Sector Alpha Week of 2026-09-11
Not SEBI Registered !! Not Investment advice !!
Sector Alpha — machine-written from the numbers · Data as of 2026-09-11

Tasty Bite Eatables Ltd

TASTYBITE
FMCG - Contract Mfg

Tasty Bite Eatables Ltd's earnings have outrun its stock. EPS grew +37.8% in a year against a +9.9% price move.

The sharpest disagreement: annual EPS moved +37.8% against a +9.9% price move — the market has not yet caught up with the delivery.

The price is in a confirmed uptrend (8 weeks in) while the P/E sits at the 44th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +7.9% year on year, and 160% of the last 3 years' profit arrived as cash. What settles it: whether the price catches up with earnings that have already moved.

Stage
Mixed
partial read
Price
₹10,245
+9.9% 1Y
P/E
72.6×
44th pctile
of its own 11-year range
Revenue (Jun 26)
₹156 Cr
+28.6% YoY
Profit (Jun 26)
₹8.8 Cr
+7.9% YoY
Operating margin
9.5%
−3.5 pp YoY
ROCE
14%
FY26
Cash conversion
160%
of profit, last 3 FY
Withheld from this page: Part of this page is deliberately not drawn: its two data sources disagree by up to 5.0% on reported income across 14 comparable periods, so nothing from the second source is placed here — the quarterly PEG curve, the quarterly return curves, the annual return-on-invested-capital overlay, the total-debt and debt-to-equity series and the F-score and the return-on-invested-capital reading are absent for that reason. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data. The quarterly history also begins where the primary source begins: 6 earlier quarters the second source carries are not spliced in front of it. Extending a reported profit series is stricter than showing a ratio chart — it needs a source that has been checked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Tasty Bite Eatables Ltd trades at ₹10,245, in a confirmed uptrend and 8 weeks into that stage. That is +18.2% against its own 200-day average. It sits at 100% of a 52-week range of ₹6,705 to ₹10,245. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks.

Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹10,245 it trades +18.2% versus its 200-day average and sits at 100% of its 52-week range (₹6,705–₹10,245).

Sep 26: ₹10,245 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 3-year window.
+18.2% versus the 200-day line, week 8 of stage 2
Price50-day avg200-day avg
S2S4S4S4₹18,234₹15,138₹12,042₹8,946₹5,851₹10,245₹8,670Sep 23Jun 24Mar 25Jan 26Sep 26
S2S4S4S4₹18,234₹15,138₹12,042₹8,946₹5,851₹10,245₹8,670Sep 23Mar 25Sep 26
Beating or trailing, week by week since 2016 Each cell is one week from 2016 to now (555 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Mar 16Sep 26

Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +497% while the NIFTY 500 moved +264% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 10 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

02 · Story check

Story check

Tasty Bite Eatables Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: EARLY_RECOVERY. Still open: Operating margin failing to sustain above 10.5% over the next two quarters accompanied by domestic revenue growth decelerating below 10% year-on-year.

NOT YET CHECKED

Our read, 22 August 2026. Tasty Bite presents a normalized valuation setup where trailing price-to-earnings of 71.4 contracts to 57.3 on mid-cycle operating margins of 12.7%, backed by balance sheet deleveraging from ₹138 Cr debt to ₹42 Cr.

From the numbers. Tasty Bite is situated at an early recovery phase where revenue has inflected positive (+28.6% in Q1 FY27) while operating margin at 9.49% remains depressed relative to the 10.5-year mid-cycle level of 12.7%. Trailing…

From the price. Price stage 2, week 8 — above its 200-day line, relative strength rising.

From the research. Tasty Bite presents a normalized valuation setup where trailing price-to-earnings of 71.4 contracts to 57.3 on mid-cycle operating margins of 12.7%, backed by balance sheet deleveraging from ₹138 Cr debt to ₹42 Cr.

🚨 Where they disagree. Tasty Bite is situated at an early recovery phase where revenue has inflected positive (+28.6% in Q1 FY27) while operating margin at 9.49% remains depressed relative to the 10.5-year mid-cycle level of 12.7%. Trailing price-to-earnings of 71.4 reflects trough earnings rather than structural overvaluation. On normalized operating profitability, the multiple adjusts to 57.3, placing the stock in the 12th percentile of its historical valuation curve.

