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Himalaya Food Overview

1. Business Overview

Himalaya Food International Ltd. (HFIL) operates within the agriculture and food processing sector in India. Based on its name, the company is likely involved in processing agricultural produce into food products, potentially with a focus on international markets. Its core business model would involve sourcing raw agricultural materials, processing them into value-added food products (e.g., frozen foods, canned goods, specialty produce), and then marketing and distributing these products to domestic and international customers. The company generates revenue through the sale of these processed food items.

2. Key Segments / Revenue Mix

Specific segment details and revenue contributions are not available. However, for a company like HFIL, potential segments could include:

Processed Foods: Sales of value-added agricultural products.

Fresh Produce: Direct sales of agricultural commodities if farming is part of its operations.

Domestic Sales: Revenue generated from the Indian market.

International Sales/Exports: Revenue generated from sales in global markets, indicated by "International" in its name.

Without further information, the exact mix remains undefined.

3. Industry & Positioning

HFIL operates in the Indian agriculture and food processing industry, which is vast, diverse, and highly competitive. The agriculture sector in India is characterized by a large number of small and marginal farmers, while the food processing sector includes both organized and unorganized players, from large conglomerates to small and medium-sized enterprises. HFIL likely positions itself by focusing on specific processed food categories, potentially leveraging its supply chain for quality produce and its "International" focus for export markets. The competitive landscape includes other domestic food processors, large consumer goods companies with food divisions, and potentially global players in the export markets.

4. Competitive Advantage (Moat)

Without specific company details, it is challenging to confirm a durable competitive advantage. Potential moats for HFIL, if present, could stem from:

Supply Chain Efficiency: A robust and efficient sourcing and processing network, especially for perishable agricultural goods.

Brand Recognition: If "Himalaya" carries significant brand equity in specific product categories, particularly in international markets.

Distribution Network: Strong relationships and infrastructure for distributing processed foods both domestically and internationally.

Specialized Expertise: Niche expertise in processing particular agricultural products or meeting stringent international food safety and quality standards.

However, establishing and maintaining these advantages in a fragmented and competitive industry can be challenging.

5. Growth Drivers

Key factors that can drive growth for HFIL over the next 3-5 years include:

Rising Disposable Incomes & Urbanization: Increasing demand for processed and convenient food products in India.

Export Opportunities: Growing global demand for food products and India's potential as a major food exporter.

Government Support: Initiatives and policies by the Indian government to promote agriculture and food processing (e.g., infrastructure development, subsidies).

Product Diversification: Introduction of new value-added food products catering to evolving consumer tastes.

Market Expansion: Entry into new domestic and international geographies.

6. Risks

HFIL faces several business risks:

Commodity Price Volatility: Fluctuations in the prices of raw agricultural materials can impact profitability.

Weather Dependency: Agricultural output is highly dependent on weather patterns, affecting raw material availability and quality.

Regulatory Changes: Evolving food safety standards, trade policies, and agricultural regulations in India and international markets.

Competition: Intense competition from both organized and unorganized players in the food processing sector.

Supply Chain Disruptions: Challenges in logistics, storage, and transportation of perishable goods.

Currency Fluctuations: For an "International" company, adverse movements in foreign exchange rates can impact export revenues and import costs.

Access to Capital: Need for capital expenditure for processing facilities and working capital management.

7. Management & Ownership

Specific details about the management team and ownership structure of Himalaya Food International Ltd. are not publicly available within the provided information. Typically, Indian companies, especially those of a certain vintage, tend to have promoter-led management structures, with significant ownership held by the founding family or group. The quality of management and governance would depend on factors such as experience, strategic vision, execution capabilities, and adherence to corporate governance standards, which cannot be assessed without further data.

8. Outlook

Himalaya Food International Ltd. operates in a sector with significant long-term potential, driven by India's growing population, increasing urbanization, and the global demand for food. The company's "International" focus suggests an avenue for growth through exports, leveraging India's agricultural base. However, the business faces inherent challenges such as commodity price volatility, weather risks, intense competition, and the complexities of navigating diverse regulatory environments in both domestic and international markets. Sustained growth will depend on effective supply chain management, product innovation, strong brand building, and efficient navigation of the competitive and regulatory landscape.

