Euro India Fresh Foods Limited (EIFFL)
₹251.50 -2.14% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Euro India's revenue was ₹36.1 Cr (+15.7% year on year, -39.9% on the previous quarter), and net profit ₹0.7 Cr (+124.2% year on year); the operating margin was 9.8%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹36.1 | +15.7% | -39.9% |
| Operating profit | ₹3.5 | +59.9% | -61.6% |
| Net profit | ₹0.7 | +124.2% | -84.1% |
| EPS (₹) | 0.30 | +130.8% | -84.0% |
| Operating margin | 9.8% | — | — |
📢 Recent Corporate Announcements
Euro India Fresh Foods Limited has announced the voting results of its 17th Annual General Meeting held on September 30, 2026. All four resolutions were passed with 100% approval from the votes polled, which represented 74.04% of total outstanding shares (1,87,06,678 votes). Approved business included adoption of FY26 financial statements, reappointment of Mr. Dipesh Dinesh Sanspara, and appointment of two Independent Directors (Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara). Public institutional shareholders did not participate in the voting process.
- All 4 resolutions passed with 100% of votes cast in favour
- Overall voter turnout stood at 74.0436% with 1,87,06,678 votes polled out of 2,52,64,410 total shares
- 100% promoter voting participation with 1,82,28,798 shares cast in favour
- Public non-institutional voter turnout was 7.3011% (477,880 votes)
- A total of 48 shareholders attended the AGM via video conferencing
Euro India Fresh Foods Limited (EIFFL) announced the cessation of Mr. Snehal Manjibhai Patel and Mr. Pareshkumar Bhupatbhai Lathiya as Non-Executive Independent Directors effective September 09, 2026. The cessations occurred upon the normal completion of their respective tenures under Regulation 30 of SEBI LODR Regulations. Both directors also ceased to be chairpersons or members across key committees including the Audit, Nomination & Remuneration, and Stakeholders Relationship Committees. This is a routine governance transition without premature resignations.
- Cessation of two Independent Directors, Mr. Snehal Manjibhai Patel and Mr. Pareshkumar Bhupatbhai Lathiya, effective September 09, 2026
- Both cessations are due to the scheduled completion of their tenures
- Vacated committee roles include Audit Committee and Nomination & Remuneration Committee
- Mr. Pareshkumar Bhupatbhai Lathiya also stepped down as Chairperson of the Stakeholders Relationship Committee
Euro India Fresh Foods Limited announced that Independent Directors Mr. Snehal Manjibhai Patel and Mr. Pareshkumar Bhupatbhai Lathiya ceased to be directors effective September 09, 2026. The cessation occurred upon the completion of their respective tenures. Consequently, both individuals have vacated committee positions, including chairmanships of the Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee. The departures are routine tenure completions under corporate governance guidelines.
- Cessation of Independent Director Mr. Snehal Manjibhai Patel effective September 09, 2026
- Cessation of Independent Director Mr. Pareshkumar Bhupatbhai Lathiya effective September 09, 2026
- Vacation of chairperson roles in Audit Committee, Nomination and Remuneration Committee, and Stakeholders Relationship Committee
- Both cessations occurred pursuant to the completion of tenure under SEBI LODR Regulation 30
Euro India Fresh Foods Limited (EIFFL) has issued notice for its 17th Annual General Meeting to be held virtually on September 30, 2026. The meeting will address routine statutory adoptions alongside the appointment of two Independent Directors, Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara, each for a 5-year tenure ending September 4, 2031. Remote e-voting is scheduled to begin on September 26, 2026, and conclude on September 29, 2026, with the cut-off date fixed as September 23, 2026.
- 17th Annual General Meeting scheduled for September 30, 2026, at 12:30 p.m. IST via VC/OAVM
- Shareholder voting cut-off date set for September 23, 2026
- Remote e-voting window runs from September 26, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Proposed appointments of Jayesh Jethalal Patel and Dineshkumar Pragjibhai Monpara as Independent Directors for 5-year terms through September 04, 2031
Euro India Fresh Foods Limited held a board meeting on September 5, 2026, approving the Directors' Report and scheduling the 17th Annual General Meeting for September 30, 2026. The cut-off date for remote e-voting is set for September 23, 2026, with the voting window open from September 26 to September 29, 2026. The board also approved the appointment of Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara as Additional Independent Directors for a five-year term from September 5, 2026, to September 4, 2031, subject to shareholder approval.
