Shah Foods

  • Market Cap: Micro Cap
  • Industry: FMCG
  • ISIN: INE455D01012
  • NSEID:
  • BSEID: 519031
INR
162.05
7.7 (4.99%)
BSENSE

Mar 16

BSE+NSE Vol: 33

  • Price Points
  • Score
  • Mojo Parameters
  • Total Return
  • News and Corporate Actions
  • Key factors
  • Shareholding
  • Financials
  • CompanyCV
stock-summaryPrice Point
High/Low

1Day

52 Week

Valuation
Technical
Day's Volume

CASH

33 (560.00%) Volume

Shareholding (Dec 2025)

FII

0.00%

Held by 0 FIIs

DII

0.00%

Held by 0 DIIs

Promoter

49.01%

Who are the top shareholders of the Shah Foods?

28-Apr-2025

The top shareholders of Shah Foods are Kirtiben Rajeshkumar Patel with 8.37%, Pradeep Porwal with 7.93%, and individual investors holding a combined 48.89%. There are no institutional holdings from mutual funds or foreign investors.

The top shareholders of Shah Foods include Kirtiben Rajeshkumar Patel, who holds the highest stake among promoters at 8.37%. The highest public shareholder is Pradeep Porwal, with a holding of 7.93%. Additionally, individual investors collectively hold 48.89% of the company's shares. There are no institutional holdings from mutual funds or foreign institutional investors.

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Who are in the management team of Shah Foods?

28-Apr-2025

As of Mar 2023 The management team of Shah Foods includes Nirav J Shah (Managing Director), Virendra Shah, Pushpa J Shah, Kunal Asarpota, Malav Jashwantlal Shah, and Sunil Gautambhai Parikh (all Independent Directors), along with Hirai Ishan Dave (Company Secretary & Compliance Officer).

As of Mar 2023 The management team of Shah Foods includes the following individuals:<BR><BR>1. Nirav J Shah - Managing Director<BR>2. Virendra Shah - Independent Director<BR>3. Pushpa J Shah - Non-Executive Director<BR>4. Kunal Asarpota - Independent Director<BR>5. Malav Jashwantlal Shah - Independent Director<BR>6. Sunil Gautambhai Parikh - Independent Director<BR>7. Hirai Ishan Dave - Company Secretary & Compliance Officer<BR><BR>If you have any more questions about Shah Foods or its operations, feel free to ask!

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how big is Shah Foods?

07-May-2025

As of May 05, Shah Foods Ltd has a market capitalization of 8.00 Cr, with net sales of 1.49 Cr and a net profit of -0.15 Cr over the latest four quarters. The standalone balance sheet as of March 2024 shows shareholder's funds of -0.67 Cr and total assets of 0.52 Cr.

As of May 05, Shah Foods Ltd has a market capitalization of 8.00 Cr, classifying it as a Micro Cap company.<BR><BR>As of May 05, the company reported a sum of Net Sales for the latest 4 quarters of 1.49 Cr and a Net Profit of -0.15 Cr. This data is based on Standalone financials.<BR><BR>As of March 2024, the Standalone balance sheet shows Shareholder's Funds of -0.67 Cr and Total Assets of 0.52 Cr.

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Is Shah Foods overvalued or undervalued?

09-Jun-2025

As of October 16, 2024, Shah Foods is considered "risky" and overvalued with a negative PE ratio of -8.90, a PEG ratio of 0.00, and has underperformed the Sensex by 36.93% year-to-date, contrasting sharply with peers like Hindustan Unilever and Nestle India.

