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Compare up to 10 companies side by side across valuation, profitability, and growth.

WORL
VS
| Quarter | Jun 2022 | Sep 2022 | Dec 2022 | Jun 2023 | Sep 2023 | Dec 2023 | Jun 2024 | Sep 2024 | Dec 2024 |
|---|
|
Growth YoY Revenue Growth YoY% | 2,249.8 | 1,661.7 | -16.6 | -142.2 | -100.0 | -100.0 | -100.0 | 100.0 | | | | |
| 136 | 94 | 48 | 0 | 0 | 28 | 0 | 0 | 68 | 0 | 0 | 2 |
Operating Profit Operating ProfitCr |
| 1.5 | 1.1 | 4.2 | 101.8 | | | | | | | | -55.3 |
Other Income Other IncomeCr | 0 | 0 | 0 | 5 | 0 | 1 | 0 | 6 | 0 | 53 | 0 | -1 |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 1 | 0 | 1 | 1 | 4 | 0 | 0 | 0 | 0 |
| 2 | 1 | 2 | -9 | -1 | -28 | 0 | 2 | -68 | 53 | 0 | -2 |
| 0 | 1 | 1 | -1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
|
Growth YoY PAT Growth YoY% | 422.5 | 71.4 | -72.7 | -307.0 | -144.5 | -3,987.5 | -114.8 | 123.3 | -7,208.6 | 289.5 | 23.8 | -194.7 |
| 1.5 | 0.8 | 2.8 | 58.5 | | | | | | | | -171.8 |
| 0.6 | 0.2 | 0.4 | -2.5 | -0.3 | -8.6 | -0.1 | 0.6 | -20.8 | 16.2 | -0.1 | -0.5 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
|
| | 34.3 | 5,714.5 | 93.4 | -57.0 | -11.8 | 24.6 | 262.3 | -100.0 | |
| 1 | 2 | 80 | 159 | 71 | 62 | 68 | 279 | 29 | 2 |
Operating Profit Operating ProfitCr |
| 32.3 | -18.3 | 4.0 | 1.0 | -2.5 | -1.5 | 10.3 | -1.5 | | -134.9 |
Other Income Other IncomeCr | 0 | 1 | 1 | 1 | 2 | 1 | 1 | 1 | 7 | |
Interest Expense Interest ExpenseCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Depreciation DepreciationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 6 | 0 |
| 0 | 1 | 4 | 3 | 0 | 0 | 9 | -4 | -27 | -17 |
| 0 | 0 | 1 | 1 | 0 | 0 | 3 | 0 | 0 | 0 |
|
| | 145.6 | 415.4 | -40.6 | -90.5 | 42.8 | 2,641.0 | -156.6 | -619.7 | 38.1 |
| 22.5 | 41.1 | 3.6 | 1.1 | 0.3 | 0.4 | 8.8 | -1.4 | | -1,637.9 |
| 238.9 | 8.2 | 42.1 | 6.0 | 0.1 | 0.1 | 0.7 | -1.2 | -8.3 | -5.2 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Equity Capital Equity CapitalCr | 0 | 0 | 0 | 3 | 5 | 11 | 11 | 33 | 33 | 33 |
| 1 | 1 | 4 | 18 | 31 | 26 | 32 | 7 | -21 | -37 |
Current Liabilities Current LiabilitiesCr | 12 | 13 | 46 | 35 | 28 | 13 | 5 | 260 | 62 | 14 |
Non Current Liabilities Non Current LiabilitiesCr | 0 | 0 | 0 | 0 | 5 | 7 | 0 | 0 | 0 | 0 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 1 | 3 | 40 | 44 | 57 | 40 | 37 | 289 | 70 | 9 |
Non Current Assets Non Current AssetsCr | 12 | 12 | 10 | 11 | 12 | 16 | 11 | 10 | 4 | 0 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 0 | -1 | -5 | -1 | -25 | 3 | 2 | -2 | -12 | -4 |
Investing Cash Flow Investing Cash FlowCr | 0 | 1 | 3 | 2 | 7 | -1 | 6 | -1 | 13 | 4 |
Financing Cash Flow Financing Cash FlowCr | 0 | 0 | 3 | 2 | 16 | -2 | -7 | 0 | 0 | 0 |
|
Free Cash Flow Free Cash FlowCr | 0 | -1 | -5 | -1 | -25 | 3 | 2 | -2 | -12 | |
| 118.9 | -136.0 | -172.2 | -37.7 | -14,851.1 | 1,202.8 | 35.5 | 40.6 | 45.7 | 24.3 |
CFO To EBITDA CFO To EBITDA% | 82.9 | 305.4 | -157.4 | -42.6 | 1,465.6 | -327.8 | 30.4 | 37.5 | 43.1 | 295.0 |
