ADF Foods Ltd.

•

₹ 267.60.09%

2026-08-21

adf-foods.comBSE: 519183NSE: ADFFOODS

Market Cap₹ 2,884 Cr.

Current Price₹ 267

High / Low₹ 347 / 153

Stock P/E31.4

Book Value₹ 54

Price to Book3.45

Dividend Yield0.46 %

ROCE22.7 %

ROE16.9 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Processed and Preserved Foods: 85.0% • Agency Distribution Business: 15.0%

PROS

Company is almost debt free
Company has a healthy return on capital (ROCE) of 22.0%
Company has consistently been profitable over the last 5 years
Company comfortably covers its interest (45.5x coverage)
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Though reporting repeated profits, the company pays out little dividend (14.7%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

EDIT COLUMNS

Fast Moving Consumer GoodsFMCGConsumer Food

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name	CMP Rs.	P/E	Mar Cap Rs.Cr.	Div Yld %	NP Qtr Rs.Cr.	Qtr Profit Var %	Sales Qtr Rs.Cr.	Qtr Sales Var %	ROCE %	OPM %
1.	NESTLEIND	1469.90	74.37	283442.92	0.82	9586.80	1382.67	63781.80	1157.04	98.35	23.86
2.	VBL	432.75	43.23	146376.17	0.35	1525.36	15.08	8650.57	20.77	20.73	27.04
3.	BRITANNIA	5410.00	50.04	130309.75	1.67	593.38	14.08	4999.97	10.26	56.48	16.77
4.	JUBLFOOD	495.90	75.40	32721.72	0.24	100.03	6.03	2569.65	13.66	25.56	19.77
5.	HATSUN	931.75	59.58	20754.57	1.72	60.58	—	2363.72	17.61	14.60	10.81
6.	DEVYANI	142.85	0.00	17612.54	0.00	17.10	667.68	1580.52	16.47	8.98	16.09
7.	ZYDUSWELL	492.95	83.34	15683.73	0.24	118.90	-7.04	1437.00	67.54	4.42	16.82
8.	MILKYMIST	199.55	120.95	15362.23	0.00	—	—	—	—	13.79	—
9.	BIKAJI	609.25	59.09	15276.12	0.21	59.47	1.62	734.26	15.26	21.65	13.48
10.	LTFOODS	429.90	23.31	14928.40	0.70	1834.46	988.67	31518.31	1179.20	21.42	11.26
11.	MANORAMA	1924.70	49.26	12149.17	0.04	78.66	67.55	404.01	39.53	19.70	26.29
12.	ADFFOODS	262.55	31.37	2884.47	0.46	17.29	13.38	167.29	25.89	22.70	17.73

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	112	125	130	154	122	161	147	159	133	163	191	197	167
	90	103	103	119	102	134	121	135	109	127	154	162	145
Operating Profit	—	—	—	—	—	—	—	—	—	—	—	—	—
OPM %	—	—	—	—	—	—	—	—	—	—	—	—	—
Other Income	2	3	4	2	5	4	4	2	3	6	3	9	1
Interest	1	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	4	4	4	4	4	5	5	5	5	5	5	6	7
	20	21	26	31	20	26	25	21	21	36	27	36	23
Tax %	27.37%	27.43%	27.03%	19.41%	26.48%	24.72%	24.87%	21.49%	27.76%	25.93%	16.71%	28.99%	26.41%
Net Profit	0	0	0	0	14	20	19	16	15	26	22	26	17
	1	1	2	2	1	2	2	2	1	2	2	2	0
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Equity Capital	22	22	22	22	22	22	22	22	22	22	22	22	22
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Jun 2023

: 112
: 90
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 1
Depreciation: 4
: 20
Tax %: 27.37%
Net Profit: 0
: 1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2023

: 125
: 103
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 1
Depreciation: 4
: 21
Tax %: 27.43%
Net Profit: 0
: 1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2023

: 130
: 103
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 1
Depreciation: 4
: 26
Tax %: 27.03%
Net Profit: 0
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2024