What is proven. Tasty Bite presents a normalized valuation setup where trailing price-to-earnings of 71.4 contracts to 57.3 on mid-cycle operating margins of 12.7%, backed by balance sheet deleveraging from ₹138 Cr debt to ₹42 Cr.

What is not proven yet. Operating margin failing to sustain above 10.5% over the next two quarters accompanied by domestic revenue growth decelerating below 10% year-on-year.

🚨 What would change our mind. Operating margin failing to sustain above 10.5% over the next two quarters accompanied by domestic revenue growth decelerating below 10% year-on-year.

🚨 Layer 1 read, 22 August 2026 — DROP. Margins sit at a ten-year low with room to recover — but when volume returned, costs rose faster and margins fell. Tasty Bite's revenue has been flat for three years at Rs540-554 crore, and its operating margin of 9.49% sits at the 19th percentile of a 10.5-year range, so a return to the 12.7% mid-cycle would lift earnings a quarter with no growth at all. The problem is the test case: in Jun 2026 revenue jumped 28.6% and the margin went DOWN 3.46 points, of which only 1.92 points was input cost — the rest was operating costs growing faster than a 28.6% sales increase, leaving profit up just 7.9%. That is the exact opposite of the operating leverage the thesis needs, and with more than 40% of pre-tax profit coming from non-operating income and no earnings call anywhere in the record to explain any of it…

What would change Layer 1’s mind. Operating margin back above 12% in a quarter where revenue also grows double digits year on year — that single observation would show the volume-to-margin link the Jun 2026 quarter broke, and would convert the margin-normalization case from arithmetic into evidence. This sharpens the timeline's own falsification (it names margin failing to hold above 10.5% over two quarters) by requiring the margin and the volume to move TOGETHER, since the whole point of my finding is that this quarter they…

The test written in advance. Operating margin failing to sustain above 10.5% over the next two quarters accompanied by domestic revenue growth decelerating below 10% year-on-year. — the thesis as written as stated by the next result.

What the company does. Operating margins at 9.5% sit at the 19th percentile of 10.5-year history, depressing trailing net profit to ₹35.96 Cr and making the valuation appear elevated. Cash generation has converted 1.60x operating cash flow relative to net profit over the past three fiscal years, retiring ₹96 Cr of borrowings. The business is attempting to scale its domestic brand Cheffin via quick commerce to offset export volume volatility from its US Mars affiliate channel.

The dials — and the exact level that would change the read
DialNowWasWhy it mattersWatch line
Domestic Brand Expansion via Cheffinin playScaling the Cheffin product portfolio across domestic quick commerce to diversify away from export contract manufacturing.Quick-commerce customer acquisition costs escalate or shelf velocity fails to support repeat inventory orders.
Operating Margin Mean-Reversionin playNormalization of operating margins from 9.5% toward the 10-year median of 12.7% as volume throughput improves.Raw agricultural commodities such as tomatoes, spices, and pulses experience price increases exceeding 20% without packaging price pass-through.
Balance Sheet Deleveraging and Interest…in playDeleveraging from ₹138 Cr debt in FY22 to ₹42 Cr in FY26 lowering quarterly finance charges to under ₹1 Cr.Working capital bloat forces a draw on short-term credit facilities.
Parentage Support and Global Supply…in playMars affiliate integration providing baseline export volume security across North American ethnic grocery channels.Parent entity relocates recipe manufacturing to alternative geographic manufacturing hubs.
Everything further down this page is evidence for or against these.
the numbers
EARLY_RECOVERY
the price
stage 2, above the 200-day line
the why
WATCH_VALUE
FY26-Q2FY27-Q1

🚨 What the surface reading misses. The surface reading is: Trailing price-to-earnings multiple of 71.4 suggests the stock is richly valued at the 40th percentile of its historical curve. The research reads it further: Operating margins are depressed at 9.5% (19th percentile of 10.5-year history) due to export volume de-growth and fixed cost under-absorption. Normalizing to mid-cycle margin of 12.7% lifts earnings per share from ₹140.14 to ₹176.19, shifting the multiple into the 12th percentile.

