ADF Foods Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: April 30, 2025, 10:11 pm

Market Cap	2,437 Cr.
Current Price	222
High / Low	354/197
Stock P/E	31.3
Book Value	42.2
Dividend Yield	0.54 %
ROCE	19.5 %
ROE	16.3 %
Face Value	2.00
PEG Ratio	4.10

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for ADF Foods Ltd

Competitors of ADF Foods Ltd

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Mishtann Foods Ltd	497 Cr.	4.61	19.1/4.28	1.44	7.38	0.02 %	88.7 %	98.7 %	1.00
Mrs Bectors Food Specialities Ltd	9,160 Cr.	1,490	2,200/1,188	64.2	182	0.22 %	25.4 %	23.2 %	10.0
Nakoda Group of Industries Ltd	44.7 Cr.	32.0	53.6/31.0		11.8	0.00 %	1.80 %	12.1 %	10.0
ICL Organic Dairy Products Ltd	23.8 Cr.	39.7	/	1,192	20.1	0.00 %	0.25 %	0.17 %	10.0
Himalaya Food International Ltd	94.9 Cr.	16.4	28.3/10.1	19.5	24.4	0.00 %	3.63 %	3.61 %	10.0
Industry Average	20,040.76 Cr	832.29		165.58	119.28	0.22%	18.63%	20.64%	6.56

All Competitor Stocks of ADF Foods Ltd

Quarterly Result

Metric	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Sales	110	117	108	97	107	123	123	112	125	130	154	122	161
Expenses	91	97	93	88	89	96	97	90	103	103	119	102	134
Operating Profit	19	20	15	9	18	27	26	22	22	27	34	20	28
OPM %	17%	17%	14%	9%	17%	22%	21%	20%	17%	21%	22%	16%	17%
Other Income	1	2	4	4	4	3	1	2	3	4	2	5	4
Interest	0	1	1	1	1	1	1	1	1	1	1	1	1
Depreciation	2	3	3	3	3	4	4	4	4	4	4	4	5
Profit before tax	18	18	15	9	18	25	23	20	21	26	31	20	26
Tax %	29%	24%	26%	18%	24%	27%	30%	27%	27%	27%	19%	26%	25%
Net Profit	12	14	11	8	14	19	16	15	15	19	25	14	20
EPS in Rs	1.24	1.33	1.07	0.70	1.24	1.69	1.49	1.37	1.37	1.76	2.35	1.37	1.79

Last Updated: February 13, 2025, 3:32 pm

Below is a detailed analysis of the quarterly data for ADF Foods Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Sales, as of Sep 2024, the value is 161.00 Cr.. The value appears strong and on an upward trend. It has increased from 122.00 Cr. (Jun 2024) to 161.00 Cr., marking an increase of 39.00 Cr..
For Expenses, as of Sep 2024, the value is 134.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 102.00 Cr. (Jun 2024) to 134.00 Cr., marking an increase of 32.00 Cr..
For Operating Profit, as of Sep 2024, the value is 28.00 Cr.. The value appears strong and on an upward trend. It has increased from 20.00 Cr. (Jun 2024) to 28.00 Cr., marking an increase of 8.00 Cr..
For OPM %, as of Sep 2024, the value is 17.00%. The value appears strong and on an upward trend. It has increased from 16.00% (Jun 2024) to 17.00%, marking an increase of 1.00%.
For Other Income, as of Sep 2024, the value is 4.00 Cr.. The value appears to be declining and may need further review. It has decreased from 5.00 Cr. (Jun 2024) to 4.00 Cr., marking a decrease of 1.00 Cr..
For Interest, as of Sep 2024, the value is 1.00 Cr.. The value remains steady. There is no change compared to the previous period (Jun 2024) which recorded 1.00 Cr..
For Depreciation, as of Sep 2024, the value is 5.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 4.00 Cr. (Jun 2024) to 5.00 Cr., marking an increase of 1.00 Cr..
For Profit before tax, as of Sep 2024, the value is 26.00 Cr.. The value appears strong and on an upward trend. It has increased from 20.00 Cr. (Jun 2024) to 26.00 Cr., marking an increase of 6.00 Cr..
For Tax %, as of Sep 2024, the value is 25.00%. The value appears to be improving (decreasing) as expected. It has decreased from 26.00% (Jun 2024) to 25.00%, marking a decrease of 1.00%.
For Net Profit, as of Sep 2024, the value is 20.00 Cr.. The value appears strong and on an upward trend. It has increased from 14.00 Cr. (Jun 2024) to 20.00 Cr., marking an increase of 6.00 Cr..
For EPS in Rs, as of Sep 2024, the value is 1.79. The value appears strong and on an upward trend. It has increased from 1.37 (Jun 2024) to 1.79, marking an increase of 0.42.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: March 7, 2025, 9:23 pm

