Shah Foods Ltd (SHAHFOOD)

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Shah Foods Ltd (SHAHFOOD) · mywealthgrid

About

Shah Foods Ltd manufactures packaged food products in India's consumer staples sector, with a market cap of ₹815.5 Cr. Recent quarterly revenues have ranged ₹0.08–₹2.3 Cr with corresponding swings in profitability, indicating either significant operational restructuring or market volatility challenges.

Face value: ₹10

Market cap

₹766 Cr

P/E

—

P/B

4.4×

Dividend yield

ROE

-0.1%

ROCE

-0.2%

Debt / equity

OPM

—

EPS (TTM)

₹-0.1

Book value

₹74.3

52-week high

—

52-week low

—

Key insights

Company research notes and source-linked reviews

Key risks

Operating margins swing from -87.5% (Jun 2024) to 7.84% (Mar 2025), suggesting severe cost-management or volume-pricing misalignment; verify the structural causes and outlook.
Promoter holds only 1.26% versus 98.74% public shareholding, with zero FII/DII presence; verify who steers strategy and whether leadership has meaningful economic interest.
Quarterly revenue data is absent for Jun–Dec 2023; verify whether this reflects a recent restructuring, new entity, or incomplete historical reporting.
Profitability is erratic, with EPS negative across most quarters except one; verify trajectory and sustainability.

Generated analysis · source review pending

Growth drivers

Mar 2025 reached ₹2.3 Cr revenue with ₹0.17 Cr net profit and 7.84% OPM, the highest on record; verify if this improvement is durable.
Stock has returned 75% over one year despite volatile fundamentals; verify what operational or strategic inflection this reflects.
Packaged foods consumption is growing in India; verify the company's current market share, product portfolio, and distribution capacity to assess growth capture.
Market cap of ₹815.5 Cr provides a base for scaling distribution relationships; verify if being deployed effectively.

Generated analysis · source review pending

922 historical price candles were omitted because the exchange source has not been verified.

₹328.7-5%1Y

Quick read

rule-based

Pros

+Almost debt-free (debt/equity 0)

Cons

−Low return on equity of -916.7% (3-yr avg)
−Low promoter holding of 1.3%
−Promoter holding fell 47.8 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

34/100

Business quality: 33
Growth: 0
Valuation: 69

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	5	5	4	6	—	0	0	0	0	4	0
COGS	—	-0	-0	—	—	0	0	0	0	4	0
Gross profit	—	—	—	—	—	—	—	—	—	0	—
	5	5	6	5	—	1	0	0	0	0	0
	0	1	-1	0	—	-1	-0	-0	-0	0	-0
OPM %	7%	13.3%	-24.8%	4.6%	—	-577.8%	—	—	—	2.9%	—
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Interest	0	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	-0	0	0	0	0	0	0
Profit before tax	0	1	0	0	-2	-1	-0	-0	-0	0	-0
Tax	0	—	—	—	—	0	0	0	0	0	0
Tax %	30%	—	—	—	—	0%	0%	0%	0%	0%	0%
	0	0	0	0	-2	-1	-0	-0	-0	0	-0
PAT margin %	4.1%	8.1%	2.9%	2.1%	—	-611.1%	—	—	—	2.9%	—
EPS (₹)	3.4	7.3	2.1	2	-28.9	-9.3	-4.6	-3.5	-3.7	1.8	-0.1
EPS adjusted (₹)	—	—	—	—	—	-9.2	-4.5	-3.5	-3.7	1.8	-0.1
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	1	1	1	1	1	23
Reserves	-1	-1	-1	-1	-1	150
	1	1	0	0	1	0
	0	0	1	1	2	5
Total equity & liabilities	1	1	1	1	3	179
	0	0	0	0	0	0
CWIP	—	—	0	—	0	0
Investments	0	0	0	0	0	174
	1	1	1	1	3	5
Total assets	1	1	1	1	3	179

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	0	-0	-0	-0	3
	0	0	0	0	0	-174
	0	0	0	0	0	174
Net cash flow	0	0	-0	-0	0	4
Free cash flow	-1	0	-0	-0	-0	3
CFO / Operating profit %	—	—	—	—	-163.6%	—

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Ratios

Annual operating, return, leverage and working-capital ratios.

