ADF Foods share price today

ADF Foods Ltd's share price was ₹263.70 at the close on 4 November 2026. It has been rising for 24 weeks. That is 2.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹158 and ₹320, and at that close it sat 65% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today ADF Foods Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +1,528% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹167 crore, +25.6% on a year earlier.

   Why: Revenue rose because the company got more shelf space, listed products earlier, sold more types of ethnic foods, and saw strong demand for its ready-to-eat, ready-to-cook, shelf-stable and frozen foods.

   Next results: check whether the orders stuck in June get shipped in the September quarter or slip into the December quarter because of ship and container shortages.

   From the earnings call on 30 Jul 2026.

3. Profit up on a year earlier for 5 quarters in a row

   In the June 2026 quarter profit was ₹17 crore, +13.3% on a year earlier.

   Why: Profit rose because a tariff refund added to earnings, even though higher freight and brand spending took back some of the gain.

   Next results: check whether profit holds up as the tariff refund fades and the government PLI benefit runs out, with freight costs being passed on.

   From the earnings call on 30 Jul 2026.

For April to June 2026 (the quarter ended 30 June 2026), ADF Foods reported revenue of ₹167 crore, up 25.6% from ₹133 crore a year earlier, and a profit of ₹17.0 crore, up 13.3% from ₹15.0 crore.

ADF Foods results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

ADF Foods' management discussed these results on a call held on 30 July 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

ADF Foods closed at ₹263.70 on 4 November 2026, up 13.4% from ₹232.49 a year earlier (7 November 2025) and up 53.3% over five years. Its highest weekly close since March 2016 was ₹343.55 on 13 December 2024.

ADF Foods share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

563 weekly closes from 11 March 2016 to 4 November 2026.

4 Nov 2026: ADF Foods closed at ₹263.70, up 12.0% on the week and down 6.3% on the month. Our read, 22 Aug 2026: ADF Foods has demand and fresh frozen-food capacity, but shipment conversion, cash absorption and repeated revisions to Surat assumptions keep the case conditional.

Earlier

• 5 Aug 2026: ex-date for a dividend of ₹0.60 a share.
• 30 Jul 2026: ADF Foods held its results call for April to June 2026. Management guided: FY27 consolidated revenue goal is upwards of ₹900 crore, with management cautiously optimistic.
• Results for April to June 2026: Revenue up 25.6% and profit up 13.3% on a year earlier.
• 13 Nov 2025: ex-date for an interim dividend of ₹0.60 a share.

Our read of the business

Latest quarter: Demand held up, but shipment shortages and a tariff refund complicate the quality of the print.

Our read after the latest results, written 22 August 2026.

ADF Foods paid ₹1.20 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.46% at the ₹263.70 close on 4 November 2026. The last was a dividend of ₹0.60 a share, ex-date 5 August 2026.

ADF Foods dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. ADF Foods Ltd paid out 15% of its profit as dividends in FY26, and it paid a dividend in 10 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 30 July 2026, ADF Foods' management guided: FY27 consolidated revenue goal is upwards of ₹900 crore, with management cautiously optimistic.

“Our order book is the strongest it has ever been, so the challenge is purely about shipping it out.”Bimal Thakkur, on the call for April to June 2026

What management guided

• FY27 operating margin is expected to remain in the high teens excluding the tariff refund; reiterated under Q&A as the goal.
• Freight increases are expected to be passed through at close to 75.0% in the US and across more than 65.0%-70.0% of total business.
• Q2 should receive carryover shipments, although Q2 orders could move into Q3 if the vessel and container disruption persists.
• Surat is expected to reach about 30.0% capacity utilization and contribute ₹40-50 crore in FY27 by fiscal year-end.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 30 July 2026.

What is changing at ADF Foods, from the latest results and calls: surat frozen-food ramp, branded retail expansion and ashoka and frozen-product mix.

• Surat frozen-food ramp. Commercial deliveries have begun, with management aiming for fiscal-year utilization and revenue from Surat while Phase 2 adds another product line. ⚠ estimate
• Branded retail expansion. Truly Indian has expanded across United States retail stores, with existing-store orders cited as a source of growth. ⚠ estimate
• Ashoka and frozen-product mix. Ashoka growth and frozen-food mix can support revenue and margin once freight pass-through is established. ⚠ estimate
• Export-clearance and Europe expansion. Faster export clearances and an Ireland structure may improve shipment handling and open incremental European distribution. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown.

Our read after the latest results, written 22 August 2026.

Management said the order book was at its highest level, with shipment conversion as the constraint.

