Sarveshwar Foods Limited (SARVESHWAR)
₹3.61 +0.00% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Sarveshwar Foods' revenue was ₹358 Cr (+18.8% year on year, -6.4% on the previous quarter), and net profit ₹8.2 Cr (+17.0% year on year); the operating margin was 4.3%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹358 | +18.8% | -6.4% |
| Operating profit | ₹15.4 | -8.5% | +1.7% |
| Net profit | ₹8.2 | +17.0% | +11.9% |
| EPS (₹) | 0.07 | +0.0% | +16.7% |
| Operating margin | 4.3% | — | — |
SARVESHWAR delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 53.14% of the SARVESHWAR shares traded on NSE were taken to delivery, against the stock's own 20-session average of 66.79%. That is lower than usual for this stock. Turnover was only ₹60 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 66.6% · 78.7% · 61.1% · 80.7% · 53.1%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Sarveshwar Foods submitted the scrutinizer report for its 22nd Annual General Meeting held on September 30, 2026. All listed ordinary and special resolutions were passed with the requisite majority, receiving over 99.9% overall approval. Notable approvals include the adoption of FY26 financial statements, re-appointment of directors, and the implementation of the Sarveshwar Foods Limited Employees Stock Option Scheme 2026. Total votes polled stood at 50,79,87,672, representing 41.25% of the total 1,23,16,26,469 outstanding shares.
- Adoption of FY26 standalone and consolidated financial statements approved with 99.9921% votes in favor.
- Special resolution for Sarveshwar Foods Limited Employees Stock Option Scheme 2026 passed with 99.9384% votes in favor.
- Total turnout stood at 41.25% of outstanding shares (50,79,87,672 votes polled out of 1,23,16,26,469 shares).
- Promoter group polled 50,30,60,465 votes entirely in favor across resolutions, while 57.34% of institutional votes cast were against the ESOP resolutions.
Sarveshwar Foods conducted its Annual General Meeting on September 30, 2026, with 35 members present. The company transacted 9 key resolutions, including adoption of FY26 financial statements and director re-appointments. Notably, resolutions were put forward for a preferential allotment of up to 22.25 crore warrants to promoters and non-promoters, alongside the approval of the ESOP Scheme 2026. Official scrutinizer voting results under Regulation 44(3) will follow separately.
- AGM held on September 30, 2026, with 35 members present in person
- Special resolution tabled for preferential allotment of up to 22,25,00,000 warrants to promoter and non-promoter groups
- Proposed adoption of Sarveshwar Foods Limited – Employees Stock Option Scheme 2026
- Remote e-voting took place from September 27 to September 29, 2026
- Statutory auditor reports on FY26 financials confirmed to have no qualifications or adverse remarks
Sarveshwar Foods Limited issued a corrigendum to its AGM notice dated September 5, 2026, updating disclosures for Item No. 6 following queries from NSE and BSE. The company proposes a preferential issue of up to 22,25,00,000 fully convertible warrants at Rs 3.80 per warrant, aggregating to Rs 84.55 crore. The proposed allottees comprise promoters (8 crore warrants to Rohit Gupta) and non-promoter public investors (14.25 crore warrants). The total fundraise of Rs 84.55 crore represents approximately 20.3% of the company's current market capitalization of Rs 417 crore.
- Proposed issuance of up to 22,25,00,000 fully convertible warrants at an issue price of Rs 3.80 per warrant.
- Total capital planned to be raised is up to Rs 84,55,00,000 (Rs 84.55 crore).
- Promoter Rohit Gupta to be allotted 8,00,00,000 warrants; remainder to public/institutional allottees.
- Relevant date fixed as August 31, 2026, ahead of the AGM on September 30, 2026.
- Corrigendum issued pursuant to clarification letters from NSE (Sept 15) and BSE (Sept 17).
Sarveshwar Foods has issued the notice for its 22nd Annual General Meeting scheduled for September 30, 2026. Key special business includes seeking shareholder approval to issue and allot up to 22,25,00,000 fully convertible warrants on a preferential basis to promoters and others. The company is also proposing adoption of the SFL-ESOS 2026 scheme and re-appointment of executive and independent directors. With a current market cap of Rs 472 Cr, the potential dilution from 22.25 Cr warrants is significant relative to existing equity share capital.
