DSM Fresh Foods Limited · BSE:ZAPPFRESH
DSM Fresh Foods — Investor Presentation (March 2026)
40 slides from DSM Fresh Foods's investor presentation, Mar 9, 2026
Slide 1: BSE Regulation 30 Investor Presentation Cover Letter
Dated:- March 09, 2026 To, Zappfresh™ .com Listing Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001, M aharashtra, In dia Scrip Code: 544568 Scrip ID: ZAPPFRESH Sub: Investor Presentation under Regulation 30 of the Securities Exchange Board of India (Listing Obligatio
Slide 2: Investor Presentation
Zappfresh™ DSM Fresh Foods Limited Streamlining I '~ f O'O<L Platform Investor Presentation
Slide 3: Safe Harbour
Safe Harbour The presentation has been prepared by DSM Fresh Foods Ltd. (the "Company") solely for information purposes and does not constitute an offer to sell or recommendation or solicitation of an offer to subscribe for or purchase any securities and nothing contained herein shall form the basis
Slide 4: Table of Contents
Table of Contents Company Overview 04 USPs 12 Strategic Priorities 18 Half-Yearly Performance 28 Annexures 32
Slide 5: Company Overview
Company EE Overview a
Slide 6: A Decade of Trusted Execution
DSM Fresh Foods Limited : A Decade of Trusted Execution Zappfresh'" Integrated Farm-to-Fork Fresh Food Platform _________________,_ . ,••_ 1t15 #1 11,•--------------- 3 advanced meat processing facilities with Rs. 9,585 Lacs end-to-end automation Revenue H1 FY26 Multi-category manufacturing capabili
Slide 7: Vertically Integrated Business Model
Vertically Integrated Business Model Zappfresh'" Ensuring End-to-End Quality Control Uniquely Disrupting the Traditional Supply Chain with a Full Stack Approach Consistently Delivering High Quality Products Bypassing Mandi gives Bypassing Wholesales/ 6-8% margin Traders gives 12-14% margin Primary S
Slide 8: Solving Supply Chain Gaps through Scale & Technology
Solving Supply Chain Gaps through Scale & Technology Zappfresh" From Inefficiencies to Integration II Challenges ------------------> ~ Interventions Fragmented and Integrated, Tech- 0 Inefficient Supply Chain Enabled Supply Chain 0 Poor Hygiene & Quality Modern Processing Units 0 Standards with Stan
Slide 9: Curated SKU Assortment
Curated SKU Assortment Zappfresh'" Improving Margins Through Scale, Mix, and Efficiency RTE/RTC Chicken Mutton Fish & Seafood Zappfresh'" Zappfresh™ Zappfresh'M
Slide 10: Industry Momentum
Industry Momentum Zappfresh'" Structural growth across HoReCa, Packaged Food and RTEIRTC categories India HoReCa Market (In INR Bn) Indian Food Processing Market (In INR Bn) RTE/RTC* (In INR Bn) 24066 2025 -90% of the meat processing market remains 2035 (P) 2019 2024 2029 (P) Domestic Packaged Meat/
Slide 11: Shift in Trends & Lifestyle
Industry Momentum Zappfresh'" Shift in Trends & Lifestyle Formalization of Health, Nutrition & Digital & Quick Lifestyle & Convenience-led Meat Supply Protein Focus Commerce Expansion Consumption Shift Unorganized wet markets Rising awareness E-grocery and quick- Time constrained working are gradual
Slide 12: Company Journey and Vision
Zappfresh'" "' .. -~ . ti ~ . _.:.~~· .......:·. ~ · .: Za ppfresh began as a focused processed meat company, building deep "·' ·. ~ ~~\:._,.. ~... . expertise in sourcing, cold-chain management and supply chain execution. ... · ., ~~ ·... "'·~ Oyer time, we have perfected a technology-led, farm-to-
Slide 13: USPs
USPs
Slide 14: HoReCa Partner Network
HoReCa Partner Network Zappfresh'" Long-Term, Strong Relationships with Institutional Customers Supporting over 300 restaurants and partners, creating a diversified and stable revenue base , " ~ 'I zepto BUFFALO m hyperpure c.~ BY ZOMATO ... , • ~ " .. ffi BO~\B\YRI[ _J , -- " !>.. WILD WINGS IMPERI
Slide 15: Integrated Secondary Processing