✓ fact

Our read after the latest results, written 22 August 2026.

The thesis fails if shipment conversion remains constrained and Surat does not progress toward management's fiscal-year utilization and revenue goals while working-capital absorption continues to outpace cash generation.

Each change stops working if

• Surat frozen-food ramp: Shipment shortages persist or Surat misses the fiscal-year utilization and revenue goals.
• Branded retail expansion: Repeat orders do not convert into rising revenue per store and marketing spending remains elevated.
• Ashoka and frozen-product mix: Freight pass-through falls short and recurring margin remains below management’s high-teen objective.

The main risks

• Shipment conversion and freight: Vessel and container shortages prevented shipment of ready goods, while freight pressure remains only partly passed through. ✓ fact
• Management credibility: Tariff commentary, Surat revenue potential and the full-ramp date have changed across recent calls. ✓ fact
• Working-capital absorption: Cash conversion is below reported profit as inventory, receivables and capital spending absorb operating cash. ✓ fact
• : Retail expansion can build brand value, but the business remains in an build-out phase and store productivity is undisclosed. ✓ fact

Our read after the latest results, written 22 August 2026.

When ADF Foods reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Q2 shipment conversion: monitor whether carryover orders are shipped or move into Q3, given that 30.0% of June-ready goods were blocked by vessel and container shortages.

ADF Foods is not on any of our India lists this week.

ADF Foods Ltd earned ₹17.0 Cr of net profit in the Jun 2026 quarter, +13.3% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹90.0 Cr. Over 10 years profit has grown 29.1% a year on average. That is 10.2% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹15.0 Cr.

For the full year, FY26 profit was ₹90.0 Cr (+30.4% on the year before).

Why profit moved: revenue changed +25.6% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +30.4% and revenue +20.1%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

ADF Foods Ltd reported ₹167 Cr of revenue in the Jun 2026 quarter, +25.6% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 12.5% a year on average. The last full year, FY26, came in at ₹683 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. The capex inflection point applies because Surat is no longer a proposal: commercial deliveries have started and the next product line is planned for the current fiscal year. The payoff depends on product acceptance, repeat orders and shipment availability, not simply installed capacity.

The last four reported quarters add to ₹718 Cr.

FY26 revenue was ₹683 Cr, +15.8% on the year before.

Recent pace: the last four quarters grew +20.1% on average, against 12.5% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +19.7%, against +16.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +30.0%, against +11.7% a year (accelerating).

ADF Foods Ltd's operating margin was 18.0% in the Jun 2026 quarter, about the same as the same quarter a year ago. Across 13 years it has been between 8.0% and 20.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. The geographic TAM expansion model applies through mainstream retail placements and repeat orders. The missing disclosure is store-level sales productivity, so the store footprint is a leading indicator rather than proof of a fully scaled earnings stream.

In the latest quarter it moved +0.0 percentage points on the same quarter a year ago.

Why the margin moved: operating margin changed +0.0 percentage points on the year while gross margin changed +3.0 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 71% of ADF Foods Ltd's reported profit came in as cash from its operations, so most of the profit is real cash. In FY26 it brought in ₹58.0 Cr of operating cash against ₹90.0 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹101 Cr of spending on assets, free cash was −₹43.0 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 71% of profit came in as cash: the cash cycle got 23 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives.

What to look at next: less of the profit turns into cash than it should, and the cash cycle is 23 days longer. The next section looks at where the cash is stuck.

ADF Foods Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 162 days in FY26, up from 139 days in FY21. It spent ₹158 Cr on assets over the last 3 years. Customers take 77 days to pay, and stock sits for 205 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹683 Cr, each day of that cycle ties up about ₹1.9 Cr, so roughly ₹303 Cr is tied up in the business at any time.

FY26: customers took 77 days to pay and stock sat for 205 days, about 6.7 months of sales sitting as stock, for a full cycle of 162 days, longer than FY21's 139.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 205 days. Customers pay about 77 days after that. Suppliers are paid at 120 days. Together that makes the 162-day cycle.

Spending on assets: ₹158 Cr over the last 3 years, against ₹55.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹27.0 Cr (FY26): assets paid for that are not earning yet.

In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit.

ADF Foods Ltd's P/E is 30.0×, in the middle of its own history: higher than 38% of past readings. Its usual P/E (the middle reading) is 31.9×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why this happened. The value-chain climb is supported by management’s description of Ashoka growth and favorable product mix. It fails if freight costs cannot be passed through or if the tariff-related margin support is mistaken for recurring operating leverage.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹8.37.