Adf Foods Limited · NSE:ADFFOODS
Adf Foods — Q3 FY26 Earnings Presentation
46 slides from Adf Foods's earnings presentation, Feb 3, 2026
Slide 1: Exchange filing cover letter
F O ODS LTD. 3rd February, 2026 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 Code: 519183 Sub: Investor
Slide 2: ADF Foods Ltd Investor Presentation Q3 & 9M FY26
~· FOOD TD. J dim; tit wo~ld.. ADF Foods Ltd Investor Presentation Q3 & 9M FY26 Feb 2026 1
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
OD TD. 1, J,,, 1ft w M.. Company Overview
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
I' t[) 0 D TD. 1, J,,, 1ft w M.. Business Overview
Slide 9: Q3 & 9M FY26 Key Financial Update (Consolidated)
Q3 & 9M FY26 Key Financial Update (Consolidated) Q3 FY26 Delivers stellar Performance INR 191.0 Crores INR 37.1 Crores INR 29.2 Crores* Q3 FY26 Revenue from Operations EBITDA PAT 29.5% YoY 40.6% YoY 55.7% YoY • Strong double digit growth despite • Strong YoY growth with improved • PAT increased by 5
Slide 10: Q3 & 9M FY26 Key Financial Update (Standalone)
Q3 & 9M FY26 Key Financial Update (Standalone) Q3 FY26 Delivers stellar Performance INR 137.2 Crores INR 34.4 Crores INR 27.2 Crores* Q3 FY26 Revenue from Operations EBITDA PAT 13.3% YoY 35.1% YoY 34.7% YoY • Continued double digit growth despite • Strong YoY growth with improved • PAT increased by
Slide 11: Q3 FY26 Financial Performance
Q3 FY26 Financial Performance Consolidated Performance Revenue from Operations (INR Cr.) EBITDA (INR Cr.) & EBITDA Margin (%) PAT (INR Cr.) & PAT Margin (%) ( 17.9% J 22.0% ) ( 19.4% ) ( 12.7% r 16.2% ] ( 15.3% 191.0 35.8 37.1 29.2 * 147.5 162.6 26.4 26.4 18.8 Q3 FY25 Q2 FY26 Q3 FY26 Q3 FY25 Q2 FY26
Slide 12: Segment Performance
Segment Performance Processed Foods Distribution Revenue from Operations (INR Cr.) Revenue from Operations (INR Cr.) 415.8 365.1 65.4 70.7 9M FY25 9M FY26 9M FY25 9M FY26 EBITDA (INR Cr.) & EBITDA Margin (%) EBITDA (INR Cr.) & EBITDA Margin (%) r [ 14.0% l [ 16.2% 22.9% l [ 24.1% J 100.2 83.4 11.4 9
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 15% One of the largest Indian exporters of processed foods Strong presence in US and UK • Agency distribution business for leading
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
I' t[) 0 D TD. 1, J,,, 1ft w M.. 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
0 D LTD. 5 Brands, 5 Stories
Slide 19: Brands, 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: 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 22: 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 23: 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 24: Strong Marketing & Strengthened Distribution
0 D LTD. Strong Marketing & Strengthened Distribution
Slide 25: Ashoka: Marketing Initiatives
Ashoka: Marketing Initiatives Branding and on-ground activation of our flagship brand Ashoka 24 ABf' FOODS TTD 'JeNli1u1tliewmld.
Slide 26: 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~ Voh1clo; j - 1- - ~~ Tilf.Tl\l t~Of,' "l.ll,\ ca» ------------··-- - T11t: ru1t}Wft.,,1>L\ -=- -----·-----·------· ------------- 11 -
Slide 27: Truly Indian: Marketing Initiatives
Truly Indian: Marketing Initiatives Branding and on-ground activation for Truly Indian 26 AB I OODS LTD u J,•('t/i,,9 11.,,"'..
Slide 28: Truly Indian: Marketing Initiatives
Truly Indian: Marketing Initiatives Increased Presence on Social Media Influencer Collaborations 0 • :z~~~mml • !mi§)©~~ O··• 27 AB I OODS LTD Judi,r9 t!.r ,,,,.,(,J
Slide 29: ADF Soul: Marketing Initiatives
ADF Soul: Marketing Initiatives Branding and on-ground activation Mctde better, tnstes bette 0 28 ABf' FOODS TTD 'JrNli,uJ Ifie wodd .
Slide 30: ADF Soul: Marketing Initiatives
ADF Soul: Marketing Initiatives Continued presence on Social Media WhatsApp / Email and Referral Marketing E-Commerce and Quick Commerce Marketing ) < Pickle s X < Samosa X India's 1st Pickles • Showing results for Hsamosa N Let's spice up Showing results for "pickles" Olive Oil your pantry with Han
Slide 31: 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 32: Manufacturing Excellence
Ao 0 0 D LTD. 1.~d,,, 1/r w di .. Manufacturing Excellence
Slide 33: Manufacturing Facilities 28,000 MT
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 34: Surat Greenfield Update
Surat Greenfield Update Surat project expansion: Pilot run done, Phase 1 to be operational by Q4FY26 0 33 AB~ ~OODS I.TD. '7eNli1u1 tlu, wml,L
Slide 35: Strategic Innovation
0 D LTD. Strategic Innovation
Slide 36: 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 37: 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 36 ;\Bf' F ,,:, \ ' 1 .:i :.; I T .)_ ·_7. ..,.•ff•~ •::~- .,,:.Vi~i .
Slide 38: People & Capabilities
0 D LTD. People & Capabilities
Slide 39: 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 40: 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 41: ESG
Ao 0 0 D LTD. 1.~d,,, 1/r w di .. ESG
Slide 42: 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 43: Annual Performance Highlights
0 D LTD. Annual Performance Highlights
Slide 44: 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 45: 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 46: Thank You!
Thank You! ADF Foods Limited Ernst & Young LLP CIN: L15400GJ1990PLC014265 Investor Relations Advisory Srinivas Ayyagari, CFO Ravi Udeshi Sumedh Desai srinivas@adf-foods.com ravi.udeshi@in.ey.com sumedh.desai@in.ey.com FOODS l TD. 9eedilUf tlw w=&l..