Pharmaceuticals & Drugs · Founded 1995 · www.source_natural.com · BSE 531398 · · ISIN INE679C01027
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Business
Source Natural Foods and Herbal Supplements Ltd. is an Indian company operating in the health and wellness sector, specifically focusing on natural food products and herbal supplements. Its core business involves the development, manufacturing, and marketing of a range of products designed to support general health, address specific nutritional needs, and promote well-being through natural and herbal ingredients. The company generates revenue by selling these products to consumers, likely through a combination of retail channels, online platforms, and potentially institutional sales.
Revenue Mix
Based on the company name, its primary segments would likely include:
Herbal Supplements: Products derived from herbs and botanicals, formulated for various health benefits (e.g., immunity, digestion, energy).
Natural Foods: Food products that emphasize natural ingredients, potentially including functional foods, organic options, or specialized dietary items.
Specific revenue contribution details for these segments are not available without access to the company's financial reports.
Industry
Source Natural Foods and Herbal Supplements Ltd. operates within the broader Pharmaceuticals & Drugs sector, but more specifically in the growing Indian market for nutraceuticals, herbal supplements, and natural foods. This industry is characterized by increasing consumer awareness regarding health, wellness, and preventative care. The competitive landscape is fragmented, comprising large pharmaceutical companies with wellness divisions, established Ayurvedic and traditional medicine players, and numerous specialized supplement manufacturers. Source Natural likely positions itself by emphasizing the natural origin, quality, and potential health benefits of its products, aiming to cater to consumers seeking holistic and natural health solutions.
MOAT
For a company in the herbal and natural supplements space, potential competitive advantages (moats) could include:
Brand Reputation & Trust: A strong brand built on consistent product quality, efficacy, and safety, fostering consumer trust.
Proprietary Formulations: Unique or patented herbal blends and formulations that deliver superior results or address specific health concerns effectively.
Sourcing & Supply Chain: Access to high-quality, sustainably sourced raw materials or proprietary cultivation methods.
Distribution Network: A robust and widespread distribution network enabling broad market reach.
Without specific details, it is difficult to ascertain a deep, durable moat, as many product categories can be replicated by competitors.
Growth Drivers
Key factors that can drive growth for Source Natural Foods and Herbal Supplements Ltd. over the next 3-5 years include:
Increasing Health Consciousness: Growing consumer awareness about health, wellness, and preventative healthcare in India.
Demand for Natural Products: Rising preference for natural, organic, and herbal solutions over synthetic alternatives.
Product Innovation & Expansion: Introduction of new products and formulations to address emerging health trends and expanding existing product lines.
Market Penetration: Expanding geographical reach within India and potentially exploring export markets.
E-commerce Adoption: Leveraging online sales channels to reach a wider customer base, especially in tier-2 and tier-3 cities.
Risks
Key business risks for Source Natural Foods and Herbal Supplements Ltd. include:
Regulatory Changes: Stricter regulations regarding product claims, labeling, ingredients, and manufacturing standards for food and supplement products.
Intense Competition: High competition from both established large players and new entrants in the fragmented natural health market.
Raw Material Volatility: Fluctuations in the availability and prices of natural and herbal raw materials, impacting production costs and margins.
Quality Control & Reputation: Any lapse in product quality, safety, or efficacy can severely damage brand reputation and consumer trust.
Changing Consumer Preferences: Shifting consumer trends or scientific findings that may impact the demand for specific natural ingredients or products.
Management & Ownership
Typically, companies like Source Natural Foods and Herbal Supplements Ltd. are driven by promoter vision and supported by professional management teams. The promoters are usually instrumental in setting the strategic direction, fostering R&D, and establishing the brand identity. The quality of management is critical for navigating regulatory complexities, ensuring quality, and scaling operations effectively. Specific details on the promoters, the exact composition of the management board, and the detailed ownership structure would be available in the company's annual reports and public filings.
