Tapi Fruit Processing Ltd.

•

₹ 520%

2026-08-21

tapifood.comBSE: -NSE: TAPIFRUIT

Market Cap₹ 22 Cr.

Current Price₹ 52

High / Low₹ 105 / 45

Stock P/E—

Book Value₹ 25

Price to Book2.72

Dividend Yield0.00 %

ROCE-7.6 %

ROE-12.2 %

Face Value₹ 10

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ABOUT

KEY POINTS

PROS

Working capital cycle has improved - days down from 118 to 2

CONS

Company is loss-making at the operating / net level
Company has a low return on equity of -6.2% over last 3 years
Interest coverage is weak at -13.1x - earnings barely cover interest
Company has a low return on capital employed of -3.0%
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -0.51x)
Operating cash flow has been negative in recent years

* 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.	TAPIFRUIT	52.00	0.00	22.36	0.00	—	—	—	—	-7.62	—

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

No quarterly results found

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

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	15	21	22	20
	14	20	22	21
Operating Profit	1	1	1	-0
OPM %	8	3	3	-2
Other Income	0	0	0	0
Interest	0	0	0	0
Depreciation	1	1	1	1
	0	-0	-0	-1
Tax %	26	7	-16	-6
Net Profit	0	-0	-0	-1
EPS	6	-1	-0	-3
Dividend Payout %	0	0	0	0
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	2	-0	-0	-3
Minority Interest	0	0	0	0
Share of Associates	0	0	0	0
Adjusted EPS	2	-0	-0	-3

Mar 2022

: 15
: 14
Operating Profit: 1
OPM %: 8
Other Income: 0
Interest: 0
Depreciation: 1
: 0
Tax %: 26
Net Profit: 0
EPS: 6
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

: 21
: 20
Operating Profit: 1
OPM %: 3
Other Income: 0
Interest: 0
Depreciation: 1
: -0
Tax %: 7
Net Profit: -0
EPS: -1
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0

Mar 2024

: 22
: 22
Operating Profit: 1
OPM %: 3
Other Income: 0
Interest: 0
Depreciation: 1
: -0
Tax %: -16
Net Profit: -0
EPS: -0
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -0

Mar 2025

: 20
: 21
Operating Profit: -0
OPM %: -2
Other Income: 0
Interest: 0
Depreciation: 1
: -1
Tax %: -6
Net Profit: -1
EPS: -3
Dividend Payout %: 0
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -3
Minority Interest: 0
Share of Associates: 0
Adjusted EPS: -3

COMPOUNDED SALES GROWTH

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

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -34%
1 Year:: -28%

RETURN ON EQUITY

10 Years:: —
5 Years:: —
3 Years:: -6%
Last Year:: -12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
LIABILITIES	-	-	-	-
Equity Capital	0	4	4	4
	0	4	7	8
	2	0	1	1
Trade Payables	2	1	0	2
	4	0	2	7
Total Liabilities	8	10	15	22
ASSETS	-	-	-	-
	4	4	5	6
Capital Work in Progress	0	0	1	11
	0	1	0	0
	3	2	2	2
	0	0	1	1
Cash & Bank	0	0	4	0
	2	3	2	1
Total Assets	8	10	15	22
Total Debt	5	0	2	7
Net Working Capital	0	4	7	0
Contingent Liabilities	0	0	0	0
Book Value per Share	17.19	20.07	27.85	27.56
Face Value	10.00	10.00	10.00	10.00
Total Debt	5	0	2	7
Net Working Capital	0	4	7	0
Contingent Liabilities	0	0	0	0
Book Value per Share	17.19	20.07	27.85	27.56
Face Value	10.00	10.00	10.00	10.00

Mar 2022

Equity Capital: 0
: 0
: 2
Trade Payables: 2
: 4
Total Liabilities: 8
: 4
Capital Work in Progress: 0
: 0
: 3
: 0
Cash & Bank: 0
: 2
Total Assets: 8
Total Debt: 5
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 17.19
Face Value: 10.00
Total Debt: 5
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 17.19
Face Value: 10.00

