager | Team |
Purvi Dwivedi | GM, Accounts | Team |
6 more people are available in the full profile.
Complete people profiles for ADF Foods
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
IPO & Listings of ADF Foods
ADF Foods is a publicly listed company on the NSE with ticker symbol ADFFOODS in India, operating in the Consumer non-durables sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
- IPO date15 Sep 2010
- Listed onNSE: ADFFOODS
- Listed entityADF Foods Limited
- Exchange sectorConsumer non-durables
- ISININE982B01027
- Share price₹283.20 (+0.73% on the day) · 2026-10-14
- Market capitalisation₹3,086 Cr
- Price to earnings33.8
- EPS (diluted, trailing year)₹8.37
- Dividend yield0.43%
- Volume (last session)44,643
Financials of ADF Foods
Exchange-reported figures of Adf Foods Limited, the listed company behind ADF Foods (NSE: ADFFOODS).
Financial Highlights
FY 2025-26 Β· ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 683 | 590 | 520 | 450 | 421 | 370 | 285 |
| Revenue growth | +15.9% | +13.3% | +15.6% | +6.9% | +13.9% | +29.7% | - |
| EBITDA | 124 | 98.35 | 105 | 80.64 | 66.56 | 68.25 | 52.44 |
| EBITDA margin | +18.1% | +16.7% | +20.2% | +17.9% | +15.8% | +18.5% | +18.4% |
| Profit before tax | 120 | 91.58 | 98.07 | 75.46 | 65.13 | 66.71 | 55.00 |
| Net profit | 94.00 | 62.43 | 71.48 | 53.81 | 47.81 | 49.54 | 43.16 |
| Net profit margin | +13.8% | +10.6% | +13.7% | +12.0% | +11.4% | +13.4% | +15.1% |
| EPS (βΉ) | 8.05 | 6.20 | 6.74 | 25.10 | 22.53 | 24.54 | 20.97 |
| Balance sheet | |||||||
| Total assets | 632 | 554 | 499 | 478 | 416 | 275 | 229 |
| Net worth | 572 | 493 | 441 | 419 | 343 | 274 | 204 |
| Total debt | 55.07 | 59.23 | 55.86 | 55.25 | 69.92 | 0.62 | 23.16 |
| Cash & bank | 72.39 | 66.01 | 67.78 | 63.49 | 77.60 | 64.70 | 36.71 |
| Net working capital | 317 | 274 | 228 | 212 | 214 | 178 | 124 |
| Cash flow | |||||||
| Cash from operations | 57.59 | 37.42 | 69.84 | 50.52 | 34.09 | 35.55 | 31.02 |
| Cash from investing | (4.79) | (38.95) | 13.39 | (60.07) | (52.68) | (8.52) | (38.89) |
| Cash from financing | (24.28) | (21.06) | (63.41) | (4.82) | 33.00 | (7.40) | 13.70 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 167 | 197 | 191 | 163 | 133 | 159 | 147 | 161 |
| Revenue growth (YoY) | +25.9% | +23.7% | +29.5% | +0.8% | +9.3% | - | - | - |
| Other income | 1.10 | 8.70 | 2.52 | 5.83 | 3.05 | 1.59 | 3.96 | 3.55 |
| EBITDA | 29.66 | 34.30 | 30.25 | 35.75 | 23.53 | 24.69 | 26.38 | 27.68 |
| EBITDA margin | +17.7% | +17.4% | +15.8% | +22.0% | +17.7% | +15.5% | +17.9% | +17.2% |
| Depreciation | 6.57 | 5.72 | 5.33 | 5.19 | 4.89 | 4.67 | 4.63 | 4.53 |
