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Revenue
₹353 Cr
verification pending
Revenue YoY
—
reported change
EBITDA
₹61 Cr
latest reported figure
Source
bse pending
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Freshara Agro Exports reported FY26 consolidated total income of ₹353 crore, EBITDA of ₹61 crore, and PAT of ₹37.51 crore. H2 revenue was ₹212 crore with EBITDA of ₹36.7 crore and PAT of ₹22.6 crore. The flagship gherkin business contributed ₹268 crore on exports of 43,600 MT. The transformational acquisition of Spanish olive brand Sarasa (₹28.75 crore revenue in two months) provides entry into the ₹67,000 crore global olive market, with plans to achieve ₹200 crore revenue from Sarasa in FY27 by shifting 30% of production to India to improve margins from 4-5% to 8-10% PAT. Management targets 25% growth in the Indian entity and a consolidated revenue of ₹575 crore for FY27. Risks include integration challenges in Spain and potential impact of geopolitical disruptions on trade routes.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects 25% growth in the Indian entity to ~₹400 crore and Sarasa to contribute at least ₹200 crore, totaling ₹575 crore.
- By shifting 30% of production to India, Sarasa's PAT margin is expected to rise from 4-5% to 8-10% in FY27.
- Sarasa's current capacity utilization is below 50%; management expects to reach 50-60% in FY27, enabling ₹200 crore revenue.
- Management aspires to reach ₹1,000 crore consolidated revenue by FY30, driven by scaling Sarasa to full capacity and Indian growth.
Risks flagged
- Sarasa was acquired out of a family dispute and bankruptcy; management has slimmed the workforce and removed unprofitable SKUs, but scaling to ₹200 crore and improving margins may face operational hurdles.
- Conflicts affecting the Strait of Hormuz and Red Sea have impacted shipping; management noted alternative routes but Middle East exposure is limited.
- Inventory and receivables have risen significantly due to seasonal crop arrivals and strategic stockpiling; cash conversion cycle has increased, which could pressure liquidity if growth accelerates.
- Management expects the EU-India free trade agreement (expected early 2027) to reduce duties by 7-14%, boosting margins. Delay or failure would limit cost advantages.
Key quotes
- We are not building a single product company anymore. We are building a diversified global specialty foods platform that combines contract farming capabilities in India, cost efficient manufacturing, international brands, global distribution, deep customer relationship, strong governance and public market discipline.
- The combination of Freshara and Sarasa creates a business that is stronger than the sum of its individual parts.
- We look forward to achieving about 12 to 14% of EBITDA from the operations of Spain and a PAT margin of about 8 to 10%. At the moment they're at around 4-5%.
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