ADF Foods Limited — Investor Meet, 12-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

ADF Foods reported record Q3 FY26 consolidated revenues of INR191 Cr, up 29.5% YoY, driven by strong brand penetration and new listings. Consolidated EBITDA hit INR37.1 Cr (19.4% margin), up 40.6% YoY. PAT (excluding exceptional items) rose 55.7% YoY to INR29.2 Cr. Volume growth contributed approximately 70% to this revenue increase.

Phase 1 of the new Surat plant is set for Q4 FY26, boosting capacity and introducing new frozen product lines for both Ashoka and the rapidly growing Truly Indian brands, which are now in over 2,000 US stores. US demand remains robust despite past tariff challenges. Management projects FY27 revenue of INR925-1,000 Cr, aiming for high-teen EBITDA margins, with continued investment in Truly Indian's brand building for about three more years. The overall sentiment is cautiously optimistic.