Sawaliya Food ProductsShare price, financial results, shareholding and management
- Market cap
- ₹177 cr
- Stock P/E
- 22.1peers 11.9
- Book value
- ₹49.5
- Price to book
- 3.60
- EV / operating profit
- 15.3
- Market cap to sales
- 4.27
- ROCE · FY26
- 25.0%
- ROE · FY26
- 25.9%
- ROE, 3-year average
- 59.0%
- Operating margin · FY26
- 29.4%peers 9.2%
- Sales growth, 3 years
- 39.9%
- Profit growth, 3 years
- 138.5%
- Debt to equity
- 0.31peers 0.13
- Borrowings
- ₹15.1 cr
- Interest cover
- 7.3×
- Cash from business / op. profit
- 1%
- Debtor days
- 229
- Pledged
- 0.00%
- Promoter holding
- 67.78%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 360
- 52-week high / low
- ₹351 / ₹138
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Sawaliya Food Products share price chart
Close on 6 Nov 2026 · -0.78% on the day · Vol 40,200
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -5.5%
- 3 months
- -38.3%
- 6 months
- -37.5%
- 1 year
- -20.9%
- Since IPO
- +48.4%
- Traded a day, 20 days
- ₹1.17 cr
- Taken for delivery
- 62%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +21% | +15% |
| 3 years, a year | +40% | +139% |
About Sawaliya Food Products: business, products and customers
Sawaliya Food Products dries carrots, cabbage and beans into small flakes that big food companies put into instant noodles, soups and pasta. Its shares trade on NSE Emerge.
Sawaliya Food Products was formed in 2014 and runs one plant in Dhar district, Madhya Pradesh. It washes, cuts, cooks and dries fresh carrots, cabbage and French beans into dehydrated flakes and cubes, graded A for food makers and B for pet food. It also sells washed carrots, wheat powder and other goods it purchases and resells.
Most sales go to food makers that use the flakes as an ingredient: the offer document says one leading FMCG manufacturer headquartered in West Bengal gives the majority of revenue under agreements of ten to twelve months, and that ITC and Silva International together took about nine tenths of FY23 sales. Since then it has added traders and wholesalers, and a small share goes to a buyer in the USA.
Read more about the business
The business model shapes the numbers. Carrots are bought from nearby farmers at harvest, when they are cheap, and kept in its own cold storage so the plant can run through the year; this keeps raw material costs low but ties up a lot of money in stock. Sales of washed carrots and resold goods earn less than dried flakes, so the mix moves margins.
The offer document does not name rivals. It describes a fragmented field of small unorganised processors and some larger players, where quality, price and range decide who wins orders.
From the offer document (prospectus, 2025) and the annual report for 2024-25.
Read the deeper study ↓In its favour
- Sales have grown fast: 40% a year over three years.
- It earns a high return on the money it uses: ROCE 25% in FY26.
- The promoters own a large part of the company: 67.78%.
To watch
- Installation of the new machinery and solar system paid for from the IPO (Offer document, p.96).
- Renewal of the yearly agreement with the main FMCG customer (Offer document, p.29).
- Money owed by customers, which rose sharply in FY25 (Annual report 2024-25, p.42).
- Launch of dried papaya, beetroot and pumpkin after the planned equipment upgrade (Offer document, p.148).
- Customers take longer to pay than before: 229 days in FY26, against 40 in FY20.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Sawaliya Food Products revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months.
Sawaliya Food Products half-yearly results
SME companies report every six months · ₹ crore
| H1FY26 | H2FY26 | |
|---|---|---|
| Sales | 19.90 | 21.40 |
| Expenses | 12.93 | 14.23 |
| Operating profit | 6.98 | 7.18 |
| OPM | 35.0% | 33.5% |
| Interest | 1.08 | 0.61 |
| Depreciation | 0.25 | 0.24 |
| Profit before tax | 5.67 | 7.04 |
| Net profit | 4.23 | 5.28 |
Sawaliya Food Products profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 5.29 | 10.82 | 13.56 | 15.09 | 23.40 | 34.18 | 41.31 |
| Expenses | 4.90 | 9.99 | 12.04 | 13.40 | 17.28 | 21.94 | 29.15 |
| Operating profit | 0.39 | 0.83 | 1.52 | 1.69 | 6.12 | 12.24 | 12.16 |
| OPM | 7.4% | 7.7% | 11.2% | 11.2% | 26.1% | 35.8% | 29.4% |
| Other income | 0.28 | -0.06 | 0.08 | 0.21 | 0.27 | 0.13 | 0.73 |
| Interest | 0.39 | 0.38 | 0.55 | 0.82 | 1.41 | 2.58 | 1.69 |
| Depreciation | 0.20 | 0.31 | 0.35 | 0.36 | 0.55 | 0.46 | 0.48 |
| Profit before tax | 0.08 | 0.08 | 0.70 | 0.72 | 4.43 | 9.33 | 10.72 |
| Tax rate | 12.5% | 412.5% | -4.3% | 18.1% | 29.6% | 25.5% | 25.4% |
| Net profit | 0.08 | -0.25 | 0.73 | 0.59 | 3.12 | 6.95 | 8 |
| EPS ₹ | 6.47 | -20.21 | 59.01 | 47.70 | 252.22 | 9.50 | 8.94 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
A tax rate above 60% or below zero (FY21, FY22) comes from tax charged on a small or negative profit, as reported.
Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Sawaliya Food Products profitability
Margins and returns on capitalLast year the company kept less from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.4% | 7.7% | 11.2% | 11.2% | 26.1% | 35.8% | 29.4% |
| Tax rate | 12.5% | 412.5% | -4.3% | 18.1% | 29.6% | 25.5% | 25.4% |
| ROCE | · | 6.4% | 14.8% | 12.3% | 33.8% | 44.3% | 25.0% |
| ROE | · | -20.4% | 44.9% | 25.8% | 75.4% | 75.7% | 25.9% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Sawaliya Food Products debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It cut its borrowings last year. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Sawaliya Food Products balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 7.32 | 9.92 |
| Reserves | 1.07 | 1.14 | 1.87 | 2.46 | 5.58 | 5.33 | 39.17 |
| Net worth | 1.19 | 1.26 | 1.99 | 2.58 | 5.70 | 12.65 | 49.09 |
| Borrowings | 5.26 | 6.65 | 7.04 | 13.36 | 12.93 | 22.49 | 15.14 |
| Other liabilities | 1.01 | 1.18 | 1.46 | 4.10 | 6.77 | 11.11 | 13.46 |
| Total liabilities | 7.46 | 9.09 | 10.49 | 20.04 | 25.40 | 46.25 | 77.69 |
| Fixed assets | 3.07 | 4.50 | 4.80 | 4.02 | 6.54 | 7.79 | 7.70 |
| Capital work in progress | 0 | 0 | 0 | 3.99 | 0 | 0.42 | 0.42 |
| Investments | 0.12 | 0.20 | 0.09 | 0.27 | 0.03 | 0.03 | 0 |
| Other assets | 4.27 | 4.39 | 5.60 | 11.76 | 18.83 | 38.01 | 69.57 |
| Receivables | · | · | · | · | · | · | 25.89 |
| Inventory | · | · | · | · | · | · | 15.67 |
| Cash | · | · | · | · | · | · | 5.23 |
| Trade payables | · | · | · | · | · | · | 6.46 |
Sawaliya Food Products cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | · | · | 0.94 | 0.08 | 0.79 | -4.31 | 0.12 |
| Cash from investing | · | · | -1.06 | -5.60 | 1.81 | -3.43 | -15.70 |
| Cash from financing | · | · | -0.05 | 5.58 | -1.84 | 6.98 | 20.66 |
| Net cash flow | · | · | -0.17 | 0.06 | 0.76 | -0.76 | 5.08 |
| Capital spending | · | · | · | · | · | · | 4.84 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 40 | 55 | 56 | 14 | 44 | 179 | 229 |
| Inventory days | 379 | 126 | 135 | 377 | 380 | 370 | 217 |
| Days payable | 69 | 41 | 50 | 148 | 141 | 147 | 89 |
| Cash conversion cycle | 350 | 140 | 140 | 244 | 283 | 402 | 356 |
| Working capital days | 240 | 118 | 20 | 50 | 63 | 163 | 404 |
Sawaliya Food Products peers and competitors
Listed SME companies in the same industryBy sales, Sawaliya Food Products is number 27 of the 37 listed SME companies in agricultural food & other products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Unisem Agritech | 53 | 10.0 | 70.1 | 5.3 | 14.9% | 0.51 |
| Harshdeep Hortico | 155 | 11.9 | 69 | 13 | 29.0% | 0.07 |
| Prospect Consumer Products | 22 | 9.1 | 57.5 | 2.5 | 11.0% | 0.38 |
| NFP Sampoorna Foods | 25 | 5.6 | 51.1 | 4.5 | 18.1% | 1.73 |
| Sawaliya Food Products | 177 | 22.1 | 41.3 | 8 | 29.4% | 0.31 |
| Dhanlaxmi Crop Science | 42 | - | 38.1 | -0.5 | 2.7% | 0.23 |
| Neopolitan Pizza And Foods | 12 | 61.2 | 29.5 | 0.2 | 1.7% | 0.02 |
| Kck Industries | 97 | 229.0 | 29.5 | 0.4 | 0.1% | 0.08 |
| Indong Tea Company | 12 | - | 23 | -0.8 | 7.3% | 0.17 |
| Times Green Energy (India) | 47 | 211.6 | 22 | 0.2 | 3.4% | 0.02 |
| City Crops Agro | 91 | - | 19.5 | -3.9 | 64.0% | 0.00 |
| Median of the 10 others | 45 | 11.9 | 33.8 | 0.3 | 9.2% | 0.13 |
Sawaliya Food Products shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has come down.
