540404

Prime Fresh financials

Market cap
₹228 Cr
Sector
Fast Moving Consumer Goods
Calls analysed
1
Latest concall · Q1 FY27 · call held 18 Aug 2026

Prime Fresh Q1 FY27

Revenue ₹81.71 cr +53%EBITDA ₹6 cr +49%EBITDA Margin 9.83% PAT ₹4.35 cr +51%

What went well

  • Revenue grew to INR 81.71 crores, marking a 53.2% increase YoY from INR 53.34 crores.
  • EBITDA surged to INR 6 crores, a 49.25% YoY jump from INR 4.02 crores, with margins expanding to 9.83% from 7.53%.
  • PAT also saw a significant 50.51% YoY increase, reaching INR 4.35 crores from INR 2.89 crores.

What to watch

  • Q1 EBITDA margins of 9.83% are noted as potentially unsustainable due to one-time factors like pending recoveries in the service business and inventory gains from rising F&V prices.
  • Pomegranate value growth may not align with volume growth due to falling prices despite strong production, impacting overall revenue quality.
Read the full call →

What Prime Fresh does

Prime Fresh Limited runs an integrated post-harvest supply chain for fresh fruits and vegetables, sourcing directly from farmers across India and moving produce through collection centres, ripening chambers, cold storage and distribution centres to retail chains, wholesalers, HORECA, exporters and food-processing companies. It earns on a cost-plus pricing model, adding a margin over procurement and operational costs. Separately, it runs a service business offering warehousing, re-packing and payrolling solutions to corporate clients (e.g. logistics, tea, pharma and spice companies) under a 3PL model.

Segments

  • Fruits & Vegetables supply chain
  • Service business (3PL)
Farmer network
120,000+ farmers, PAN-India
Geographic presence
18 states, 85+ districts, 19+ locations of procurement/operations
Distribution centres
7 owned DCs (Gujarat, Maharashtra, Hyderabad, Bengaluru, Lucknow, Delhi)
Pack houses & cold storage
35+ facilities across Gujarat, Maharashtra & Rajasthan
Daily F&V handled
450+ tonnes/day
Operational capacity
6 lakh+ tonnes/yr (inward, outward, sorting, cleaning, loading, unloading)
Founded 2007Headquarters Ahmedabad, Gujarat, India Company website

Guidance record · Q1 FY27

what the last two calls moved 9 tracked 0 delivered 0 missed 9 open
  • Value Growth open said Q1 FY27 Promised: our value growth could be between 25% to 30% Q1 FY27: Guidance of 25% to 30% value growth for the current year was introduced.

All 9 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 30.5%, net profit up 39.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue49 52 51 50 56 +13%70 +36%67 +33%65 +31%
EBITDA2 3 3 4 3 +41%5 +100%4 +39%5 +44%
Net profit2 2 2 3 3 +28%4 +127%3 +39%4 +39%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −38.8% 1Y

₹150₹200₹250₹300Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q1 FY27 — 18 Aug 2026

1Y: ₹259.95 on 10 Sept 2025 → ₹159. High ₹317.55 (22 Sept 2025), low ₹159 (11 Sept 2026).

How the price took the results

close before → close after

Q1 FY27
−2.0%
18 Aug

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 24.6% a year over 1 year, FY25 to FY26. Operating margin widened to 6.8%.

