KRISHIVAL

Krishival Foods financials

Market cap
₹1.2k Cr
Sector
Fast Moving Consumer Goods
Calls analysed
2
Latest concall · Q4 FY26 · call held 08 May 2026

Krishival Foods Q4 FY26

Revenue ₹304.41 cr +48%EBITDA ₹41.95 cr +66%EBITDA Margin 13.78% PAT ₹22.2 cr +64%

What went well

  • Revenue of INR 304.41 crores, up 48% YoY in FY26.
  • EBITDA of INR 41.95 crores, up 66% YoY, with margin at 13.78% in FY26.
  • PAT of INR 22.2 crores, up 64% YoY, with PAT margin at 7.59% (up 89 bps) in FY26.

What to watch

  • Q4 FY26 consolidated raw material cost increased by ~7% due to higher proportion of ice cream sales.
  • Q4 FY26 EBITDA was impacted by a one-time ESOP cost of INR 2.88 crores.
Read the full call →

What Krishival Foods Limited does

Krishival Foods processes and trades cashew kernels and other dry fruit products under its own brand. Through its subsidiary Melt 'N' Mellow Foods Private Limited, it also manufactures and sells ice cream, milk products and bakery products under the 'Melt 'N' Mellow' brand, sold through a network of retail outlets and deep freezers. A second subsidiary, Siddhivinayak Cashew Industries Private Limited, processes raw cashew nuts and related dry fruit products.

Segments

  • Nuts / dry fruits (Krishival Nuts)
  • Ice cream, dairy & bakery (Melt 'N' Mellow)
Nuts processing capacity
~30 tonnes/day (enhanced from 10 to 20 MT/day, plus 10 MT/day from a new unit that commenced production in April 2026)
New nuts processing facility under construction
2 lakh sq ft, Halkarni MIDC
Nuts capacity utilization (FY26)
70%
Ice cream retail outlets served
34,200
Deep freezer network (ice cream)
15,490 (up from 3,000+)
Magic Cones sold (FY26)
4.74 crore units
Founded 2014Headquarters Powai, Mumbai, Maharashtra Company website

Guidance record · Q4 FY26

what the last two calls moved 16 tracked 0 delivered 4 missed 12 open
  • Singapore Export Revenue went quiet said Q2 FY26 Promised: More than 1 million Singapore dollar as a revenue from export in the current financial year. Q4 FY26: No mention of Singapore export revenue in the Q4 FY26 earnings call.
  • Ice Cream Plant Utilization delayed said Q2 FY26 Promised: By March '28 we will be 100% utilization of the ice cream segment. Q4 FY26: Target revised to full capacity utilization by Q1 FY29 (a 1-quarter delay from March '28).
  • Nuts Processing Capacity on track said Q2 FY26 Promised: Quadruple nuts processing capacity to 40 metric ton per day over the next two years. Q4 FY26: Capacity enhanced to 20 MT/day. New 35k sq ft unit commenced April 2026 adding 10 MT. 2 lakh sq ft factory construction ongoing. Target remains 40 MT/day.

All 16 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 79.6%, net profit up 27.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue45 55 74 50 67 +50%74 +36%102 +38%89 +80%
EBITDA6 3 7 5 7 +23%9 +203%5 −18%10 +94%
Net profit5 0 5 4 6 +17%6 +12720%6 +7%6 +27%
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 −4.6% 1Y

₹300₹350₹400₹450₹500Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 17 Nov 2025Q4 FY26 — 8 May 2026

1Y: ₹440 on 10 Sept 2025 → ₹419.95. High ₹502.8 (21 Oct 2025), low ₹309.25 (27 Jan 2026).

How the price took the results

close before → close after

Q4 FY26
0.0%
8 May
Q2 FY26
−3.7%
17 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 grew 44.7% a year over 1 year, FY25 to FY26. Operating margin narrowed to 9.3%.

