Dsm Fresh Foods Limited · BSE:ZAPPFRESH
Dsm Fresh Foods — H1 FY2026 Earnings Presentation
39 slides from Dsm Fresh Foods's earnings presentation, Nov 14, 2025
Slide 1: BSE filing cover letter for investor presentation
Date: 14/11/2025 To, Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001, Maharashtra, India Scrip Code: 544568 Scrip ID: ZAPPFRESH Sub: Investor Presentation under Regulation 30 read with Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disc
Slide 2: DSM Fresh Foods Limited Investor Presentation H1FY26
DSM Fresh foods limited INvestor PResentation h1fy26
Slide 3: Safe Harbour statement
INvestor PResentation h1fy26 Safe Harbour statement This presentation and the accompanying slides (the “Presentation”), which have been prepared by DSM Fresh Foods Ltd (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to
Slide 4: H1FY26 operating highlights
H1FY26 Monthly App online orders downloads ~ 1.4 lacs 100K + Average Order cancelled Value orders ~ INR 540 <0.5 %
Slide 5: Company overview
INvestor PResentation h1fy26
Slide 6: Board and management team
INvestor PResentation h1fy26 MRS PRIYA AGGARWAL Surendra Gond Akhil GUpta Director COO Chief Strategy Officer MBA: 13+ years of experience in brand strategy dual MBAs along with an LLB and LLM in MBA, CA and communication Corporate & Commercial Law. 22+ years of experience in financial services indu
Slide 7: Deepanshu Manchanda, Managing Director & Chairman
MR. DEEPANSHU MANCHANDA Managing Director & Chairman Zappfresh
Slide 8: Challenges: problems we are solving
Challenges PROBLEMS WE ARE SOLVING Fragmented and Inefficient Supply Chain Scattered small players, inconsistent operations, and lack of scalability lead to higher costs and reduced margins. Poor Hygiene, Quality, and Freshness Standards Traditional retail and basic processing units lack standardize
Slide 9: Key strengths of the business
Experienced Management Farm-to-Fork Business Model High-Quality Innovative Farms Team with over 15 years of experience in Fresh, unprocessed meat from farms Sourcing from farms that use innovative online retail directly to consumers technologies, without antibiotics, supporting healthy products Prio
Slide 10: Product range across 100+ SKUs
Chicken Mutton @ 100+ SKUs across 8 categories Fish Sea Food @ Chicken, Mutton, Fish, etc. ; : Cold Cuts Ready-to-Cook ile a: ) 100% Same-Day Chemical-Free Cold Chain Delivery Logistics Farm-Sourced Ready-to-Eat Frozen Items
Slide 11: HoReca partners
HoReca partners supporting over 300 restaurants and partners
Slide 12: Revenue split by product
Revenue Split Product wise Revenue for H1FY26 Chicken Mutton fish & Seafood 56% 23% 21%
Slide 13: Business process: full stack approach
Zappfresh BUSINESS PROCESS Uniquely Disrupting the Traditional Meat Supply Chain with a Full Stack Approach Consistently Delivering High Quality Meat Products SOURCING 1 LEVEL PROCESSING > > 2 LEVEL PROCESSING 3 ——_———_* LAST MILE DELIVERY Direct Farmer . . ; _ Consistent Quality * * Ffficient Opera
Slide 14: Halal certified, freshness guaranteed, chemical free
@s) HALAL CERTIFIED Meat Prepared through through the best practices ors WT FRESHNESS GUARANTEED Same-Day Delivery through a unique cold chain supply CHEMICAL FREE Meat, as nature intended to be Fresh Delivered within 24 hours of slaughter. 90 Minute Express Delivery ZERO PRESERVATIVES 100% Healthy
Slide 15: H1FY26 infrastructure and revenue mix
H1FY26 13% 10% 15% 22% 41% Registered Office cold storage Store Corporate Office processing centre distribution centre
Slide 16: Competitive advantage versus traditional meat shops
COMPETITIVE ADVANTAGE Zappresh 7 : TRADITIONAL OTHER CONSUMER PARAMETER Zappfresh MEAT SHOPS COMPANIES oie Sourcing Direct from Farms Middlemen/Unknown Groduct Range (Fresh peas wet Cuts) Eimited Full Cold Chain None Certified Standards Poorbiygiens + and lack of trust Direct + Middlemen Lass] Limit
Slide 17: Journey: at inception to current
at Inception 2024 2025 Current
Slide 18: Business strategies: Zappfresh stores
Zappfresh BUSINESS STRATEGIES Zappfresh Offline transformation of regular meat shops into " Zappfresh stores” To tap the large unorganised meat market - for supplying premium meat with "traceable" score Zappfresh Benefits of Standardising conventional Meat Stores Standardised and . = Certified and M
Slide 19: Existing stores
Zapptresh | resi cuexe N
Slide 20: Industry momentum
Zappfresh INDUSTRY MOMENTUM ( . ; Changing Lifestyle O ' ay) India's meat market is set to expand ' ; - (@] | at a robust 8.5% CAGR-from USD [prea oub Se aereneng I pena | Millennials and Younger ! 55.3 billion in 2024 to USD 114.4 | Population Living Apart from o (& |s billion by 2033. Families pre
