Packaged Foods company ADF Foods announced Q2FY26 results Consolidated revenue in Q2FY26 grew by 0.8% YoY to Rs 162.6 crore Consolidated EBITDA increased by 29.1% to Rs 35.8 crore, with a margin of 22.0%. Consolidated PAT increased by 34.2% to Rs 26.4 crore, with a margin of 16.2%. Interim dividend of Rs 0.60 per share (30% of face value) was declared. Bimal Thakkar, Chairman & Managing Director said: Key Financial and Operational Updates: “In Q2FY26, our standalone revenue increased by approximately 12% year-on-year to Rs 140.1 crore, despite continued uncertainty around US tariffs. The quarter witnessed steady progress in market penetration for the Ashoka and Truly Indian brands, alongside the addition of new product listings in key retail outlets such as Costco. Standalone and consolidated PAT increased by 39.1% and 34.2% to Rs 29.7 crore and Rs 26.4 crore, respectively, supported by a better product mix, prudent cost optimisation and foreign exchange gains. These results reflect healthy net margins of 21.2% and 16.2% respectively, indicating improved operational efficiency. Our flagship brand Ashoka underwent a vibrant brand refresh that reflects its bold flavours and proud Desi identity. Meanwhile, our Truly Indian brand adopted a fresh new identity, inspired by the rich colours and lively street-style spirit of India. The expansion of the Surat Greenfield facility is nearing completion and remains on schedule to commence operations in the second half of FY26. We are seeing continued traction for our brands led by increased store penetration and geographic expansion. Our continued focus on disciplined execution and operational excellence makes us confident of sustaining the current growth rate in the long term.” Result PDF
Packaged Foods company ADF Foods announced Q1FY26 results Q1FY26 Consolidated Financial Highlights: In Q1FY26, on a consolidated basis revenue grew by 9.3% YoY to Rs 132.9 crore. EBITDA stood at Rs 23.5 crore, with margin of 17.7%. PAT stood at Rs 15.2 crore at a margin of 11.5%. Q1FY26 Standalone Financial Highlights: Standalone Revenue for the quarter was Rs 100.3 crore registering a growth of 3.4% on a YoY basis. EBITDA stood at Rs 22.5 crore, with margin of 22.4%. PAT stood at Rs 17.0 crore at a margin of 16.9%. Bimal Thakkar, Chairman & Managing Director, said: Key Financial and Operational Updates: “In Q1FY26, our consolidated revenue rose by around 10% YoY to Rs 132.9 crore even as we faced global economic uncertainties, tariffs and seasonal fluctuations. Consolidated EBITDA stood at Rs 23.5 crore, reflecting a healthy margin of 17.7% despite ongoing brand investments, and rising input costs. These challenges were effectively mitigated through disciplined cost management and enhanced operational efficiencies. The strategic reorganization of our sales team in the USA and the formation of a new team in Australia in previous quarters have started to yield positive outcomes in terms of new listings. We expect this to result in revenue growth in the coming quarters. We successfully completed a brand refresh for Truly Indian and showcased the updated identity at a prominent food exhibition, receiving encouraging feedback from the trade as well as the consumers. With the refreshed packaging set to roll out in Q3FY26, we anticipate further momentum and increased brand traction. The expansion of the Surat Greenfield facility is progressing as planned and is on track to begin operations in the second half of FY26. Looking ahead, we remain cautiously optimistic of sustaining our growth trajectory in the current financial year amidst global economic uncertainties and tariffs and expect to achieve meaningful scale across all business segments.” Result PDF