🚨 What the surface reading misses. The surface reading is: Operating margin of 9.49% indicates weak profitability and impaired unit economics. The research reads it further: The compressed margin reflects operating deleverage from prior quarters of export contraction and lag in passing on agricultural raw material costs. It represents a cyclical trough rather than a broken operating model.

1 · Operating leverageQUIET
2 · Value-added mixQUIET
3 · Management changeQUIET
4 · Paying down debtQUIET
5 · Regulatory approvalQUIET
6 · Order-book winsQUIET
7 · ConsolidationQUIET
8 · Demerger or value unlockQUIET
9 · BuybackQUIET
10 · New geographiesBUILDING
11 · Selling more to existing customersQUIET
12 · New product launchQUIET
13 · Mandatory normsQUIET
14 · A bigger market to sell intoQUIET
15 · Market-share gainsQUIET
16 · Asset qualityQUIET

Lever 10 · New geographies — BUILDING. Scaling the Cheffin product portfolio across domestic quick commerce to diversify away from export contract manufacturing. What proves it keeps working: Domestic Brand Expansion via Cheffin. It stops working if Quick-commerce customer acquisition costs escalate or shelf velocity fails to support repeat inventory orders.

Sources: our stock research file (22 August 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.

The whole page in one table — every row jumps to its section
SectionWhere it is nowVs a year agoThe one thing to watch nextRead
Capexsee the sectionDomestic Brand Expansion via Cheffin
Margin9.49%Operating Margin Mean-Reversion
Debtsee the sectionBalance Sheet Deleveraging and Interest Elimination
Revenue₹118 CrParentage Support and Global Supply Integration
03 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Tasty Bite Eatables Ltd reported ₹156 Cr of revenue in the Jun 26 quarter, +28.6% year on year. Over 10 years it has compounded at 10.8% a year. The last full year, FY26, came in at ₹549 Cr. The last four reported quarters add to ₹583 Cr.

Why this happened. Promoter holding of 74.23% by Mars Food affiliate entity secures global supply chain standards, food safety certifications, and preferred procurement status for Indian recipe preparations across international retail chains.

FY26 revenue came in at ₹549 Cr (−0.9% on the year), capping 10 years at 10.8% compound. The latest quarter (Jun 26) printed ₹156 Cr, +28.6% year on year.

FY26 revenue ₹549 Cr (−0.9% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
10.8% a year over 10 years
RevenueYoY growth
59832%44921%2999.5%150−1.6%0−13%₹ Cr%₹549−0.9%FY16FY21FY26
59832%44921%2999.5%150−1.6%0−13%₹ Cr%₹549−0.9%FY16FY21FY26
Jun 26: ₹156 Cr (+28.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Revenue (quarterly)YoY growth
19349%14524%96−1.3%48−26%0−51%₹ Cr%₹15628.6%Sep 23Dec 24Jun 26
19349%14524%96−1.3%48−26%0−51%₹ Cr%₹15628.6%Sep 23Dec 24Jun 26

Pace check: the last four quarters averaged +0.1% growth against the decade's 10.8% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew −1.2% over the last 4 quarters against +11.2%/yr over the last 8 — rolling over; TTM profit −4.1% vs +47.8%/yr — rolling over.

FY26-Q4. revenue ₹118 Cr and profit ₹6 Cr as reported.

FY27-Q1. revenue ₹156 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Watch next
MetricParentage Support and Global Supply Integration
ThresholdParent entity relocates recipe manufacturing to alternative geographic manufacturing hubs.
Which resultthe next result
04 · Operating margin

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

Tasty Bite Eatables Ltd's operating margin is 9.5% in the Jun 26 quarter, −3.5 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0% to 17.0%. The current quarter sits inside that band.

Why this happened. Current operating profitability of 9.49% reflects under-absorption of fixed manufacturing overheads and elevated packaging costs. As top-line volume recovered by 28.6% year-on-year in Q1 FY27 to ₹155.75 Cr, fixed asset turnover gains provide operating leverage to lift margins toward through-cycle levels of 12.7%.