: 154
: 119
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 1
Depreciation: 4
: 31
Tax %: 19.41%
Net Profit: 0
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2024

: 122
: 102
Operating Profit: —
OPM %: —
Other Income: 5
Interest: 1
Depreciation: 4
: 20
Tax %: 26.48%
Net Profit: 14
: 1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2024

: 161
: 134
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 1
Depreciation: 5
: 26
Tax %: 24.72%
Net Profit: 20
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2024

: 147
: 121
Operating Profit: —
OPM %: —
Other Income: 4
Interest: 1
Depreciation: 5
: 25
Tax %: 24.87%
Net Profit: 19
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2025

: 159
: 135
Operating Profit: —
OPM %: —
Other Income: 2
Interest: 1
Depreciation: 5
: 21
Tax %: 21.49%
Net Profit: 16
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2025

: 133
: 109
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 1
Depreciation: 5
: 21
Tax %: 27.76%
Net Profit: 15
: 1
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Sep 2025

: 163
: 127
Operating Profit: —
OPM %: —
Other Income: 6
Interest: 1
Depreciation: 5
: 36
Tax %: 25.93%
Net Profit: 26
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Dec 2025

: 191
: 154
Operating Profit: —
OPM %: —
Other Income: 3
Interest: 1
Depreciation: 5
: 27
Tax %: 16.71%
Net Profit: 22
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Mar 2026

: 197
: 162
Operating Profit: —
OPM %: —
Other Income: 9
Interest: 1
Depreciation: 6
: 36
Tax %: 28.99%
Net Profit: 26
: 2
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Jun 2026

: 167
: 145
Operating Profit: —
OPM %: —
Other Income: 1
Interest: 1
Depreciation: 7
: 23
Tax %: 26.41%
Net Profit: 17
: 0
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%
Equity Capital: 22
Reserves: 0
Promoter Pledge %: 0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	201	201	231	285	370	421	450	520	590	683	718
	179	182	203	232	302	355	370	415	491	553	588
Operating Profit	28	38	43	62	74	76	92	116	112	151	—
OPM %	14	19	19	22	20	18	20	22	19	22	—
Other Income	7	19	14	9	6	9	11	11	14	20	18
Interest	1	1	1	1	1	2	3	2	3	3	3
Depreciation	5	4	4	6	6	9	14	16	18	21	23
	23	32	38	55	67	65	75	98	92	120	122
Tax %	36	44	33	22	25	26	26	25	24	25	25
Net Profit	15	18	25	43	50	49	56	74	69	90	92
EPS	0	0	0	0	24	23	5	7	6	8	—
Dividend Payout %	36	0	0	14	12	17	20	76	19	15	—
Minority Interest	0	0	0	0	0	-0	0	1	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	3	4	5	5	5	7	6	8	—
Minority Interest	0	0	0	0	0	-0	0	1	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	3	4	5	5	5	7	6	8	—

Mar 2017

: 201
: 179
Operating Profit: 28
OPM %: 14
Other Income: 7
Interest: 1
Depreciation: 5
: 23
Tax %: 36
Net Profit: 15
EPS: 0
Dividend Payout %: 36
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2018

: 201
: 182
Operating Profit: 38
OPM %: 19
Other Income: 19
Interest: 1
Depreciation: 4
: 32
Tax %: 44
Net Profit: 18
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2019

: 231
: 203
Operating Profit: 43
OPM %: 19
Other Income: 14
Interest: 1
Depreciation: 4
: 38
Tax %: 33
Net Profit: 25
EPS: 0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 3

Mar 2020

: 285
: 232
Operating Profit: 62
OPM %: 22
Other Income: 9
Interest: 1
Depreciation: 6
: 55
Tax %: 22
Net Profit: 43
EPS: 0
Dividend Payout %: 14
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 4

Mar 2021

: 370
: 302
Operating Profit: 74
OPM %: 20
Other Income: 6
Interest: 1
Depreciation: 6
: 67
Tax %: 25
Net Profit: 50
EPS: 24
Dividend Payout %: 12
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2022

