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Shellz India Ltd (544998)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544998 NSE: Consumer Food | Small Cap | Shellz India Share Price

₹174.80 5.25 (3.10%)

As on 30-Oct'26 16:59

Shellz India Ltd (544998)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544998 NSE: Consumer Food | Small Cap | Shellz India Share Price

₹174.80 5.25 (3.10%)

As on 30-Oct'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹211 Cr.
Current Price
₹174.8
52-Week Low / High
₹150 / 179
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
45.1
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
-
15.12%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
63.64%
Pledged shares (%) of Promoter's holding (%)
21.74%
Reserves
-
Equity
₹12.1 Cr.
Face Value
₹10
All Time Low / High
₹150.00 / 179.00

Shellz India stock performance

Key Ratios
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Valuation

NA

Price Trend

Weak
Q.1 Is Shellz India Ltd a good quality company?
Shellz India 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 Shellz India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Shellz India Ltd vs industry peers?
Shellz India Ltd revenue CAGR is 0.00%, compared to the industry median CAGR of %, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Shellz India Ltd?
Promoters hold 63.64% of the Shellz India Ltd, with 21.74% of their stake pledged, indicating high pledge risk.
Q.1 Stock return of Shellz India Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% 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.
Shellz India Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation ⓘ

Mar'23Mar'24Mar'25TTM
ROCE % ⓘ14.2%17.5%19.4%-

Growth Parameters ⓘ

Sales ⓘ159162187187
Sales YoY Gr.-2.5%15.1%-
Adj EPS ⓘ46.8106.9
YoY Gr.-70.4%46.5%-
BVPS (₹) ⓘ28.335.248.80
Adj Net
Profit ⓘ
3.15.28.38
Cash Flow from Ops. ⓘ1.98.925.8-
Debt/CF from Ops. ⓘ34.883.1-

CAGR ⓘ

9 Years 5 Years 3 Years 1 Years
Sales ⓘNANANA15.1%
Adj EPS ⓘNANANA46.5%
BVPSⓘNANANA38.9%
Share Price - - - -

Key Financial Parameters ⓘ

Mar'23Mar'24Mar'25TTM
Return on
Equity % ⓘ
14.121.424.528.2
Op. Profit
Mgn % ⓘ
10.512.413.1NAN
Net Profit
Mgn % ⓘ
1.93.24.44.4
Debt to
Equity ⓘ
3.12.72-
Working Cap
Days ⓘ
02632640
Cash Conv.
Cycle ⓘ
01391270

Valuation of Shellz India - Consolidated

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!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.0021.74
* Pledged shares as % of Promoter's holding (%)

Financials

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No data found!
data
No data found!
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No data found!
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No data found!

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Annual reports

No annual reports available.

Concalls

No concalls available.

Shellz India Ltd FAQs

The current trading price of Shellz India on 30-Oct-2026 16:59 is ₹174.8.

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 29-Oct-2026 the market cap of Shellz India stood at ₹210.9 Cr

The latest P/E ratio of Shellz India as of 29-Oct-2026 is 25.41.

The latest P/B ratio of Shellz India as of 29-Oct-2026 is 0.00.

The 52-week high of Shellz India is ₹179.0 and the 52-week low is ₹150.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Shellz India is ₹187 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Shellz India Ltd is a below average quality company.

No data found

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

About Shellz India Ltd

Shellz India was incorporated as a private limited company under the name ‘Tifosi Foods Private Limited’ on May 07, 2012. Further, the name of the company was changed from ‘Tifosi Foods Private Limited’ to ‘Shellz India Private Limited’ pursuant to a special resolution passed in the extraordinary general meeting of its shareholders held on August 04, 2020 with the fresh certificate of incorporation dated on September 21, 2020 issued by the Registrar of Companies, Delhi. Thereafter, the company was converted from a private limited company to a public limited company, pursuant to a special resolution passed in the extraordinary general meeting of its shareholders held on December 12, 2024 and the name of the company was changed to ‘Shellz India Limited’ on February 04, 2025.

