Srivari Spices & Foods Ltd.

•

₹ 230-4.17%

2026-08-21

srivarispices.comBSE: -NSE: SSFL

Market Cap₹ 198 Cr.

Current Price₹ 213

High / Low₹ 295 / 86

Stock P/E0.0

Book Value₹ 68

Price to Book2.20

Dividend Yield0.22 %

ROCE27.9 %

ROE23.5 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 36.6%
Company has a healthy return on capital (ROCE) of 33.0%
Operating margins have improved to 16.4% from 9.3%
Company comfortably covers its interest (6.7x coverage)
Company maintains a comfortable, low leverage position

CONS

Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.14x)
Equity base is being diluted - shares outstanding up 113.0%
Free cash flow has been persistently negative

* 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	171.04	7576.84	15805.16	1064.74	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	183.45	8.87	3151.83	27.92	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.	SSFL	230.80	12.18	197.80	0.22	—	—	—	—	27.65	—

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

No standalone quarterly results found

We don't have this information yet. Please check back later.

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	11	18	36	78	112
	0	11	16	30	66	94
Operating Profit	-0	1	2	6	13	18
OPM %	-45	7	9	16	16	16
Other Income	0	0	0	0	0	0
Interest	0	0	0	1	2	2
Depreciation	0	0	1	1	1	2
	-0	0	1	4	10	14
Tax %	26	26	28	27	30	31
Net Profit	-0	0	1	3	7	10
EPS	-1	2	2	7	10	11
Dividend Payout %	0	0	0	0	0	4
Minority Interest	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0
Adjusted EPS	-1	1	2	6	10	11
Minority Interest	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0
Adjusted EPS	-1	1	2	6	10	11

Mar 2020

: 0
: 0
Operating Profit: -0
OPM %: -45
Other Income: 0
Interest: 0
Depreciation: 0
: -0
Tax %: 26
Net Profit: -0
EPS: -1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -1

Mar 2021

: 11
: 11
Operating Profit: 1
OPM %: 7
Other Income: 0
Interest: 0
Depreciation: 0
: 0
Tax %: 26
Net Profit: 0
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 1

Mar 2022

: 18
: 16
Operating Profit: 2
OPM %: 9
Other Income: 0
Interest: 0
Depreciation: 1
: 1
Tax %: 28
Net Profit: 1
EPS: 2
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 2

Mar 2023

: 36
: 30
Operating Profit: 6
OPM %: 16
Other Income: 0
Interest: 1
Depreciation: 1
: 4
Tax %: 27
Net Profit: 3
EPS: 7
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 6

Mar 2024

: 78
: 66
Operating Profit: 13
OPM %: 16
Other Income: 0
Interest: 2
Depreciation: 1
: 10
Tax %: 30
Net Profit: 7
EPS: 10
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 10

Mar 2025

: 112
: 94
Operating Profit: 18
OPM %: 16
Other Income: 0
Interest: 2
Depreciation: 2
: 14
Tax %: 31
Net Profit: 10
EPS: 11
Dividend Payout %: 4
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: 11

COMPOUNDED SALES GROWTH

10 Years:: —
5 Years:: 258%
3 Years:: 85%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: 137%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: 28%

RETURN ON EQUITY

10 Years:: —
5 Years:: 27%
3 Years:: 37%
Last Year:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-	-	-
Equity Capital	2	4	4	5	7	9
	-0	0	1	4	17	50
	0	0	2	9	12	6
Trade Payables	1	2	2	3	8	2
	-0	0	2	5	11	15
Total Liabilities	2	6	11	26	55	82
ASSETS	-	-	-	-	-	-
	2	3	4	5	6	21
	0	1	2	8	29	26
	0	0	0	0	18	30
	0	2	4	12	1	5
Total Assets	2	6	11	26	55	82
Total Debt	0	0	3	13	19	17
Net Working Capital	0	1	1	8	23	41
Contingent Liabilities	0	0	0	0	0	0
Book Value per Share	9.43	10.61	12.42	18.28	33.59	68.49
Face Value	10.00	10.00	10.00	10.00	10.00	10.00
Total Debt	0	0	3	13	19	17
Net Working Capital	0	1	1	8	23	41
Contingent Liabilities	0	0	0	0	0	0
Book Value per Share	9.43	10.61	12.42	18.28	33.59	68.49
Face Value	10.00	10.00	10.00	10.00	10.00	10.00