: 421
: 355
Operating Profit: 76
OPM %: 18
Other Income: 9
Interest: 2
Depreciation: 9
: 65
Tax %: 26
Net Profit: 49
EPS: 23
Dividend Payout %: 17
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: -0
Share of Associates: 0
Adjusted EPS: 5

Mar 2023

: 450
: 370
Operating Profit: 92
OPM %: 20
Other Income: 11
Interest: 3
Depreciation: 14
: 75
Tax %: 26
Net Profit: 56
EPS: 5
Dividend Payout %: 20
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 5

Mar 2024

: 520
: 415
Operating Profit: 116
OPM %: 22
Other Income: 11
Interest: 2
Depreciation: 16
: 98
Tax %: 25
Net Profit: 74
EPS: 7
Dividend Payout %: 76
Minority Interest: 1
Share of Associates: 0
Adjusted EPS: 7
Minority Interest: 1
Share of Associates: 0
Adjusted EPS: 7

Mar 2025

: 590
: 491
Operating Profit: 112
OPM %: 19
Other Income: 14
Interest: 3
Depreciation: 18
: 92
Tax %: 24
Net Profit: 69
EPS: 6
Dividend Payout %: 19
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2026

: 683
: 553
Operating Profit: 151
OPM %: 22
Other Income: 20
Interest: 3
Depreciation: 21
: 120
Tax %: 25
Net Profit: 90
EPS: 8
Dividend Payout %: 15
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 8

TTM

: 718
: 588
Operating Profit: —
OPM %: —
Other Income: 18
Interest: 3
Depreciation: 23
: 122
Tax %: 25
Net Profit: 92
EPS: —
Dividend Payout %: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: —

COMPOUNDED SALES GROWTH

10 Years:: 13%
5 Years:: 13%
3 Years:: 15%

COMPOUNDED PROFIT GROWTH

10 Years:: 30%
5 Years:: 12%
3 Years:: 17%

STOCK PRICE CAGR

10 Years:: 27%
5 Years:: 12%
3 Years:: 7%
1 Year:: 16%

RETURN ON EQUITY

10 Years:: 16%
5 Years:: 16%
3 Years:: 16%
Last Year:: 17%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	21	21	20	20	20	21	22	22	22	22
	145	153	151	184	235	313	397	419	470	550
	4	1	0	23	0	5	0	0	0	1
Trade Payables	10	14	14	21	35	32	22	30	45	70
	7	14	8	16	46	98	79	128	81	97
Total Liabilities	188	203	194	264	336	468	520	599	618	740
ASSETS	-	-	-	-	-	-	-	-	-	-
	81	80	69	77	77	160	175	182	186	258
Capital Work in Progress	1	0	1	2	0	0	7	5	19	27
	8	0	0	18	17	39	80	77	61	15
	25	24	35	55	73	76	63	53	90	119
	0	0	0	0	0	0	0	108	117	144
Cash & Bank	14	32	18	37	65	78	63	68	66	72
	59	68	70	75	104	114	132	106	80	105
Total Assets	188	203	194	264	336	468	520	599	618	740
Total Debt	5	1	0	23	0	16	0	0	9	9
Net Working Capital	76	88	93	118	194	244	286	298	326	326
Contingent Liabilities	11	8	9	9	9	9	10	11	12	11
Book Value per Share	78.58	82.08	85.63	101.91	127.60	159.06	190.63	40.12	44.81	52.02
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	2.00	2.00	2.00
Total Debt	5	1	0	23	0	16	0	0	9	9
Net Working Capital	76	88	93	118	194	244	286	298	326	326
Contingent Liabilities	11	8	9	9	9	9	10	11	12	11
Book Value per Share	78.58	82.08	85.63	101.91	127.60	159.06	190.63	40.12	44.81	52.02
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	2.00	2.00	2.00