As of 16 October 2024, Shah Foods has moved from a grade of "does not qualify" to "risky." The company is currently overvalued, as indicated by its negative PE ratio of -8.90 and EV to EBITDA ratio of -8.77. The PEG ratio stands at 0.00, further emphasizing the lack of growth potential in relation to its valuation.<BR><BR>In comparison to its peers, Shah Foods' valuation metrics starkly contrast with those of Hindustan Unilever, which has a PE ratio of 53.88, and Nestle India, with a PE ratio of 75.2. These comparisons highlight the significant disparity in valuation, suggesting that Shah Foods is not only underperforming but also carries a higher risk profile. Additionally, the company's stock has underperformed against the Sensex, particularly in the year-to-date period, where it has declined by 36.93% compared to the Sensex's gain of 5.58%.

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What is the technical trend for Shah Foods?

09-Jun-2025

As of May 26, 2025, Shah Foods' trend is neutral with a current price of 148.60, reflecting a -39.35% return over the year, indicating no clear bullish or bearish signals.

As of 26 May 2025, the technical trend for Shah Foods changed from mildly bearish to does not qualify. The current price is 148.60, which is slightly below the previous close of 149.00. The stock has experienced significant underperformance over the year, with a return of -39.35% compared to a 7.50% gain in the Sensex. The lack of sufficient technical indicators and the current trend classification suggest a neutral stance, as there are no clear bullish or bearish signals at this time.

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Are Shah Foods latest results good or bad?

15-Oct-2025

Shah Foods' latest results show a mixed performance with a slight improvement in scores, but concerns about low liquidity and a 'Sell' rating from analysts suggest the outlook may not be favorable for investors. Caution is advised before making investment decisions.

Shah Foods' latest financial results indicate a mixed performance. The company reported a flat performance for the quarter ending March 2024, with a score of -3, which is an improvement from the previous quarter's score of -6. However, the 'Sell' call from MarketsMOJO suggests that analysts have concerns about the company's outlook.<BR><BR>A significant issue is the company's cash and cash equivalents, which have reached their lowest point in the last three years at Rs 0.01 crore. This raises concerns about Shah Foods' short-term liquidity and financial stability.<BR><BR>Overall, while there are some signs of improvement in performance, the low liquidity and the analyst rating suggest that the results may not be viewed positively by investors. It’s advisable for potential investors to weigh these factors carefully before making any decisions.

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When is the next results date for Shah Foods?

12-Nov-2025

The next results date for Shah Foods is 14 November 2025.

The next results date for Shah Foods is scheduled for 14 November 2025.

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How has been the historical performance of Shah Foods?

17-Nov-2025

Shah Foods has shown significant recovery in its financial performance, reporting net sales of 3.78 crore and a return to profitability with an operating profit and profit after tax of 0.11 crore in March 2025, after previous years of losses. Total liabilities and assets increased to 2.89 crore, indicating a strengthening financial position.

Answer:<BR>The historical performance of Shah Foods shows a significant fluctuation in its financial metrics over the years, with a notable recovery in the latest fiscal year.<BR><BR>Breakdown:<BR>Shah Foods reported net sales of 3.78 crore in March 2025, a substantial increase from zero sales in the previous three years and a recovery from 0.09 crore in March 2021 and 1.02 crore in March 2020. The total operating income also rose to 3.78 crore in March 2025, compared to previous years where it remained at zero or very low levels. The company achieved an operating profit of 0.11 crore in March 2025, contrasting with losses in the preceding years, including a loss of 1.51 crore in March 2020. Profit after tax for March 2025 was 0.11 crore, marking a return to profitability after consecutive losses from March 2021 to March 2024. Total liabilities increased to 2.89 crore in March 2025, up from 0.52 crore in March 2024, while total assets also rose to 2.89 crore, indicating a strengthening of the company's financial position. The book value per share improved to -9.44 in March 2025 from -11.25 in March 2024, reflecting a gradual recovery in shareholder equity. Overall, Shah Foods has shown a positive trend in its latest financial results, suggesting a potential turnaround in its business operations.

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Should I buy, sell or hold Shah Foods Ltd?

03-Feb-2026

Why is Shah Foods Ltd falling/rising?

