Foods & Inns Ltd(FOODSIN)

NSE: FOODSINBSE: 507552

₹ 41.93-0.69%refreshed 26 Oct, 03:30 pm ISTMarket cap: ₹ 308 crWebsite: www.foodsandinns.comUpdated: 24 Oct 2026

About

Foods & Inns processes fruit and vegetables into pulps and other products. Its lines include mango, guava and tomato pulps and paste, spray-dried powders, frozen foods, Tetra Recart packs and Kusum spices. FY26 revenue was Rs 868.02 Cr on sales tonnage of 102,072 MT, and pulping, at Rs 695 cr, is the largest vertical.^[1][2]

Business verticals

Pulping was the largest vertical in FY26, with revenue of Rs 695 cr.^[2]
Mango is the core of pulping: Rs 735 Cr of the Rs 815 Cr pulping revenue in FY25.^[3]
Frozen food segment revenue was Rs 92 cr in FY26.^[2]
Tomato revenue was about Rs 55 cr in 9M FY26.^[4]
Tetra Recart revenue was about Rs 5 cr in 9M FY26, at low utilisation.^[4]
Inventory mix was 74% mango and 26% non-mango as of Q3 FY26. Management aims for a 60:40 mango to non-mango split.^[4]

Operations and capacity

Spray drying capacity has been 1,100 MTPA, running at full capacity since Nov 2024.^[3][5]
Spray drying was at 100% utilisation in Q3 FY26.^[4]
Frozen food lines at Nashik were running three shifts in Q3 FY26.^[4]
Commissioning of the Vankal frozen plant drove frozen foods growth in FY25.^[3]
A pectin joint venture at Chittoor turns mango waste into pectin. India imports 95% of its pectin (FY25).^[3]

Key operating numbers

Sales tonnage was 20,836 MT in Q1 FY27, down from 29,964 MT in Q1 FY26.^[5]
Sales tonnage was 102,072 MT in FY26, up from 98,399 MT in FY25.^[2]
Average realisations fell about 18.5% YoY in Q1 FY27 and about 25.3% YoY in Q4 FY26, as 2025-crop inventory made from cheaper raw material was sold.^[5][2]
Gross margin was 55.1% in Q1 FY27 vs 39.0% a year earlier, and 39.1% in FY26 vs 33.6% in FY25.^[5][2]
Spray drying volumes grew 22% YoY in Q1 FY27.^[5]
Frozen food volumes rose about 10% and value about 19.5% YoY in Q1 FY27. FY26 frozen volumes were up about 28%.^[5][2]
The Kusum spice business grew 14.7% YoY in Q1 FY27.^[5]
Pricing is a pure pass-through of raw material cost movements (Q1 FY27).^[5]

Customers and markets

India accounted for 58.8% of revenue in FY26.^[2]
The US contributes about 10-12% of revenue (Q3 FY26 call).^[4]
Two large airline customers were added for frozen foods in Q3 FY26.^[4]
3-4 jointly developed products were launched in Canada through Loblaws, with products in the pipeline with Whole Foods in the US (Q2 FY26).^[6]
Tetra Recart has moved its focus to exports (US, Russia, Europe) and is getting repeat orders from international customers.^[4][5]
Initial Tetra Recart exports were dispatched to Finland in FY25, and the GREENTOP brand expanded into the Gulf.^[3]

Expansion and capex

A 120 MTPA spray drying expansion costing about Rs 2.5 cr was under construction in Q3 FY26, with completion expected in about 9 months.^[4][2]
Tetra Recart had confirmed orders of about 400 MT, worth about Rs 8 cr, as of the Q4 FY26 call.^[2]
Pectin commercial orders from major customers were expected from Q1 FY27 (Q3 FY26 call).^[4]
A tomato paste order from a large conglomerate worth Rs 75-90 cr was due for dispatch by June 2026 (Q2 FY26 call).^[6]

Recent developments

In Q1 FY27, export volumes fell because of war-related freight and container problems, leaving about 1,800 MT of finished goods overdue for shipment.^[5]
In the 2026 season, the West Asia conflict diverted good-quality table mangoes to processors at favourable prices.^[2]
Tomato paste output was lower in the FY26 season because quality tomatoes were in short supply.^[2]
In Q3 FY26, US customers deferred call-offs because of tariff uncertainty, keeping tonnage flat at -0.6% YoY.^[4]
The 54th AGM is scheduled for 28 September 2026.^[7]

Market Cap

₹308 Cr

High / Low

₹88 / 41

Stock P/E

12.7

Price / Book

0.6

Book Value

₹77

EPS

₹3.8

No. of Shares

7.34 Cr

ROCE

8.9%

ROE

5.0%

OPM

10.0%

Debt / Equity

0.74

Sales

₹868 Cr

Net Profit

₹28 Cr

Promoter holding

25.4%

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Foods & Inns Ltd(FOODSIN)

About

Business verticals

Operations and capacity

Key operating numbers

Customers and markets

Expansion and capex

Recent developments

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