Mar 2017

Equity Capital: 21
: 145
: 4
Trade Payables: 10
: 7
Total Liabilities: 188
: 81
Capital Work in Progress: 1
: 8
: 25
: 0
Cash & Bank: 14
: 59
Total Assets: 188
Total Debt: 5
Net Working Capital: 76
Contingent Liabilities: 11
Book Value per Share: 78.58
Face Value: 10.00
Total Debt: 5
Net Working Capital: 76
Contingent Liabilities: 11
Book Value per Share: 78.58
Face Value: 10.00

Mar 2018

Equity Capital: 21
: 153
: 1
Trade Payables: 14
: 14
Total Liabilities: 203
: 80
Capital Work in Progress: 0
: 0
: 24
: 0
Cash & Bank: 32
: 68
Total Assets: 203
Total Debt: 1
Net Working Capital: 88
Contingent Liabilities: 8
Book Value per Share: 82.08
Face Value: 10.00
Total Debt: 1
Net Working Capital: 88
Contingent Liabilities: 8
Book Value per Share: 82.08
Face Value: 10.00

Mar 2019

Equity Capital: 20
: 151
: 0
Trade Payables: 14
: 8
Total Liabilities: 194
: 69
Capital Work in Progress: 1
: 0
: 35
: 0
Cash & Bank: 18
: 70
Total Assets: 194
Total Debt: 0
Net Working Capital: 93
Contingent Liabilities: 9
Book Value per Share: 85.63
Face Value: 10.00
Total Debt: 0
Net Working Capital: 93
Contingent Liabilities: 9
Book Value per Share: 85.63
Face Value: 10.00

Mar 2020

Equity Capital: 20
: 184
: 23
Trade Payables: 21
: 16
Total Liabilities: 264
: 77
Capital Work in Progress: 2
: 18
: 55
: 0
Cash & Bank: 37
: 75
Total Assets: 264
Total Debt: 23
Net Working Capital: 118
Contingent Liabilities: 9
Book Value per Share: 101.91
Face Value: 10.00
Total Debt: 23
Net Working Capital: 118
Contingent Liabilities: 9
Book Value per Share: 101.91
Face Value: 10.00

Mar 2021

Equity Capital: 20
: 235
: 0
Trade Payables: 35
: 46
Total Liabilities: 336
: 77
Capital Work in Progress: 0
: 17
: 73
: 0
Cash & Bank: 65
: 104
Total Assets: 336
Total Debt: 0
Net Working Capital: 194
Contingent Liabilities: 9
Book Value per Share: 127.60
Face Value: 10.00
Total Debt: 0
Net Working Capital: 194
Contingent Liabilities: 9
Book Value per Share: 127.60
Face Value: 10.00

Mar 2022

Equity Capital: 21
: 313
: 5
Trade Payables: 32
: 98
Total Liabilities: 468
: 160
Capital Work in Progress: 0
: 39
: 76
: 0
Cash & Bank: 78
: 114
Total Assets: 468
Total Debt: 16
Net Working Capital: 244
Contingent Liabilities: 9
Book Value per Share: 159.06
Face Value: 10.00
Total Debt: 16
Net Working Capital: 244
Contingent Liabilities: 9
Book Value per Share: 159.06
Face Value: 10.00

Mar 2023

Equity Capital: 22
: 397
: 0
Trade Payables: 22
: 79
Total Liabilities: 520
: 175
Capital Work in Progress: 7
: 80
: 63
: 0
Cash & Bank: 63
: 132
Total Assets: 520
Total Debt: 0
Net Working Capital: 286
Contingent Liabilities: 10
Book Value per Share: 190.63
Face Value: 10.00
Total Debt: 0
Net Working Capital: 286
Contingent Liabilities: 10
Book Value per Share: 190.63
Face Value: 10.00