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Himalaya Food Key Financials

Market Cap ₹88 Cr.

Stock P/E 22.6

P/B 0.5

Current Price ₹10.4

Book Value ₹ 21.8

Face Value 10

52W High ₹17.9

Dividend Yield 0%

52W Low ₹ 6.8

Himalaya Food Share Price

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Volume
Price

Himalaya Food Quarterly Price

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Himalaya Food Peer Comparison

Himalaya Food Quarterly Results

#(Fig in Cr.) Mar 2021 Jun 2021 Sep 2021 Dec 2021 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 18 13 16 19 11 10 9 10 11 10
Other Income 1 0 1 1 0 0 0 0 0 0
Total Income 19 13 17 21 11 10 9 10 11 10
Total Expenditure 15 10 13 16 8 8 6 6 7 8
Operating Profit 5 3 4 5 3 1 2 4 4 2
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 2 3 3 3 1 1 2 2 2 2
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 3 1 1 2 2 0 0 3 3 1
Provision for Tax -1 0 0 0 0 0 0 0 0 0
Profit After Tax 4 1 1 2 2 0 0 3 3 1
Adjustments 0 -0 -0 0 0 0 0 0 0 0
Profit After Adjustments 4 1 1 2 2 0 0 3 3 1
Adjusted Earnings Per Share 0.6 0.1 0.2 0.4 0.3 0 0.1 0.4 0.3 0.1

Himalaya Food Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 101 114 121 112 91 79 56 63 68 47 40 40
Other Income 1 4 2 1 2 4 2 3 29 1 1 0
Total Income 102 117 124 113 93 83 58 66 98 47 41 40
Total Expenditure 95 101 93 84 129 63 46 47 115 36 31 27
Operating Profit 7 17 31 29 -36 20 12 18 -18 11 10 12
Interest 34 21 19 18 2 0 0 0 0 1 0 0
Depreciation 13 12 11 12 11 11 10 7 7 6 6 8
Exceptional Income / Expenses -0 -4 -2 -1 -21 0 0 84 0 0 0 0
Profit Before Tax -40 -20 -2 -1 -70 9 1 95 -25 4 3 7
Provision for Tax 1 1 0 -0 -1 -1 -1 -0 -1 -1 -1 0
Profit After Tax -40 -21 -2 -1 -70 10 3 95 -24 5 4 7
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -40 -21 -2 -1 -70 10 3 95 -24 5 4 7
Adjusted Earnings Per Share -6.7 -3.3 -0.4 -0.1 -10.5 1.6 0.4 15.1 -3.8 0.8 0.6 0.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -15% -14% -13% -9%
Operating Profit CAGR -9% -18% -13% 4%
PAT CAGR -20% -65% -17% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -40% -21% -1% 4%
ROE Average 3% -3% 16% -2%
ROCE Average 2% -4% 7% 2%

Himalaya Food Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 178 157 154 122 52 60 62 161 133 138 142
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 120 127 120 112 110 181 181 0 0 0 0
Other Non-Current Liabilities 10 11 11 12 11 12 11 10 10 16 22
Total Current Liabilities 60 69 78 85 91 18 19 88 80 54 52
Total Liabilities 369 364 364 331 264 271 272 259 223 208 216
Fixed Assets 180 170 162 157 145 136 128 126 70 67 61
Other Non-Current Assets 100 88 88 87 91 94 99 83 113 97 98
Total Current Assets 89 106 114 87 27 41 45 50 41 44 57
Total Assets 369 364 364 331 264 271 272 259 223 208 216

Himalaya Food Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 1 2 1 2 2 1 2 1 1 1 0
Cash Flow from Operating Activities -2 2 4 30 2 8 3 4 7 -3 7
Cash Flow from Investing Activities -13 -1 -4 -9 0 -2 3 -4 -3 -3 -3
Cash Flow from Financing Activities 15 -1 0 -22 -3 -5 -7 -0 -4 6 -0
Net Cash Inflow / Outflow 0 -0 1 -1 -1 1 -1 -0 -0 -0 4
Closing Cash & Cash Equivalent 2 1 2 2 1 2 1 1 1 0 5