Mar 2020

Equity Capital: 2
: -0
: 0
Trade Payables: 1
: -0
Total Liabilities: 2
: 2
: 0
: 0
: 0
Total Assets: 2
Total Debt: 0
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 9.43
Face Value: 10.00
Total Debt: 0
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 9.43
Face Value: 10.00

Mar 2021

Equity Capital: 4
: 0
: 0
Trade Payables: 2
: 0
Total Liabilities: 6
: 3
: 1
: 0
: 2
Total Assets: 6
Total Debt: 0
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 10.61
Face Value: 10.00
Total Debt: 0
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 10.61
Face Value: 10.00

Mar 2022

Equity Capital: 4
: 1
: 2
Trade Payables: 2
: 2
Total Liabilities: 11
: 4
: 2
: 0
: 4
Total Assets: 11
Total Debt: 3
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 12.42
Face Value: 10.00
Total Debt: 3
Net Working Capital: 1
Contingent Liabilities: 0
Book Value per Share: 12.42
Face Value: 10.00

Mar 2023

Equity Capital: 5
: 4
: 9
Trade Payables: 3
: 5
Total Liabilities: 26
: 5
: 8
: 0
: 12
Total Assets: 26
Total Debt: 13
Net Working Capital: 8
Contingent Liabilities: 0
Book Value per Share: 18.28
Face Value: 10.00
Total Debt: 13
Net Working Capital: 8
Contingent Liabilities: 0
Book Value per Share: 18.28
Face Value: 10.00

Mar 2024

Equity Capital: 7
: 17
: 12
Trade Payables: 8
: 11
Total Liabilities: 55
: 6
: 29
: 18
: 1
Total Assets: 55
Total Debt: 19
Net Working Capital: 23
Contingent Liabilities: 0
Book Value per Share: 33.59
Face Value: 10.00
Total Debt: 19
Net Working Capital: 23
Contingent Liabilities: 0
Book Value per Share: 33.59
Face Value: 10.00

Mar 2025

Equity Capital: 9
: 50
: 6
Trade Payables: 2
: 15
Total Liabilities: 82
: 21
: 26
: 30
: 5
Total Assets: 82
Total Debt: 17
Net Working Capital: 41
Contingent Liabilities: 0
Book Value per Share: 68.49
Face Value: 10.00
Total Debt: 17
Net Working Capital: 41
Contingent Liabilities: 0
Book Value per Share: 68.49
Face Value: 10.00

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0	-0	-1	-9	-11	-3
Cash from Investing	-2	-2	-2	-1	-2	-17
Cash from Financing	2	2	3	10	13	20
	0	0	-0	-0	-0	-0
Free Cash Flow	0	-2	-3	-10	-12	-20
OCF / Net Profit	-0.02	-0.49	-1.51	-2.95	-1.52	-0.28
Cumulative 5-Year FCF	0	0	0	0	0	-48
OCF / Net Profit	-0.02	-0.49	-1.51	-2.95	-1.52	-0.28
Cumulative 5-Year FCF	0	0	0	0	0	-48

Mar 2020

: 0
Cash from Investing: -2
Cash from Financing: 2
: 0
Free Cash Flow: 0
OCF / Net Profit: -0.02
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.02
Cumulative 5-Year FCF: 0

Mar 2021

: -0
Cash from Investing: -2
Cash from Financing: 2
: 0
Free Cash Flow: -2
OCF / Net Profit: -0.49
Cumulative 5-Year FCF: 0
OCF / Net Profit: -0.49
Cumulative 5-Year FCF: 0