| Financial Year | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 0 | 60 | 38 | 642 | 89 | 22 | 16 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 0.0 | 354.8 | 159.1 | 96.0 | 0.0 | 0.0 | -0.9 |
Price To Sales Price To Sales | | 0.0 | 0.0 | 0.0 | 0.9 | 0.6 | 8.5 | 0.3 | | 15.5 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 0.0 | 1.6 | 1.1 | 14.8 | 2.3 | 1.8 | -3.4 |
| 34.0 | -43.7 | 4.3 | -1.2 | -38.3 | -49.3 | 81.8 | -21.6 | -0.8 | -11.0 |
Profitability Ratios Profitability Ratios |
| 100.0 | 14.9 | 4.5 | 2.2 | -0.8 | 0.3 | 11.6 | -1.1 | | 4.8 |
| 32.3 | -18.3 | 4.0 | 1.0 | -2.5 | -1.5 | 10.3 | -1.5 | | -134.9 |
| 22.5 | 41.1 | 3.6 | 1.1 | 0.3 | 0.4 | 8.8 | -1.4 | | -1,637.9 |
| 2.8 | 6.7 | 23.1 | 11.3 | 0.5 | 0.8 | 21.3 | -8.5 | -224.7 | 357.4 |
| 27.0 | 39.9 | 67.3 | 8.7 | 0.5 | 0.7 | 15.5 | -9.6 | -224.1 | 357.4 |
| 1.9 | 4.0 | 6.0 | 3.3 | 0.3 | 0.4 | 13.9 | -1.3 | -36.9 | -186.6 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
White Organic Retail Limited (WORL) is an integrated organic foods and wellness lifestyle company operating across a vertically aligned value chain—from organic farming and supply chain management to retail, distribution, and direct-to-consumer (D2C) sales. Promoted by **Suumaya Retail Limited**, a wholly-owned subsidiary of **Suumaya Industries Limited**, WORL has evolved from a niche organic agro-retailer into a diversified wellness platform under new management and strategic restructuring.
The company operates under a "Seed to Fork" framework and is transitioning into a full-stack wellness ecosystem through the **Diva Organic Living Limited** umbrella, targeting **India’s Gen Z and Millennial women** with a focus on **authenticity, conscious living, and female-first community engagement**.
---
### **Core Business Segments & Brand Portfolio**
#### **1. Organic Foods & Retail (Legacy Business)**
- **Product Range**: Over 250 SKUs including organic vegetables, fruits, pulses, grains, cooking oils, spices, snacks, dietary supplements, syrups, churans, capsules, and health powders.
- **Branding**: Unified under the **"White Organics"** brand since 2020, with a phased rollout to strengthen brand recognition and streamline marketing.
- **Sourcing**: Contracts or leases with **over 120 organic farmers** in **Maharashtra and Gujarat**, ensuring consistent, high-quality supply.
- **Supply Chain**: Technology-driven logistics to maintain freshness, reduce waste, and ensure timely delivery. Strategic partnerships with **Zomato, Swiggy, and third-party logistics providers**.
- **Distribution Channels**:
- Retail stores and franchisee model (targeting 40+ outlets in health-conscious urban areas)
- E-commerce platforms: **Own website (whiteorganics.in)**, mobile apps (iOS/Android), and marketplaces like **Big Basket, Grofers, Amazon**
- B2B supply to premium restaurants in Mumbai
> ☢️ **Recent Setback (Mar–Aug 2025)**:
Turnover dropped to **zero** in the current fiscal year due to **supply chain disruptions, raw material procurement delays, regulatory changes, and market fluctuations**, halting production and order fulfillment. Recovery is ongoing.