| Interest | 0.69 | 0.79 | 0.56 | 0.77 | 0.58 | 0.66 | 0.73 | 0.57 |
| Profit before tax | 23.50 | 36.49 | 26.88 | 35.62 | 21.11 | 20.95 | 24.98 | 26.13 |
| Tax | 6.21 | 10.58 | 4.49 | 9.24 | 5.86 | 4.50 | 6.21 | 6.46 |
| Net profit | 17.29 | 25.91 | 22.39 | 26.38 | 15.25 | 16.45 | 18.77 | 19.67 |
| EPS (βΉ) | 1.57 | 2.36 | 2.04 | 2.40 | 1.39 | 1.50 | 1.71 | 1.79 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 528 | 478 | 414 | 353 | 302 | 237 | 194 |
| Revenue growth | +10.4% | +15.5% | +17.2% | +17.0% | +27.6% | +21.7% | - |
| EBITDA | 124 | 105 | 102 | 76.80 | 53.30 | 51.98 | 38.01 |
| EBITDA margin | +23.5% | +22.0% | +24.6% | +21.7% | +17.7% | +22.0% | +19.6% |
| Profit before tax | 132 | 106 | 106 | 80.78 | 56.13 | 49.18 | 40.53 |
| Net profit | 101 | 73.82 | 75.86 | 57.72 | 41.21 | 36.14 | 31.82 |
| Net profit margin | +19.2% | +15.4% | +18.3% | +16.3% | +13.7% | +15.3% | +16.4% |
| EPS (βΉ) | 8.70 | 7.18 | 7.13 | 26.85 | 19.44 | 17.98 | 15.43 |
| Balance sheet | |||||||
| Total assets | 613 | 528 | 460 | 429 | 350 | 289 | 256 |
| Net worth | 595 | 511 | 451 | 426 | 349 | 288 | 231 |
| Total debt | 14.31 | 15.76 | 7.26 | 1.68 | 0.06 | 0.62 | 23.16 |
| Cash & bank | 40.71 | 54.29 | 41.70 | 42.08 | 54.30 | 45.26 | 26.56 |
| Net working capital | 252 | 228 | 182 | 166 | 144 | 125 | 88.13 |
| Cash flow | |||||||
| Cash from operations | 60.16 | 53.32 | 62.98 | 24.90 | 38.21 | 25.93 | 35.51 |
| Cash from investing | (35.57) | (48.12) | 8.32 | (55.35) | (46.04) | (8.19) | (51.50) |
| Cash from financing | (16.03) | (13.44) | (56.16) | 17.98 | 18.38 | (7.40) | 13.70 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 121 | 150 | 137 | 140 | 100 | 135 | 121 | 126 |
| Revenue growth (YoY) | +20.5% | +11.6% | +13.3% | +11.5% | +3.4% | - | - | - |
| Other income | 0.71 | 8.47 | 2.10 | 5.35 | 2.74 | 1.05 | 3.40 | 3.09 |
| Total expenses | 93.42 | 114 | 110 | 102 | 77.88 | 105 | 95.63 | 97.94 |
| EBITDA | 27.52 | 36.55 | 27.59 | 37.70 | 22.46 | 29.28 | 25.48 | 27.71 |
| EBITDA margin | +22.8% | +24.3% | +20.1% | +26.9% | +22.4% | +21.7% | +21.0% | +22.1% |
| Depreciation | 3.29 | 2.57 | 2.33 | 2.26 | 2.09 | 1.89 | 1.94 | 1.89 |
| Interest | 0.40 | 0.48 | 0.26 | 0.46 | 0.26 | 0.33 | 0.39 | 0.23 |
| Profit before tax | 24.54 | 41.97 | 27.10 | 40.33 | 22.85 | 28.11 | 26.55 | 28.68 |
| Tax | 6.28 | 11.88 | 6.72 | 10.61 | 5.85 | 6.63 | 6.35 | 7.31 |
Financial Statements
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 167 | 197 | 191 | 163 | 133 | 159 | 147 | 161 |
| Revenue growth (YoY) | +25.9% | +23.7% | +29.5% | +0.8% | +9.3% | - | - | - |
| Other income | 1.10 | 8.70 | 2.52 | 5.83 | 3.05 | 1.59 | 3.96 | 3.55 |
