Q&T FoodsIPO Review — Financials, Valuation & Peers
A data-only look at the Q&T Foods IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 40.22 | 1.96 | 3.77 | 2.44 | 14.34 | 9.84 | — |
| FY 2025 | 46.83 | 2.74 | 4.82 | 7.04 | 19.68 | 10.11 | — |
| FY 2026 | 54.78 | 5.2 | 8.37 | 12.24 | 26.57 | 11.05 | 10.84 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 10.61x
- P/E (post-issue)
- 15.65x
- RoNW
- 42.49%
- RoE
- 53.95%
- RoCE
- 70.88%
- EPS (pre-issue)
- ₹10.84
- EPS (post-issue)
- ₹7.35
- EBITDA Margin
- 15.27%
- PAT Margin
- 9.49%
- P/BV
- 4.51x
- NAV / share
- ₹25.52
- Market Cap
- ₹81.4 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Q&T Foods | 10.83 | 25.51 | 10.62x | 42.49% | 4.6x | Restated |
| Mrs.Bectors Foods Specialties Ltd. | 3.87 | 38.29 | 54.37x | 10.11% | 5.53x | Standalone |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>
- Holding (pre-issue)
- 91.28%
- Holding (post-issue)
- 61.86%
- Dilution
- 29.42%
Analysis in brief
Margin and return profile
The offer document gives a read on the operating engine behind the issue. Q&T Foods operates at an EBITDA margin of 15.27% and a net (PAT) margin of 9.49% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 70.88% and a return on equity (RoE) of 53.95%. At the upper band, the post-issue market capitalisation works out to about ₹81.4 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward to part finance the requirement of working capital (₹7.5 crore), alongside repayment/pre-payment, in full or in part, of certain borrowings availed by the company (₹6.75 crore). In all, 4 objects are disclosed.
Financials
In FY2026, Q&T Foods reported revenue of ₹54.78 crore and a net profit of ₹5.2 crore. Revenue grew from ₹40.22 crore in FY2024 to ₹54.78 crore in FY2026 (+36.0%). Net worth stood at ₹12.24 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 15.65× post-issue earnings and 4.51× book value, against a return on net worth of 42.49%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>. Promoter holding stands at 91.28% before the issue and comes down to 61.86% after listing.
Frequently asked questions
- What is the reservation split in the Q&T Foods IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%.
- Who are the promoters of Q&T Foods and what is their holding?
- The promoters are <p>Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, Rakesh Gupta</p>. Promoter holding is 91.28% before the issue and 61.86% after listing.
- What is the P/E ratio of the Q&T Foods IPO?
- At the upper price band, the Q&T Foods IPO is valued at 10.61× pre-issue earnings and 15.65× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Q&T Foods IPO?
- The net proceeds go primarily toward to part finance the requirement of working capital, among 4 disclosed objects.