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Last Updated: April 2, 2026, 2:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 519183 | NSE: ADFFOODS

ADF Foods Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹125.54Overvalued by 29.87%vs CMP ₹179.00

P/E (23.1) × ROE (14.0%) × BV (₹48.20) × DY (0.67%)

₹98.10Overvalued by 45.20%vs CMP ₹179.00
MoS: -82.5% (Negative)Confidence: 68/100 (Moderate)Models: All 9: Overvalued
ModelCategoryValueWeightSignal
PE-ROEEarnings₹137.8622%Over (-23%)
Graham NumberEarnings₹89.1616%Over (-50.2%)
Earnings PowerEarnings₹50.1713%Over (-72%)
DCFCash Flow₹118.8713%Over (-33.6%)
Net Asset ValueAssets₹48.097%Over (-73.1%)
EV/EBITDAEnterprise₹125.459%Over (-29.9%)
Earnings YieldEarnings₹73.307%Over (-59.1%)
ROCE CapitalReturns₹98.659%Over (-44.9%)
Revenue MultipleRevenue₹80.455%Over (-55.1%)
Consensus (9 models)₹98.10100%Overvalued

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 9.8%

*Investments are subject to market risks

Investment Snapshot

62
ADF Foods Ltd scores 62/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health77/100 · Strong
ROCE 16.9% GoodROE 14.0% GoodD/E 0.00 Low debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money60/100 · Moderate
FII holding up 1.47% (6mo) AccumulatingDII holding down 0.54% MF sellingPromoter holding at 36.1% Stable
Earnings Quality40/100 · Moderate
OPM stable around 19% SteadyWorking capital: 123 days Capital intensive
Quarterly Momentum68/100 · Strong
Revenue (4Q): +11% YoY GrowingProfit (4Q): +1% YoY Positive
Industry Rank65/100 · Strong
P/E 23.1 vs industry 112.3 Cheaper than peersROCE 16.9% vs industry 16.4% Average3Y sales CAGR: 12% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:33 am

Market Cap 1,969 Cr.
Current Price 179
Intrinsic Value₹98.10
High / Low 301/153
Stock P/E23.1
Book Value 48.2
Dividend Yield0.67 %
ROCE16.9 %
ROE14.0 %
Face Value 2.00
PEG Ratio2.35

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

View Share Price Target for ADF Foods Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
ADF Foods Ltd 1,969 Cr. 179 301/15323.1 48.20.67 %16.9 %14.0 % 2.00
Tasty Bite Eatables Ltd 1,719 Cr. 6,698 11,958/6,43048.0 1,2420.03 %10.7 %8.58 % 10.0
Prataap Snacks Ltd 2,315 Cr. 968 1,296/859113 2880.05 %1.15 %3.14 % 5.00
Parag Milk Foods Ltd 2,408 Cr. 193 377/15418.0 96.20.52 %14.1 %12.3 % 10.0
HMA Agro Industries Ltd 1,171 Cr. 23.4 38.2/20.06.89 17.31.28 %11.8 %11.5 % 1.00
Industry Average19,776.38 Cr581.69112.2889.800.31%16.37%17.51%5.63

All Competitor Stocks of ADF Foods Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 123123112125130154122161147159133163191
Expenses 969790103103119102134121134109127154
Operating Profit 27262222273420282625243637
OPM % 22%21%20%17%21%22%16%17%18%16%18%22%19%
Other Income 312342544236-4
Interest 1111111111111
Depreciation 4444444555555
Profit before tax 25232021263120262521213627
Tax % 27%30%27%27%27%19%26%25%25%21%28%26%17%
Net Profit 19161515192514201916152622
EPS in Rs 1.691.491.371.371.762.351.371.791.711.501.392.402.04

