Consumer Food · Founded 1983 · www.anjanifoods.in · BSE 511153 · · ISIN INE096I01021
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Business
Anjani Foods Ltd. is an Indian company operating in the consumer food sector. The company is primarily engaged in the manufacturing, processing, and marketing of various food products. Its core business model involves sourcing raw materials, processing them into finished food products, and distributing them through a network to consumers. The company generates revenue by selling these packaged food products, which typically include items such as biscuits, cookies, confectionery, and possibly other snack or bakery items, catering to everyday consumer needs.
Revenue Mix
Specific details on the exact revenue mix or major business segments for Anjani Foods Ltd. are not readily available in public domain without detailed financial reports. However, based on the industry, typical segments for such companies might include:
Biscuits & Cookies: Often a primary driver for food manufacturers.
Confectionery: Candies, chocolates, etc.
Snacks: Savory snacks, extruded snacks.
Bakery Products: Breads, cakes (if applicable).
Revenue is primarily derived from domestic sales through retail channels.
Industry
The Indian consumer food industry is large, diverse, and highly competitive, characterized by a mix of organized and unorganized players. It benefits from a large population, rising disposable incomes, and a gradual shift towards packaged and convenience foods. Anjani Foods Ltd. likely operates within this fragmented market, potentially holding a regional or niche presence rather than a national leadership position. It competes with a wide array of players ranging from large multinational corporations (e.g., Britannia, Parle, ITC, Nestle) and established domestic giants to numerous regional and local brands, often differentiating on price, taste, or local preferences.
MOAT
For a company like Anjani Foods Ltd., competitive advantages are typically built on:
Regional Brand Loyalty: If established, strong brand recognition and consumer trust within specific geographical pockets.
Distribution Network: An efficient and deep distribution network in its operating regions, ensuring product availability.
Cost Efficiency: Ability to manage raw material procurement and manufacturing costs effectively to offer competitive pricing.
Product Development: Agility in introducing new products or adapting existing ones to local tastes and preferences.
Compared to industry giants, scale advantages might be limited, and the primary moat would likely stem from local market penetration and consumer connect.
Growth Drivers
Key factors that can drive growth for Anjani Foods Ltd. over the next 3-5 years include:
Rising Disposable Incomes: Increasing purchasing power of consumers, leading to higher consumption of packaged foods.
Urbanization & Lifestyle Changes: Growing preference for convenient, ready-to-eat packaged foods due to busy lifestyles in urban and semi-urban areas.
Expanding Distribution: Penetrating new geographies and strengthening existing retail networks to increase market reach.
Product Innovation: Introduction of new flavors, product varieties, healthier options, and value-added products to cater to evolving consumer tastes.
Premiumization: Opportunities to introduce premium variants within existing product categories.
Risks
Raw Material Price Volatility: Fluctuations in prices of key agricultural commodities (e.g., wheat, sugar, edible oils) directly impact cost of goods sold and profitability.
Intense Competition: The presence of numerous large and small players, leading to price wars, marketing expenditure pressure, and challenges in gaining market share.
Changing Consumer Preferences: Rapid shifts in consumer tastes, health consciousness, and dietary trends requiring constant product adaptation.
Regulatory Risks: Changes in food safety standards, labeling regulations, or taxation policies (e.g., GST rates) can impact operations and costs.
Distribution Challenges: Maintaining an efficient and cost-effective supply chain, especially in fragmented retail environments.
Funding for Expansion: Availability and cost of capital for expanding manufacturing capacity, marketing, and distribution.
Management & Ownership
Anjani Foods Ltd., being an Indian company, is likely promoter-led. The promoter group typically holds a significant stake and plays a crucial role in strategic decision-making and day-to-day operations. Specific details regarding the management quality and individual management team members are not publicly detailed without access to company reports. Ownership structure would likely see the promoter group as the largest shareholder, with the remainder held by institutional investors (if publicly listed and followed) and public shareholders.
