Vidhi Specialty Food Ingredients Limited has informed the Exchange about Investor Presentation
11 11, 2025
To, The Manager Department of Corporate Services (DCS- Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai- 400001 Script Code: 531717
To, The Manger Listing Compliance National Stock Exchange India Limited, Exchange Plaza, Plot No. C/1, G-Block, Bandra-Kurla Complex, Bandra (East) Mumbai- 400051 Trading Symbol: VIDHIING
Dear Sir/Madam,
Ref.: Company Code: BSE – 531717, NSE Symbol: VIDHIING Sub: Investor Presentation on the Unedited Financial Results for the quarter ended September 30, 2025
In terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended from time to time, our Company has announced its Unaudited Financial Results (Standalone and Consolidated) for the quarter and half year ended September 30, 2025, on November 10, 2025. Enclosed herewith is the Investor Presentation on the Unaudited Financial Results for the quarter ended September 30, 2025.
Kindly take the above information on record.
intimation
This www.vidhifoodcolors.com
is also being made available on
the website of
the Company at
Thanking you, Yours faithfully, For Vidhi Specialty Food Ingredients Limited
Anupam J Vyas Company Secretary and Compliance Officer A60464 Encl: As above
Vidhi Specialty Food Ingredients Limited
Investor Presentation
November 2025
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Vidhi Specialty Food Ingredients Limited [Formerly known as 'Vidhi Dyestuffs Manufacturing Limited] (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.
All Maps used in the presentation are not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
2
Q2 & H1FY26 Financial Performance (Consolidated)
Q2 FY26 Performance Highlights
Q2 FY26 (Y-o-Y)
Rs. 75.0 Crs Revenue
Rs. 17.7 Crs EBITDA
Rs. 10.6 Crs PAT
-17.8% Y-o-Y
16.3% Y-o-Y
2.3% Y-o-Y
Update on Capacity Expansion
Phase I Dahej SEZ (350 MT)
Company has successfully commenced production in the Dahej plant on December 12, 2023 post successfully commencement of trial production on August 27, 2023
Phase II Roha MIDC (Arjun Foods*) (350 MT)
Applied for MPCB Consent For Introduction Of Value Added Products
*Arjun Foods, a wholly owned subsidiary of Vidhi Specialty Food Ingredients Ltd.
4
Q2 & H1FY26 Consolidated Key Highlights
Revenue from Operations (Rs. in Crs)
EBIDTA (Rs. in Crs)
Profit after Tax (Rs. in Crs)
174.3
162.9
38.2
23.3
29.3
18.8
91.3
75.0
17.7
15.2
10.3
10.6
Q2FY25
Q2FY26
H1FY25
H1FY26
Q2FY25
Q2FY26
H1FY25
H1FY26
Q2FY25
Q2FY26
H1FY25
H1FY26
Despite reduction in Revenue which is contributed to reduction in trading revenue the company has improved its portfolio mix which has improved EBIDTA & Profit after tax of the company. Declared Second interim dividend of Re. 1.50/- (Rupees One and fifty paise only) per share i.e. @ 150% per equity share having face value of Rs. 1/- each for the Financial Year 2025-26
5
Q2 & H1FY26 Consolidated Profit & Loss Statement
Particulars (Rs in Crs)
Q2 FY26
Q2 FY25
Revenue from Operations
Total Expenses
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation & Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
75.0
36.9
38.1
91.3
57.6
33.7
50.8%
36.9%
3.6
16.8
17.7
2.9
15.6
15.2
23.6%
16.6%
0.7
2.4
15.9
1.1
14.9
4.3
10.6
14.1%
2.11
0.8
2.0
14.0
0.4
13.6
3.2
10.3
11.3%
1.81
Y-o-Y
-17.8%
13.1%
16.3%
14.1%
9.7%
2.3%
Q1 FY26
87.9
49.9
38.0
43.3%
3.3
14.2
20.5
23.4%
0.5
2.4
18.7
1.5
17.2
4.5
12.7
14.5%
2.54
Q-o-Q
-14.7%
0.1%
-13.9%
-14.5%
-13.3%
-16.8%
H1 FY26
H1 FY25
162.9
86.8
76.1
46.7%
7.0
30.9
38.2
174.3
112.8
61.5
35.3%
5.4
26.7
29.3
23.5%
16.8%
1.2
4.8
34.6
2.6
32.1
8.8
23.3
14.3%
4.65
0.9
4.0
26.3
0.9
25.4
6.6
18.8
10.8%
3.76
Y-o-Y
-6.5%
23.9%
30.4%
31.8%
26.2%
24.1%
Drop in sales as compared to #30th Sep’ 24 quarter is due to reduction of inter company transfer sales from Vidhi - Roha to Vidhi - Dahej and vice versa.
