Shivashrit FoodsShare price, financial results, shareholding and management
- Market cap
- ₹215 cr
- Stock P/E
- 15.3peers 14.5
- Book value
- ₹56.2
- Price to book
- 2.09
- EV / operating profit
- 9.8
- Market cap to sales
- 1.89
- ROCE · FY26
- 19.1%
- ROE · FY26
- 20.4%
- ROE, 3-year average
- 44.1%
- Operating margin · FY26
- 21.2%peers 7.5%
- Sales growth, 3 years
- 36.1%
- Profit growth, 3 years
- 91.5%
- Debt to equity
- 0.46peers 0.45
- Borrowings
- ₹47.5 cr
- Interest cover
- 4.9×
- Cash from business / op. profit
- -0%
- Debtor days
- 62
- Pledged
- 0.00%
- Promoter holding
- 73.00%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 656
- 52-week high / low
- ₹144 / ₹96
- 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.
Shivashrit Foods share price chart
Close on 6 Nov 2026 · +0.09% on the day · Vol 25,000
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
- +2.3%
- 3 months
- -8.7%
- 6 months
- -8.9%
- 1 year
- -12.4%
- Since IPO
- -17.2%
- Traded a day, 20 days
- ₹0.41 cr
- Taken for delivery
- 59%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +8% | +17% |
| 3 years, a year | +36% | +92% |
| Latest half, H2 FY26 | -3% | +9% |
About Shivashrit Foods: business, products and customers
Shivashrit Foods turns potatoes into dried potato flakes at its plant in Aligarh and sells them in bulk to snack and food makers in India and abroad. Its shares trade on NSE Emerge.
Shivashrit Foods was set up in 2017 and started making potato flakes in 2018. At its plant near Aligarh in western Uttar Pradesh, potatoes are washed, peeled, cooked, mashed, dried on heated drums and broken into flakes, which food makers use in snacks, soups, ready meals and bakery goods. The line was doubled in FY24 and the plant holds BRCGS, USFDA, ISO 22000, HALAL and FSSAI certificates.
It sells mainly to food and snack factories in India, with Uttar Pradesh, Gujarat and Maharashtra the biggest states in FY25; exports went to countries such as Israel, Belgium and Bangladesh, and the list of countries changes from year to year. Potatoes are bought mostly between December and March from traders and farmers near the plant and kept in cold storage, including a cold store run by a firm of the promoters.
Read more about the business
What is new: the company listed on NSE Emerge in September 2025 and is building a second, larger flake line next to the present plant, with machinery from Tummers of the Netherlands. In December 2024 it also started selling small retail packs online, though these sales were tiny in FY25.
From the red herring prospectus (August 2025) and the FY25 annual report.
Read the deeper study ↓In its favour
- Sales have grown fast: 36% a year over three years.
- The promoters own a large part of the company: 73.00%.
To watch
- Start of the second flake line, which the offer document scheduled for commercial operation from 1 June 2026 (Red herring prospectus, p.109).
- Spending of the issue money: ₹26.3 cr on the new line and ₹19.0 cr on its working capital across FY26 and FY27 (Red herring prospectus, p.94).
- Whether the five largest buyers, who gave 79.10% of FY25 sales without binding agreements, keep ordering as the new line adds output (Red herring prospectus, p.31).
- The ₹34.0 cr HDFC Bank loan for the new line and the stock of potatoes built up each harvest (Red herring prospectus, p.95 and p.109).
- Customers take longer to pay than before: 62 days in FY26, against 12 in FY22.
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.
Shivashrit Foods revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were lower than in the same half a year before. Profit grew faster than sales.
Shivashrit Foods half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 51 | 54 | 61.18 | 52.33 |
| Expenses | 40 | 43 | 48.06 | 41.37 |
| Operating profit | 11 | 11 | 13.12 | 10.96 |
| OPM | 22.0% | 20.0% | 21.4% | 20.9% |
| Interest | 2 | 2 | 2.42 | 2.09 |
| Depreciation | 2 | 2 | 1.74 | 2.03 |
| Profit before tax | 8 | 7 | 9.47 | 8.30 |
| Net profit | 6 | 6 | 7.51 | 6.54 |
Shivashrit Foods profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 38 | 45 | 76 | 105 | 113.51 |
| Expenses | 34 | 40 | 58 | 82 | 89.43 |
| Operating profit | 5 | 5 | 19 | 22 | 24.09 |
| OPM | 12.0% | 11.0% | 24.0% | 21.0% | 21.2% |
| Other income | 0 | 0 | 1 | 1 | 1.96 |
| Interest | 1 | 1 | 2 | 4 | 4.51 |
| Depreciation | 3 | 2 | 4 | 4 | 3.77 |
| Exceptional and other items | · | · | -1 | · | · |
| Profit before tax | 1 | 2 | 13 | 15 | 17.77 |
| Tax rate | 0.0% | 0.0% | 7.7% | 20.0% | 20.9% |
| Net profit | 1 | 2 | 12 | 12 | 14.05 |
| EPS ₹ | 1.29 | 3.27 | 24.96 | 8.61 | 8.51 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Shivashrit Foods profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 12.0% | 11.0% | 24.0% | 21.0% | 21.2% |
| Tax rate | 0.0% | 0.0% | 7.7% | 20.0% | 20.9% |
| ROCE | · | 9.7% | 31.9% | 26.6% | 19.1% |
| ROE | · | 19.0% | 70.6% | 41.4% | 20.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Shivashrit Foods debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. 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.