| EBITDA | 29.66 | 34.30 | 30.25 | 35.75 | 23.53 | 24.69 | 26.38 | 27.68 |
| EBITDA margin | +17.7% | +17.4% | +15.8% | +22.0% | +17.7% | +15.5% | +17.9% | +17.2% |
| Depreciation | 6.57 | 5.72 | 5.33 | 5.19 | 4.89 | 4.67 | 4.63 | 4.53 |
| Interest | 0.69 | 0.79 | 0.56 | 0.77 | 0.58 | 0.66 | 0.73 | 0.57 |
| Profit before tax | 23.50 | 36.49 | 26.88 | 35.62 | 21.11 | 20.95 | 24.98 | 26.13 |
| Tax | 6.21 | 10.58 | 4.49 | 9.24 | 5.86 | 4.50 | 6.21 | 6.46 |
| Net profit | 17.29 | 25.91 | 22.39 | 26.38 | 15.25 | 16.45 | 18.77 | 19.67 |
| EPS (βΉ) | 1.57 | 2.36 | 2.04 | 2.40 | 1.39 | 1.50 | 1.71 | 1.79 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 683 | 590 | 520 | 450 | 421 | 370 | 285 |
| Revenue growth | +15.9% | +13.3% | +15.6% | +6.9% | +13.9% | +29.7% | - |
| Other income | 20.10 | 14.06 | 11.09 | 11.21 | 9.46 | 5.51 | 9.42 |
| Total expenses | 559 | 491 | 415 | 370 | 355 | 302 | 233 |
| Employee cost | 49.99 | 41.88 | 33.54 | 29.69 | 23.55 | 17.64 | 17.64 |
| EBITDA | 124 | 98.35 | 105 | 80.64 | 66.56 | 68.25 | 52.44 |
| EBITDA margin | +18.1% | +16.7% | +20.2% | +17.9% | +15.8% | +18.5% | +18.4% |
| Depreciation | 21.13 | 18.25 | 15.59 | 13.74 | 9.08 | 5.89 | 5.53 |
| Interest | 2.70 | 2.58 | 2.34 | 2.65 | 1.81 | 1.16 | 1.33 |
| Profit before tax | 120 | 91.58 | 98.07 | 75.46 | 65.13 | 66.71 | 55.00 |
| Tax | 30.17 | 22.34 | 24.28 | 19.60 | 16.61 | 16.64 | 12.21 |
| Net profit | 94.00 | 62.43 | 71.48 | 53.81 | 47.81 | 49.54 | 43.16 |
| Net profit margin | +13.8% | +10.6% | +13.7% | +12.0% | +11.4% | +13.4% | +15.1% |
| EPS (βΉ) | 8.05 | 6.20 | 6.74 | 25.10 | 22.53 | 24.54 | 20.97 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 22.35 | 22.35 | 22.35 | 22.35 | 21.34 | 20.40 | 20.40 |
| Reserves & surplus | 550 | 470 | 419 | 397 | 313 | 235 | 184 |
| Shareholders' funds (net worth) | 572 | 493 | 441 | 419 | 343 | 274 | 204 |
| Minority interest | 0.00 | 0.00 | 0.88 | 2.37 | 2.62 | 0.00 | 0.00 |
| Secured loans | 8.75 | 8.75 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 46.32 | 50.48 | 55.86 | 55.25 | 69.92 | 0.62 | 23.16 |
| Total debt | 55.07 | 59.23 | 55.86 | 55.25 | 69.92 | 0.62 | 23.16 |
| Total liabilities | 632 | 554 | 499 | 478 | 416 | 275 | 229 |
| Assets | |||||||
| Gross block | 376 | 279 | 257 | 234 | 206 | 115 | 109 |
| Net block | 258 | 186 | 182 | 175 | 160 | 77.23 | 77.20 |
| Capital work in progress | 26.99 | 18.88 | 5.11 | 6.72 | 0.14 | 0.35 | 2.38 |
| Investments | 14.52 | 60.72 | 76.73 | 79.99 | 39.27 | 16.63 | 18.03 |
| Inventories | 120 | 89.88 | 53.02 | 63.12 | 76.21 | 72.94 | 54.65 |
| Sundry debtors | 144 | 117 | 108 | 94.26 | 70.95 | 64.92 | 53.19 |