6
Consolidated Balance Sheet
Particulars (Rs in Crs)
Equity Share Capital
Other Equity
Total Equity
Financial Liabilities
(i) Borrowings
(ii) Lease liabilities
Provisions
Deferred Tax Liabilities (Net)
Total Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease liabilities
(ii) Trade payables
(iii) Other Financial Liabilities
Other Current Liabilities
Current Tax Liabilities (Net)
Total Current Liabilities
Total Equities & Liabilities
Sep-25
Mar-25
Particulars (Rs in Crs)
5.0
304.3
309.3
0.0
1.0
0.9
6.9
8.7
59.0
0.4
22.0
9.5
2.9
1.2
94.9
413.0
5.0
296.1
301.1
0.0
1.1
0.8
6.5
8.5
64.1
0.3
19.0
1.7
0.9
0.5
86.5
396.1
Property, Plant and Equipment
Capital Work-in-progress
Right to Use
Goodwill
Other Financial Assets
Other Non-Current Assets
Total Non-Current Assets
Inventories
Financial Assets
(i) Trade Receivable
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances
(iv) Loans
(v) Other Current Financial Assets
Current Tax assets (Net)
Other Current Assets
Total Current Assets
Total Assets
Sep-25
Mar-25
135.0
125.7
4.0
1.2
7.1
2.0
4.2
153.4
98.0
104.8
9.0
27.5
1.4
1.9 0.0
17.1
259.6
413.0
4.0
1.4
7.3
2.0
3.5
143.7
74.9
128.6
19.8
7.6
1.3
1.7
0.0
18.4
252.3
396.1
7
Consolidated Cash Flow Statement
Cash Flow Statement
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash & Cash Equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
Sep-25
Sep-24
32.0
6.6
38.6
13.8
52.4
-7.6
44.8
-25.4
-30.3
-10.9
19.8
9.0
25.4
5.0
30.4
-20.3
10.1
-5.0
5.1
-3.2
-6.2
-4.3
11.5
7.2
8
Transformation Growth & Path Ahead: 2.0
Dahej SEZ Plant (Phase-I)- Commercial Production Commenced
Moved one step closer to our goal of achieving total capacity of 1000 TPM from existing 325 TPM
NEW CAPACITY ADDITION
Added installed capacity of 350 TPM Taking total to 675 TPM
Investment of INR 70 Crs – Funded through Internal accruals
Company has successfully commenced production in the Dahej plant on December 12, 2023 post successfully commencement of trial production on August 27, 2023
Debt to Equity remains healthy at 0.20
Improved realizations due to improvement in product mix
Foray into new high margin products with usage across varied industries
GROWTH LEVERS
Revenue to remain consistent on an absolute basis with increase in contribution from manufacturing activity
Margin profile to improve as low margin trading revenue will be substituted with high margin manufactured products
Improving wallet share from existing customers
Penetration into newer geographies
Addition of new customers
Enhancement of product portfolio
Operational efficiencies & operating leverage
10
Next Leg Of Growth – Capacity Addition at Roha (Phase-II)
To address the Demand Supply Gap through capacity expansion
Metric Tons per Month
~675
2x Capacity Expanded by 2024-25
NEW CAPACITY ADDITION
o Arjun Foods, a wholly-owned subsidiary of Vidhi
in Roha MIDC, 200 meters away from the current manufacturing site bring operational synergies and add value added forward integrated products.