Himalaya Food Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -6.74 -3.32 -0.39 -0.14 -10.54 1.58 0.4 15.13 -3.84 0.78 0.62
CEPS(Rs) -4.63 -1.49 1.42 1.72 -8.81 3.4 2.06 16.2 -2.76 1.79 1.63
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 29.14 24.88 24.5 18.94 7.95 9.47 9.87 25 21.15 21.93 22.55
Core EBITDA Margin(%) 5.68 11.37 23.47 24.94 -41.75 20.16 17.8 24.86 -68.32 22.92 22.18
EBIT Margin(%) -5.9 0.82 14.03 15.03 -74.67 11.26 2.57 152.23 -35.66 10.54 8.01
Pre Tax Margin(%) -39.32 -17.49 -1.93 -1.04 -76.81 10.91 2.16 151.65 -36.14 9.1 7.91
PAT Margin (%) -40 -18.41 -2.01 -0.76 -76.23 12.6 4.47 152.16 -35.4 10.49 9.73
Cash Profit Margin (%) -27.48 -8.27 7.37 9.72 -63.7 27.15 23.03 162.93 -25.44 24.07 25.55
ROA(%) -10.92 -5.71 -0.67 -0.24 -23.37 3.71 0.93 35.87 -10.05 2.27 1.84
ROE(%) -21.11 -12.63 -1.57 -0.62 -81.02 17.71 4.14 86.79 -16.66 3.61 2.79
ROCE(%) -1.69 0.27 5 5.23 -25.25 3.72 0.6 47.16 -16.58 3.63 2.29
Receivable days 61.7 71.68 92.62 83.46 66.46 58.67 65.51 114.07 163.33 258.92 364.41
Inventory Days 225.19 194.67 188.86 214.19 156.11 64.63 98.08 96.66 73.14 66.72 71.35
Payable days 22.93 53.32 96.43 101.15 56.59 156.08 228.67 225.9 299.13 220.01 155.82
PER(x) 0 0 0 0 0 3.12 22.69 1.31 0 25.25 16.66
Price/Book(x) 0.2 0.26 1.07 1.72 1.03 0.52 0.92 0.79 0.91 0.9 0.46
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 2.05 1.99 2.86 3.44 2.6 2.67 4.21 1.99 1.77 2.64 1.5
EV/Core EBITDA(x) 30.33 13.44 11.24 13.21 -6.59 10.35 19.91 6.73 -6.89 10.94 6.3
Net Sales Growth(%) -46.64 12.56 6.77 -8 -18.25 -13.66 -28.44 11.05 9.23 -31.71 -14.16
EBIT Growth(%) -217.96 115.56 1736.42 -1.43 -506.14 113.02 -83.65 6471.03 -125.59 120.18 -34.76
PAT Growth(%) -211.23 48.2 88.33 65.18 -8081.18 114.27 -74.6 3679.37 -125.41 120.25 -20.41
EPS Growth(%) -195.84 50.76 88.33 65.18 -7706.19 114.95 -74.59 3679.01 -125.41 120.25 -20.41
Debt/Equity(x) 0.99 1.19 1.19 1.49 3.5 3.04 2.91 0 0 0 0
Current Ratio(x) 1.47 1.53 1.47 1.02 0.3 2.27 2.41 0.57 0.5 0.82 1.1
Quick Ratio(x) 0.46 0.66 0.62 0.25 0.16 1.42 1.62 0.36 0.39 0.67 0.95
Interest Cover(x) -0.18 0.04 0.88 0.94 -34.75 31.68 6.3 264.67 -73.88 7.34 80.25
Total Debt/Mcap(x) 4.86 4.49 1.11 0.89 3.55 5.86 3.17 0 0 0 0

Himalaya Food Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 50.54 50.54 48.83 46.77 46.32 46.35 46.22 48.98 48.98 48.94
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 49.46 49.46 51.17 53.23 53.68 53.65 53.78 51.02 51.02 51.06
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Himalaya Food News

Himalaya Food Pros & Cons

Pros

  • Stock is trading at 0.5 times its book value
  • Debtor days have improved from 220.01 to 155.82days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 48.94%.
  • Company has a low return on equity of -3% over the last 3 years.
  • The company has delivered a poor profit growth of -16% over past five years.
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