Wardwizard Foods and Beverages Ltd (539132)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Wardwizard Foods' revenue was ₹17.0 Cr (+29.0% year on year, -57.9% on the previous quarter), and net profit ₹1.3 Cr (against a loss a year earlier); the operating margin was 16.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹17.0 | +29.0% | -57.9% |
| Operating profit | ₹2.8 | — | -39.3% |
| Net profit | ₹1.3 | from loss | -56.2% |
| EPS (₹) | 0.05 | from loss | -58.3% |
| Operating margin | 16.2% | — | — |
📢 Recent Corporate Announcements
Wardwizard Foods and Beverages released its Q1 FY27 investor presentation, reporting Revenue from Operations of ₹17.03 Cr and a Net Profit of ₹1.31 Cr (recovering from a net loss of ₹1.70 Cr in Q1 FY26). The company plans to scale daily Ready-to-Eat (RTE) and frozen food output at its Por facility from 5 TPD to 15 TPD in the next quarter. Additionally, it is setting up a dedicated 7,000 TPA condiments and sauces unit at Bhor, Pune, to cater to HORECA, retail, and export channels.
- Q1 FY27 Revenue from Operations stood at ₹17.03 Cr with an EBITDA of ₹3.39 Cr and Net Profit of ₹1.31 Cr
- Por Vadodara RTE/Frozen facility planned to scale output 3x from 5 TPD to 15 TPD next quarter
- Upcoming Bhor (Pune) facility adds 7,000 TPA capacity across 88,000 sq. ft for sauces and mayonnaise
- Export footprint targeted across 5+ global markets with expansion planned into Europe, CIS, and Africa
Wardwizard Foods and Beverages reported a 29.0% YoY increase in revenue from operations to ₹17.03 crore for Q1 FY27, with total income reaching ₹17.65 crore (up 32.2% YoY). EBITDA rose sharply to ₹3.39 crore, expanding the EBITDA margin to 19.90% compared to 2.78% in Q1 FY26. The company turned profitable with a PAT of ₹1.31 crore (7.69% PAT margin) against a net loss of ₹1.70 crore in Q1 FY26. Management reiterated its medium-term targets of a 25% revenue CAGR and a 12–15% EBITDA margin.
- Revenue from operations grew 29.0% YoY to ₹17.03 crore in Q1 FY27.
- EBITDA increased to ₹3.39 crore, with EBITDA margin expanding to 19.90% from 2.78% in Q1 FY26.
- Turned profitable with PAT of ₹1.31 crore versus a net loss of ₹1.70 crore in the year-ago period.
- Management targets medium-term revenue CAGR of 25% and an EBITDA margin band of 12–15%.
Wardwizard Foods and Beverages approved its standalone un-audited results for the quarter ended June 30, 2026, in a board meeting held on August 14, 2026. The company enters the new fiscal year following a turnaround in FY26, where revenue grew to Rs 238 Cr from Rs 93 Cr in FY25. While the company achieved a net profit of Rs 1 Cr in the trailing twelve months, operating margins remain thin at 3.3%. Investors are looking for consistency after the strong March 2026 quarter which saw a profit of Rs 2.99 Cr.
- Board meeting held on August 14, 2026, to approve results for the quarter ended June 30, 2026
- Company reported TTM revenue of Rs 238 Cr against a market capitalization of Rs 285 Cr
- Operating profit margin (OPM) stands at a narrow 3.3% on a TTM basis
- Inventory turnover ratio showed a significant 188% improvement in the previous fiscal year
- The company maintains a 7,000-tonne annual capacity for its Sauces & Mayo segment
Wardwizard Foods and Beverages Ltd approved its standalone un-audited financial results for the quarter ended June 30, 2026, in a board meeting held on August 14, 2026. The company enters this quarter following a recovery in FY26, where it posted a net profit of ₹1 cr against a ₹14 cr loss in FY25. With a current TTM revenue of ₹238 cr and a thin operating margin of 3.3%, the focus remains on whether the company can sustain the profitability seen in the March 2026 quarter (₹2.99 cr profit). The stock currently trades at a high P/E of 217.2, reflecting significant growth expectations.
