Prime Fresh Ltd. · BSE:PRIMEFRESH
Prime Fresh — Q3 FY2026 Earnings Presentation
58 slides from Prime Fresh's earnings presentation, Feb 6, 2026
Slide 1: Disclosure under Regulation 30 - Investors Presentation Q3FY26 & 9MFY26
PRIME,.- % PRIME FRESH LIMITED Date: 06.02.2026 To, BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 SCRIP CODE: 540404 Dear Sir/Madam, SUB: DISCLOSURE UNDER REGULATION 30 OF SEBI (LODR) REGULATIONS, 2015- INVESTORS PRESENTATION- Q3FY26 & IMFY26 With reference to the above-mention
Slide 2: From Growers and Feeders to Buyers and Eaters
FROM GROWERS AND FEEDERS TO BUYERS AND EATERS 1.
Slide 3: Contents
CONTENTS Business Highlights 3‐18 Business Overview 19‐31 Industry Overview 32‐34 Building Community 35‐37 Our Unique Approach 38‐40 Our Circle of Competence 41‐44 Financial Performance 45‐54 Management Commentary 55 Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 2.
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 3.
Slide 5: Q3FY26 Highlights
Q3FY26 HIGHLIGHTS Q1FY26 SNAPSHOT REVENUE NET INCOME INR 743 Mn INR 47 Mn YoY 37% YoY 156% QoQ 12% QoQ 51% 01 04 02 PAT MARGIN 03 EBITDA (EX OI) INR 63 Mn 6% YoY 127% YoY 300 bps QoQ 62% QoQ 170 bps Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 4.
Slide 6: 9MFY26 Highlights
9MFY26 HIGHLIGHTS Q1FY26 SNAPSHOT REVENUE EBITDA (ex Other Income) INR 1941 Mn INR 142 Mn YoY 27% YoY 47% PAT PAT MARGIN INR 107 Mn 6% PAT MARGIN YoY 46% YoY 70 bps 6% YoY 300 bps QoQ 100 bps Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 5.
Slide 7: Financial Highlights - Q3FY26 Sales Tonnage
FINANCIAL HIGHLIGHTS‐ Q3FY26 Sales Tonnage (In MT) 5.3x 21454 16244 10702 9711 8634 8850 8875 8179 8003 8269 7068 4003 3822 3622 3401 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q3FY25 Q4FY25 Q1FY26 Q2FY26 Q3FY26 96% YOY 204% YoY 32% QoQ Prime Fresh Limited |Earnings Presen
Slide 8: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS Revenue‐ 33% D/E – 0.12 CAGR Average (2020‐2025) (2020‐2025) EBITDA (Ex Other Income)‐ 34% ROE ‐ 18% CAGR Average (2020‐2025) (2020‐2025) ROCE ‐ 21% PAT ‐ 41% Average CAGR (2020‐2025) (2020‐2025) Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 7.
Slide 9: Vision 2031: Laying the Foundation for Tomorrow, Today (1/3)
VISION 2031: LAYING THE FOUNDATION FOR TOMORROW, TODAY (1/3) 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 10: Vision 2031: Laying the Foundation for Tomorrow, Today (2/3)
VISION 2031: LAYING THE FOUNDATION FOR TOMORROW, TODAY (2/3) 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 high‐
Slide 11: Vision 2031: Laying the Foundation for Tomorrow, Today (3/3)
VISION 2031: LAYING THE FOUNDATION FOR TOMORROW, TODAY (3/3) • Leveraging underutilized agri‐infrastructure. We are developing a City Distribution Business, Collaborating with local aggregators and aimed at servicing the large and fragmented general farmer networks trade (GT) segment. This model wil
Slide 12: Preparing for Orbit Pivot: Step Towards Greenfield Expansion
PREPARING FOR ORBIT PIVOT: STEP TOWARDS GREENFIELD EXPANSION Q1FY26 SNAPSHOT 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 Shr
Slide 13: Ahead of the Curve
AHEAD OF THE CURVE 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 Cons
Slide 14: 9MFY26 Key Highlights
9MFY26 KEY HIGHLIGHTS • We successfully migrated from the BSE SME platform to the Mainboard of BSE ` Limited (BSE). • Entering the organic food market enables us to align with growing consumer demand for health, sustainability, and transparency—opening up premium pricing opportunities, strengthening
Slide 15: We at a Glance
WE AT A GLANCE INTRODUCTION MARKET REACH • Established in 2007 & headquartered in • Export Network in 6 countries Ahmedabad • 2440 Suppliers & Local Area Aggregators • 24*7 Operations across 19+ locations round the • 85+ APMC partners year • 20+ Exporters • Listed on BSE SME since March 2017 upto 5t
Slide 16: From SME to Spotlight: Migrated to Mainboard of BSE
FROM SME TO SPOTLIGHT: MIGRATED TO MAINBOARD OF BSE LTD (wef 6th June 2025) Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 15.
