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Tasty Bite Eatables Ltd

TASTYBITE·NSE
9,829.00+0.32%Tue, 22 Sept '26 15:50

Tasty Bite Eatables Ltd

TASTYBITE
NSE
9,829.00
+0.32%
|Tue, 22 Sept '26 15:50
SOICxStockScans Reports
6M
Price
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Quick Ratios

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Mkt Cap
Market Capitalization
2,515Cr
Close
Close Price
9,800.00
Industry
Industry
FMCG - Contract Mfg
PE
Price To Earnings
69.95
PS
Price To Sales
4.31
Revenue
Revenue
583Cr
Rev Gr TTM
Revenue Growth TTM
-1.17%
PAT Gr TTM
PAT Growth TTM
-4.08%

Quarterly Results

Standalone
Numbers
Percentage
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
14513310985157179134121133177118156
Growth YoY
Revenue Growth YoY%
2.125.8-0.7-44.58.134.722.842.0-15.2-0.9-12.028.6
Expenses
ExpensesCr
12512010184140156123105124151107141
Operating Profit
Operating ProfitCr
201382172311169261115
OPM
OPM%
13.79.97.61.910.612.78.212.96.614.89.59.5
Other Income
Other IncomeCr
544265546666
Interest Expense
Interest ExpenseCr
212122112111
Depreciation
DepreciationCr
787787778888
PBT
PBTCr
1583-51418711523812
Tax
TaxCr
421-145131623
PAT
PATCr
1163-410136841769
Growth YoY
PAT Growth YoY%
19.465.8-72.1-117.3-11.3108.5142.8321.9-64.134.2-2.97.9
NPM
NPM%
7.84.72.3-4.36.47.34.66.82.79.95.15.7
EPS
EPS
44.324.39.9-14.439.350.824.131.914.168.123.434.5
QuarterSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue
RevenueCr
14513310985157179134121133177118156
Growth YoY
Revenue Growth YoY%
2.125.8-0.7-44.58.134.722.842.0-15.2-0.9-12.028.6
Expenses
ExpensesCr
12512010184140156123105124151107141
Operating Profit
Operating ProfitCr
201382172311169261115
OPM
OPM%
13.79.97.61.910.612.78.212.96.614.89.59.5
Other Income
Other IncomeCr
544265546666
Interest Expense
Interest ExpenseCr
212122112111
Depreciation
DepreciationCr
787787778888
PBT
PBTCr
1583-51418711523812
Tax
TaxCr
421-145131623
PAT
PATCr
1163-410136841769
Growth YoY
PAT Growth YoY%
19.465.8-72.1-117.3-11.3108.5142.8321.9-64.134.2-2.97.9
NPM
NPM%
7.84.72.3-4.36.47.34.66.82.79.95.15.7
EPS
EPS
44.324.39.9-14.439.350.824.131.914.168.123.434.5

Profit & Loss

Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
196252296337426385372476540554549583
Growth
Revenue Growth%
17.528.817.413.826.4-9.5-3.427.813.62.6-1.0-1.2
Expenses
ExpensesCr
174210249291381332339412466503487522
Operating Profit
Operating ProfitCr
214348464554346474526261
OPM
OPM%
11.016.916.113.610.514.09.013.413.79.311.310.4
Other Income
Other IncomeCr
1337182919131418192324
Interest Expense
Interest ExpenseCr
232443897665
Depreciation
DepreciationCr
7911131717242730303131
PBT
PBTCr
253441475353144156344848
Tax
TaxCr
812151712134111491212
PAT
PATCr
162226304139103042263536
Growth
PAT Growth%
49.436.420.313.635.9-3.7-73.8192.537.4-38.337.9-4.1
NPM
NPM%
8.28.78.98.99.610.22.86.37.74.66.46.2
EPS
EPS
62.885.7103.1117.2159.2153.340.3117.7161.899.8137.6140.1
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Revenue
RevenueCr
196252296337426385372476540554549583
Growth
Revenue Growth%
17.528.817.413.826.4-9.5-3.427.813.62.6-1.0-1.2
Expenses
ExpensesCr
174210249291381332339412466503487522
Operating Profit
Operating ProfitCr
214348464554346474526261
OPM
OPM%
11.016.916.113.610.514.09.013.413.79.311.310.4
Other Income
Other IncomeCr
1337182919131418192324
Interest Expense
Interest ExpenseCr
232443897665
Depreciation
DepreciationCr
7911131717242730303131
PBT
PBTCr
253441475353144156344848
Tax
TaxCr
812151712134111491212
PAT
PATCr
162226304139103042263536
Growth
PAT Growth%
49.436.420.313.635.9-3.7-73.8192.537.4-38.337.9-4.1
NPM
NPM%
8.28.78.98.99.610.22.86.37.74.66.46.2
EPS
EPS
62.885.7103.1117.2159.2153.340.3117.7161.899.8137.6140.1

