ADF Foods Limited (IN:ADFFOODS)
:ADFFOODS
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ADF Foods Limited
(ADFFOODS)
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Rating:71Outperform
Price Target:
₹259.00
▲(23.51% Upside)
Action:UpgradedDate:04/23/26
The score is driven primarily by solid financial performance (strong growth and low leverage) but held back by weaker cash flow (negative free cash flow). Technicals are supportive with a strong uptrend, though momentum is stretched (RSI/Stoch). Valuation is middling with a ~25 P/E and low dividend yield.
Positive Factors
High Gross Margin
A 57.9% gross margin signals durable pricing power and a favorable product mix. This margin cushion helps absorb commodity cost swings, supports continued investment in brands and distribution, and underpins sustainable operating profitability as volumes scale.
Negative Factors
Negative Free Cash Flow
Negative FCF driven by higher capex weakens internal funding capacity for working capital, dividends or acquisitions. If capex does not quickly translate into higher cash returns, the company may need external financing, increasing costs or constraining strategic optionality.
Read all positive and negative factors
Positive Factors
Negative Factors
High Gross Margin
A 57.9% gross margin signals durable pricing power and a favorable product mix. This margin cushion helps absorb commodity cost swings, supports continued investment in brands and distribution, and underpins sustainable operating profitability as volumes scale.
Read all positive factors
ADF Foods Limited (ADFFOODS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹29.38B
Dividend Yield0.57%
Average Volume (3M)9.67K
Price to Earnings (P/E)25.0
Beta (1Y)1.29
Revenue Growth10.52%
EPS Growth1.42%
CountryIN
Employees354
SectorConsumer Defensive
Sector Strength42
IndustryPackaged Foods
Share Statistics
EPS (TTM)2.04
Shares Outstanding109,863,594
10 Day Avg. Volume11,465
30 Day Avg. Volume9,673
Financial Highlights & Ratios
PEG Ratio-4.81
Price to Book (P/B)5.43
Price to Sales (P/S)4.53
P/FCF Ratio-699.44
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)10.7
Revenue Forecast (FY)₹7.61B
ADF Foods Limited Business Overview & Revenue Model
Company Description
ADF Foods Limited produces and sells various food products in India. It operates in two segments, Process and Preserved Food, and Agency Distribution Business. The company offers a range of products, including frozen snacks, breads, vegetables, re...
How the Company Makes Money
ADF Foods Limited primarily makes money by selling branded packaged food products through retail and distribution channels in India and overseas. Revenue is generated from (1) sale of shelf-stable products (e.g., ready-to-eat/ready-to-cook meals, ...
ADF Foods Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
75
Positive
Cash Flow
65
Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.04B | 5.90B | 5.01B | 4.44B | 4.06B | 3.61B |
| Gross Profit | 3.39B | 3.41B | 2.56B | 2.30B | 1.96B | 1.46B |
| EBITDA | 1.25B | 983.62M | 1.16B | 918.51M | 760.26M | 737.63M |
| Net Income | 768.35M | 692.56M | 752.86M | 560.99M | 480.98M | 500.69M |
Balance Sheet | ||||||
| Total Assets | 6.77B | 6.28B | 5.56B | 5.25B | 4.71B | 3.27B |
| Cash, Cash Equivalents and Short-Term Investments | 975.26M | 1.26B | 1.43B | 1.42B | 1.14B | 771.91M |
| Total Debt | 567.73M | 592.34M | 558.60M | 552.46M | 699.20M | 6.16M |
| Total Liabilities | 1.47B | 1.36B | 1.14B | 1.03B | 1.25B | 534.96M |
| Stockholders Equity | 5.29B | 4.93B | 4.41B | 4.19B | 3.43B | 2.74B |
Cash Flow | ||||||
| Free Cash Flow | -180.48M | -38.23M | 543.84M | 237.92M | -4.98M | 316.22M |
| Operating Cash Flow | 319.27M | 374.16M | 698.41M | 505.23M | 340.93M | 355.50M |
| Investing Cash Flow | 104.93M | -396.20M | 163.85M | -628.69M | -537.94M | -81.83M |
| Financing Cash Flow | -159.21M | -210.56M | -634.14M | -48.18M | 329.95M | -73.99M |
ADF Foods Limited Technical Analysis
Positive
209.70
Price Trends
196.88
Positive
198.99
Positive
216.30
Positive
Market Momentum
3.34
Negative
72.52
Negative
89.50
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADFFOODS, the sentiment is Positive. The current price of 209.7 is above the 20-day moving average (MA) of 181.34, above the 50-day MA of 196.88, and below the 200-day MA of 216.30, indicating a bullish trend. The MACD of 3.34 indicates Negative momentum. The RSI at 72.52 is Negative, neither overbought nor oversold. The STOCH value of 89.50 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ADFFOODS.
ADF Foods Limited Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | ₹29.38B | 24.99 | ― | 0.57% | 10.52% | 1.42% | |
65 Neutral | ₹30.18B | 38.77 | ― | ― | 0.04% | 16.37% | |
64 Neutral | ₹17.74B | 27.11 | ― | 0.82% | 8.86% | 9.72% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | ₹30.64B | 35.15 | ― | ― | 11.75% | 9.27% | |
60 Neutral | ₹17.90B | 28.74 | ― | 0.02% | 6.63% | 61.61% |
* Consumer Defensive Sector Average
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ADF Foods Limited Corporate Events
ADF Foods says no undisclosed events behind spike in share trading volumes
Apr 17, 2026
ADF Foods Limited has responded to a query from the National Stock Exchange of India regarding a significant increase in trading volumes of its shares, stating that it has been fully compliant with disclosure norms. The company said there is curre...
ADF Foods Gains Regulatory Nod for Fast‑Track Merger of Food Trading Subsidiaries
Apr 2, 2026
ADF Foods Limited has announced that India’s Regional Director for the North Western Region in Ahmedabad has approved a fast‑track scheme of amalgamation between its subsidiaries ADF Foods (India) Limited and Telluric Foods Limited und...
ADF Foods Starts Commercial Production at New Surat Frozen Foods Plant
Mar 28, 2026
ADF Foods Limited has begun commercial production of frozen food products at its new greenfield manufacturing facility located in the Gujarat Agro Infrastructure Mega Food Park in Mangrol, Surat. The plant, built with an initial investment of abou...
ADF Foods to Engage Analysts and Investors at Investec India Conference 2026
Mar 2, 2026
ADF Foods Limited has notified the stock exchanges that its officials will participate in the Investec India Promoter Founder Conference 2026, to be held in Mumbai on March 9, 2026, in physical mode. The interaction will be in a group meeting for...
ADF Foods’ Supply Chain Head Resigns; Company Says Operations Unaffected
Feb 28, 2026
ADF Foods Limited has announced the resignation of senior management executive Jeetendra Joshi, who served as General Manager – Supply Chain and was designated as Senior Management Personnel. His resignation is effective from the close of bu...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.