The company is engaged in the manufacturing and marketing of confectionery products in India, with a diversified product portfolio comprising over hundreds of SKUs across multiple categories, including choco delights, jellies, baked treats and other confectionery formats. It also manufactures and supplies food and bakery ingredients. It focuses on developing confectionery products at accessible price points and distributing them across a wide geographic footprint, including urban and semi-urban markets, as well as smaller towns and rural areas. It markets its consumer products under two brands, ‘Hugs’ and ‘Tosca’. Under its flagship ‘Hugs’ brand, it offers products across four categories, including baked treats, choco delights, jellies, and panned and sugar confectionery. Its products are distributed through a network of over hundreds of super stockists and are available across kirana outlets in several states in India. Its distribution model is focused on driving volumes through repeat purchase-driven SKUs and wide retail penetration.

Under its ‘Tosca’ brand, it offers products with a relatively higher unit selling price, positioned towards mass-premium segments. The brand is currently being developed with a focus on e-commerce and quick commerce channels. The ‘Tosca’ portfolio comprises products with differentiated formats and packaging targeted at urban consumers. It is also expanding the ‘Tosca’ portfolio to include products incorporating cereal-based ingredients, aligned with evolving consumer preferences for differentiated snacking options. As part of this portfolio, it formulated ‘Tosca Oat Choco’, an oat and cereal-based bar positioned as an alternative to traditional confectionery formats, containing around 33% less sugar than certain leading chocolate bars, based on internal product comparisons.

In addition to marketing and sales of consumer products under its own brands, it also undertakes private label manufacturing for third-party customers. It also exports its products to international markets, including countries in the Middle East, South Asia and Europe. These channels complement its core consumer business and support diversification across customers, product formats and routes to market. All its consumer products are manufactured in-house, enabling it to maintain control over product quality, processes and timelines. Its operations are supported by machinery sourced from multiple countries, including Turkey, China and Indonesia, along with ancillary equipment from domestic suppliers, enabling it to support production across a wide range of SKUs. It follows defined processes across procurement, production and packaging, supported by quality assurance systems aimed at maintaining consistency in product quality.

Business area of the company 

The company is primarily engaged in the business of manufacturing food products and beverages, with focus on confectionery and beverages segments, including chocolates, jellies and other confectionery items, and carries on its operations in domestic as well as international markets in compliance with applicable statutes.

Awards and recognitions 

  • 2018: Awards Received ITQI-Superior Taste Award, Brussels for Hugs Gold twist Choco.
  • 2021: Received National Award for Excellence in Branding and Marketing - Hugs.
  • 2021: Received FSSAI License - under FSS Act, 2006 for its Delhi facility.
  • 2025: Received ISO 22000: 2018 Food Safety Management System Certificate.
  • 2026: Received Agriculture Innovation Award by Asia Retail Congress - Oat Choco.

History and milestones

  • 2012 - 2013: Incorporation as Private Limited Company and commenced operations at the Delhi facility for jelly and chocolate products under the brand ‘Hugs’.
  • 2012 - 2013: Introduced Rs 1 centre-filled chocolate.
  • 2013 - 2015: Expanded product categories into jellies and baked treats.
  • 2013 - 2015: Launched Dipsticks, a Rs 5 biscuit-with-chocolate-cream.
  • 2015 - 2019: Expanded team size and established a corporate office in Punjabi Bagh, New Delhi.
  • 2015 - 2019: Launched “Tosca” brand with a focus on alternate channels.
  • 2015 - 2019: Introduced breakage-free, moisture-resistant cones packed in polymer cups – ‘Push Up The Cone’.
  • 2020 - 2021: Set up Hyderabad depot to strengthen distribution across South India.
  • 2020 - 2021: Achieved the Rs 100 crore revenue milestone.
  • 2020 - 2021: Entered the compressed candies category.
  • 2022: Achieved the Rs 150 crore revenue milestone.
  • 2023: Launched the ‘Better-for-You’ range with Oats Choco, entering the snacking space.
  • 2025: Conversion from Private Limited to Public Limited Company.
  • 2025: Commencement of the Sonipat facility to support rising domestic and international demand and initiation of in-house packaging manufacturing operations.

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