- Board approved un-audited standalone financial results for the quarter ended June 30, 2026.
- The board meeting was conducted within a 40-minute window, starting at 2:20 PM and concluding at 3:00 PM.
- Company reported a TTM revenue of ₹238 cr prior to this quarterly release.
- Operating profit margin stands at a lean 3.3%, highlighting sensitivity to input cost volatility.
- Inventory turnover ratio showed a significant improvement of 188% in the preceding fiscal year.
Wardwizard Foods and Beverages Ltd has appointed M/s Arun Ratnawat & Associates as its Statutory Auditor effective August 10, 2026. This appointment fills a casual vacancy following the resignation of the previous auditor, M/s. Mahesh Udhwani & Associates, on May 14, 2026. The company currently operates with a TTM revenue of Rs 238 Cr and a thin net profit of Rs 1 Cr. This change is a procedural governance requirement under SEBI LODR regulations.
- Appointment of M/s Arun Ratnawat & Associates (FRN: 010664C) effective from August 10, 2026
- Previous auditor M/s. Mahesh Udhwani & Associates resigned effective May 14, 2026
- Company reported TTM revenue of Rs 238 Cr with a low operating profit margin of 3.3%
- The appointment was recommended by the Audit Committee and approved by the Board on August 10, 2026
Wardwizard Foods and Beverages Ltd has appointed M/s. Arun Ratnawat & Associates as Statutory Auditors effective August 10, 2026. This appointment fills a casual vacancy created by the resignation of the previous auditor, M/s. Mahesh Udhwani & Associates, who stepped down on May 14, 2026. The filing is a revised outcome of the board meeting held on August 10, 2026, intended to accurately reflect the terms of the appointment. For a company with a thin TTM PAT of Rs 1 Cr and a 3.3% operating margin, consistent audit oversight is essential for financial transparency.
- Appointment of M/s. Arun Ratnawat & Associates (FRN: 010664C) as Statutory Auditor effective August 10, 2026.
- Previous auditor M/s. Mahesh Udhwani & Associates resigned effective May 14, 2026.
- The board meeting for the appointment was held on August 10, 2026, between 1:30 P.M. and 2:30 P.M.
- The company is currently operating with a TTM revenue of Rs 238 Cr and a low net profit of Rs 1 Cr.
Wardwizard Foods and Beverages has scheduled a board meeting for August 14, 2026, to approve its standalone financial results for the quarter ended June 30, 2026. The company is coming off a high-growth year where FY26 revenue reached Rs 238 Cr compared to Rs 93 Cr in FY25. However, profitability remains thin with a TTM PAT of only Rs 1 Cr and an operating margin of 3.3%. Investors will be watching for margin expansion following recent capacity additions in the Sauces & Mayo segment (7,000 tonnes).
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results.
- Trading window for designated persons remains closed from July 1, 2026, to August 16, 2026.
- Company reported a significant revenue jump to Rs 238 Cr in FY26 from Rs 93 Cr in FY25.
- Operating profit margin (OPM) stands at a narrow 3.3% on a TTM basis.
- Current market capitalization is Rs 280 Cr with a high P/E ratio of 213.4.
Wardwizard Foods and Beverages Ltd has appointed M/s Arun Ratnawat & Associates as its new Statutory Auditor to fill a casual vacancy. This follows the resignation of the previous auditor, M/s. Mahesh Udhwani & Associates, which was effective from May 14, 2026. The new appointment is for a five-year term, starting August 10, 2026, subject to shareholder approval at the upcoming Annual General Meeting. The company currently operates with a TTM revenue of ₹238 Cr and a thin net profit of ₹1 Cr.
- Appointment of M/s Arun Ratnawat & Associates (FRN: 010664C) effective from August 10, 2026.
- Previous auditor M/s. Mahesh Udhwani & Associates resigned effective May 14, 2026.
