SUNDROP
Sundrop Brands share price & financials
- Price
- ₹653.55
- Market cap
- ₹2.5k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 8
Sundrop Brands Limited Q1 FY27
What went well
- Consolidated revenue grew by 15% YoY, with sequential growth of 11% over last quarter.
- Gross margins improved by 110 basis points, and EBITDA margins remained stable at 7% (normalized net of ESOP costs) despite an inflationary environment.
- E-commerce channel demonstrated strong growth of 32%, while the B2B business grew by 18%.
What to watch
- The Peanut Butter segment continued to decline by 3% this quarter, following an 8-10% decline last year, due to market shifts and competition.
- The company acknowledged a highly inflationary environment for commodities and packaging materials, requiring active management of pricing.
What Sundrop Brands Limited does
Sundrop Brands Limited (formerly Agro Tech Foods Limited) is an Indian packaged-foods company that makes and markets branded snacks, spreads, breakfast cereals/oats and edible oils under the Sundrop and Act II brands. Following its February 2025 acquisition of Del Monte Foods Private Limited (now a wholly owned subsidiary), it also makes culinary products (ketchups, sauces, mayonnaise) and an Italian range (olive oil, pasta, canned fruits and vegetables) under the Del Monte brand. It earns money by selling these packaged foods through general trade, modern trade, e-commerce/quick-commerce, food service and export channels via a distributed in-house manufacturing and supply-chain network across India. The company holds leadership or dominant market-share positions in categories it pioneered in India, including Ready-to-Cook and Ready-to-Eat popcorn and peanut-butter spreads.
Segments
- Sundrop
- Del Monte
- Direct retail outlet coverage
- ~4.5-5 lakh outlets directly reached, out of a total potential of ~1 million outlets
- Market position - Popcorn (Ready-to-Cook & Ready-to-Eat)
- #1 player nationally in both formats
- Market position - Peanut Butter
- Category pioneer in India; holds a leadership/dominant market-share position
- Key subsidiary
- Del Monte Foods Private Limited (wholly owned, acquired Feb 2025), with step-down subsidiary Delmonte Foods India (North) Private Limited
- New product launches (FY26)
- 70+ new SKUs launched across the Act II, Sundrop and Del Monte portfolios
- Sales channels
- General trade, modern trade, e-commerce/quick-commerce, food service, and exports (including Middle East)
Guidance record · Q1 FY27
what the last two calls moved 25 tracked 2 delivered 4 missed 19 open- Sales Force Automation Coverage delivered said Q3 FY26 Promised: Achieve SFA coverage of 375,000 outlets by end of FY26 Q1 FY27: This promise was achieved in the previous quarter. No new updates.
- Overall Company Growth missed said Q3 FY24 Promised: Achieve 16-18% overall company growth Q1 FY27: This promise for a past period remains definitively missed. No new information alters this.
- EBITDA Margin delayed said Q2 FY25 Promised: Achieve double-digit EBITDA margin Q1 FY27: Management provided a more specific target of 12% EBITDA margin, but delayed the timeline from 'by FY29' to 'by FY30' (within 3 years from the call date).
All 25 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 15.1%, net profit up 200.0% 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 | 206 | 208 | 304 | 372 | 383 +86% | 407 +96% | 387 +27% | 428 +15% |
| EBITDA | 6 | 14 | 0 | 14 | 4 −33% | 20 +43% | 21 | 25 +79% |
| Net profit | 0 | 4 | -114 | 4 | -2 | 8 +100% | 10 +109% | 12 +200% |
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 −17.6% 1Y
1Y: ₹802.95 on 10 Sept 2025 → ₹662. High ₹847.6 (17 Sept 2025), low ₹560.85 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- +2.6%
- 7 Aug
- Q4 FY26
- +0.0%
