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Earnings Call

DSM Fresh Foods Earnings Call: Key Takeaways

DSM Fresh Foods (Zappfresh) reports robust H2 FY26 scaling with revenue doubling YoY to ₹125cr and FY26 EBITDA nearly doubling to ₹31cr.

Why this was an Alfa AlertManagement explicitly guides for 70-80% YoY revenue growth for the next single year (FY27).
Highlights
Revenue growthFY26 growth of 69%; H2 FY26 growth of ~100% YoY.
MarginsEBITDA margins improved to 12.5-13.5% due to scale and efficiencies.
Order bookMeevaa brand saw 5,000 orders within 48 hours of launch.
Demand visibilityStrong traction in B2B HoReCa and omnichannel fresh protein.
Management confidenceHigh; visibility across core business and new growth initiatives.

Growth

FY26 revenue grew 69% YoY; PBT increased significantly to ₹43.2cr from ₹11.7cr in FY25.

Outlook

Management targets 70-80% revenue growth for FY27, driven by Meevaa brand and retail expansion.

Risks

Macroeconomic factors including war affecting exports, shipping, and raw material cost pressures.

Last quarter's promises, checked

Delivered

  • Guided H2 to outperform H1 → H2 revenue ₹125cr vs H1 ₹95.85cr (= BEAT)
  • Guided strong growth in Mumbai/West → Mumbai revenue share grew to 20-21% (= BEAT)
  • Targeted 2 inorganic acquisitions → Acquired Meevaa Foods (= BEAT)

Partly delivered

  • Targeted fish/mutton margin improvement → Fish margin 23%, Mutton 15% (= PARTIAL)
Source

Earnings Call filed with BSE, BSE: 544568. Summary written with AI assistance from the document.

Read the document ↗

DSM Fresh Foods Ltd: key numbers

Share price
₹49.36
Market cap
₹110.0 Cr
Revenue (annual)
₹220.8 Cr
Net profit (annual)
₹14.34 Cr
P/E (TTM)
7.7×Sector 29.0×
Promoter holding
28.16%
FII holding
1.25%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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Zappfresh board approved shifting its registered office to Haryana and reclassifying its authorised share capital. It also approved an ESOP scheme and related party transaction remuneration.