- The appointment is for a first term of 5 consecutive years.
- Company reported a significant revenue jump to ₹238 Cr in FY26 from ₹93 Cr in FY25.
- Operating profit margin remains thin at 3.3% for the trailing twelve months.
Wardwizard Foods and Beverages Ltd has appointed M/s. Arun Ratnawat & Associates as Statutory Auditors to fill a casual vacancy. This follows the resignation of the previous auditor, M/s. Mahesh Udhwani & Associates, which was effective from May 14, 2026. The new appointment is for a five-year term, starting August 10, 2026, subject to shareholder approval at the next Annual General Meeting. The company currently operates with a TTM revenue of Rs 238 Cr and a thin net profit of Rs 1 Cr.
- Appointment of M/s. Arun Ratnawat & Associates (FRN: 010664C) as Statutory Auditors effective August 10, 2026.
- Fills a casual vacancy created by the resignation of M/s. Mahesh Udhwani & Associates on May 14, 2026.
- The appointment is for a first term of 5 consecutive years, pending shareholder approval.
- Company reported a TTM revenue of Rs 238 Cr with a low operating profit margin of 3.3%.
Financial Performance
Revenue Growth by Segment
Total income grew by 376.95% YoY, reaching INR 93.90 Cr (9,390.38 lakhs) in FY25 compared to INR 19.69 Cr (1,968.86 lakhs) in FY24. This growth was primarily driven by the expansion of the Frozen and Ready-to-Eat (RTE) segments and the strategic pivot toward international exports.
Geographic Revenue Split
The company operates across 11 Indian states and has expanded into international markets including the USA, UK, Canada, UAE, and Australia. While specific percentage splits are not disclosed, the company identifies exports as a primary driver for the 455% increase in net sales from operations.
Profitability Margins
The Net Profit Ratio improved from -1.97 in FY24 to -0.15 in FY25, reflecting a significant reduction in losses. The Operating Profit Ratio turned positive at 0.02 in FY25 from -0.57 in FY24, indicating that core operations are beginning to stabilize despite high expansion costs.
EBITDA Margin
The company reported a loss from operations before tax of INR 13.86 Cr in FY25, which is a 57% improvement over the INR 32.23 Cr loss in FY24. This indicates that while the company is still in a gestation phase for its new segments, the scale of operations is rapidly improving core profitability metrics.
Capital Expenditure
The company invested heavily in capacity building and distribution expansion, contributing to a rise in total expenses to INR 107.76 Cr in FY25 from INR 51.92 Cr in FY24. Specific planned CapEx for FY26 is not disclosed, but recent acquisitions of Yeppy Foods and Safpro Industries indicate an aggressive inorganic growth spend.
Credit Rating & Borrowing
The Debt Equity Ratio increased to 0.40:1 in FY25 from 0.30:1 in FY24, representing a 33.3% increase in leverage to fund expansion. Specific credit ratings and interest rate percentages were not disclosed in the provided documents.
Operational Drivers
Raw Materials
Key raw materials include spices, condiments, vegetables for RTE meals, and ingredients for sauces and mayonnaise. These materials are sourced to support a 7,000-tonne annual capacity for sauces and a 1,277-tonne capacity for frozen foods.
Import Sources
The company emphasizes sourcing fresh ingredients from local farmers in India to ensure authentic taste. International operations currently focus on finished product exports rather than raw material imports.
Key Suppliers
Not specifically disclosed by name, but the company maintains a network of local farmers and vendors to support its two manufacturing plants in Bhor and Por.
Capacity Expansion
Current installed capacity includes 1,277 Tonnes per year for the Frozen & RTE segment and 7,000 Tonnes per year for the Sauces & Mayo segment. The Por facility covers 88,000 sq mtr, providing significant room for future scaling.
Raw Material Costs
Total expenses rose 107.5% YoY to INR 107.76 Cr. Raw material costs are subject to volatility in commodity prices, which the company identifies as a primary challenge to maintaining its competitive pricing strategy.
