- POSITIVE
Annual Revenue DSM Fresh Foods Mar-2026 Annual Revenue is Rs 222 Cr which is growth of 69.1% YoY.
- POSITIVE
Annual Net Profit DSM Fresh Foods Mar-2026 Annual Net Profit is Rs 14 Cr which is growth of 58.7% YoY.
DSM Fresh Foods was incorporated on May 20, 2015. The company, established in 2015, is an online fresh meat and ready-to-cook/eat products retailer. It offers hygienically sourced mutton, poultry, seafood, and exotic meats through its website and mobile app, ensuring freshness, timely delivery, and a convenient customer experience
| Bidding Dates |
|---|
| 26 Sep 2025 - 06 Oct 2025 |
| Subscription |
|---|
| 1.33x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹230,400 | 2 | 2 | 1200 | 5.9 M | ₹95 - ₹100 | 28.11 % | ₹561.1 M - ₹590.6 M | RHP DOC |
DSM Fresh Foods IPO SUBSCRIPTION STATUS
06 Oct '25Total1.33x
Retail Individual Investor1.27x
HNI (NII) Investors3.24x
Qualified Institutional Buyers0.8x
DSM Fresh Foods IPO overall subscription rate was 1.33 times the total available shares
DSM Fresh Foods IPO retail subscription rate was 1.27 times in the retail segment
DSM Fresh Foods IPO non-institutional investor subscription rate was 3.24 times in the non-institutional investor category
DSM Fresh Foods IPO Qualified Institutional Bidder subscription rate was 0.8 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Oct 2025 (Day 6) | 1.27x | 3.24x | 0.8x |
03 Oct 2025 (Day 5) | 0.67x | 2.17x | 0.76x |
01 Oct 2025 (Day 4) | 0.38x | 1.55x | 0.53x |
30 Sep 2025 (Day 3) | 0.35x | 0.95x | 0.53x |
29 Sep 2025 (Day 2) | 0.18x | 0.28x | 0.23x |
26 Sep 2025 (Day 1) | 0.11x | 0.28x | 0.23x |
DSM Fresh Foods FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 130.7 | 9.1 | -16.7 | -20.8 | 13.0% |
| FY24 | 90.4 | 4.7 | -13.0 | -18.0 | 0.1% |
| FY23 | 56.3 | 2.7 | -2.4 | -3.4 | 0.1% |
DSM Fresh Foods IPO SUBSCRIPTION STATUS DETAILS
DSM Fresh Foods had 5.9 M shares on offer
DSM Fresh Foods IPO offer price was in the range ₹95 - ₹100
DSM Fresh Foods IPO minimum Investment was ₹230400
DSM Fresh Foods IPO issue size was ₹ 561.1 M - ₹ 590.6 M
DSM Fresh Foods had a minimum lot size of 1200 Shares per application
DSM Fresh Foods NUMBER OF SHARES ON OFFER
Total5.9 M
Fresh Issue5.9 M
Offer for Sale0
Post Issue Promoter Holding %28.11 %
DSM Fresh Foods IPO IMPORTANT DATES
| Issue Open Date | 26 Sep 2025 |
| Issue close Date | 06 Oct 2025 |
| Allotment Date | 07 Oct 2025 |
| Refund Date | 08 Oct 2025 |
| Demat Account Credit Date | 08 Oct 2025 |
| Listing Date | 09 Oct 2025 |
| Listing on Exchange(s) | BSE |
| DSM Fresh Foods Allotment Status | Exchange/ Registrar |
DSM Fresh Foods IPO subscription opened on 26 Sep 2025, and closed on 06 Oct 2025
IPO allotment for DSM Fresh Foods was finalized on Tuesday, 07 Oct 2025
IPO listing for DSM Fresh Foods was on BSE on Thursday, 09 Oct 2025
DSM Fresh Foods IPO LISTING GAINS
| Issue Price (adjusted) | 100.0 |
| Listing Open Price | 120.0 |
| Listing Close Price | 126.0 |
| Listing Gain% | 20.0% |
| Current Gain% | -48.7% |
DSM Fresh Foods Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| DSM Fresh Foods Ltd. | 51.3 | 114.3 | 8 | 0.5 | 12.4 | 7.4 | 222.3 | 14.3 | 6.4 | ||||
| Varun Beverages Ltd. | 432.8 | 146394.4 | 42.2 | 2.5 | 5.7 | 15.5 | 11.9 | 22037.7 | 9.5 | 3036.5 | 17 | 10.3 | 16.9 |
| Manorama Industries Ltd. | 1984.1 | 12524.1 | 45.7 | 0.8 | 7.7 | 33 | 18.8 | 1377.1 | 73.9 | 224.9 | 104.9 | 43.4 | 60.6 |
| EID Parry (India) Ltd. | 654.9 | 11654.3 | 39.7 | -0.5 | 0.3 | 6.5 | 1.9 | 38883.4 | 21.6 | 569.5 | -35.2 | 16.5 | -74.5 |
| Avanti Feeds Ltd. | 746.6 | 10172.1 | 22.8 | -0.8 | 1.6 | 18.4 | 14.2 | 6276.5 | 8.6 | 606.1 | 14.6 | 32.8 | -27.8 |
| Sanstar Ltd. | 100.7 | 1834.7 | 37.3 | 0.3 | 2.2 | 5.2 | 4.3 | 796.4 | -18 | 34.4 | -21.3 | 2.7 | 145.3 |
Annual
Balance Sheet
Ratios
Cash Flow
DSM Fresh Foods annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 |
|---|---|---|---|---|---|---|
57.8% | 222.3 | 131.5 | 90.7 | 56.6 | ||
Operating Exp. Ann. | 52.8% | 189.7 | 114.4 | 81.1 | 53.2 | |
Operating Profit Ann. | 115.7% | 31.1 | 16.3 | 9.3 | 3.1 | |
OPM Ann. % | 37% | 14.00% | 12.40% | 10.30% | 5.44% | |
54.6% | 198.8 | 119.8 | 83.1 | 53.8 | ||
EBITDA Ann. | 112.4% | 32.6 | 17.1 | 9.6 | 3.4 | |