| Cash & bank balances | 72.39 | 66.01 | 67.78 | 63.49 | 77.60 | 64.70 | 36.71 |
| Loans & advances | 91.17 | 61.55 | 44.52 | 28.47 | 35.38 | 19.53 | 14.89 |
| Total current assets | 427 | 335 | 274 | 249 | 260 | 222 | 159 |
| Total current liabilities | 110 | 60.98 | 45.41 | 37.28 | 46.11 | 44.54 | 35.83 |
| Net working capital | 317 | 274 | 228 | 212 | 214 | 178 | 124 |
| Total assets | 632 | 554 | 499 | 478 | 416 | 275 | 229 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 37.09 | 59.69 | 39.88 | 54.24 | 39.84 | 20.21 | 14.38 |
| Net cash from operating activities | 57.59 | 37.42 | 69.84 | 50.52 | 34.09 | 35.55 | 31.02 |
| Net cash from investing activities | (4.79) | (38.95) | 13.39 | (60.07) | (52.68) | (8.52) | (38.89) |
| Net cash from financing activities | (24.28) | (21.06) | (63.41) | (4.82) | 33.00 | (7.40) | 13.70 |
| Net change in cash | 28.52 | (22.60) | 19.81 | (14.36) | 14.40 | 19.63 | 5.83 |
| Closing cash | 72.39 | 66.01 | 67.78 | 63.49 | 77.60 | 64.70 | 36.71 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +15.9% | +13.3% | +15.6% | +6.9% | +13.9% | +29.7% | - |
| EBITDA growth | +25.9% | -6.3% | +30.1% | +21.2% | -2.5% | +30.2% | - |
| PBT growth | +31.1% | -6.6% | +30.0% | +15.9% | -2.4% | +21.3% | +45.8% |
| Net income growth | +50.6% | -12.7% | +32.8% | +12.6% | -3.5% | +14.8% | - |
| Revenue CAGR (3Y) | +14.9% | +11.9% | +12.1% | +16.4% | +22.1% | +22.6% | +12.4% |
| EBITDA CAGR (3Y) | +15.4% | +13.9% | +15.4% | +15.4% | +32.1% | +53.1% | +33.8% |
| Profitability & leverage | |||||||
| Net income margin | +13.2% | +11.7% | +14.2% | +12.4% | +11.5% | +13.5% | +15.0% |
| Return on capital employed | +20.7% | +17.9% | +20.6% | +17.6% | +19.4% | +26.9% | +28.0% |
| Return on net worth | +16.9% | +14.8% | +17.2% | +14.7% | +15.7% | +21.0% | +22.7% |
| Debt / equity | 0.11 | 0.12 | 0.13 | 0.16 | 0.11 | 0.05 | 0.06 |
| Long-term debt / equity | 0.09 | 0.11 | 0.11 | 0.14 | 0.10 | 0.00 | 0.00 |
| Interest cover | 2.63 | 3.22 | 2.62 | 3.96 | 3.15 | 1.86 | 2.84 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.08 | 2.20 | 2.12 | 2.05 | 2.63 | 3.31 | 2.81 |
| Inventory turnover | 6.53 | 8.25 | 8.96 | 6.46 | 5.65 | 5.80 | 6.39 |
| Debtors turnover | 5.24 | 5.22 | 5.13 | 5.45 | 6.20 | 6.26 | 5.87 |
| EPS (βΉ) | 8.05 | 6.20 | 6.74 | 25.10 | 22.53 | 24.54 | 20.97 |
| Dividend per share (βΉ) | 1.20 | 1.20 | 5.20 | 5.00 | 4.00 | 3.00 | 3.00 |
| Book value per share (βΉ) | 51.18 | 44.08 | 39.47 | 187.57 | 156.42 | 125.42 | 100.20 |
| Particulars | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 121 | 150 | 137 | 140 | 100 | 135 | 121 | 126 |
