Krishival Foods Ltd(KRISHIVAL)

NSE: KRISHIVALBSE: 544416

₹ 336.4-7.29%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 862 crWebsite: www.krishival.comUpdated: 24 Oct 2026

About

Krishival Foods Ltd is an Indian FMCG company operating two businesses: processed nuts and dry fruits under the Krishival brand, and ice cream under the Melt N Mellow brand via its subsidiary. The company reported consolidated revenue of Rs. 292.67 crore in FY26, up 48% year-on-year. It is listed on the main boards of BSE and NSE.^[1][2][3]

Business segments

Nuts and Dry Fruits contributed Rs. 202.45 crore, or 69.2% of consolidated FY26 revenue, with an EBIT margin of 12.8%.^[4]
Ice Creams contributed Rs. 90.22 crore, or 30.8% of consolidated FY26 revenue, with an EBIT margin of 6.5%.^[4]
In Q1 FY27, ice cream (Melt N Mellow) crossed 50% of total revenue for the first time, contributing Rs. 51.57 crore or 58% of the consolidated Rs. 88.96 crore quarterly revenue.^[5]

Products and brands

Krishival Nuts sells almonds, cashew, pistachios and flavoured nuts across 11,000+ retail touchpoints as of Q1 FY27; exports commenced to Singapore under the Krishival brand.^[5][3]
Melt N Mellow ice cream portfolio spans Novelties, Cakes, Charms, Marvel Bars, Pastries and Zero Added Sugar formats; 13 new SKUs (7 ice cream, 6 nuts) launched in Q1 FY27, including a Rs. 20 MRP impulse nuts range.^[5]
Kaju Katli was piloted during Diwali in Q2 FY26 with a positive response; full national rollout planned for calendar year 2026.^[6]
Nuts products are available on Amazon, Flipkart, Blinkit and Zepto; e-commerce and quick commerce account for 5 - 8% of nuts segment sales as of Q2 FY26.^[6]

Operations and capacity

Nuts processing capacity doubled to 20 MT/day finished nuts in April 2026 when a new 35,000 sq ft unit commenced operations, up from 10 MT/day as of 31 March 2026.^[2]
A new 2-lakh sq ft nuts facility is under construction on the company's own 5-acre land at Halkarni MIDC, which will add 20 MT/day in a third phase to reach 40 MT/day total.^[2][6]
Melt N Mellow ice cream plant at Chhatrapati Sambhaji Nagar has installed capacity of 1 lakh litre/day; utilisation was approximately 25% in FY26.^[6][2]
Nuts plant capacity utilisation reached 70% on the original 10 MT/day line in FY26.^[2]

Key operating numbers

Ice cream segment revenue grew +230% YoY in Q1 FY27; ice cream EBITDA grew 793% YoY to Rs. 5.18 crore at a 10.05% margin (+634 bps YoY).^[5]
Nuts segment EBITDA margin was 18.24% in Q1 FY27, contributing 55% of total EBITDA despite being 42% of revenue.^[5]
Nuts segment EBITDA margin was 15% and PAT margin was 10% in FY26.^[2]
Consolidated EBITDA margin was 13.00% in Q1 FY27, up from 9.98% in Q4 FY26 but down 256 bps from 15.57% in Q1 FY26, weighed by higher milk prices and diesel availability constraints.^[5]

Distribution and customers

Melt N Mellow ice cream reached 34,200+ retail touchpoints across Maharashtra, Karnataka, Telangana, Andhra Pradesh and Goa as of Q1 FY27, served by 17,280+ deep freezers and 120+ active distributors at a 95% retention rate.^[5][2]
Deep freezer network grew from 3,732 to 15,490 during FY26 (approximately 4x), then to 17,280 by end of Q1 FY27 with 1,780 units added predominantly in newly entered Andhra Pradesh.^[2][5]
Krishival Nuts is present in 300+ retail outlets in Singapore with expected FY26 export revenue exceeding 1 million Singapore dollars; USA and Japan are targeted for expansion.^[6]
Nuts distribution covers 11,000+ retail touchpoints as of Q1 FY27, with the brand present in more than 100 towns.^[5][3]

Expansion and capex

A Rs. 100 crore rights issue was completed; the first tranche of Rs. 35 crore was received in January 2026 (Rs. 25 crore for the new nuts plant, Rs. 10 crore for working capital). Remaining Rs. 65 crore is to be called in two tranches during CY2026.^[2]
The board proposes an additional loan of up to Rs. 35 crore and a corporate guarantee of up to Rs. 35 crore to subsidiary Melt N Mellow Foods for working capital, convertible into equity at 12% p.a.^[7]
Deep freezer network is targeted to reach 26,500 units in FY27 and 35,000 units by FY28.^[5][2]
Nuts processing capacity is targeted to reach 30 MT/day in FY27 and 40 MT/day in FY28; ice cream plant is targeted to reach 100% utilisation by Q1 FY29, representing approximately Rs. 600 crore revenue potential at full utilisation.^[2][6]

Recent developments

Melt N Mellow entered Andhra Pradesh in Q1 FY27 through 3 CNF locations covering Rayalaseema, Vijayawada and Visakhapatnam.^[5]
The first 'Mellow & Co.' FOCO (franchise-owned, company-operated) branded ice cream parlour is planned to open in September 2026; management had earlier targeted 25 such outlets in Mumbai and Pune in FY27.^[5][2]
Statutory auditors M/s. Tammana Parmar & Associates were proposed for re-appointment for a second five-year term from the 12th AGM (2026) to the 17th AGM (2031).^[7]
GST on pistachios, almonds and flavoured nuts was reduced from 12% to 5%, and on ice cream from 18% to 5%; the company passed 100% of the benefit to consumers as of Q2 FY26.^[6]

Market Cap

₹862 Cr

High / Low

₹481 / 298

Stock P/E

43.2

Price / Book

4.9

Book Value

₹75

EPS

₹8.4

No. of Shares

2.56 Cr

ROCE

13.4%

ROE

11.2%

OPM

10.4%

Debt / Equity

0.19

Sales

₹293 Cr

Net Profit

₹22 Cr

Promoter holding

37.2%

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Krishival Foods Ltd(KRISHIVAL)

About

Business segments

Products and brands

Operations and capacity

Key operating numbers

Distribution and customers

Expansion and capex

Recent developments

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