Mar 2024

Equity Capital: 22
: 419
: 0
Trade Payables: 30
: 128
Total Liabilities: 599
: 182
Capital Work in Progress: 5
: 77
: 53
: 108
Cash & Bank: 68
: 106
Total Assets: 599
Total Debt: 0
Net Working Capital: 298
Contingent Liabilities: 11
Book Value per Share: 40.12
Face Value: 2.00
Total Debt: 0
Net Working Capital: 298
Contingent Liabilities: 11
Book Value per Share: 40.12
Face Value: 2.00

Mar 2025

Equity Capital: 22
: 470
: 0
Trade Payables: 45
: 81
Total Liabilities: 618
: 186
Capital Work in Progress: 19
: 61
: 90
: 117
Cash & Bank: 66
: 80
Total Assets: 618
Total Debt: 9
Net Working Capital: 326
Contingent Liabilities: 12
Book Value per Share: 44.81
Face Value: 2.00
Total Debt: 9
Net Working Capital: 326
Contingent Liabilities: 12
Book Value per Share: 44.81
Face Value: 2.00

Mar 2026

Equity Capital: 22
: 550
: 1
Trade Payables: 70
: 97
Total Liabilities: 740
: 258
Capital Work in Progress: 27
: 15
: 119
: 144
Cash & Bank: 72
: 105
Total Assets: 740
Total Debt: 9
Net Working Capital: 326
Contingent Liabilities: 11
Book Value per Share: 52.02
Face Value: 2.00
Total Debt: 9
Net Working Capital: 326
Contingent Liabilities: 11
Book Value per Share: 52.02
Face Value: 2.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	17	24	20	31	36	34	51	70	37	58
Cash from Investing	-1	3	-4	-40	-8	-54	-63	16	-40	-11
Cash from Financing	-12	-11	-32	14	-7	33	-5	-63	-21	-24
	4	16	-17	5	20	13	-17	23	-23	22
Free Cash Flow	17	20	16	15	32	-57	16	48	2	-48
OCF / Net Profit	1.15	1.34	0.77	0.73	0.71	0.70	0.90	0.95	0.54	0.64
Cumulative 5-Year FCF	0	0	0	0	99	25	21	54	41	-39
OCF / Net Profit	1.15	1.34	0.77	0.73	0.71	0.70	0.90	0.95	0.54	0.64
Cumulative 5-Year FCF	0	0	0	0	99	25	21	54	41	-39

Mar 2017

: 17
Cash from Investing: -1
Cash from Financing: -12
: 4
Free Cash Flow: 17
OCF / Net Profit: 1.15
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.15
Cumulative 5-Year FCF: 0

Mar 2018

: 24
Cash from Investing: 3
Cash from Financing: -11
: 16
Free Cash Flow: 20
OCF / Net Profit: 1.34
Cumulative 5-Year FCF: 0
OCF / Net Profit: 1.34
Cumulative 5-Year FCF: 0

Mar 2019

: 20
Cash from Investing: -4
Cash from Financing: -32
: -17
Free Cash Flow: 16
OCF / Net Profit: 0.77
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.77
Cumulative 5-Year FCF: 0

Mar 2020

: 31
Cash from Investing: -40
Cash from Financing: 14
: 5
Free Cash Flow: 15
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.73
Cumulative 5-Year FCF: 0

Mar 2021

: 36
Cash from Investing: -8
Cash from Financing: -7
: 20
Free Cash Flow: 32
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 99
OCF / Net Profit: 0.71
Cumulative 5-Year FCF: 99

Mar 2022

: 34
Cash from Investing: -54
Cash from Financing: 33
: 13
Free Cash Flow: -57
OCF / Net Profit: 0.70
Cumulative 5-Year FCF: 25
OCF / Net Profit: 0.70
Cumulative 5-Year FCF: 25

Mar 2023

: 51
Cash from Investing: -63
Cash from Financing: -5
: -17
Free Cash Flow: 16
OCF / Net Profit: 0.90
Cumulative 5-Year FCF: 21
OCF / Net Profit: 0.90
Cumulative 5-Year FCF: 21

