Cremica Food Industries Limited
Cremica Food Industries Limited
INE404T01016
Incorporation Date: 24-Jun-2013
Listing Status: DRHP Not Filed
About Cremica Food Industries Limited
Overview of Cremica Food Industries Limited
Cremica Food Industries Limited
Cremica Food Industries Limited is an Indian food-processing company and part of the Cremica Group, with roots going back to 1978 when Mrs. Rajni Bector began the business as a small home-based food enterprise. The company has developed into a diversified food manufacturer focused on condiments, sauces, mayonnaise, spreads, dressings, syrups, fruit fillings, Indian gravies and snack products for both retail and food-service customers. Its operations combine branded products with customised food solutions for institutional and food-service clients.
🏢 Introduction & Infrastructure
Established: Cremica Group originated in 1978, while Cremica Food Industries Limited was incorporated in 2013.
Corporate Office: New Delhi, with registered office and works at Phillaur, Punjab.
Core Business: Manufacturing and marketing of processed food products, particularly condiments and food-service products.
Manufacturing Footprint: Manufacturing capabilities across locations including Phillaur, Rajpura, Tahliwal, Greater Noida, Khopoli and Bengaluru.
Production Infrastructure: Modern food-processing and packaging facilities designed for large-scale production and consistent quality.
Quality Systems: Manufacturing operations follow established food-safety and quality-management standards.
Export Infrastructure: Products are supplied to international markets across Europe, Africa, the Middle East, the US and Australia.
⚙️ Business Model & Operational Verticals
Cremica operates a multi-channel food manufacturing model, supplying products through both branded retail distribution and institutional/food-service channels.
1. Condiments & Sauces — Core Vertical
Tomato ketchup
Specialty sauces
Hot sauces
Indian chutneys
Sandwich spreads
Salad dressings
Syrups and toppings
2. Mayonnaise & Dressings
Vegetarian mayonnaise
Sandwich mayonnaise
Flavoured mayonnaise
Salad dressings
Dips and snack dressings
The company has developed a broad range of flavours designed around Indian consumer preferences.
3. Food-Service Solutions
Bulk condiments
Ketchup and mayonnaise
Sauces and spreads
Customised products for QSRs, hotels and restaurants
Portion packs and institutional packaging
Cremica has historically supplied major food-service customers, including McDonald's in India.
4. Snacks & Processed Foods
Opera potato crisps
Indian snack dips
Fruit fillings
Bakery-related ingredients and toppings
Gravies and ready-to-use food preparations
👥 Management Structure
Cremica Food Industries is led by the Bector family, with professional management supporting the company's manufacturing, food-service and branded-food operations.
Akshay Bector — Chairman & Managing Director
Supported by professionals across manufacturing, quality, food technology, sales, distribution, finance and business development.
The management brings extensive experience in the food-processing industry and has been involved in developing Cremica's retail, institutional and food-service businesses.
📦 Key Product & Brand Portfolio
| Product / Brand | Key Offering |
|---|---|
| Cremica Tomato Ketchup | Retail and food-service ketchup |
| Cremica Mayonnaise | Vegetarian and flavoured mayonnaise |
| Sandwich Spreads | Spreads for retail and institutional use |
| Speciality & Hot Sauces | Indian and international-style sauces |
| Salad Dressings | Dressings and food-service applications |
| Indian Chutneys & Dips | Ready-to-use Indian flavours |
| Syrups & Toppings | Dessert and beverage applications |
| Desi Express | Indian gravies and curry products |
| Opera Crisps | Premium potato crisps |
| Fruit Fillings | Bakery and confectionery applications |
🏭 Manufacturing & Food-Processing Capabilities
Large-scale manufacturing of condiments and processed food products.
Dedicated production and packaging infrastructure for retail and food-service requirements.
Capability to manufacture customised products and flavours based on customer requirements.
High-volume ketchup and portion-pack manufacturing capabilities.
Food-processing systems supported by quality-control and food-safety processes.
Manufacturing practices include Kaizen, 5S, Six Sigma, Andon, Poka-Yoke and Value Stream Mapping.
🌐 Customer & Distribution Ecosystem
Cremica operates across multiple customer channels:
Retail consumers
Quick-service restaurants
Hotels and restaurants
Institutional food-service customers
Food manufacturers
International distributors
Private-label customers
The company also manufactures products for reputed brands under private-label arrangements, in addition to selling products under the Cremica and Opera brands.
🌍 Export & International Presence
Cremica has developed an international customer base, with products reaching markets across Europe, Africa, the Middle East, the US, Australia and other international markets. Its export and private-label capabilities allow the company to serve both branded and institutional customers outside India.
