ADF Foods Limited — Investor Meet, 25-11-2025: Analysts/Institutional Investor Meet/Con. Call Updates

ADF Foods reported strong Q2 FY26 standalone revenue, up 11.5% YoY to INR 140.1 Cr, with PAT rising 39.1% to INR 29.7 Cr (21.2% margin). Consolidated revenue grew 0.8% to INR 162.6 Cr, and PAT increased 34.2% to INR 26.4 Cr (16.2% margin). Margin improvement stemmed from a better product mix, cost optimization, and favorable foreign exchange. Brands Ashoka and Truly Indian underwent refreshes and expanded store penetration, notably adding Costco in the US and Australia. The Surat Greenfield facility for frozen products is nearing completion and will commence operations in H2 FY26. Management is confident about sustaining growth, aiming for INR 1,000 Cr revenue by FY27, with EBITDA margins trending higher. The company maintains a net debt-free balance sheet with INR 89 Cr cash.