Aveer Foods - Aveer Foods

📊 BSE: 543737 🏢 Packaged Foods 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

Total revenue from operations reached INR 108.52 Cr in FY25, representing a 12.57% YoY growth from INR 96.40 Cr. Growth was broad-based across Indian meal accompaniments including pickles, chutneys, and papads, delivering double-digit growth in both volume and value terms.

Geographic Revenue Split

Not explicitly disclosed, but the company operates a distribution network across all key Indian states and adheres to EU and USFDA standards for international customers, indicating an export presence.

Profitability Margins

Net profit margin improved significantly to 3.63% in FY25 from 1.30% in FY24, a 179% increase. Profit After Tax (PAT) surged by 224.6% to INR 3.97 Cr compared to INR 1.22 Cr in the previous year.

EBITDA Margin

EBITDA (Profit before Depreciation & Interest) stood at INR 7.95 Cr, yielding a margin of 7.3% of total income, up from 5.9% (INR 5.69 Cr) in FY24.

Capital Expenditure

Not disclosed in absolute INR Cr for future plans, but the company invested in SAP ERP systems, data analytics tools, and achieved FSSC 22000 certification for its Shirwal plant in 2022.

Credit Rating & Borrowing

The company achieved a zero-debt status with a Debt-Equity ratio of 0.00 in FY25, down from 0.15 in FY24. Finance costs decreased by 78% YoY to INR 0.25 Cr.

⚙️ Operational Drivers

Raw Materials

Key raw materials include agricultural produce such as mangoes, lemons, fruits, and vegetables, along with packaging materials, fuel, and energy.

Import Sources

Sourced primarily from local farms in Maharashtra (Pune, Satara) and Karnataka (Dharwad), supporting Farmer Producer Organizations (FPOs).

Key Suppliers

Not disclosed.

Capacity Expansion

Current facilities are located at Hadapsar (Pune), Shirwal, Village Sanghvi (Satara), and Belur Industrial Area (Dharwad). Specific MTPA capacity is not disclosed.

Raw Material Costs

Raw material price volatility is identified as a key risk to operating margins. The company employs multi-vendor sourcing and long-term contracts to mitigate cost fluctuations.

Manufacturing Efficiency

Inventory turnover ratio improved by 22% to 2.88 in FY25, reflecting enhanced efficiency in stock management and sales velocity.

Logistics & Distribution

Distribution network includes 1,500+ distributors across India, with a target to reach more than 3 lakh outlets.

📈 Strategic Growth

Expected Growth Rate

12.7%

Growth Strategy

Growth will be driven by scaling the distribution network to 3 lakh+ outlets, revamping the product portfolio, and expanding into the Chinese meal accompaniment segment (sauces and chutneys). The company is also leveraging its 60-year legacy to capture the shift from unbranded to branded packaged foods.

Products & Services

Pickles, Ketchups, Sauces, Chutneys, handmade Papads, machine-made Papads, and culinary pastes.

Brand Portfolio

Aveer.

New Products/Services

Expansion into Chinese cuisine accompaniments, specifically new chutneys and sauces range.

Market Expansion

Targeting a distribution reach of more than 3 lakh outlets across India.

Market Share & Ranking

Not disclosed.

Strategic Alliances

Partnerships with Farmer Producer Organizations (FPOs) to ensure a safe supply chain and good agricultural practices.

🌍 External Factors

Industry Trends

The food processing industry is growing at a double-digit rate, driven by a shift toward branded, pre-packed meal accompaniments. Companies are increasingly adopting AI for supply chain efficiency and focusing on sustainability, such as the RUCO project for biodiesel.

Competitive Landscape

Intense competition from both organized branded players and unorganized local manufacturers in the meal accompaniment segment.

Competitive Moat

A 60-year legacy of quality and trust, coupled with FSSC 22000 certification and a distribution network of 1,500+ partners, provides a significant competitive advantage in the branded meal accompaniment market, making it difficult for new entrants to replicate the supply chain and brand equity.

Macro Economic Sensitivity

Sensitive to agricultural cycles and inflation in food prices, which impact raw material procurement costs.

Consumer Behavior

Shift toward branded, pre-packed, and health-focused food products with proven traceability and safety standards.

Geopolitical Risks

Exposure to global supply chain disruptions that may affect the availability of specialized packaging or export logistics.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with FSSAI, Food Safety and Standards Act 2006, Legal Metrology Act 2009, and international EU/USFDA standards for exports.

Environmental Compliance

Implementation of RUCO (Repurpose Used Cooking Oil) for biodiesel, plastic waste recycling through certified vendors, and planning for a Zero Liquid Discharge (ZLD) system.

Taxation Policy Impact

Effective tax provision of INR 41.76 Lakh for FY25, approximately 9.6% of Profit Before Tax.

Legal Contingencies

The company is undergoing a suo-moto adjudication process for penalties under Section 454 of the Companies Act, 2013, due to non-adherence to Section 150 timelines. The final financial impact is currently unascertainable.

⚠️ Risk Analysis

Key Uncertainties

Raw material price volatility (mangoes, lemons) and potential supply chain disruptions are the primary uncertainties that could impact margins by 5-10%.