325
o Consent to Establish applied for from MPCB
o Expected timeline: 2026-27
250
150
90
55
1995
2000
2005
2011
2015
2019
2023
11
Company Overview
All About Food Colours
Why Food Colours???
Food colours are ingredients that are added to food or beverage to enhance its appearance
Colours when added to food products imparts very bright and tempting effect
This influences consumers decisions to purchase that product
Research shows that 90% of buyers make a decision to purchase a product after seeing its colour and making a perception about its taste based on the colour
Appearance
Consistency
Long Lasting
Influences Flavour
Improves the appearance of the product for consumption & enhances the visual appeal of a dish
Consistency in the product appearance to influence the consumer to buy a product through visual perception
Enhance the visual appeal of a dish and introduce decorative colours to other foods
Colour of the food can influence the perceived flavor
13
Food Colour Industry
4.7%
Global Food Colour Market (2021-2026) is expected to grow at a CAGR of
2023
2024
₹ 1500-1700Crs
Incremental demand to be expected Y-o-Y basis in global food colour industry
Broadly divided into Natural Colour Artificial Colour
5%
Export
Domestic
95%
Market with Limited Competition due to High entry barriers
Huge Opportunity in the export as well as domestic market
India accounting for approximately 16% of the world production of dyestuff and dye intermediates
Source: Industry Reports
14
Huge Industry Potential with Limited Players
Industry Potential
USD Bn
Food Colour Industry Growth
+6% CAGR
5.1
3.7
FY17
FY23
Huge Growth Opportunities Every year incremental demand of ~Rs. 1,500 to Rs, 1,700 crores is expected to generate globally for Food colours
Source: Industry Reports
o Upsurge in demand for food colors from various end-use industries, including food & beverages, bakery & confectionery, dairy products, meat & poultry, and seafood
o Colour is a key component to enhance the ultimate appetizing value and
consumer acceptance towards foods and beverages.
o Technological advancements and growing R&D activities for improved
characteristics
o Synthetic food colours have been increasingly used than natural food colours by food manufacturers to attain certain properties such as low cost, improved appearance, high colour intensity, more colour stability, and uniformity.
o Food colour market across the globe has been on a rise with more demand upsurge from the emerging markets and is expected to be higher than projected 6% CAGR due to higher disposable income
15
About Vidhi Specialty Food Ingredients
An Institution in Edible Colour Technology
Diversified End User Industry
2nd Largest food colour manufacturer in Asia
Accreditation US FDA BIS
Capabilities Existing Capacity of over ~7,500 MT p.a. + ~4,200 MT p.a. under expansion
Presence Over 80 Countries and 6 continents
Food & Beverages
Cosmetics
Confectionaries & Bakery
Personal Care Products
Pet Foods
Pharmaceuticals
Home Care Products
16
Synthetic Food Colours
Primary Water Soluble Colours
Blends of Water Soluble Food Colours
Lake Food Colours
Primary Food Water Soluble Colours are water soluble, and impart coloring to any product when dissolved
Are in accordance with the E.C. & JECFA Regulations & Approved for human consumption by WHO
Obtained from mixing different primary colors with one another
Resultant colors are unique in color property and provide a different feel to products
Used where colouring is to be imparted by coating, these are basically Food Grade Pigments