The latest quarter's operating margin is 9.5%, −3.5 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–17.0%.

🚨 Why the margin moved: operating margin went −3.5 pp year on year while gross margin went −1.9 pp — the loss came mostly below the gross line: operating leverage, with costs spread over a bigger revenue base.

FY26: 11.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 13-year window.
within a 8.0–17.0% band over 13 years
operating marginYoY change (pp)
18%6.9%15%3.7%13%0.5%9.9%−2.7%7.3%−5.9%%%11%2%FY14FY20FY26
18%6.9%15%3.7%13%0.5%9.9%−2.7%7.3%−5.9%%%11%2%FY14FY20FY26
Jun 26: 9.5% operating margin (−3.5 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
16%14%12%4.7%8.4%−4.3%4.6%−13%0.9%−22%%%9.5%−3.5%Sep 23Dec 24Jun 26
16%14%12%4.7%8.4%−4.3%4.6%−13%0.9%−22%%%9.5%−3.5%Sep 23Dec 24Jun 26

FY26-Q4. revenue ₹118 Cr and profit ₹6 Cr as reported.

FY27-Q1. revenue ₹156 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Watch next
MetricOperating Margin Mean-Reversion
ThresholdRaw agricultural commodities such as tomatoes, spices, and pulses experience price increases exceeding 20% without packaging price pass-through.
Which resultthe next result
05 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Tasty Bite Eatables Ltd earned ₹8.8 Cr of net profit in the Jun 26 quarter, +7.9% year on year. Full-year FY26 profit was ₹35.0 Cr. The 10-year compound rate is 8.1%. That is 5.7% of the quarter's revenue. The same quarter a year earlier earned ₹8.2 Cr. 1 of the last 12 reported quarters were loss-making.

Jun 26 profit was ₹8.8 Cr, +7.9% year on year. On the full year, FY26 printed ₹35.0 Cr (+34.6%), and the 10-year compound rate is 8.1%.

FY26 profit ₹35.0 Cr (+34.6% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 11-year window. A bar is red when it is lower than the year before.
8.1% a year over 10 years
Net profitYoY growth
45222%34142%2363%11−17%0−96%₹ Cr%₹3534.6%FY16FY21FY26
45222%34142%2363%11−17%0−96%₹ Cr%₹3534.6%FY16FY21FY26
Jun 26: ₹8.8 Cr (+7.9% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
Net profit (quarterly)YoY growth
19164%1388%713%1−63%−5−138%₹ Cr%₹97.9%Sep 23Dec 24Jun 26
19164%1388%713%1−63%−5−138%₹ Cr%₹97.9%Sep 23Dec 24Jun 26

Why profit moved: revenue contributed +28.6% and the margin −3.5 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit −6.2% vs revenue +0.1%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

FY26-Q4. revenue ₹118 Cr and profit ₹6 Cr as reported.

FY27-Q1. revenue ₹156 Cr and profit ₹9 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

06 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years 160% of Tasty Bite Eatables Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹59.0 Cr of operating cash against ₹35.0 Cr of profit. After ₹14.0 Cr of capital spending, ₹45.0 Cr was left as free cash.

FY26: operating cash of ₹59.0 Cr against reported profit of ₹35.0 Cr, leaving free cash of ₹45.0 Cr after ₹14.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 160% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹59.0 Cr vs profit ₹35.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 11-year window, annual resolution.
160% of 3-year profit arrived as cash
Operating cashNet profitFree cash
7837−4−44−85₹ Cr₹59₹35₹45FY16FY21FY26
7837−4−44−85₹ Cr₹59₹35₹45FY16FY21FY26
FY26: CFO = 169% of profit (three-year rate 160%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash; outlier years shown pinned.
Conversion100%
320%249%178%106%35%%169%FY16FY21FY26
320%249%178%106%35%%169%FY16FY21FY26

Why conversion sits at 160%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

07 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Tasty Bite Eatables Ltd's cash conversion cycle runs 90 days in FY26, up from 82 days in FY21. Capital spending ran ₹50.0 Cr over the last 3 years. At FY26 sales of ₹549 Cr each day of that cycle holds about ₹1.5 Cr, so roughly ₹135 Cr sits inside the business at any moment.