Balance Sheet

Standalone
Numbers
Percentage
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
33333333333
Reserves
ReservesCr
587297129161204215241284309339
Current Liabilities
Current LiabilitiesCr
44525358101120106125827894
Non Current Liabilities
Non Current LiabilitiesCr
264339353612110892786639
Total Liabilities
Total LiabilitiesCr
131170192225300448431461447455475
Current Assets
Current AssetsCr
6889106121150200159185180209243
Non Current Assets
Non Current AssetsCr
638186104149248272276266246233
Total Assets
Total AssetsCr
131170192225300448431461447455475
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
Equity CapitalCr
33333333333
Reserves
ReservesCr
587297129161204215241284309339
Current Liabilities
Current LiabilitiesCr
44525358101120106125827894
Non Current Liabilities
Non Current LiabilitiesCr
264339353612110892786639
Total Liabilities
Total LiabilitiesCr
131170192225300448431461447455475
Current Assets
Current AssetsCr
6889106121150200159185180209243
Non Current Assets
Non Current AssetsCr
638186104149248272276266246233
Total Assets
Total AssetsCr
131170192225300448431461447455475

Cash Flow

Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1512215637406561673959
Investing Cash Flow
Investing Cash FlowCr
-7-24-7-30-52-56-47-34-16-12-6
Financing Cash Flow
Financing Cash FlowCr
-611-12-231543-49-18-56-20-41
Net Cash Flow
Net Cash FlowCr
1-122027-3110-5712
Free Cash Flow
Free Cash FlowCr
9-141125-15-162323502651
CFO To PAT
CFO To PAT%
92.355.980.0184.890.1101.8629.0202.1160.9153.1167.1
CFO To EBITDA
CFO To EBITDA%
69.328.844.5121.282.574.5193.595.590.075.895.4
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow
Operating Cash FlowCr
1512215637406561673959
Investing Cash Flow
Investing Cash FlowCr
-7-24-7-30-52-56-47-34-16-12-6
Financing Cash Flow
Financing Cash FlowCr
-611-12-231543-49-18-56-20-41
Net Cash Flow
Net Cash FlowCr
1-122027-3110-5712
Free Cash Flow
Free Cash FlowCr
9-141125-15-162323502651
CFO To PAT
CFO To PAT%
92.355.980.0184.890.1101.8629.0202.1160.9153.1167.1
CFO To EBITDA
CFO To EBITDA%
69.328.844.5121.282.574.5193.595.590.075.895.4