- 17th Annual General Meeting scheduled for September 30, 2026, at 12:30 PM via VC/OAVM
- Remote e-voting cut-off date fixed as September 23, 2026; voting open from September 26 to September 29, 2026
- Appointed Mr. Jayesh Jethalal Patel as Additional Independent Director for 5 years (Sept 5, 2026, to Sept 4, 2031)
- Appointed Mr. Dineshkumar Pragjibhai Monpara as Additional Independent Director for 5 years (Sept 5, 2026, to Sept 4, 2031)
Euro India Fresh Foods Limited announced board approval for the appointment of Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara as Independent Directors for a 5-year term from September 05, 2026 to September 04, 2031, subject to shareholder approval. The company scheduled its 17th Annual General Meeting (AGM) for September 30, 2026 via video conferencing. The cut-off date for AGM e-voting has been fixed for September 23, 2026, with remote e-voting running from September 26 to September 29, 2026.
- Appointed Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara as Independent Directors for 5-year terms (Sep 05, 2026 to Sep 04, 2031)
- 17th Annual General Meeting scheduled for September 30, 2026 at 12:30 PM via VC/OAVM
- Remote e-voting window set from September 26, 2026 (9:00 AM) to September 29, 2026 (5:00 PM) with a cut-off date of September 23, 2026
Euro India Fresh Foods Limited announced the appointment of Mr. Jayesh Jethalal Patel and Mr. Dineshkumar Pragjibhai Monpara as Additional Independent Directors for a 5-year tenure effective September 5, 2026, to September 4, 2031. Both appointments are subject to shareholder approval at the upcoming 17th Annual General Meeting (AGM) scheduled for September 30, 2026. The cut-off date for AGM e-voting has been fixed for September 23, 2026, with voting running from September 26 to September 29, 2026.
- Appointment of Jayesh Jethalal Patel and Dineshkumar Pragjibhai Monpara as Independent Directors for 5 consecutive years from Sep 5, 2026, to Sep 4, 2031.
- 17th Annual General Meeting to be held via VC/OAVM on September 30, 2026, at 12:30 P.M.
- E-voting cut-off date set as September 23, 2026; voting window active from September 26 to September 29, 2026.
- Both appointees bring over 20-30 years of operational and trading experience in the diamond and textile sectors.
Euro India Fresh Foods Limited (EIFFL) announced a revision in the object-wise utilisation of its preferential issue proceeds after 16,45,590 equity shares (out of 21,10,000 approved) remained unsubscribed. Total issue proceeds have dropped from ₹98.98 crore to ₹58.66 crore (including ₹35.46 crore receivable upon warrant conversion). Consequently, the company has retained the full ₹35.00 crore allocation for working capital, but reduced debt repayment from ₹42.59 crore to ₹10.00 crore and completely deferred ₹3.50 crore each for plant & machinery capex and marketing expenses.
- Preferential issue proceeds reduced by 40.7% from ₹98.98 crore to ₹58.66 crore due to 16.46 lakh unsubscribed equity shares
- Allocated ₹35.00 crore (full original target) towards working capital requirements to be deployed over 9 months
- Bank term loan and cash credit repayment allocation cut from ₹42.59 crore to ₹10.00 crore (planned within 3 months)
- Plant and machinery purchase (₹3.50 crore) and marketing/advertising (₹3.50 crore) deferred in full to preserve liquidity
Euro India Fresh Foods Limited (EIFFL) has completed the allotment of 4,64,410 equity shares on a private preferential basis to 20 non-promoter investors. The shares were issued at Rs 245 per share, raising a total of Rs 11.38 crore. This fundraise represents approximately 14.8% of the company's reported net worth of Rs 77 crore, though it is negligible (0.06%) compared to its market capitalization. The issue price of Rs 245 is at a ~13.5% discount to the current market price of Rs 283.4.
- Allotment of 4,64,410 equity shares at a fixed price of Rs 245 per share
- Total capital raised amounts to Rs 11,37,80,450 (Rs 11.38 crore)
- Paid-up share capital increased from Rs 24.80 crore to Rs 25.26 crore
- Funds raised from 20 distinct non-promoter allottees
- Issue follows shareholder approval from the EGM held on July 17, 2026
Euro India Fresh Foods Limited (EIFFL) approved its unaudited financial results for the quarter ended June 30, 2026, in a board meeting held on August 12, 2026. The statutory auditors provided a clean limited review report, indicating no material misstatements. With a TTM revenue of ₹3,147 Cr and a high P/E of 524.6, these results are critical to assess if the company can sustain the significant scale achieved in the previous year. Investors should focus on whether the operating profit margin (TTM 7.1%) shows improvement amid volatile agro-commodity prices.
- Board meeting concluded at 06:30 P.M. on August 12, 2026, after a 90-minute session.
- Financial results approved for the three-month period ended June 30, 2026.
- Company maintains a TTM revenue base of ₹3,147 Cr as of the latest available context.