Why this happened. Tasty Bite is executing a strategy to increase domestic retail revenue contribution through its Cheffin brand. The brand targets urban ready-to-eat and cooking sauces segments, leveraging rapid delivery networks. This shift allows the company to capture direct retail gross margins above 25% compared to contract manufacturing margins.

FY26: debtors at 47 days, inventory at 115 days — roughly 3.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 90 days, looser than FY21's 82.

The full loop: cash goes out to suppliers and production on day 0; stock waits 115 days to sell; customers pay about 47 days after that; and suppliers themselves are paid at 72 days — netting out to the 90-day cycle.

In money terms: at FY26 sales of ₹549 Cr, each day of the cycle holds about ₹1.5 Cr — so the 90-day loop keeps roughly ₹135 Cr sitting inside the business at any moment.

FY26: a 90-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 13-year window.
+8 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
124915824−9days90d115d47d72dFY14FY17FY20FY23FY26
124915824−9days90d115d47d72dFY14FY20FY26

On the investment side: capital spending of ₹50.0 Cr over the last 3 fiscal years against ₹91.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹14.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹14.0 Cr, work-in-progress ₹14.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
1239262310₹ Cr₹14₹14FY16FY18FY21FY23FY26
1239262310₹ Cr₹14₹14FY16FY21FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

Watch next
MetricDomestic Brand Expansion via Cheffin
ThresholdQuick-commerce customer acquisition costs escalate or shelf velocity fails to support repeat inventory orders.
Which resultthe next result
08 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.

Tasty Bite Eatables Ltd earns a ROCE of 14% in FY26. That is up from a trough of 6% in FY22. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 6.4% net margin on 1.16× asset turns.

FY26 ROCE is 14%, recovered from a FY22 trough of 6% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 6.4% net margin × 1.16× asset turns × 1.39× balance-sheet leverage ≈ 10.3% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

FY26: ROCE 14% Return on capital employed by fiscal year, % (line). 13-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY22's 6%
ROCEWACC
34%27%19%11%3.9%%14%FY14FY17FY20FY23FY26
34%27%19%11%3.9%%14%FY14FY20FY26

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 5.0% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

09 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Tasty Bite Eatables Ltd carries ₹42.0 Cr of borrowings against ₹342 Cr of equity in FY26, a debt-to-equity of 0.12. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹175 Cr to ₹42.0 Cr. Capital spending ran ₹50.0 Cr across the last 3 of those years.

Why this happened. Consistent cash conversion of 1.60x operating cash flow to net profit over three fiscal years enabled ₹96 Cr of net debt repayment. Quarterly interest expense dropped from ₹1.88 Cr in Dec 2024 to ₹0.97 Cr in Jun 2026, delivering direct pre-tax savings to the bottom line.

FY26: borrowings of ₹42.0 Cr against equity of ₹342 Cr — a debt-to-equity of 0.12. Operating profit covers the interest bill 10×. Over 5 years borrowings went from ₹175 Cr to ₹42.0 Cr while capital spending ran ₹50.0 Cr in just the last 3 — the build-out is being paid for out of cash, not debt.

FY26: borrowings ₹42.0 Cr at 0.12× equity Borrowings by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 13-year window. Quarterly balance-sheet history is not held for India — annual is the honest resolution.
debt is falling while the business grows
BorrowingsDebt-to-equity
1891.4×1421.1×950.7×470.4×00.0×₹ Cr×₹420.12×FY14FY17FY20FY23FY26
1891.4×1421.1×950.7×470.4×00.0×₹ Cr×₹420.12×FY14FY20FY26

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 5.0% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Watch next
MetricBalance Sheet Deleveraging and Interest Elimination
ThresholdWorking capital bloat forces a draw on short-term credit facilities.
Which resultthe next result
10 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Tasty Bite Eatables Ltd moved a full percentage point over the last two years — the register is quiet. Foreign institutions moved −0.4 points over the same window, to 3.7%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Domestic institutions: −0.5 points over 8 quarters to 0.0%; Foreign institutions: −0.4 points over 8 quarters to 3.7%; Promoters: +0.0 points over 8 quarters to 74.2%.