Metric	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Sales	179	208	204	210	201	201	231	285	370	421	450	520	584
Expenses	162	192	188	190	179	182	202	232	302	354	369	415	476
Operating Profit	17	16	16	20	22	19	29	53	68	67	81	105	108
OPM %	9%	8%	8%	9%	11%	10%	13%	19%	18%	16%	18%	20%	18%
Other Income	11	4	9	4	6	18	14	9	6	9	11	11	14
Interest	3	2	1	1	1	1	1	1	1	2	3	2	3
Depreciation	7	11	11	12	5	4	4	6	6	9	14	16	18
Profit before tax	17	7	12	11	23	32	38	55	67	65	75	98	102
Tax %	21%	32%	24%	39%	36%	44%	33%	22%	25%	26%	26%	25%
Net Profit	14	5	9	7	15	18	25	43	50	49	56	74	78
EPS in Rs	1.28	0.51	0.80	0.60	1.38	1.70	2.53	4.27	5.00	4.59	5.10	6.85	7.22
Dividend Payout %	24%	59%	38%	0%	37%	0%	0%	14%	12%	18%	20%	18%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2013-2014	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024
YoY Net Profit Growth (%)	-64.29%	80.00%	-22.22%	114.29%	20.00%	38.89%	72.00%	16.28%	-2.00%	14.29%	32.14%
Change in YoY Net Profit Growth (%)	0.00%	144.29%	-102.22%	136.51%	-94.29%	18.89%	33.11%	-55.72%	-18.28%	16.29%	17.86%

ADF Foods Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:	10%
5 Years:	18%
3 Years:	12%
TTM:	19%

Compounded Profit Growth
10 Years:	32%
5 Years:	22%
3 Years:	12%
TTM:	20%

Stock Price CAGR
10 Years:	33%
5 Years:	40%
3 Years:	14%
1 Year:	-2%

Return on Equity
10 Years:	14%
5 Years:	17%
3 Years:	15%
Last Year:	16%

Last Updated: Unknown

Balance Sheet

Last Updated: December 14, 2024, 4:05 pm

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Sep 2024
Equity Capital	22	22	22	22	22	22	20	20	20	21	22	22	22
Reserves	127	126	131	136	145	153	151	184	253	322	397	419	441
Borrowings	43	28	18	6	5	1	0	23	1	70	55	56	3
Other Liabilities	23	25	24	21	19	30	23	37	50	55	46	53	120
Total Liabilities	215	201	194	185	191	205	195	265	324	468	520	550	586
Fixed Assets	87	80	93	83	81	80	69	77	77	160	175	182	178
CWIP	0	9	2	0	1	0	1	2	0	0	7	5	12
Investments	30	21	8	8	8	0	0	18	17	39	80	77	76
Other Assets	98	91	92	94	100	125	125	167	229	268	259	285	320
Total Assets	215	201	194	185	191	205	195	265	324	468	520	550	586

Below is a detailed analysis of the balance sheet data for ADF Foods Ltd based on the most recent figures (Sep 2024) and their trends compared to the previous period:

