Freshara Agro Exports Ltd(FRESHARA)

NSE: FRESHARA

₹ 335-2.74%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 787 crUpdated: 24 Oct 2026

About

Freshara Agro Exports processes and exports pickled vegetables, mainly gherkins, along with baby corn, banderillas, olives and other preserved products, sourcing from contract farmers in South India. It reported FY26 revenue of Rs 342.29 Cr. It reports a single segment, export sales, and management put its share of India's gherkin export market at 10-14% in FY25.^[1][2][3][4]

Business and product mix

The company reports one segment, processed agri-exports, with export sales of Rs 25,063.55 lakhs in FY25.^[2]
Gherkins made up 82.83% of revenue in FY25, at Rs 20,759.30 lakhs.^[2]
Mixed products rose to 12.96% of revenue in FY25 from 9.1%. New lines include green peppercorns, corn kernels, olives and white onions.^[5]
In H1 FY26 the company launched premium pickled beetroot, aimed at the US market.^[4]
Retail packaging was under 20% of the business in FY25. Unit-II added white-label bottled and canned products, a line that had been about 10% of the business before.^[3]

Plants and capacity

Unit-II covers 8 acres and can process 75-100 tonnes a day. It began production in January 2025 and contributed about Rs 30-35 Cr in Q4 FY25.^[3]
Unit-II was running at 50-60% utilisation in H1 FY26 and supplied about 50% of revenue. The target was 70-80% in the Dec-Mar season.^[4]
Retail packing capacity can be expanded from 6,000 to 18,000 jars per hour. Vacuum packing and dehydration are planned.^[5]

Key operating numbers

Production was 15,625 MT in H1 FY26, up from 10,412 MT a year earlier. FCL container shipments rose to 1,028 from 685.^[4]
Gherkin volume grew 46.41% to 13,609 MT in H1 FY26 from 9,294 MT. Baby corn volume rose 64.18% and banderillas 147.78%.^[4]
Production was 30,755 MT in FY25, with 1,668 containers exported.^[3][5]
In H1 FY26 volume grew 45-50% but the topline rose only about 29-31%. Prices include freight, and freight fell from about 2,400-2,500 to about 1,200.^[4]
The order book stood at about Rs 91 Cr in H1 FY26, up from Rs 82 Cr in FY25. Monthly shipments run at about Rs 30 Cr.^[4][3]

Sourcing

Over 95% of raw produce came from contract farmers as of FY25. Most of them are in South India.^[2]
More than 4,000 contract farmers grow for the company across Tamil Nadu, Karnataka and Andhra Pradesh, as of FY25.^[3]

Customers and markets

Russia's share of exports rose to 35% in H1 FY26 from 18% a year earlier.^[4]
In FY25, Russia supplied 16.22% of revenue, down from 23.23% in FY24. Spain rose to 20.25% from 18.24%.^[5]
The top 10 customers made up 39.67% of sales in FY25.^[3]
The US was about 5-6% of sales in FY25, and a new contract was signed in Hungary.^[3]
As of FY25, the company was targeting new markets in Southeast Asia, Latin America and Africa.^[2]

Expansion and acquisitions

The company planned to buy the assets of a bankrupt Spanish olive processor: its factories, machines and brands. That business has about Rs 200 Cr revenue at half capacity and sells 97% to consumers. It would be a 100% subsidiary funded by debt.^[4]
Management guided FY27 combined revenue of about Rs 600 Cr, made up of about Rs 400 Cr from India and about Rs 200 Cr from Spain, as of H1 FY26.^[4]
Management planned to add another processing line at Unit-II after FY26 and aimed to reach about 50,000 MT of volume by FY27.^[3]

Governance and recent developments

The FY26 annual report proposes raising the borrowing limit from Rs 250 crore to Rs 400 crore, for working capital, capex and expansion.^[6]
The CMD and two whole-time directors from the promoter family are to be re-appointed for 5 years from 23 Nov 2026.^[6]
Promoter holdings per the FY26 annual report: Junaid Ahmed 80,75,000 shares, Iqbal Ahmed 57,80,000 and Asma Syed 1,70,000.^[6]
The FY26 results earnings call was set for 4 June 2026.^[7]

Market Cap

₹787 Cr

High / Low

₹494 / 130

Stock P/E

22.6

Price / Book

0.0

Book Value

₹75

EPS

₹16.0

No. of Shares

2.35 Cr

ROCE

16.2%

ROE

21.4%

OPM

16.3%

Debt / Equity

1.03

Sales

₹342 Cr

Net Profit

₹38 Cr

Promoter holding

62.6%

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