Prime Fresh Ltd. · BSE:PRIMEFRESH
Prime Fresh — Q4 FY2026 Earnings Presentation
41 slides from Prime Fresh's earnings presentation, Jul 29, 2026
Slide 1: Cover letter to BSE Limited
PRIME,.- —rwew—sfi—fi PRIME FRESH LIMITED Date: 29.07.2026 To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 SCRIP CODE: 540404 Dear Sir/Madam, Sub: Earnings Presentation July 2026 With reference to the above-mentioned subject, kindly find enclosed updated Earnings Presentation f
Slide 2: Earnings Presentation - July 2026
—==PRIME FRESH LTD EARNINGS PRESENTATION- JULY 2026 PRIE lill‘lil"llullfll‘ ‘ummw]w 8"+ FROM GROWERS AND FEEDERS Q\/ TO BUYERS AND EATERS FIRMLY ALIGNED WITH THE COUNTRY’S VISION— ATMANIRBHAR BHARAT! GROWING ALONGSIDE THE BACKBONE OF THE NATION
Slide 3: Disclaimer
m, PRIMES E HARBOR Fresh This presentation and the accompanying slides (the “Presentation”), which have been prepared by Prime Fresh Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Agenda
Business Highlights Business Overview Our Circle of Competence Financial Performance Management Commentary
Slide 5: Business Highlights
PRIME= Fresh BUSINESS HIGHLIGHTS
Slide 6: Q4FY26 Highlights
QA4FY26 HIGHLIGHTS e NET INCOME INR 32.4 Mn @ } YoY 66% QoQ 31)% 04 02 i3 PAT MARGIN 03 EBITDA INR 54 Mn 4% ’ YoY 64% [ YoV 10 bps QoQ (14)% QoQ (170) bps
Slide 7: FY26 Highlights
" FY26 HIGHLIGHTS i TOTAL REVENUE EBITDA INR 2,744 Mn INR 2000 Mn YoY 32% YoY 50% PAT PAT MARGIN ‘ INR 140 Mn ‘ 5% YoY 52% YoY 64 bps
Slide 8: Tonnage (in MT) Q4FY26
ONNAGE (IN MT) Q4FY26 e IMES 16,244 ! 10,702 9,711 8,634 8,850 8,875 8,269 1 8,179 8,003 | 7,068 1 4003 3632 3822 3401 Q1FY23 Q2FY23 Q3FY23 Q4FY23 QI1FY24 Q2FY24 Q3FY24 Q4FY24 QI1FY25 Q2FY25 Q3FY25 Q4FY25 QI1FY26 Q2FY26 Q3FY26 Q4FY26 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2F
Slide 9: Financial Highlights
NCIAL HIGHLIGHTS Fresh D/E-0.11 Revenue- 33% CAGR . Average (2020-2026) (2021-2026) EBITDA- 38% CAGR ROE - 17% (2020-2026) Average (2021-2026) ROCE - 19% PAT - 41% CAGR Average (2020-2026) (2021-2026)
Slide 10: Laying the Foundation for Tomorrow, Today (1/3)
,531: LAYING THE FOUNDATION FOR TOMORROW, TODAY (1/3) PRIMES With unmatched scale, a rock-solid business We are actively strengthening our footprint in high- model, and more than 18 years of category- potential emerging domestic regions such as Uttar defining leadership, we are perfectly positioned
Slide 11: Laying the Foundation for Tomorrow, Today (2/3)
. 1: LAYING THE FOUNDATION FOR TOMORROW, TODAY (2/3) PRINE Fresh We are actively strengthening our footprint in high- potential emerging domestic regions such as Uttar Inorganic growth will remain central to our Pradesh, Bihar, Odisha, Guwahati, Madhya Pradesh, roadmap as we identify and integrate h
Slide 12: Laying the Foundation for Tomorrow, Today (3/3)
Ee : LAYING THE FOUNDATION FOR TOMORROW, TODAY (3/3) ngglgfi * Leveraging underutilized agri-infrastructure. We are developinga City Distribution Business, Collaborating with local aggregators and aimed at servicing the large and fragmented general farmer networks trade (GT) segment. This model will
Slide 13: Preparing for Orbit Pivot: Step Towards Greenfield Expansion
"PREPARING FOR ORBIT PIVOT: STEP TOWARDS GREENFIELD EXPANSION L Prime Fresh Limited, one of India's emerging agri-supply-chain and fresh-produce distribution company, has successfully executed a sale deed for the acquisition of 6 acres of land in the State of Maharashtra, located at Shrirampur Villa
Slide 14: Ahead of the Curve
AHEAD OF THE CURVE ”3““ We promote and educate farmers for In line with the Government’s vision for Aatmanirbhar Bharat we have Since 2013, we have independently residue-free farming practices, soil & water embraced targeted collaborative models to expand the scale and developed comprehensive supply