Lake Colours are bright, consistent, and useful in industries like snack food, confectioneries, pharma, cosmetics, inks, plastic, food containers
Synthetic Water Soluble Colours Full range of 14 water soluble colours available in Microfine Powder, Fine Plating Grade Powder & Granular Forms
D&C Colours Range of Certified D&C Dyes & Lakes For Drug & Cosmetic Applications
FD&C Certified Water Soluble & Lakes Full range of U.S. FDA Certified Colours in Microfine Powder, Fine Plating Grade Powder & Granular Forms & Lakes
Blends We can develop and match any shade as per the customers specifications
Aluminum Lakes Full range Of Aluminum Lakes used in Surface Coatings, Capsules, Dry Snacks Food Packaging Material etc.,
Others Co-blended Lakes & Granules
17
Our Journey
1994
2000
2005
2011
2015
2019
2022-23
Vidhi Dyestuffs Mfg. Ltd. incorporated with production capacity of 30 MT / Month
Increased Production Capacities to 90 MT / Month
Brownfield expansion with capacities increased to 250 MT / Month
Capacity expansion plans up to ~900 MT / Month with 2 Greenfield Expansions
On 27th Aug’23 commenced trial production at Dahej was opened for production in Dec’23
Increased Production Capacities to 55 MT / Month
New Factory Commissioned enhancing total production capacity to 150 MT / Month
Enhanced capacities to 325 MT / Month & Completed product development of D&C Dyes, Lakes & solvent dyes
18
Wide Product Range
Water Soluble Colours
Tartrazine
Quinoline Yellow
Sunset Yellow
Carmoisine
Amaranth
Ponceau 4R
Erythrosine
Allura Red
Patent Blue V
Indigo Carmine
Brilliant Blue
Chocolate Brown HT
Green S
Black PN
Lakes
Lake Tartrazine
Lake Allura Red
Lake Quinoline Yellow
Lake Indigo Carmine
Lake Sunset Yellow
Lake Carmoisine
Lake Amaranth
Lake Ponceau 4R
Lake Erythrosine
Lake Brilliant Blue
Lake Chocolate Brown HT
Lake Green S
Lake Black PN
FD&C Certified Water Soluble Colours
FD&C Certified Lakes
FD&C Yellow 5
FD&C Red 3
FD&C Yellow 6
FD&C Red 40
FD&C Blue 2
FD&C Blue 1
Lake FD&C Yellow 5
Lake FD&C Yellow 6
Lake FD&C Red 40
Lake FD&C Blue 2
Lake FD&C Blue 1
19
Existing Manufacturing Facility
Manufacturing plant
• Our Manufacturing facilities have been audited and found satisfactory by the U.S. FDA
• Our present and operational manufacturing facilities are spread over an area of 1,76,000 square
feet, located in Dhatav Village of Raigad District in the state of Maharashtra
•
Plot No 59/B :
o 3 Dedicated Sections To Manufacture Azo Colours & Lakes : (AZO I, AZO II & AZO III) o Dedicated Erythrosine Manufacturing Plant o Dedicated Brilliant Blue Manufacturing
• Plant Plot No 68 :
o 2 Dedicated Sections To Manufacture Azo Colours & Lakes : (AZO IV, AZO V)
R&D Facility
The company has set up a research and development (R&D) unit near its manufacturing facility in Roha, which enables the company to test food colours and meet the quality specification set by the US Food and Drug Administration (FDA) and other regulatory bodies around the world.
20
Diversified End User Industry
Food
Confectionaries & Bakery
Pet Foods
Pharmaceuticals
Beverages
Cosmetics
Home Care Products
Personal Care Products
21
Marquee Customers across Industries
Pet food, Cattle & Poultry feed
Confectionaries & Bakery
Personal / Home Care
Food & Beverage
Pharmaceuticals
Pet food, Cattle & Poultry feed
Britannia
Nestle
Kraft
Coca-Cola
Cipla
Parle G
Customer & Industry Diversity
Unilever
Mars
Pfizer
Sanofi
Cadila
Rasna
Procter & Gamble
Pepsi
Kerry
ITC
Mondelez
Mala’s
and many more MNC’s across the globe
22
Global Footprint
Continent Wise Sales
Country Wise Sales
6%
2%
21%
3%
8%
21%
Q2FY26
32%
39%
H1FY26
38%
30%
33%
3%
5%
13%
6%
2%
4% 2% 1% 5%
3%
9%
