Trading · Founded 2009 · www.fratelliwines.in · BSE 541741 · · ISIN INE401Z01019
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Business
Fratelli Vineyards Ltd. (FRATELLI) is an Indian company engaged in the Trading sector. Its core business model involves buying and selling goods, commodities, or potentially services to generate revenue. Given the "Vineyards" in its name, it is highly probable that the company specializes in trading products related to agriculture, food & beverages, specifically wine, grapes, or other related alcoholic/non-alcoholic beverages and inputs. The company makes money through trading margins, by sourcing goods at a competitive price and selling them at a higher price, or through commissions on facilitated trades.
Revenue Mix
Specific revenue segments are not disclosed. However, based on the company's name, it is reasonable to infer that its trading activities likely focus on:
Agricultural commodities (e.g., grapes, other fruits)
Wine and alcoholic beverages (potentially as a distributor or importer/exporter)
Related food and beverage products
Without further information, a detailed breakdown of revenue mix is not available.
Industry
Fratelli Vineyards Ltd. operates within the broad and often fragmented Trading industry in India. This industry is characterized by varying levels of competition, depending on the specific goods or commodities being traded. Barriers to entry can be relatively low for general trading, but higher for specialized segments requiring specific licenses, logistics, or deep market knowledge. Given the company's name, it likely operates in a niche within the food and beverage or agricultural trading space. Its specific positioning relative to competitors (e.g., market share, specialization) is not disclosed, but it is likely a specialized player focusing on its implied domain.
MOAT
As a trading company, sustainable competitive advantages can be challenging to establish. Potential sources of moat for Fratelli Vineyards Ltd. could include:
Supplier and Buyer Relationships: Strong, long-standing relationships with key suppliers and a robust distribution network to buyers, especially in specialized product categories like wine or agricultural products.
Logistics & Supply Chain Expertise: Efficient warehousing, transportation, and cold chain management (if dealing with perishables) within its trading niche.
Market Knowledge & Intelligence: Deep understanding of demand-supply dynamics, pricing, regulatory landscape, and consumer preferences within its specific product categories.
Brand (indirect): While a trading company typically doesn't have a direct brand moat on traded goods, if Fratelli Vineyards Ltd. is associated with the well-known "Fratelli" wine brand (e.g., as its trading/distribution arm), it could leverage that brand's reputation for market access and credibility.
Growth Drivers
Key factors that could drive growth for Fratelli Vineyards Ltd. over the next 3-5 years include:
Expanding Product Portfolio: Diversifying into new, complementary agricultural or food and beverage products within its trading expertise.
Geographic Expansion: Extending its trading network to new regions within India or exploring export/import opportunities.
Increased Demand: Growth in consumer demand for the products it trades, particularly premium wines or value-added agricultural products.
Supply Chain Optimization: Enhancing efficiency in sourcing, logistics, and inventory management to improve margins and competitiveness.
Strategic Partnerships: Forming alliances with producers or distributors to secure exclusive trading rights or expand market reach.
Risks
Fratelli Vineyards Ltd. faces several risks inherent to the trading business:
Commodity Price Volatility: Fluctuations in the prices of agricultural products or other commodities it trades can significantly impact margins and inventory values.
Supply Chain Disruptions: Events such as adverse weather, pest outbreaks, geopolitical tensions, or transport issues can disrupt supply, increase costs, or affect product quality.
Intense Competition: The trading sector is generally competitive, leading to potential margin compression and pricing pressure.
Regulatory Changes: Changes in trade policies, import/export duties, tariffs, or food and beverage regulations in India could impact operations and profitability.
Inventory Management: Risk of obsolescence, spoilage (especially for agricultural/food products), or overstocking leading to write-downs.
Counterparty Risk: Risk of non-payment from buyers or failure of suppliers to deliver goods as per agreement.
Management & Ownership
Information regarding the promoters, management quality, and ownership structure of Fratelli Vineyards Ltd. is not provided. Typically, in India, companies with "Ltd." in their name are either privately held or closely-held public companies, often promoter-driven.
Outlook
Fratelli Vineyards Ltd. operates within a dynamic and competitive trading environment. Its potential for stable profitability and growth hinges on its ability to leverage any specialization in agricultural or food and beverage trading, maintain robust supply chain relationships, and effectively manage market risks.
Bull Case: The company successfully capitalizes on growing consumer demand for specific food/beverage products (e.g., wines, gourmet agri-products), expands its trading network, and builds efficient logistics, leading to consistent trading margins and modest expansion.
Bear Case: Intense competition, significant commodity price volatility, or unforeseen supply chain disruptions could pressure margins. Ineffective inventory management or adverse regulatory changes could also negatively impact its financial performance.