Mar 2022

: -1
Cash from Investing: -2
Cash from Financing: 3
: -0
Free Cash Flow: -3
OCF / Net Profit: -1.51
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.51
Cumulative 5-Year FCF: 0

Mar 2023

: -9
Cash from Investing: -1
Cash from Financing: 10
: -0
Free Cash Flow: -10
OCF / Net Profit: -2.95
Cumulative 5-Year FCF: 0
OCF / Net Profit: -2.95
Cumulative 5-Year FCF: 0

Mar 2024

: -11
Cash from Investing: -2
Cash from Financing: 13
: -0
Free Cash Flow: -12
OCF / Net Profit: -1.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.52
Cumulative 5-Year FCF: 0

Mar 2025

: -3
Cash from Investing: -17
Cash from Financing: 20
: -0
Free Cash Flow: -20
OCF / Net Profit: -0.28
Cumulative 5-Year FCF: -48
OCF / Net Profit: -0.28
Cumulative 5-Year FCF: -48

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-	-	-
EPS (₹)	-0.57	0.88	1.81	6.18	9.85	11.34
Book Value (₹)	9.43	10.61	12.42	18.28	33.59	68.49
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.50
Cash EPS (₹)	-0.25	1.71	3.09	7.59	11.03	13.55
PROFITABILITY	-	-	-	-	-	-
Operating Margin %	-44.67%	7.18%	9.29%	16.25%	16.32%	16.41%
Net Margin %	-56.12%	3.09%	4.13%	8.63%	8.99%	8.68%
ROE %	-6.02%	11.67%	15.72%	43.74%	42.47%	23.50%
ROCE %	-8.14%	15.93%	18.64%	34.42%	36.59%	27.91%
	-4.61%	8.21%	8.60%	17.03%	17.48%	14.20%
EFFICIENCY	-	-	-	-	-	-
Debtor Days	0	54	60	80	70	79
Inventory Days	115	17	31	52	88	91
Payable Days	1448	51	53	35	33	24
	-1333	21	37	98	125	146
FINANCIAL HEALTH	-	-	-	-	-	-
Debt to Equity (x)	0.00x	0.00x	0.56x	1.40x	0.80x	0.28x
Interest Coverage (x)	0.00x	100.31x	10.10x	5.97x	6.28x	6.74x
	1.14x	1.50x	1.28x	1.65x	1.87x	3.63x
GROWTH	-	-	-	-	-	-
Revenue Growth %	0.00%	5883.73%	54.77%	103.00%	118.59%	42.97%
Operating Profit Growth %	0.00%	1061.57%	100.31%	255.09%	119.55%	44.25%
Net Profit Growth %	0.00%	429.93%	106.52%	324.42%	127.53%	38.13%
	0.00%	0.00%	0.00%	0.00%	59.29%	15.11%
VALUATION	-	-	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x	26.54x	13.31x
P/B (x)	0.00x	0.00x	0.00x	0.00x	7.78x	2.20x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.33%
	0.00x	0.00x	0.00x	0.00x	17.38x	7.91x

Mar 2020

EPS (₹): -0.57
Book Value (₹): 9.43
Dividend per Share (₹): 0.00
Cash EPS (₹): -0.25
Operating Margin %: -44.67%
Net Margin %: -56.12%
ROE %: -6.02%
ROCE %: -8.14%
: -4.61%
Debtor Days: 0
Inventory Days: 115
Payable Days: 1448
: -1333
Debt to Equity (x): 0.00x
Interest Coverage (x): 0.00x
: 1.14x
Revenue Growth %: 0.00%
Operating Profit Growth %: 0.00%
Net Profit Growth %: 0.00%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2021

