Shah Foods Ltd

SHAHFOOD

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Market Cap

₹ 9 Cr

P/E

94.49

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Performance

MARKET LEADER

Valuation

OVERVALUED

Growth

STABLE

Profitability

HIGH MARGIN

Technicals

Neutral

Risk

MODERATE RISK

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Price

PE Ratio

Price

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Overview

Detailed Summary

Shah Foods Ltd, incorporated in 1982, is engaged in the food processing business, primarily manufacturing and selling biscuits in India. They primarily supplied their products to Britannia Industries Ltd.

With an ISO: 22000-2005 certification, Shah Foods operated a manufacturing facility with a capacity of 9,000 MTPA biscuits at Gandhinagar, Gujarat.

The company doubled its production capacity during 2005-06 by upgrading its manufacturing line, showing a strategic push in operations.

Post-2019, Shah Foods transitioned out of manufacturing after closing its biscuit plant and shifted focus to the restaurant business with GM Restaurant.

Shah Foods' pivot from manufacturing to hospitality highlights a strategic shift in business operations, marking a new chapter for the company.

Sector

FMCG

Industry

Trading - Medium / Small

Market Cap

9 Cr

Volatility

Low Risk

P/E Ratio

94.5

Industry P/E

35.9

PEG Ratio

-0.6

P/B Ratio

—

52W High

235.60

52W Low

97.55

Sales CAGR

—

29.88%

10Y

-3.18%

Profit CAGR

150.00%

—

10Y

-6.93%

ROE

TTM

-14.98%

18.77%

59.90%

10Y

-27.02%

ROCE

TTM

17.23%

-20.34%

-36.69%

10Y

-11.57%

Technicals

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Forecasts

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MERCTRD	6.56	9 Cr	—	0.15	0.00	-0.12	-0.12	-0.06
DEVINE	9.41	9 Cr	313.67	0.66	0.00	0.23	0.34	0.29
PEETISEC	23.85	9 Cr	—	0.76	0.00	-0.80	-0.67	-0.68
SHAHFOOD	147.40	9 Cr	94.49	0.00	0.00	-14.98	17.23	4.11
FRASER	10.75	9 Cr	—	1.69	0.00	-16.64	-12.77	-6.84
VCU	5.60	9 Cr	—	0.29	0.00	-0.39	-0.52	-0.43
NUTECGLOB	27.00	9 Cr	270.00	1.48	0.00	0.57	7.22	0.12

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.00	0.00	0.00	0.00	0.08	0.89	0.52	2.30	0.00	0.00
Expenses	0.03	0.07	0.02	0.09	0.15	0.86	0.54	2.12	0.05	0.01
Operating Profit	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.18	-0.05	-0.01
OPM %	—	—	—	—	-87.50	3.37	-3.85	7.83	—	—
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.17	-0.05	-0.01
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.17	-0.05	-0.01
EPS in Rs	-0.58	-1.16	-0.41	-1.52	-1.16	0.43	-0.34	2.88	-0.87	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5.40	5.39	5.51	1.02	0.09	0.00	0.00	0.00	3.78	3.71
Expenses	4.61	5.15	5.37	2.68	0.62	0.27	0.27	0.22	3.67	3.57
Operating Profit	0.79	0.24	0.14	-1.65	-0.53	-0.27	-0.27	-0.22	0.11	0.14
OPM %	14.70	4.43	2.54	-161.52	-612.40	—	—	—	2.88	3.77
Other Income	0.07	0.07	0.19	-0.01	0.01	0.00	0.06	0.00	0.00	NaN
Interest	0.01	0.01	0.01	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Depreciation	0.15	0.14	0.16	0.09	0.03	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.70	0.16	0.16	-1.75	-0.55	-0.27	-0.21	-0.22	0.11	0.13
Tax %	28.11	23.71	26.44	1.69	-0.22	0.00	0.00	0.00	0.00	0.00
Net Profit	0.51	0.12	0.12	-1.72	-0.55	-0.27	-0.21	-0.22	0.11	0.13
EPS in Rs	7.27	2.05	1.95	-28.85	-9.26	-4.58	-3.44	-3.67	1.81	2.10
Dividend Payout %	11.81	48.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60
Reserves	1.05	1.61	1.66	1.71	-0.02	-0.57	-0.84	-1.05	-1.27	-1.16
Borrowings	0.00	0.00	0.00	0.00	0.80	0.85	0.86	0.86	1.05	1.27
Other Liabilities	0.58	0.46	0.58	0.59	0.23	0.28	0.21	0.20	0.14	2.18
Total Liabilities	2.23	2.66	2.84	2.89	1.61	1.15	0.81	0.60	0.52	2.89
Fixed Assets	1.10	1.05	1.04	0.96	0.11	0.01	0.00	0.00	0.00	0.00
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	1.13	1.61	1.80	1.93	1.50	1.15	0.81	0.60	0.52	2.89
Total Assets	2.23	2.66	2.84	2.89	1.61	1.15	0.81	0.60	0.52	2.89