Slide 17: Our Vision, Mission and Goal
OUR VISION, MISSION AND GOAL 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 foster
Slide 18: Our Core Values
OUR CORE VALUES Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 17.
Slide 19: Mapping Our Progress Over the Years
MAPPING OUR PROGRESS OVER THE YEARS 2017‐2020 2025 2011‐2014 • Started Distribution Center • Successfully got listed on 2021‐2024 in Bengaluru Started and BSE SME Platform. Started • Launched the B2C ecommerce Lucknow. Collection Centre for 2007‐2010 • Introduced first refrigerated 2015‐2016 Mango a
Slide 20: Business Overview
BUSINESS OVERVIEW Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 19.
Slide 21: 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 22: Business Model Canvas
BUSINESS MODEL CANVAS 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 calculat
Slide 23: Your Trusted Connection from Farms to Consumers
YOUR TRUSTED CONNECTION FROM FARMS TO CONSUMERS FROM PROCUREMENT TO DELIVERY B2C Retail (Consumer) Distribution (Logistic & Supply Chain Planning) Mandi Primary Distribution Supply From Center Farms Aggregation/ Wholesale B2B Collection Center (E‐Commerce) Ripening Exports HoreCa Super Food Processo
Slide 24: Core Products Portfolio
CORE PRODUCTS PORTFOLIO Onions Pomegranates Oranges Bananas Sweet Limes Grapes Potatoes Apples Mangoes Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 23.
Slide 25: Procurement That Supports Farmers and Feeds Nation
PROCUREMENT THAT SUPPORTS FARMERS AND FEEDS NATION Kashmir Pomegranate Himachal Pradesh Long term association with suppliers Bananas Chandigarh Rajasthan Grapes Strong Procurement Team Uttar Pradesh with robust farmer connects Onion Gujarat Well Defined processes with Mangoes responsible sourcing an
Slide 26: Expanding Reach Built by Widespread Distribution Network
EXPANDING REACH BUILT BY WIDESPREAD DISTRIBUTION NETWORK A well‐oiled distribution system – getting fresh produce where it matters, when it matters. Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 25.
Slide 27: Glimpse of Business Operations and Activities
GLIMPSE OF BUSINESS OPERATIONS AND ACTIVITIES Extensive hubs — ensuring every harvest finds its buyer. Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 26.
Slide 28: Our Key Supply Chain Partners for Fruits and Vegetables
OUR KEY SUPPLY CHAIN PARTNERS FOR FRUITS AND VEGETABLES 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. Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 27.
Slide 29: Our Key Supply Chain Partners for 3PL Solutions and Services
OUR KEY SUPPLY CHAIN PARTNERS FOR 3PL SOLUTIONS AND SERVICES 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 ware
Slide 30: Voices of Our Valued Partners (Testimonials 1/2)
INSIGHTS FROM THE FIELDS‐ TESTIMONIALS (1/2) VOICES OF OUR VALUED PARTNERS- THE PROOF OF OUR PROMISE Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 29.
Slide 31: Voices of Our Valued Partners (Testimonials 2/2)
INSIGHTS FROM THE FIELDS‐ TESTIMONIALS (2/2) VOICES OF OUR VALUED PARTNERS Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 30.
Slide 32: Certifications
CERTIFICATIONS APEDA and FSSAI certified, with ISO 9001:2015 accreditation — validating our commitment to safe, high‐quality, and globally compliant agri‐supply chain operations. We have recently received certificate to deal in organic fruits and vegetables segment. Certified to deal in organic frui
Slide 33: Industry Overview
INDUSTRY OVERVIEW Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 32.
