Vidhi Specialty Food Ingredients Ltd · NSE:VIDHIING
Vidhi Specialty Food Ingredients — Q3 FY2026 Earnings Presentation
38 slides from Vidhi Specialty Food Ingredients's earnings presentation, Feb 3, 2026
Slide 1: Cover letter to stock exchanges
February 03, 2026 To, To, The Manager The Manger Department of Corporate Services (DCS-Listing) Listing Compliance BSE Limited, National Stock Exchange India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G-Block, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai- 400001 Bandra (Ea
Slide 2: Vidhi Specialty Food Ingredients Limited Investor Presentation February 2026
Vidhi Specialty Food Ingredients Limited Investor Presentation February 2026
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vidhi Specialty Food Ingredients Limited [Formerly known as 'Vidhi Dyestuffs Manufacturing Limited] (the “Company’), have been prepared solely for information purposes and do not constitute an
Slide 4: Q3 & 9MFY26 Financial Performance (Consolidated)
Q3 & 9MFY26 Financial Performance (Consolidated)
Slide 5: 9M FY26 Performance Highlights
9M FY26 Performance Highlights 9M FY26 (Y-o-Y) Rs. 257.3 Crs Rs. 57.4 Crs Rs. 35.8 Crs Revenue EBITDA PAT -5.7% Y-o-Y 18.8% Y-o-Y 13.6% Y-o-Y Update on Capacity Expansion Phase I Dahej SEZ (350 MT) Phase II Roha MIDC (Arjun Foods*) (350 MT) Company has successfully commenced production in the Dahej
Slide 6: Q3 & 9MFY26 Consolidated Key Highlights
Q3 & 9MFY26 Consolidated Key Highlights Revenue from Operations (Rs. in Crs) EBIDTA (Rs. in Crs) Profit after Tax (Rs. in Crs) 272.8 57.4 35.8 257.3 31.5 48.3 98.5 94.5 12.7 12.4 19.0 19.2 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26 9MFY25 9MFY26 Q3FY25 Q3FY26* 9MFY25 9MFY26 *Profitability in the curr
Slide 7: Q3 & 9MFY26 Consolidated Profit & Loss Statement
Q3 & 9MFY26 Consolidated Profit & Loss Statement Particulars (Rs in Crs) Q3 FY26 Q3 FY25 Y-o-Y Q2 FY26 Q-o-Q 9M FY26 9M FY25 Y-o-Y Revenue from Operations 94.5 98.5 -4.1% 75.0 26.0% 257.3 272.8 -5.7% Total Expenses 53.9 57.2 36.9 140.7 170.0 Gross Profit 40.5 41.3 -2.0% 38.1 6.4% 116.6 102.8 13.4% G
Slide 8: Transformation Growth & Path Ahead: 2.0
Transformation Growth & Path Ahead: 2.0
Slide 9: Dahej SEZ Plant (Phase-I) - Commercial Production Commenced
Dahej SEZ Plant (Phase-I)- Commercial Production Commenced Moved one step closer to our goal of achieving total capacity of 1000 TPM from existing 325 TPM NEW CAPACITY ADDITION Company has successfully commenced production Added installed capacity of 350 TPM Investment of INR 70 Crs – in the Dahej p
Slide 10: Next Leg Of Growth – Capacity Addition at Roha (Phase-II)
Next Leg Of Growth – Capacity Addition at Roha (Phase-II) To address the Demand Supply Gap through capacity expansion Metric Tons per Month ~675 ~1,000 3x NEW CAPACITY ADDITION Planned Capacity Expansion by 2025-26 o Arjun Foods, a wholly-owned subsidiary of Vidhi in Roha MIDC, 200 meters away from
Slide 11: Company Overview
Company Overview
Slide 12: All About Food Colours
All About Food Colours Why Food Colours??? Research shows that 90% of buyers make a decision to Food colours are ingredients that Colours when added to food This influences consumers purchase a product after seeing are added to food or beverage to products imparts very bright and decisions to purcha
Slide 13: Food Colour Industry
Food Colour Industry 2023 2024 4.7% ₹ 1500-1700Crs Global Food Colour Market (2021-2026) is Incremental demand to be expected Broadly divided into Natural Colour Artificial expected to grow at a CAGR of Y-o-Y basis in global food colour industry Colour Export 5% Domestic 95% Market with Limited Comp
Slide 14: Huge Industry Potential with Limited Players
Huge Industry Potential with Limited Players Industry Potential USD Bn Food Colour Industry Growth o Upsurge in demand for food colors from various end-use industries, including food & beverages, bakery & confectionery, dairy +6% 5.1 products, meat & poultry, and seafood CAGR o Colour is a key compo