- 22nd Annual General Meeting scheduled for Wednesday, September 30, 2026, at 12:00 Noon
- Approval sought for preferential issue of up to 22,25,00,000 Fully Convertible Warrants
- Implementation of Employee Stock Option Scheme (SFL-ESOS 2026) via direct primary issuance
- Re-appointment of Executive Director Mahadeep Singh Jamwal for 1 year from March 3, 2027
Sarveshwar Foods' Board has approved a fundraise of up to Rs 84.55 crore via the preferential allotment of 22.25 crore fully convertible warrants at an issue price of Rs 3.80 per warrant. The warrants are being offered to both Promoter and Non-Promoter/Public categories, representing ~21.3% of the company's Rs 397 crore market capitalization. Additionally, the Board approved the 'SFL-ESOS 2026' employee stock option scheme covering up to 1.23 crore shares (~1% of diluted share capital). Shareholder approval will be sought at the upcoming AGM scheduled for September 30, 2026.
- Preferential issue of up to 22,25,00,000 convertible warrants of face value Rs 1 each
- Issue price fixed at Rs 3.80 per warrant, aggregating to Rs 84,55,00,000 (Rs 84.55 crore)
- Adoption of SFL-ESOS 2026 scheme covering up to 1,23,16,265 options (~1% of diluted equity)
- Annual General Meeting convened for Wednesday, September 30, 2026 to seek shareholder approval
Sarveshwar Foods reported an 18.81% YoY increase in consolidated revenue to ₹358.03 Cr for Q1 FY27. While Profit After Tax (PAT) grew 17.04% to ₹8.22 Cr, operating performance was muted with EBITDA growing only 1.07% to ₹17.31 Cr. This resulted in a notable contraction in EBITDA margins from 5.68% to 4.83% YoY, indicating rising input costs or pricing pressure. The company continues to focus on its 'Nimbark' organic brand and retail expansion to counter low commodity margins.
- Revenue from operations grew 18.81% YoY to ₹358.03 Cr in Q1 FY27.
- Net Profit (PAT) increased by 17.04% YoY to ₹8.22 Cr.
- EBITDA margins compressed by 85 basis points, falling to 4.83% from 5.68% in Q1 FY26.
- Profit Before Tax (PBT) rose 15.81% YoY to ₹10.82 Cr.
- The company maintained a PAT margin of 2.29%, nearly flat compared to 2.33% in the previous year.
Sarveshwar Foods Limited has paid a total fine of Rs 47,200 (Rs 23,600 each to NSE and BSE) for a 4-day delay in filing its audited financial results for the year ended March 31, 2026. The company eventually submitted the results on June 5, 2026. The delay was attributed to difficulties in collating financial data from its UAE-based subsidiary, Natural Global Foods DMCC, due to geopolitical disruptions. The Board has directed management to strengthen internal review mechanisms to prevent future non-compliance.
- Fine of Rs 23,600 (inclusive of 18% GST) levied by both NSE and BSE for reporting delays
- Delay of 4 days in submitting audited financial results for the quarter and year ended March 31, 2026
- Financial results were filed on June 5, 2026, following the regulatory deadline
- Penalty calculated at a rate of Rs 5,000 per day of non-compliance per exchange
- Delay caused by operational disruptions at UAE subsidiary Natural Global Foods DMCC
Sarveshwar Foods Limited has submitted its quarterly statement of deviation for the period ended June 30, 2026, regarding the funds raised through its Rights Issue. The company confirmed that the Rs. 149.95 Crores raised on September 17, 2025, has been utilized without any deviation or variation from the original objects. The statement has been reviewed by the Audit Committee and the monitoring agency, Infomerics Valuation and Rating Limited, with no adverse comments reported.
- Total funds raised through Rights Issue amounted to Rs. 149.95 Crores
- Funds were originally raised on September 17, 2025
- Nil (0%) deviation or variation reported for the quarter ended June 30, 2026
- Monitoring agency Infomerics Valuation and Rating Limited provided no negative comments
- Audit Committee reviewed and approved the utilization statement without changes
Sarveshwar Foods reported a consolidated revenue of ₹358.03 Cr for Q1 FY27, an 18.8% increase over the ₹301.35 Cr reported in Q1 FY26. Net profit for the quarter rose 16.8% YoY to ₹8.20 Cr, contributing approximately 34% of the total TTM profit. A notable shift occurred in the revenue mix, with domestic sales growing to ₹348.12 Cr while exports plummeted by 64% to ₹9.90 Cr. The company maintained an EPS of ₹0.07 for the quarter on an expanded equity base of ₹123.16 Cr.
- Consolidated Revenue grew 18.8% YoY to ₹358.03 Cr, representing 35.4% of TTM revenue.
- Consolidated Net Profit increased 16.8% YoY to ₹8.20 Cr from ₹7.02 Cr.
- Export revenue saw a sharp decline of 64.4% YoY, falling from ₹27.82 Cr to ₹9.90 Cr.
- Domestic revenue increased by 27.2% YoY to ₹348.12 Cr, now accounting for 97.2% of total sales.