Packaged Foods company ADF Foods announced Q4FY25 & FY25 results Consolidated Q4FY25 Financial Highlights: In Q4FY25, on a consolidated basis revenue grew by 3.5% YoY to Rs 159.1 crore. EBITDA stood at Rs 24.6 crore, with margin of 15.5% PAT stood at Rs 16.4 crore at a margin of 10.3%. Consolidated FY25 Financial Highlights: Consolidated Revenue for FY25 stood at Rs 589.6 crore with growth of 13.3% YoY PAT stood at Rs 69.2 crore on a consolidated basis, a decrease of 6.2% YoY The Board recommended final dividend of 30% making the total dividend amounting to 60% for FY25 Standalone Q4FY25 Financial Highlights: Standalone Revenue for the quarter was Rs 134.6 crore registering a growth of 4.4% on a YoY basis. EBITDA stood at Rs 29.2 crore, with margin of 21.7%. PAT stood at Rs 21.5 crore at a margin of 15.9% Standalone FY25 Financial Highlights: Standalone Revenue registered a growth of 15.5% YoY with Rs 478.4 crore Standalone PAT increased by 0.7% standing at Rs 80.2 crore. Commenting on the Results, Mr. Bimal Thakkar – Chairman & Managing Director said, “For FY25, our consolidated revenue increased by 13.3% to Rs 589.6 crore compared to FY24. Our consolidated EBITDA stood at Rs 98.3 crore, with a margin of 16.7%. This was achieved despite facing challenges from rising raw material, freight, and labour costs, along with increased expenditures in branding and marketing. These challenges were effectively managed through stringent cost control measures and improved process efficiencies. Throughout the year, our flagship brand Ashoka demonstrated steady growth, performing notably well in markets other than the USA. We reorganized our sales teams in the USA and also established a new team in Australia to further enhance the Ashoka narrative. The Truly Indian brand delivered strong results as anticipated, bolstered by new listings. A refresh of the Truly Indian brand is underway, introducing a vibrant new visual identity. The brand obtained new listings in Safeway and Albertsons, bringing the total number of stores in the USA to over 1,400. Additionally, we launched the Frozen range in our India-focused ADF SOUL brand, which is present in the quick commerce sector and select modern trade outlets. In our agency distribution business, we secured distribution rights of Lipton Tea brands for the West Coast of the USA, expanding our operations from the East Coast to cover the nationwide US market. The expansion of the Surat Greenfield facility is progressing well and is expected to commence operations in the second half of FY26. Looking ahead, we expect robust growth momentum in the current financial year and anticipate generating sustained momentum in the coming year.” Result PDF
Conference Call with ADF Foods Management and Analysts on Q3FY25 Performance and Outlook. Listen to the full earnings transcript.
Packaged Foods company ADF Foods announced Q3FY25 results Revenue from Operations: Rs 147.5 crore compared to Rs 129.7 crore during Q3FY24, change 13.8%. EBITDA: Rs 26.4 crore compared to Rs 27.0 crore during Q3FY24, change -2.2. EBITDA margin: 17.9% for Q3FY25. PAT: Rs 18.8 crore compared to Rs 19.1 crore during Q3FY24, change -1.8. PAT margin: 12.7% for Q3FY25. Bimal Thakkar, Chairman & Managing Director, said: “Our consolidated revenue grew by 13.8% to Rs 147.5 crore on YoY basis, driven by secular demand across all our brands and businesses. We sustained EBITDA margins in the high teens despite ongoing investments in brand development and strengthening of management bandwidth, increase in raw material and freight costs. Stringent cost control measures, process efficiencies, and rupee depreciation helped minimize the margin impact. Our strategy to broaden the reach of the India-focused ADF SOUL brand is advancing as scheduled. We have established a presence in the quick commerce market. Additionally, we also expanded into select modern trade outlets of Nature’s Basket, Reliance Fresh Signature, Haiko supermarket, Food Square, Dorabjee’s and DMart in the Mumbai and Pune region. Our cold storage facility at Nadiad became operational in the current quarter. This enhances our supply chain capabilities with respect to finished goods storage and the facility is now geared to optimise resources, better planning and order fulfilment. Overall our core business continues to grow at a consistent pace and our investments in ADF SOUL and Truly Indian brands should start generating momentum over the medium to long term.” Result PDF