Integrated Secondary Processing Zappfresh'" Tight Control Over Quality, Yield, and Specifications Plant 1 : -1,800 tons annually Zappfresh~ Delhi Plant 2: -1,000 tons annually Zappfresh~ Mumbai Plant 3: -soo tons annually Zappfresh~ Bangalore Plant 4: -s.soo tons annually Chandigarh ----------------
Slide 16: Geographic Revenue Split
Diversified Business Operations - Geographic Revenue Split Zappfresh'" Balanced state-wise contribution Registered Office Uttar Pradesh ~ ------- ~Q Corporate Office Cold Storage 410/o 220/o ----------------------------------------------~~!...___________________________________________ 15
Slide 17: 360° Marketing Strategy
360° Marketing Strategy Zappfresh'" Consistent Brand Messaging Across Every Consumer Touchpoint Social Media Branding by Influencers HT City Unwind gave us a Villuabl1 opportunity to Introduce Meevu Foods to i1 lar91 and diverse Hdlence In Delhi . DEEPANSHU MANCHANDAJOUNDER AND DIRECTOK, ZAPPFRESH •
Slide 18: Regulatory & Quality Certifications
Regulatory & Quality Certifications Zappfresh'" Ensuring Trust, Traceability, and Consistency End-to-end quality controls and certified processes drive superior, repeatable outcomes ~ ISO 9001 :2008 ,, SMSLA Quality Management System
Slide 19: Strategic Priorities
Strategic Priorities
Slide 20: Path to FY28
Path to FY28 Zappfresh'" Scaled Growth with Structural Margin Improvement by FY28 In Lacs. 19.0% 17.0% 5.5% 5,628 FY23 FY25 FY28 Indicators- Reven ue - EBITDA Margins
Slide 21: Acqui-Hiring Model
1. Acqui-Hiring Model Zappfresh'" Proven Acquisition - Led Value Creation Before Acquisition After Acquisition (Dr. Meat) Sukos Food Pvt. Brand consolidated under Zappfresh Ltd. - Acquired July, 2023 -4x revenue growth in the very first year post- · Loss-making operations acquisition Inefficient bus
Slide 22: Automated, Export-Ready Manufacturing Platform
1a. Automated, Export-Ready Manufacturing Platform Zappfresh'" Scalable, Multi-Product Manufacturing Backbone -30,000 sq. ft. facility with four parallel, automated I semi-automated production lines and in-house QA/QC labs, enabling consistent quality and scalable multi-product throughput. Export-Re
Slide 23: Meevaa Foods - Diverse Brand Portfolio
1b. Meevaa Foods - Diverse Brand Portfolio Zappfresh'" Export Grade Quality RTEIRTC Products Breakfast Snacks & Indian Indian Formed Product & Indian Oriental Range Fritters Range Gravy Range Bread Range Roll Range Sauce Range '' • •• ~ '' ' \,;J --------- ----- ---------- ---------- -----' ---- - -
Slide 24: Geographic Footprint & Strategic Expansion Roadmap
2. Geographic Footprint & Strategic Expansion Roadmap Zappfresh'" Deepening Domestic Reach; Expanding Globally Currently Tapped Geographies Plans Ahead ,,. Middle East Expansion in new geographies including newer states like Telangana and Tamil Nadu and overseas markets like Europe, US, Canada and M
Slide 25: Growth Playbook Across Domestic and International Markets
2a. Growth Playbook Across Domestic and International Markets Zappfresh'" 3 - fold Scale Up Strategy Pin-Code Led Expansion (Zappfresh ) • Active reach across more pin codes within existing geographies • Expansion focused on consumption-heavy cities + increase in serviceable demand pockets Meevaa Fo
Slide 26: Asset-Light, High Recall Retail Network
2b. Asset-Light, High Recall Retail Network Zappfresh'" Low Capex, Partner-led Expansion Low Investment Model Minimal upfront capital (Rs. 3-5 Lacs Capex) enables faster rollout, lower risk, and quicker break-even per store. Co-Branded Expansion Model Partner-driven rollout accelerates market penetr
Slide 27: Continuous Product Portfolio Expansion