For Equity Capital, as of Sep 2024, the value is ₹22.00 Cr.. The value remains steady. There is no change compared to the previous period (Mar 2024) which recorded 22.00 Cr..
For Reserves, as of Sep 2024, the value is ₹441.00 Cr.. The value appears strong and on an upward trend. It has increased from 419.00 Cr. (Mar 2024) to ₹441.00 Cr., marking an increase of 22.00 Cr..
For Borrowings, as of Sep 2024, the value is ₹3.00 Cr.. The value appears to be improving (decreasing). Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has decreased from 56.00 Cr. (Mar 2024) to ₹3.00 Cr., marking a decrease of 53.00 Cr..
For Other Liabilities, as of Sep 2024, the value is ₹120.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 53.00 Cr. (Mar 2024) to ₹120.00 Cr., marking an increase of 67.00 Cr..
For Total Liabilities, as of Sep 2024, the value is ₹586.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 550.00 Cr. (Mar 2024) to ₹586.00 Cr., marking an increase of 36.00 Cr..
For Fixed Assets, as of Sep 2024, the value is ₹178.00 Cr.. The value appears to be declining and may need further review. It has decreased from 182.00 Cr. (Mar 2024) to ₹178.00 Cr., marking a decrease of 4.00 Cr..
For CWIP, as of Sep 2024, the value is ₹12.00 Cr.. The value appears strong and on an upward trend. It has increased from 5.00 Cr. (Mar 2024) to ₹12.00 Cr., marking an increase of 7.00 Cr..
For Investments, as of Sep 2024, the value is ₹76.00 Cr.. The value appears to be declining and may need further review. It has decreased from 77.00 Cr. (Mar 2024) to ₹76.00 Cr., marking a decrease of 1.00 Cr..
For Other Assets, as of Sep 2024, the value is ₹320.00 Cr.. The value appears strong and on an upward trend. It has increased from 285.00 Cr. (Mar 2024) to ₹320.00 Cr., marking an increase of 35.00 Cr..
For Total Assets, as of Sep 2024, the value is ₹586.00 Cr.. The value appears strong and on an upward trend. It has increased from 550.00 Cr. (Mar 2024) to ₹586.00 Cr., marking an increase of 36.00 Cr..

Notably, the Reserves (441.00 Cr.) exceed the Borrowings (3.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Cash from Operating Activity +	2	18	6	15	17	24	20	31	36	34	51	70
Cash from Investing Activity +	-23	5	18	1	-4	4	-1	-39	-9	-53	-60	13
Cash from Financing Activity +	18	-21	-21	-18	-12	-11	-32	14	-7	33	-5	-63
Net Cash Flow	-3	3	3	-1	1	17	-14	6	20	14	-14	20

Free Cash Flow

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Free Cash Flow	-26.00	-12.00	-2.00	14.00	17.00	18.00	29.00	30.00	67.00	-3.00	26.00	49.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Debtor Days	76	53	58	63	62	78	69	68	64	61	76	76
Inventory Days	156	111	98	85	104	94	131	158	143	156	132	97
Days Payable	52	51	37	37	44	55	52	62	68	65	47	44
Cash Conversion Cycle	180	113	120	112	122	117	148	165	139	153	162	130
Working Capital Days	127	84	78	96	106	104	117	111	111	118	120	113
ROCE %	7%	4%	6%	7%	14%	19%	23%	28%	27%	19%	17%	20%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoters	33.58%	36.59%	36.60%	36.60%	36.50%	36.50%	36.29%	36.28%	36.42%	36.33%	36.17%	36.14%
FIIs	9.66%	9.31%	9.37%	9.44%	9.38%	9.46%	9.57%	9.57%	9.55%	9.51%	9.55%	10.06%
DIIs	1.59%	6.03%	7.03%	7.67%	7.88%	7.91%	7.91%	8.01%	8.64%	8.65%	8.81%	23.65%
Public	55.17%	48.07%	47.00%	46.30%	46.24%	46.12%	46.24%	46.15%	45.39%	45.50%	45.48%	30.16%
No. of Shareholders	27,506	27,599	28,703	26,554	26,383	26,151	31,526	39,812	40,411	38,838	44,142	41,996