Slide 15: FY26 Key Highlights
IMES " FY26 KEY HIGHLIGHTS Fhiesh §g Record operating scale & 8 880E Outward volume rose 97.1% to 65,132 MT; standalone OPT volumes grew ~118%, led by 147.9% growth in onion volumes. Stronger profitability Revenue grew 32.5%, while EBITDA and PAT grew faster at 50.3% and 51.7%, reflecting better uti
Slide 16: Glance
PRIMES GLANCE INTRODUCTION MARKET REACH Export Network in 6 countries Established in 2007 & headquartered in Ahmedabad 2,400+ Suppliers & Local Area Aggregators K 24*7 Operations across 19+ locations round the year 90+ APMC partners Listed on BSE SME since March 2017 upto 5% June 20+ Exporters 2025
Slide 17: Vision, Mission and Goal
ISION, MISSION AND GOAL e VISION Build a respectable Indian Global Agri Institution (IGAI) which is scalable, sustainable, fair and equal to create value for all stakeholders in a globalized Agri eco system. MISSION Empowering communities at large for better health, cleaner environment and fostering
Slide 18: Business Overview
PRIME? res
Slide 19: PFL: From Roots to Every Route
PFL FROM ROOTS TO EVERY ROUTE In 2007, Prime Fresh Limited began with a mission: To redefine how India handles its harvest and delivers to the end consumers. Stakeholders in farming face high grading and transportation costs, often resulting in losses due to the perishable nature of produce. Leverag
Slide 20: Business Model Canvas
PRIMES mESS MODEL CANVAS 2 Key Activities Key Resource Cost Structure We are engaged in « Skilled Team Our cost structure is built on a * Service Business (21 Services) ¢ Farmer Network proprietary backward- and ¢ Cold Chain integration model that * Supply Chain business in Fruits Infrastructure cal
Slide 21: Fruits and vegetables
Oranges Bananas Potatoes 20
Slide 22: Procurement that supports farmers and feeds nation
m’ENT THAT SUPPORTS FARMERS AND FEEDS NATION Kashmir @ Pomegranate Himachal Pradesh Long term association with (Y suppliers &\ Bananas Rajasthan Grapes Strong Procurement Team with robust farmer connects . Onion Gujarat Well Defined processes with Mangoes responsible sourcing and practices Apples Mu
Slide 23: Glimpse of Business Operations and Activities
“GLIMPSE OF BUSINESS OPERATIONS AND ACTIVITIES b Extensive hubs — ensuring every harvest finds its buyer. 22
Slide 24: Key Supply Chain Partners for Fruits and Vegetables
fiKEY SUPPLY CHAIN PARTNERS FOR FRUITS AND VEGETABLES PRIME We are the trusted supplier of vegetables and fruits to leading retail chains such as Tata Star Bazar, HyperCity, and Reliance Fresh Limited across various locations in Gujarat. Reliance g7 1 1 1 frc’ h i a\/l I Iagon i — 1 /;l(’,f,fwms E Ag
Slide 25: Key Supply Chain Partners for 3PL Solutions and Services
*OURKEY SUPPLY CHAIN PARTNERS FOR 3PL SOLUTIONS AND SERVICES ot We have developed a service business using a 3PL model, serving major corporations such as RIL, Agility Logistics, Waghbakri Tea, as well as several pharmaceutical and spice companies, available at 25 locations for service. We provide w
Slide 26: Our Circle of Competence
PRIME,S OUR CIRCLE OF COMPETENCE 25
Slide 27: We Create Disproportionate Impact (1/3)
EE WE CREATE DISPROPORTIONATE IMPACT (1/3) PRIME Fresh Our expertise in supply chain Strong distribution network across 18 states. management is reflected in —@ below 3% F&V wastage in supply chain. Only public listed company with unique business model across 6+ channels. We are the primary supplier
Slide 28: We Create Disproportionate Impact (2/3)
m’E WE CREATE DISPROPORTIONATE IMPACT (2/3) P‘I:iglgfi We operate through an Omni channel sales Backward integration through structured strategy encompassing HoReCa, General Trade, contract farming to ensure consistent supply R.etall, and APMC njarkets — HoReCa.offers and reduce procurement costs. hi
Slide 29: Procurement for Maximum Supply Chain Impact (3/3)