- Total expenses for the quarter rose to ₹349.16 Cr, with material costs accounting for ₹138.50 Cr.
Sarveshwar Foods Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The company's Registrar and Share Transfer Agent, Bigshare Services Pvt. Ltd., confirmed that no requests for dematerialization or rematerialization were received during the quarter ended June 30, 2026. Additionally, the company noted that its entire shareholding is already maintained in dematerialized form, ensuring compliance with SEBI's digitization mandates.
- Compliance certificate issued for the quarter ended June 30, 2026
- 100% of the company's shares are currently held in dematerialized form
- Zero requests for rematerialization or dematerialization were received during the 3-month period
- Confirmation provided by Bigshare Services Pvt. Ltd. on July 15, 2026
Sarveshwar Foods Limited has notified the exchanges that its trading window will be closed starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is for the purpose of finalizing and declaring the financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives and will remain in effect until 48 hours after the results are announced. This is a standard regulatory procedure and does not indicate any change in business fundamentals.
- Trading window closure begins on July 1, 2026.
- The closure is related to the financial results for the quarter ended June 30, 2026.
- Trading restriction ends 48 hours after the official declaration of financial results.
- The notice was issued on June 29, 2026, in accordance with SEBI 2015 regulations.
Sarveshwar Foods reported a 17.4% YoY growth in revenue from operations, reaching ₹66,488.72 Lacs for the financial year ended March 31, 2026. Net profit increased by 18.5% to ₹1,043.78 Lacs, though EPS remained flat at ₹0.09. A major concern for investors is the significant negative cash flow from operations of ₹8,432.25 Lacs, compared to a positive ₹564.48 Lacs in the previous year. This cash drain is primarily attributed to a 51.6% surge in trade receivables and a substantial increase in other current assets.
- Annual Revenue from Operations grew 17.4% YoY to ₹664.89 Crore.
- Net Profit (PAT) increased to ₹10.44 Crore from ₹8.81 Crore in the previous fiscal year.
- Cash Flow from Operations turned deeply negative at -₹84.32 Crore, down from +₹5.64 Crore last year.
- Trade Receivables surged by 51.6% to ₹128.61 Crore, indicating a significant stretch in the working capital cycle.
- Total Equity increased to ₹388.56 Crore following a fundraise of approximately ₹144.69 Crore through share/warrant issuance.
Sarveshwar Foods Limited has clarified the reasons for the delay in submitting its financial results for the year ended March 31, 2026. The company stated that it could not finalize consolidated results because financial information from its UAE-based subsidiary, Natural Global Foods DMCC, was unavailable. The delay is attributed to geopolitical tensions and operational disruptions in the UAE region. While the company had postponed its May 30, 2026, board meeting, it had previously failed to disclose these specific reasons due to an oversight.
- Delay in FY26 financial results submission attributed to UAE subsidiary data collation issues.
- Subsidiary Natural Global Foods DMCC impacted by geopolitical and operational disruptions in the UAE.
- Company failed to provide specific reasons during the initial board meeting postponement on May 30, 2026.
- Clarification issued following SEBI Master Circular requirements for disclosure of delays.
Sarveshwar Foods Limited has successfully passed seven key resolutions via postal ballot with overwhelming shareholder support. Major approvals include raising funds through QIP, FCCB, or other modes, and increasing the company's authorized share capital. Additionally, shareholders sanctioned an enhancement of borrowing limits and increased investment limits for Foreign Portfolio Investors (FPIs) and NRIs. These moves collectively provide the company with significant financial headroom for capital expansion and strategic investments.
- Approved raising funds through QIP and/or FCCB with 99.90% of votes (504,194,782 votes) in favor.
- Shareholders approved the increase in Authorized Share Capital with a 99.96% majority.
- Enhancement of borrowing limits under Section 180(1)(c) passed with 99.95% approval.
- Investment limits for FPIs and NRIs/OCIs were increased with 99.98% affirmative votes.
- Re-appointment of Mr. Mubarak Singh as an Independent Director was confirmed with 99.89% support.
Sarveshwar Foods Limited has concluded a postal ballot process on June 15, 2026, seeking shareholder approval for several critical financial and structural changes. Key resolutions include raising funds through Qualified Institutional Placement (QIP) or Foreign Currency Convertible Bonds (FCCB) and increasing the company's authorized share capital. The company also sought to enhance borrowing limits under Section 180(1)(c) and increase investment limits for Foreign Portfolio Investors (FPIs) and Non-Resident Indians (NRIs). These moves indicate a strategic push towards expansion and capital restructuring, with final voting results expected within two working days.
- Proposed fundraising through QIP, FCCB, or other permissible modes to bolster capital reserves.
- Requested increase in authorized share capital and consequent alteration of the Memorandum of Association.