Ratios

Standalone
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
4341,1951,9152,1452,3093,6932,7882,0603,1582,1071,6742,515
Price To Earnings
Price To Earnings
26.954.672.471.356.593.9269.968.276.082.347.470.0
Price To Sales
Price To Sales
2.24.76.56.45.49.67.54.35.83.83.04.3
Price To Book
Price To Book
7.216.119.316.314.217.912.88.511.06.84.97.3
EV To EBITDA
EV To EBITDA
21.629.240.947.353.071.387.034.143.641.827.341.9
Profitability Ratios
Profitability Ratios
GPM
GPM%
31.832.332.428.823.427.523.826.527.324.926.926.9
OPM
OPM%
11.016.916.113.610.514.09.013.413.79.311.310.4
NPM
NPM%
8.28.78.98.99.610.22.86.37.74.66.46.2
ROCE
ROCE%
27.927.231.831.425.114.66.413.316.810.613.913.9
ROE
ROE%
26.829.626.622.825.119.04.812.414.58.210.310.3
ROA
ROA%
12.313.013.813.413.68.82.46.59.35.67.47.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
Financial YearMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Current
Valuation Ratios
Valuation Ratios
Market Cap
Market CapitalizationCr
4341,1951,9152,1452,3093,6932,7882,0603,1582,1071,6742,515
Price To Earnings
Price To Earnings
26.954.672.471.356.593.9269.968.276.082.347.470.0
Price To Sales
Price To Sales
2.24.76.56.45.49.67.54.35.83.83.04.3
Price To Book
Price To Book
7.216.119.316.314.217.912.88.511.06.84.97.3
EV To EBITDA
EV To EBITDA
21.629.240.947.353.071.387.034.143.641.827.341.9
Profitability Ratios
Profitability Ratios
GPM
GPM%
31.832.332.428.823.427.523.826.527.324.926.926.9
OPM
OPM%
11.016.916.113.610.514.09.013.413.79.311.310.4
NPM
NPM%
8.28.78.98.99.610.22.86.37.74.66.46.2
ROCE
ROCE%
27.927.231.831.425.114.66.413.316.810.613.913.9
ROE
ROE%
26.829.626.622.825.119.04.812.414.58.210.310.3
ROA
ROA%
12.313.013.813.413.68.82.46.59.35.67.47.4
Operational Ratios
Operational Ratios
Solvency Ratios
Solvency Ratios
Liquidity Ratios
Liquidity Ratios
- **Tasty Bite Eatables is the company that put Indian food on American supermarket shelves - it makes ready-to-eat curries, rice bowls, and frozen snacks that need nothing more than a microwave. Founded in 1985 near Pune as a sick industrial unit that founder Ashok Vasudevan turned around, it pioneered retort technology (a method of sterilising food in sealed pouches so it stays fresh without refrigeration) in India in 1987, and has since grown into the largest brand of prepared Indian meals in the United States. Acquired by Mars Food in 2017, the company now operates with a single integrated manufacturing engine that powers three distinct go-to-market channels - a branded retail export business, a food-service kitchen for restaurant chains, and a gourmet snacking range - all built on the same factory, the same supply chain, and the same R&D kitchen.** # Business segments Three channels fed by one factory - a dominant American retail brand, a behind-the-scenes partner to global quick-service chains, and a clean-label snacking range for cafés - each drawing on the same integrated manufacturing and innovation engine. ## 1. Consumer Business: the brand that owns the Indian aisle in America **Tasty Bite is the largest brand of prepared Indian food in the US, with a market share of over 60% in grocery and 59% in natural foods, selling shelf-stable, chilled, and frozen meals that are 100% vegetarian, preservative-free, and largely organic.** - **A pioneer in retort pouches** - the company was the first in India to use retort technology for commercial food sterilisation, which means its entrées sit on a shelf for up to 18 months without refrigeration or preservatives, making them easy to stock in any grocery aisle. - **Sold through Mars affiliates, not directly** - sales and marketing for North America are handled by Preferred Brands International Inc., while Mars covers Europe, Australia, and Canada, so Tasty Bite focuses on making the food and leaves the shelf to its parent’s network. - **Organic at scale** - over 60 organic SKUs, including staples like Organic Madras Lentils, make the brand largely known as organic; the company is one of the largest value-added organic processors and exporters from India. - **A new direct-to-consumer play in India** - in 2025 the company launched ‘CHEFFIN’ on Amazon, a range of ready-to-cook meal kits like Butter Chicken and Dal Makhani, marking its entry into India’s e-commerce-first consumer market. ## 2. Tasty Bite Food Service: the kitchen behind the counter **TFS designs and manufactures bespoke sauces, gravies, and frozen patties for over 50 quick-service restaurant chains, cloud kitchens, and hotels - it is the “brand behind the brands” that powers menu items at KFC, Burger King, Pizza Hut, and Subway.** - **A solutions partner, not just a supplier** - the company creates custom products like the Molten Lava Cheese patty for Burger King and Hot & Smokey Paneer for Pizza Hut, which means it competes on R&D and culinary skill rather than on price alone. - **Frozen formed products are the growth engine** - this sub-category expanded 42% in FY25, driven by burger patties, appetisers, and finger foods that QSRs need in consistent, large volumes. - **No long-term contracts** - customers can stop buying with little notice, so the business is built on repeat performance: delivering quality and innovation quarter after quarter to retain QSR partners where Tasty Bite has 50-60% SKU presence. - **Expanding beyond India’s borders** - the food-service arm now serves clients in Southeast Asia and the Middle East, with specialty vegetarian products gaining traction in those markets. ## 3. Tasty Bite Xclusive: a clean-label snacking range for modern cafés **TBX is a compact range of 20 gourmet starters and patties - like Cheesy Jalapeno Bites and Paneer Double Decker - made with all-natural ingredients, zero trans-fat, and no preservatives, aimed at independent restaurants and lounges.** - **Designed for the health-conscious menu** - the range caters to vegetarian, vegan, gluten-free, and organic dietary needs, which helps cafés and lounges offer “better-for-you” snacking without building recipes from scratch. # Manufacturing and supply chain: the single-factory moat **All three channels run off one 32-acre integrated facility in Pune with 13 production lines, four manufacturing technologies, and an installed capacity of over 59,000 tonnes - a concentration that creates efficiency but also a key operational risk.** - **Four technologies under one roof** - retort sterilisation, individual quick freezing (IQF), hot-fill processing for sauces, and cold blending let the company produce shelf-stable, chilled, and frozen formats from the same plant, which few competitors can match. - **Farm-to-factory sourcing** - 94% of raw materials come from within India, with fresh vegetables sourced exclusively from local farmers and Farmer Producer Organisations; for dairy, a just-in-time system keeps inventory lean. - **Sustainability built into the line** - 74% of energy comes from renewable sources (solar and biogas), all steam is generated from compacted agricultural waste, and the plant recycles roughly 92 million litres of water annually through a zero-liquid-discharge system. # Tasty Bite Research Centre: the innovation engine **The TBRC is an in-house R&D kitchen accredited by India’s Department of Scientific and Industrial Research, combining chefs and food technologists who have launched over 250 products in five years - Mars views it as a partner of choice for food innovation.** - **Culinary meets science** - the team includes three distinguished chefs, four food technologists, and a PhD holder, with a combined 140 years of experience, so product development spans from recipe creation to industrial-scale process design. - **Output that shows up on shelves** - over 100 new products were launched, including simmer sauces, organic grain bowls, and frozen street-food noodles for the European market. - **Hard to replicate** - the company’s moat is not a single patent but the combination of the TBRC, versatility across chill-frozen-shelf-stable formats, sourcing scale, and manufacturing know-how built over 35 years. # Group structure and partners **Tasty Bite is a 74.22%-held subsidiary of Mars, Incorporated, with no subsidiaries or joint ventures of its own - it manufactures in India and sells through Mars affiliates that handle every market outside the factory gate.** - **A clean holding structure** - the immediate parent is Preferred Brands Foods (India) Private Limited, a core investment company with no other business, while a tiny 0.01% stake sits with Effem Holdings Ltd., another Mars entity. - **Sales routed through sister companies** - Preferred Brands International Inc. markets and distributes products in North America; Mars Food US LLC and Mars Food UK handle their respective regions, so Tasty Bite’s revenue comes from selling finished goods to fellow Mars entities. - **A seven-member board with deep food-industry experience** - three independent directors, including a chairman with decades in the food sector, provide governance oversight alongside Mars-nominated non-executive directors.