| Revenue growth (YoY) | +20.5% | +11.6% | +13.3% | +11.5% | +3.4% | - | - | - |
| Other income | 0.71 | 8.47 | 2.10 | 5.35 | 2.74 | 1.05 | 3.40 | 3.09 |
| Total expenses | 93.42 | 114 | 110 | 102 | 77.88 | 105 | 95.63 | 97.94 |
| EBITDA | 27.52 | 36.55 | 27.59 | 37.70 | 22.46 | 29.28 | 25.48 | 27.71 |
| EBITDA margin | +22.8% | +24.3% | +20.1% | +26.9% | +22.4% | +21.7% | +21.0% | +22.1% |
| Depreciation | 3.29 | 2.57 | 2.33 | 2.26 | 2.09 | 1.89 | 1.94 | 1.89 |
| Interest | 0.40 | 0.48 | 0.26 | 0.46 | 0.26 | 0.33 | 0.39 | 0.23 |
| Profit before tax | 24.54 | 41.97 | 27.10 | 40.33 | 22.85 | 28.11 | 26.55 | 28.68 |
| Tax | 6.28 | 11.88 | 6.72 | 10.61 | 5.85 | 6.63 | 6.35 | 7.31 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 528 | 478 | 414 | 353 | 302 | 237 | 194 |
| Revenue growth | +10.4% | +15.5% | +17.2% | +17.0% | +27.6% | +21.7% | - |
| Other income | 18.66 | 9.94 | 10.91 | 10.11 | 9.11 | 4.25 | 9.37 |
| Total expenses | 404 | 373 | 312 | 277 | 249 | 185 | 156 |
| Employee cost | 32.00 | 28.56 | 25.05 | 20.46 | 17.91 | 14.77 | 15.12 |
| EBITDA | 124 | 105 | 102 | 76.80 | 53.30 | 51.98 | 38.01 |
| EBITDA margin | +23.5% | +22.0% | +24.6% | +21.7% | +17.7% | +22.0% | +19.6% |
| Depreciation | 9.25 | 7.54 | 6.38 | 5.52 | 5.50 | 5.89 | 5.52 |
| Interest | 1.45 | 1.19 | 0.80 | 0.61 | 0.78 | 1.16 | 1.33 |
| Profit before tax | 132 | 106 | 106 | 80.78 | 56.13 | 49.18 | 40.53 |
| Tax | 35.06 | 26.24 | 26.09 | 20.76 | 14.63 | 12.51 | 9.07 |
| Net profit | 101 | 73.82 | 75.86 | 57.72 | 41.21 | 36.14 | 31.82 |
| Net profit margin | +19.2% | +15.4% | +18.3% | +16.3% | +13.7% | +15.3% | +16.4% |
| EPS (βΉ) | 8.70 | 7.18 | 7.13 | 26.85 | 19.44 | 17.98 | 15.43 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 22.35 | 22.35 | 22.35 | 22.35 | 21.34 | 20.40 | 20.40 |
| Reserves & surplus | 572 | 489 | 429 | 403 | 319 | 250 | 211 |
| Shareholders' funds (net worth) | 595 | 511 | 451 | 426 | 349 | 288 | 231 |
| Secured loans | 8.75 | 8.75 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Unsecured loans | 5.56 | 7.01 | 7.26 | 1.68 | 0.06 | 0.62 | 23.16 |
| Total debt | 14.31 | 15.76 | 7.26 | 1.68 | 0.06 | 0.62 | 23.16 |
| Total liabilities | 613 | 528 | 460 | 429 | 350 | 289 | 256 |
| Assets | |||||||
| Gross block | 245 | 161 | 142 | 129 | 110 | 101 | 94.83 |
| Net block | 190 | 115 | 103 | 95.53 | 81.32 | 77.22 | 77.19 |
| Capital work in progress | 26.99 | 18.88 | 5.11 | 0.69 | 0.14 | 0.35 | 2.38 |
| Investments | 148 | 165 | 171 | 168 | 126 | 86.60 | 84.17 |
| Inventories | 55.30 | 45.93 | 36.47 | 36.64 | 35.32 | 30.42 | 27.56 |
| Sundry debtors | 156 | 116 | 98.41 | 88.66 | 60.92 | 54.25 | 43.93 |
