Adf Foods Limited · NSE:ADFFOODS
Adf Foods — Q2 FY26 Earnings Presentation
48 slides from Adf Foods's earnings presentation, Nov 7, 2025
Slide 1: Exchange filing cover letter
7th November, 2025 AtJr F O ODS LT D. 'Jeedi_,Uf dw wodd.. National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Department of Corporate Services, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Dalal Street, Mumbai - 400 051. Mumbai - 400 001. Symbol: ADFFOODS Scrip
Slide 2: ADF Foods Ltd Investor Presentation Q2 FY26
FOOD LTD. 1 di119 tit wotld.. ADF Foods Ltd Investor Presentation Q2 FY26 Nov 2025
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by ADF FOODS 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, and
Slide 4: Contents
Contents 01 Company Overview 02 Business Overview 03 Growth Strategy & Drivers • 5 Brands, 5 Stories • Strong Marketing & Distribution ADF • Manufacturing Excellence • Strategic Innovation SC®UL • People & Capabilities 04 ESG 05 Annual Performance Highlights
Slide 5: Company Overview
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Slide 6: ADF Snapshot
ADF Snapshot • -- • -- El _ _ Leading Manufacturer of Prepared Ethnic Food 9-decade Vintage with origins dating back to 1932 Cutting-edge Manufacturing & Extensive Distribution A Culinary Powerhouse with Diverse Products Leading Manufacturer & Supplier of prepared Cutting-edge ethnic food, specializ
Slide 7: Our Legacy
Our Legacy 2016 2023 Truly Indian brand Expanded launched in Germany manufacturing 1996 mainstream market. capacity at the Moving towards Products included RTE Nadiad plant to ₹1,000 Crore Set up a new foods, chutneys and 1960 1992 meet rising Revenue manufacturing sauces global demand Listed on BSE
Slide 8: Business Overview
0 D LTD. Business Overview
Slide 9: Q2 & H1 FY26 Key Business Update
Q2 & H1 FY26 Key Business Update Brand Refresh - Ashoka Brand Refresh - Truly Indian CAPEX - Surat Greenfield 1 ILi 11m1 r Same Authentic Flavour Real Indian food, Near Completion Now in a New Look Made fresh in India Launched a fresh new look with vibrant Introduced a fresh, dynamic design for the
Slide 10: Q2 & H1 FY26 Key Financial Update (Standalone)
Q2 & H1 FY26 Key Financial Update (Standalone) Q2 FY26 Delivers stellar Performance INR 140.1 Crores INR 37.7 Crores INR 29.7 Crores Q2 FY26 Revenue from Operations EBITDA PAT 11.5% YoY 36.1% YoY 39.1% YoY • Revenue from operations at INR 140.1 crores, • EBITDA increased by 36.1% YoY from INR • PAT
Slide 11: Q2 FY26 Financial Performance
Q2 FY26 Financial Performance Standalone Performance Revenue from Operations (INR Cr.) EBITDA (INR Cr.) & EBITDA Margin (%) PAT (INR Cr.) & PAT Margin (%) 22.0% 22.4% 26.9% 17.0% 16.9% 21.2% 140.1 37.7 29.7 125.6 27.7 21.4 100.3 22.5 17.0 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY
Slide 12: Segment Performance
Segment Performance Processed Foods Distribution Revenue from Operations (INR Cr.) Revenue from Operations (INR Cr.) 130.2 133.3 112.2 31.2 29.3 20.7 Q2 FY25 Q1 FY26 Q2 FY26 Q2 FY25 Q1 FY26 Q2 FY26 EBITDA (INR Cr.) & EBITDA Margin (%) EBITDA (INR Cr.) & EBITDA Margin (%) [ 22.3% [ 21.5% [ 29.3% ( 17
Slide 13: Business Segments
Business Segments • Business comprises core manufacturing i.e., processed foods business and agency distribution business • 2 Core Segments Processed Foods Distribution One of the largest Indian exporters of processed foods 17% Strong presence in US and UK li!ULf IN~IAJN. ADF SC®UL 83% • Agency dist
Slide 14: Product Portfolio
Product Portfolio Key Products [I - · Frozen Products - - ] [_■_1a_f Ready-to-eat & Ready-to-cook _ ____ J [_._ :_ 1 Food Accompaniments _ _ _ _ _] [_~_,,_~h_____J Spices & Others • Snacks & Samosas • Curries – Regular & Vegan • Pickles • Spices • Indian Breads • Cooked Rice • Chutneys • Tamarind •
Slide 15: Growth Strategy and Drivers
0 D LTD. Growth Strategy and Drivers
Slide 16: Strategic Growth Pillars
Strategic Growth Pillars Pillar 1 5 Brands, 5 Stories 01 Pillar 2 02 Strong Marketing & Strengthened Distribution Aligning Brand Pillar 3 Strength with 03 Manufacturing Excellence Scalable Execution Pillar 4 04 • Strategic Innovation 05 Pillar 5 • People & Capabilities: Strengthened Teams 0 15 AB~ ~