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	0.52	-0.09	0.66	-0.06	-1.30	-0.38	-0.27	-0.21	-0.22	-0.18
Cash from Investing Activity	-0.28	-0.04	-0.06	-0.16	0.05	0.21	0.46	0.00	0.00	0.00
Cash from Financing Activity	-0.02	-0.03	-0.08	-0.08	0.80	0.04	0.01	-0.00	0.19	0.22
Net Cash Flow	0.22	-0.16	0.52	-0.30	-0.45	-0.13	0.20	-0.21	-0.03	0.04

Shareholdings

Shareholding History

Quarterly

Yearly

Quarterly

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	47.19%	47.19%	47.19%	26.13%	0.54%	49.55%	49.55%	49.01%	49.01%	49.01%	49.01%	49.01%
FIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
DIIs	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Public	52.81%	52.81%	52.81%	73.87%	99.46%	50.45%	50.45%	50.99%	50.99%	50.99%	50.99%	50.99%
Total Shareholders	1,052	1,049	1,027	1,009	1,001	984	991	987	987	988	987	980

Market Transactions

Date	Party	Category	Type	Avg Price (₹)	Total Value (₹)	Quantity	Percent Traded
Jul 14, 2025	Ruchira goyal	Bulk	Buy	136.50	0.04 Cr	3,000	0.50
Apr 20, 2024	Indu omprakash bhandari	Insider - Other	Acquisition	100.00	0.41 Cr	41,200	5.88
Apr 20, 2024	Ankit bhandari	Insider - Other	Acquisition	100.00	0.35 Cr	35,000	—
Apr 20, 2024	Omprakash bhandari	Insider - Other	Acquisition	100.00	0.35 Cr	35,000	5.85
Apr 20, 2024	Amit bhandari	Insider - Other	Acquisition	100.00	0.35 Cr	35,000	—
Apr 20, 2024	Virendra popatlal shah	Insider - Promoter	Disposal	100.00	0.30 Cr	29,800	4.99
Apr 20, 2024	Bimal virendra shah	Insider - Promoter	Disposal	100.00	0.06 Cr	5,500	0.92
Apr 20, 2024	Kalpana virendra shah	Insider - Promoter	Disposal	100.00	0.11 Cr	11,000	1.84
Apr 20, 2024	Hemakshi manan patel	Insider - Other	Acquisition	100.00	0.01 Cr	1,454	0.24
Apr 20, 2024	Kirtiben rajesh patel	Insider - Other	Acquisition	100.00	0.50 Cr	50,000	—

Projection

Actions

Action Type

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Announcements

Last 7 days

Newest

Sentiment

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Documents

Presentations

Concalls

Reports

Presentations

No documents found!

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Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Total Figures

QoQ Changes

Total Figures

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Sales	0.00	0.00	0.00	0.00	0.08	0.89	0.52	2.30	0.00	0.00
Expenses	0.03	0.07	0.02	0.09	0.15	0.86	0.54	2.12	0.05	0.01
Operating Profit	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.18	-0.05	-0.01
OPM %	—	—	—	—	-87.50	3.37	-3.85	7.83	—	—
Other Income	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.17	-0.05	-0.01
Tax %	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Profit	-0.03	-0.07	-0.02	-0.09	-0.07	0.03	-0.02	0.17	-0.05	-0.01
EPS in Rs	-0.58	-1.16	-0.41	-1.52	-1.16	0.43	-0.34	2.88	-0.87	—