- TTM Net Profit stands at ₹34 Cr, reflecting a thin net margin of approximately 1.08%.
- Promoter holding remains stable at 73.5% as per June 2026 records.
Euro India Fresh Foods Limited (EIFFL) has approved the allotment of 19,30,000 convertible warrants at an issue price of Rs 245 per warrant. The total fundraise amounts to Rs 47.29 Cr, which is significant as it represents approximately 61% of the company's current net worth (Rs 77 Cr). The company has received the initial 25% payment (Rs 11.82 Cr), with the remaining 75% due within 18 months upon conversion into equity shares. Allottees include major promoter group members and key management personnel, signaling internal confidence despite a high P/E valuation.
- Allotment of 19,30,000 convertible warrants at a price of Rs 245 per warrant.
- Total aggregate value of the issue stands at Rs 47.285 Cr.
- Initial 25% of the consideration (approx. Rs 11.82 Cr) has been received by the company.
- Promoter group members Sahilkumar and Dipesh Sanspara were allotted 4,66,000 warrants each.
- The issue price of Rs 245 is at a ~9% discount to the current market price of Rs 269.3.
Euro India Fresh Foods Limited (EIFFL) has issued a clarification regarding its pending preferential issue following observations from the NSE. The company identified that three non-promoter allottees acquired a total of 15,546 shares from the secondary market between the board meeting date (June 19, 2026) and the EGM date (July 17, 2026). While the pre-issue and post-issue shareholding percentages for these individuals have been updated, the company confirmed that the number of shares to be allotted, issue price, and total issue size remain unchanged. This filing is a procedural requirement to ensure disclosure accuracy for regulatory listing approval.
- 3 proposed allottees (Purvi Ricky Shah, Upendra Kanani, Darshan Rupapara) found to have purchased shares from the secondary market post-announcement
- Total of 50,000 equity shares are to be allotted to these three specific individuals as part of the larger issue
- Relevant date for floor price determination was fixed as June 17, 2026
- Shareholders approved the preferential issue resolutions on July 17, 2026
- Company confirms zero change in the total number of shares to be allotted or the issue price
Shareholders of Euro India Fresh Foods Limited (EIFFL) have approved a significant fundraise totaling Rs 98.97 crore through preferential allotments. This includes Rs 51.69 crore via equity shares to non-promoters and Rs 47.28 crore via convertible warrants to both promoter and non-promoter groups. The issue price is set at Rs 245 per unit, which is a notable discount to the current market price of Rs 329. This capital infusion is substantial, representing approximately 128% of the company's current net worth of Rs 77 crore.
- Approved preferential issue of equity shares to non-promoters totaling Rs 51.69 crore
- Approved issuance of convertible warrants to promoters and non-promoters totaling Rs 47.28 crore
- Fixed issue price for both instruments at Rs 245 per unit
- Total fundraise of Rs 98.97 crore exceeds the company's current net worth of Rs 77 crore
- Resolutions passed with 100% of polled votes in favor across all categories
Shareholders of Euro India Fresh Foods Limited (EIFFL) have approved a total fundraise of Rs 98.97 crores during the EGM held on July 17, 2026. This includes Rs 51.69 crores via equity shares to non-promoters and Rs 47.28 crores via convertible warrants to both promoters and non-promoters. The issue price of Rs 245 per share/warrant represents a significant discount to the current market price of Rs 333. This capital infusion is substantial, representing approximately 128% of the company's current net worth of Rs 77 crores.
- Approved issuance of equity shares to non-promoters for up to Rs 51.69 crores
- Approved issuance of share convertible warrants for up to Rs 47.28 crores
- Fixed issue price for both instruments at Rs 245 per unit
- Total fundraise of Rs 98.97 crores exceeds the current net worth of Rs 77 crores
- Resolutions passed with requisite majority at the EGM held on July 17, 2026
Euro India Fresh Foods Limited (EIFFL) has issued a corrigendum to its EGM notice for the meeting scheduled on July 17, 2026. Following observations from the NSE, three proposed allottees were found ineligible under SEBI ICDR Regulation 159(1) and have been replaced. The substitution involves 80,000 equity shares (₹1.96 Cr) and 2,80,000 warrants (₹6.86 Cr). While the total issue size remains unchanged, the correction is necessary for the company to receive in-principle approval from the exchange.
