DSM Fresh Foods Ltd
Incorporated in May 2015, DSM Fresh Foods Limited is engaged in the business of fresh meat and ready-to-cook/eat non-veg products retailer[1]
- Market Cap ₹ 114 Cr.
- Current Price ₹ 51.3
- High / Low ₹ 208 / 44.2
- Stock P/E 7.84
- Book Value ₹ 52.2
- Dividend Yield 0.00 %
- ROCE 23.3 %
- ROE 17.6 %
- Face Value ₹ 10.0
Pros
- Stock is trading at 0.98 times its book value
- Company has delivered good profit growth of 25.6% CAGR over last 5 years
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding is low: 28.7%
- Contingent liabilities of Rs.124 Cr.
- Debtor days have increased from 53.3 to 92.0 days.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Half Yearly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 50 | 56 | 56 | 90 | 131 | 221 | |
| Sales growth | +13% | -0% | +61% | +45% | +69% | |
| 62 | 58 | 53 | 81 | 114 | 190 | |
| Operating Profit | -12 | -2 | 4 | 9 | 16 | 31 |
| OPM % | -25% | -3.5% | 7% | 10% | 12% | 14% |
| 0 | -1 | -0 | 0 | 1 | 1 | |
| Interest | 0 | 0 | 0 | 1 | 4 | 7 |
| Depreciation | 1 | 0 | 0 | 1 | 2 | 2 |
| Profit before tax | -13 | -3 | 3 | 8 | 12 | 23 |
| Tax % | 0% | -20% | 2% | 39% | 22% | 38% |
| -13 | -2 | 3 | 5 | 9 | 14 | |
| EPS in Rs | -12.74 | -2.44 | 2.69 | 4.32 | 5.51 | 6.45 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 35% |
| 3 Years: | 58% |
| TTM: | 69% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 26% |
| 3 Years: | 64% |
| TTM: | 61% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | -71% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 18% |
| Last Year: | 18% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 0.01 | 0.01 | 16 | 22 |
| Reserves | 2 | 12 | 16 | 38 | 33 | 94 |
| 0 | 1 | 2 | 8 | 32 | 64 | |
| 7 | 9 | 3 | 4 | 3 | 14 | |
| Total Liabilities | 9 | 21 | 22 | 50 | 84 | 195 |
| 2 | 1 | 1 | 5 | 7 | 9 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 19 |
| 8 | 20 | 21 | 45 | 77 | 166 | |
| Total Assets | 9 | 21 | 22 | 50 | 84 | 195 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| -7 | -2 | -2 | -13 | -22 | -48 | |
| 3 | -0 | -1 | -5 | -4 | -23 | |
| 0 | 2 | 3 | 22 | 22 | 79 | |
| Net Cash Flow | -4 | 0 | -0 | 4 | -3 | 8 |
| Free Cash Flow | -7 | -2 | -3 | -18 | -26 | -52 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 55% | 116% | -66% | -139% | -131% | -138% |
Ratios
Standalone / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 42 | 53 | 29 | 21 | 47 | 92 |
| Inventory Days | 0 | 0 | 0 | |||
| Days Payable | 59 | 65 | 24 | |||
| Cash Conversion Cycle | -17 | -12 | 5 | 21 | 47 | 92 |
| Working Capital Days | 1 | 1 | 35 | 50 | 54 | 87 |
| ROCE % | -28% | 24% | 27% | 25% | 23% |
Insights
In beta| Mar 2025 | Mar 2026 | |
|---|---|---|
| B2C Revenue Share % |
|
|
| Chicken Revenue Share % |
||
| Fish & Seafood Revenue Share % |
||
| Mutton Revenue Share % |
||
| Number of Channel Partner Retail Stores count |
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| Number of Farmer Partnerships (Seafood) count |
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| Number of HoReCa Partner Restaurants count |
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Extracted by Screener AI
Documents
Announcements
-
Statement On Deviation Or Variation Of Funds Under Regulation 32 Of SEBI (LODR) Regulations, 2015 ('SEBI Listing Regulations)
- DSM Fresh Foods reported IPO fund deviations for quarter ended September 30, 2026; raised ₹59.06 crore via IPO.
-
Announcement under Regulation 30 (LODR)-Monitoring Agency Report
- CARE report on Sep 30, 2026 IPO proceeds flags excess utilisation and marketing deviations.
- Un-Audited Financial Results Of The Company For The Half Year Ended On September 30, 2026
-
Board Meeting Outcome for Outcome Of The Board Meeting Held Today I.E. November 14, 2026
- Board approved H1 FY27 standalone and consolidated results; auditors issued unmodified review, IPO fund utilisation noted.
-
Update on board meeting
- Board meeting rescheduled to November 14, 2026 for H1 FY26 unaudited results approval.
Annual reports
-
Annual Report 2026
from bse
Concalls
-
Jun 2026Transcript PPT
-
Mar 2026PPT
-
Nov 2025Transcript PPT
Business Profile[1]
DSM Fresh Foods Limited (operating under the brand Zappfresh) is a technology-enabled fresh foods platform specializing in the sourcing, processing, and delivery of high-quality meat and food products. Headquartered in New Delhi, the company services both retail consumers and institutional customers, focusing on quality, traceability, and operational excellence across the food value chain.