Shah Foods Share Price & Earnings Call Analysis
- Market cap
- ₹758 Cr
- P/E
- 230.28
- ROE
- 1.86%
- Price to sales
- 190.35
- Debt to equity
- 0.33
- 52W high / low
- ₹439 / ₹97.6
- EBITDA margin
- -6.03%
- Net profit margin
- 82.66%
- Promoter holding
- 69.39%
- Sales (last year)
- ₹4 Cr
Incorporated in 1982, Shah Foods Ltd is in the business of trading in food products,vegetables, etc.[1]
Potential multibaggers · Q2 FY27
Potential multibaggers in Food Products
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Food Products companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹23,562 Cr | 134.3 | |
| 2 | 40%+ | Up 2%+ | ₹435 Cr | 7.5 | |
| 3 | 40%+ | Up 2%+ | ₹413 Cr | 72.6 | |
| 4 | 40%+ | Flat | ₹1,012 Cr | 46.0 | |
| 5 | 40%+ | Flat | ₹148 Cr | 9.8 | |
| 6 | 20–40% | Up 2%+ | ₹670 Cr | 48.3 |
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Pro shows every company guiding 40%+ revenue growth →Full Food Products rankingShah Foods announcements
All announcements →- Fundraise / allotmentNotableShah Foods Limited board approves warrant issue and director resignation
Financials of Shah Foods
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Shah Foods
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.08 | 0.89 | 0.52 | 2.30 | 0.00 | 0.00 | 0.00 |
| Expenses + | 0.07 | 0.07 | 0.03 | 0.07 | 0.02 | 0.09 | 0.15 | 0.86 | 0.54 | 2.13 | 0.05 | 0.01 | 0.05 |
| Operating Profit | -0.07 | -0.07 | -0.03 | -0.07 | -0.02 | -0.09 | -0.07 | 0.03 | -0.02 | 0.17 | -0.05 | -0.01 | -0.05 |
| OPM % | -87.50% | 3.37% | -3.85% | 7.39% | |||||||||
| Other Income + | 0.00 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Interest | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | -0.07 | -0.01 | -0.03 | -0.07 | -0.02 | -0.09 | -0.07 | 0.03 | -0.02 | 0.17 | -0.05 | -0.01 | -0.05 |
| Tax % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Net Profit + | -0.07 | -0.01 | -0.03 | -0.07 | -0.02 | -0.09 | -0.07 | 0.03 | -0.02 | 0.17 | -0.05 | -0.01 | -0.05 |
| EPS in Rs | -1.17 | -0.17 | -0.50 | -1.17 | -0.33 | -1.51 | -1.17 | 0.50 | -0.33 | 2.85 | -0.84 | -0.17 | -0.84 |
Financials of Shah Foods
Profit & Loss
Annual income statement trend
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 3.73 | 4.71 | 5.06 | 5.40 | 5.39 | 5.51 | 1.02 | 0.09 | 0.00 | 0.00 | 0.00 | 3.78 | 2.30 |
| Expenses + | 3.62 | 4.44 | 4.68 | 4.61 | 5.15 | 5.37 | 2.62 | 0.56 | 0.26 | 0.27 | 0.22 | 3.67 | 2.24 |
| Operating Profit | 0.11 | 0.27 | 0.38 | 0.79 | 0.24 | 0.14 | -1.60 | -0.47 | -0.26 | -0.27 | -0.22 | 0.11 | 0.06 |
| OPM % | 2.95% | 5.73% | 7.51% | 14.63% | 4.45% | 2.54% | -156.86% | -522.22% | 2.91% | 2.61% | |||
| Other Income + | 0.05 | 0.04 | 0.06 | 0.07 | 0.07 | 0.19 | -0.07 | -0.05 | -0.01 | 0.06 | 0.00 | 0.00 | 0.00 |
| Interest | 0.02 | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.00 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Depreciation | 0.08 | 0.09 | 0.12 | 0.15 | 0.14 | 0.16 | 0.09 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 0.06 | 0.19 | 0.30 | 0.70 | 0.16 | 0.16 | -1.76 | -0.56 | -0.27 | -0.21 | -0.22 | 0.11 | 0.06 |
| Tax % | 33.33% | 31.58% | 30.00% | 28.57% | 25.00% | 25.00% | -1.70% | 1.79% | 0.00% | 0.00% | 0.00% | 0.00% | |
| Net Profit + | 0.04 | 0.13 | 0.21 | 0.51 | 0.12 | 0.12 | -1.72 | -0.55 | -0.27 | -0.21 | -0.22 | 0.11 | 0.06 |