Year endingFY25FY26
Revenue₹195 Cr₹243 Cr
Operating profit₹12 Cr₹17 Cr
Operating margin6.3%6.8%
Interest₹0 Cr₹1 Cr
Depreciation₹0 Cr₹0 Cr
Net profit₹9 Cr₹12 Cr
Net margin4.6%4.9%
Cash from operations₹-10 Cr₹-1 Cr
Free cash flow₹-11 Cr₹-3 Cr
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹4 Cr₹12 Cr₹13 Cr₹14 Cr₹14 Cr₹14 Cr
Reserves₹14 Cr₹10 Cr₹17 Cr₹48 Cr₹66 Cr₹75 Cr
Borrowings₹3 Cr₹4 Cr₹4 Cr₹0 Cr₹0 Cr₹7 Cr
Other liabilities₹3 Cr₹3 Cr₹3 Cr₹7 Cr₹7 Cr₹11 Cr
Total liabilities₹24 Cr₹29 Cr₹38 Cr₹69 Cr₹87 Cr₹107 Cr
Fixed assets₹0 Cr₹0 Cr₹1 Cr₹1 Cr₹1 Cr₹3 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹7 Cr₹1 Cr₹5 Cr
Other assets₹23 Cr₹28 Cr₹36 Cr₹60 Cr₹84 Cr₹99 Cr
Total assets₹24 Cr₹29 Cr₹38 Cr₹69 Cr₹87 Cr₹107 Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Aug 2026

Since Sep 2025, the public trimmed −0.85 pp while promoters added +0.77 pp. The shareholder count grew 15% to 1,607.

Promoters
50.7%
DIIs
0.9%
Public
48.4%

Since Sep 2025

  • Public −0.85 pp
  • Promoters +0.77 pp
  • DIIs +0.08 pp

How it drifted, 12 quarters

Over this window promoters fell from 59.0% to 50.7% — −8.3 pp.

Sep '22Mar '25Aug '26

Ownership split by quarter, oldest first. Sep '22: Promoters 59.0%, Public 41.0%.Mar '23: Promoters 57.6%, Public 42.4%.Sep '23: Promoters 57.6%, Public 42.4%.Mar '24: Promoters 52.9%, FIIs 0.0%, Public 47.1%.Sep '24: Promoters 50.8%, FIIs 0.1%, Public 49.1%.Mar '25: Promoters 49.9%, FIIs 0.1%, Public 50.1%.Jun '25: Promoters 49.9%, FIIs 0.1%, DIIs 0.5%, Public 49.5%.Sep '25: Promoters 49.9%, DIIs 0.8%, Public 49.3%.Dec '25: Promoters 49.9%, DIIs 0.9%, Public 49.1%.Mar '26: Promoters 50.8%, DIIs 0.9%, Public 48.4%.Jun '26: Promoters 50.8%, DIIs 0.9%, Public 48.4%.Aug '26: Promoters 50.7%, DIIs 0.9%, Public 48.4%.

Who was buying across the market this quarter →

Who is on the register

Named in the Aug 2026 filing

Every holder of Prime Fresh above SEBI's 1% disclosure line, and what changed since Jun 2026.

HolderStakeChange
Hiren Chandrakant Ghelani 30.80%unchanged
Jinen Chandrakant Ghelani 5.78%unchanged
Hardik Chandrakant Ghelani 4.51%unchanged
Kulin Shantilal Vora 3.00%unchanged
N H Time Investments Research Private Limited 2.94%unchanged
Prosperity Securities Private Limited 2.89%unchanged
Sona Singh 2.52%unchanged
Kutmutia Rujit Kisore 2.43%unchanged
Kapil Mahesh Kumar Jhaveri 2.32%unchanged
Ameesha Jitendra Karia . 2.15%unchanged
Shoolin Studios Private Limited 2.01%unchanged
Gurmeetsingh Bhamrah 1.89%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

What the price assumes

Attractive

To justify its price of ₹159, this stock must grow earnings at 10% every year for 7 years. Our analysis caps realistic growth at ~36%. At that growth it is worth ₹591 — upside of 271%.

Growth the price implies
9.6% a year
for 7 years, fading to 4%
It has actually compounded at
36.2% a year
net profit, FY25–FY26 · EPS 35.5%
The gap
-0.3 pp
271% downside if it only repeats history
Price today ₹159 Value at the reference growth ₹590.51

Change the assumptions yourself →

Learn to analyse Prime Fresh

Guides on how to read this kind of business and the numbers that matter.