- 8 May
- Q3 FY26
- +2.1%
- 13 Feb
- Q2 FY26
- −2.8%
- 13 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 22.2% a year over 3 years, FY23 to FY26. Operating margin narrowed to 3.8%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹849 Cr | ₹759 Cr | ₹899 Cr | ₹1.5k Cr |
| Operating profit | ₹45 Cr | ₹34 Cr | ₹26 Cr | ₹59 Cr |
| Operating margin | 5.3% | 4.5% | 2.9% | 3.8% |
| Interest | ₹3 Cr | ₹2 Cr | ₹1 Cr | ₹1 Cr |
| Depreciation | ₹22 Cr | ₹20 Cr | ₹26 Cr | ₹33 Cr |
| Net profit | ₹15 Cr | ₹11 Cr | ₹-110 Cr | ₹20 Cr |
| Net margin | 1.8% | 1.4% | -12.2% | 1.3% |
| Cash from operations | ₹22 Cr | ₹63 Cr | ₹84 Cr | ₹31 Cr |
| Free cash flow | ₹-19 Cr | ₹26 Cr | ₹63 Cr | ₹13 Cr |
| ROCE | 5.0% | 3.0% | 0.0% | 2.0% |
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 ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹38 Cr | ₹38 Cr |
| Reserves | ₹412 Cr | ₹438 Cr | ₹462 Cr | ₹476 Cr | ₹1.4k Cr | ₹1.4k Cr |
| Borrowings | ₹14 Cr | ₹50 Cr | ₹62 Cr | ₹42 Cr | ₹13 Cr | ₹13 Cr |
| Other liabilities | ₹93 Cr | ₹104 Cr | ₹88 Cr | ₹98 Cr | ₹353 Cr | ₹277 Cr |
| Total liabilities | ₹543 Cr | ₹616 Cr | ₹636 Cr | ₹641 Cr | ₹1.8k Cr | ₹1.8k Cr |
| Fixed assets | ₹295 Cr | ₹301 Cr | ₹305 Cr | ₹320 Cr | ₹1.3k Cr | ₹1.3k Cr |
| Capital work in progress | ₹8 Cr | ₹11 Cr | ₹26 Cr | ₹30 Cr | ₹3 Cr | ₹2 Cr |
| Investments | ₹6 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹9 Cr | ₹18 Cr |
| Other assets | ₹235 Cr | ₹304 Cr | ₹305 Cr | ₹291 Cr | ₹516 Cr | ₹463 Cr |
| Total assets | ₹543 Cr | ₹616 Cr | ₹636 Cr | ₹641 Cr | ₹1.8k Cr | ₹1.8k 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, the public trimmed −10.24 pp while promoters added +9.98 pp. The shareholder count shrank 4% to 14,778.
- Promoters
- 43.9%
- FIIs
- 0.2%
- DIIs
- 5.8%
- Public
- 50.1%
Since Jun 2025
- Public −10.24 pp
- Promoters +9.98 pp
- DIIs +0.63 pp
How it drifted, 12 quarters
Over this window the public went from 29.1% to 50.1% — +21.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.8%, FIIs 7.8%, DIIs 10.8%, Public 29.1%, Others 0.5%.Dec '23: Promoters 51.8%, FIIs 7.9%, DIIs 11.3%, Public 28.6%, Others 0.4%.Mar '24: Promoters 51.8%, FIIs 7.8%, DIIs 11.3%, Public 29.1%.Jun '24: Promoters 51.8%, FIIs 0.7%, DIIs 7.9%, Public 39.6%.Sep '24: Promoters 51.8%, FIIs 0.8%, DIIs 7.9%, Public 39.5%.Dec '24: Promoters 51.8%, FIIs 1.3%, DIIs 7.9%, Public 39.0%.Mar '25: Promoters 33.9%, FIIs 0.6%, DIIs 5.1%, Public 60.4%.Jun '25: Promoters 33.9%, FIIs 0.6%, DIIs 5.2%, Public 60.4%.Sep '25: Promoters 33.9%, FIIs 0.6%, DIIs 5.3%, Public 60.2%.Dec '25: Promoters 38.9%, FIIs 0.4%, DIIs 5.3%, Public 55.4%.Mar '26: Promoters 38.9%, FIIs 0.2%, DIIs 5.5%, Public 55.3%.Jun '26: Promoters 43.9%, FIIs 0.2%, DIIs 5.8%, Public 50.1%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Cag-Tech (Mauritius) Limited +4.99 pp 43.90% held
- Rekha Jhunjhunwala newly disclosed 2.69% held
The same filing shows 3 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Sundrop Brands Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Cag-Tech (Mauritius) Limited | 43.90% | +4.99 pp |
| Bharti Overseas Private Limited | 18.30% | unchanged |
| Tata Mutual Fund- Tata Small Cap Fund Mutual fund | 4.73% | unchanged |
| Dmpl India Limited | 2.96% | −4.99 pp |
| Rekha Jhunjhunwala | 2.69% | newly disclosed |
| Rekha Jhunjhunwala - 2 | 2.25% | −0.44 pp |
| Bharti Satya Trustees Private Limited | 2.03% | unchanged |
| Viral Amal Parikh | 1.58% | unchanged |
| Elpro International Limited | 1.48% | unchanged |
| M3 Investment Private Limited | 1.22% | −0.59 pp |
| Zest Investments Limited | 0.00% | 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 (8)
Read the Q1 FY27 call →Learn to analyse Sundrop Brands Limited
Guides on how to read this kind of business and the numbers that matter.