3. Continuous Product Portfolio Expansion Zappfresh'" Building New Verticals to complement & strengthen the core Introduction of more SKUs - Upcoming Acquisitions to diversify Higher Emerging Category Complementary to current Portfolio Product Profile Products 0 Complementary Diversified Portfolio -
Slide 28: Backward Integration in Seafood
4. Backward Integration in Seafood Zappfresh'" Secure supply, improve cost control and structurally expand margins Supply Platform Creation > • Developing - 500 tons annual capacity aquaculture project • 300-farmer sourcing alliance via FPO model to secure supply Strategic Upside Integrated aquacult
Slide 29: Financial Performance
Financial Performance
Slide 30: Management Commentary
Management Commentary Zappfresh'" Mr. Deepanshu Manchanda, Managing Director & Chairman Zap pfres h was founded in 201 s with a c1ear belief: Indian consumers deserve fresh, safe, and transparently sourced meat they can trust. Over the past decade, that belief has shaped a quality-first platform bui
Slide 31: H1 FY26 Financial Snapshot
H1 FY26 Financial Snapshot Zappfresh'" I Revenue EBITDA Margins 7.7% --+ 15.9% 5.4% --+ 12.2% 3.6% -+ 7 .3% H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26 H1FY25 H1FY26
Slide 32: Half Yearly Financial Performance
Half Yearly Financial Performance Zappfresh'" Particulars {INR Lacs) H1FY26 H1FY25 Y-o-Y {0/o) H2FY25 H-o-H {0/o) Revenue from Operations 9,585 6,692 43.2% 6,381 50.2% Expenses 8,058 6,174 30.5% 5,269 52.9% EBITDA 1,527 518 194.5% 1,112 37.3% EBITDA Margins(%) 15.9% 7.7% 818 bps 17.4% -150 bps Depre
Slide 33: Annexure
Annexure
Slide 34: Our Strong Leadership
Our Strong Leadership Zappfresh'" Mr. Deepanshu Manchanda Mrs. Priya Aggarwal Mr. Mohammad Arif Khan Managing Director & Chairman Director Director MBA; 16+ Years in Strategy MBA; 13+ Years Of Experience In B.E. Chemical Engineering ; 10+ Years Of And Partnership/Alliances Brand Strategy And Communi
Slide 35: CSR Initiatives
CSR Initiatives Zappfresh'" Empowering Women Farmers Through Sustainable Livelihoods CSR Partnership Driving inclusive and sustainable livelihoods for women farmers below the poverty line. Direct Procurement Zappfresh to source 1,000 kg of poultry directly from women farmers, ensuring fair pricing a
Slide 36: The Growth Curves
The Growth Curves Zappfresh'" Delivering Growth - Strengthening Bottom Line - Revenue and Margin Expansion PAT and Margins trend ------10.3% - 2.5% 4.9% \...__ 5 .2% ~ ----- 5.5% ------- • FY23 FY24 FY25 .. FY23 FY24 FY25 - Revenue (INR Lacs) - EBITDA Margins(%) - PAT (INR Lacs) PAT Margins (%) Retu
Slide 37: Historical Income Statement
Historical Income Statement Zappfresh'" Particulars (IN R Lacs) FY23 H1 FY26 Revenue from Operations 5,628 9,044 13,073 9,585 - -·- - .. - -- - .. -- - - --·- - -- - - - . - --- - .. - .. -· - .. - ... - - -- . - -- ----- -- -- - - - - .. --- - .. - .. - - - -- .. - - .. - ... - - .. - -- - - . ' .
Slide 38: Historical Balance Sheet
Historical Balance Sheet Zappfresh'" Particulars {INR Lacs) Particulars (INR Lacs) Equity Non-Current Assets Equity Share Capital 8 9 1,638 1,638 Property, plant and equipment 69 459 551 486 - - -·- - - - -·-·- - -·-·- --- - - -·- - --- - -·- -·- - -·- -·- - - -·--- - - - - - - -·- -·- -·- - - - -·-
Slide 39: Historical Cash Flow Statement
Historical Cash Flow Statement Zappfresh'" Cash Flow From Operations -242 -1,304 -1,518 -979 Cash Flow From Investments -101 -491 -1,046 21 Cash Flow From Financing 310 2,202 2,220 1, 104 Net Cash Flow -33 407 -344 146
Slide 40: Thank You!
Thank You! Go India Advisors Unblas~ S Balanced Zappfresh" Investor Relations Mr. Harsh Agarwal Ms. Garima Singla Ms. Mehal Gogia DSM Fresh Foods Limited Tel : +91-9780042377 Tel: +91-9140969229 Tel :+ 91-9987159006 Email : [email protected] Email : [email protected] Email : harsh.a