Tasty Bite Eatables Limited

Packaged Foods

Annual Returns

Cumulative Returns and Drawdowns



Fundamentals














Ownership




Margined





AI Summary

asof: 2026-09-17

Headwinds and Challenges

  • Regulatory compliance lapse: The Company delayed prior intimation of a Board Meeting held on 06 August 2025 for approval of financial results, resulting in non-compliance with Regulation 29(1) of the SEBI (LODR) Regulations, 2015. NSE and BSE each levied a fine of INR 10,000. The delay was attributed to technical issues in XBRL filing validation.
  • Elevated employee turnover: Turnover rate for permanent employees rose to 17.47% in FY 2025-26 from 10.95% in FY 2024-25 and 7.76% in FY 2023-24, with male turnover at 16.87% in FY 2025-26.
  • Rising shareholder and customer grievances: Shareholder complaints increased to 34 in FY 2025-26 from 29 in FY 2024-25; customer complaints rose to 200 from 111; community complaints rose to 2 from nil.
  • Water and energy intensity: Water consumption and energy efficiency are identified as material issues, with the Company noting its manufacturing processes are water-intensive and that it seeks to reduce freshwater withdrawal.
  • Sustainable packaging pressure: Plastic packaging is identified as a material risk, with the Company noting the need to develop sustainable packaging solutions and manage post-consumer plastic waste through EPR arrangements.
  • Related-party concentration: Sales to related parties were 43.30% of total sales in FY 2025-26 (down from 51.10% in FY 2024-25), indicating continued dependence on group entities for a significant share of revenue.
  • No formal LCA yet: The Company has not formally conducted a Life Cycle Assessment for its products during the reporting period, though it is evaluating scope and methodology for a forthcoming period.

Tailwinds and Growth Prospects

  • Diversified product mix: Ready-to-eat contributed 64.10% of turnover and formed frozen products 35.90%, both under NIC code 107.
  • Export orientation: Exports accounted for 68.80% of total turnover; the Company serves 18 states in India and 22 countries internationally.
  • Broad customer base: The Company serves QSRs, cloud kitchens, and the HoReCa segment, positioning itself as a “brand behind the brands” with customized solutions and efficient turnaround times.
  • Sustainability initiatives: The Company commenced water recycling in FY 2025-26, recycling more than 108 million liters, with no deviations from set targets. It operates an in-house biogas plant processing a significant portion of food waste, has implemented variable frequency drives (VFDs) to optimize energy consumption, and uses solar power and biomass alongside MSEDCL supply.
  • Sustainable sourcing: 100% of fresh vegetables are sourced from local farmers and farmer groups, supported by a Supplier Code of Conduct.
  • Certifications and accreditations: ISO 14001, ISO 45001, FSSC 22000 (Lloyd’s Register Quality Assurance), DSIR accreditation for the R&D department valid till March 2028, and valid FSSAI food manufacturing licenses.
  • EPR compliance: The Company holds valid CPCB registration and has partnered with an authorized agency for collection and recycling of plastic waste across India.
  • Community engagement: CSR initiatives focus on farmer development, skill enhancement for women, natural resource management, and rural school development; a significant portion of the workforce is recruited locally.
  • Governance framework: All nine NGRBC principles are covered by Board-approved policies, with senior management regularly reviewing performance and independent audits by external parties.

Key Risks

  • Regulatory and compliance risk: Demonstrated by the SEBI (LODR) Regulation 29(1) penalty of INR 10,000 each from NSE and BSE for delayed Board Meeting intimation.
  • Water availability and consumption risk: Identified as a material risk given the water-intensive nature of operations; mitigated through the 4R framework (Reduce, Reuse, Recycle, Recover), advanced ETPs, and zero liquid discharge technologies.
  • Energy efficiency risk: Identified as a material risk; mitigated through solar power, biomass, VFDs, and variable speed drives.
  • Sustainable packaging risk: Identified as a material risk; mitigated through developing sustainable packaging, reducing laminate thickness, minimizing paper usage, and EPR arrangements with authorized recyclers.
  • Community support risk: Identified as a material opportunity; the Company maintains proximity to local communities and engages through continuous collaboration, local employment, and CSR initiatives.
  • Related-party transaction risk: Material RPTs with Preferred Brands International, Inc., Mars Food UK Limited, and Mars Food US LLC for FY 2027-28 were approved at the AGM, with sales to related parties at 43.30% of total sales in FY 2025-26.
  • Human capital risk: Permanent employee turnover increased to 17.47% in FY 2025-26; no differently abled employees or workers are currently employed, though the Company states it is enhancing accessibility features.
  • Grievance volume risk: Customer complaints increased to 200 in FY 2025-26 from 111 in FY 2024-25; shareholder complaints rose to 34 from 29.