Packaged Foods company ADF Foods announced Q2FY25 results Financial Highlights: Standalone Revenue for the quarter was Rs 125.6 crore registering a growth of 29.1% on a YoY basis. EBITDA stood at Rs 27.7 crore, with margin of 22.3%. PAT grew on a yearly basis by 20.6% to reach Rs 21.4 crore at a margin of 17.0%. In Q1FY25, on a consolidated basis revenue grew by 29.5% YoY to Rs 161.4 crore. EBITDA stood at Rs 27.7 crore, with margin of 17.2%. PAT stood at Rs 19.7 crore at a margin of 12.2%. For H1FY25, standalone and consolidated revenue registered a growth of 22.4% YoY and 19.4% YoY to reach Rs 222.7 crore. and Rs 283.0 crore. Standalone PAT increased by 13.0% standing at Rs 38.5 crore. The same was Rs 34.1 crore on a consolidated basis thus growing at 14.8% YoY. Interim Dividend of Rs 0.60 per share (30% of face value) was declared. Operational Highlights: Acquired balance 30% stake in Vibrant Foods New Jersey LLC. This will enable long term value unlocking through focused support and involvement at an operational level through sustained investments, strategic oversight and cost efficiencies which will be led by the Company at the helm. Bimal Thakkar, Chairman & Managing Director said: “Our consolidated revenue grew by 29.5% to Rs 161.4 crore on YoY basis, driven by strong demand across all our brands, with our flagship brand, Ashoka, achieving deeper market penetration. The US expansion of our Truly Indian brand has seen good acceptance in its initial stages. It has seen good success in terms of listings in prestigious accounts including Whole Foods, Stop & Shop and Raley’s, as well as online platforms. We expect this customer engagement to gain greater momentum in the forthcoming quarters. Our India-focused ADF SOUL brand expansion is progressing according to plan. We have made inroads in the quick commerce segment. Additionally, we are preparing for a strategic push into select modern trade channels, expected to stimulate the market in the second half of FY25. Our core business continues to achieve double-digit growth, and we plan to invest further in both the ADF SOUL and Truly Indian brands. We anticipate these investments will generate returns in the future. Overall, we are enthusiastic about our business’s growth potential and remain committed to achieving sustainable and robust progress in the coming years.” Result PDF
Packaged Foods company ADF Foods announced Q1FY25 results: Financial Highlights: Standalone Revenue for the quarter was Rs 97.0 crore registering a growth of 14.7% on a YoY basis. EBITDA stood at Rs 22.8 crore, with margin of 23.4%. PAT grew on a yearly basis by 4.6% to reach Rs 17.1 crore at a margin of 17.7% In Q1 FY25, on a consolidated basis revenue grew by 8.1% YoY to Rs 121.6 crore. EBITDA stood at Rs 19.6 crore, with margin of 16.1%. PAT stood at Rs 14.4 crore at a margin of 11.8% Operational Highlights: The flagship brand ‘Ashoka’ saw continued addition of new products as well as increased penetration in existing markets. The Company’s India focused ‘SOUL’ brand is doing a strategic expansion into additional quick commerce chains & modern trade, set to energize the market in second half of FY25. ‘Truly Indian’ brand – It has been recently listed in various supermarkets in the US and is available online on Amazon as well. It expanded into new product categories including frozen breads, snacks, wraps, Ready To Eat curries and rice. Commenting on the Results, Bimal Thakkar – Chairman & Managing Director said, “Our consolidated revenues increased by 8.1% to Rs 121.5 crore on a YoY basis. We consider this as a decent growth despite lost sales in June due to unavailability of containers. We generally see the Q1 as a seasonally stable quarter, with growth picking up in H2 of the financial year. We continue to witness strong demand across all our brands. Our flagship brand, Ashoka, saw continued addition of new products as well as increased penetration in existing markets. Our India focused ‘SOUL brand’ expansion is going as per plan and seeing traction. Further, we are gearing up for a strategic expansion into additional quick commerce chains & modern trade, set to energize the market in second half of FY25. Our global mainstream ‘Truly Indian’ brand expansion is on schedule and seeing increasing engagement amongst customers. It has been newly listed in several supermarkets as well as in the online format. It expanded into new product categories including frozen breads, snacks, wraps, Ready To Eat curries and rice. The core business continues to grow in double digits and we will make investments in our SOUL brand as well as the Truly Indian brand. We expect these investments to yield returns in the future. Overall, we are excited about the future potential of our business and remain focused to achieving robust and enduring growth going forward.” Result PDF