Vidhi Specialty Food Ingredients Ltd · NSE:VIDHIING
Vidhi Specialty Food Ingredients — Q2 FY27 Earnings Presentation
46 slides from Vidhi Specialty Food Ingredients's earnings presentation, Oct 26, 2026
Slide 1: Exchange filing cover letter for investor presentation
October 26,2026 To, To, The Manager The Manger Department of Corporate Services (DCS-Listing) Listing Compliance BSE Limited, National Stock Exchange India Limited, Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot No. C/1, G-Block, Dalal Street, Fort, Bandra-Kurla Complex, Mumbai- 400001 Bandra (East
Slide 2: Vidhi Specialty Food Ingredients Limited Investor Presentation October 2026
Vidhi Specialty Food Ingredients Limited Investor Presentation October 2026
Slide 3: Table of content
Table of content 01 02 Company Overview Financial Performance 03 04 Strong Business Outlook & Rationalization Model Measures 2
Slide 4: Company Overview
Company Overview
Slide 5: Vidhi – At a Glance
Vidhi – At a Glance 50% Of Electricity 30 Years of Mfg Exp Consumption Of Roha 7500 TPA 12 Sectors catered Facility Generated From Capacity to Solar Power Plant Captive Power Supply 3 Production Facilities. 500 Gms to 500 Kgs, Two Star Export Advanced Products available in House manufacturing severa
Slide 6: Vidhi – Over 3 Decades of Legacy
Vidhi – Over 3 Decades of Legacy Company enjoys a Premier Position in the Synthetic Food, Drug & Cosmetic Colors in India One of the few companies in India and Globally offering the complete portfolio of colors meant for human consumption and use. Existing Business Growth Levers Enhanced Product Por
Slide 7: Multi-Sector Opportunity with Strong Regulatory Alignment
Multi-Sector Opportunity with Strong Regulatory Alignment Common Regulatory Sr.No. Sector Typical Applications Frameworks Confectionery, beverages, dairy, bakery, snacks, sauces, 1 Food & Beverage FSSAI, FDA, EFSA, Codex processed foods 2 Pharmaceuticals Tablets, syrups, capsules, coatings, nutraceu
Slide 8: Q2 & H1FY27 Financial Performance (Consolidated)
Q2 & H1FY27 Financial Performance (Consolidated)
Slide 9: Business Update
Business Update Managements Comments Dear Shareholders, At Vidhi, we believe we are at a defining point in our journey. Over the years, we have built a strong foundation anchored in quality, innovation, customer trust, and global credibility. Today, we are entering an exciting new chapter where mult
Slide 10: Q2 FY27 Performance Highlights
Q2 FY27 Performance Highlights Q2 FY27 (Y-o-Y) Rs. 136.5 Cr Rs. 26.4 Cr Rs. 17.6 Cr Revenue EBITDA PAT 82.0% Y-o-Y 49.2% Y-o-Y 66.9% Y-o-Y Highlights The company reported better performance due to increase in demand. • Revenue from Operations stood at Rs. 136.5 Cr. in Q2 FY27 as against Rs. 75.0 Cr.
Slide 11: Break up of Sales
Break up of Sales Half Yearly Particulars H1 FY27 (Rs. in Cr) H1 FY26 (Rs. in Cr) Manufacturing Sales 208.2 146.3 Trading Sales 74.6 16.6 Revenue from Operation 282.8 162.9 Quarterly Q2FY27 Q1FY27 Particulars Manufacturing Q1 25-26 Q2 25-26Manufacturing Q3 25-26 Q4 25-26 Particulars (Rs. in Cr) Manu
Slide 12: Q2 & H1 Consolidated Key Highlights
Q2 & H1FY26 Consolidated Key Highlights Revenue from Operations (Rs. in Crs) EBIDTA (Rs. in Crs) Profit after Tax (Rs. in Crs) 23.6% 19.3% 23.5% 18.5% 14.1% 12.9% 14.3% 12.3% +74% +37% +49% 282.8 52.4 34.7 38.2 23.3 +82% +49% +66% 162.9 136.5 26.4 17.6 17.7 10.6 75.0 Q2 FY26 Q2 FY27 H1 FY26 H1 FY27
Slide 13: Q2 FY27 Consolidated Profit & Loss Statement
Q2 FY27 Consolidated Profit & Loss Statement Particulars (Rs in Cr) Q2 FY27 Q2 FY26 Y-o-Y Q1 FY27 Q-o-Q H1 FY27 H1 FY26 Y-o-Y Revenue from Operations 136.5 75.0 82.0% 146.3 -6.7% 282.8 162.9 73.6% Cost of Goods Sold 84.3 36.9 97.2 181.5 86.8 Gross Profit 52.2 38.1 37.1% 49.1 6.3% 101.3 76.1 33.1% GP
Slide 14: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs in Crs) Sep-26 Mar-26 Particulars (Rs in Crs) Sep-26 Mar-26 Equity Share Capital 5.0 5.0 Property, Plant and Equipment 130.7 133.0 Other Equity 357.5 322.8 Capital Work-in-progress 4.7 3.9 Total Equity 362.5 327.8 Right to Use Assets 0.8 1.0 Financial Liabi
Slide 15: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement Sep-26 Sep-25 Cash Flow from Operating Activities Profit before Tax 46.7 32.0 Adjustment for Non-Operating Items -6.0 -6.6 Operating Profit before Working Capital Changes 52.7 38.6 Changes in Working Capital -14.7 13.8 Cash Generated from Operatio
