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Flex Foods Ltd (523672)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523672 NSE: Consumer Food | Small Cap | Flex Foods Share Price

₹40.07 -0.75 (-1.84%)

As on 04-Jun'26 16:59

Flex Foods Ltd (523672)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 523672 NSE: Consumer Food | Small Cap | Flex Foods Share Price

₹40.07 -0.75 (-1.84%)

As on 04-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹50 Cr.
Current Price
₹40.1
52-Week Low / High
₹29 / 69
TTM EPS
₹-25.5
TTM Sales
₹190 Cr.
Book Value per Share
₹7.5
P/E Ratio
0.00
Industry PE
55.5
Price to Book (P/B)
5.31
Higher than its 5-year historical median
Price to Sales (P/S)
0.26
Lower than its 5-year historical median
EV/EBITDA
347.61
Higher than its 5-year historical median
Dividend Yield
1.19%
Profitability Efficiency
Return on Equity (ROE)
-55.52%
Underperforms industry median
Return on Capital Employed (ROCE)
-6.21%
Underperforms industry median
Return on Assets (ROA)
-8.60%
Operating Profit Margin
-1%
Net Profit Margin
-21.66%
Gross Profit Margin
-17.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
23.69%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
59.85%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-3 Cr.
Equity
₹12.5 Cr.
Face Value
₹10
All Time Low / High
₹1.00 / 169.15

Flex Foods stock performance

Key Ratios
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Check Before You Invest

M-Cap below 100cr DeciZen not available

Q.1 Is Flex Foods Ltd a good quality company?
Flex Foods Ltd is a quality company, based on a multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Flex Foods Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Flex Foods Ltd vs industry peers?
Flex Foods Ltd revenue CAGR is 13.23%, compared to the industry median CAGR of 7.03%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Flex Foods Ltd?
Promoters hold 59.85% of the Flex Foods Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Flex Foods Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -3.3% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Flex Foods Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 16.4%14.3%12.9%12.6%7.2%15%7.7%0.7%-5.4%-6.2%-
Value Creation
Index
0.20.0-0.1-0.1-0.50.1-0.5-1.0-1.4-1.4-

Growth Parameters

Sales 82.785.290.784.680.6102111117121150190
Sales YoY Gr.-3%6.6%-6.8%-4.8%26.9%8.8%5.4%3.4%23.7%-
Adj EPS 5.95.74.38.14.697.3-8.5-20.4-24.6-25.5
YoY Gr.--2.7%-26%90.1%-42.8%93.7%-18.2%-216.4%NANA-
BVPS (₹) 5861.163.4727685.191.581.960.433.67.5
Adj Net
Profit
7.37.25.310.15.811.19.1-10.6-25.5-30.7-32
Cash Flow from Ops. 26.19.917.516.716.612.82.36.9-13.3-2.3-
Debt/CF from Ops. 1.53.71.81.61.11.264.833.7-19.6-120-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 6.8%13.2%10.5%23.7%
Adj EPS -217.2%-239.8%-249.9%NA
BVPS-5.9%-15.1%-28.4%-44.4%
Share Price -4.6% -15% -22.3% -22%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
10.79.66.811.96.211.18.3-9.8-28.7-52.4-124.2
Op. Profit
Mgn %
22.322.418.621.214.519.917.79.5-1.3-10
Net Profit
Mgn %
8.98.45.811.97.110.98.2-9-21-20.4-16.7
Debt to
Equity
0.60.50.40.30.20.21.32.33.56.723.2
Working Cap
Days
217225222229234197231274311271105
Cash Conv.
Cycle
96108109124122102114129167137-33

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales82.6985.1590.7484.6080.58102.28111.30117.33121.28150.01
Operating Expenses + 64.2466.1373.8966.7268.8882.0291.64106.23123.49154.16
Manufacturing Costs21.3923.0725.3424.7425.2125.8030.7542.5751.4756.17
Material Costs14.4712.5116.9911.0613.0126.3027.4821.9926.4148.70
Employee Cost 14.1815.4317.2317.7018.6317.5716.9820.6525.9627.23
Other Costs 14.2015.1214.3313.2112.0312.3516.4421.0119.6522.06
Operating Profit 18.4519.0216.8617.8911.7020.2519.6611.09-2.21-4.15
Operating Profit Margin (%) 22.3%22.3%18.6%21.1%14.5%19.8%17.7%9.5%-1.8%-2.8%
Other Income + 2.421.902.471.661.912.470.350.610.430.40
Exceptional Items 0000000000
Interest 3.664.833.633.312.492.102.4316.0617.2322.80
Depreciation 4.314.8655.255.425.225.189.6416.2316.66
Profit Before Tax 12.9111.2210.6910.995.7015.4112.40-14-35.24-43.20
Tax 4.743.383.88-0.04-1.093.423.28-3.40-9.31-10.70
Profit After Tax 8.177.856.8111.036.79129.12-10.60-25.93-32.50
PAT Margin (%) 9.9%9.2%7.5%13.0%8.4%11.7%8.2%-9.0%-21.4%-21.7%
Adjusted EPS (₹)6.66.35.58.95.59.67.3-8.5-20.8-26.1
Dividend Payout Ratio (%)38.10%39.70%0%11.30%13.80%10.40%13.70%-5.90%-2.40%-1.90%