---
#### **2. Wellness & Lifestyle Expansion (Diva Organic Living Platform)**
Under the rebranded strategic vision via **Diva Organic Living Limited**, WORL is consolidating multiple high-growth wellness verticals into one female-first platform.
| Brand | Category | Key Details |
|-------|--------|-----------|
| **Diva Yoga** | Fitness/Community | Foundation of the ecosystem; has **7,000+ members** and **NPS of 82**; anchors community-driven growth and customer retention. |
| **DivaFit** | Activewear | Premium, size-inclusive (XS–4XL), performance-driven apparel. Launch scheduled for **October 2025**. Positioned at the intersection of wellness and fashion. |
| **Flook** | Functional Foods & Ready-to-Cook | Targets **Gen Z women** with mood-enhancing snacks and **pre-prepped produce**. D2C model with community sampling. Launched in **Mumbai (Aug 2025)**, expanding to Pune and Goa. Addresses trend where **>58% of urban Indians prioritize health over taste**. |
| **Diva Veda** | Ayurvedic Skincare | Modern, **clean beauty Ayurvedic brand** with **14 SKUs** developed in Kerala. Targets women seeking natural, heritage-rooted skincare. Currently live in Kerala. |
| **HerNest Living** | Women-Only Hospitality | Offers **1BHK apartments in Siolim, Goa**, for safe, aesthetic, and community-oriented travel. Caters to independent female travelers and digital nomads. Currently operational. |
| **Aranyani Living** | Wellness Retreats | Luxury nature-immersive stays inspired by the forest goddess Aranyani. Focuses on **stillness, restoration, and intentional living**. Two of three planned properties are live in Goa. |
---
### **Strategic Direction & Expansion Plans**
#### **Vertical Integration & Market Consolidation**
- Aims to become India’s leading **integrated wellness platform** by unifying fitness, nutrition, skincare, apparel, and hospitality under one brand ecosystem.
- Leverages **Diva Yoga’s strong community base** to drive cross-category customer acquisition and retention.
- Uses **celebrity influence and culturally resonant branding** to enhance visibility and emotional connection.
#### **E-Commerce & Omnichannel Growth**
- Developing proprietary **e-commerce website and mobile app** to unify D2C sales across brands.
- Transitioning from third-party reliance to **full-stack digital control** to improve margins and customer data ownership.
- Continuing export ambitions, with earlier inquiries from developing nations; focus now includes GCC and Southeast Asia.
#### **Sustainability & Social Impact**
- Promotes **sustainable organic farming** practices that improve soil health, reduce synthetic input dependency, and support long-term yields.
- Educating consumers in **Tier 2, Tier 3 cities**, and rural India about the benefits of organic living to bridge demand-supply gaps.
- Investigated expansion into **renewable energy and waste management** (e.g., biogas, waste-to-energy) in earlier plans (2023), though current focus is on core wellness verticals.
#### **Farm Expansion & Procurement Strategy**
- Signed leases in **Nashik (Maharashtra)** and expanded operations in **Mehsana (Gujarat)** for strategic proximity to Mumbai and Pune.
- Invested INR 300 million in expanding organic farming across **800+ acres** via lease/acquisition.
- Exploring **strategic partnerships with major agro players** to strengthen procurement for FMCG organic lines.
---
### **Leadership & Founding Insight**
- **Mr. Minkal K. Doshi** (37, Commerce Graduate, Mumbai):
- Founder and driving force behind WORL’s organic farming operations.
- Transitioned from **real estate to organic farming in 2009**, starting with **vertical farming of turmeric**.
- Expanded operations to include **moringa, drumsticks, and chilli** in Mehsana, Gujarat.
- Vision: Advance **high-tech vertical farming** to address future global food security needs.
> Note: Mr. Doshi stepped back from active management during a leadership transition in **Q1 2025**, with **Suumaya Group** assuming greater strategic control.
---
### **Corporate Developments**
- **Acquisition & Integration**: Acquired by **Suumaya Retail Limited** (2022), enabling access to a broader agri-value chain and pan-India sourcing capabilities.
- **Rebranding & Restructuring**: As of August 2025, the company's strategic direction is fully refocused under **Diva Organic Living Limited**, with **WORL acting as the operational and manufacturing backbone**.
- **Management Change (Mar 2025)**:
- Shift to **internally generated cash flow** for expansion.
- New leadership with **retail and consumer brand expertise**.
- Focus on **lean operations, digital transformation, and organic (non-dilutive) growth**.