Management Guidance Versus Observed Business Performance

  • Water recycling target: The Company committed to increasing use of recycled water to reduce freshwater withdrawal. In FY 2025-26, it commenced water recycling efforts and achieved recycling of more than 108 million liters, with no deviations from set targets.
  • Dividend declaration: The Board recommended a dividend of INR 10 per equity share on 2,566,000 equity shares of INR 10 each for FY 2025-26. The resolution was passed at the AGM on 13 August 2026 with 100% assent.
  • Related-party transactions: Material RPTs with Preferred Brands International, Inc., Mars Food UK Limited, and Mars Food US LLC for FY 2027-28 were approved at the AGM. Item No. 6 received 99.99% assent (2 votes dissent), Item No. 7 received 99.99% assent (2 votes dissent), and Item No. 8 received 99.99% assent (2 votes dissent).
  • Board re-appointment: Mr. Matthew James Page (DIN: 10788632) was re-appointed as a director liable to retire by rotation, passed with 100% assent.
  • Director reclassification: Mr. Shashank Shekhar (DIN: 10942818) was reclassified as a director liable to retire by rotation, passed with 100% assent.
  • Articles of association amendment: The special resolution to amend the articles of association was passed with 100% assent.
  • Financial statements adoption: The audited financial statements for the year ended 31 March 2026 were adopted with 95.67% assent and 4.33% dissent.
  • AGM participation: The 42nd AGM was held on 13 August 2026 at 11:13 A.M. via video conferencing. The cut-off date was 06 August 2026, with 17,964 shareholders on record. Remote e-voting ran from 10 August 2026 to 12 August 2026. One promoter/promoter group shareholder and 38 public shareholders attended via video conferencing; no shareholders attended in person or by proxy. All 8 resolutions were passed with requisite majority.
  • Employee training: 100% of employees and workers were covered by health and safety training and skill upgradation training in FY 2025-26.
  • Performance reviews: 100% of employees and workers received performance and career development reviews in FY 2025-26, up from 92.90% for employees in FY 2024-25.
  • Wellbeing spending: Cost incurred on wellbeing measures as a percentage of total revenue was 0.15% in FY 2025-26, down from 0.17% in FY 2024-25.
  • Accounts payables: Number of days of accounts payables increased to 72 in FY 2025-26 from 54 in FY 2024-25.
  • Board diversity: The Board comprises 7 directors, with 1 female director (14.29%). Key Management Personnel comprise 2 individuals, with no female representation.
  • Workforce composition: Permanent employees totaled 166 (139 male, 27 female); permanent workers totaled 115 (104 male, 11 female); other than permanent workers totaled 1,073 (460 male, 613 female). No differently abled employees or workers were employed.
  • Union membership: 94.76% of permanent workers were part of associations or unions in FY 2025-26, down from 95.50% in FY 2024-25. No permanent employees were part of associations or unions.
  • Retirement benefits: 100% of employees and workers were covered by PF and gratuity in both FY 2025-26 and FY 2024-25. ESI coverage was 0.00% for both employees and workers in FY 2025-26, down from 4.00% for workers in FY 2024-25.
  • Parental leave: Return to work and retention rates for permanent employees and workers who took parental leave were 100% across both male and female categories.
  • CSR applicability: CSR is applicable under Section 135 of the Companies Act, 2013. Turnover was INR 5,716.22 million and net worth was INR 3,420.08 million.
  • Paid-up capital: INR 25.66 million.
  • Holding structure: Preferred Brands Foods (India) Private Limited holds 74.22% and Effem Holding Limited holds 0.01%. Neither participates in the Company’s Business Responsibility initiatives.
  • BRSR reporting boundary: Disclosures are made on a standalone basis. No assessment or assurance provider was engaged.
  • Business activity: Manufacturing (Food, Beverage) accounts for 100% of turnover. The Company operates 1 plant and 1 office nationally, with no international plants or offices.
   

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