Year endingFY25FY26
Revenue₹202 Cr₹293 Cr
Operating profit₹21 Cr₹27 Cr
Operating margin10.5%9.3%
Interest₹1 Cr₹3 Cr
Depreciation₹4 Cr₹7 Cr
Net profit₹14 Cr₹22 Cr
Net margin6.7%7.6%
ROCE15.0%16.0%
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₹15 Cr₹20 Cr₹20 Cr₹22 Cr₹22 Cr₹23 Cr
Reserves₹5 Cr₹22 Cr₹45 Cr₹100 Cr₹122 Cr₹169 Cr
Borrowings₹13 Cr₹11 Cr₹10 Cr₹7 Cr₹27 Cr₹36 Cr
Other liabilities₹3 Cr₹1 Cr₹2 Cr₹4 Cr₹27 Cr₹21 Cr
Total liabilities₹36 Cr₹54 Cr₹76 Cr₹132 Cr₹199 Cr₹250 Cr
Fixed assets₹14 Cr₹13 Cr₹15 Cr₹23 Cr₹37 Cr₹55 Cr
Capital work in progress₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹6 Cr₹11 Cr
Investments₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr₹1 Cr
Other assets₹21 Cr₹40 Cr₹61 Cr₹109 Cr₹156 Cr₹184 Cr
Total assets₹36 Cr₹54 Cr₹76 Cr₹132 Cr₹199 Cr₹250 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, DIIs added +3.01 pp while the government trimmed −1.42 pp. The shareholder count grew 62% to 2,046.

Promoters
37.2%
FIIs
0.5%
DIIs
3.0%
Government
9.5%
Public
49.8%

Since Sep 2025

  • DIIs +3.01 pp
  • Government −1.42 pp
  • Public −1.20 pp

How it drifted, 12 quarters

Over this window the government went from 0.0% to 9.5% — +9.5 pp.

Sep '22Mar '25Aug '26

Ownership split by quarter, oldest first. Sep '22: Promoters 41.9%, FIIs 0.1%, Public 58.1%.Mar '23: Promoters 41.9%, Public 58.1%.Sep '23: Promoters 37.2%, FIIs 11.6%, Public 51.3%.Mar '24: Promoters 37.2%, FIIs 11.6%, Public 51.3%.Sep '24: Promoters 37.2%, FIIs 11.8%, Public 51.0%.Mar '25: Promoters 37.2%, FIIs 10.1%, DIIs 1.7%, Public 51.0%.Jun '25: Promoters 37.2%, FIIs 0.9%, DIIs 10.9%, Public 51.0%.Sep '25: Promoters 37.2%, FIIs 0.9%, Government 10.9%, Public 51.0%.Dec '25: Promoters 37.2%, FIIs 0.9%, Government 10.9%, Public 51.0%.Mar '26: Promoters 37.2%, FIIs 0.5%, DIIs 1.3%, Government 9.5%, Public 51.4%.Jun '26: Promoters 37.2%, FIIs 0.5%, DIIs 1.4%, Government 9.5%, Public 51.4%.Aug '26: Promoters 37.2%, FIIs 0.5%, DIIs 3.0%, Government 9.5%, Public 49.8%.

Who was buying across the market this quarter →

Who bought this quarter

since Jun 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 2 off the list — both are in the register beside this.

Who is on the register

Named in the Aug 2026 filing

Every holder of Krishival Foods Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

HolderStakeChange
Aparna Arun Morale 34.85%newly disclosed
Syed Zafar Islam 16.00%unchanged
Enforcement Directorate Raipur 9.50%unchanged
Talisman Securities Pvt.Ltd 4.15%−1.16 pp
Vijayabai Chandrakantrao Mankoskar 3.63%unchanged
Wealthwave Capital Trust-Wealthwave Capital Fund AIF1.57%newly disclosed
India Sme Growth Fund-India Sme Growth Fund-Series 2 Mutual fund1.45%unchanged
Atul Umakant Rege 1.35%unchanged
Nana Prakash Mhaske 1.19%unchanged
Anant Pandurang Kulkarni 1.19%unchanged
Aparna Sujit Bangar —off the list
Sunanda Tarachand Kalekar —off the list

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

Fair

To justify its price of ₹420, this stock must grow earnings at 33% every year for 7 years. Our analysis caps realistic growth at ~32%. At that growth it is worth ₹389 — downside of 7%.

Growth the price implies
33.5% a year
for 7 years, fading to 4%
It has actually compounded at
36.4% a year
net profit, FY25–FY26 · EPS 31.9%
The gap
0.0 pp
-7% downside if it only repeats history
Price today ₹419.95 Value at the reference growth ₹388.72

Change the assumptions yourself →

All earnings calls (2)

Read the Q4 FY26 call →

Learn to analyse Krishival Foods Limited

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