Srivari Spices And Foods Limited (SSFL)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Srivari Spices' revenue was ₹96.0 Cr (+62.5% year on year, +26.0% on the previous half-year), and net profit ₹9.0 Cr (+87.2% year on year); the operating margin was 16.7%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹96.0 | +62.5% | +26.0% |
| Operating profit | ₹16.0 | +67.3% | +20.1% |
| Net profit | ₹9.0 | +87.2% | +26.3% |
| EPS (₹) | 10.55 | +70.7% | +27.0% |
| Operating margin | 16.7% | — | — |
SSFL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 93.75% of the SSFL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 95.34%. That is close to its usual level. Turnover was only ₹23 lakh, so a handful of trades can move this figure. It closed at its lower price band (circuit) on 16 Oct, one of 4 band closes in about the last 20 sessions.
Delivery in the last 5 sessions: 100.0% · 100.0% · 77.8% · 97.4% · 93.8%
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
Srivari Spices And Foods Limited (SSFL) announced that shareholders at its 7th Annual General Meeting have approved the regularisation of Mr. Vineel Konda Raju Mudundi as an Independent Director. The appointment is for a tenure of 5 years, effective from November 12, 2025 to November 11, 2030. Mr. Mudundi is an Associate Member of the ICSI with over 5 years of post-qualification experience in corporate and securities laws.
- Shareholders approved the regularisation of Mr. Vineel Konda Raju Mudundi as Independent Director at the 7th AGM on October 3, 2026
- Tenure spans 5 years, commencing retroactively from November 12, 2025, through November 11, 2030
- Appointee brings over 5 years of post-qualification experience in corporate and securities governance
Srivari Spices And Foods Limited has declared the voting results and scrutinizer's report for its 7th Annual General Meeting held on September 30, 2026. A total of 5,021,700 votes were polled across 1,884 eligible shareholders, representing 58.59% of the total 8,570,400 outstanding shares. All 4 ordinary resolutions, including the adoption of FY26 financials and director appointments, were passed with virtually unanimous support (99.97% to 100%). Promoter voting accounted for 4,995,000 votes, while public non-institutional votes totaled 26,700.
- All 4 ordinary resolutions passed with over 99.96% votes in favour
- 50,21,700 total votes polled out of 85,70,400 outstanding shares (58.59% turnout)
- Promoter group cast 49,95,000 votes with 100% in favour across all resolutions
- Adoption of FY26 standalone and consolidated financial statements passed with 100% approval
- Re-appointment of director Narayan Das Rathi passed with 99.97% approval (1,600 votes against)
Srivari Spices And Foods Limited (SSFL) has issued notice convening its 7th Annual General Meeting (AGM) on September 30, 2026. Key agenda items include the adoption of FY26 standalone and consolidated financial statements and the reappointment of director Mr. Narayan Das Rathi. Additionally, shareholders will vote on the formal appointment of two Non-Executive Independent Directors, Mr. Manish Kumar Shukla and Mr. Vineel Konda Raju Mudundi, for a five-year term ending November 11, 2030.
- 7th Annual General Meeting scheduled for Wednesday, September 30, 2026 at 11:00 AM IST
- Approval sought for adoption of audited standalone and consolidated financial statements for the year ended March 31, 2026
- Proposed appointment of Mr. Manish Kumar Shukla as Non-Executive Independent Director for a 5-year term through November 11, 2030
- Proposed appointment of Mr. Vineel Konda Raju Mudundi as Non-Executive Independent Director for a 5-year term through November 11, 2030
- Mr. Narayan Das Rathi retires by rotation and seeks re-appointment as Director
Srivari Spices and Foods Limited has announced its 7th Annual General Meeting (AGM) scheduled for September 30, 2026, at 11:00 AM at its corporate office in Hyderabad. The cut-off date for determining e-voting entitlement is September 23, 2026. Remote e-voting will commence on September 27, 2026 at 9:00 AM and end on September 29, 2026 at 5:00 PM. Bigshare Services has been appointed as the e-voting service provider, and M. Ramana Reddy has been appointed as the scrutinizer.
- 7th Annual General Meeting to take place on September 30, 2026 at 11:00 AM
- Cut-off date for e-voting entitlement set as September 23, 2026
- Remote e-voting window runs from September 27, 2026 (9:00 AM) to September 29, 2026 (5:00 PM)
- Annual report and notice dispatch scheduled for September 08, 2026
Srivari Spices and Foods Limited announced the outcome of its Board Meeting held on September 05, 2026. The Board approved the Directors' Report along with annexures for the financial year ended March 31, 2026. Additionally, the company's 7th Annual General Meeting (AGM) has been scheduled for Wednesday, September 30, 2026, at 11:00 AM at its corporate office in Hyderabad. The meeting notice and related e-voting details were also approved.
- 7th Annual General Meeting scheduled for September 30, 2026, at 11:00 AM
- Board approved the Directors' Report and annexures for FY ended March 31, 2026
- Notice of AGM along with e-voting schedule approved during the meeting
- Board meeting held on September 05, 2026, from 12:30 PM to 2:40 PM
Srivari Spices and Foods Limited (SSFL) has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document, issued by the Registrar and Share Transfer Agent (RTA), Bigshare Services Private Limited, confirms that no dematerialization requests were received for the company's equity shares during the quarter. This is a standard administrative filing required for all listed entities to maintain shareholding transparency.