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 24	Mar 23	Mar 22	Mar 21	Mar 20
FaceValue	2.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	6.85	25.62	23.97	25.01	21.36
Diluted EPS (Rs.)	6.85	25.62	23.33	23.96	21.36
Cash EPS (Rs.)	8.00	31.14	26.99	27.43	23.68
Book Value[Excl.RevalReserv]/Share (Rs.)	39.55	188.63	161.91	134.07	100.20
Book Value[Incl.RevalReserv]/Share (Rs.)	39.55	188.63	161.91	134.07	100.20
Revenue From Operations / Share (Rs.)	46.56	201.46	197.34	181.03	139.80
PBDIT / Share (Rs.)	10.38	41.09	35.62	36.16	30.48
PBIT / Share (Rs.)	8.98	34.95	31.36	33.27	27.77
PBT / Share (Rs.)	8.78	33.76	30.52	32.70	26.95
Net Profit / Share (Rs.)	6.60	24.99	22.73	24.54	20.97
NP After MI And SOA / Share (Rs.)	6.74	25.10	22.53	24.54	20.97
PBDIT Margin (%)	22.29	20.39	18.04	19.97	21.79
PBIT Margin (%)	19.29	17.34	15.89	18.37	19.86
PBT Margin (%)	18.84	16.75	15.46	18.06	19.27
Net Profit Margin (%)	14.18	12.40	11.52	13.55	14.99
NP After MI And SOA Margin (%)	14.46	12.45	11.41	13.55	14.99
Return on Networth / Equity (%)	17.06	13.38	14.02	18.30	20.92
Return on Capital Employeed (%)	19.94	16.20	16.13	24.07	26.58
Return On Assets (%)	13.53	10.68	10.22	15.31	15.73
Long Term Debt / Equity (X)	0.00	0.00	0.03	0.00	0.00
Total Debt / Equity (X)	0.00	0.00	0.04	0.00	0.11
Asset Turnover Ratio (%)	0.96	0.75	0.84	0.79	0.79
Current Ratio (X)	6.67	7.66	5.37	5.29	3.02
Quick Ratio (X)	5.66	6.19	4.00	3.68	2.09
Inventory Turnover Ratio (X)	2.91	2.54	2.22	2.52	2.63
Dividend Payout Ratio (NP) (%)	72.96	15.66	0.00	0.00	14.04
Dividend Payout Ratio (CP) (%)	60.44	12.58	0.00	0.00	12.43
Earning Retention Ratio (%)	27.04	84.34	0.00	0.00	85.96
Cash Earning Retention Ratio (%)	39.56	87.42	0.00	0.00	87.57
Interest Coverage Ratio (X)	49.65	34.62	42.02	63.59	46.60
Interest Coverage Ratio (Post Tax) (X)	32.58	22.05	27.82	44.17	33.30
Enterprise Value (Cr.)	2000.01	1600.23	1592.41	1754.86	334.08
EV / Net Operating Revenue (X)	3.84	3.55	3.78	4.75	1.17
EV / EBITDA (X)	17.24	17.42	20.95	23.79	5.37
MarketCap / Net Operating Revenue (X)	3.97	3.69	3.92	4.93	1.22
Retention Ratios (%)	27.03	84.33	0.00	0.00	85.95
Price / BV (X)	4.69	3.96	4.82	6.65	1.70
Price / Net Operating Revenue (X)	3.97	3.69	3.92	4.93	1.22
EarningsYield	0.03	0.03	0.02	0.02	0.12

