FOODSIN
Foods & Inns financials
- Market cap
- ₹404 Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 7
Foods & Inns Limited Q1 FY27
What went well
- Frozen food segment achieved 20% growth in Q1 FY27, continuing a 30% CAGR over the last two years.
- Kusum spices segment demonstrated a 14.7% year-on-year growth.
- Commercial production for the pectin segment has started, attracting interest from major export brands.
What to watch
- Export dispatches are significantly slowed due to vessel non-availability and increased ocean freight costs, leading to delayed call-offs.
- Delayed exports have resulted in working capital blockage and higher interest costs for the company.
What Foods & Inns Limited does
Foods & Inns processes fruits and vegetables into pulp and puree (mango, tomato, guava and others) sold to marquee customers like Coca-Cola and PepsiCo, and runs adjacent lines in spray-dried fruit/vegetable/dairy powders, frozen fruits/vegetables/snacks under its GreenTop brand, branded spices under Kusum Masala, and Tetra Recart sustainable carton packaging. It also converts mango-pulping waste into Pectin through a JV facility in Chittoor, Andhra Pradesh. Products are sold domestically and exported to over 50 countries, with the mango pulp business built on long-term farmer sourcing relationships and its own in-house pulp brand 'Madhu'.
Segments
- Fruits & Vegetable Pulping
- Spray Drying
- Frozen Food
- Spices & Masala
- Tetra Recart
- Pectin
- Processing units
- 7 self-owned facilities across Maharashtra (Gonde, Sinnar), Gujarat (Valsad, Vankal) and Andhra Pradesh (Chittoor: APP, FPP1, FPP2, FPP3)
- Logistics centres
- 2 (Mumbai and Chennai)
- Full-time employees
- 600+
- Countries served
- 50+
- Product varieties processed
- 30+
- Spray drying capacity
- 1,100 MTPA installed, expanding by 120 MTPA (target commercial ops Dec 2026)
Guidance record · Q1 FY27
what the last two calls moved 14 tracked 3 delivered 5 missed 6 open- Revenue Target diluted said Q3 FY25 Promised: INR 1,700-odd crores by FY27 Q1 FY27: The revenue target was not mentioned. Management reiterated that the top line is stagnant due to value degrowth from lower raw material prices, reinforcing the shift in focus to volume growth.
- Pectin JV Revenue delayed said Q3 FY25 Promised: See some numbers by Q4 FY25 end Q1 FY27: Commercial production has started, but management now expects opportunities to materialize from October/November onwards (H2 FY27), confirming the delay past the original FY26 target.
- Frozen Food Segment Growth FY27 open said Q1 FY27 Promised: 20%-plus growth for the current year (FY27) Q1 FY27: we are expecting that this year, it can be with a growth of 20%-plus.
All 14 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 33.3%, net profit down 46.1% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 169 | 189 | 397 | 236 | 193 +14% | 150 −21% | 289 −27% | 157 −33% |
| EBITDA | 24 | 19 | 48 | 26 | 18 −25% | 17 −9% | 40 −17% | 20 −20% |
| Net profit | 11 | 1 | 23 | 7 | 1 −94% | 0 −46% | 19 −16% | 4 −46% |
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 −40.6% 1Y
1Y: ₹92.94 on 10 Sept 2025 → ₹55.23. High ₹93.26 (12 Sept 2025), low ₹45.83 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +5.2%
- 13 Aug
- Q4 FY26
- +5.9%
- 2 Jun
- Q3 FY26
- −8.7%
- 13 Feb
- Q2 FY26
- −3.2%
- 14 Nov