Slide 16: Strong Business Model
Strong Business Model
Slide 17: Next Leg Of Growth – Capacity Addition at Roha & GIDC Dahej
Next Leg Of Growth – Capacity Addition at Roha (Arjun) & GIDC Dahej Expansion Of Production In Related Industries Based On Current Product Basket Of The Company Project 1 Key end user application: Pharma and healthcare Capacity: Planned 200 MT per month in 2 phases at Arjun Foods, a wholly-owned sub
Slide 18: Outlook & Rationalization Measures
Outlook & Rationalization Measures
Slide 19: All About Food Colours
All About Food Colours Why Food Colours??? Research shows that 90% of buyers make a decision to Food colours are ingredients that Colours when added to food This influences consumers purchase a product after seeing are added to food or beverage to products imparts very bright and decisions to purcha
Slide 20: Food Colour Industry
Food Colour Industry Broadly divided into Natural Colour Artificial Market with Limited Competition due to High entry Colour barriers 5% Export Synthetic Colours Domestic Cost-effective & high tint Wide shade range for strength mass products 95% Huge Opportunity in the export as well as India accoun
Slide 21: Food Colour Industry Overview
Food Colour Industry Overview Industry Potential Industry Dynamic USD Bn Food Colour Industry Growth Why Food Colours? o Enhances visual appeal -often a proxy for quality o Provides consistency and stability o Influences flavour profile +8.13% 311.7 CAGR High Barrier To Entry o Stringent regulations
Slide 22: About Vidhi Specialty Food Ingredients
About Vidhi Specialty Food Ingredients An Institution in Edible Colour Technology 2nd Accreditation Capabilities Presence Largest food colour manufacturer in US FDA, BIS, ISO, FSSC, HACCP, CGMP, Existing Capacity of over ~7,500 MT p.a. Over 80 Countries and 6 continents Asia EXIPACT + ~4,200 MT p.a.
Slide 23: Product Portfolio
Product Portfolio Synthetic Water Drug & Cosmetic FD&C Certified Blends Aluminum Lakes Others Soluble Colours Dyes & Lakes Water Soluble Colours & Lakes 01 02 03 04 05 06 Full range of 14 Range of Full range of U.S. We can develop Full range Of Co-blended Lakes water soluble Certified D&C FDA Certif
Slide 24: Our Journey
Our Journey 1994 2000 2005 2011 2015 2019 2023 2025 2026 Vidhi Dyestuffs Mfg. Increased Production Brownfield expansion Capacity doubled from 325 CoatIcon – Advanced Ltd. incorporated with Capacities to 90 MT / Month with capacities increased MT to 675 MT per month with Coating Solutions by Vidhi pr
Slide 25: Existing Manufacturing Facility
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 stat
Slide 26: Diversified End User Industry
Diversified End User Industry Confectionaries & Food Bakery Pet Foods Pharmaceuticals Personal Care Beverages Products Cosmetics Home Care Products 25
Slide 27: Diversified End User Application and Marquee Customers
Diversified End User Application and Marquee Customers Confectionaries & Personal / Home Pet food, Cattle & Food & Beverage Pharmaceuticals Bakery Care Poultry feed Customer & Industry Diversity Britannia Unilever Procter & Gamble Nestle Mars Pepsi Kraft Pfizer Kerry Coca-Cola Sanofi ITC Cipla Cadil
Slide 28: Global Footprint
Global Footprint Continent Wise Sales 3% 6% 0% 1% 25% 22% Q2 FY27 H1FY27 52% 19% 52% 19% AFRICA AMERCIAS AUSTRALASIA EUROPE MIDDLE EAST Diversified Geographical Presence Top 10 countries contribute to ~78.73% and ~ 78.08% Exporting to more than 80 countries across 5 Continuous addition of new custom
Slide 29: Presence across the Globe
Presence across the Globe Two- Star Export House Status holder Exporting TO 80 Countries Over All 6 Continents 28
Slide 30: Certifications & Regulatory Approvals
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 Company’s all products are certified company Kosher & Halal approved The Management Of Food Hazard Analysis (H
Slide 31: Technology and R&D strength
Technology and R&D strength Dedicated R & D facility with a Fully equipped & functional team of PHD’s & qualified laboratory accredited by The chemists, constantly working on Bureau of Indian Standards process engineering of existing forms the core of Quality products and on development of Control D
Slide 32: Growth Drivers of the Company