Manufacturing Efficiency
The Inventory Turnover Ratio improved by 188% from 14.54 in FY24 to 41.88 in FY25, indicating much higher manufacturing and sales efficiency. The Trade Receivables Turnover Ratio also improved from 2.62 to 5.73.
Logistics & Distribution
Distribution is handled through a network of 50+ dealers for the Snack Buddy brand and partnerships with established retailers and online platforms across 11 states.
Strategic Growth
Expected Growth Rate
16.40%
Growth Strategy
Growth will be achieved through a 'strategic pivot' toward exports in high-value markets (USA, UK, Australia), diversifying the portfolio into plant-based and keto-friendly meals, and leveraging the 7,000-tonne capacity of recently acquired Safpro Industries. The company is also expanding its QSR footprint and digital D2C channels.
Products & Services
Ready-to-eat meals, frozen snacks, beverages (WOL), spices, condiments, tomato ketchup, mayonnaise (multiple variants like Garlic, Chipotle, Mayo), and QSR services.
Brand Portfolio
QuikShef, Snack Buddy, WOL (Water of Life).
New Products/Services
New launches include high-protein and keto-friendly customized meal recommendations and an expanded range of plant-based alternatives to capture the health-conscious consumer segment.
Market Expansion
Targeting deeper penetration in the USA, Canada, UK, UAE, and Australia. Domestically, the company is strengthening its distribution network across 11 states to reach more than the current 6,500+ stores.
Market Share & Ranking
Not disclosed, but the company identifies as a 'leading food business' in the Vadodara region with aspirations to become a global FMCG brand.
Strategic Alliances
Recent strategic acquisitions include Yeppy Foods and Safpro Industries Pvt Ltd to enhance market reach and production capabilities.
External Factors
Industry Trends
The Indian RTE market is growing at a CAGR of 16.40% (FY25-32), while the global market is expected to reach $515.80 billion by 2035. Trends are shifting toward health-conscious, sustainable, and convenient meal solutions.
Competitive Landscape
The company competes in a price-sensitive market against both domestic players and global FMCG brands, focusing on 'authentic Indian flavors' as a differentiator.
Competitive Moat
The moat is built on vertical integration (in-house manufacturing), which protects proprietary recipes, and high-standard certifications (USFDA, FSSC 22000) that act as entry barriers for international markets. These are sustainable due to the high cost and complexity of compliance.
Macro Economic Sensitivity
The business is highly sensitive to urban consumption trends and disposable income levels, as RTE and frozen foods are driven by busy lifestyles and urbanization.
Consumer Behavior
Shifting toward convenience, health-conscious options (keto, high-protein), and sustainable packaging, which the company is addressing through its new product development.
Geopolitical Risks
Global uncertainties and trade barriers are noted as challenges, particularly as the company expands its international footprint in five major global regions.
Regulatory & Governance
Industry Regulations
Operations are governed by FSSAI (India), USFDA (USA), and FSSC 22000 standards. Adherence to stringent food safety regulations is cited as a critical operational requirement.
Environmental Compliance
The company is exploring sustainable packaging and waste management to address the environmental impact of packaging waste, though specific costs are not disclosed.
Taxation Policy Impact
The company reported a tax expense of INR -17.51 lakhs in FY25 compared to INR 81.23 lakhs in FY24.
Legal Contingencies
No specific pending court cases or values were disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Fluctuations in raw material prices and potential disruptions in the global supply chain for exports represent the primary business uncertainties.
Geographic Concentration Risk
While expanding globally, the company remains concentrated in 11 Indian states for its domestic revenue, with a significant manufacturing base in Gujarat.
Third Party Dependencies
Dependency on cold chain logistics providers is a key risk for the perishable frozen food segment.
Technology Obsolescence Risk
The company is mitigating technology risks by investing in digital platforms and advanced food processing technologies to remain competitive.
Credit & Counterparty Risk
The Trade Receivables Turnover Ratio improved to 5.73, suggesting better management of credit exposure and faster collections from customers.