EPS (₹): 0.88
Book Value (₹): 10.61
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.71
Operating Margin %: 7.18%
Net Margin %: 3.09%
ROE %: 11.67%
ROCE %: 15.93%
: 8.21%
Debtor Days: 54
Inventory Days: 17
Payable Days: 51
: 21
Debt to Equity (x): 0.00x
Interest Coverage (x): 100.31x
: 1.50x
Revenue Growth %: 5883.73%
Operating Profit Growth %: 1061.57%
Net Profit Growth %: 429.93%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2022

EPS (₹): 1.81
Book Value (₹): 12.42
Dividend per Share (₹): 0.00
Cash EPS (₹): 3.09
Operating Margin %: 9.29%
Net Margin %: 4.13%
ROE %: 15.72%
ROCE %: 18.64%
: 8.60%
Debtor Days: 60
Inventory Days: 31
Payable Days: 53
: 37
Debt to Equity (x): 0.56x
Interest Coverage (x): 10.10x
: 1.28x
Revenue Growth %: 54.77%
Operating Profit Growth %: 100.31%
Net Profit Growth %: 106.52%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2023

EPS (₹): 6.18
Book Value (₹): 18.28
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.59
Operating Margin %: 16.25%
Net Margin %: 8.63%
ROE %: 43.74%
ROCE %: 34.42%
: 17.03%
Debtor Days: 80
Inventory Days: 52
Payable Days: 35
: 98
Debt to Equity (x): 1.40x
Interest Coverage (x): 5.97x
: 1.65x
Revenue Growth %: 103.00%
Operating Profit Growth %: 255.09%
Net Profit Growth %: 324.42%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): 9.85
Book Value (₹): 33.59
Dividend per Share (₹): 0.00
Cash EPS (₹): 11.03
Operating Margin %: 16.32%
Net Margin %: 8.99%
ROE %: 42.47%
ROCE %: 36.59%
: 17.48%
Debtor Days: 70
Inventory Days: 88
Payable Days: 33
: 125
Debt to Equity (x): 0.80x
Interest Coverage (x): 6.28x
: 1.87x
Revenue Growth %: 118.59%
Operating Profit Growth %: 119.55%
Net Profit Growth %: 127.53%
: 59.29%
P/E (x): 26.54x
P/B (x): 7.78x
Dividend Yield %: 0.00%
: 17.38x

Mar 2025

EPS (₹): 11.34
Book Value (₹): 68.49
Dividend per Share (₹): 0.50
Cash EPS (₹): 13.55
Operating Margin %: 16.41%
Net Margin %: 8.68%
ROE %: 23.50%
ROCE %: 27.91%
: 14.20%
Debtor Days: 79
Inventory Days: 91
Payable Days: 24
: 146
Debt to Equity (x): 0.28x
Interest Coverage (x): 6.74x
: 3.63x
Revenue Growth %: 42.97%
Operating Profit Growth %: 44.25%
Net Profit Growth %: 38.13%
: 15.11%
P/E (x): 13.31x
P/B (x): 2.20x
Dividend Yield %: 0.33%
: 7.91x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	69.94	69.94	69.94	58.28	58.28	58.28
	1.68	0.00	0.00	0.00	0.00	0.21
	2.56	0.00	1.09	1.35	1.35	1.35
Government	0.00	0.00	0.00	0.00	0.00	0.00
	25.82	30.06	28.97	40.37	40.37	40.16

Sep 2023

: 69.94
: 1.68
: 2.56
Government: 0.00
: 25.82

Mar 2024

: 69.94
: 0.00
: 0.00
Government: 0.00
: 30.06

Sep 2024

: 69.94
: 0.00
: 1.09
Government: 0.00
: 28.97

Mar 2025

: 58.28
: 0.00
: 1.35
Government: 0.00
: 40.37

Sep 2025

: 58.28
: 0.00
: 1.35
Government: 0.00
: 40.37

Mar 2026

: 58.28
: 0.21
: 1.35
Government: 0.00
: 40.16

Documents

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Annual Reports

Credit Ratings

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Concalls

Nov 2025
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Mar 2025
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