Growth Drivers of the Company Superior quality and Access to international global outreach selling and sourcing markets Large domestic market with increased income and Established production expenditure on consumer facilities. products Pro industry initiative Management experience taken by the Gover
Slide 33: High Entry Barriers
High Entry Barriers Technical Know-how Quality Control Process • Technical know-how with years of experience for • Follow stringent quality control norms on batch wise continuous development of new products & colours before delivery to the customer • With strong controls and processes in place, able
Slide 34: Key Differentiators
Key Differentiators Renowned name in Food Colour Industry Product Regulatory Large Product Variants Highly Regulated Market Diversified Usages Consistency is a Key Diversified customers Long Customer Approval Cycle Long standing relationships with Large MNC as a customers Customer & Geography Expans
Slide 35: Our Strength
Our Strength TECHNOLOGY R&D QUALITY Fully equipped & functional laboratory 2 Dedicated R & D facilities with a team Stringent checks and processes accredited by The Bureau of Indian of PHD’s & qualified chemists, established at each stage from Raw Standards forms the core of Quality constantly worki
Slide 36: Experienced Board of Directors
Experienced Board of Directors Mr. Bipin M. Manek Mr. Mihir B. Manek Mrs. Pravina B. Manek Mrs. Vidhi H. Parekh Chairman & Joint Managing Non-Executive Wholetime Managing Director Director Director Director Mr. Anil P. Udeshi Mrs. Pranali P. Govekar Mr. Ashit K. Doshi Mrs. Jyoti S. Modi Independent
Slide 37: Strong Management Team
Strong Management Team Mr. Bipin M. Manek Rich & Diversified experience of over 35 years in the field food colour manufacturing. Acknowledged as a thought Chairman & leader in transforming the Company from a small food color manufacturing company to the Asia’s 2nd largest food Managing Director colo
Slide 38: Historical Financials Performance
Historical Financials Performance
Slide 39: Consolidated Operating Performance
Consolidated Operating Performance Revenue from Operations EBIDTA (Rs. in Cr) Profit before Tax (Rs. in Cr) Profit after Tax (Rs. in Cr) (Rs. in Cr) +14% +10% +13% -1% 404.0 78.0 65.8 49.0 382.3 380.0 60.0 43.4 68.5 49.8 37.7 36.5 298.0 57.2 48.8 55.8 FY23 FY24 FY25 FY26 FY23 FY24 FY25 FY26 FY23 FY2
Slide 40: Consolidated Historical Profit & Loss Statement
Consolidated Historical Profit & Loss Statement Particulars (Rs in Cr) Mar-26 Mar-25 Mar-24 Mar-23 Revenue from Operations 380.0 382.3 298.0 404.0 Cost of Goods Sold 216.3 237.7 185.3 292.9 Gross Profit 163.7 144.6 112.6 111.1 GP % 43.1% 37.8% 37.8% 27.5% Employee Benefits Expense 16.1 12.8 10.4 9.1
Slide 41: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (Rs. in Cr) Mar-26 Mar-25 Particulars (Rs. in Cr) Mar-26 Mar-25 Equity Share Capital 5.0 5.0 Property, Plant and Equipment 133.0 125.7 Other Equity 322.8 296.1 Capital Work-in-progress 3.9 4.0 Total Equity 327.8 301.1 Right to Use Assets 1.0 1.4 Financial Liabi
Slide 42: Consolidated Historical Balance Sheet
Consolidated Historical Balance Sheet Particulars (Rs. in Crs) Mar-26 Mar-25 Mar-24 Mar-23 Particulars (Rs. in Crs) Mar-26 Mar-25 Mar-24 Mar-23 Equity Share Capital 5.0 5.0 5.0 5.0 Property, Plant and Equipment 133.0 125.7 125.5 44.0 Other Equity 322.8 296.1 275.2 245.7 Capital Work-in-progress 3.9
Slide 43: Consolidated Historical Cash Flow Statement
Consolidated Historical Cash Flow Statement Cash Flow Statement (Rs. in Cr) Mar-26 Mar-25 Mar-24 Mar-23 Cash Flow from Operating Activities Profit before Tax 65.8 60.0 48.8 49.8 Adjustment for Non-Operating Items (14.4) 11.9 9.1 7.0 Operating Profit before Working Capital Changes 80.1 71.9 57.9 56.8
Slide 44: Sustainable Return Ratios
Sustainable Return Ratios Rs. In Crs Cash flow from Operations Borrowings Borrowings and Cash & Cash Equivalents ROCE (%) Cash & Cash Equivalents Borrowings 64.1 17.8% 18.4% 17.4% 17.1% 95.9 56.5 49.7 71.2 42.4 27.4 19.2 19.8 20.0 7.6 -4.6 Mar-23 Mar-24 Mar-25 Mar-26 Mar-23 Mar-24 Mar-25 Mar-26 Mar-
Slide 45: Safe Harbor
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 an
Slide 46: Thank You
COMPANY : Vidhi Specialty Food Ingredients Limited CIN :L24110MH1994PLC076156 Mr. Mitesh Manek - CFO Email: [email protected] www. www.vidhifoodcolors.com INVESTOR RELATIONS ADVISORS : MUFG Intime India Private Limited A part of MUFG Corporate Markets, a division of MUFG Pension & Mar
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