Shivashrit Foods balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 5 | 5 | 5 | 14 | 18.27 |
| Reserves | 5 | 6 | 18 | 21 | 84.37 |
| Net worth | 10 | 11 | 23 | 35 | 102.64 |
| Borrowings | 18 | 23 | 37 | 48 | 47.52 |
| Other liabilities | 7 | 14 | 23 | 24 | 7.38 |
| Total liabilities | 35 | 48 | 83 | 107 | 157.54 |
| Fixed assets | 9 | 9 | 21 | 17 | 15.48 |
| Capital work in progress | 0 | 0 | 0 | 0 | 20 |
| Investments | 0 | 0 | 0 | 2 | 4.51 |
| Other assets | 26 | 39 | 62 | 88 | 117.55 |
| Receivables | · | · | · | · | 19.17 |
| Inventory | · | · | · | · | 33.03 |
| Cash | · | · | · | · | 27.41 |
| Trade payables | · | · | · | · | 4.42 |
Shivashrit Foods cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 1 | 0 | 5 | -6 | -0.08 |
| Cash from investing | -1 | -2 | -18 | -1 | -22.54 |
| Cash from financing | 0 | 3 | 12 | 7 | 49.03 |
| Net cash flow | 0 | 1 | -1 | 0 | 26.41 |
| Capital spending | · | · | · | · | 3.96 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 12 | 22 | 27 | 43 | 62 |
| Inventory days | 281 | 386 | 433 | 280 | 151 |
| Days payable | 108 | 204 | 210 | 106 | 20 |
| Cash conversion cycle | 185 | 203 | 249 | 218 | 193 |
| Working capital days | 108 | 99 | 40 | 67 | 162 |
Shivashrit Foods peers and competitors
Listed SME companies in the same industryBy sales, Shivashrit Foods is number 29 of the 43 listed SME companies in food 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 |
|---|---|---|---|---|---|---|
| Sonalis Consumer Products | 17 | 1.8 | 150 | 9 | 7.0% | 0.09 |
| Shyam Dhani Industries | 109 | 12.8 | 146 | 8.5 | 11.3% | 0.52 |
| Shri Ahimsa Naturals | 961 | 33.0 | 123 | 29.1 | 29.1% | 0.11 |
| Mother Nutri Foods | 194 | 16.2 | 123 | 12 | 13.0% | 0.64 |
| SSMD Agrotech India | 53 | 8.8 | 115 | 6 | 7.0% | 0.03 |
| Shivashrit Foods | 215 | 15.3 | 114 | 14.1 | 21.2% | 0.46 |
| Abram Food | 19 | 9.5 | 112 | 2 | 3.7% | 0.61 |
| Magson Retail And Distribution | 274 | 322.5 | 109 | 0.9 | 2.4% | 0.11 |
| Tanvi Foods (India) | 83 | 41.4 | 103 | 2 | 5.0% | 0.44 |
| Italian Edibles | 40 | 9.9 | 99.5 | 4 | 8.1% | 0.79 |
| Dindigul Farm Product | 78 | 20.9 | 90 | 3.7 | 8.6% | 0.47 |
| Median of the 10 others | 81 | 14.5 | 114 | 5 | 7.5% | 0.45 |
Shivashrit Foods 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 is about the same.
Shivashrit Foods 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.
| Sep 25 | Mar 26 | |
|---|---|---|
| Promoters | 73.00% | 73.00% |
| Foreign investors (FIIs) | 5.26% | 3.97% |
| Indian institutions (DIIs) | 3.36% | 3.90% |
| HNIs (over ₹2 lakh each) | 6.86% | 5.66% |
| Small holders (up to ₹2 lakh) | 6.36% | 8.76% |
| Companies and others | 5.16% | 4.71% |
| Number of shareholders | 577 | 656 |
The named holders are at 31 March 2026, beside 30 Sept 2025, each under the group the pattern files them in.