Outlook
Anjani Foods Ltd. operates in a structurally growing industry driven by favorable demographic and economic trends in India. The company has the potential to grow by leveraging its existing market presence, expanding its product portfolio, and enhancing its distribution network, particularly within its core operating regions. The bull case hinges on successful product innovation, efficient cost management to counter raw material inflation, and the ability to scale up operations without significant dilution of margins. However, the bear case involves intense competition from established national brands and agile local players, which can put pressure on pricing and market share. The ability to effectively navigate raw material price volatility, adapt to evolving consumer preferences, and secure adequate funding for expansion will be critical determinants of its long-term success.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 13 | 13 | 16 | 16 | 14 | 15 | 15 | 17 | 15 | 14 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 13 | 13 | 16 | 17 | 14 | 15 | 15 | 17 | 15 | 14 |
| Total Expenditure | 12 | 12 | 15 | 15 | 13 | 14 | 14 | 16 | 14 | 13 |
| Operating Profit | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 1 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | -0 | -0 | -0 | -0 | 0 |
| Profit Before Tax | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 0.1 | 0.1 | 0.2 | 0.2 | 0.1 | 0 | 0 | 0.1 | 0.1 | 0.1 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 12 | 13 | 16 | 21 | 17 | 15 | 23 | 35 | 49 | 52 | 60 | 61 |
| Other Income | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 13 | 14 | 18 | 22 | 17 | 16 | 23 | 35 | 49 | 52 | 60 | 61 |
| Total Expenditure | 12 | 13 | 16 | 21 | 16 | 15 | 23 | 34 | 45 | 47 | 55 | 57 |
| Operating Profit | 1 | 2 | 2 | 1 | 1 | 1 | 0 | 2 | 4 | 4 | 5 | 5 |
| Interest | 1 | 1 | 1 | 1 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 0 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 0 | -1 | -0 | -0 | -1 | 0 | 1 | 2 | 2 | 0 |
| Provision for Tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 |
| Profit After Tax | 0 | 0 | 0 | -1 | -0 | -0 | -1 | 0 | 1 | 1 | 1 | 0 |
| Adjustments | -0 | -0 | -0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 0 | -1 | -0 | -0 | -1 | 0 | 1 | 1 | 1 | 0 |
| Adjusted Earnings Per Share | 0.2 | 0.1 | 0.2 | -0.4 | -0.1 | -0.2 | -0.4 | 0.1 | 0.4 | 0.5 | 0.5 | 0.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 15% | 20% | 32% | 17% |
| Operating Profit CAGR | 25% | 36% | 38% | 17% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -33% | -19% | -14% | 26% |
| ROE Average | 9% | 8% | 3% | 1% |
| ROCE Average | 11% | 11% | 7% | 5% |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 9 | 9 | 10 | 9 | 9 | 8 | 8 | 12 | 13 | 14 | 16 |
| Minority's Interest | 0 | 1 | 1 | 1 | 1 | 1 | 1 | -0 | -1 | -1 | -1 |
| Borrowings | 5 | 5 | 8 | 2 | 1 | 1 | 1 | 5 | 5 | 5 | 7 |
| Other Non-Current Liabilities | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 7 | 6 | 8 | 7 |
| Total Current Liabilities | 3 | 5 | 3 | 5 | 5 | 5 | 7 | 9 | 10 | 11 | 12 |
| Total Liabilities | 18 | 21 | 23 | 18 | 17 | 17 | 18 | 33 | 33 | 37 | 41 |
| Fixed Assets | 11 | 14 | 16 | 13 | 13 | 13 | 13 | 24 | 25 | 29 | 34 |
| Other Non-Current Assets | 1 | 1 | 3 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 |
| Total Current Assets | 6 | 6 | 5 | 4 | 3 | 3 | 4 | 8 | 7 | 7 | 6 |
| Total Assets | 18 | 21 | 23 | 18 | 17 | 17 | 18 | 33 | 33 | 37 | 41 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -2 | 5 | 1 | 5 | 2 | 2 | 2 | 2 | 3 | 7 | 4 |
| Cash Flow from Investing Activities | -0 | -3 | -2 | 1 | -0 | -1 | -1 | -2 | -2 | -6 | -6 |