Valuation of Flex Foods - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 72.1576.1178.9589.6694.67105.93113.87102.0275.2541.80
Share Capital 12.4512.4512.4512.4512.4512.4512.4512.4512.4512.45
Reserves 59.7063.6666.5077.2182.2293.48101.4289.5762.8029.35
Debt +33.5631.3427.3323.5615.0214.16140.74218.23244.27256.55
Long Term Debt15.5910.3114.118.313.160106.07182.80196.62203.23
Short Term Debt17.9721.0313.2215.2511.8614.1634.6735.4347.6553.31
Minority Interest0000000000
Trade Payables10.389.878.286.358.737.2410.5018.9826.2030.41
Others Liabilities 22.5823.4224.4621.2320.4421.4135.0239.7039.6141.86
Total Liabilities 138.67140.74139.02140.80138.87148.74300.12378.93385.34370.62

Fixed Assets

Net Fixed Assets +75.5174.7981.1682.8980.1476.3977.93234.06268.15259.36
Gross Block127.41131.37142.47149.27151.75153.13159.72325.55375.96383.72
Accumulated Depreciation51.9056.5961.3166.3871.6176.7481.7991.49107.82124.36
CWIP 0.170.840.200.760.640.67123.6448.732.220.51
Investments 0000000000
Inventories18.3720.2318.1020.6423.9220.0419.3736.2446.4345.67
Trade Receivables18.6620.2320.4816.7910.5625.6527.2129.9237.8839.24
Cash Equivalents 14.538.443.134.696.1312.7015.642.981.581.69
Others Assets 11.4216.2215.9515.0317.4913.3036.3326.9829.0924.15
Total Assets 138.67140.74139.02140.80138.87148.74300.12378.93385.34370.62

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 26.099.9317.5416.7416.6412.792.296.94-13.29-2.33
PBT 12.9111.2210.6910.995.7015.4112.40-14-35.24-43.20
Adjustment 5.898.386.697.146.085.815.8823.0133.2438.94
Changes in Working Capital 8.45-8.131.47-1.563.13-6.23-13.94-3.91-11.291.93
Tax Paid -2.33-2.61-3.48-1.270.25-3.56-3.51-0.6700
Cash Flow From Investing Activity + -21.05-3.88-10.51-7.41-2.23-1.10-129.45-87.94-3.42-5.71
Capex -22.63-4.88-10.74-7.58-2.53-1.51-129.71-88.86-3.65-6.02
Net Investments 0000000000
Others 1.5810.230.170.300.400.260.930.230.32
Cash Flow From Financing Activity + 4.10-12.14-12.33-7.77-12.97-5.13130.1068.3415.318.14
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 8.61-5.283.80-5.80-5.15-3.16106.0776.7313.826.62
Interest Paid -3.66-4.83-3.52-3.25-2.10-2.08-1.97-15.02-10.80-8.85
Dividend Paid -3.37-3.75-3.750-1.50-0.93-1.25-1.25-0.62-0.62
Others 2.521.71-8.861.28-4.221.0527.257.8812.9211
Net Cash Flow 9.14-6.09-5.301.561.446.562.95-12.66-1.400.11

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)11.8410.588.7813.097.3711.968.3-9.82-29.26-55.52
ROCE (%)16.3514.2912.8512.617.16157.730.69-5.36-6.21
Asset Turnover Ratio0.660.610.650.610.580.720.50.350.320.4
PAT to CFO Conversion(x)3.191.262.581.522.451.070.25N/AN/AN/A
Working Capital Days
Receivable Days68.3083.4081.5079.7061.2064.2086.2088.9010293.80
Inventory Days76.4082.7076.7082.8099.8077.9064.3086.50124.40112
Payable Days207.40295.40195241.30211.60110.80117.90244.70312.20212.10

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Flex Foods Ltd FAQs

The current trading price of Flex Foods on 04-Jun-2026 16:59 is ₹40.07.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 03-Jun-2026 the market cap of Flex Foods stood at ₹49.89 Cr

The latest P/E ratio of Flex Foods as of 03-Jun-2026 is 0.00.