EBITDA Ann. margin % | 34.6% | 14.67% | 12.97% | 10.56% | 6.02% | |
Interest Ann. | 184.4% | 6.9 | 3.8 | 0.9 | 0.3 | |
Depr. | 76.5% | 2.2 | 1.6 | 1 | 0.4 | |
PBT Ann. | 102.4% | 23.2 | 11.7 | 7.6 | 2.8 | |
Tax Ann. | 344.8% | 8.8 | 2.6 | 3 | 0.1 | |
74.7% | 14.4 | 9.1 | 4.7 | 2.7 | ||
Net Profit Ann. | 74.7% | 14.4 | 9.1 | 4.7 | 2.7 | |
NPM Ann. % | 10.2% | 6.50% | 6.92% | 5.15% | 4.86% | |
EPS Adj. latest Ann. | 75.6% | 6.5 | 4.1 | 2.1 | 1.2 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
69%
2Y CAGR
56.6%
3Y CAGR
57.8%
Net Profit Ann.
1Y CHG
58.2%
2Y CAGR
75%
3Y CAGR
74.7%
Operating Exp. Ann.
1Y CHG
65.8%
2Y CAGR
52.9%
3Y CAGR
52.8%
DSM Fresh Foods INFORMATION ON IPO ISSUE
About DSM Fresh Foods
DSM Fresh Foods was incorporated on May 20, 2015. The company, established in 2015, is an online fresh meat and ready-to-cook/eat products retailer. It offers hygienically sourced mutton, poultry, seafood, and exotic meats through its website and mobile app, ensuring freshness, timely delivery, and a convenient customer experience
Object of the Issue
- To meet the capital expenditure requirements of the company
- To meet the marketing expenditure of the company
- To meet the working capital requirements of the company
- To meet the expenses of unidentified acquisition and general corporate purposes
DSM Fresh Foods - PROMOTERS
| Name |
|---|
| Deepanshu Manchanda |
| Priya Aggarwal |
DSM Fresh Foods - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Deepanshu Manchanda | Managing Director & Chairman |
| Mohammad Arif Khan | Director |
| Priya Aggarwal | Director |
| Suman Chaudhary | Independent Director |
| Achal Kapoor | Independent Director |
DSM Fresh Foods Book Running Lead Manager
Narnolia Financial Services Limited
rdebnath@narnolia.com
DSM Fresh Foods Registrar to the issue
Maashitla Securities Private Limited
ipo@maashitla.com
DSM Fresh Foods Strengths
Efficient business model
Farm-to-Fork is a model where food is sourced directly from farms and delivered to consumers, covering stages such as sourcing, processing, packaging, transportation, and retailing. It emphasises sustainability, traceability, and fresh, nutrient-rich foods for healthier eating
Strength
High quality farms
The company sources products exclusively from farms that utilise innovative technologies to ensure healthy animal growth. Animals are raised on a vegetarian diet with clean water and are never treated with antibiotics
Strength
Cold chain supply
The company ensures preservative-free freshness from farm to table by air-chilling meat immediately after slaughter, preventing bacterial growth. All products are free from preservatives, chemicals, and hormones
Strength
DSM Fresh Foods Risks
Counterfiet risks
The company faces risks from counterfeit, cloned, and pass-off products in the market, which may erode sales, damage brand reputation, and create legal liabilities if such imitations fail to meet safety or regulatory standards
Risk
Vulnerable to disease outbreaks
Avian influenza (“bird flu”) outbreaks among poultry can lead to culling, trade restrictions, and loss of consumer confidence, causing reduced demand, lower sales, and price declines. Recovery of the poultry industry and consumer trust may take significant time and resources
Risk
Rise of veganism
The rise of veganism is shifting consumer preferences toward plant-based diets, prompting food manufacturers and restaurants to offer meat alternatives. This trend expands market choices and reflects broader cultural and social changes in eating habits
Risk
IPO FAQs
The promoters of the company are Deepanshu Manchanda and Priya Aggarwal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 95.0 - 100.0.
The IPO application opens on Sep 26, 2025 and closes on Oct 06, 2025.
The minimum lot size for the IPO is 2400. The maximum lot size for the IPO is 2400.
For all category investors, the minimum application amount for this IPO is Rs. 230,400.0, the maximum value for this IPO is Rs 242,400.0.
This IPO will be allotted on Oct 07, 2025.
The refund will be credited to your account on Oct 08, 2025.
The allotted shares will be credited to your demat on Oct 08, 2025.
DSM Fresh Foods Ltd.’s shares listed on the stock exchanges on Oct 09, 2025.