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	7.1%	—
EBITDA margin %	4.6%	—	-577.8%	—	—	—	2.9%	—
EBIT margin %	1.8%	—	-611.1%	—	—	—	2.9%	—
PAT margin %	2.1%	—	-611.1%	—	—	—	2.9%	—
Working capital
Receivable days	—	—	0	—	—	—	223	—
Inventory days	—	—	0	—	—	—	0	—
Payable days	—	—	48	—	—	—	191	—
NWC days	—	—	-48	—	—	—	32	—
Leverage
Current ratio	—	—	2.36	4.06	3.33	3.58	1.3	1.17
Debt to EBITDA	—	—	—	—	—	—	11.55	—
Debt to equity	—	—	28.33	-3.58	-0	-0	-2.27	0
Interest coverage	16	-24	-54	—	—	—	—	—
Asset turnover	—	—	0.08	0	0	0	1.31	0
Return ratios
Return on assets %	—	—	-47.8%	-33.3%	-35%	-42.3%	3.8%	-0.1%
Return on capital employed %	—	—	-60%	-36.6%	-40%	-53.7%	19.5%	-0.2%
Return on equity %	—	—	-1,833.3%	112.5%	46.7%	32.8%	-19.6%	-0.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	26.13%	0.54%	49.55%	49.55%	49.01%	49.01%	49.01%	49.01%	49.01%	49.01%	1.26%	1.26%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
DII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	73.87%	99.46%	50.45%	50.45%	50.99%	50.99%	50.99%	50.99%	50.99%	50.99%	98.74%	98.74%
No. of shareholders	—	—	—	—	—	—	—	—	980	968	1,057	1,049

Promoter holding down 24.87 percentage points since Sep 2023.

10 deals · 10 Jan 2022 – 14 Jul 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
14 Jul 2025	RUCHIRA GOYAL	Bulk	BSE	Buy	3,000	₹136.50	₹0.04 Cr
7 Mar 2025	DIVYA KANDA	Bulk	BSE	Buy	7,584	₹137.77	₹0.10 Cr
7 Mar 2025	VIVEK KANDA	Bulk	BSE	Sell	7,294	₹137.75	₹0.10 Cr
6 Oct 2023	GUTTIKONDA VARA LAKSHMI	Bulk	BSE	Buy	4,633	₹174.37	₹0.08 Cr
6 Oct 2023	TALIB ZAFAR	Bulk	BSE	Sell	4,023	₹175.23	₹0.07 Cr
6 Oct 2023	TALIB ZAFAR	Bulk	BSE	Buy	77	₹158.75	₹0.00 Cr
31 Jul 2023	VIVEK KANDA	Bulk	BSE	Buy	3,347	₹158.06	₹0.05 Cr
10 Jul 2023	VIVEK KANDA	Bulk	BSE	Buy	5,758	₹116.45	₹0.07 Cr
10 Jul 2023	UTKARSH PATEL	Bulk	BSE	Sell	4,131	₹116.45	₹0.05 Cr
10 Jan 2022	NEMICHANDPRAKASHKUMAR	Bulk	BSE	Sell	3,240	₹32.45	₹0.01 Cr

1–10 of 10

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mrs. Hemakshi Manan PatelExecutive Director-Chairperson-MD
Mr. Anuj JalanExecutive Director
Mr. Manan Rajesh PatelExecutive Director
Mr. Daivik JalanNon - Executive Non -Independent Director
Mr. Giri Raj ParasharNon - Executive Independent Director
Mr. Rohitkumar Mehrchand BhandariNon-Executive - Independent Director
Mr. Advait Satyavikas JoshiNon-Executive - Independent Director
Mr. Raj Kumar JalanExecutive Director
Mr. Shivam GuptaNon - Executive Independent Director
Mr. Balveermal Kewalmal SinghviNon-Executive - Independent Director
Mrs. Pragati GoelNon - Executive Independent Director

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Shah Foods Ltd. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

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Events

Upcoming dates and the company’s corporate-action history.

3

Dividend dividend8 Sept 2010 · ex-date₹1
Dividend dividend10 Sept 2009 · ex-date₹1
Dividend dividend11 Sept 2008 · ex-date₹1

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

39 announcementsExport CSV

1 Oct 2026, 7:52 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

1 Oct 2026, 7:25 pmCompany Update

Corrigendum To The Announcement Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulations') - Change In Management

General PDF

30 Sept 2026, 11:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

30 Sept 2026, 7:02 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 3:23 pmCompany Update

Announcement under Regulation 30 (LODR)-Change of Company Name

Change of Name PDF

29 Sept 2026, 12:05 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

10 Sept 2026, 1:00 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

10 Sept 2026, 12:38 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

Date	Category	Subject	Filing
1 Oct 2026, 7:52 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
1 Oct 2026, 7:25 pm	Company Update General	Corrigendum To The Announcement Under Regulation 30 Of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 ('Listing Regulations') - Change In Management