Last Updated: February 6, 2026, 9:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:08 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 208204210201201231285370421450520590646
Expenses 192188190179182202232302354369415491525
Operating Profit 1616202219295368678110598121
OPM % 8%8%9%11%10%13%19%18%16%18%20%17%19%
Other Income 494618149691111146
Interest 2111111123233
Depreciation 11111254466914161820
Profit before tax 71211233238556765759892105
Tax % 32%24%39%36%44%33%22%25%26%26%25%24%
Net Profit 59715182543504956746980
EPS in Rs 0.510.800.601.381.702.534.275.004.595.106.856.307.33
Dividend Payout % 59%38%0%37%0%0%14%12%18%20%77%19%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)80.00%-22.22%114.29%20.00%38.89%72.00%16.28%-2.00%14.29%32.14%-6.76%
Change in YoY Net Profit Growth (%)0.00%-102.22%136.51%-94.29%18.89%33.11%-55.72%-18.28%16.29%17.86%-38.90%

ADF Foods Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:11%
5 Years:16%
3 Years:12%
TTM:13%
Compounded Profit Growth
10 Years:25%
5 Years:9%
3 Years:11%
TTM:-7%
Stock Price CAGR
10 Years:33%
5 Years:27%
3 Years:18%
1 Year:-13%
Return on Equity
10 Years:15%
5 Years:16%
3 Years:15%
Last Year:14%

Last Updated: September 4, 2025, 10:10 pm

Balance Sheet

Last Updated: December 4, 2025, 12:54 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 22222222222020202122222222
Reserves 126131136145153151184253322397419470507
Borrowings 281865102317055565912
Other Liabilities 252421193023375055465366135
Total Liabilities 201194185191205195265324468520550618677
Fixed Assets 8093838180697777160175182186192
CWIP 920101200751960
Investments 218880018173980776112
Other Assets 919294100125125167229268259285353412
Total Assets 201194185191205195265324468520550618677

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 18615172420313634517037
Cash from Investing Activity + 5181-44-1-39-9-53-6013-39
Cash from Financing Activity + -21-21-18-12-11-3214-733-5-63-21
Net Cash Flow 33-1117-1462014-1420-23
Free Cash Flow 6-7161419152132-02455-4
CFO/OP 143%36%121%117%168%114%83%71%72%88%89%63%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-12.00-2.0014.0017.0018.0029.0030.0067.00-3.0026.0049.0039.00

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

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 535863627869686461767673
Inventory Days 111988510494131158143156132111165
Days Payable 513737445552626865476383
Cash Conversion Cycle 113120112122117148165139153162124155
Working Capital Days 5766869810211782111110116108123
ROCE %4%6%7%14%19%23%28%27%19%17%20%17%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 36.50%36.50%36.29%36.28%36.42%36.33%36.17%36.14%36.14%36.14%36.14%36.14%
FIIs 9.38%9.46%9.57%9.57%9.55%9.51%9.55%10.06%9.84%11.29%11.30%11.31%
DIIs 7.88%7.91%7.91%8.01%8.64%8.65%8.81%23.65%23.65%22.71%23.10%23.11%
Public 46.24%46.12%46.24%46.15%45.39%45.50%45.48%30.16%30.37%29.87%29.47%29.46%
No. of Shareholders 26,38326,15131,52639,81240,41138,83844,14241,99642,76941,43642,05441,581