mfiuzm PROCUREMENT FOR MAXIMUM SUPPLY CHAIN IMPACT (3/3) PAIlE- Loyalty programs and fair-pricing policies lead to exclusive or first-preference supply from farmers. Difficult for new entrants to break High procurement volumes these relationships. give us negotiation power ® with suppliers. ® Absence
Slide 30: Financial Performance
PRIME FINANCIAL PERFORMANCE 29
Slide 31: Financial Highlights - Q4FY26
RANCIAL HIGHLIGHTS- Q3FY26 Al fguresin i PE:A&“ Total Income (In INR Mn) EBITDA 801 63 744 54 33 : I Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 PAT = EBITDA Margin ==—=PAT Margin 47 32 ’W/—&%\ 7% 4/«%\ 20 5 4% Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 30
Slide 32: F&V Business and Service Business
m F&V BUSINESS = SERVICE BUSINESS m F&V BUSINESS = SERVICE BUSINESS 31
Slide 33: Financial Highlights - Historical (Consolidated)
mL HIGHLIGHTS- HISTORICAL (CONSOLIDATED FIGURES) s (765 Revenue from Operations (In INR Mn) EBITDA & PAT (In INR Mn) 5.5x ‘ 2740 l 201 2068 143 140 1492 105 994 92 656 772 78 70 500 29 43 - 33 o FY20 FY21 FY22 FY23 FY24 FY25 FY26 ' 1 | FY20 FY21 FY22 FY23 FY24 FY25 FY26 mEBITDA PAT = EBITDA Margin =
Slide 34: Financial Highlights - Historical (Consolidated)
= PRIME mAL HIGHLIGHTS- HISTORICAL (CONSOLIDATED FIGURES) Fresh Working Capital Days ——Interest Coverage Ratio 26.8 10.6 FY20 Fy21 FY22 FY23 FY24 FY25 FY26 FY20 Fy21 FY22 FY23 FY24 FY25 FY26 M Trade Receivable Days M Inventory Days M Trade Payable Days 33
Slide 35: Profit and Loss Statement - Q4FY26 & FY26
PRIMES Fresh PROFIT AND LOSS STATEMENT- Q4FY26 & FY26 (CONSOLIDATED FIGURES) All figures in Millions Revenue from Operations 799 743 8% 533 50% 2740 2068 Other Income 1 1 2 4 9 8% - 50% [Total Expenses except Depreciation 751 682 503 2554 1948 -14% - 64% EBITDA Margin 7% 8% 6% 7% 6% -18% - 62% Tax 1
Slide 36: Profit and Loss Statement (Consolidated) - Historical
PRIMES PROFIT AND LOSS STATEMENT (CONSOLIDATED)- HISTORICAL ~ All figures in Millions Fresh 1————— "7 1 ¥ Revenue from Operations 499.7 655.8 772.0 993.5 1492.1 2067.7 ! 2739.8 Other Income 0.1 0.2 22 3.5 37 9.4 : 4.4 1 - - 1 Total Expenses except Depreciation, IAmortization and Finance Cost 470.6 6
Slide 37: Balance Sheet (Consolidated) - Historical
~PRIMES mfiT (CONSOLIDATED)- HISTORICAL M Key Balance Sheet Items(Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 FY26 Equity Share Capital 34.9 39.4 118.3 125.2 136.5 136.5 : 138.8 Reserves 8.6 141.4 107.7 178.6 487.9 575.2 : 742.3 Borrowings 33.9 40.8 41.9 47.2 0.4 435 : 88.7 Other Liabilities 11.8 14.4 3.
Slide 38: Cash Flow Statement
Particulars (Rs in Mn) 1 Cash Flow From Operating Activities -31.0 -19.3 -0.3 -12.3 -109.1 -107.8 E -119.1 1 Cash Flow From Investing Activities -0.1 -0.1 -4.1 -2.8 -66.8 71.4 : -14.2 | Cash Flow From Financing Activities 27.4 23.8 8.2 31.7 196.4 35.1 : 171.4 Net Change in Cash and Cash Equivalents
Slide 39: Financial Resilience Reinforcing Momentum
'FINANCIAL RESILIENCE REINFORCING MOMENTUM PRIMES . Fresn Our bottom line has expanded at a faster pace than our topline, with a 43% CAGR vs. Y 33% over FY20-FY26 respectively. /I'I O Near-zero debt (D/E 0.1). Long Term Borrowings is NILin FY26. ‘ | 1 f\ O Our working capital cycle remained stable o
Slide 40: Management Commentary
PRIMES MANAGEMENT COMMENTARY % Fresh Mr Hiren Ghelani, Founder and Whole Time Director, said “Dear Shareholders, we are pleased to announce that our Q4 FY2026 was a resilient and strategically important quarter for Prime Fresh, reflecting the strength of our diversified fresh- produce model, discipl
Slide 41: Thank You
PRIME.- Fresh We deliver fresh THANK YOU For further information; please visit: www.primefreshlimited.com PRIME FRESH LIMITED +91 9909032351/ 9909032945 ir@primefreshlimited.com/cs@Primefreshlimited.com