Slide 15: About Vidhi Specialty Food Ingredients
About Vidhi Specialty Food Ingredients An Institution in Edible Colour Technology Diversified End User Industry 2nd Largest food colour manufacturer in Asia Confectionaries Food & Beverages Cosmetics & Bakery Accreditation US FDA BIS Personal Care Products Capabilities Pet Foods Pharmaceuticals Exis
Slide 16: Synthetic Food Colours
Synthetic Food Colours Primary Water Soluble Colours Blends of Water Soluble Food Colours Lake Food Colours Primary Food Water Soluble Colours are Obtained from mixing different primary Used where colouring is to be imparted by water soluble, and impart coloring to any colors with one another coatin
Slide 17: Our Journey
Our Journey 1994 2000 2005 2011 2015 2019 2022-23 Vidhi Dyestuffs Mfg. Increased Production Brownfield expansion Capacity expansion plans up to Ltd. incorporated with Capacities to 90 MT / Month with capacities increased ~900 MT / Month with 2 Greenfield production capacity to 250 MT / Month Expansi
Slide 18: Wide Product Range
Wide Product Range Tartrazine Quinoline Yellow Sunset Yellow Carmoisine Amaranth Ponceau 4R Erythrosine Water Soluble Colours Chocolate Brown Allura Red Patent Blue V Indigo Carmine Brilliant Blue Green S Black PN HT Lake Quinoline Lake Sunset Lake Tartrazine Lake Carmoisine Lake Amaranth Lake Ponce
Slide 19: Existing Manufacturing Facility
Existing Manufacturing Facility Manufacturing plant • Our Manufacturing facilities have been audited and found satisfactory by the U.S. FDA • Our present and operational manufacturing facilities are spread over an area of 1,76,000 square feet, located in Dhatav Village of Raigad District in the stat
Slide 20: Diversified End User Industry
Diversified End User Industry Confectionaries & Food Bakery Pet Foods Pharmaceuticals Personal Care Beverages Products Cosmetics Home Care Products 19
Slide 21: Marquee Customers across Industries
Marquee Customers across Industries Pet food, Cattle & Confectionaries & Personal / Home Pet food, Cattle & Food & Beverage Pharmaceuticals Poultry feed Bakery Care Poultry feed Customer & Industry Diversity Britannia Unilever Procter & Gamble Nestle Mars Pepsi Kraft Pfizer Kerry Coca-Cola Sanofi IT
Slide 22: Global Footprint
Global Footprint Continent Wise Sales Country Wise Sales 5% 2% 22% 7% 2% 31% 16% 19% 42% 1% 1% Q3FY26 49% 9MFY26 3% Q3FY26 1% 1% 4% 29% 3% 3% 1% 13% 30% 2% 7% 7% U.S.A ITALY PHILIPPINES THAILAND CHINA Iran INDONESIA U.A.E AMERICAS EUROPE MIDDLE EAST MEXICO BRAZIL SOUTH AFRICA Rest of the World AUSTR
Slide 23: Stringent Regulatory Approvals
Stringent Regulatory Approvals Synthetic Water Soluble Colours European Commission & JECFA Approved 01 02 Aluminum Lakes European Commission & JECFA Approved 03 FD&C Colours U. S. FDA Approved 04 FD&C Lakes U. S. FDA Approved D&C Colours 05 U. S. FDA Approved Blends 06 European Commission, JECFA & U
Slide 24: Certifications & Regulatory Approvals
Certifications & Regulatory Approvals 1st Company in the field of manufacturing synthetic food colours in India to be awarded with ISO 9002 in the year of 2000 ISO 9001:2015, ISO 22000:2005 Company’s all products are certified company Kosher & Halal approved The Management Of Food Hazard Analysis (H
Slide 25: Technology and R&D strength
Technology and R&D strength Dedicated R & D facility with a Fully equipped & functional team of PHD’s & qualified laboratory accredited by The chemists, constantly working on Bureau of Indian Standards process engineering of existing forms the core of Quality products and on development of Control D
Slide 26: Growth Drivers of the Company