After reviewing the key financial ratios for ADF Foods Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 24, the value is 2.00. This value is within the healthy range. It has decreased from 10.00 (Mar 23) to 2.00, marking a decrease of 8.00.
For Basic EPS (Rs.), as of Mar 24, the value is 6.85. This value is within the healthy range. It has decreased from 25.62 (Mar 23) to 6.85, marking a decrease of 18.77.
For Diluted EPS (Rs.), as of Mar 24, the value is 6.85. This value is within the healthy range. It has decreased from 25.62 (Mar 23) to 6.85, marking a decrease of 18.77.
For Cash EPS (Rs.), as of Mar 24, the value is 8.00. This value is within the healthy range. It has decreased from 31.14 (Mar 23) to 8.00, marking a decrease of 23.14.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 39.55. It has decreased from 188.63 (Mar 23) to 39.55, marking a decrease of 149.08.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 24, the value is 39.55. It has decreased from 188.63 (Mar 23) to 39.55, marking a decrease of 149.08.
For Revenue From Operations / Share (Rs.), as of Mar 24, the value is 46.56. It has decreased from 201.46 (Mar 23) to 46.56, marking a decrease of 154.90.
For PBDIT / Share (Rs.), as of Mar 24, the value is 10.38. This value is within the healthy range. It has decreased from 41.09 (Mar 23) to 10.38, marking a decrease of 30.71.
For PBIT / Share (Rs.), as of Mar 24, the value is 8.98. This value is within the healthy range. It has decreased from 34.95 (Mar 23) to 8.98, marking a decrease of 25.97.
For PBT / Share (Rs.), as of Mar 24, the value is 8.78. This value is within the healthy range. It has decreased from 33.76 (Mar 23) to 8.78, marking a decrease of 24.98.
For Net Profit / Share (Rs.), as of Mar 24, the value is 6.60. This value is within the healthy range. It has decreased from 24.99 (Mar 23) to 6.60, marking a decrease of 18.39.
For NP After MI And SOA / Share (Rs.), as of Mar 24, the value is 6.74. This value is within the healthy range. It has decreased from 25.10 (Mar 23) to 6.74, marking a decrease of 18.36.
For PBDIT Margin (%), as of Mar 24, the value is 22.29. This value is within the healthy range. It has increased from 20.39 (Mar 23) to 22.29, marking an increase of 1.90.
For PBIT Margin (%), as of Mar 24, the value is 19.29. This value is within the healthy range. It has increased from 17.34 (Mar 23) to 19.29, marking an increase of 1.95.
For PBT Margin (%), as of Mar 24, the value is 18.84. This value is within the healthy range. It has increased from 16.75 (Mar 23) to 18.84, marking an increase of 2.09.
For Net Profit Margin (%), as of Mar 24, the value is 14.18. This value exceeds the healthy maximum of 10. It has increased from 12.40 (Mar 23) to 14.18, marking an increase of 1.78.
For NP After MI And SOA Margin (%), as of Mar 24, the value is 14.46. This value is within the healthy range. It has increased from 12.45 (Mar 23) to 14.46, marking an increase of 2.01.
For Return on Networth / Equity (%), as of Mar 24, the value is 17.06. This value is within the healthy range. It has increased from 13.38 (Mar 23) to 17.06, marking an increase of 3.68.
For Return on Capital Employeed (%), as of Mar 24, the value is 19.94. This value is within the healthy range. It has increased from 16.20 (Mar 23) to 19.94, marking an increase of 3.74.
For Return On Assets (%), as of Mar 24, the value is 13.53. This value is within the healthy range. It has increased from 10.68 (Mar 23) to 13.53, marking an increase of 2.85.
For Long Term Debt / Equity (X), as of Mar 24, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 23) which recorded 0.00.
For Total Debt / Equity (X), as of Mar 24, the value is 0.00. This value is within the healthy range. There is no change compared to the previous period (Mar 23) which recorded 0.00.
For Asset Turnover Ratio (%), as of Mar 24, the value is 0.96. It has increased from 0.75 (Mar 23) to 0.96, marking an increase of 0.21.
For Current Ratio (X), as of Mar 24, the value is 6.67. This value exceeds the healthy maximum of 3. It has decreased from 7.66 (Mar 23) to 6.67, marking a decrease of 0.99.
For Quick Ratio (X), as of Mar 24, the value is 5.66. This value exceeds the healthy maximum of 2. It has decreased from 6.19 (Mar 23) to 5.66, marking a decrease of 0.53.
For Inventory Turnover Ratio (X), as of Mar 24, the value is 2.91. This value is below the healthy minimum of 4. It has increased from 2.54 (Mar 23) to 2.91, marking an increase of 0.37.
For Dividend Payout Ratio (NP) (%), as of Mar 24, the value is 72.96. This value exceeds the healthy maximum of 50. It has increased from 15.66 (Mar 23) to 72.96, marking an increase of 57.30.
For Dividend Payout Ratio (CP) (%), as of Mar 24, the value is 60.44. This value exceeds the healthy maximum of 50. It has increased from 12.58 (Mar 23) to 60.44, marking an increase of 47.86.
For Earning Retention Ratio (%), as of Mar 24, the value is 27.04. This value is below the healthy minimum of 40. It has decreased from 84.34 (Mar 23) to 27.04, marking a decrease of 57.30.
For Cash Earning Retention Ratio (%), as of Mar 24, the value is 39.56. This value is below the healthy minimum of 40. It has decreased from 87.42 (Mar 23) to 39.56, marking a decrease of 47.86.
For Interest Coverage Ratio (X), as of Mar 24, the value is 49.65. This value is within the healthy range. It has increased from 34.62 (Mar 23) to 49.65, marking an increase of 15.03.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 24, the value is 32.58. This value is within the healthy range. It has increased from 22.05 (Mar 23) to 32.58, marking an increase of 10.53.
For Enterprise Value (Cr.), as of Mar 24, the value is 2,000.01. It has increased from 1,600.23 (Mar 23) to 2,000.01, marking an increase of 399.78.
For EV / Net Operating Revenue (X), as of Mar 24, the value is 3.84. This value exceeds the healthy maximum of 3. It has increased from 3.55 (Mar 23) to 3.84, marking an increase of 0.29.
For EV / EBITDA (X), as of Mar 24, the value is 17.24. This value exceeds the healthy maximum of 15. It has decreased from 17.42 (Mar 23) to 17.24, marking a decrease of 0.18.
For MarketCap / Net Operating Revenue (X), as of Mar 24, the value is 3.97. This value exceeds the healthy maximum of 3. It has increased from 3.69 (Mar 23) to 3.97, marking an increase of 0.28.
For Retention Ratios (%), as of Mar 24, the value is 27.03. This value is below the healthy minimum of 30. It has decreased from 84.33 (Mar 23) to 27.03, marking a decrease of 57.30.
For Price / BV (X), as of Mar 24, the value is 4.69. This value exceeds the healthy maximum of 3. It has increased from 3.96 (Mar 23) to 4.69, marking an increase of 0.73.
For Price / Net Operating Revenue (X), as of Mar 24, the value is 3.97. This value exceeds the healthy maximum of 3. It has increased from 3.69 (Mar 23) to 3.97, marking an increase of 0.28.
For EarningsYield, as of Mar 24, the value is 0.03. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 23) which recorded 0.03.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of ADF Foods Ltd as of April 30, 2025 is: 173.17