0%
13%
2%
AFRICA
AMERICAS
AUSTRALASIA
EUROPE
MIDDLE EAST
USA
MALTA
INDONESIA
PHILIPPINES
MEXICO
VIETNAM
SPAIN
EGYPT
UAE
ITALY
TURKEY
BRAZIL
CANADA
CHINA
Rest of the World
Diversified Geographical Presence
Exporting to more than 80 countries across 5 continents meeting all the specific regulatory requirements for each country and continent
Continuous addition of new customers and increasing wallet share in existing customers enhancing the growth for the years to come
Top 10 countries contribute to ~72.69% and ~ 74.24% of the revenues in Q2 & H1FY26 respectively
Top 10 customers contribute ~56.98% and 56.92% of the revenues in Q2 & H1FY26 respectively
23
Stringent Regulatory Approvals
01
07
02
06
03
05
04
Synthetic Water Soluble Colours European Commission & JECFA Approved
Aluminum Lakes European Commission & JECFA Approved
FD&C Colours U. S. FDA Approved
FD&C Lakes U. S. FDA Approved
D&C Colours U. S. FDA Approved
Blends European Commission, JECFA & U. S. FDA Approved
Co-Blended Lakes &Co-Blended Granules European Commission, JECFA & U. S. FDA Approved
24
Certifications & Regulatory Approvals
1st Company in the field of manufacturing synthetic food colours in India to be awarded with ISO 9002 in the year of 2000
ISO 9001:2015, ISO 22000:2005 certified company
Company’s all products are Kosher & Halal approved
The Management Of Food Hazard Analysis (HACCP) system for the manufacture of synthetic food colours & lakes
Vidhi is a FSSC 22000 accredited company and hence GFSI compliant and also have GMP
25
Technology and R&D strength
Fully equipped & functional laboratory accredited by The Bureau of Indian Standards forms the core of Quality Control Department
Dedicated R & D facility with a team of PHD’s & qualified chemists, constantly working on process engineering of existing products and on development of new products to enhance the product portfolio and offerings
Stringent checks and processes established at each stage from Raw Material testing to In- Process to Manufacturing processes to delivery of Finished Goods to ensure desired products
Qualified Technical Team
End User Approach
Stringent Testing
Transcendental combination of highly experienced and dynamic force of qualified chemists dedicated towards partnering the efforts of our discerning customers in developing superior colour solutions for their products
Technical team works closely with the end user, right from the stage of envisioning the product to commercial production and after sales support.
Stringent procedures and fail- safe methods of testing are adopted, right from the stage of sampling of all raw materials, in process checks at various stages of the reactions and thorough testing of all finished products
Collaborative working with regulatory bodies
Sharing of information & working hand in hand with the regulatory bodies like US FDA & EC for new product developments & standards to be implemented across the globe for food colour industry
26
Growth Drivers of the Company
Superior quality and global outreach
Access to international selling and sourcing markets
Large domestic market with increased income and expenditure on consumer products
Management experience and expertise in food colour business.
Established production facilities.
Pro industry initiative taken by the Government and the Reserve Bank of India.
27
High Entry Barriers
Technical Know-how
Quality Control Process
• Technical know-how with
years of experience for
continuous development of new products & colours
• Follow stringent quality control norms on batch wise
before delivery to the customer