Fiscal-year ends: promoters +0.0 pts from Mar 24 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 3 year-ends held.
PromotersForeign inst.Domestic inst.Public
80%59%37%16%−5.4%%74.2%3.7%0.5%21.6%Mar 24Mar 25Mar 26
80%59%37%16%−5.4%%74.2%3.7%0.5%21.6%Mar 24Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 13 quarters.
PromotersForeign inst.Domestic inst.Public
80%59%37%16%−5.9%%74.2%3.7%0%22.0%Jun 23Dec 24Jun 26
80%59%37%16%−5.9%%74.2%3.7%0%22.0%Jun 23Dec 24Jun 26
11 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Tasty Bite Eatables Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.

The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

12 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Tasty Bite Eatables Ltd trades at 72.6× P/E, mid-range by its own standards (44th percentile). Its long-run median P/E is 76.2×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 72.6× is mid-range by its own standards (44th percentile), against a long-run median of 76.2× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 72.6× vs a 76.2× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 10.5-year window; loss-period spikes above 229× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (44th percentile)
P/EMedianEPS (TTM) (quarterly)
244.7×₹203186.2×₹152127.8×₹10169.3×₹50.610.8×₹0.0×72.40×₹142Mar 16Oct 18Jul 21Mar 24Sep 26
244.7×₹203186.2×₹152127.8×₹10169.3×₹50.610.8×₹0.0×72.40×₹142Mar 16Jul 21Sep 26
P/E
72.6×
44th percentile of 11y

Why the multiple sits where it does: over the past year annual EPS moved +37.8% against a +9.9% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 5y, of the −11.2%/yr price move, ~−4.2%/yr came from earnings growth and ~−7.0 pp from the multiple (compressing); over 10y, of the +12.1%/yr price move, ~+6.7%/yr came from earnings growth and ~+5.4 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources disagree by up to 5.0% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

13 · Stage: Mixed

Stage: Mixed Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Tasty Bite Eatables Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE holding at 14.0% — the per-curve reads carry the story. The read is built from 8 quarters across 4 curves, on partial evidence.

Growth, year by year: revenue −0.9% in FY26, profit +34.6% Year-over-year growth per fiscal year, %: revenue (left axis); net profit and EPS (right axis — profit growth swings far wider). Zero line drawn.
Revenue YoYProfit YoYEPS YoY
32%222%21%142%9.5%63%−1.6%−17%−13%−96%%%−0.9%34.6%FY16FY21FY26
32%222%21%142%9.5%63%−1.6%−17%−13%−96%%%−0.9%34.6%FY16FY21FY26
Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from · revenue rolling over, profit rolling over
RevenueProfitEPS
28%143%19%87%9.7%30%0.7%−26%−8.3%−82%%%−1.2%−4.1%−4.1%Sep 23Dec 24Jun 26
28%143%19%87%9.7%30%0.7%−26%−8.3%−82%%%−1.2%−4.1%−4.1%Sep 23Dec 24Jun 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
17%16%14%12%11%%14%FY23FY24FY26
17%16%14%12%11%%14%FY23FY24FY26
Revenue growth
Falling
latest −1.2% · span −5.8% to +25.1%
Profit growth
Falling
latest −4.1% · span −66.9% to +127.6%
EPS growth
Falling
latest −4.1% · span −66.7% to +127.6%
ROCE
Stuck low
latest 14.0% · span 11.0%–17.0%

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue−0.9%+4.9%+7.4%+10.8%
Profit+34.6%+5.3%−2.1%+8.1%
EPS+37.8%+5.3%−2.1%+8.2%
Share price+9.9%−14.5%−11.2%+12.1%
Revenue YoY (Jun 26)
+28.6%
latest quarter vs a year ago
Profit YoY (Jun 26)
+7.9%
latest quarter vs a year ago
Revenue 10y
10.8%
long-run compound pace
14 · 4-Factor Sector Score

4-Factor Sector Score

54.5/100 — rank 3 of 4 in FMCG - Contract Mfg · 79% evidence confidence

Tasty Bite Eatables Ltd scores 54.5 out of 100 against the 4 companies it is compared with in FMCG - Contract Mfg, ranking 3. Price leads the evidence: RS versus the benchmark is 26.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.