Mar 2024

: 70
Cash from Investing: 16
Cash from Financing: -63
: 23
Free Cash Flow: 48
OCF / Net Profit: 0.95
Cumulative 5-Year FCF: 54
OCF / Net Profit: 0.95
Cumulative 5-Year FCF: 54

Mar 2025

: 37
Cash from Investing: -40
Cash from Financing: -21
: -23
Free Cash Flow: 2
OCF / Net Profit: 0.54
Cumulative 5-Year FCF: 41
OCF / Net Profit: 0.54
Cumulative 5-Year FCF: 41

Mar 2026

: 58
Cash from Investing: -11
Cash from Financing: -24
: 22
Free Cash Flow: -48
OCF / Net Profit: 0.64
Cumulative 5-Year FCF: -39
OCF / Net Profit: 0.64
Cumulative 5-Year FCF: -39

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE	-	-	-	-	-	-	-	-	-	-
EPS (₹)	6.88	8.52	12.65	21.36	25.01	22.94	25.53	6.85	6.30	8.19
Book Value (₹)	78.58	82.08	85.63	101.91	127.60	159.06	190.63	40.12	44.81	52.02
Dividend per Share (₹)	2.50	0.00	0.00	3.00	3.00	4.00	5.00	5.20	1.20	1.20
Cash EPS (₹)	1.81	2.12	2.96	4.82	5.59	5.49	6.33	8.14	7.96	10.11
PROFITABILITY	-	-	-	-	-	-	-	-	-	-
Operating Margin %	14.04%	18.70%	18.54%	21.80%	19.95%	18.05%	20.40%	20.16%	16.68%	19.12%
Net Margin %	7.25%	8.99%	10.95%	15.00%	13.54%	11.52%	12.40%	14.18%	11.75%	13.16%
ROE %	8.98%	10.61%	14.67%	22.78%	21.79%	16.48%	14.85%	17.17%	14.85%	16.91%
ROCE %	14.08%	19.10%	22.21%	28.20%	27.09%	21.18%	20.09%	23.34%	19.98%	22.70%
	7.47%	9.23%	12.76%	18.68%	16.67%	12.07%	11.30%	13.19%	11.38%	13.24%
EFFICIENCY	-	-	-	-	-	-	-	-	-	-
Debtor Days	64	70	68	62	58	59	67	71	70	70
Inventory Days	45	44	46	57	63	65	56	41	44	56
Payable Days	44	48	52	51	55	68	56	55	69	94
	65	66	62	68	66	56	67	57	45	32
FINANCIAL HEALTH	-	-	-	-	-	-	-	-	-	-
Debt to Equity (x)	0.03x	0.01x	0.00x	0.11x	0.00x	0.05x	0.00x	0.00x	0.02x	0.02x
Interest Coverage (x)	25.05x	29.45x	44.35x	42.21x	58.52x	37.00x	29.45x	42.98x	36.56x	45.45x
	4.43x	4.06x	5.16x	3.01x	4.35x	5.36x	7.66x	6.67x	5.71x	3.84x
GROWTH	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-4.21%	0.03%	15.20%	23.23%	29.67%	13.89%	6.90%	15.56%	13.31%	15.88%
Operating Profit Growth %	16.87%	33.12%	14.15%	44.88%	18.64%	3.07%	20.81%	26.29%	-3.08%	34.10%
Net Profit Growth %	120.78%	23.89%	40.18%	68.84%	17.05%	-3.09%	15.11%	32.11%	-6.14%	29.84%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-73.16%	-8.01%	29.84%
VALUATION	-	-	-	-	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	26.99x	37.33x	21.95x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.61x	5.25x	3.45x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	2.81%	0.51%	0.67%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	16.93x	22.49x	12.67x

Mar 2017

EPS (₹): 6.88
Book Value (₹): 78.58
Dividend per Share (₹): 2.50
Cash EPS (₹): 1.81
Operating Margin %: 14.04%
Net Margin %: 7.25%
ROE %: 8.98%
ROCE %: 14.08%
: 7.47%
Debtor Days: 64
Inventory Days: 45
Payable Days: 44
: 65
Debt to Equity (x): 0.03x
Interest Coverage (x): 25.05x
: 4.43x
Revenue Growth %: -4.21%
Operating Profit Growth %: 16.87%
Net Profit Growth %: 120.78%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2018