The latest P/B ratio of Flex Foods as of 03-Jun-2026 is 5.31.

The 52-week high of Flex Foods is ₹68.90 and the 52-week low is ₹29.36.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Flex Foods is ₹190 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Flex Foods Ltd is a average quality company.

The key valuation ratios of Flex Foods Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Flex Foods Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Flex Foods Ltd

Flex Foods Ltd is a part of Flex Group of Companies including Flex Industries Ltd., Flex Engineering Ltd. and other companies involved in packaging and information technology business with a total turnover of Rs 1.4 Billions( Dollar 300 Millions).

The company is engaged in the business of agro based value added food products catering to the international markets mainly in Europe, USA, Canada & Middle East countries. The company started its commercial operations in 1992 by establishing a 100% EOU for vacuum freeze dried vegetables mainly mushroom and culinary herbs with a total processing capacity of 2000 MTs per annum.

As a backward integration, the company simultaneously established an 'state-of-the-art' mushroom growing unit with a capacity of 2000 MTs per annum and successfully achieved the 100% capacity utilization by producing high quality white button mushroom through in-house technology development & process optimization along with the technical support from M/s Agrisystems, Holland.

The company also deals in canned mushroom with the brand 'Chef's Choice'. Recently FFL has embarked on a major expansion programme by installing the world class manufacturing facilities for IQF and Air- Dried Mushrooms, Culinary Herbs & Fruits/ Vegetables.

The company has been a major success story in the food processing sector in India with a very high degree of value addition through annual export turnover of approximate Rs.300 Millions. Flex Foods has over 500 employees in its operations and creates employment for over 1000 families through outsourced farming & allied activities. 'Good Manufacturing Practices', 'Quality Management System', and Envt-Health & Safety Management Practices are ensured through regular training & awareness programmes.

The processing infrastructure of the company includes the most modern plant equipments from leading technology providers i.e. NIROA/s , Denmark ; NON, Holland; BINDER, Germany & Eurotek, UK along with those from the leading Indian companies. The plant can process upto 20000 MTs of fruits & vegetables per annum in the form of freeze-dried, frozen, IQF, air-dried and canned products. All the process steps starting from the reciept of raw materials till final packaging of the product, are under strict quality environment & hygienic conditions to achieve the highest level of microbiological & phytosanitary standards.

The technical human resource comprises of highly skilled professional experts in the field of Food Technology, Total Quality Management, Engineering & Agro- Sciences from leading institutes supported by a highly skilled & trained staff and allied manpower.Flex Foods lays top priority on sourcing & quality control of input materials to ensure the highest standards of quality, hygiene & product safety. In order to achieve the right quality of finished products, most of the input materials including mushroom, herbs & other fruits & vegetables are grown under the supervision of in-house experts to ensure that optimum farm conditions and agri-practices are followed throughout the growing & harvesting cycles .

Captive mushroom cultivation unit with a total annual capacity of 2000 MTs is fully equipped with international quality monitoring techniques & best storage facilities to ensure that the fresh & hygienic inputs are always available to the processing units to meet the strict international requirements.

Captive farming of culinary herbs & beans / vegetables has been a remarkable success in terms of the wide range varieties grown under local agro climatic conditions with pesticide free cultivation practices.

The company employs a team of over 15 agri-scientists & experts in food technology, cultivation, agronomy and horticulture sciences. Good Agricultural Practices (GAPs) are ensured through regular interaction & awareness programme for farmers & growers.

Product range of the company includes:

Flex Foods offers a wide range of  Vacuum Freeze Dried, Air-Dried, Frozen and IQF (Individually Quick Frozen) product range of mushrooms, herbs, spices and fruits / vegetables, meeting strict quality & hygiene standards.

Frozen/IQF & Freeze Dried /Air Dried Products - Canned Mushroom

  • Mushroom Buttons
  • Mushroom Slices
  • Mushroom Dices
  • Mushroom Blanched
  • Mushroom Unblanched

Herbs & Spices

  • Parsley
  • Dill
  • Basil
  • Thyme
  • Oregano
  • Marjoram
  • Chervil
  • Sage
  • Mint
  • Savory
  • Rosemary
  • Tarragon
  • Green Pepper
  • Coriander
  • Lemon Grass

Fruits & Vegetables

  • Onion - Red / White
  • Garlic
  • Tamarind Powder
  • Cauliflower / Cabbage
  • French Beans
  • Bell Pepper
  • Jalapeno / Tabasco
  • Broccoli
  • Peas
  • Okra
  • Litchi
  • Pineapple
  • Banana 
  • Mango

Achievements/ recognition:

  • The facilities of the company have been certified for KOSHER and HACCP standards as per the customers’ requirements.
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