| Cash & bank balances | 40.71 | 54.29 | 41.70 | 42.08 | 54.30 | 45.26 | 26.56 |
| Loans & advances | 83.55 | 56.17 | 41.20 | 26.95 | 26.18 | 19.20 | 14.05 |
| Total current assets | 336 | 272 | 218 | 194 | 177 | 149 | 112 |
| Total current liabilities | 83.36 | 43.95 | 36.17 | 28.14 | 32.77 | 23.97 | 23.97 |
| Net working capital | 252 | 228 | 182 | 166 | 144 | 125 | 88.13 |
| Total assets | 613 | 528 | 460 | 429 | 350 | 289 | 256 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 25.38 | 33.62 | 18.47 | 30.94 | 20.39 | 10.06 | 12.35 |
| Net cash from operating activities | 60.16 | 53.32 | 62.98 | 24.90 | 38.21 | 25.93 | 35.51 |
| Net cash from investing activities | (35.57) | (48.12) | 8.32 | (55.35) | (46.04) | (8.19) | (51.50) |
| Net cash from financing activities | (16.03) | (13.44) | (56.16) | 17.98 | 18.38 | (7.40) | 13.70 |
| Net change in cash | 8.56 | (8.24) | 15.15 | (12.47) | 10.55 | 10.34 | (2.29) |
| Closing cash | 40.71 | 54.29 | 41.70 | 42.08 | 54.30 | 45.26 | 26.56 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +10.4% | +15.5% | +17.2% | +17.0% | +27.6% | +21.7% | - |
| EBITDA growth | +18.1% | +3.2% | +32.8% | +44.1% | +2.5% | +36.8% | - |
| PBT growth | +24.3% | +0.7% | +30.9% | +43.9% | +14.1% | +21.3% | -7.8% |
| Net income growth | +37.4% | -2.7% | +31.4% | +40.1% | +14.0% | +13.6% | - |
| Revenue CAGR (3Y) | +14.3% | +16.6% | +20.5% | +22.0% | +17.2% | +13.1% | +5.6% |
| EBITDA CAGR (3Y) | +17.4% | +25.5% | +25.2% | +26.4% | +14.9% | +43.3% | +20.4% |
| Profitability & leverage | |||||||
| Net income margin | +18.4% | +16.8% | +19.2% | +17.0% | +13.7% | +15.5% | +16.2% |
| Return on capital employed | +23.4% | +21.8% | +24.0% | +20.9% | +17.8% | +18.5% | +17.9% |
| Return on net worth | +17.6% | +16.7% | +18.2% | +15.5% | +13.0% | +14.1% | +14.3% |
| Debt / equity | 0.03 | 0.02 | 0.01 | 0.00 | 0.00 | 0.05 | 0.05 |
| Long-term debt / equity | 0.02 | 0.02 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest cover | 1.26 | 1.22 | 0.84 | 0.86 | 1.63 | 2.52 | 4.09 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 2.60 | 3.16 | 3.06 | 2.97 | 2.87 | 2.42 | 2.21 |
| Inventory turnover | 10.43 | 11.61 | 11.33 | 9.82 | 9.19 | 8.16 | 7.24 |
| Debtors turnover | 3.88 | 4.47 | 4.43 | 4.72 | 5.24 | 4.82 | 4.51 |
| EPS (βΉ) | 8.70 | 7.18 | 7.13 | 26.85 | 19.44 | 17.98 | 15.43 |
| Dividend per share (βΉ) | 1.20 | 1.20 | 1.20 | 5.00 | 4.00 | 3.00 | 3.00 |
| Book value per share (βΉ) | 53.22 | 45.73 | 40.35 | 190.44 | 159.34 | 132.30 | 113.39 |
Timeline of ADF Foods
3 dated milestones of ADF Foods across 90 years, from founding to its latest funding, stage changes and deals.