The four contributions add to the total exactly: 10.7 + 12.3 + 11.5 + 20 = 54.5. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

15 · Related companies · FMCG - Contract Mfg
CompanyScorePrice stageGrowth & earnings/35Capital efficiency/25Valuation/20Relative strength/20
1ADF Foods LtdADFFOODS 74.4/100Favorable setup97% evidence ASLEEP 29.2/35 Revenue 19.7% · PAT 30% · OPM change 0 pp 100% evidence 19.3/25 ROCE 21.8% · OPM 18% 100% evidence 14.3/20 P/E 30.6× · PEG 0.98 85% evidence 11.6/20 RS sector 2.3% · RS bench 16.1% · 1Y 12.6%5 of 12 weeks ahead 100% evidence
Exact sum: 29.2 + 19.3 + 14.3 + 11.6 = 74.4 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence.
2Hindustan Foods LtdHNDFDS 70.3/100Favorable setup97% evidence BREAKING OUT 24.7/35 Revenue 17.6% · PAT 37.1% · OPM change 0 pp 100% evidence 10.0/25 ROCE 14.1% · OPM 8% 100% evidence 17.5/20 P/E 46.3× · PEG 0.79 85% evidence 18.1/20 RS sector 2.9% · RS bench 18% · 1Y 14.8%10 of 12 weeks ahead 100% evidence
Exact sum: 24.7 + 10 + 17.5 + 18.1 = 70.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3Tasty Bite Eatables Ltdthis pageTASTYBITE 54.5/100Mixed-positive evidence79% evidence LEADER 10.7/35 Revenue -1.2% · PAT -4.1% · OPM change -3.5 pp 95% evidence 12.3/25 ROCE 14% · OPM 9.5% 76% evidence 11.5/20 P/E 72.6× · PEG — 35% evidence 20.0/20 RS sector 10.5% · RS bench 26.5% · 1Y 7%12 of 12 weeks ahead 100% evidence
Exact sum: 10.7 + 12.3 + 11.5 + 20 = 54.5 · Decision use: Price leads the evidence: RS versus the benchmark is 26.5%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
4Varun Beverages LtdVBL 49.4/100Mixed-negative evidence79% evidence ASLEEP 16.4/35 Revenue 14.5% · PAT 18.3% · OPM change 0 pp 95% evidence 20.1/25 ROCE 19.7% · OPM 28% 76% evidence 12.9/20 P/E 41.6× · PEG — 35% evidence 0.0/20 RS sector -21.3% · RS bench -9.5% · 1Y -11.3%3 of 12 weeks ahead 100% evidence
Exact sum: 16.4 + 20.1 + 12.9 + 0 = 49.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.

16 · Frequently asked questions

Frequently asked questions

What is Tasty Bite Eatables Ltd's share price today?

Tasty Bite Eatables Ltd trades at ₹10,245, +9.9% over the past year. The company is valued at ₹2,636 Cr. The stock sits at the very top of its 52-week range (₹6,705–₹10,245), +18.2% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 11 September 2026.

What were Tasty Bite Eatables Ltd's latest quarterly results?

Tasty Bite Eatables Ltd reported revenue of ₹156 Cr and net profit of ₹8.8 Cr for the Jun 26 quarter. Revenue rose 28.6% and profit rose 7.9% year on year. Earnings per share were ₹34.45. The operating margin was 9.5%, 3.5 pp lower than a year earlier. — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's revenue?

Tasty Bite Eatables Ltd reported revenue of ₹156 Cr in the Jun 26 quarter, +28.6% year on year. For the full FY26 fiscal year, revenue was ₹549 Cr (−0.9%). Over the last 10 years revenue compounded at 10.8% a year. — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's profit?

Tasty Bite Eatables Ltd earned ₹8.8 Cr of net profit in the Jun 26 quarter, +7.9% year on year. Full-year FY26 profit was ₹35.0 Cr. The operating margin ran 9.5% in the latest quarter. — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's market cap?