Slide 17: Key Growth Drivers
Key Growth Drivers Continuous & Strategic Brand Investments - Potential to reach INR 1,000+ crores Revenue in FY27 1,000+ Strengthening market presence through deeper penetration and enhanced + shelf space across all brands 100+ ADF + ~250 S<®UL + Annual Growth Rate Growing Store Presence Strategic
Slide 18: 5 Brands, 5 Stories
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Slide 19: 5 Brands, 5 Stories
5 Brands, 5 Stories Bold Flavours Made with Traditional Recipes, using Authentic Ingredients Target: South Asian Diaspora USA, Canada, UK, Europe, APAC, Middle East Affordable Indian Kitchen Staples for Convenient, Ready-to-eat Solutions for Everyday Use Globally Curious Consumers Target: Budget con
Slide 20: Ashoka: ADF Foods' Flagship Brand
Ashoka: ADF Foods' Flagship Brand ll Target Audience Born in 1980, Ashoka is ADF Foods' flagship brand catering to South Asian Sales & Distribution Channels diaspora families and working professionals seeking convenient, Ashoka Brand Sales (INR Cr.) authentic Indian dishes -- --- --· Product Feature
Slide 21: Ashoka - Brand Refresh
Ashoka - Brand Refresh Same Authentic Flavour. Now in a New Look! Launched a new visual identity, giving the portfolio a refreshed appearance with vibrant colours Highlighting the heritage of the brand (since 1980) • Creating bold colour blocks on shelf by using rich hues & patterns in the design •
Slide 22: Truly Indian: Unlocking Global Markets With Authentic Indian Flavours
Truly Indian: Unlocking Global Markets With Authentic Indian Flavours Bridging Cultures with Authentic Indian Taste Target Audience Presence Targeted at the global mainstream population, specifically non-Indian Strong presence across Germany, now growing strong in USA audiences seeking to try authen
Slide 23: Truly Indian - Brand Refresh
Truly Indian - Brand Refresh Bold new look to showcase street-style Indian cuisine Our original packaging focused on function—clear claims, a classic box format, and a “restaurant style” promise. It delivered on nutrition and convenience but didn’t reflect the bold, handcrafted spirit of the food in
Slide 24: ADF Soul: Delicious, better-for-you packaged food products
ADF Soul: Delicious, “better-for-you” packaged food products For modern Indian urban consumers Target Audience Sales & Distribution Channels • - - - - - - ~ • - - - - - Urban audience, residing in metropolitan cities Own website: https://soul-foods.in/ Consumers seeking products that balance flavour
Slide 25: Camel & Aeroplane: Our Other Esteemed Brands
Camel & Aeroplane: Our Other Esteemed Brands Delighting Arabic Offering Affordable Solutions to Consumers for 100+ years Budget Conscious Consumers Premium brand serving Tradition-Preserved Value for money brand targeted at quality - Recipes for Arab audiences Target Audience conscious expat consume
Slide 26: Strong Marketing & Strengthened Distribution
0 D LTD. J. d,,, tic w di .. Strong Marketing & Strengthened Distribution
Slide 27: Ashoka: Marketing Initiatives
Ashoka: Marketing Initiatives Branding and on-ground activation of our flagship brand Ashoka ", .. . . -\ ' -- ~ JI ... =:c,....;;.?-.I . 29 O ·•--------------- ABf' F O O D S TT D 'Jl'Nli111tlie w01td ..
Slide 28: Ashoka: Marketing Initiatives
Ashoka: Marketing Initiatives r Increased Presence on Social Media Presence on OTT, YouTube Ashoka Ad Campaigns on TV & other Digital platforms \. .,j Ir , Autonomou~ Voh1clc; j - 1- - ~~ Tilt: T l\lt~Ot,' "l.ll,\ ca» ---------------- - T11t: ru1t}\ut' L,1>L\ -=- ------------------- . .-.., ... . •'
Slide 29: Truly Indian: Marketing Initiatives
Truly Indian: Marketing Initiatives Branding and on-ground activation for Truly Indian 30
Slide 30: Truly Indian: Marketing Initiatives
Truly Indian: Marketing Initiatives Increased Presence on Social Media Influencer Collaborations 0 • :z~~~mml • lllm>©~~ 31 O ·•--------------- AB I OODS LTD Judi,r9 t!.r ,,,,.,(,J
Slide 31: ADF Soul: Marketing Initiatives
ADF Soul: Marketing Initiatives Branding and on-ground activation Mctde better, tnstes bette 29 _ A~f' Y ( [ J1 TD FOODS 'JrNli,uJ Ifie wodd ..