Slide 21: Financial performance
INvestor PResentation h1fy26 Financial performance
Slide 22: H1FY26 Highlights
H1FY26 Highlights Sustained revenue growth of 43% (YoY) along with focus on profitability improvement Strengthening of supply chain and deepening partnership with HORECA clients Increase in working capital cycle due to extended credit to key B2B clients aimed at supporting sales momentum Comfortable
Slide 23: Performance highlights
performance h1fy26 Highlights (Amounts in INR Crores) h1fy26 h1fy25 188% 68% 188% 19.18 5.18 2.44 43% H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 95.85 Gross Profit (₹ Cr.) EBITDA (₹ Cr.) PAT (₹ Cr.) H1FY25 H1FY26 490 bps 783 bps 369 bps Net Revenue (₹ Cr.) 29% 8% 4% H1FY25 H1FY26 H1FY25 H1FY26 H1FY25
Slide 24: Performance highlights: ratios and working capital
performance h1fy26 Highlights h1fy26 h1fy25 0.65 0.63 23% 21% FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 Debt to Equity Net Debt to Equity ROCE % ROE % 43 31 21 10 FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 FY25 H1FY26 Receivable Days Inventory Days Payable Days Working Capital Cycle Receivable Days =
Slide 25: Half yearly income statement
half yearly income statement (Amounts in INR Crores) h1fy26 h1fy25 h1fy25 h1fy26 Growth 66.92 95.85 43% 47.74 63.68 33% 19.18 32.17 68% 29% 34% 490 bps 5.18 14.92 188% 8% 16% 783 bps 4.57 14.09 208% 7% 15% 787 bps 0.23 0.34 48% 2.44 7.03 188% 4% 7% 369 bps
Slide 26: Half yearly balance sheet
half yearly balance sheet Equities and liabilities (Amounts in INR Crores) Assets (Amounts in INR Crores) Mar 25 Sep 25 mar 25 sep 25 4.86 16.38 1.57 39.65 0.02 56.03 1.65 1.01 22.91 31.25 0.35 40.35 23.26 8.25 22.59 37.42 0.11 2.40 1.26 0.37 1.69 17.89 1.74 66.33 27.40 106.68 106.68
Slide 27: Half yearly cash flow
half yearly cash flow h1fy26 (Amounts in INR Crores) fy25 h1fy26 -9.79 -15.18 -9.79 -10.46 0.21 22.20 11.04 -3.43 1.46
Slide 28: Way forward
Way forward Deepen our leadership in fresh and packaged meat across existing and new cities. Enhance profitability through automation, process integration, and higher in-house processing Expand our omnichannel presence combining online convenience with offline reach.
Slide 29: Historical financial statements
INvestor PResentation h1fy26 Historical Financial statements
Slide 30: Historical profit and loss statement
historical profit and loss statement (Amounts in INR Crores) h1fy26 95.85 63.68 32.17 34% 14.92 16% 14.09 15% 0.34 7.03 7%
Slide 31: Historical balance sheet
historical balance sheet H1FY26 H1FY26 4.85 16.38 1.56 39.64 0.02 56.02 1.64 1.00 22.90 31.24 0.35 40.35 23.26 8.25 22.59 37.42 0.11 2.39 1.25 0.36 1.69 17.89 1.73 66.33 27.39 106.68 106.68
Slide 32: Historical cash flow
historical CasH FLow h1fy26 -2.42 -15.18 -9.79 -10.46 0.21 22.20 11.04 -3.43 1.46
Slide 33: Appendix
INvestor PResentation h1fy26 Appendix
Slide 34: Global meat market
Global Meat Market The meat market size is expected to see strong growth in the next few years. It will grow to $1763.69 billion in 2029 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to health and wellness trends, plant-based and alternative pro
Slide 35: Indian meat market
Indian Meat Market India’s meat market is set to expand at a robust 8.5% CAGR—from USD 55.3 billion in 2024 to USD 114.4 billion by 2033. Currently, 90% of the meat market is dominated by the unorganized sector. Packaged meat demand is surging, up ~25% year-over-year. Tier-II cities now account for
Slide 36: Press & media coverage
PRESS & MEDIA COVERAGE businessline. CINDIAN EXPRESS moneycontrol ©} SMEFUTURES Inc& Zappfresh Business Standard Zappfresh ensures supply of high-quality meat, bypassing butcher shops Customers items, inclu seafood, &) cooked items e of over 50 mutton, turkey, and pre- Nirmalya Behera Last Updated :
Slide 37: Awards and recognition
Super Digital Emerging Company Digital Visionary Thank You Native Award of the Year Excellence – Delhi Edition Appreciation Plaque
Slide 38: CSR: Zappfresh x Heifer, empowering women farmers
Zappfresh CSR - ZAPPFRESH X HEIFER: EMPOWERING WOMEN FARMERS 1. CSR Partnership: Driving inclusive & sustainable livelihoods for women farmers below the poverty line. 2. Direct Procurement: Zappfresh to source 1000 kg poultry directly from women farmers fair pricing, stable income. 3. Empowerment In
Slide 39: Thank You
INvestor PResentation PResentation h1fy26 DSM Fresh foods limited Thank You Investor relations Harsh Agarwal 9987159006, harsh.agarwal@zappfresh.com