| Cash Flow from Financing Activities | 2 | -1 | 1 | -6 | -1 | -1 | -0 | 0 | -1 | -0 | 1 |
| Net Cash Inflow / Outflow | 0 | -0 | -0 | -0 | 0 | -0 | -0 | -0 | -0 | 0 | -1 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 |
| # | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.16 | 0.11 | 0.21 | -0.43 | -0.14 | -0.18 | -0.45 | 0.06 | 0.35 | 0.48 | 0.51 |
| CEPS(Rs) | 0.39 | 0.36 | 0.48 | -0.14 | 0.16 | 0.1 | -0.2 | 0.43 | 0.88 | 1.06 | 1.2 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 4.49 | 4.59 | 4.8 | 4.38 | 4.44 | 4.26 | 3.81 | 4.34 | 4.67 | 5.15 | 5.67 |
| Core EBITDA Margin(%) | 2.4 | 3.59 | 2.86 | 1.06 | 1.6 | 0.08 | -0.64 | 3.95 | 7.15 | 8.21 | 7.69 |
| EBIT Margin(%) | 8.81 | 9.95 | 7.75 | 0.67 | 2.5 | 0.96 | -1.59 | 2.15 | 4.22 | 4.97 | 4.43 |
| Pre Tax Margin(%) | 4.16 | 3.31 | 1.35 | -2.64 | -0.78 | -1.95 | -3.44 | 0.54 | 2.77 | 3.45 | 2.95 |
| PAT Margin (%) | 3.04 | 2.13 | 2.59 | -4.2 | -1.95 | -2.45 | -4.2 | 0.45 | 1.74 | 2.38 | 2.24 |
| Cash Profit Margin (%) | 6.65 | 5.49 | 5.84 | -1.35 | 1.97 | 1.29 | -1.71 | 3.42 | 5.03 | 5.76 | 5.6 |
| ROA(%) | 2.1 | 1.41 | 1.92 | -4.4 | -1.87 | -2.17 | -5.52 | 0.63 | 2.62 | 3.54 | 3.45 |
| ROE(%) | 4.1 | 3.06 | 4.56 | -9.79 | -3.69 | -4.25 | -11.9 | 1.61 | 6.76 | 8.95 | 8.84 |
| ROCE(%) | 7.23 | 7.57 | 6.68 | 0.84 | 3.11 | 1.18 | -3.2 | 4.79 | 9.83 | 11.44 | 10.52 |
| Receivable days | 22.37 | 17.6 | 14.82 | 12.25 | 10.03 | 5.03 | 4.22 | 8.06 | 10.43 | 10.6 | 9.13 |
| Inventory Days | 33.24 | 34.98 | 36.38 | 36.48 | 50.58 | 55.03 | 37.2 | 39.71 | 36.35 | 29.13 | 21.41 |
| Payable days | 30.56 | 27.6 | 27.83 | 23.86 | 29.82 | 28.85 | 18.55 | 45.73 | 52.84 | 54.85 | 54.02 |
| PER(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 377.56 | 62.55 | 62.42 | 57.65 |
| Price/Book(x) | 0 | 0 | 0 | 0.4 | 0.27 | 0.22 | 0.99 | 4.85 | 4.71 | 5.81 | 5.21 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.92 | 0.99 | 0.85 | 0.39 | 0.37 | 0.33 | 0.47 | 1.91 | 1.42 | 1.79 | 1.56 |
| EV/Core EBITDA(x) | 7.38 | 7.45 | 7.72 | 7.1 | 5.71 | 7 | 52.34 | 37.22 | 18.99 | 21.42 | 20.04 |
| Net Sales Growth(%) | 16.98 | 10.08 | 26.84 | 29.27 | -22.14 | -9.17 | 51.4 | 53.15 | 39.76 | 5.58 | 15.85 |
| EBIT Growth(%) | -10.52 | 24.43 | -1.27 | -88.87 | 192.37 | -65.18 | -351.34 | 306.64 | 174.09 | 24.36 | 3.41 |
| PAT Growth(%) | -62.29 | -23.01 | 54.32 | -309.8 | 63.82 | -13.79 | -159.69 | 116.56 | 436.36 | 44.41 | 8.77 |
| EPS Growth(%) | -65.73 | -33.79 | 95.66 | -305.79 | 66.78 | -27.5 | -147.73 | 112.44 | 531.42 | 36.48 | 6.65 |
| Debt/Equity(x) | 0.79 | 0.99 | 1.06 | 0.57 | 0.45 | 0.38 | 0.44 | 0.68 | 0.65 | 0.62 | 0.71 |
| Current Ratio(x) | 2.05 | 1.23 | 1.37 | 0.81 | 0.67 | 0.65 | 0.53 | 0.84 | 0.76 | 0.63 | 0.52 |
| Quick Ratio(x) | 1.66 | 0.96 | 0.8 | 0.33 | 0.22 | 0.18 | 0.17 | 0.28 | 0.28 | 0.29 | 0.24 |
| Interest Cover(x) | 1.89 | 1.5 | 1.21 | 0.2 | 0.76 | 0.33 | -0.87 | 1.34 | 2.92 | 3.28 | 2.98 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 1.4 | 1.64 | 1.71 | 0.45 | 0.14 | 0.14 | 0.11 | 0.14 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +15% | +20% | +32% | +17% |
| Operating Profit CAGR | +25% | +36% | +38% | +17% |
| PAT CAGR | 0% | — | — | — |
| Share Price CAGR | -33% | -19% | -14% | +26% |
| ROE Average | +9% | +8% | +3% | +1% |
| ROCE Average | +11% | +11% | +7% | +5% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 | 75 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 |
| Public | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 | 24.99 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 | 2.1 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 | 0.7 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 | 2.79 |
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