Documents — Tasty Bite Eatables Ltd

  • Q3 FY2023 Earnings Call Transcript (Dec 2022, PDF): https://www.stockscans.in/document/nghuwsm0ln1fcp8srk3ihtou.pdf
  • Q1 FY2027 Quarterly Result (Jun 2026, PDF): https://www.stockscans.in/document/y5owrjafwue8ak7uqrm7v6iu.pdf
  • Q4 FY2026 Quarterly Result (Mar 2026, PDF): https://www.stockscans.in/document/8m6b9qbbgq63ir8kl2uzcsv4.pdf
  • Q2 FY2026 Quarterly Result (Sep 2025, PDF): https://www.stockscans.in/document/u521r0iv7kn9wi1f3ajjq13e.pdf
  • Q4 FY2025 Quarterly Result (Mar 2025, PDF): https://www.stockscans.in/document/ckm43nx13blk8v0j1kiql7vq.pdf
  • Q3 FY2025 Quarterly Result (Dec 2024, PDF): https://www.stockscans.in/document/odb1ff7nc6yze8bwnw8cus88.pdf
  • Q2 FY2025 Quarterly Result (Sep 2024, PDF): https://www.stockscans.in/document/546yv4y8cwnio2vl8k4h1fix.pdf
  • Q1 FY2025 Quarterly Result (Jun 2024, PDF): https://www.stockscans.in/document/7b0nxhdckn7jvc6miabxjm19.pdf
  • Q4 FY2024 Quarterly Result (Mar 2024, PDF): https://www.stockscans.in/document/crel4i88eg7w8wivt3pjgu4s.pdf
  • Q1 FY2027 Investor Presentation (Jun 2026, PDF): https://www.stockscans.in/document/n8i9bq7145qqy0huraa407ej.pdf
  • FY2026 Annual Report (PDF): https://www.stockscans.in/document/ogcf2174lhdwylp8yg3xtp4h.pdf
  • FY2025 Annual Report (PDF): https://www.stockscans.in/document/lxjshnibht0f1sc5oxlyk9v4.pdf
  • FY2024 Annual Report (PDF): https://www.stockscans.in/document/275esdgzugc20z7irfgxgwcp.pdf
  • FY2023 Annual Report (PDF): https://www.stockscans.in/document/c4kne9scu3fmojyulutgruth.pdf
  • FY2022 Annual Report (PDF): https://www.stockscans.in/document/hd759z3jfa4k1gbcoo29y15k.pdf
  • FY2021 Annual Report (PDF): https://www.stockscans.in/document/d926hhgfx1tiqjzu1n4wbhp1.pdf
  • FY2020 Annual Report (PDF): https://www.stockscans.in/document/89281efvsneuqzgur0312qs7.pdf

Concall Transcript Summaries — Tasty Bite Eatables Ltd

  • Q3 FY2023 Concall Transcript Summary (Dec 2022): https://www.stockscans.in/company/NSE%3ATASTYBITE/transcript-notes/202212/nghuwsm0ln1fcp8srk3ihtou.pdf