- Reporting period spans from April 1, 2026, to June 30, 2026
- Zero (0) dematerialization requests were received during the entire quarter
- Compliance confirmed by Bigshare Services Private Limited, the company's RTA
- Filing submitted to the National Stock Exchange (NSE) on July 30, 2026
Financial Performance
Revenue Growth by Segment
In H1 FY26, the Atta segment contributed 45% of revenue, Spices and Masalas contributed 40%, and the newly launched Oil segment contributed 5%. Overall revenue for H1 FY26 reached INR 78.77 Cr, representing a 49.08% YoY growth compared to INR 52.84 Cr in H1 FY25.
Geographic Revenue Split
The company is headquartered in Hyderabad, Telangana, where it recently received the FMCG Spices brand award. Specific % splits for other regions are not disclosed in available documents.
Profitability Margins
Profitability has shown an upward trend; PAT margin increased to 9.14% in H1 FY26 from 8.37% in FY25 and 8.99% in FY24. This improvement is driven by the brand's ability to maintain quality-based pricing while scaling operations.
EBITDA Margin
EBITDA margin stood at 17.05% in H1 FY26, a significant improvement from 15.99% in FY25 and 16.32% in FY24. The YoY increase in EBITDA margin reflects better operational leverage as the company scales its core Atta and Spices portfolios.
Capital Expenditure
Property, Plant & Equipment (PPE) stood at INR 19.95 Cr in H1 FY26. The company plans to initiate a major expansion for Atta and Spices manufacturing after the next financial year (FY27) to address high capacity utilization.
Credit Rating & Borrowing
Total borrowings increased to INR 33.35 Cr in H1 FY26, comprising INR 9.49 Cr in long-term debt and INR 23.86 Cr in short-term borrowings. Specific interest rate percentages and credit ratings were not disclosed.
Operational Drivers
Raw Materials
Key raw materials include wheat (for Atta), whole spices (for blended and pure masalas), and oilseeds (for the Oil vertical). Specific cost percentages for each material were not disclosed.
Import Sources
Not disclosed in available documents; however, the company operates primarily out of Hyderabad, India.
Key Suppliers
Not disclosed in available documents. The company currently uses third-party manufacturing for Soya Chunks but handles core products in-house.
Capacity Expansion
Current installed capacities are: Atta at 14,400 tons, Spices at 3,600 tons, and Oil at 7,200 tons. Expansion for Atta and Spices is planned to commence after FY27 to meet growing demand.
Raw Material Costs
Total expenditure for H1 FY26 was INR 65.34 Cr, representing approximately 83% of revenue. The company focuses on a 'quality-first' procurement strategy to maintain its premium brand image.
Manufacturing Efficiency
Capacity utilization in H1 FY26 was 87.85% for Atta (12,650 tons utilized) and 73.25% for Spices (2,637 tons utilized). The Oil segment is currently at 10% utilization (720 tons) as it is in the launch phase.
Logistics & Distribution
The company is focused on expanding its distribution network to sustain growth momentum; however, specific logistics costs as a % of revenue were not provided.
Strategic Growth
Expected Growth Rate
49%
Growth Strategy
Growth will be achieved through a new business vertical for Puja and devotional articles, increasing Oil segment utilization from 10% to 30% in H2 FY26, and expanding the product portfolio with items like Soya Chunks. The company also plans to transition third-party manufactured products to in-house facilities once scale is achieved.
Products & Services
The company sells Atta (flour), Spices, Blended Masalas, Edible Oils, and Soya Chunks. It is also launching a line of Puja articles and devotional goods.
Brand Portfolio
Srivari
New Products/Services
New launches include Soya Chunks and a planned vertical for Puja articles and festival-related items, intended to diversify revenue streams into high-demand consumer categories.
Market Expansion
The company is targeting expansion into adjacent consumer categories and strengthening its presence in the Telangana region while exploring international operations.
Strategic Alliances
The company currently utilizes third-party manufacturers for its Soya Chunks product line to test market demand before committing to capital expenditure.
External Factors
Industry Trends
The FMCG industry is seeing a shift toward branded, quality-assured staples. Srivari is positioning itself as a premium quality provider, evidenced by its feature in Forbes India (August 2025) and winning the ET Excellence Award 2025.
Competitive Landscape
The company faces competition from both domestic FMCG giants and international players in the spices and staples market.
Competitive Moat
The moat is built on brand credibility and a reputation for quality in the spices and flour market. This is sustained through recognitions and awards that differentiate Srivari from unorganized competitors.
Macro Economic Sensitivity
The business is sensitive to general economic growth in India and prevailing interest rates, which affect fiscal costs and consumer purchasing power for FMCG goods.
Consumer Behavior
There is an increasing demand for branded and packaged devotional/Puja products, which the company is targeting with its new business vertical.
Geopolitical Risks
The company monitors international government policies and regulations as it manages its international operations.
Regulatory & Governance
Industry Regulations
Operations are subject to government policies, actions, and regulations regarding food safety and FMCG manufacturing standards.
Taxation Policy Impact
The effective tax rate for H1 FY26 was approximately 29.18% (INR 2.97 Cr tax on INR 10.17 Cr PBT).
Risk Analysis
Key Uncertainties
Key risks include the ability to attract and retain highly skilled professionals and potential time/cost overruns on contracts. The resignation of the Company Secretary in November 2025 highlights human capital risk.
Geographic Concentration Risk
The company has a strong concentration in Telangana, where it recently received regional brand awards.
Third Party Dependencies
There is a dependency on third-party manufacturers for the Soya Chunks segment, though the company intends to bring this in-house eventually.
Technology Obsolescence Risk
The company is investing in R&D for new product lines to stay relevant with evolving consumer preferences in the FMCG and devotional goods sectors.
Credit & Counterparty Risk
Trade payables of INR 5.08 Cr and other current liabilities are managed to support working capital, but specific counterparty credit quality was not disclosed.
