Vidhi Specialty Food Ingredients Ltd (VIDHIING)

Chemicals · Chemicals · NSE · Updated 1 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹353.95 ↓ 6.2% (1Y)

🎯 Key Takeaways

Vidhi Specialty Food Ingredients Ltd is a mature, low-debt specialty chemicals company operating in the food ingredients space with stable margins and consistent profitability. It maintains a strong balance sheet with minimal leverage (D/E 0.
Revenue grew 19.2% QoQ to ₹146 in Q1FY27.
⚠️ Operational delays in regulatory filings (e.g., Q1 results submission) raise concerns about internal controls and compliance readiness.

Market Cap

₹1,768

P/E Ratio

33.2

P/B Ratio

5.87

ROE

17.7%

ROCE

20.8%

Debt/Equity

0.21

Div Yield

0.85%

Promoter

64.3%

✨ Ask AI About VIDHIING 📊 Interactive Charts

📖 The Story

Vidhi Specialty Food Ingredients Ltd is a mature, low-debt specialty chemicals company operating in the food ingredients space with stable margins and consistent profitability. It maintains a strong balance sheet with minimal leverage (D/E 0.21) and high ROCE (20.8%), though its P/E of 33.2 suggests market expectations are priced in. The company is in a consolidation and governance phase, marked by board enhancements and procedural refinements rather than aggressive growth initiatives.

📰 What's Happening

Management has focused on governance and compliance over the past few quarters, including the appointment of Chetan Prabhudas Bavishi as an independent director effective August 11, 2026 (subject to shareholder approval at the September 24, 2026 AGM). The company also conducted its 33rd AGM virtually, emphasizing procedural compliance under SEBI LODR. Additionally, it faced technical delays in filing Q1 results (June 30, 2026) due to XBRL tagging errors and portal crashes, which were later corrected with an unmodified audit opinion confirming no going concern concerns. These events reflect operational caution rather than strategic transformation.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue	75	94	123	146
Operating Profit	15	17	19	24
OPM %	20.4%	17.7%	15.1%	16.3%
Net Profit	11	12	13	17
EPS	₹2.11	₹2.49	₹2.63	₹3.43

Revenue has grown sequentially over the past four quarters, rising from ₹75 crore in September 2025 to ₹146 crore in June 2026, indicating expanding operations. Operating margins have remained stable around 15-17%, with a slight uptick in recent quarters, supporting profitability. Net profit and EPS have risen in line with revenue growth, though OPM dipped slightly in June 2026 to 16.3% from 20.4% in September 2025, possibly reflecting scale-related inefficiencies or input cost pressures. The financial trend shows consistent top-line expansion and healthy bottom-line generation without significant margin erosion.

🔮 Management Outlook & What's Next

Management has not provided explicit forward guidance on growth or margins in the available filings. The most recent disclosures focus on procedural updates, AGM scheduling, and compliance rather than strategic outlook. There is no public commentary on future revenue targets, margin expectations, or capital allocation strategy beyond routine governance items. The tone remains neutral and administrative, with no indication of new product launches, capacity expansion, or market expansion plans.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	5	5	5	5
Reserves	284	296	304	323
Borrowings	30	64	60	58
Total Liabilities	356	396	413	419
Fixed Assets	126	134	136	134
Investments	0	0	0	0
Total Assets	356	396	413	419

The balance sheet shows stable equity and reserves, with minor fluctuations in reserves (₹296 crore to ₹323 crore) and consistent borrowings around ₹58-64 crore. Total assets have grown modestly from ₹396 crore to ₹419 crore, indicating asset base expansion in line with revenue growth. Borrowings remain low and stable, suggesting no aggressive financing for expansion. The company is not deleveraging but also not investing heavily, consistent with a mature, cash-generative business focused on operational stability.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	-5
Investing	-7
Financing	+19
Net Cash Flow	+8

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	64.3%	64.3%	64.3%	64.3%
FII	0.1%	0.1%	0.1%	0.1%
DII	0.0%	0.0%	0.0%	0.0%
Public	26.9%	27.0%	27.3%	27.4%
# Shareholders	15,526	15,154	14,693	14,557

Promoter holding remains stable at 64.27% over the last four quarters, indicating confidence and lack of stake sales. FII ownership is minimal (0.07% to 0.12%) and DII has been flat at 0%, suggesting limited institutional interest. The growing number of public shareholders (14,557 to 15,526) reflects retail broadening but no significant foreign investor accumulation. There are no signals of activist involvement or governance concerns from shareholders.

⚖️ Peer Comparison — Chemicals

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
PIDILITIND	1.67 L Cr	63.2	33.4%	24.7%	0.01
SRF	75,831	35.1	15.6%	15.4%	0.36
LINDEINDIA	54,443	99.7	17.5%	12.8%	0.00
FLUOROCHEM	51,528	84.2	9.6%	7.7%	0.34
NAVINFLUOR	44,502	56.3	22.2%	19.9%	0.31
GODREJIND	38,256	32.5	9.2%	19.8%	4.57
HSCL	33,181	41.2	20.7%	17.1%	0.16
DEEPAKNTR	23,850	30.4	15.3%	13.4%	0.26
AETHER	22,459	95.2	13.8%	10.6%	0.08
AARTIIND	19,021	35.8	9.2%	9.5%	0.68

🔗 Peer Stock Analyses

PIDILITIND SRF LINDEINDIA FLUOROCHEM NAVINFLUOR

⚠️ Risk Factors

1. Operational delays in regulatory filings (e.g., Q1 results submission) raise concerns about internal controls and compliance readiness. 2. Low institutional interest may limit liquidity and analyst coverage. 3. High promoter concentration (64.27%) creates governance risk if not managed transparently. 4. Margins, while stable, have shown slight compression recently, which could pressure profitability if input costs rise or competition intensifies.

📋 Recent Filings

🧠 Analyst's Read

Vidhi Specialty Food Ingredients operates as a stable, low-leverage specialty chemical company with consistent financial performance and improving scale, but its growth appears mature and incremental. The recent focus on governance and compliance suggests a phase of consolidation rather than expansion. Investors should monitor future investor interactions and any strategic shifts beyond board-level appointments, as current developments do not indicate near-term catalysts for earnings acceleration.

Based on filing content and financial data. Not a recommendation.

Read the full analysis

Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.

2 free AI queries per day.

✨ Deep Dive with AI on VIDHIING

Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

📡 Get AI alerts when VIDHIING files new disclosures

Track VIDHIING filings, board meetings, and corporate actions. Free email alerts at 5 PM.

Track VIDHIING — Free

Free account · 2 AI queries/day

About · Privacy Policy · Terms of Service · Pricing

Today's Announcements · Screener · Insights · AI Chat

Data provided by CMOTS Internet Technologies Pvt Ltd