Outlook
The outlook for Source Natural Foods and Herbal Supplements Ltd. presents both opportunities and challenges. The bull case rests on the robust growth trajectory of the Indian health and wellness market, driven by increasing disposable incomes, rising health awareness, and a growing preference for natural and preventive healthcare solutions. If the company can consistently deliver high-quality, effective products, innovate effectively, and build a strong, trusted brand, it stands to benefit significantly from these macroeconomic tailwinds. The bear case, however, highlights the highly competitive nature of the industry, potential for stringent regulatory oversight, and the continuous need for investment in R&D and marketing to stay relevant. Execution risks related to scaling operations while maintaining quality, managing supply chain complexities, and adapting to evolving consumer preferences also pose challenges. A balanced view suggests that while the underlying market trends are favorable, the company's success will largely depend on its ability to differentiate its products, maintain strict quality control, and effectively navigate the competitive and regulatory landscape.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 7 | 8 | 7 | 8 | 10 | 10 | 16 | 17 | 20 | 21 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 7 | 8 | 7 | 8 | 10 | 10 | 16 | 17 | 20 | 21 |
| Total Expenditure | 6 | 6 | 5 | 7 | 9 | 9 | 15 | 16 | 19 | 19 |
| Operating Profit | 1 | 2 | 1 | 1 | 1 | 2 | 1 | 1 | 2 | 2 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 |
| Provision for Tax | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Profit After Tax | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | -0 | 0 | -0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Adjusted Earnings Per Share | 0.3 | 1.5 | 0.5 | 0.7 | 1.3 | 1.6 | 1 | 1.1 | 1.3 | 1.9 |
| #(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 | 7 | 11 | 16 | 11 | 13 | 14 | 25 | 22 | 20 | 27 | 45 | 74 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 7 | 11 | 16 | 11 | 13 | 14 | 25 | 22 | 20 | 27 | 45 | 74 |
| Total Expenditure | 6 | 10 | 14 | 9 | 11 | 11 | 21 | 18 | 16 | 23 | 40 | 69 |
| Operating Profit | 1 | 1 | 2 | 1 | 2 | 2 | 5 | 4 | 4 | 4 | 5 | 6 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Depreciation | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 |
| Exceptional Income / Expenses | -0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | 1 | 1 | 1 | 2 | 4 | 4 | 3 | 3 | 4 | 5 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit After Tax | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 2 | 2 | 2 | 3 | 4 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 0 | 1 | 1 | 1 | 2 | 3 | 2 | 2 | 2 | 3 | 4 |
| Adjusted Earnings Per Share | 0.3 | 0.7 | 2.2 | 1.2 | 1.6 | 2.5 | 5.2 | 3.8 | 3.3 | 2.7 | 4.5 | 5.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 67% | 27% | 26% | 20% |
| Operating Profit CAGR | 25% | 8% | 20% | 17% |
| PAT CAGR | 50% | 14% | 8% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -21% | 7% | -5% | 11% |
| ROE Average | 14% | 12% | 16% | 14% |
| ROCE Average | 17% | 17% | 22% | 17% |
| #(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 | 5 | 6 | 7 | 8 | 9 | 10 | 13 | 16 | 18 | 19 | 22 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | -0 | -0 | -0 | -1 | -1 | -0 | 0 | 1 | 1 |
| Total Current Liabilities | 1 | 1 | 4 | 3 | 2 | 3 | 4 | 3 | 3 | 5 | 13 |
| Total Liabilities | 6 | 7 | 11 | 11 | 10 | 12 | 16 | 19 | 21 | 25 | 36 |
| Fixed Assets | 4 | 3 | 4 | 4 | 4 | 3 | 4 | 5 | 7 | 6 | 5 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 5 |
| Total Current Assets | 2 | 3 | 8 | 7 | 6 | 9 | 11 | 14 | 15 | 19 | 26 |
| Total Assets | 6 | 7 | 11 | 11 | 10 | 12 | 16 | 19 | 21 | 25 | 36 |
| #(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 | 0 | 1 | 1 | 0 | 0 | 1 | 0 | 3 | 1 | 3 | 7 |
| Cash Flow from Operating Activities | 0 | 0 | -1 | 0 | 3 | -0 | 4 | -1 | 3 | 3 | 0 |