13-Mar-2026

As of 13-Mar, the stock price of Shah Foods Ltd is stable at Rs 154.35, with a year-to-date increase of 4.61% compared to a 12.50% decrease in the Sensex. Despite its stability, declining trading activity and investor participation may pose challenges moving forward.

As of 13-Mar, the stock price of Shah Foods Ltd is currently stable at Rs 154.35, showing no change (0.00%). Despite this stability, the stock's performance relative to the benchmark Sensex indicates a positive trend over the longer term. Year-to-date, Shah Foods Ltd has increased by 4.61%, while the Sensex has decreased by 12.50%. Over the past year, the stock has risen by 7.04%, contrasting with the Sensex's slight increase of 1.00%.<BR><BR>In the short term, the stock is close to its 52-week high, being only 0.26% away from Rs 154.75. Additionally, it has outperformed its sector by 1.81% today. However, there are signs of erratic trading, as the stock did not trade on 4 out of the last 20 days, and there has been a significant decline in investor participation, with delivery volume dropping by 94.11% compared to the 5-day average.<BR><BR>Overall, while the stock price remains unchanged today, the longer-term performance metrics suggest a rising trend, particularly when compared to the broader market. However, the decline in trading activity and investor participation may indicate potential challenges ahead.

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Why is Shah Foods Ltd falling/rising?

14-Mar-2026

As of 14-Mar, Shah Foods Ltd's stock price is stable at 154.35, but it faces significant financial challenges, including a negative book value and high debt levels. Despite outperforming the Sensex year-to-date, declining investor interest and stagnant sales growth suggest a precarious situation for the stock.

As of 14-Mar, Shah Foods Ltd's stock price is currently stable at 154.35, showing no change (0.00%). Despite this stability, the stock's performance relative to the market indicates underlying challenges. Over the past week and month, the stock has not changed in value, while the Sensex has declined by 5.52% and 9.76%, respectively. Year-to-date, Shah Foods Ltd has outperformed the Sensex, with a return of 4.61% compared to the Sensex's decline of 12.50%. <BR><BR>However, the stock's performance over longer periods reveals a mixed picture. While it has increased by 7.04% over the past year and an impressive 390.00% over three years, the company faces significant financial challenges. It has a negative book value, indicating weak long-term fundamental strength, and its net sales growth has been stagnant. The company's high debt levels, reflected in a debt-to-equity ratio of 0, further complicate its financial health.<BR><BR>Additionally, recent trading activity shows erratic patterns, with the stock not trading on four out of the last twenty days, and a significant drop in delivery volume by 94.11% compared to the five-day average. This decline in investor participation suggests a lack of confidence among investors, which could contribute to the stock's inability to rise despite its historical returns. <BR><BR>In summary, while Shah Foods Ltd's stock price remains unchanged currently, the combination of poor financial fundamentals, high debt, and declining investor interest indicates a precarious situation that could lead to future declines.

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Why is Shah Foods Ltd falling/rising?

15-Mar-2026

As of 15-Mar, the stock price of Shah Foods Ltd is stable at 154.35, with a year-to-date increase of 4.61%. Despite strong long-term performance, recent declines in trading volume and investor participation may affect future price movements.

As of 15-Mar, the stock price of Shah Foods Ltd is currently stable at 154.35, showing no change (0.00%). Despite this stability, the stock has demonstrated a positive performance over the longer term, with a year-to-date increase of 4.61% compared to a decline of 12.50% in the Sensex. Over the past year, the stock has risen by 7.04%, while the Sensex has only increased by 1.00%. <BR><BR>In the three-year and five-year periods, Shah Foods Ltd has significantly outperformed the benchmark, with returns of 390.00% and 329.94%, respectively, compared to 28.03% and 46.80% for the Sensex. This long-term performance suggests a strong underlying value in the stock.<BR><BR>However, there are some concerning indicators. The stock has not traded on four days out of the last 20, indicating erratic trading patterns. Additionally, there has been a notable decline in investor participation, with delivery volume dropping by 94.11% against the five-day average. This decrease in trading activity may contribute to a perception of instability, despite the stock's historical performance.<BR><BR>Overall, while Shah Foods Ltd is not currently rising or falling in price, its strong long-term performance contrasts with recent declines in trading volume and investor participation, which could impact future price movements.

