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ADF Foods Limited
(ADFFOODS)
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Rating:57Neutral
Price Target:
₹249.00
▲(18.74% Upside)
Action:Reiterated
Date:07/31/26
The score is primarily supported by solid fundamentals—good FY2026 revenue growth, healthy margins, and low leverage—but is capped by weak cash flow conversion and negative free cash flow. Technicals are a notable near-term headwind with the stock trading below key short-term moving averages, and valuation is also a constraint given the high P/E and low dividend yield.
Positive Factors
Revenue and earnings growth
FY2026 revenue growth and sharply higher net income indicate improving demand and operating scale across the business. If maintained, this combination can reinforce reinvestment capacity and strengthen the company’s ability to build branded-food distribution over the next several quarters.
Negative Factors
Weak cash conversion
Operating cash flow converting only about half of reported net income points to a meaningful gap between accounting earnings and cash generation. If this persists, it could constrain internally funded expansion and make working-capital management more important to sustainable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue and earnings growth
FY2026 revenue growth and sharply higher net income indicate improving demand and operating scale across the business. If maintained, this combination can reinforce reinvestment capacity and strengthen the company’s ability to build branded-food distribution over the next several quarters.
Read all positive factors
ADF Foods Limited (ADFFOODS) vs. iShares MSCI India ETF (INDA)
Market Cap
₹26.91B
Dividend Yield0.49%
Average Volume (3M)6.09K
Price to Earnings (P/E)29.2
Beta (1Y)1.15
Revenue Growth19.44%
EPS Growth31.16%
CountryIN
Employees354
SectorGeneral
Sector StrengthN/A
IndustryPackaged Foods
Share Statistics
EPS (TTM)8.37
Shares Outstanding109,863,594
10 Day Avg. Volume4,222
30 Day Avg. Volume6,094
Financial Highlights & Ratios
PEG Ratio0.68
Price to Book (P/B)3.21
Price to Sales (P/S)2.69
P/FCF Ratio-75.60
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)12.6
Revenue Forecast (FY)₹8.00B
ADF Foods Limited Business Overview & Revenue Model
Company Description
Based in Mumbai, India, ADF Foods Limited is a prominent producer and distributor of a diverse array of food products. Established in 1932, the company's operations are strategically divided into two core segments: Process and Preserved Food, and ...
How the Company Makes Money
ADF Foods makes money primarily by selling branded packaged food products to customers through domestic distribution and export channels. Its revenue model is based on (1) branded product sales across multiple categories (e.g., ready-to-eat/ready-...
ADF Foods Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
86
Very Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.18B | 6.83B | 5.90B | 5.01B | 4.44B | 4.06B |
| Gross Profit | 3.59B | 3.39B | 3.41B | 2.56B | 2.30B | 1.96B |
| EBITDA | 1.48B | 1.44B | 983.62M | 1.16B | 918.51M | 760.26M |
| Net Income | 919.64M | 899.24M | 692.56M | 752.86M | 560.99M | 480.98M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 7.55B | 6.28B | 5.56B | 5.25B | 4.71B |
| Cash, Cash Equivalents and Short-Term Investments | 856.85M | 856.85M | 1.26B | 1.43B | 1.42B | 1.14B |
| Total Debt | 0.00 | 550.68M | 592.34M | 558.60M | 552.46M | 699.20M |
| Total Liabilities | -5.72B | 1.83B | 1.36B | 1.14B | 1.03B | 1.25B |
| Stockholders Equity | 5.72B | 5.72B | 4.93B | 4.41B | 4.19B | 3.43B |
Cash Flow | ||||||
| Free Cash Flow | -180.48M | -242.80M | -38.23M | 543.84M | 237.92M | -4.98M |
| Operating Cash Flow | 319.27M | 585.10M | 374.16M | 698.41M | 505.23M | 340.93M |
| Investing Cash Flow | 104.93M | -127.40M | -396.20M | 163.85M | -628.69M | -537.94M |
| Financing Cash Flow | -159.21M | -233.73M | -210.56M | -634.14M | -48.18M | 329.95M |
ADF Foods Limited Technical Analysis
Negative
209.70
Price Trends
268.76
Negative
280.68
Negative
249.16
Negative
Market Momentum
-9.22
Positive
35.40
Neutral
21.77
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADFFOODS, the sentiment is Negative. The current price of 209.7 is below the 20-day moving average (MA) of 267.81, below the 50-day MA of 268.76, and below the 200-day MA of 249.16, indicating a bearish trend. The MACD of -9.22 indicates Positive momentum. The RSI at 35.40 is Neutral, neither overbought nor oversold. The STOCH value of 21.77 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ADFFOODS.
ADF Foods Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹23.97B | 66.55 | ― | 0.11% | -1.17% | -4.11% | |
63 Neutral | ₹115.58B | 44.62 | ― | 0.27% | 13.81% | 27.77% | |
58 Neutral | ₹24.94B | 218.34 | ― | 0.05% | 6.42% | ― | |
57 Neutral | ₹26.91B | 29.22 | ― | 0.49% | 19.44% | 31.16% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹57.12B | 38.41 | ― | 0.70% | 11.11% | 6.30% | |
52 Neutral | ₹30.21B | 36.03 | ― | 0.41% | 12.01% | ― |
* General Sector Average
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ADF Foods Limited Corporate Events
ADF Foods Closes Trading Window Ahead of Key Disclosures
Sep 26, 2026
ADF Foods Limited operates in the packaged foods industry, manufacturing and marketing a range of processed food products for domestic and international markets. The company is listed on the National Stock Exchange of India and BSE, where its equi...
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.