- Substitution of 2 equity allottees for 80,000 shares valued at ₹1.96 Cr
- Replacement of 1 warrant allottee for 2,80,000 warrants valued at ₹6.86 Cr
- Disqualifications occurred under Regulation 159(1) of SEBI (ICDR) Regulations
- EGM to be held on July 17, 2026, at 12:30 PM via Video Conferencing
- Total fundraise amount and terms remain unchanged despite allottee changes
Financial Performance
Revenue Growth by Segment
Total operating income was approximately INR 144 crore in FY25. Segment-specific growth percentages are not disclosed, but the portfolio includes namkeen, potato chips, fruit juice, beverages, and bakery items.
Geographic Revenue Split
The company has a pan-India presence with an established distribution network in Maharashtra and Gujarat; it also exports a small portion to the UK, US, and Gulf countries.
Profitability Margins
Net profit stood at INR 5.6 crore for FY25, representing a net margin of approximately 3.89%. Margins are susceptible to volatility in agro commodity prices.
EBITDA Margin
Not explicitly disclosed as a percentage, but the company earned a gross cash accrual (GCA) of INR 8.28 crore in FY25, which is expected to grow to INR 11-21 crore during FY26-28.
Capital Expenditure
Not disclosed in absolute INR Cr, but the company maintains an installed capacity of 12,500 MTPA and utilizes machinery leases to avoid idle capacity.
Credit Rating & Borrowing
The company has a Stable outlook with an interest coverage ratio of 3.63x and an overall gearing ratio of 0.58x as of March 31, 2025.
Operational Drivers
Raw Materials
Agro commodities including potatoes, edible oils, and grains for snacks; specific cost percentages for each are not disclosed.
Import Sources
Sourced primarily from domestic markets in India, with a focus on proximity to facilities in Gujarat to lower logistics costs.
Key Suppliers
J R Foods & Beverages is a key related party supplier and facility provider, with proposed transactions of up to INR 300 crore for FY 2025-26.
Capacity Expansion
Current installed capacity is 12,500 MTPA; specific planned expansion timelines in MT are not disclosed in the available documents.
Raw Material Costs
Susceptible to high volatility in agro commodity prices which impacts the cost structure; procurement is managed partly through related party facilities to ensure supply chain continuity.
Manufacturing Efficiency
Utilizes machinery leases to avoid idle capacity and leverages a related party facility that is nearest to operations to minimize logistics expenses.
Logistics & Distribution
Distribution costs are optimized through an extensive network of distributors and the strategic use of the J R Foods & Beverages facility to reduce transit expenses.
Strategic Growth
Expected Growth Rate
33-153%
Growth Strategy
Achieved through product diversification (namkeen, chips, juices, bakery) to limit dependence on single categories, expansion of the pan-India distribution network, and a strategic INR 300 crore related-party transaction with J R Foods & Beverages to secure the supply chain.
Products & Services
Ready-to-eat items including namkeen, potato chips, fried extruded snacks, fruit juice, beverages, bakery items, mineral water, core filling snacks, and fruit pulps.
Brand Portfolio
Euro
Market Expansion
Focusing on strengthening pan-India presence and increasing the small export portion currently sent to the UK, US, and Gulf countries.
Strategic Alliances
Strategic partnership with J R Foods & Beverages for machinery leasing and supply chain facilities.
External Factors
Industry Trends
The food processing industry is characterized by high competition and a shift toward diversified product portfolios; EIFFL is positioning itself as a multi-product player under the 'Euro' brand.
Competitive Landscape
Faces intense competition from both large-scale organized players and unorganized local manufacturers.
Competitive Moat
Moat is based on a 15-year operational track record, a diversified portfolio across snacks and beverages, and an established distribution network in Gujarat and Maharashtra.
Macro Economic Sensitivity
Highly sensitive to agro-commodity inflation which directly impacts the cost of raw materials for snack production.
Consumer Behavior
Demand is driven by consumer preference for ready-to-eat snacks and branded food products.
Geopolitical Risks
Trade barriers or shifts in the UK, US, or Gulf countries could impact the export segment.
Regulatory & Governance
Industry Regulations
Subject to food safety and manufacturing standards; cost audit was not applicable for the financial year 2024-25.
Legal Contingencies
No instances of non-compliance or penalties were imposed by the Stock Exchange or any statutory authority during the year 2024-25.
Risk Analysis
Key Uncertainties
Volatility in agro commodity prices and high competition could impact margins by more than 2-3% given the current modest net profit levels.
Geographic Concentration Risk
High concentration in Western India, specifically Maharashtra and Gujarat.
Third Party Dependencies
Significant dependency on J R Foods & Beverages for supply chain continuity and logistics optimization.
Technology Obsolescence Risk
Low risk in traditional food processing, but requires continuous maintenance of the 12,500 MTPA capacity.
Credit & Counterparty Risk
Extensive network of distributors implies spread-out credit risk, though working capital remains intensive with 89% CC utilization.