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iScoreScore
Click here to find our call on this stock
Strong Sell
Sell
Hold
Buy
Strong Buy

Dashboard

1

With a Negative Book Value, the company has a Weak Long Term Fundamental Strength

  • Poor long term growth as Net Sales has grown by an annual rate of % and Operating profit at 0% over the last 5 years
  • High Debt Company with a Debt to Equity ratio (avg) at 0 times
2

Flat results in Dec 25

3

Risky - Negative Book Value

stock-summaryMojo Parameters

Mojo Parameters

Loading Valuation Snapshot...

Stock DNA

stock-summary
Industry

FMCG

stock-summary
Market cap

INR 10 Cr (Micro Cap)

stock-summary
P/E

84.00

stock-summary
Industry P/E

64

stock-summary
Dividend Yield

0.00%

stock-summary
Debt Equity

0.41

stock-summary
Return on Equity

-11.00%

stock-summary
Price to Book

-9.22

Revenue and Profits:
Net Sales:
(Quarterly Results - Dec 2025)
Net Profit:
0 Cr
stock-summaryTotal Returns
Total Returns (Price + Dividend) stock-summary
Dividend Yield (0%)
TimePeriod
Price Return
Dividend Return
Total Return
3 Months
0%
0%
0.0%
6 Months
0%
0%
0.0%
1 Year
12.38%
0%
12.38%
2 Years
-17.32%
0%
-17.32%
3 Years
414.44%
0%
414.44%
4 Years
439.27%
0%
439.27%
5 Years
351.39%
0%
351.39%

Latest dividend: 1.0000 per share ex-dividend date: Sep-08-2010

Risk Adjusted Returns v/s stock-summary
Returns Beta
Icon
Beta has not been calculated since enough price history is not available
stock-summaryNews & Corporate Actions

Announcements stock-summary

Shareholder Meeting / Postal Ballot-Scrutinizers Report

07-Mar-2026 | Source : BSE

Please find enclosed voting results.

Shareholder Meeting / Postal Ballot-Outcome of EGM

06-Mar-2026 | Source : BSE

Please find enclosed file.

Draft Letter of Offer

25-Feb-2026 | Source : BSE

Navigant Corporate Advisors Ltd (Manager to the Offer) has submitted to BSE a copy of Draft Letter of Offer for the attention of the equity shareholders of Shah Foods Ltd (Target Company).

Corporate Actions stock-summary

stock-summary
BOARD MEETING

No Upcoming Board Meetings

stock-summary
DIVIDEND

Shah Foods Ltd has declared 10% dividend, ex-date: 08 Sep 10

stock-summary
SPLITS

No Splits history available

stock-summary
BONUS

No Bonus history available

stock-summary
RIGHTS

No Rights history available

stock-summaryKey Factors

Quality key factors stock-summary

Factor
Value
Sales Growth (5y)
0.00%
EBIT Growth (5y)
0.00%
EBIT to Interest (avg)
0
Debt to EBITDA (avg)
Negative Net Debt
Net Debt to Equity (avg)
0.41
Sales to Capital Employed (avg)
0
Tax Ratio
Tax Ratio is Negative%
Dividend Payout Ratio
0
Pledged Shares
0
Institutional Holding
0
ROCE (avg)
-28.89%
ROE (avg)
0

Valuation key factors

Factor
Value
P/E Ratio
84
Industry P/E
64
Price to Book Value
-9.22
EV to EBIT
8.81
EV to EBITDA
8.81
EV to Capital Employed
-8.56
EV to Sales
2.33
PEG Ratio
NA
Dividend Yield
NA
ROCE (Latest)
Negative Capital Employed
ROE (Latest)
Negative BV