Sawaliya Food Products shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Aug 25 | Sep 25 | Mar 26 | |
|---|---|---|---|
| Promoters | 67.78% | 67.78% | 67.78% |
| Foreign investors (FIIs) | 10.01% | 9.49% | 5.29% |
| Indian institutions (DIIs) | 3.81% | - | 0.15% |
| HNIs (over ₹2 lakh each) | 2.95% | 5.61% | 5.85% |
| Small holders (up to ₹2 lakh) | 11.60% | 3.91% | 5.94% |
| Companies and others | 3.85% | 13.21% | 14.99% |
| Number of shareholders | 540 | 218 | 360 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Sawaliya Food Products study: the business from its own documents
Read from 2 of the company's own documentsSawaliya Food Products so far
From the company's own record
- 14 Aug 2025Listed on NSE Emerge at ₹120
- 31 Aug 2026An order announced
- 31 March 2026Promoters at 67.78%
- 10 March 2026Highest close since listing, ₹338.10
Sawaliya Food Products key facts from the filings
Each figure with the document it comes from
- Plant capacity used
- 88%
- It made 1,325 tonnes against capacity of 1,500 tonnes in FY25; dried carrot A grade ran at 97%.Offer document, p.154
- Top ten customers
- 86.5%
- Their share of FY25 revenue; the largest single customer took 20.7%.Offer document, p.141
- Sales to food makers
- 66.2%
- Share of FY25 revenue from institutional food manufacturers; traders took 31.2% and exports 2.6%.Offer document, p.139
- Customers
- 91
- Number of customers in FY25, up from 12 in FY23 after it began selling washed carrots to traders and wholesalers.Offer document, p.97
- Days of stock
- 164 days
- Inventory days in FY25, because vegetables are bought at harvest and stored for the rest of the year.Offer document, p.97
Show 5 more facts
- Money owed by customers
- ₹16.7 cr
- Trade receivables at March 2025, up from ₹2.8 cr a year earlier, against FY25 revenue of ₹34.2 cr.Annual report 2024-25, p.42
- Largest supplier
- 34.4%
- Share of FY25 purchases from one supplier; the top ten supplied 73.1%.Offer document, p.142
- IPO raised
- ₹31.2 cr
- Fresh money from 26,02,800 new shares at ₹120 each; promoters also sold 3,00,000 shares. Listed on 14 August 2025.Annual report 2024-25, p.15; our arithmetic
- Machinery and solar
- ₹7.5 cr
- IPO money set aside for new and upgraded machinery on both lines and a rooftop solar system at the plant.Offer document, p.96
- Staff
- 25
- Employees on the rolls at June 2025, nine of them in production.Offer document, p.154
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The offer document planned to spend the IPO money on new and upgraded machinery and a rooftop solar system in FY26, working capital across FY26 and FY27, and repaying some loans. It also says the company ran trials of dried papaya, beetroot and pumpkin on customer orders and is planning an equipment upgrade before making them regularly, and that it wants to export to Europe.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
The company earns its money by purchasing vegetables cheaply at harvest, drying them and selling the flakes to large food makers.
Its weak spots are that one big customer purchases most of what it makes, the plant is nearly full, and a lot of money sits in stock and unpaid bills.
WatchCan it set its own prices?It sells an ingredient to much larger food companies and says it prices below rivals. Its edge is a low purchasing cost, not the power to raise prices.
AverageHow strong is it against rivals?It works in a crowded field of small processors. Being close to carrot farms and having its own cold storage keeps its costs down.
WatchWho are its customers?A handful of buyers take nearly all sales, and one large food maker takes the majority.
WatchDoes it need a lot of money?Yes. It stores a year's worth of vegetables and waits a long time to be paid, so much of its money sits in stock and bills.
AverageCan it keep finding new work?It has widened its customer list by selling to traders and is testing new dried products, but the main food maker still drives most sales.
WatchDo good and bad years swing a lot?Supply depends on the harvest, and a poor season can cut production. Margins have moved a lot from year to year.
Who runs Sawaliya Food Products?
Promoters, directors and officers; tap a name for the background
RSRaghav SomaniPromoter, Chairman and Managing Director · holds 29.47%
Director since incorporation in 2014 and Managing Director for five years from 22 July 2024. Bachelor of Engineering from Visvesvaraya Technological University, Belgaum, with almost a decade in business development, production and processing of dried vegetables. Heads marketing, production and business development.