- Founded ADF Foods is founded.
- IPO Lists on the stock exchange (IPO).
- Funding First funding round of $10.0M.
Competitors of ADF Foods
ADF Foods has 3 listed competitors in our database, 2 of them funded. They include Veeba, Cremica and Masterchow.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| veeba.in | 2012 | Gurugram, India | $58.27M | 1,238 | Internet first brand of sauces, dips, and other condiment products | |
| cremica.com | 1978 | Delhi, India | 649 | Biscuits, sauces, bread, and related condiments are produced by Cremica. | ||
| masterchow.in | 2020 | Delhi, India | $10.46M | 32 | Multi-category sauces are offered by this internet-first brand. |
Detailed competitors of ADF Foods
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- Full competitor set
- Operating metrics
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Web traffic of ADF Foods
The website of ADF Foods (adf-foods.com) receives about 14.2K visits a month and ranks #1,125,561 among all websites worldwide, #9,880 in Investing.
- Monthly visits14.2K
▼ 35.2% vs previous month
- Unique visitors9.3K
per month
- Global rank#1,125,561
among all websites
- Category rank#9,880
Finance · Investing
- Bounce rate42%
- Pages per visit2.5
- Average visit2 min 46 sec
- DevicesDesktop 15% Β· Mobile 85%
Websites whose visitors overlap most with ADF Foods. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| jandhyalafoods.in | 100% | 26.3K | #1,000,823 | View details | |
| shivamfoodsmumbai.com | 44% | View details | |||
| swatisnacks.com | 42% | 6.1K | #2,711,672 | View details | |
asiandukan.co.uk | asiandukan.co.uk | 39% | #2,703,439 | β | |
| annapurnasnacks.in | 38% | 7.7K | #2,596,158 | View details |
Top companies in Food & Beverage Products & Processing
3 companies that operate in the same segment as ADF Foods (Food & Beverage Products & Processing) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Platform offering a subscription-based delivery service for fresh milk and groceries | 2015 | Gurugram, Haryana, India | USD 228.42 M | USD 99.78 M | 3,464 | |
Subscription-based coffee products are offered by an internet-first brand. | 2013 | Gurugram, Haryana, India | USD 112.84 M | USD 25.83 M | 2,059 | |
Meat and seafood products are delivered via an online platform. | 2015 | Bengaluru, Karnataka, India | USD 564.84 M | USD 143.51 M | 2,828 |
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Related news about Adf Foods
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Frequently Asked Questions about ADF Foods
ADF Foods was founded in 1932 and raised its 1st funding round 90 years after it was founded.
ADF Foods is headquartered in Mumbai, India. It is registered at Mumbai, Maharashtra, India.
Bimal Thakkar is the CEO of ADF Foods, as recorded in our data.
The primary company behind ADF Foods, Adf Foods Limited, reported revenue of βΉ703 Cr for FY 2026, up 16% year on year.
ADF Foods is involved in the production and global distribution of ethnic Indian food products, including ready-to-eat meals, frozen foods, pickles, chutneys, and cooking pastes. The company operates in over 55 countries, serving major grocery chains and ethnic stores. Its offerings are focused on taste, ease, and quality, supported by state-of-the-art manufacturing facilities with strict hygiene norms. Sectors include consumer packaged goods with a strong emphasis on food and beverage solutions.
ADF Foods's top competitors include Veeba, Masterchow and Cremica.
ADF Foods offers Ready-to-Eat Products, Frozen Foods, and Pickles and Chutneys.
Yes, ADF Foods is publicly traded on NSE under the ticker symbol ADFFOODS.
ADF Foods has 1 investor. Key investors include Sixth Sense Ventures.
ADF Foods is associated with 3 legal entities: Adf Foods Limited, H J Thakkar Property Investment Llp, Adf Foods (India) Limited.
The legal entities of ADF Foods currently have 14 directors, including Parul Bimal Thakkar, Bimal Ramesh Thakkar, Sumer Bimal Thakkar and others.