| Cash Flow from Investing Activities | -0 | -0 | -2 | 0 | -0 | -1 | -2 | 0 | 0 | 0 | -5 |
| Cash Flow from Financing Activities | 0 | 0 | 2 | -0 | -2 | 0 | 0 | -1 | -1 | 1 | 5 |
| Net Cash Inflow / Outflow | 0 | 0 | -1 | -0 | 1 | -1 | 3 | -2 | 2 | 4 | 0 |
| Closing Cash & Cash Equivalent | 1 | 1 | 0 | 0 | 1 | 0 | 3 | 1 | 3 | 7 | 7 |
| # | 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) | 0.26 | 0.66 | 2.18 | 1.24 | 1.59 | 2.55 | 5.24 | 3.78 | 3.3 | 2.7 | 4.51 |
| CEPS(Rs) | 1.15 | 1.42 | 2.73 | 1.78 | 2.12 | 3.07 | 5.81 | 4.42 | 4.25 | 4.32 | 6.09 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 7.71 | 8.64 | 10.82 | 12.07 | 13.66 | 15.21 | 20.45 | 24.23 | 27.52 | 30.22 | 34.73 |
| Core EBITDA Margin(%) | 10.09 | 8.14 | 10.49 | 12.85 | 11.15 | 15.8 | 16.79 | 17.89 | 18.24 | 15.07 | 10.28 |
| EBIT Margin(%) | 2.35 | 4.09 | 8.5 | 9.77 | 8.81 | 13.74 | 16.62 | 18.24 | 15.2 | 11.41 | 8.4 |
| Pre Tax Margin(%) | 2.24 | 4.02 | 8.09 | 7.57 | 7.42 | 12.23 | 16.2 | 17.1 | 13.83 | 10.71 | 7.16 |
| PAT Margin (%) | 2.24 | 3.6 | 8.06 | 7.29 | 7.21 | 10.85 | 13.56 | 11.3 | 10.72 | 5.85 | 5.8 |
| Cash Profit Margin (%) | 9.95 | 7.69 | 10.09 | 10.44 | 9.58 | 13.09 | 15.04 | 13.23 | 13.84 | 9.37 | 7.83 |
| ROA(%) | 2.75 | 6.76 | 15.73 | 7.31 | 9.84 | 14.6 | 24.11 | 14.11 | 10.54 | 7.49 | 9.53 |
| ROE(%) | 3.86 | 8.31 | 22.42 | 10.87 | 12.4 | 17.65 | 29.4 | 16.92 | 12.73 | 9.34 | 13.89 |
| ROCE(%) | 3.22 | 8.94 | 20.4 | 11.67 | 13.56 | 20.89 | 33.08 | 26.4 | 18.02 | 17.63 | 16.68 |
| Receivable days | 15.08 | 16.34 | 54.75 | 141.46 | 95.7 | 122.31 | 93.72 | 116.35 | 139.71 | 91.7 | 71.97 |
| Inventory Days | 45.21 | 40.13 | 31.77 | 64.2 | 53.4 | 38.7 | 21.75 | 38.15 | 60.7 | 49.91 | 37.82 |
| Payable days | 81.96 | 74.07 | 68.71 | 74.82 | 37.87 | 52.06 | 25.5 | 40.6 | 67.04 | 53.64 | 33.06 |
| PER(x) | 54.07 | 57.47 | 60.07 | 88.01 | 27.44 | 28.38 | 28.24 | 25.14 | 26.98 | 32.68 | 46.14 |
| Price/Book(x) | 1.81 | 4.41 | 12.11 | 9.08 | 3.2 | 4.75 | 7.24 | 3.92 | 3.23 | 2.92 | 5.99 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 2.29 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 1.24 | 2.18 | 5.4 | 6.66 | 2.15 | 3.51 | 3.76 | 2.8 | 2.75 | 1.86 | 2.99 |
| EV/Core EBITDA(x) | 11.34 | 24.54 | 46.92 | 50.82 | 17.32 | 19.75 | 20.69 | 13.89 | 15 | 11.36 | 25.69 |
| Net Sales Growth(%) | 43.96 | 67.01 | 45.89 | -32 | 18.17 | 6.11 | 83.07 | -13.48 | -8.09 | 37.96 | 64.57 |
| EBIT Growth(%) | -3.95 | 193.31 | 204.91 | -27.43 | 16.75 | 65.45 | 99.31 | -5.08 | -23.4 | 12.63 | 24.25 |
| PAT Growth(%) | -8.35 | 170.17 | 229.12 | -42.97 | 28.16 | 59.76 | 105.76 | -27.9 | -12.8 | -18.13 | 67.23 |
| EPS Growth(%) | -21.87 | 156.03 | 229.12 | -42.97 | 28.16 | 59.76 | 105.76 | -27.9 | -12.8 | -18.13 | 67.24 |
| Debt/Equity(x) | 0.02 | 0.01 | 0.27 | 0.23 | 0.02 | 0.11 | 0.07 | 0 | 0 | 0.06 | 0.33 |
| Current Ratio(x) | 3.17 | 3.62 | 1.84 | 2.24 | 3.85 | 3 | 3.01 | 4.27 | 4.33 | 3.97 | 2.01 |
| Quick Ratio(x) | 1.45 | 2.12 | 1.43 | 1.51 | 2.66 | 2.58 | 2.53 | 3.41 | 3.22 | 3.09 | 1.55 |
| Interest Cover(x) | 21.85 | 58.79 | 20.99 | 4.44 | 6.32 | 9.12 | 39.76 | 16.08 | 11.09 | 16.23 | 6.73 |
| Total Debt/Mcap(x) | 0.01 | 0 | 0.02 | 0.03 | 0.01 | 0.02 | 0.01 | 0 | 0 | 0.02 | 0.06 |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 |
| 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 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +67% | +27% | +26% | +20% |
| Operating Profit CAGR | +25% | +8% | +20% | +17% |
| PAT CAGR | +50% | +14% | +8% | — |
| Share Price CAGR | -21% | +7% | -5% | +11% |
| ROE Average | +14% | +12% | +16% | +14% |
| ROCE Average | +17% | +17% | +22% | +17% |
| # | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 | 74.37 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 | 25.63 |
| 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 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 | 0.17 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 | 0.64 |
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