Foods & Inns Limited — Investor Meet, 17-02-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Foods & Inns reported Q3 FY26 with flat sales tonnage, primarily due to deferred US customer call-offs amid tariff uncertainties, now stabilizing. Average realizations were lower due to sales from inventory produced at reduced raw material costs, yet gross margins remained unaffected. The frozen food business saw strong growth, with Q3 volumes up 35% YoY and 9-month volumes up 37% YoY, driven by new airline customers.

Management targets 10-15% absolute growth in EBITDA and gross profit. Strategic investments in spray drying capacity expansion, Tetra Recart, and the Pectin project are underway for future growth. The company is diversifying into non-mango products to mitigate seasonality and optimize working capital. An FY25 PLI claim, expected to exceed last year's INR25 crore, awaits disbursement. Management is confident in driving sustainable and profitable growth.