Offer document, p.173 and p.175PSPriya SomaniPromoter and Whole-time Director · holds 29.47%
Joined as a quality executive in May 2020 and became Whole-time Director from 22 July 2024. Bachelor of Commerce from the University of Rajasthan and an MBA from Jayoti Vidyapeeth Women's University; heads food safety and quality. The offer document states that Priya Somani is the spouse of Raghav Somani.
Offer document, p.173, p.175 and p.176KKKartavya Kumar ChitlangyaNon-Executive Director
Director since 22 July 2024. Commerce degree from Devi Ahilya Vishwavidyalaya and an MBA; an independent agent with Max Life Insurance and sole proprietor of Perfect Financial Services, a loan processing business.
Offer document, p.174 and p.175RGRavikant GuptaIndependent Director
Independent Director from 22 July 2024 to July 2029. Commerce and economics degrees from Devi Ahilya Vishwavidyalaya, with more than nineteen years in business development in insurance broking and related firms.
Offer document, p.174 and p.175PNPankaj NeemaChief Financial Officer
Joined as senior accountant in November 2023 and became Chief Financial Officer from 22 July 2024. Commerce degree from Devi Ahilya Vishwavidyalaya, earlier head of accounts and taxation at Hindustan Equipments, with over fourteen years in accounts and finance.
Offer document, p.184Sawaliya Food Products latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- Shareholding, 31 March 2026: promoters unchanged at 67.78%.
- 31 Aug 2026: an order announced.
Sawaliya Food Products announcements
8 on record, latest first; each opens the filing on the exchange
- Price movementSignificant movement in price has been observed in Sawaliya Food Products Limited. The Exchange, in order to ensure that investors have latest relevant informatPDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018For Quarter ended June 30, 2026PDF ↗
- Disclosure under SEBI Takeover Regulationsof Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011PDF ↗
- AppointmentOf Mrs. Shraddha Soni as Other of the company w.e.f. April 01, 2025PDF ↗
- Structural Digital DatabaseSDD Compliance Certificate for the Financial Year ended on March 31, 2026 [Pursuant to Securities and Exchange Board of India (Prohibition of Insider Trading) RPDF ↗
- Utilisation of FundsUtilisation of FundsPDF ↗
- Statement of deviation(s) or variation(s) under Reg. 32statement of deviation(s) or variation(s) under Reg. 32PDF ↗
- Outcome of Board Meeting, the financial results for the half year and year ended March 31, 2026PDF ↗
Sawaliya Food Products annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- FY25 ↗read
Sawaliya Food Products share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Sawaliya Food Products' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (99,18,220 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY24 (₹252.22) and FY25 (₹9.50) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Sawaliya Food Products
What does Sawaliya Food Products do?
Sawaliya Food Products dries carrots, cabbage and beans into small flakes that big food companies put into instant noodles, soups and pasta. Its shares trade on NSE Emerge.
What is the share price of Sawaliya Food Products?
₹178 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Sawaliya Food Products?
₹177 cr at the close on 6 Nov 2026, on 99,18,220 shares.
What is the P/E of Sawaliya Food Products?
22.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Sawaliya Food Products' revenue and profit?
Revenue ₹41 cr and profit after tax ₹8 cr in FY26.
Who are the promoters of Sawaliya Food Products?
Raghav Somani, Priya Somani; promoters held 67.78% at 31 March 2026.
What was the IPO price of Sawaliya Food Products?
₹120 a share; it listed on 14 Aug 2025.
What is Sawaliya Food Products' website?
www.sawaliyafood.com
More SME companies like Sawaliya Food Products
Other listed SME companies in agricultural food & other products, the closest in size first, each read from its own documents.
- Bharatrohan Airborne InnovationsBHARATROHAN · BSE SME · Agricultural Food & other ProductsMarket cap ₹177 cr
- Ramdevbaba SolventRBS · NSE Emerge · Agricultural Food & other Products · listed 2024Market cap ₹199 cr
- Harshdeep HorticoHARSHDEEP · BSE SME · Agricultural Food & other ProductsMarket cap ₹153 cr
- Aelea CommoditiesACLD · BSE SME · Agricultural Food & other ProductsMarket cap ₹222 cr
- TBI CornTBI · NSE Emerge · Agricultural Food & other Products · listed 2024Market cap ₹128 cr
- City Crops AgroCCAL · BSE SME · Agricultural Food & other ProductsMarket cap ₹120 cr
Every listed SME company in Agricultural Food & other Products → · SME companies listed in 2025 →
Built from 1 offer document, 1 annual report, 8 exchange announcements, 3 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.