• With strong controls and processes in place, able to deliver
quality products to customers
• High cost of change in vendor due to stringent norms &
approval cycle enhances customer stickiness
Highly Regulated Markets
Long Customer Approval
• Operate in a highly regulated markets with multiple
regulatory approvals required
• Undertaken various approvals backed by an appropriate lab testing facility and among the very few USFDA approved manufacturers of food grade colours in India
• Customer approval takes as long as ~10 years. Average single product approval cycle for customers is between 4-5 years for the first set of orders
• End users have internal specifications which are often more stringent than the regulations to which they adhere to
28
Key Differentiators
Product
Large Product Variants
Diversified Usages
Diversified customers
Long standing relationships with Large MNC as a customers
Customer & Geography Expansion
Renowned name in Food Colour Industry
Regulatory
Highly Regulated Market
Consistency is a Key
Long Customer Approval Cycle
R&D & Product Development
Financial Strength
Un-leveraged Balance sheet
Revenue Visibility
Better Profitability
29
Our Strength
TECHNOLOGY
R & D
QUALITY
Fully equipped & functional laboratory accredited by The Bureau of Indian Standards forms the core of Quality Control Department
Dedicated R & D facility with a team of PHD’s & qualified chemists, constantly working on process engineering of existing products and on development of new products to enhance the product portfolio and offerings
Stringent checks and processes established at each stage from Raw Material testing to In-Process to Manufacturing processes to delivery of Finished Goods to ensure desired products
30
Experienced Board of Directors
Mr. Bipin M. Manek Chairman & Managing Director
Mr. Mihir B. Manek Joint Managing Director
Mrs. Pravina B. Manek Non-Executive Director
Mrs. Vidhi H. Parekh Wholetime Director
Mr. Anil P. Udeshi Independent Director
Mrs. Pranali P. Govekar Independent Director
Mr. Ashit K. Doshi Independent Director
Mrs. Jyoti S. Modi Independent Director
31
Strong Management Team
Mr. Bipin M. Manek
Chairman & Managing Director
Mr. Mihir B. Manek
Joint Managing Director
Mr. Mitesh Manek
Chief Financial Officer
Rich & Diversified experience of over 35 years in the field food colour manufacturing. Acknowledged as a thought leader in transforming the Company from a small food color manufacturing company to the Asia’s 2nd largest food color manufacturing Company
Associated with the company for more than 15 years with expertise in procurement of imported raw materials and distribution. Played a significant role in leading multiple initiatives to accelerate production and sales
Postgraduate with 17 years of experience in finance & administration. Also, looks after the sales & distribution to various geographies
32
Historical Financials Performance
Consolidated Operating Performance
Revenue from Operations (Rs. in Crs)
EBIDTA (Rs. in Crs)
Profit before Tax (Rs. in Crs)
Profit after Tax (Rs. in Crs)
537.1
84.6
79.0
58.6
404.0
+28%
382.3
298.0
+20%
68.5
55.8
57.2
+23%
60.0
+19%
43.4
49.8
48.8
37.7
36.5
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
FY22
FY23
FY24
FY25
34
Consolidated Historical Profit & Loss Statement
Particulars (Rs in Crs)
Revenue from Operations
Total Expenses
Gross Profit
GP %
Employee Benefits Expense
Other Expenses
EBITDA
EBITDA %
Other Income
Depreciation and Amortisation Expense
EBIT
Finance Costs
PBT
Total Tax Expense
Profit for the year
PAT %
EPS
Mar-25
Mar-24
Mar-23
Mar-22
382.3
237.7
144.6
37.8%
12.8
63.4
68.5
