The company stated that the revenue growth was driven by traction from new listings and strengthening brand penetration across all key markets.

EBITDA improved by 40.6% YoY to Rs 37.1 crore while EBITDA margin expanded by 150 basis points to 19.4% in Q3 FY26.

Bimal Thakkar, chairman & managing director, said: “Despite prevailing tariff challenges, our U.S. business continues to show substantial progress, benefiting from the enhancement of our sales force and strategic distributor level changes implemented at the beginning of CY2025.

Our flagship brand Ashoka continues to strengthen its market presence, and our mainstream brand Truly Indian has exceeded expectations with a marked acceleration in its growth trajectory.

We have successfully completed pilot runs at our upcoming Surat Greenfield facility, and Phase 1 is on track to become fully operational by Q4 FY26.”

ADF is a consumer-focused Company and a leading manufacturer of prepared ethnic foods, offering frozen foods, ready-to-eat (RTE) items, ready-to-cook (RTC) items, sauces, pickles, pastes and dips under its 5 prominent brands.