Slide 32: ADF Soul: Marketing Initiatives
ADF Soul: Marketing Initiatives [-·- - - - - - - - - - - - - -)[-----=-==~-----r=========::::::::::--•1 Continued presence on Social Media + •• , )[_ _ _ _ _ _) WhatsApp / Email and Referral Marketing E-Commerce and Quick Commerce Marketing (;:\ Track Order . . . ., ~ < Pickles X ( Samosa X COCONUT
Slide 33: Warehousing Facilities
Warehousing Facilities Cold storage facility in New Jersey, USA Warehousing and Distribution Facilities • Combined area of 100,000 sq. ft for warehousing and distributing operations shared among two warehouses in Atlanta and New Jersey (NJ) • Enhanced capabilities through the establishment of a new
Slide 34: Manufacturing Excellence
Ao 0 0 D LTD. J.~d,,, tic w di .. Manufacturing Excellence
Slide 35: Manufacturing Facilities
Manufacturing Facilities Plant 1 Nadiad, Gujarat Plant 2 Nasik, Maharashtra • Total Built up area - ~26,000 Sq.mt. • Total Built up area – ~12,000 Sq.mt. • Frozen foods (Snacks & Samosas, Indian Breads, Curries, • RTE/RTC (Cooked Rice, curries and spices; Meal Fruits & Vegetables (Cut), etc); Meal a
Slide 36: Ongoing CAPEX – Surat Greenfield expansion (Current Status)
Ongoing CAPEX – Surat Greenfield expansion (Current Status) i 1 l L. Expansion project of the Greenfield facility near completion, expected to commence operations in H2 FY26 0 35 AB~ ~OODS I.TD. '7eNli1u1 tlu, wml,L
Slide 37: Strategic Innovation
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Slide 38: Shaping Products and Processes for a Changing Market
Shaping Products and Processes for a Changing Market Driving innovation through practical solutions that balance consumer needs with scalability and quality. New Product Development Category Expansion Packaging Adaptation Launch of combo packs – Royal Introduction of health-forward Shelf-stable form
Slide 39: Supported by Stringent Quality Control
Supported by Stringent Quality Control Quality control certifications and processes ensure high standards and excellence in our industry SMETA~• Sede~ 0 UKAS PRODUCT Food Safety CERTIFICAT ION CERTIFICATED 0005 38 ;\Bf' F ,,:, \ ' 1 .:i :.; I T .)_ ·_7. ..,.•ff•~ •::~- .,,:.Vi~i .
Slide 40: People & Capabilities
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Slide 41: Governed by experienced Board Of Directors
Governed by experienced Board Of Directors Bimal Thakkar Viren Merchant Jay Mehta Ameet Hariani Chairman, Managing Non-Executive Director Non-Executive Director Independent Director Director and CEO • 40+ years of experience in • 40+ years of experience and • 40+ years of rich industrial • 35+ years
Slide 42: Organisation Chart
Organisation Chart CMD India Support Sales and Marketing Manufacturing operations Business Functions President USA Business 11 Country / Sales Director Operations j President J CFO Managers Vice President Marketing Head VP - Sales & Strategy Manufacturing Canada : 1 USA : 5 Sales Head CS, VP - Legal
Slide 43: ESG
Ao 0 0 D LTD. J.~d,,, tic w di .. ESG
Slide 44: Creating a Sustainable Future
Creating a Sustainable Future Sustained Renewable Power Management Growth in Renewable Energy Consumption J (__ I _ _) @_ _) (__ Water Efficiency & Circularity Air Quality and Waste Reduction 550-kW solar plant Significant Growth in ZLD Excellence Reduced NOx Emissions Renewables The 550-kW solar in
Slide 45: Annual Performance Highlights
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Slide 46: Consolidated 4-year Financial Highlights
Consolidated 4-year Financial Highlights Particulars (INR crores unless stated) FY22 FY23 FY24 FY25 Profit & Loss Highlights Revenue from Operations 421.2 450.3 520.3 589.6 Gross Profit 211.5 235.9 276.2 341.4 Gross Profit (%) 50.2% 52.4% 53.1% 57.9% EBITDA 66.6 80.6 104.9 98.3 EBITDA Margin (%) 15.
Slide 47: Consistent Shareholder Returns
Consistent Shareholder Returns Value creation for shareholders Consistent shareholder value creation through dividend payouts and buyback of shares INR ~97 Cr. returned to our shareholders since FY22 43.9 13.2 13.2 11.0 8.8 6.6* FY22 FY23 FY24 FY24 FY25 FY26 * Interim Dividend (INR 6.6 Cr) - Regular
Slide 48: Thank You!
Thank You! ADF Foods Limited Ernst & Young LLP CIN: L15400GJ1990PLC014265 Investor Relations Advisory Shardul Doshi, CFO Ravi Udeshi Sumedh Desai shardul@adf-foods.com ravi.udeshi@in.ey.com sumedh.desai@in.ey.com FOODS l TD. 9eedilUf tlw w04U..