Growth Drivers of the Company Superior quality and Access to international global outreach selling and sourcing markets Large domestic market with increased income and Established production expenditure on consumer facilities. products Pro industry initiative Management experience taken by the Gover
Slide 27: High Entry Barriers
High Entry Barriers Technical Know-how Quality Control Process • Technical know-how with years of experience for • Follow stringent quality control norms on batch wise continuous development of new products & colours before delivery to the customer • With strong controls and processes in place, able
Slide 28: Key Differentiators
Key Differentiators Renowned name in Food Colour Industry Product Regulatory Large Product Variants Highly Regulated Market Diversified Usages Consistency is a Key Diversified customers Long Customer Approval Cycle Long standing relationships with Large MNC as a customers Customer & Geography Expans
Slide 29: Our Strength
Our Strength TECHNOLOGY R&D QUALITY Fully equipped & functional laboratory Dedicated R & D facility with a team of Stringent checks and processes accredited by The Bureau of Indian PHD’s & qualified chemists, constantly established at each stage from Raw Standards forms the core of Quality working o
Slide 30: Experienced Board of Directors
Experienced Board of Directors Mr. Bipin M. Manek Mr. Mihir B. Manek Mrs. Pravina B. Manek Mrs. Vidhi H. Parekh Chairman & Joint Managing Non-Executive Wholetime Managing Director Director Director Director Mr. Anil P. Udeshi Mrs. Pranali P. Govekar Mr. Ashit K. Doshi Mrs. Jyoti S. Modi Independent
Slide 31: Strong Management Team
Strong Management Team Mr. Bipin M. Manek Rich & Diversified experience of over 35 years in the field food colour manufacturing. Acknowledged as a thought Chairman & leader in transforming the Company from a small food color manufacturing company to the Asia’s 2nd largest food Managing Director colo
Slide 32: Historical Financials Performance
Historical Financials Performance
Slide 33: Consolidated Operating Performance
Consolidated Operating Performance Revenue from Operations EBIDTA (Rs. in Crs) Profit before Tax (Rs. in Crs) Profit after Tax (Rs. in Crs) (Rs. in Crs) 537.1 84.6 79.0 58.6 +20% +28% +23% +19% 68.5 404.0 60.0 43.4 382.3 55.8 57.2 49.8 37.7 36.5 48.8 298.0 FY22 FY23 FY24 FY25 FY22 FY23 FY24 FY25 FY2
Slide 34: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars (Rs in Crs) Mar-25 Mar-24 Mar-23 Mar-22 Revenue from Operations 382.3 298.0 404.0 537.1 Total Expenses 237.7 185.3 292.9 398.1 Gross Profit 144.6 112.6 111.1 139.0 GP % 37.8% 37.8% 27.5% 25.9% Employee Benefits Expense 12.8 10.4 9.1 9.5 Oth
Slide 35: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Particulars (Rs in Crs) Mar-25 Mar-24 Mar-23 Mar-22 Particulars (Rs in Crs) Mar-25 Mar-24 Mar-23 Mar-22 Equity Share Capital 5.0 5.0 5.0 5.0 Property, Plant and Equipment 125.7 125.5 44.0 35.7 Other Equity 296.1 275.2 245.7 211.9 Capital Work-in-progress 4.0 4.0
Slide 36: Consolidated Historical Cash Flow Statement
Consolidated Historical Cash Flow Statement Cash Flow Statement Mar-25 Mar-24 Mar-23 Mar-22 Cash Flow from Operating Activities Profit before Tax 60.0 48.8 49.8 78.9 Adjustment for Non-Operating Items 11.9 9.1 7.0 6.7 Operating Profit before Working Capital Changes 71.92 57.91 56.82 85.7 Changes in
Slide 37: Sustainable Return Ratios
Sustainable Return Ratios Rs. In Crs Cash flow from Operations Borrowings Borrowings and Cash & Cash Equivalents ROCE (%) Cash & Cash Equivalents Borrowings 89.5 27.0% 95.9 71.2 64.1 17.8% 17.4% 17.1% 49.7 27.4 19.2 19.8 -4.6 7.6 -21.5 1.5 Mar-22 Mar-23 Mar-24 Mar-25 Mar-22 Mar-23 Mar-24 Mar-25 Mar-
Slide 38: Thank You
COMPANY : Vidhi Specialty Food Ingredients Limited CIN :L24110MH1994PLC076156 Mr. Mitesh Manek - CFO Email: mitesh.manek@vidhifoodcolors.com www. www.vidhifoodcolors.com INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Mar
Vidhi Specialty Food Ingredients — Q3 FY2026 Earnings Presentation on 6ix