EPS (₹): 8.52
Book Value (₹): 82.08
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.12
Operating Margin %: 18.70%
Net Margin %: 8.99%
ROE %: 10.61%
ROCE %: 19.10%
: 9.23%
Debtor Days: 70
Inventory Days: 44
Payable Days: 48
: 66
Debt to Equity (x): 0.01x
Interest Coverage (x): 29.45x
: 4.06x
Revenue Growth %: 0.03%
Operating Profit Growth %: 33.12%
Net Profit Growth %: 23.89%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2019

EPS (₹): 12.65
Book Value (₹): 85.63
Dividend per Share (₹): 0.00
Cash EPS (₹): 2.96
Operating Margin %: 18.54%
Net Margin %: 10.95%
ROE %: 14.67%
ROCE %: 22.21%
: 12.76%
Debtor Days: 68
Inventory Days: 46
Payable Days: 52
: 62
Debt to Equity (x): 0.00x
Interest Coverage (x): 44.35x
: 5.16x
Revenue Growth %: 15.20%
Operating Profit Growth %: 14.15%
Net Profit Growth %: 40.18%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2020

EPS (₹): 21.36
Book Value (₹): 101.91
Dividend per Share (₹): 3.00
Cash EPS (₹): 4.82
Operating Margin %: 21.80%
Net Margin %: 15.00%
ROE %: 22.78%
ROCE %: 28.20%
: 18.68%
Debtor Days: 62
Inventory Days: 57
Payable Days: 51
: 68
Debt to Equity (x): 0.11x
Interest Coverage (x): 42.21x
: 3.01x
Revenue Growth %: 23.23%
Operating Profit Growth %: 44.88%
Net Profit Growth %: 68.84%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 25.01
Book Value (₹): 127.60
Dividend per Share (₹): 3.00
Cash EPS (₹): 5.59
Operating Margin %: 19.95%
Net Margin %: 13.54%
ROE %: 21.79%
ROCE %: 27.09%
: 16.67%
Debtor Days: 58
Inventory Days: 63
Payable Days: 55
: 66
Debt to Equity (x): 0.00x
Interest Coverage (x): 58.52x
: 4.35x
Revenue Growth %: 29.67%
Operating Profit Growth %: 18.64%
Net Profit Growth %: 17.05%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 22.94
Book Value (₹): 159.06
Dividend per Share (₹): 4.00
Cash EPS (₹): 5.49
Operating Margin %: 18.05%
Net Margin %: 11.52%
ROE %: 16.48%
ROCE %: 21.18%
: 12.07%
Debtor Days: 59
Inventory Days: 65
Payable Days: 68
: 56
Debt to Equity (x): 0.05x
Interest Coverage (x): 37.00x
: 5.36x
Revenue Growth %: 13.89%
Operating Profit Growth %: 3.07%
Net Profit Growth %: -3.09%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 25.53
Book Value (₹): 190.63
Dividend per Share (₹): 5.00
Cash EPS (₹): 6.33
Operating Margin %: 20.40%
Net Margin %: 12.40%
ROE %: 14.85%
ROCE %: 20.09%
: 11.30%
Debtor Days: 67
Inventory Days: 56
Payable Days: 56
: 67
Debt to Equity (x): 0.00x
Interest Coverage (x): 29.45x
: 7.66x
Revenue Growth %: 6.90%
Operating Profit Growth %: 20.81%
Net Profit Growth %: 15.11%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 6.85
Book Value (₹): 40.12
Dividend per Share (₹): 5.20
Cash EPS (₹): 8.14
Operating Margin %: 20.16%
Net Margin %: 14.18%
ROE %: 17.17%
ROCE %: 23.34%
: 13.19%
Debtor Days: 71
Inventory Days: 41
Payable Days: 55
: 57
Debt to Equity (x): 0.00x
Interest Coverage (x): 42.98x
: 6.67x
Revenue Growth %: 15.56%
Operating Profit Growth %: 26.29%
Net Profit Growth %: 32.11%
: -73.16%
P/E (x): 26.99x
P/B (x): 4.61x
Dividend Yield %: 2.81%
: 16.93x