17.9%
1.6
7.6
62.5
2.5
60.0
16.6
43.4
11.4%
8.68
298.0
185.3
112.6
37.8%
10.4
45.0
57.2
19.2%
1.2
6.4
52.0
3.2
48.8
12.4
36.5
12.2%
7.31
404.0
292.9
111.1
27.5%
9.1
46.2
55.7
13.8%
1.2
3.5
53.4
3.6
49.8
12.1
37.7
9.3%
7.55
537.1
398.1
139.0
25.9%
9.5
44.9
84.6
15.8%
1.4
3.1
82.9
3.9
79.0
20.4
58.6
10.9%
11.75
35
Consolidated Historical Balance Sheet
Particulars (Rs in Crs)
Equity Share Capital
Other Equity
Total Equity
Financial Liabilities
(i) Borrowings
(ii) Lease liabilities
Provisions
Deferred Tax Liabilities (Net)
Total Non-Current Liabilities
Financial Liabilities
(i) Borrowings
(ii) Lease liabilities
(iii) Trade payables
(iii) Other Financial Liabilities
Provisions
Current Tax Liabilities (Net)
Other Current Liabilities
Total Current Liabilities
Total Equities & Liabilities
Mar-25 Mar-24 Mar-23 Mar-22
Particulars (Rs in Crs)
Mar-25 Mar-24 Mar-23 Mar-22
5.0
296.1
301.1
5.0
275.2
280.2
5.0
245.7
250.7
5.0
211.9
216.9
0.0
1.1
0.8
6.5
8.5
64.1
0.3
19.0
1.7
0.0
0.5
0.9
0.4
0.5
0.6
3.7
5.1
19.4
0.1
16.0
2.4
0.0
0.1
1.7
4.7
0.7
0.6
2.1
8.1
45.0
0.0
22.8
1.9
0.2
0.4
2.0
16.0
0.0
0.6
2.6
19.2
73.5
0.0
36.8
1.7
0.2
0
3.4
86.5
396.1
39.2
324.5
72.3
331.1
115.6
351.7
Property, Plant and Equipment
125.7
125.5
Capital Work-in-progress
Right to Use
Other Intangible Assets
Other financial assets
Other Non Current Assets
4.0
1.4
7.3
2.0
3.5
4.0
0.5
7.4
1.9
0.4
44.0
68.5
3.8
7.5
0.0
0.1
Total Non-Current Assets
143.7
139.6
123.9
74.9
56.3
60.5
35.7
37.2
3.2
7.6
0.0
0.1
83.9
72.7
Inventories
Financial Assets
(i) Trade Receivable
(ii) Cash and Cash Equivalents
(iii) Other Bank Balances
(iv) Loans
(v) Other Current Financial Assets
Current Tax assets (Net)
Other Current Assets
Total Current Assets
Total Assets
128.6
19.8
7.6
1.3
1.7
0.0
18.4
252.3
396.1
88.3
12.1
7.1
1.2
2.3
0.0
17.5
184.9
324.5
100.8
150.1
7.3
0.3
0.9
13.8
0.0
23.6
1.0
0.5
0.9
11.3
0.4
31.0
207.2
331.1
267.9
351.7
36
Consolidated Historical Cash Flow Statement
Cash Flow Statement
Cash Flow from Operating Activities
Profit before Tax
Adjustment for Non-Operating Items
Operating Profit before Working Capital Changes
Changes in Working Capital
Cash Generated from Operations
Less: Direct Taxes paid
Net Cash from Operating Activities
Cash Flow from Investing Activities
Cash Flow from Financing Activities
Net increase/ (decrease) in Cash & Cash equivalent
Cash & Cash Equivalents at the beginning of the period
Cash & Cash equivalents at the end of the period
Mar-25
Mar-24
Mar-23
Mar-22
60.0
11.9
71.92
(63.2)
8.8
(13.3)
(4.6)
(6.9)
19.2
7.7
12.1
19.8
48.8
9.1
57.91
24.4
82.3
(11.1)
71.2
(25.4)
(40.2)
5.6
6.5
12.1
49.8
7.0
56.82
50.9
107.7
(11.8)
95.9
(42.4)
(47.5)
6.1
1.2
7.3
78.9
6.7
85.7
(85.6)
0.0
(21.5)
(21.5)
(40.3)
52.6
(9.1)
10.3
1.2
37
Sustainable Return Ratios
Cash flow from Operations Borrowings
Borrowings and Cash & Cash Equivalents
ROCE (%)
Cash & Cash Equivalents
Borrowings
89.5
27.0%
95.9
71.2
49.7
64.1
27.4
19.2
19.8
17.8%
17.4%
17.1%
-21.5
Mar-22
-4.6
1.5
7.6
Mar-23
Mar-24
Mar-25
Mar-22
Mar-23
Mar-24
Mar-25
Mar-22
Mar-23
Mar-24
Mar-25
ROE (%)
Net Debt to Equity (x)
27.0%
0.4
15.0%
13.0%
14.4%
0.2
0.1
0.0
Mar-22
Mar-23
Mar-24
Mar-25
Mar-22
Mar-23
Mar-24
Mar-25
Rs. In Crs
38
COMPANY :
Vidhi Specialty Food Ingredients Limited
CIN :L24110MH1994PLC076156
Mr. Mitesh Manek - CFO Email: mitesh.manek@vidhifoodcolors.com
www. www.vidhifoodcolors.com
INVESTOR RELATIONS ADVISORS :
MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Market Services
MUFG (Investor Relations)
Mr. Parth Patel Parth.patel@in.mpms.mufg.com
Ms. Vidhi Vasa Vidhi.vasa@in.mpms.mufg.com
Meeting Request
Link
Thank You