Mar 2023

Equity Capital: 4
: 4
: 0
Trade Payables: 1
: 0
Total Liabilities: 10
: 4
Capital Work in Progress: 0
: 1
: 2
: 0
Cash & Bank: 0
: 3
Total Assets: 10
Total Debt: 0
Net Working Capital: 4
Contingent Liabilities: 0
Book Value per Share: 20.07
Face Value: 10.00
Total Debt: 0
Net Working Capital: 4
Contingent Liabilities: 0
Book Value per Share: 20.07
Face Value: 10.00

Mar 2024

Equity Capital: 4
: 7
: 1
Trade Payables: 0
: 2
Total Liabilities: 15
: 5
Capital Work in Progress: 1
: 0
: 2
: 1
Cash & Bank: 4
: 2
Total Assets: 15
Total Debt: 2
Net Working Capital: 7
Contingent Liabilities: 0
Book Value per Share: 27.85
Face Value: 10.00
Total Debt: 2
Net Working Capital: 7
Contingent Liabilities: 0
Book Value per Share: 27.85
Face Value: 10.00

Mar 2025

Equity Capital: 4
: 8
: 1
Trade Payables: 2
: 7
Total Liabilities: 22
: 6
Capital Work in Progress: 11
: 0
: 2
: 1
Cash & Bank: 0
: 1
Total Assets: 22
Total Debt: 7
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 27.56
Face Value: 10.00
Total Debt: 7
Net Working Capital: 0
Contingent Liabilities: 0
Book Value per Share: 27.56
Face Value: 10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1	-1	-0	2
Cash from Investing	-1	-1	-2	-11
Cash from Financing	-0	3	6	6
	-0	0	3	-3
Free Cash Flow	1	-2	-3	-10
OCF / Net Profit	6.26	6.08	0.63	-1.52
Cumulative 5-Year FCF	0	0	0	0
OCF / Net Profit	6.26	6.08	0.63	-1.52
Cumulative 5-Year FCF	0	0	0	0

Mar 2022

: 1
Cash from Investing: -1
Cash from Financing: -0
: -0
Free Cash Flow: 1
OCF / Net Profit: 6.26
Cumulative 5-Year FCF: 0
OCF / Net Profit: 6.26
Cumulative 5-Year FCF: 0

Mar 2023

: -1
Cash from Investing: -1
Cash from Financing: 3
: 0
Free Cash Flow: -2
OCF / Net Profit: 6.08
Cumulative 5-Year FCF: 0
OCF / Net Profit: 6.08
Cumulative 5-Year FCF: 0

Mar 2024

: -0
Cash from Investing: -2
Cash from Financing: 6
: 3
Free Cash Flow: -3
OCF / Net Profit: 0.63
Cumulative 5-Year FCF: 0
OCF / Net Profit: 0.63
Cumulative 5-Year FCF: 0

Mar 2025

: 2
Cash from Investing: -11
Cash from Financing: 6
: -3
Free Cash Flow: -10
OCF / Net Profit: -1.52
Cumulative 5-Year FCF: 0
OCF / Net Profit: -1.52
Cumulative 5-Year FCF: 0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE	-	-	-	-
EPS (₹)	6.24	-0.48	-0.44	-3.35
Book Value (₹)	17.19	20.07	27.85	27.56
Dividend per Share (₹)	0.00	0.00	0.00	0.00
Cash EPS (₹)	7.76	1.11	1.42	-1.13
PROFITABILITY	-	-	-	-
Operating Margin %	8.08%	2.83%	1.38%	-2.72%
Net Margin %	1.03%	-0.91%	-0.82%	-7.09%
ROE %	36.30%	-4.56%	-1.87%	-12.24%
ROCE %	11.15%	-0.65%	-0.86%	-7.62%
	1.95%	-2.14%	-1.48%	-7.81%
EFFICIENCY	-	-	-	-
Debtor Days	33	29	26	25
Inventory Days	61	39	31	36
Payable Days	72	39	15	27
	22	28	43	35
FINANCIAL HEALTH	-	-	-	-
Debt to Equity (x)	12.42x	0.06x	0.15x	0.58x
Interest Coverage (x)	1.49x	-0.29x	-1.61x	-13.08x
	1.09x	3.41x	5.05x	1.03x
GROWTH	-	-	-	-
Revenue Growth %	0.00%	36.33%	7.80%	-9.41%
Operating Profit Growth %	0.00%	-52.24%	-3.14%	-180.53%
Net Profit Growth %	0.00%	-221.15%	3.47%	-684.51%
	0.00%	0.00%	9.42%	-665.59%
VALUATION	-	-	-	-
P/E (x)	0.00x	0.00x	0.00x	0.00x
P/B (x)	0.00x	0.00x	4.42x	2.72x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%
	0.00x	0.00x	87.36x	-84.97x