Overall, Fratelli Vineyards Ltd. appears to be a specialized trading entity likely within the agri-food and beverage sector in India. Its performance will largely be influenced by its operational efficiency, market acumen, and the broader economic and sector-specific trends impacting its traded goods.
| #(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 | 119 | 150 | 63 | 58 | 32 | 37 | 46 | 64 | 35 | 45 |
| Other Income | 1 | 1 | 0 | 2 | 1 | 1 | 0 | 1 | 1 | 1 |
| Total Income | 120 | 151 | 63 | 60 | 32 | 37 | 46 | 65 | 36 | 45 |
| Total Expenditure | 119 | 146 | 61 | 58 | 43 | 39 | 45 | 64 | 40 | 44 |
| Operating Profit | 1 | 5 | 2 | 2 | -10 | -2 | 1 | 0 | -4 | 1 |
| Interest | 4 | 4 | 4 | 3 | 3 | 3 | 3 | 3 | 3 | 4 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -5 | -0 | -4 | -4 | -15 | -8 | -4 | -5 | -9 | -5 |
| Provision for Tax | -1 | -0 | -1 | -1 | -4 | -2 | -1 | 4 | -2 | -1 |
| Profit After Tax | -4 | -0 | -3 | -3 | -11 | -6 | -3 | -9 | -7 | -4 |
| Adjustments | 3 | 3 | -0 | 0 | -0 | 0 | 0 | 0 | 0 | -0 |
| Profit After Adjustments | -1 | 3 | -3 | -3 | -11 | -6 | -3 | -9 | -7 | -4 |
| Adjusted Earnings Per Share | -0.6 | 0.6 | -0.7 | -0.6 | -2.5 | -1.3 | -0.8 | -2 | -1.6 | -0.8 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|
| Net Sales | 416 | 464 | 488 | 304 | 245 | 421 | 276 | 190 |
| Other Income | 3 | 6 | 2 | 2 | 4 | 4 | 4 | 3 |
| Total Income | 419 | 470 | 490 | 306 | 249 | 425 | 280 | 192 |
| Total Expenditure | 405 | 458 | 478 | 302 | 244 | 392 | 282 | 193 |
| Operating Profit | 14 | 12 | 12 | 4 | 5 | 33 | -2 | -2 |
| Interest | 5 | 10 | 7 | 4 | 4 | 14 | 14 | 13 |
| Depreciation | 3 | 3 | 3 | 3 | 3 | 7 | 7 | 8 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 6 | -0 | 2 | -4 | -2 | 12 | -23 | -23 |
| Provision for Tax | 2 | -0 | 0 | -1 | -0 | 3 | -6 | 0 |
| Profit After Tax | 3 | -0 | 2 | -3 | -1 | 9 | -17 | -23 |
| Adjustments | 1 | 0 | -0 | -1 | -0 | -9 | 3 | 0 |
| Profit After Adjustments | 4 | -0 | 2 | -3 | -2 | -0 | -14 | -23 |
| Adjusted Earnings Per Share | 0 | 0 | 2 | -3.6 | -1.9 | -0.2 | -3.2 | -5.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -34% | -3% | -10% | 0% |
| Operating Profit CAGR | -106% | NAN% | NAN% | 0% |
| PAT CAGR | -289% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 2% | 67% | 50% | NA% |
| ROE Average | -20% | 4% | 2% | 3% |
| ROCE Average | -5% | 9% | 8% | 9% |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 29 | 29 | 31 | 28 | 27 | 22 | 156 |
| Minority's Interest | 6 | 6 | 6 | 7 | 0 | 93 | 0 |
| Borrowings | 13 | 12 | 10 | 9 | 1 | 19 | 30 |
| Other Non-Current Liabilities | 2 | 3 | 3 | 1 | -1 | 18 | 11 |
| Total Current Liabilities | 69 | 75 | 28 | 40 | 40 | 191 | 127 |
| Total Liabilities | 119 | 125 | 79 | 85 | 66 | 345 | 324 |
| Fixed Assets | 34 | 31 | 28 | 25 | 1 | 61 | 90 |
| Other Non-Current Assets | 8 | 10 | 9 | 9 | 5 | 18 | 20 |
| Total Current Assets | 77 | 84 | 41 | 51 | 60 | 266 | 213 |
| Total Assets | 119 | 125 | 79 | 85 | 66 | 345 | 324 |
| #(Fig in Cr.) | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 2 | 0 | 1 | 4 | 2 | 5 | 16 |
| Cash Flow from Operating Activities | 8 | -1 | 51 | -13 | 3 | 7 | -7 |
| Cash Flow from Investing Activities | -15 | 7 | 6 | 2 | -1 | -21 | -33 |
| Cash Flow from Financing Activities | 5 | -5 | -54 | 8 | -4 | 25 | 25 |
| Net Cash Inflow / Outflow | -1 | 1 | 3 | -3 | -1 | 11 | -15 |
| Closing Cash & Cash Equivalent | 0 | 1 | 4 | 2 | 0 | 16 | 2 |
| # | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0 | 0 | 2.03 | -3.64 | -1.91 | -0.18 | -3.23 |
| CEPS(Rs) | 12.5 | 3.15 | 5.5 | 0.49 | 1.29 | 18.07 | -2.26 |
