Prime Fresh Q2 revenue rises 21.1% to Rs 80.39 crore; firm enters frozen food processing

Prime Fresh Ltd, which works in the fruit and vegetable supply chain, performed well in the second quarter of the financial year 2027. Its operating revenue rose 21.1 per cent year-on-year to Rs 80.39 crore. Profit after tax grew 54.7 per cent.

The company was formed in 2007 and is listed on the BSE. It offers a range of services, from procuring fruit and vegetables to grading, packaging, storage, logistics and distribution. The company is focused on strengthening the supply chain from farmer to market.

The second-quarter figures are as follows. EBITDA was Rs 6.99 crore, up 71.2 per cent year-on-year. Profit after tax (PAT) was Rs 4.83 crore, a year-on-year rise of 54.7 per cent. EBITDA margin was 8.70 per cent, an improvement of 255 basis points year-on-year. PAT margin was 6.00 per cent, up 130 basis points year-on-year.

Revenue rose 30.3 per cent over the previous quarter. Profit margins, however, dipped slightly compared with the first quarter.

The company maintained its momentum in the first half of the financial year 2027. Consolidated operating revenue for the period rose 18.7 per cent year-on-year to Rs 142.09 crore. EBITDA rose 62.3 per cent to Rs 13.14 crore and profit after tax rose 52.8 per cent to Rs 9.18 crore. For the half-year, EBITDA margin was 9.25 per cent and PAT margin 6.46 per cent.

Fruit and vegetable sales in the first half were 30,780 metric tonnes, a rise of 14.2 per cent in volume over last year. This is why the half-year performance was good despite lower sales in the second quarter.

In the second quarter, fruit and vegetable sales were 12,798 metric tonnes. This was 28.8 per cent lower than the previous quarter and 21.2 per cent lower than the same quarter last year. The average selling price per metric tonne, however, increased.

Onion remained the mainstay of the company's business. The contribution of pomegranate grew, and sales of Nagpur oranges and mosambi also improved. Good prices and a change in the product mix helped revenue and profit.

The company has taken several steps to expand its business. The grant agreement under the Nashik Cluster Development Programme has been executed, which will help increase direct-from-farm procurement, cold chain and packaging capacity. The company has been selected at the expression of interest (EOI) stage for the National Horticulture Board's proposed Pune Cluster Development Programme. A modern distribution centre has been started at Gopiganj in Uttar Pradesh. A partnership has been formed with a local farmer producer organisation in Amravati. The company has also entered frozen food processing by taking a 51 per cent stake in Pune Agro Cart LLP.

According to company director Hiren Gelani, cost control, favourable onion prices, higher stock and an improved product mix helped the financial performance. In the coming period, the company will focus on further strengthening the supply chain, expanding distribution, increasing direct contact with farmers and diversifying into value-added products.