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 fell 4.6% a year over 3 years, FY23 to FY26. Operating margin widened to 11.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹999 Cr | ₹1.0k Cr | ₹1.0k Cr | ₹868 Cr |
| Operating profit | ₹98 Cr | ₹120 Cr | ₹117 Cr | ₹100 Cr |
| Operating margin | 9.8% | 11.8% | 11.6% | 11.5% |
| Interest | ₹28 Cr | ₹46 Cr | ₹58 Cr | ₹47 Cr |
| Depreciation | ₹14 Cr | ₹16 Cr | ₹21 Cr | ₹25 Cr |
| Net profit | ₹47 Cr | ₹37 Cr | ₹42 Cr | ₹28 Cr |
| Net margin | 4.7% | 3.6% | 4.2% | 3.2% |
| Cash from operations | ₹-73 Cr | ₹-22 Cr | ₹15 Cr | ₹132 Cr |
| Free cash flow | ₹-137 Cr | ₹-86 Cr | ₹-41 Cr | ₹94 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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹5 Cr | ₹5 Cr | ₹5 Cr | ₹6 Cr | ₹7 Cr | ₹7 Cr |
| Reserves | ₹177 Cr | ₹192 Cr | ₹307 Cr | ₹393 Cr | ₹537 Cr | ₹558 Cr |
| Borrowings | ₹164 Cr | ₹223 Cr | ₹342 Cr | ₹469 Cr | ₹482 Cr | ₹432 Cr |
| Other liabilities | ₹81 Cr | ₹154 Cr | ₹156 Cr | ₹160 Cr | ₹404 Cr | ₹304 Cr |
| Total liabilities | ₹427 Cr | ₹574 Cr | ₹811 Cr | ₹1.0k Cr | ₹1.4k Cr | ₹1.3k Cr |
| Fixed assets | ₹127 Cr | ₹133 Cr | ₹173 Cr | ₹246 Cr | ₹332 Cr | ₹335 Cr |
| Capital work in progress | ₹18 Cr | ₹55 Cr | ₹61 Cr | ₹39 Cr | ₹8 Cr | ₹10 Cr |
| Investments | ₹0 Cr | ₹1 Cr | ₹12 Cr | ₹12 Cr | ₹4 Cr | ₹4 Cr |
| Other assets | ₹282 Cr | ₹384 Cr | ₹565 Cr | ₹729 Cr | ₹1.1k Cr | ₹952 Cr |
| Total assets | ₹427 Cr | ₹574 Cr | ₹811 Cr | ₹1.0k Cr | ₹1.4k Cr | ₹1.3k 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 Jun 2026
Since Jun 2025, DIIs trimmed −0.13 pp while the public added +0.12 pp. The shareholder count shrank 7% to 22,041.
- Promoters
- 25.4%
- FIIs
- 0.0%
- DIIs
- 1.1%
- Public
- 73.5%
Since Jun 2025
- DIIs −0.13 pp
- Public +0.12 pp
- Promoters +0.02 pp
How it drifted, 12 quarters
Over this window promoters fell from 28.8% to 25.4% — −3.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 28.8%, FIIs 0.8%, DIIs 0.1%, Public 70.3%.Dec '23: Promoters 27.7%, FIIs 0.1%, DIIs 0.1%, Public 72.0%.Mar '24: Promoters 20.6%, FIIs 0.3%, Public 79.1%.Jun '24: Promoters 16.0%, FIIs 1.6%, DIIs 0.1%, Public 82.3%.Sep '24: Promoters 25.5%, FIIs 1.5%, Public 73.0%.Dec '24: Promoters 25.5%, FIIs 1.4%, DIIs 1.1%, Public 72.0%.Mar '25: Promoters 25.4%, FIIs 1.4%, DIIs 1.3%, Public 71.9%.Jun '25: Promoters 25.4%, DIIs 1.3%, Public 73.4%.Sep '25: Promoters 25.4%, FIIs 0.1%, DIIs 1.1%, Public 73.4%.Dec '25: Promoters 25.4%, FIIs 0.1%, DIIs 1.1%, Public 73.3%.Mar '26: Promoters 25.4%, FIIs 0.1%, DIIs 1.1%, Public 73.4%.Jun '26: Promoters 25.4%, FIIs 0.0%, DIIs 1.1%, Public 73.5%.
Who is on the register
Named in the Jun 2026 filing
Every holder of Foods & Inns Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Barclays Wealth Trustees India Private Limited | 12.24% | unchanged |
| Raymond Simkins | 8.74% | unchanged |
| Aeon Trading Llp | 7.50% | unchanged |
| Florintree Digital Llp | 6.80% | unchanged |
| Hi-Tech Chemicals Limited | 4.11% | unchanged |
| Mpil Corporation Limited | 4.08% | unchanged |
| Rekha Bhupendra Dalal | 3.09% | unchanged |
| Milan Bhupendra Dalal | 3.00% | unchanged |
| Pallavi Utsav Dhupelia | 1.72% | unchanged |
| Veena M Dalal | 1.43% | unchanged |
| Kapil Ahuja | 1.35% | unchanged |
| Western Press Private Limited | 1.24% | 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.
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Foods & Inns Limited
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