Technicals key factors

Indicator
Weekly
Monthly
MACD
Mildly Bullish
Mildly Bearish
RSI
Bearish
No Signal
Bollinger Bands
Mildly Bullish
Mildly Bearish
Moving Averages
Mildly Bearish (Daily)
KST
Mildly Bullish
Mildly Bearish
Dow Theory
No Trend
No Trend
OBV
No Trend
No Trend
stock-summary Technical Indicator Scale: Bearish, Mildly Bearish, Sideways, Mildly Bullish, Bullish  Turned 
stock-summaryShareholding
Shareholding Snapshot : Dec 2025stock-summary
Shareholding Compare (%holding) stock-summary
Majority shareholders

Non Institution

Pledged Promoter Holdings

None

Mutual Funds

Held by 0 Schemes

FIIs

Held by 0 FIIs

Promoter with highest holding

Kirtiben Rajeshkumar Patel (8.37%)

Highest Public shareholder

Pradeep Porwal (7.93%)

Individual Investors Holdings

48.48%

stock-summaryFinancial
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          "field": "Operating Profit Margin (Excl OI)",
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    "alert": "No Half Yearly Results declared by Shah Foods"
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    "alert": "No Nine Monthly Results declared by Shah Foods"
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          "field": "Interest",
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Quarterly Results Snapshot (Standalone) - Dec'25 - YoYstock-summary

Dec'25
Dec'24
Change(%)
Net Sales
0.00
0.52
-100.00%
Operating Profit (PBDIT) excl Other Income
-0.05
-0.02
-150.00%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Standalone Net Profit
-0.05
-0.02
-150.00%
Operating Profit Margin (Excl OI)
0.00%
-3.85%
3.85%
Values in Rs Cr.
Direction Arrows
Net Sales

YoY Growth in quarter ended Dec 2025 is -100.00% vs 0.00% in Dec 2024

Direction Arrows
Standalone Net Profit

YoY Growth in quarter ended Dec 2025 is -150.00% vs 0.00% in Dec 2024

Annual Results Snapshot (Consolidated) - Mar'25stock-summary

Mar'25
Mar'24
Change(%)
Net Sales
3.78
0.00
Operating Profit (PBDIT) excl Other Income
0.11
-0.22
150.00%
Interest
0.00
0.00
Exceptional Items
0.00
0.00
Consolidate Net Profit
0.11
-0.22
150.00%
Operating Profit Margin (Excl OI)
2.88%
0.00%
2.88%
Values in Rs Cr.
Net Sales

YoY Growth in year ended Mar 2025 is 0.00% vs 0.00% in Mar 2024

Direction Arrows
Consolidated Net Profit

YoY Growth in year ended Mar 2025 is 150.00% vs -4.76% in Mar 2024

stock-summaryCompany CV
About Shah Foods Ltd stock-summary
stock-summary
Shah Foods Ltd
Micro Cap
FMCG
Shah Foods Ltd was incorporated on March 18, 1982. The company is engaged in the food processing business. They manufacture and sale of biscuits in India and supply their products to Britannia Industries Ltd. The company is an ISO: 22000-2005 certified company. They are having their manufacturing facility located at Gandhinagar in Gujarat with an installed capacity of 9,000 MTPA biscuits mainly for Britannia Industries.
Company Coordinates stock-summary
Company Details
Block No 453/1, Kalol-Mehsana Highway Gandhinagar Gujarat : 382729
stock-summary
Tel: 91-2764-233931/932
stock-summary
shahfood.ahmedabad@gmail.com
Registrar Details
Bigshare Services Pvt Ltd , E-2 , Ansa Industrial Estate, Saki Vihar Road, Saki Naka, Andheri (E), Mumbai