Tasty Bite Eatables Ltd's market capitalisation is ₹2,636 Cr at a share price of ₹10,245. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's P/E ratio?

Tasty Bite Eatables Ltd trades at a P/E of 72.6×, at the 44th percentile of its own 11-year range, against a long-run median of 76.2×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.

Does Tasty Bite Eatables Ltd pay a dividend?

Yes — Tasty Bite Eatables Ltd's dividend payout was 1% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.

Is Tasty Bite Eatables Ltd overvalued?

On its own history, Tasty Bite Eatables Ltd looks mid-range: its P/E of 72.6× sits at the 44th percentile of its 11-year range (long-run median 76.2×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.

Is Tasty Bite Eatables Ltd growing?

Yes — Tasty Bite Eatables Ltd is growing: latest-quarter revenue +28.6% year on year, profit +7.9%, and the margin −3.5 pp at 9.5%. The 10-year compound rates are 10.8% (revenue) and 8.1% (profit). The earnings engine currently reads: improving — as of 11 September 2026.

How is Tasty Bite Eatables Ltd performing?

Tasty Bite Eatables Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 28.6% and profit rose 7.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 11 September 2026.

What stage is Tasty Bite Eatables Ltd in?

Mixed — no clean majority across the growth curves, ROCE holding at 14.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth −1.2% latest, profit growth −4.1% latest, eps growth −4.1% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.

Is Tasty Bite Eatables Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading +18.2% versus its 200-day average and at the very top of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.

Is Tasty Bite Eatables Ltd beating the market?

On recent form, yes — Tasty Bite Eatables Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +497% against the NIFTY 500's +264% — ahead of the index over the full window. — as of 11 September 2026.

Will Tasty Bite Eatables Ltd's share price go up?

This page publishes no price forecast for Tasty Bite Eatables Ltd. What it measures instead: the share price is ₹10,245, the price is in a confirmed uptrend 8 weeks in. Its P/E of 72.6× sits at the 44th percentile of its own 11-year range. — as of 11 September 2026.

Who owns Tasty Bite Eatables Ltd?

Promoters hold 74.2% of Tasty Bite Eatables Ltd, foreign institutions 3.7%, domestic institutions 0.0% and the public 22.0% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.

Does Tasty Bite Eatables Ltd have too much debt?

No — Tasty Bite Eatables Ltd's debt-to-equity is 0.12, and operating profit covers the interest bill 10×. FY26 borrowings were ₹42.0 Cr against equity of ₹342 Cr. The returns on this page are earned, not borrowed — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's capex?

Tasty Bite Eatables Ltd spent ₹50.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹14.0 Cr, with ₹14.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.

What is Tasty Bite Eatables Ltd's cash flow?

Tasty Bite Eatables Ltd generated ₹59.0 Cr of operating cash flow in FY26 and ₹45.0 Cr of free cash flow after ₹14.0 Cr of capital spending. Reported profit that year was ₹35.0 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.

Is Tasty Bite Eatables Ltd's profit real cash?

Yes — over the last 3 fiscal years, 160% of Tasty Bite Eatables Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹59.0 Cr against reported profit of ₹35.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 11 September 2026.

Where is Tasty Bite Eatables Ltd in its business cycle?

Tasty Bite Eatables Ltd's FY26 operating margin was 11.0%, against a 13-year band of 8.0%–17.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 9.5%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.

What could break the Tasty Bite Eatables Ltd story?

The sharpest disagreement: annual EPS moved +37.8% against a +9.9% price move — the market has not yet caught up with the delivery. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.

Is Tasty Bite Eatables Ltd a stock worth studying right now?

This is not investment advice. The machine read: Tasty Bite Eatables Ltd's earnings have outrun its stock. EPS grew +37.8% in a year against a +9.9% price move. The sharpest open question: whether the price catches up with earnings that have already moved. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.

Sector Alpha — machine-written from the numbers · Data as of 2026-09-11. Every chart on this page is drawn by deterministic code from the raw series — no forecasts, no price opinions, and nothing here is investment advice.

Not SEBI Registered !! Not Investment advice !!

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