- Sought approval to enhance borrowing limits under Section 180(1)(c) and create charges on company assets.
- Proposed higher investment limits for Foreign Portfolio Investors (FPIs) and Non-Resident Indians (NRIs) to diversify the investor base.
- Re-appointment of Mr. Mubarak Singh as an Independent Director was put to vote for shareholder approval.
Financial Performance
Revenue Growth by Segment
Total Operating Income grew 25.57% YoY to INR 869.91 Cr in FY24 from INR 692.75 Cr in FY23, primarily driven by the Bharat Rice Scheme and enhanced supply chain capabilities.
Geographic Revenue Split
Not disclosed in available documents, though the company operates in both domestic (India) and international export markets.
Profitability Margins
PAT margin improved to 1.12% in FY23 from 0.56% in FY22. H1FY26 Net Profit grew 35.74% YoY to INR 15.25 Cr from INR 11.24 Cr in H1FY25.
EBITDA Margin
EBITDA margin improved to 6.37% in FY24 from 5.17% in FY23, representing a 120 bps increase due to higher sales volumes and operational efficiencies.
Capital Expenditure
Raised INR 149.63 Cr through a Rights Issue in September 2025 to augment working capital and for general corporate purposes.
Credit Rating & Borrowing
Long-term rating of IVR BBB/Stable and Short-term rating upgraded to IVR A2, reflecting a comfortable capital structure and satisfactory debt protection metrics.
Operational Drivers
Raw Materials
Basmati Paddy and Non-Basmati Paddy, which constitute the primary cost of goods sold.
Import Sources
Sourced domestically from Jammu & Kashmir, Uttar Pradesh, Haryana, and Punjab.
Key Suppliers
Procured from a network of local farmers facilitated by the company's Farmer App and contract farming initiatives.
Capacity Expansion
Opened four new procurement centres in Baramulla, Pulwama, Kulgam, and Doda in 2024 to strengthen sourcing capabilities.
Raw Material Costs
Not explicitly disclosed as a % of revenue, but identified as the primary determinant of profitability, susceptible to Minimum Support Price (MSP) fluctuations.
Manufacturing Efficiency
Maintains high food safety standards through USFDA and BRC-approved facilities; utilizing automation and digitalization to optimize production.
Strategic Growth
Expected Growth Rate
25.57%
Growth Strategy
Achieving growth by scaling the 'Nimbark' organic brand for higher margins, participating in the Government's 'Bharat Rice Scheme' for volume expansion, and increasing retail penetration in Tier-1 cities using the INR 149.63 Cr raised via Rights Issue.
Products & Services
Basmati Rice (Unique, Select, Ultra XL), Non-Basmati Rice, Organic Pulses, and Sarveshwar Atta.
Brand Portfolio
Sarveshwar, Nimbark.
New Products/Services
Expansion into value-added FMCG and organic products expected to deliver higher margins than bulk commodity rice.
Market Expansion
Expanding retail footprint in Tier-1 cities and strengthening presence in international export markets.
External Factors
Industry Trends
The industry is shifting toward branded and organic staples; SFL is positioning itself with the 'Nimbark' brand to capture this trend while leveraging government schemes for volume growth.
Competitive Landscape
Fragmented industry with many small players, leading to thin profit margins and high competition in the bulk rice segment.
Competitive Moat
Durable advantages include a 130-year heritage, locational advantage in J&K for premium basmati sourcing, and USFDA/BRC certified processing facilities that act as export barriers for competitors.
Macro Economic Sensitivity
Highly sensitive to agricultural inflation and monsoon patterns affecting paddy yields and procurement prices.
Consumer Behavior
Increasing consumer preference for branded, certified organic, and value-added food products.
Geopolitical Risks
Susceptible to international trade barriers and changes in government export/import regulations for rice.
Regulatory & Governance
Industry Regulations
Operations are governed by Minimum Support Price (MSP) for paddy, rice release mechanisms, and government-controlled export/import quotas.
Environmental Compliance
Implementing a carbon-neutral vision and regenerative farming initiatives to align with global ESG-focused investment trends.
Risk Analysis
Key Uncertainties
Agro-climatic risks and sudden shifts in government agricultural policies could impact revenue and margins by 10-15%.
Geographic Concentration Risk
Operations are primarily concentrated in Jammu & Kashmir, exposing the company to regional political or climatic disruptions.
Third Party Dependencies
High dependency on a network of farmers for raw paddy procurement, partially mitigated by contract farming.
Technology Obsolescence Risk
Mitigated by ongoing digitalization of the supply chain and automation of processing facilities.
Credit & Counterparty Risk
Receivables quality is considered satisfactory with a current ratio of 1.53x in FY24.