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of April 30, 2025, ADF Foods Ltd is Overvalued by 22.00% compared to the current share price 222.00

Intrinsic Value of ADF Foods Ltd as of April 30, 2025 is: 186.37

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of April 30, 2025, ADF Foods Ltd is Overvalued by 16.05% compared to the current share price 222.00

Last 5 Year EPS CAGR: 7.63%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 15.92%, which is a positive sign. The company has higher reserves (229.62 cr) compared to borrowings (23.77 cr), indicating strong financial stability. The company has shown consistent growth in sales (312.62 cr) and profit (46.31 cr) over the years.	The stock has a high average Working Capital Days of 107.08, which may not be favorable. The stock has a high average Cash Conversion Cycle of 138.42, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in ADF Foods Ltd:
1. Net Profit Margin: 14.18%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 19.94% (Industry Average ROCE: 18.05%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 17.06% (Industry Average ROE: 19.99%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 32.58
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 5.66
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 31.3 (Industry average Stock P/E: 139.71)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

ADF Foods Ltd. is a Public Limited Listed company incorporated on 27/08/1990 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L15400GJ1990PLC014265 and registration number is 014265. Currently Company is involved in the business activities of Manufacture of pickles, chutney etc.. Company's Total Operating Revenue is Rs. 414.12 Cr. and Equity Capital is Rs. 22.35 Cr. for the Year ended 31/03/2024.

INDUSTRY	ADDRESS	CONTACT
Food Processing - Bakery/Dairy/Fruits/Others	83/86, GIDC Industrial Estate, Nadiad Gujarat 387001	nadiadfactory@adf-foods.com http://www.adf-foods.com

Management
Name	Position Held
Mr. Bimal R Thakkar	Chairman & M.D & CEO
Mr. Arjuun Guuha	Whole Time Director
Mr. Jay M Mehta	Non Executive Director
Mr. Viren A Merchant	Non Executive Director
Ms. Deepa Misra Harris	Independent Director
Mr. Ravinder Kumar Jain	Independent Director
Mr. Chandir G Gidwani	Independent Director
Mr. Pheroze Mistry	Independent Director
Mr. M M Srivastava	Addnl. & Ind.Director

FAQ

What is the intrinsic value of ADF Foods Ltd?

ADF Foods Ltd's intrinsic value (as of 30 April 2025) is ₹173.17 — 22.00% lower the current market price of 222.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's 2,437 Cr. market cap, FY2025-2026 high/low of ₹354/197, reserves of 441 Cr, and liabilities of 586 Cr.

What is the Market Cap of ADF Foods Ltd?

The Market Cap of ADF Foods Ltd is 2,437 Cr..

What is the current Stock Price of ADF Foods Ltd as on 30 April 2025?

The current stock price of ADF Foods Ltd as on 30 April 2025 is 222.

What is the High / Low of ADF Foods Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of ADF Foods Ltd stocks is ₹354/197.

What is the Stock P/E of ADF Foods Ltd?

The Stock P/E of ADF Foods Ltd is 31.3.

What is the Book Value of ADF Foods Ltd?

The Book Value of ADF Foods Ltd is 42.2.

What is the Dividend Yield of ADF Foods Ltd?

The Dividend Yield of ADF Foods Ltd is 0.54 %.

What is the ROCE of ADF Foods Ltd?

The ROCE of ADF Foods Ltd is 19.5 %.

What is the ROE of ADF Foods Ltd?

The ROE of ADF Foods Ltd is 16.3 %.

What is the Face Value of ADF Foods Ltd?

The Face Value of ADF Foods Ltd is 2.00.