Company Overview

Foods & Inns Ltd, incorporated in 1967, is engaged in the business of processing and marketing fruit pulps, concentrates and spray dried fruit and vegetable powders, powder of various spices, frozen vegetables and snacks, and medicated products. The company is a USDA, FDA, and certified processor and exporter of processed fruit and vegetable products, and is one of the largest mango pulp processors in the country.

Foods and Inns Limited is an India-based food processing company primarily engaged in the manufacturing and selling a variety of processed tropical fruit and vegetable pulps, purees, spices, spray dried powders, frozen food, and other value-additive foods. The company operates through a diversified product portfolio that caters to both domestic and international markets.

Business Operations and Product Portfolio

The company's consumer products are marketed under brands such as Greentop, Kusum, and Madhu.

- Kusum Brand: Single ground spices and blended ground spices.

- Madhu Brand: Canned and Tetra Recart Alphonso, Kesar, sliced and diced fruits and vegetables, and fruit and vegetable pulp.

Their product range includes mango, guava, papaya, vegetables, pickles, snacks, and fruit powders.

The company's manufacturing facilities are located in Bombay and Nashik, with the export-oriented processed food and vegetable unit located in Nashik having commenced operations in November 1994. In March 2023, the company commissioned its Tetra Recart facility, enhancing its packaging capabilities for premium products.

Financial Performance and Market Position

Foods & Inns Ltd has seen market capitalization ranging from ₹734 crore to ₹852 crore as of May 2025. The company reported revenue of ₹1,020.13 crore and a profit of ₹36.72 crore for the fiscal year 2024.

Recent Financial Results (Consolidated)

- Q4 FY2025:

- Total Income: ₹400.11 crore (Revenue jumped 14.96% year-over-year)

- Net Profit: ₹22.93 crore (Net profit surged 338.43% year-over-year)

- FY2024:

- Total Income: ₹1,020.13 crore

- Net Profit: ₹36.72 crore

Production Linked Incentive (PLI) Benefits

A significant growth driver for Foods & Inns is its participation in the government's Production Linked Incentive (PLI) scheme.

- The company recently received sanctions for the 3rd Tranche of PLI Subsidy worth ₹25.08 crore.

- Total PLI incentives expected, including the ₹9.71 crore already received, amounts to approximately ₹145 crore.

- The PLI scheme provides a subsidy of 4% to 6% on the value of additional production, significantly enhancing the company's profitability outlook over the next four years.

Key Financial Metrics

Based on the latest available data:

- Market Capitalization: ₹734 - ₹852 crore (May 2025)

- Revenue (FY2024): ₹1,020.13 crore

- Net Profit (FY2024): ₹36.72 crore

- Q4 FY2025 Revenue: ₹400.11 crore

- Q4 FY2025 Net Profit: ₹22.93 crore

- 52-week High: ₹164.85 - ₹177.25

- 52-week Low: ₹75.20 - ₹95.10

- Return on Equity (ROE): 8.94%

- Return on Capital Employed (ROCE): 11.7%

Global Market Presence

The company derives a majority of its revenue from outside India. Foods & Inns exports its products to notable global markets including the UK, Kuwait, Saudi Arabia, Yemen, Japan, Germany, and West Asia. It holds the distinction of being the first company in India to export egg powder and has secured repeat orders for the same.

Corporate Structure and Governance

Foods & Inns Ltd operates through a corporate structure involving subsidiaries and associate companies:

- Subsidiaries: Dravya Finance and Asim Exports International (100% owned by FIL).

- Associate Companies:

- Tri Global Foods Private Limited (acquired 49% equity shares in 2021-22).

- Beyond Mango Private Limited (joint venture with D Technology Private Limited and Mr. Krishna Gupta).

Shareholding Pattern

Promoter holding in Foods & Inns Ltd has shown a positive trend, increasing to 25.36% as of March 2025 from 16.01% as of June 2024. This indicates strengthened promoter confidence in the company's future prospects.

Industry Position and Competitive Landscape

Foods & Inns Ltd operates within the fast-moving consumer goods (FMCG) sector, focusing on food products and packaged foods.

- Key Competitors: Manorama Industries, Puretrop Fruits, Krishival Foods, Lotus Chocolate, Bambino Agro Industries, Kothari Fermentation & Bio, and Himalaya Food.

- Market Standing: The company's market capitalization of approximately ₹748 crore is higher than the median market cap of its peers, which stands at ₹259 crore.

- Foods & Inns is positioned as a key player in India's processed food industry, leveraging significant export capabilities and benefiting from government policy support through PLI incentives.