Mar 2022

EPS (₹): 6.24
Book Value (₹): 17.19
Dividend per Share (₹): 0.00
Cash EPS (₹): 7.76
Operating Margin %: 8.08%
Net Margin %: 1.03%
ROE %: 36.30%
ROCE %: 11.15%
: 1.95%
Debtor Days: 33
Inventory Days: 61
Payable Days: 72
: 22
Debt to Equity (x): 12.42x
Interest Coverage (x): 1.49x
: 1.09x
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 2023

EPS (₹): -0.48
Book Value (₹): 20.07
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.11
Operating Margin %: 2.83%
Net Margin %: -0.91%
ROE %: -4.56%
ROCE %: -0.65%
: -2.14%
Debtor Days: 29
Inventory Days: 39
Payable Days: 39
: 28
Debt to Equity (x): 0.06x
Interest Coverage (x): -0.29x
: 3.41x
Revenue Growth %: 36.33%
Operating Profit Growth %: -52.24%
Net Profit Growth %: -221.15%
: 0.00%
P/E (x): 0.00x
P/B (x): 0.00x
Dividend Yield %: 0.00%
: 0.00x

Mar 2024

EPS (₹): -0.44
Book Value (₹): 27.85
Dividend per Share (₹): 0.00
Cash EPS (₹): 1.42
Operating Margin %: 1.38%
Net Margin %: -0.82%
ROE %: -1.87%
ROCE %: -0.86%
: -1.48%
Debtor Days: 26
Inventory Days: 31
Payable Days: 15
: 43
Debt to Equity (x): 0.15x
Interest Coverage (x): -1.61x
: 5.05x
Revenue Growth %: 7.80%
Operating Profit Growth %: -3.14%
Net Profit Growth %: 3.47%
: 9.42%
P/E (x): 0.00x
P/B (x): 4.42x
Dividend Yield %: 0.00%
: 87.36x

Mar 2025

EPS (₹): -3.35
Book Value (₹): 27.56
Dividend per Share (₹): 0.00
Cash EPS (₹): -1.13
Operating Margin %: -2.72%
Net Margin %: -7.09%
ROE %: -12.24%
ROCE %: -7.62%
: -7.81%
Debtor Days: 25
Inventory Days: 36
Payable Days: 27
: 35
Debt to Equity (x): 0.58x
Interest Coverage (x): -13.08x
: 1.03x
Revenue Growth %: -9.41%
Operating Profit Growth %: -180.53%
Net Profit Growth %: -684.51%
: -665.59%
P/E (x): 0.00x
P/B (x): 2.72x
Dividend Yield %: 0.00%
: -84.97x

Shareholding Pattern

Numbers in percentages

TRADES

	Sep 2022	Mar 2023	Sep 2023	Mar 2024	Sep 2024	Mar 2025	Sep 2025	Mar 2026
	72.22	72.22	67.79	67.79	67.79	66.15	65.72	65.72
	0.00	0.00	0.00	0.00	0.00	0.25	0.24	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	27.78	27.78	32.21	32.21	32.21	33.61	34.03	34.28

Sep 2022

: 72.22
: 0.00
DIIs: 0.00
Government: 0.00
: 27.78

Mar 2023

: 72.22
: 0.00
DIIs: 0.00
Government: 0.00
: 27.78

Sep 2023

: 67.79
: 0.00
DIIs: 0.00
Government: 0.00
: 32.21

Mar 2024

: 67.79
: 0.00
DIIs: 0.00
Government: 0.00
: 32.21

Sep 2024

: 67.79
: 0.00
DIIs: 0.00
Government: 0.00
: 32.21

Mar 2025

: 66.15
: 0.25
DIIs: 0.00
Government: 0.00
: 33.61

Sep 2025

: 65.72
: 0.24
DIIs: 0.00
Government: 0.00
: 34.03

Mar 2026

: 65.72
: 0.00
DIIs: 0.00
Government: 0.00
: 34.28

Documents

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Concalls

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