Shareholding Pattern Chart

No. of Shareholders

ADF Foods Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 2.002.0010.0010.0010.00
Basic EPS (Rs.) 6.306.8525.6223.9725.01
Diluted EPS (Rs.) 6.306.8525.6223.3323.96
Cash EPS (Rs.) 7.838.0031.1426.9927.43
Book Value[Excl.RevalReserv]/Share (Rs.) 44.0839.55188.63161.91134.07
Book Value[Incl.RevalReserv]/Share (Rs.) 44.0839.55188.63161.91134.07
Revenue From Operations / Share (Rs.) 52.7646.56201.46197.34181.03
PBDIT / Share (Rs.) 10.0610.3841.0935.6236.16
PBIT / Share (Rs.) 8.438.9834.9531.3633.27
PBT / Share (Rs.) 8.208.7833.7630.5232.70
Net Profit / Share (Rs.) 6.206.6024.9922.7324.54
NP After MI And SOA / Share (Rs.) 6.206.7425.1022.5324.54
PBDIT Margin (%) 19.0622.2920.3918.0419.97
PBIT Margin (%) 15.9719.2917.3415.8918.37
PBT Margin (%) 15.5318.8416.7515.4618.06
Net Profit Margin (%) 11.7414.1812.4011.5213.55
NP After MI And SOA Margin (%) 11.7414.4612.4511.4113.55
Return on Networth / Equity (%) 14.0517.0613.3814.0218.30
Return on Capital Employeed (%) 16.8419.9416.2016.1324.07
Return On Assets (%) 11.0213.5310.6810.2215.31
Long Term Debt / Equity (X) 0.010.000.000.030.00
Total Debt / Equity (X) 0.010.000.000.040.00
Asset Turnover Ratio (%) 0.990.960.750.840.79
Current Ratio (X) 5.716.677.665.375.29
Quick Ratio (X) 4.415.666.194.003.68
Inventory Turnover Ratio (X) 8.252.912.542.222.52
Dividend Payout Ratio (NP) (%) 28.5572.9615.660.000.00
Dividend Payout Ratio (CP) (%) 22.6060.4412.580.000.00
Earning Retention Ratio (%) 71.4527.0484.340.000.00
Cash Earning Retention Ratio (%) 77.4039.5687.420.000.00
Interest Coverage Ratio (X) 43.6449.6534.6242.0263.59
Interest Coverage Ratio (Post Tax) (X) 27.8832.5822.0527.8244.17
Enterprise Value (Cr.) 2572.892000.011600.231592.411754.86
EV / Net Operating Revenue (X) 4.363.843.553.784.75
EV / EBITDA (X) 22.8917.2417.4220.9523.79
MarketCap / Net Operating Revenue (X) 4.463.973.693.924.93
Retention Ratios (%) 71.4427.0384.330.000.00
Price / BV (X) 5.344.693.964.826.65
Price / Net Operating Revenue (X) 4.463.973.693.924.93
EarningsYield 0.020.030.030.020.02

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

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. 478.41 Cr. and Equity Capital is Rs. 22.35 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Food Processing - Bakery/Dairy/Fruits/Others83/86, GIDC Industrial Estate, Nadiad Gujarat 387001Contact not found
Management
NamePosition Held
Mr. Bimal R ThakkarChairman & M.D & CEO
Mr. Arjuun GuuhaWhole Time Director
Mr. Jay M MehtaNon Executive Director
Mr. Viren A MerchantNon Executive Director
Ms. Deepa Misra HarrisIndependent Director
Mr. Ameet P HarianiIndependent Director
Mr. Manmohan SrivastavaIndependent Director
Mr. Pheroze MistryIndependent Director

FAQ

What is the intrinsic value of ADF Foods Ltd and is it undervalued?

As of 18 April 2026, ADF Foods Ltd's intrinsic value is ₹98.10, which is 45.20% lower than the current market price of ₹179.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (14.0 %), book value (₹48.2), dividend yield (0.67 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of ADF Foods Ltd?

ADF Foods Ltd is trading at ₹179.00 as of 18 April 2026, with a FY2026-2027 high of ₹301 and low of ₹153. The stock is currently near its 52-week low. Market cap stands at ₹1,969 Cr..

How does ADF Foods Ltd's P/E ratio compare to its industry?

ADF Foods Ltd has a P/E ratio of 23.1, which is below the industry average of 112.28. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is ADF Foods Ltd financially healthy?

Key indicators for ADF Foods Ltd: ROCE of 16.9 % indicates efficient capital utilization. Dividend yield is 0.67 %.

Is ADF Foods Ltd profitable and how is the profit trend?

ADF Foods Ltd reported a net profit of ₹69 Cr in Mar 2025 on revenue of ₹590 Cr. Compared to ₹49 Cr in Mar 2022, the net profit shows an improving trend.

Does ADF Foods Ltd pay dividends?

ADF Foods Ltd has a dividend yield of 0.67 % at the current price of ₹179.00. The company pays dividends, though the yield is modest.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in ADF Foods Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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