Krishival targets 40-tonne nuts capacity and FY29 ice cream use

Krishival Foods Limited is targeting 40 metric tonnes a day of finished-nuts capacity by FY28, after reaching 20 tonnes a day in May 2026, while management targets full utilisation of its 1 lakh litre-a-day ice-cream plant in Q1 FY29. Management said full ice-cream utilisation can generate Rs 600 crore of revenue.

What is Krishival’s nuts capacity target for FY28?

Krishival is targeting 40 metric tonnes a day of finished-kernel production capacity by FY28. The objective would double the 20 metric tonnes a day of installed finished-nuts capacity reported after the May 2026 expansion. Management described the FY28 number as a roadmap objective and said it intended to make further capacity additions to reach it.

The target covers the nuts, dry-fruits and healthy-snacking operation, whose portfolio includes flavoured cashews, almonds, pistachios, makhana, exotic nuts and other healthy-snacking products. Krishival is also expanding its Rs 20 maximum retail price, or MRP, range with trail mixes, cereal mixes, salted nuts, mixed assorted nuts, roasted almonds and assorted mixes. Management said the product approach is intended to address affordable and premium consumer segments.

The capacity target forms part of management’s wider FY29 plan for consolidated revenue of Rs 1,500 crore. Management expects the healthy-snacks and ice-cream divisions to contribute almost equally by FY29, supported by capacity utilisation, wider distribution and product launches. The 40-tonne daily target is therefore a future manufacturing objective, not reported production volume.

How did Krishival’s nuts capacity change in May 2026?

Krishival added 10 metric tonnes a day of finished-kernel capacity in May 2026, taking installed capacity from 10 metric tonnes a day to 20 metric tonnes a day. The addition matched the previous installed base, resulting in a 100% increase in the company’s finished-nuts capacity at that point.

Management said utilisation of the expanded 20-tonne facility would be increased gradually. During the May 2026 earnings call for the previous financial year, management had said it expected to use only 25% of the added capacity during FY27. That disclosure identifies utilisation of the May addition as an interim operational priority before the FY28 capacity goal is reached.

Krishival’s nuts, dry-fruits and healthy-snacks manufacturing setup is in Kolhapur district near Belgaum. Its integrated operations include grading, roasting, flavouring and packaging. Management identified sourcing, branded portfolio expansion, capacity utilisation and wider distribution as its principal priorities for the nuts business.

What is supporting Krishival’s nuts capacity ramp-up?

Krishival is seeking to raise nuts capacity utilisation through product expansion and wider availability in general trade, modern trade, e-commerce and quick commerce. The company’s Rs 20 on-the-go range sits alongside flavoured and premium products, giving it products at different price points as it expands distribution.

The nuts, dry-fruits and healthy-snacks division recorded Q2 FY27 revenue of Rs 63.16 crore, up 19% year on year, and earnings before interest, tax, depreciation and amortisation, or EBITDA, of Rs 10.44 crore, up 33%. The segment’s EBITDA margin was 17%, compared with Krishival’s overall Q2 FY27 EBITDA margin of 16.6% on revenue of Rs 85.66 crore.

Nuts remained Krishival’s larger reported Q2 FY27 business by revenue, despite slower growth than ice cream. Ice-cream revenue rose approximately 65% year on year to Rs 22.50 crore, against Rs 63.16 crore for nuts, a difference of Rs 40.66 crore. Management linked future nuts growth to sourcing, branded products and availability across physical and digital channels.

When does Krishival expect full ice-cream capacity utilisation?

Krishival expects full utilisation of its installed ice-cream capacity in Q1 FY29. The Sambhajinagar facility has installed capacity of 1 lakh litres a day, and management said full utilisation can generate Rs 600 crore of revenue. That revenue figure is management’s stated potential at full utilisation, rather than reported revenue or guidance.

For FY27, management expects almost 37% utilisation of installed ice-cream capacity. The same Sambhajinagar site has 20 metric tonnes a day of milk-product capacity and 10 metric tonnes a day of bakery-product capacity, both of which management said were being ramped up gradually. The ice-cream utilisation plan therefore sits within a facility that also makes related food products.

The plant includes extrusion and stick lines, a cone-filling facility, a blast rotary tunnel, homogenisers and pasteurisers, along with cold-chain infrastructure and an in-house research and development centre. Krishival’s ice-cream portfolio includes cones, kulfis, choco bars, tubs, family packs, novelties, ice-cream cakes, pastries and the Marvel extrusion-line range.

What distribution expansion supports Krishival’s ice-cream ramp-up?

Krishival is expanding deep freezers, distributors and depots to support higher ice-cream utilisation. At the end of Q2 FY27, its deep-freezer network stood at 18,752 units, and management is targeting 27,000 units by the end of FY27. Its products were available at more than 35,000 retail touchpoints across Maharashtra, Goa, Karnataka, Telangana, Andhra Pradesh and Tamil Nadu.

During Q2 FY27, Krishival added 85 distributors, taking the total to 205, and reported distributor retention of approximately 95%. The network operated through 13 depots. Management said depot operations and management of raw-material and packing-material costs contributed to ice-cream EBITDA of Rs 3.53 crore, up 566% year on year, with a 16% EBITDA margin.

Krishival added Tamil Nadu locations including Vellore, Hosur, Erode, Tiruvannamalai and Salem during Q2 FY27. In Andhra Pradesh, management said C&F locations covered Rayalaseema, Vijayawada and Visakhapatnam. The company is also commissioning its first Mellow & Co. outlet at Apte Road in Pune and plans 25 franchise-owned, company-operated, or FOCO, outlets in Pune and nearby areas after its launch.

How does the capacity plan fit Krishival’s FY29 targets?

Krishival’s manufacturing ramp-up is intended to support management’s FY29 target of Rs 1,500 crore in consolidated revenue and almost equal revenue contributions from healthy snacks and ice cream. Management said the plan depends on increased use of capacity, wider distribution, product innovation and new launches, rather than capacity additions alone.

Krishival reported first-half FY27 revenue of Rs 174.62 crore, up 50% from Rs 116.19 crore in the first half of the previous financial year. First-half EBITDA increased 63% to Rs 24.56 crore, while profit after tax rose 22% to Rs 12.42 crore. Management is targeting approximately 50% growth in revenue and profitability in FY27 and said first-half performance placed it on course towards that objective.

Management also said Krishival would continue to develop exports while increasing domestic capacity utilisation. Krishival reported an export shipment to Singapore during Q2 FY27 and said the United States and Japan were on its radar for export expansion. The transcript does not provide a date, volume or revenue target for those markets.

Conclusion

Krishival has set separate manufacturing milestones for its two businesses: finished-nuts capacity of 40 metric tonnes a day by FY28 and full utilisation of its 1 lakh litre-a-day ice-cream facility in Q1 FY29. The nuts target follows a May 2026 doubling of installed capacity to 20 tonnes a day, while the ice-cream target is supported by added freezers, distributors and depots.

The next disclosed measures are management’s FY27 targets of almost 37% ice-cream capacity utilisation, 27,000 deep freezers by the financial year-end, and approximately 50% growth in revenue and profitability. Progress in utilising the May 2026 nuts addition, opening the first Mellow & Co. outlet and expanding the planned 25 FOCO outlets will provide further operational milestones before the FY28 and FY29 targets.