Slide 34: Agricultural Prospects in FY26 (1/2)
AGRICULTURAL PROSPECTS IN FY26 (1/2) • India is the world’s second largest producer of food grains, fruits and vegetables. • India has access to several natural resources that provides it a competitive advantage in the food processing sector. Due to its diverse agro‐ climatic conditions, it has a wi
Slide 35: Agricultural Prospects (2/2)
AGRICULTURAL PROSPECTS (2/2) India is well-positioned to emerge as the global leader in the fruits and vegetable processing sector Key Processed Fruits & Vegetables Products in Indian Market ‐There are several processed fruits and vegetables that are widely used in India, both in households and in t
Slide 36: Building Community via Collaboration and Relationships
BUILDING COMMUNITY VIA COLLABORATION AND RELATIONSHIPS Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 35.
Slide 37: With Farmers. Every Step. Every Season.
WITH FARMERS. EVERY STEP. EVERY SEASON. Better prices for their produce through improved market access and reduced dependence on middleman . By cutting out middlemen, farmers avoid hidden commissions and price manipulation. They get a larger share of the final sale price — earning what their produce
Slide 38: Sustained Engagement with the Community
SUSTAINED ENGAGEMENT WITH THE COMMUNITY Direct‐from‐source procurement improves margins and transparency. 01 Consistent supply through national presence ensures full Just‐in‐time supply model shelves and zero stockouts 06 02 reduces inventory burden and waste. Diverse product range, including organi
Slide 39: Our Unique Approach
OUR UNIQUE APPROACH Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 38.
Slide 40: Managing Volatility: Two Approach Strategy
MANAGING VOLATILITY: TWO APPROACH STRATEGY Competitive positioning in a tough sector: Wining Strategy Reducing State Concentration‐ • By targeting known crop belts like: Nashik for onions, Ratnagiri for mangoes, Pomegranates from Maharashtra, Gujarat and Rajasthan it ensures that sourcing is aligned
Slide 41: Managing Spoilage via Integrated Approach
MANAGING SPOILAGE VIA INTEGRATED APPROACH Approx, 18%‐24% of vegetables are wasted due to faulty post‐harvest practices during harvesting, packaging, storage, grading etc. Parameter Industry Level Loss Savings by PFL Corrective Measures Farm Level 3%‐7% 2%‐3% Efficient harvesting, grading, and farm‐
Slide 42: Our Circle of Competence
OUR CIRCLE OF COMPETENCE Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 41.
Slide 43: Where We Create Disproportionate Impact (1/3)
WHERE WE CREATE DISPROPORTIONATE IMPACT (1/3) Our expertise in supply chain Strong distribution network across 18 states. management is reflected in below 3% F&V wastage in 01 supply chain. Only public listed company with 07 02 unique business model across 6+ channels. We are the primary supplier of
Slide 44: Where We Create Disproportionate Impact (2/3)
WHERE WE CREATE DISPROPORTIONATE IMPACT (2/3) We operate through an Omni channel sales Backward integration through structured strategy encompassing HoReCa, General Trade, contract farming to ensure consistent supply Retail, and APMC markets — HoReCa offers and reduce procurement costs. high‐volume,
Slide 45: Optimized Procurement for Maximum Supply Chain Impact (3/3)
OPTIMIZED PROCUREMENT FOR MAXIMUM SUPPLY CHAIN IMPACT (3/3) 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 01 with suppliers. Absence of
Slide 46: Financial Performance
FINANCIAL PERFORMANCE Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 45.
Slide 47: Financial Highlights - Q3FY26
FINANCIAL HIGHLIGHTS‐ Q3FY26 All figures in Millions Revenue from Operations (In INR Mn) EBITDA (Ex Other Income) 1.4x 743.27 2.3x 62.98 664.04 543.93 38.87 27.74 Q3FY25 Q2FY26 Q3FY26 Q3FY25 Q2FY26 Q3FY26 PAT (in INR Mn) 2.6x 47.25 EBITDA Margin PAT Margin 8% 6% 6% 31.20 5% 5% 18.43 3% Q3FY25 Q2FY26
Slide 48: Revenue Breakup
REVENUE BREAKUP Q3FY25 Q3FY26 12% 8% 88% 92% F&V Business Service Business F&V Business Service Business Prime Fresh Limited |Earnings Presentation Q3FY2026 & 9MFY26 47.