Shivashrit Foods study: the business from its own documents
Read from 3 of the company's own documentsShivashrit Foods so far
From the company's own record
- August 2017Company formed
- 1 Sept 2025Listed on NSE Emerge at ₹142
- 31 March 2026Promoters at 73.00%
- 26 June 2026Highest close since listing, ₹130.75
Shivashrit Foods key facts from the filings
Each figure with the document it comes from
- Line capacity
- 8,640 tonnes
- Yearly flake capacity after the line was doubled in FY24; 81.24% of it was used in FY25.Red herring prospectus, p.161
- Second line
- ₹61.3 cr
- Cost of the new 2,200 kg an hour flake line next door, paid for with ₹26.3 cr of issue money, a ₹34.0 cr HDFC Bank loan and a subsidy.Red herring prospectus, p.95 and p.97
- Top five customers
- 79.10%
- Share of FY25 sales from the five largest buyers, with no binding agreements in place.Red herring prospectus, p.31 and p.32
- Exports
- 22.25%
- Share of FY25 sales sold abroad, down from 33.00% in FY24.Red herring prospectus, p.144
- Stock held
- ₹57.9 cr
- Inventories at March 2025, mostly potatoes and flakes, against FY25 sales of ₹104.7 cr.Red herring prospectus, p.109 and p.142
Show 5 more facts
- Buying season
- 80% to 90%
- Share of the year's potatoes bought in the December to March harvest, then stored for the rest of the year.Red herring prospectus, p.141
- Potato sourcing
- 88.60%
- Share of FY25 potato purchases bought from traders; farmers gave 9.32%, with no supply contracts in place.Red herring prospectus, p.153 and p.154
- Plant land
- Leased till 2046
- The plant stands on land leased from promoters Prashant Singhal and Nishant Singhal; the expansion land is also leased from promoters.Red herring prospectus, p.161 and p.162
- One product
- Potato flakes
- Almost all sales come from one product; online retail packs brought in less than ₹0.1 cr in FY25.Red herring prospectus, p.144
- Farmers
- 114
- Farmers linked to the company in 2025, up from 48 in 2018; most potatoes still come through traders.Red herring prospectus, p.153 and 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 company has no order book; customers order without binding agreements. The offer document set out a dated plan for a second flake line next to the present plant: building from June 2025, machinery from Tummers of the Netherlands installed between January and April 2026, a trial run in May 2026 and commercial operation from 1 June 2026. The documents read here do not show whether that date was met.
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.
Shivashrit Foods earns its money by buying potatoes cheaply at harvest and selling dried flakes to food factories through the year, and has kept a wide margin in recent years.
Its weak spots are a single product, a few large buyers with no contracts, profits that move with the potato crop, and a lot of money tied up in stored potatoes.
WatchCan it set its own prices?Not fully. Its main cost is potatoes bought at market prices each harvest, and the flakes compete with other suppliers.
AverageHow strong is it against rivals?It has export-grade certificates and sits close to potato farms, but it makes one product that buyers can source elsewhere.
WatchWho are its customers?A handful of food makers take most of its flakes, and none is tied by a binding agreement.
WatchDoes it need a lot of money?Yes. It buys most of a year's potatoes in a few months, and it is now building a second line that costs several times its yearly profit.
AverageCan it keep finding new work?Domestic sales have grown, but export buyers change a lot from year to year and the retail packs are still very small.
WatchDo good and bad years swing a lot?Yes. Profit depends on the price of the potato crop it buys each winter and on how full the plant runs.
Who runs Shivashrit Foods?
Promoters, directors and officers; tap a name for the background
NSNishant SinghalPromoter and Managing Director · holds 14.68%
Holds a B.Com (Hons.) from Aligarh Muslim University (2004), with about twenty years in food storage and seven in food processing. Has also worked in Prashant Enterprises, Nishant Cold Storage and Neomaxx Lights Private Limited. With the company since August 2017; Managing Director for five years from February 2025 at ₹0.60 cr a year. The prospectus states Nishant Singhal and Prashant Singhal are brothers and Sunita Singhal is their mother.
Red herring prospectus, p.177, p.179 and p.180PSPrashant SinghalPromoter, Chairman and Non-Executive Director · holds 17.51%
Holds a B.Sc (Hons.) in statistics from Aligarh Muslim University (1999), with about twenty-two years in business development in food storage and seven in food processing; guides the buying of potatoes. Has served as Mayor of Aligarh since 2023. With the company since August 2017; paid a sitting fee, not a salary.