Standalone Profit Loss (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	5.40	5.39	5.51	1.02	0.09	0.00	0.00	0.00	3.78	3.71
Expenses	4.61	5.15	5.37	2.68	0.62	0.27	0.27	0.22	3.67	3.57
Operating Profit	0.79	0.24	0.14	-1.65	-0.53	-0.27	-0.27	-0.22	0.11	0.14
OPM %	14.70	4.43	2.54	-161.52	-612.40	—	—	—	2.88	3.77
Other Income	0.07	0.07	0.19	-0.01	0.01	0.00	0.06	0.00	0.00	NaN
Interest	0.01	0.01	0.01	0.00	0.01	0.00	0.00	0.00	0.00	0.00
Depreciation	0.15	0.14	0.16	0.09	0.03	0.00	0.00	0.00	0.00	0.00
Profit Before Tax	0.70	0.16	0.16	-1.75	-0.55	-0.27	-0.21	-0.22	0.11	0.13
Tax %	28.11	23.71	26.44	1.69	-0.22	0.00	0.00	0.00	0.00	0.00
Net Profit	0.51	0.12	0.12	-1.72	-0.55	-0.27	-0.21	-0.22	0.11	0.13
EPS in Rs	7.27	2.05	1.95	-28.85	-9.26	-4.58	-3.44	-3.67	1.81	2.10
Dividend Payout %	11.81	48.54	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—

Standalone Balance Sheet (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60	0.60
Reserves	1.05	1.61	1.66	1.71	-0.02	-0.57	-0.84	-1.05	-1.27	-1.16
Borrowings	0.00	0.00	0.00	0.00	0.80	0.85	0.86	0.86	1.05	1.27
Other Liabilities	0.58	0.46	0.58	0.59	0.23	0.28	0.21	0.20	0.14	2.18
Total Liabilities	2.23	2.66	2.84	2.89	1.61	1.15	0.81	0.60	0.52	2.89
Fixed Assets	1.10	1.05	1.04	0.96	0.11	0.01	0.00	0.00	0.00	0.00
CWIP	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Investments	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Other Assets	1.13	1.61	1.80	1.93	1.50	1.15	0.81	0.60	0.52	2.89
Total Assets	2.23	2.66	2.84	2.89	1.61	1.15	0.81	0.60	0.52	2.89

Standalone Cash Flows (in ₹ Crores)

Total Figures

YoY Changes

Total Figures

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity	0.52	-0.09	0.66	-0.06	-1.30	-0.38	-0.27	-0.21	-0.22	-0.18
Cash from Investing Activity	-0.28	-0.04	-0.06	-0.16	0.05	0.21	0.46	0.00	0.00	0.00
Cash from Financing Activity	-0.02	-0.03	-0.08	-0.08	0.80	0.04	0.01	-0.00	0.19	0.22
Net Cash Flow	0.22	-0.16	0.52	-0.30	-0.45	-0.13	0.20	-0.21	-0.03	0.04

Oscillators

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Moving Averages

BearishNeutralBullish

Bearish

Neutral

Bullish

Overall

BearishNeutralBullish

Neutral

Bearish

Neutral

Bullish

Peers

Symbol	Price	Market Cap	P/E	P/B	Div Yield (%)	ROE (%)	ROCE (%)	ROA (%)
MERCTRD	6.56	9 Cr	—	0.15	0.00	-0.12	-0.12	-0.06
DEVINE	9.41	9 Cr	313.67	0.66	0.00	0.23	0.34	0.29
PEETISEC	23.85	9 Cr	—	0.76	0.00	-0.80	-0.67	-0.68
SHAHFOOD	147.40	9 Cr	94.49	0.00	0.00	-14.98	17.23	4.11
FRASER	10.75	9 Cr	—	1.69	0.00	-16.64	-12.77	-6.84
VCU	5.60	9 Cr	—	0.29	0.00	-0.39	-0.52	-0.43
NUTECGLOB	27.00	9 Cr	270.00	1.48	0.00	0.57	7.22	0.12

Shah Foods Ltd

Shah Foods Ltd

SHAHFOOD

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Investment Checklist

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Overview

Sector

Industry

Market Cap

Volatility

P/E Ratio

Industry P/E

PEG Ratio

P/B Ratio

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Technicals

Forecasts

Peers

Price Chart Comparison

Financial Statements

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Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Shareholdings

Shareholding History

Market Transactions

Projection

Actions

Announcements

Documents

AI Mode

AI Mode

Technicals

Investment Checklist

Shah Foods Ltd

SHAHFOOD

AI Mode

Financial Statements

AI Powered Summary

AI Mode

Standalone Quarterly Results (in ₹ Crores)

Standalone Profit Loss (in ₹ Crores)

Standalone Balance Sheet (in ₹ Crores)

Standalone Cash Flows (in ₹ Crores)

Oscillators

Neutral

Overall

Neutral

Moving Averages

Bearish

Overall

Neutral

Peers

Price Chart Comparison

Announcements