| EPS in Rs | 0.67 | 2.18 | 3.51 | 8.54 | 2.01 | 2.01 | -28.79 | -9.21 | -4.52 | -3.51 | -3.68 | 1.84 | 1.00 |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 11.76% | 50.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Financials of Shah Foods
Balance Sheet
Capital structure and asset base
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 | 0.60 |
| Reserves | 0.71 | 0.85 | 1.05 | 1.61 | 1.66 | 1.71 | -0.02 | -0.57 | -0.84 | -1.05 | -1.27 | -1.16 | -1.22 |
| Borrowings + | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.80 | 0.85 | 0.86 | 0.86 | 1.05 | 1.27 | 0.00 |
| Other Liabilities + | 0.50 | 0.47 | 0.58 | 0.45 | 0.57 | 0.57 | 0.23 | 0.27 | 0.19 | 0.19 | 0.14 | 2.17 | 2.81 |
| Total Liabilities | 1.81 | 1.92 | 2.23 | 2.66 | 2.83 | 2.88 | 1.61 | 1.15 | 0.81 | 0.60 | 0.52 | 2.88 | 2.19 |
| Fixed Assets + | 0.62 | 0.88 | 1.10 | 1.05 | 1.04 | 0.96 | 0.11 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| CWIP | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other Assets + | 1.19 | 1.04 | 1.13 | 1.61 | 1.79 | 1.92 | 1.50 | 1.14 | 0.81 | 0.60 | 0.52 | 2.88 | 2.19 |
| Total Assets | 1.81 | 1.92 | 2.23 | 2.66 | 2.83 | 2.88 | 1.61 | 1.15 | 0.81 | 0.60 | 0.52 | 2.88 | 2.19 |
Financials of Shah Foods
Cash Flows
Operating, investing and financing cash movement
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 0.39 | 0.30 | 0.52 | -0.09 | 0.66 | -0.06 | -1.30 | -0.38 | -0.27 | -0.22 | -0.22 | -0.18 |
| Cash from Investing Activity + | -0.16 | -0.31 | -0.28 | -0.04 | -0.06 | -0.16 | 0.05 | 0.21 | 0.46 | 0.00 | 0.00 | 0.00 |
| Cash from Financing Activity + | -0.03 | -0.03 | -0.02 | -0.03 | -0.08 | -0.08 | 0.80 | 0.04 | 0.01 | 0.00 | 0.19 | 0.22 |
| Net Cash Flow | 0.20 | -0.03 | 0.22 | -0.16 | 0.52 | -0.30 | -0.45 | -0.13 | 0.20 | -0.21 | -0.03 | 0.04 |
| Free Cash Flow | 0.17 | -0.07 | 0.18 | -0.19 | 0.54 | -0.15 | -1.29 | -0.36 | 0.19 | -0.22 | -0.22 | -0.18 |
| CFO/OP | 355% | 111% | 137% | 13% | 296% | -7% | 81% | 81% | 104% | 81% | 100% | -164% |
Financials of Shah Foods
Ratios
Working capital efficiency and return ratios
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0.00 | 0.00 | 0.00 | 0.00 | 13.54 | 15.24 | 17.89 | 0.00 | 223.06 | |||
| Inventory Days | 0.00 | |||||||||||
| Days Payable | ||||||||||||
| Cash Conversion Cycle | 0.00 | 0.00 | 0.00 | 0.00 | 13.54 | 15.24 | 17.89 | 0.00 | 223.06 | |||
| Working Capital Days | 0.00 | -9.30 | -12.98 | 50.02 | 18.28 | 36.43 | 325.64 | 3,406.67 | 64.70 | |||
| ROCE % | 6.20% | 17.39% | 20.65% | 36.79% | 7.61% | 7.44% | -92.14% | -43.36% | -34.67% | -40.78% | -55.70% | 20.18% |
Momentum score · price trend
41 out of 100 — Steady
Over the past year its share price has moved roughly in the middle of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +205.2% | 98% |
| Last 6 months | +101.5% | 97% |
| Last 3 months | −19.3% | 21% |
The price is 22.8% below its all-time high of ₹422.95 (3 Sept 2026). Stocks more than 20% below their peak have their score halved, so 82 became 41.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Shah Foods: 0.4 × 98 + 0.4 × 97 + 0.2 × 21 = 82, halved to 41 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
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