How has been the historical performance of Tasty Bite Eat.?

Revenue and Profitability Trends

Over the seven-year period ending March 2025, Tasty Bite Eat. has seen its net sales rise from ₹336.09 crores in 2019 to ₹553.14 crores in 2025, marking a significant expansion in its top line. The total operating income followed a similar upward trend, reaching ₹554.41 crores in the latest fiscal year. Despite this growth, operating profit margins excluding other income have shown variability, peaking at nearly 14% in 2021 and 2024 but declining to 9.36% in 2025. Gross profit margins also contracted from a high of 18.14% in 2021 to 11.6% in 2025, indicating rising costs or pricing pressures.

Profit after tax (PAT) has mirrored this pattern, with a peak of ₹41.52 crores in 2024 before falling to ₹25.61 crores in 2025. Correspondingly, the PAT margin dropped from 10.23% in 2021 to 4.63% in 2025. Earnings per share (EPS) followed suit, reaching a high of 161.56 in 2024 before declining to 99.65 in 2025. These fluctuations suggest that while the company has expanded its revenue base, profitability has been challenged by cost pressures and possibly competitive market conditions.

Cost Structure and Expenditure

The company’s raw material costs have increased in line with sales, rising from ₹209.83 crores in 2019 to ₹360.93 crores in 2025. Employee costs have also grown steadily, reflecting possible expansion in workforce or wage inflation. Other expenses have escalated from ₹58.25 crores in 2019 to ₹96.18 crores in 2025, contributing to the pressure on operating margins. Notably, the company has maintained negligible power and selling expenses, which may indicate operational efficiencies or cost control in these areas.

Balance Sheet and Financial Position

Tasty Bite Eat.’s shareholder funds have strengthened considerably, rising from ₹163.14 crores in 2020 to ₹311.31 crores in 2025. Reserves have similarly increased, supporting the company’s equity base. Total liabilities have remained relatively stable around ₹440-450 crores in recent years, with a marked reduction in total debt from ₹106.35 crores in 2021 to ₹26.70 crores in 2025, signalling improved leverage and financial health.

On the asset side, net block values have grown steadily, reflecting ongoing investments in fixed assets. Capital work in progress has fluctuated but remains significant, indicating continued expansion or upgrades. Current assets have increased to ₹209.11 crores in 2025, with inventories and sundry debtors rising moderately, which may reflect higher sales volumes and working capital requirements.

Cash Flow Analysis

Cash flow from operating activities has generally improved, reaching ₹39 crores in 2025 compared to ₹36 crores in 2020. However, net cash inflows have been modest, with some years showing outflows due to investing and financing activities. The company has consistently invested in capital expenditure, as seen in negative cash flows from investing activities, while financing cash flows have varied, including debt repayments and other financing adjustments. Closing cash and cash equivalents have increased to ₹15 crores in 2025, providing a reasonable liquidity buffer.

Summary of Historical Performance

In summary, Tasty Bite Eat. has exhibited robust revenue growth over the past several years, nearly doubling its net sales since 2019. The company has expanded its asset base and strengthened its equity position while reducing debt levels significantly. However, profitability margins have been under pressure, with operating and net margins declining in the most recent fiscal year. Cash flow from operations remains positive, supporting ongoing investments and debt servicing. Investors should weigh the company’s growth potential against margin volatility and cost challenges when considering its historical performance.

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