| DPS(Rs) | 1 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 0 | 0 | 36.49 | 32.79 | 31.25 | 26 | 35.15 |
| Core EBITDA Margin(%) | 2.69 | 1.39 | 1.93 | 0.72 | 0.58 | 6.4 | -1.96 |
| EBIT Margin(%) | 2.74 | 2.01 | 1.82 | 0.31 | 1.11 | 5.77 | -2.97 |
| Pre Tax Margin(%) | 1.43 | -0.09 | 0.46 | -1.16 | -0.68 | 2.71 | -7.51 |
| PAT Margin (%) | 0.83 | -0.08 | 0.38 | -0.85 | -0.58 | 1.97 | -5.65 |
| Cash Profit Margin (%) | 1.5 | 0.58 | 0.97 | 0.14 | 0.45 | 3.43 | -3.23 |
| ROA(%) | 2.91 | -0.29 | 1.8 | -3.14 | -1.87 | 4.32 | -5.1 |
| ROE(%) | 11.94 | -1.23 | 6.05 | -8.67 | -5.15 | 36.18 | -19.57 |
| ROCE(%) | 11.74 | 9.37 | 11.25 | 1.57 | 4.66 | 27.08 | -4.51 |
| Receivable days | 8.78 | 24.72 | 26.97 | 21.68 | 19.42 | 58.18 | 147.74 |
| Inventory Days | 42.96 | 23.78 | 7.33 | 17.92 | 41.88 | 51.38 | 105.75 |
| Payable days | 4.38 | 5.7 | 7.96 | 10.44 | 13.97 | 50.1 | 103.49 |
| PER(x) | 0 | 0 | 10.61 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 0.59 | 0 | 0.48 | 4.27 | 5.01 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.14 | 0.16 | 0.07 | 0.14 | 0.15 | 0.45 | 3.12 |
| EV/Core EBITDA(x) | 4.17 | 5.98 | 2.94 | 10.66 | 6.98 | 5.86 | -517.47 |
| Net Sales Growth(%) | 0 | 11.48 | 5.07 | -37.61 | -19.48 | 72.01 | -34.44 |
| EBIT Growth(%) | 0 | -18.3 | -5.16 | -89.34 | 189.09 | 854.14 | -134.44 |
| PAT Growth(%) | 0 | -110.38 | 609.78 | -240.16 | 45.04 | 727.77 | -292.37 |
| EPS Growth(%) | 0 | 0 | 0 | -279.17 | 47.4 | 90.83 | -1740.15 |
| Debt/Equity(x) | 2.35 | 2.46 | 0.78 | 1.3 | 0.96 | 5.27 | 0.67 |
| Current Ratio(x) | 1.12 | 1.13 | 1.45 | 1.29 | 1.53 | 1.39 | 1.69 |
| Quick Ratio(x) | 0.41 | 0.97 | 1.17 | 0.74 | 0.66 | 0.9 | 1.03 |
| Interest Cover(x) | 2.08 | 0.96 | 1.34 | 0.21 | 0.62 | 1.89 | -0.65 |
| Total Debt/Mcap(x) | 0 | 0 | 1.31 | 0 | 2.01 | 1.24 | 0.13 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 58.16 | 56.89 | 56.9 | 56.9 | 56.9 | 56.91 | 57.12 | 57.19 | 57.19 | 57.19 |
| FII | 0.1 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| DII | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 |
| Public | 41.67 | 42.56 | 42.56 | 42.56 | 42.56 | 42.54 | 42.33 | 42.27 | 42.27 | 42.27 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.45 | 2.46 | 2.46 | 2.46 | 2.46 | 2.46 | 2.48 | 2.49 | 2.49 | 2.49 |
| FII | 0 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.76 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.22 | 4.33 | 4.33 | 4.33 | 4.33 | 4.33 | 4.35 | 4.35 | 4.35 | 4.35 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -34% | -3% | -10% | — |
| Operating Profit CAGR | -106% | 0% | 0% | — |
| PAT CAGR | -289% | — | — | — |
| Share Price CAGR | +2% | +67% | +50% | — |
| ROE Average | -20% | +4% | +2% | +3% |
| ROCE Average | -5% | +9% | +8% | +9% |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 58.16 | 56.89 | 56.9 | 56.9 | 56.9 | 56.91 | 57.12 | 57.19 | 57.19 | 57.19 |
| FII | 0.1 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 | 0.48 |
| DII | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.06 | 0.06 | 0.06 | 0.06 |
| Public | 41.67 | 42.56 | 42.56 | 42.56 | 42.56 | 42.54 | 42.33 | 42.27 | 42.27 | 42.27 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 2.45 | 2.46 | 2.46 | 2.46 | 2.46 | 2.46 | 2.48 | 2.49 | 2.49 | 2.49 |
| FII | 0 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 | 0.02 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.76 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 | 1.84 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 4.22 | 4.33 | 4.33 | 4.33 | 4.33 | 4.33 | 4.35 | 4.35 | 4.35 | 4.35 |
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