Slide 49: Financial Highlights - Historical (Consolidated Figures)
FINANCIAL HIGHLIGHTS‐ HISTORICAL (CONSOLIDATED FIGURES) All figures in Millions 123.8 Revenue from Operations 4.26x 4.14x EBITDA (ex Other Income) PAT 2067.7 97.3 92.1 1492.1 71.1 70.4 48.8 51.3 993.5 42.1 772.0 33.4 655.8 29.0 499.7 23.8 16.6 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 F
Slide 50: Financial Highlights - Historical (Consolidated Figures)
FINANCIAL HIGHLIGHTS‐ HISTORICAL (CONSOLIDATED FIGURES) ROE ROCE 38% 36% 20% 18% 17% 19% 16% 11% 15% 13% 15% 13% FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 Interest Coverage Ratio Working Capital Cycle Days 39 11 4 17 20 11 779 20 81 20 21 23 24 45 1801 112 96 11 95 112 115 5 5 636
Slide 51: Profit and Loss Statement - Q3FY26 & 9MFY26 (Consolidated)
PROFIT AND LOSS STATEMENT‐ Q3FY26 & 9MFY26 (CONSOLIDATED FIGURES) All figures in Millions Particulars (Rs in Mn) Q3FY26 Q2FY26 QoQ Q3FY25 YoY 9MY26 9MFY25 YoY Revenue from Operations 743 664 12% 544 37% 1941 1524 27% Other Income 1 2 1 3 8 Total Revenue 744 666 12% 545 37% 1944 1531 27% Total Expens
Slide 52: Profit and Loss Statement (Consolidated) - Historical
PROFIT AND LOSS STATEMENT (CONSOLIDATED)‐ HISTORICAL All figures in Millions Particulars (Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Revenue from Operations 499.7 655.8 772.0 993.5 1492.1 2067.7 Other Income 0.1 0.2 2.2 3.5 3.7 9.4 Total Revenue 499.8 656.0 774.3 996.9 1495.8 2077.1 Total Expenses exce
Slide 53: Balance Sheet (Consolidated) - Historical
BALANCE SHEET (CONSOLIDATED)‐ HISTORICAL All figures in Millions Key Balance Sheet Items(Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Equity Share Capital 34.9 39.4 118.3 125.2 136.5 136.5 Reserves 8.6 141.4 107.7 178.6 487.9 575.2 Borrowings 33.9 40.8 41.9 47.2 0.4 43.5 Other Liabilities 11.8 14.4 3.1 3
Slide 54: Cash Flow Statement (Consolidated) - Historical
CASH FLOW STATEMENT (CONSOLIDATED)‐ HISTORICAL All figures in Millions Particulars (Rs in Mn) FY20 FY21 FY22 FY23 FY24 FY25 Cash Flow From Operating Activities ‐31.0 ‐19.3 ‐0.3 ‐12.3 ‐109.1 ‐107.8 Cash Flow From Investing Activities ‐0.1 ‐0.1 ‐4.1 ‐2.8 ‐66.8 71.4 Cash Flow From Financing Activities
Slide 55: Financial Resilience Reinforcing Momentum
FINANCIAL RESILIENCE REINFORCING MOMENTUM Our bottom line has expanded at a faster pace than our topline, with a 41% CAGR vs. 33% over FY20–FY25 respectively. Near‐zero debt (D/E 0.06). Long Term Borrowings is NIL in FY25. Our working capital cycle remained stable over the last two years, with worki
Slide 56: Management Commentary
MANAGEMENT COMMENTARY Mr Hiren Ghelani, Founder and Whole Time Director, said “Dear Shareholders, Q3 FY2026 was an extremely good quarter on all Parameters! Prime Fresh scaled crossed many new milestones on the back of focused efforts. Team Prime Fresh continued to focus on Consolidation, Operationa
Slide 57: Safe Harbor
SAFE HARBOR 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 securities, a
Slide 58: Prime Fresh Limited
For further information; please visit: www.primefreshlimited.com PRIME FRESH LIMITED +91 9909032351 ir@primefreshlimited.com Prime Fresh Limited |Earnings Presentation Q3FY2026 57.