Mar 2025

EPS (₹): 6.30
Book Value (₹): 44.81
Dividend per Share (₹): 1.20
Cash EPS (₹): 7.96
Operating Margin %: 16.68%
Net Margin %: 11.75%
ROE %: 14.85%
ROCE %: 19.98%
: 11.38%
Debtor Days: 70
Inventory Days: 44
Payable Days: 69
: 45
Debt to Equity (x): 0.02x
Interest Coverage (x): 36.56x
: 5.71x
Revenue Growth %: 13.31%
Operating Profit Growth %: -3.08%
Net Profit Growth %: -6.14%
: -8.01%
P/E (x): 37.33x
P/B (x): 5.25x
Dividend Yield %: 0.51%
: 22.49x

Mar 2026

EPS (₹): 8.19
Book Value (₹): 52.02
Dividend per Share (₹): 1.20
Cash EPS (₹): 10.11
Operating Margin %: 19.12%
Net Margin %: 13.16%
ROE %: 16.91%
ROCE %: 22.70%
: 13.24%
Debtor Days: 70
Inventory Days: 56
Payable Days: 94
: 32
Debt to Equity (x): 0.02x
Interest Coverage (x): 45.45x
: 3.84x
Revenue Growth %: 15.88%
Operating Profit Growth %: 34.10%
Net Profit Growth %: 29.84%
: 29.84%
P/E (x): 21.95x
P/B (x): 3.45x
Dividend Yield %: 0.67%
: 12.67x

Shareholding Pattern

Numbers in percentages

TRADES

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	36.33	36.17	36.13	36.13	36.13	36.13	36.13	36.13	36.13
	9.50	9.54	10.05	9.83	11.28	11.29	11.30	11.54	11.58
	8.65	8.81	8.82	8.82	7.71	7.71	7.72	7.77	6.98
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	45.51	45.47	44.98	45.19	44.86	44.85	44.84	44.54	45.29

Jun 2024

: 36.33
: 9.50
: 8.65
Government: 0.00
: 45.51

Sep 2024

: 36.17
: 9.54
: 8.81
Government: 0.00
: 45.47

Dec 2024

: 36.13
: 10.05
: 8.82
Government: 0.00
: 44.98

Mar 2025

: 36.13
: 9.83
: 8.82
Government: 0.00
: 45.19

Jun 2025

: 36.13
: 11.28
: 7.71
Government: 0.00
: 44.86

Sep 2025

: 36.13
: 11.29
: 7.71
Government: 0.00
: 44.85

Dec 2025

: 36.13
: 11.30
: 7.72
Government: 0.00
: 44.84

Mar 2026

: 36.13
: 11.54
: 7.77
Government: 0.00
: 44.54

Jun 2026

: 36.13
: 11.58
: 6.98
Government: 0.00
: 45.29

Documents

Announcements

Copy of Newspaper Publication
2026-08-18 - Intimation under Regulation 30 & 47 of SEBI (LODR) Regulations, 2015 w.r.t. newspaper publication regarding opening of Special Window for transfer and dematerialisation of physical shares.
Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company
2026-08-14 - Intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 - Update on Litigation.

Annual Reports

Credit Ratings

Credit Rating- Revision
2026-08-11 - Intimation pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015 w.r.t. Credit Rating.
Credit Rating
2026-07-31 - ADF Foods Limited has informed the Exchange about Credit Rating

Concalls

Aug 2026
TranscriptPPTREC
Jul 2026
TranscriptPPTREC
May 2026
Transcript PPTREC