Shellz India Limited Sales Rise 15.1% to ₹186.97 Crore

Shellz India Limited reported sales of ₹186.97 crore for the year ended March 2025, a 15.1% increase from ₹162.41 crore in March 2024, while its operating profit margin rose to 13.13% from 12.29%. The performance provides a financial reference point for the Delhi-based confectionery and bakery-products manufacturer following its BSE listing.

How did Shellz India Limited perform in FY25?

Shellz India Limited increased sales to ₹186.97 crore in FY25 from ₹162.41 crore in FY24 and ₹158.52 crore in FY23. The FY25 increase of ₹24.56 crore over the preceding year came alongside growth in operating profit, which rose to ₹24.54 crore from ₹19.96 crore in FY24.

The company’s operating profit margin improved by 84 basis points year on year to 13.13% in FY25. Expenses rose to ₹162.43 crore from ₹142.45 crore, but the increase was lower than the growth recorded in sales. Earnings per share rose to ₹124.20 in FY25 from ₹82.10 in FY24, according to the financial data provided.

The available figures show a three-year progression in revenue and operating profitability. Sales increased by ₹28.45 crore between FY23 and FY25, while operating profit increased by ₹7.87 crore over the same period. These figures relate to the company’s annual profit and loss data and should be considered alongside the limited availability of published investor materials in the supplied information.

What products and markets does Shellz India serve?

Shellz India manufactures and markets confectionery products and food and bakery ingredients in India. Its consumer portfolio includes biscuits, wafers, cones, cream and chocolate fillings, chocolate and milk-based confectionery, jellies, puddings, sugar-coated chocolates and flavoured sugar-based candies.

The company sells consumer products under the Hugs and Tosca brands. Hugs covers baked treats, choco delights, jellies, and panned and sugar confectionery. Tosca is positioned at a relatively higher unit selling price and targets mass-premium segments, according to the company information provided.

Shellz India also manufactures food and bakery ingredients, including cocoa-based products, cocoa solids, custard powder, premixes and related formulations. In addition to selling its own brands, the company undertakes private-label manufacturing for third-party customers. This gives the business exposure to both branded packaged food sales and business-to-business supply arrangements.

The company exports through distributors in the Middle East, Southeast Asia and Spain. Within India, it serves general trade and modern trade channels, including supplies made directly to stores or designated delivery points through central fulfilment centres.

How has Shellz India expanded its manufacturing operations?

Shellz India operates manufacturing facilities in Delhi and Sonipat, Haryana, with its Samaipur, Delhi facility supporting four core product categories: baked treats, choco delights, jellies and panned sugar candies. The facilities also support production of food and bakery ingredients.

The company stated that it commenced its Sonipat facility to address rising domestic and global demand. It also launched in-house packaging manufacturing operations during 2025. The packaging operation is a reported operational development, although the supplied material does not quantify its capacity, investment, cost savings or contribution to revenue.

Shellz India was incorporated in May 2012 as Tifosi Foods Private Limited. It changed its name to Shellz India Private Limited in September 2020 and became a public limited company, Shellz India Limited, in February 2025. Kapil Garg is identified as chairperson and chief executive officer.

The company is headquartered in New Delhi and is classified in the FMCG industry. The provided profile lists 239 employees. Its market capitalisation was stated at ₹210 crore, placing it among smaller listed consumer-food companies by market value.

What does the BSE listing mean for Shellz India investors?

Shellz India is listed on the BSE under scrip code 544998. The supplied information states that the company completed an IPO of ₹59.97 crore in October 2026, while separate company material refers to a plan for a fresh issue of 40 lakh equity shares with a face value of ₹10 each.

The listing provides public-market access for a company previously structured as a private enterprise. For investors, the relevant reported indicators include FY25 sales growth, the increase in operating margin, manufacturing expansion, and the scale of the company relative to larger peers in the packaged-food sector.

Retail investor shareholding increased from 0.00% to 23.85% in the October 2026 quarter, according to the information provided. This change followed the company’s entry into the public market. The supplied data does not provide a detailed shareholder breakdown, institutional ownership data, or the number of shares underlying the retail holding.

The company’s disclosures available in the supplied material are limited. It notes that no annual reports, investor presentations or earnings-call transcripts were available on one referenced platform. Investors reviewing the stock would therefore need to rely on official exchange filings for updated financial statements, shareholding patterns, results and corporate announcements.

Why do Shellz India’s FY25 figures matter for the consumer-food sector?

Shellz India’s FY25 data matter because they show revenue growth alongside a higher operating margin in a business serving confectionery, bakery ingredients and private-label customers. Sales grew 15.1% year on year, while operating profit grew 22.9%, indicating that operating profit expanded faster than revenue during the period.

The company operates in categories where distribution reach, product mix, input costs, manufacturing capacity and packaging can affect operating performance. Its expansion into Sonipat and in-house packaging were reported as steps to support demand, but the available information does not provide future capacity targets, volume data, margin guidance or a quantified export contribution.

For the broader industry, Shellz India remains a comparatively small listed participant. The provided peer table lists Hindustan Foods Ltd with a market capitalisation of ₹6,695 crore, compared with Shellz India’s stated ₹210 crore market value. The comparison illustrates the difference in listed scale, although the companies’ business models and product portfolios may not be directly comparable.

Conclusion

Shellz India reported higher FY25 sales, operating profit and operating margin, with revenue reaching ₹186.97 crore and operating profit reaching ₹24.54 crore. Its business spans branded confectionery, bakery ingredients, private-label manufacturing and distributor-led exports, supported by production facilities in Delhi and Sonipat.

The next disclosures to watch are official BSE filings on post-listing financial results, shareholding changes and the operational progress of the Sonipat facility and in-house packaging unit. The supplied information does not disclose specific future revenue, capacity or profitability targets, making periodic company filings important for assessing subsequent performance.