Red herring prospectus, p.177, p.179 and p.180SSSunita SinghalPromoter and Non-Executive Director · holds 18.37%
Passed matriculation and was for 22 years an executive partner in Prashant Enterprises, a firm making and exporting door handles and brass and bronze hardware. On the board since September 2024; leased the registered office to the company.
Red herring prospectus, p.178, p.179 and p.161RCRamesh Chand SinghalPromoter · holds 18.51%
Named a promoter in the prospectus; earlier a director of the company, resigning on 20 September 2024 because of other commitments. One of the lessors of the expansion land.
Red herring prospectus, p.190, p.191 and p.162AJAbhishek JainChief Financial Officer
Holds a B.Com from the University of Delhi and a management certificate from the Indian Institute of Management, with over twelve years in finance and accounts, including twelve years as an executive partner in the finance and accounts side of Prashant Enterprises. Chief Financial Officer since February 2025. The prospectus states Abhishek Jain is a nephew of Sunita Singhal and Ramesh Chand Singhal.
Red herring prospectus, p.187, p.188 and p.189BKBijay Kumar SinghPlant Head, Operations
Holds an M.Sc from Hemwati Nandan Bahuguna Garhwal University, with over six years in quality and production in packaged consumer goods; runs the plant.
Red herring prospectus, p.188SSachinIndependent Director
Holds an MBA and a diploma in business management from the Institute of Chartered Financial Analysts of India University, Tripura, with more than ten years in business operations, information technology, data analysis and finance. On the board since September 2024.
Red herring prospectus, p.178 and p.179SASagar AgarwalIndependent Director
Holds a B.Com, LL.B. and M.Com from Chaudhary Charan Singh University, Meerut, and has been an associate member of the Institute of Company Secretaries of India since 2019, with more than five years in financial analysis and corporate governance. On the board since September 2024.
Red herring prospectus, p.178, p.179 and p.180Shivashrit Foods latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹52.3 cr (-3%), net profit ₹6.5 cr (+9%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 73.00%; Aarth AIF Growth Fund new at 1.01%.
Shivashrit Foods announcements
17 on record, latest first; each opens the filing on the exchange
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 30, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Updates'Intimation of Book Closure pursuant to Regulation 42 of SEBI (LODR) Regulations2015.'PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 30, 2026PDF ↗
- Outcome of Board MeetingHeld on September 08, 2026PDF ↗
- Monitoring Agency ReportFor the quarter ended June 30, 2026 - in relation to the IPO of Shivashrit Foods LimitedPDF ↗
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Reply to Clarification- Financial resultsThe Exchange had sought clarification from Shivashrit Foods Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObligatPDF ↗
- Clarification - Financial ResultsThe Exchange has sought clarification from Shivashrit Foods Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing ObligatPDF ↗
Shivashrit Foods annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Shivashrit Foods 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 Shivashrit Foods' 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 (1,82,69,000 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 (₹24.96) and FY25 (₹8.61) 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, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Shivashrit Foods
What does Shivashrit Foods do?
Shivashrit Foods turns potatoes into dried potato flakes at its plant in Aligarh and sells them in bulk to snack and food makers in India and abroad. Its shares trade on NSE Emerge.
What is the share price of Shivashrit Foods?
₹118 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Shivashrit Foods?
₹215 cr at the close on 6 Nov 2026, on 1,82,69,000 shares.
What is the P/E of Shivashrit Foods?
15.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Shivashrit Foods' revenue and profit?
Revenue ₹114 cr and profit after tax ₹14 cr in FY26.
Who are the promoters of Shivashrit Foods?
Nishant Singhal, Prashant Singhal, Sunita Singhal, Ramesh Chand Singhal; promoters held 73.00% at 31 March 2026.
What was the IPO price of Shivashrit Foods?
₹142 a share; it listed on 1 Sept 2025.
What is Shivashrit Foods' website?
www.shivashritfoods.com
More SME companies like Shivashrit Foods
Other listed SME companies in food products, the closest in size first, each read from its own documents.
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- Adon Agro CommoditiesADON · BSE SME · Food ProductsMarket cap ₹230 cr
- Mother Nutri FoodsMNFL · BSE SME · Food ProductsMarket cap ₹200 cr
- Srivari Spices And FoodsSSFL · NSE Emerge · Food Products · listed 2023Market cap ₹243 cr
- Shivam ChemicalsSHIVAM · BSE SME · Food ProductsMarket cap ₹254 cr
- Magson Retail And DistributionMAGSON · NSE Emerge · Food Products · listed 2023Market cap ₹261 cr
Every listed SME company in Food Products → · SME companies listed in 2025 →
Built from 2 annual reports, 1 offer document, 17 exchange announcements, 2 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.