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—	—	—	7.1%	—
EBITDA margin %	4.6%	—	-577.8%	—	—	—	2.9%	—
EBIT margin %	1.8%	—	-611.1%	—	—	—	2.9%	—
PAT margin %	2.1%	—	-611.1%	—	—	—	2.9%	—
Working capital
Receivable days	—	—	0	—	—	—	223	—
Inventory days	—	—	0	—	—	—	0	—
Payable days	—	—	48	—	—	—	191	—
NWC days	—	—	-48	—	—	—	32	—
Leverage
Current ratio	—	—	2.36	4.06	3.33	3.58	1.3	1.17
Debt to EBITDA	—	—	—	—	—	—	11.55	—
Debt to equity	—	—	28.33	-3.58	-0	-0	-2.27	0
Interest coverage	16	-24	-54	—	—	—	—	—
Asset turnover	—	—	0.08	0	0	0	1.31	0
Return ratios
Return on assets %	—	—	-47.8%	-33.3%	-35%	-42.3%	3.8%	-0.1%
Return on capital employed %	—	—	-60%	-36.6%	-40%	-53.7%	19.5%	-0.2%
Return on equity %	—	—	-1,833.3%	112.5%	46.7%	32.8%	-19.6%	-0.1%

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Zydus Wellness LimitedZYDUSWELLZYDUSWELL	₹15,695 Cr	₹18,882 Cr	₹4,537 Cr	₹596 Cr	12.9%	₹188 Cr	5%	4.8%	3.4%	106
Bikaji Foods International LimitedBIKAJIBIKAJI	₹12,637 Cr	₹12,846 Cr	₹3,075 Cr	₹413 Cr	13.7%	₹259 Cr	8.5%	20.7%	17.3%	23
The Bombay Burmah Trading Corporation LimitedBBTCBBTC	₹9,313 Cr	₹10,868 Cr	₹19,915 Cr	₹3,540 Cr	17.6%	₹1,290 Cr	12.8%	36.4%	19.6%	-7
Mrs. Bectors Food Specialities LimitedBECTORFOODBECTORFOOD	₹6,540 Cr	₹6,671 Cr	₹2,119 Cr	₹272 Cr	12.6%	₹149 Cr	6.9%	14.6%	11.6%	34
Gopal Snacks LimitedGOPALGOPAL	₹3,177 Cr	₹3,331 Cr	₹1,608 Cr	₹118 Cr	6.7%	₹84 Cr	4.9%	14.4%	16.7%	66
Adf Foods LimitedADFFOODSADFFOODS	₹3,093 Cr	₹3,101 Cr	₹718 Cr	₹137 Cr	19.1%	₹92 Cr	13.2%	21.6%	16.9%	143
Prataap Snacks LimitedDIAMONDYDDIAMONDYD	₹2,564 Cr	₹2,567 Cr	₹1,557 Cr	₹45 Cr	3.8%	₹13 Cr	1.2%	1.1%	3.1%	13
Tasty Bite Eatables LimitedTASTYBITETASTYBITE	₹2,458 Cr	₹2,492 Cr	₹540 Cr	₹74 Cr	13.7%	₹42 Cr	7.7%	17.9%	15.7%	—
Shah Foods LtdSHAHFOODSHAHFOOD	₹766 Cr	₹766 Cr	₹0 Cr	₹0 Cr	—	₹-0 Cr	—	-0.2%	-0.1%	—
Lotus Chocolate Company LtdLOTUSCHOLOTUSCHO	₹692 Cr	₹840 Cr	₹574 Cr	₹31 Cr	5.4%	₹17 Cr	3%	50.3%	33.8%	—
Ganesh Consumer Products LimitedGANESHCPGANESHCP	₹601 Cr	₹610 Cr	₹857 Cr	₹85 Cr	9.8%	₹45 Cr	4.9%	21%	14.2%	29
Nurture Well Industries LtdNWILNWIL	₹466 Cr	₹501 Cr	₹1,026 Cr	₹90 Cr	8.8%	₹67 Cr	8.2%	23.4%	19.9%	44

Shah Foods Ltd

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Events

Dividends3

Board meetings1

Announcements

Dividends3

Board meetings1

Ratio timeline

Not in the F&O segment

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Return on equity

3

1

3

1