⭐ Key Business Highlights
More than four decades of operating heritage originating from the Bector family's food business.
Diversified portfolio spanning ketchup, sauces, mayonnaise, spreads, dressings, dips, syrups, toppings and processed foods.
Strong presence in the food-service and institutional segment alongside retail.
Established relationships with major food-service customers, including McDonald's India.
Manufacturing and packaging capabilities across multiple strategically located facilities.
Products customised for Indian tastes and international customer requirements.
International presence alongside private-label manufacturing capabilities.
Focus on quality, product innovation and customised food solutions as key elements of its business model.
Insights of Cremica Food Industries Limited
Cremica Food Industries Limited
1. Financial Highlights – FY25 vs FY26
All monetary values are in ₹ Crore.
| Metric | FY25 | FY26 | YoY Growth | Margin FY25 | Margin FY26 |
|---|---|---|---|---|---|
| Net Revenue | 345.00 | 331.00 | -4.06% | — | — |
| EBITDA | 30.00 | 41.60 | +38.67% | 8.70% | 12.57% |
| PBT | 12.30 | 25.80 | +109.76% | 3.57% | 7.79% |
| PAT | 8.20 | 18.90 | +130.49% | 2.38% | 5.71% |
Key Insights:
Revenue declined 4.1% to ₹331 Cr, but EBITDA increased 38.7% to ₹41.6 Cr, indicating a significant improvement in operating efficiency.
EBITDA margin improved from 8.70% to 12.57%, while PBT more than doubled to ₹25.8 Cr.
PAT increased 130.5% to ₹18.9 Cr, showing a substantial improvement in bottom-line profitability despite lower revenue.
2. Key Company Developments
Product diversification: Cremica is expanding beyond its traditional sauces, spreads and condiments portfolio into beverages, jams, pickles and other value-added food categories.
Beverage expansion: The company has entered the beverage segment with multiple fruit-crush variants, initially targeting the HoReCa segment while also developing retail opportunities.
Manufacturing capacity expansion: The company has been adding production capacity at its Himachal Pradesh food park, supporting beverages as well as additional liquid sauces, jams and pickles.
HoReCa expansion: Cremica continues to strengthen its presence in the hotel, restaurant and catering segment, providing an additional growth channel beyond retail.
Export opportunity: The company is also looking to expand its newer product categories into international markets, which could diversify its revenue base.
3. Industry Insights & Trends
Packaged food consumption is expanding: Rising urbanisation, convenience-led consumption and changing food habits continue to support demand for packaged sauces, condiments and ready-to-use food products.
Premiumisation is increasing: Consumers are increasingly seeking differentiated flavours, premium ingredients, healthier alternatives and products with cleaner-label positioning.
HoReCa remains an important growth channel: Expansion of restaurants, QSRs, cafés and cloud kitchens is supporting demand for sauces, mayonnaise, dressings and other foodservice products.
Quick commerce is changing food distribution: Faster delivery platforms are giving smaller and emerging food brands greater access to consumers and improving product discovery.
Diversification is becoming important: Food companies are increasingly expanding across adjacent categories such as beverages, spreads, dressings and ready-to-eat products to increase wallet share and reduce dependence on individual categories.
4. Peer Comparison
A peer comparison is relevant for Cremica because it operates in the branded food, sauces and condiments ecosystem. Direct comparison is limited because several of its closest operational competitors are private companies.
| Metric – Latest Available | Cremica Food Industries | Mrs. Bectors Food Specialities | Britannia Industries |
|---|---|---|---|
| Revenue / Operating Revenue (₹ Cr) | 331.00 | ~2,044 | ~19,152 |
| EBITDA (₹ Cr) | 41.60 | ~258 | ~3,544 |
| PAT (₹ Cr) | 18.90 | ~141 | ~2,537 |
| EBITDA Margin | 12.57% | ~12.6% | ~18.5% |
| PAT Margin | 5.71% | ~6.9% | ~13.3% |
| Business Focus | Sauces, condiments, spreads, beverages & food products | Biscuits, bakery & related foods | Biscuits, bakery & packaged foods |
| Listed / Unlisted | Unlisted | Listed | Listed |
Peer Observation: Cremica remains significantly smaller in revenue scale than the listed peers, but its FY26 EBITDA margin of 12.57% is broadly comparable with Mrs. Bectors. Its specific operational peers also include private sauce and condiment brands, where reliable comparable financial data is not publicly available.
Key Takeaways
Cremica delivered a strong profitability improvement in FY26, with EBITDA increasing 38.7% and PAT increasing 130.5% despite a 4.1% decline in revenue.
The company is pursuing product diversification, particularly through beverages and other value-added food categories.
HoReCa, retail expansion, quick commerce and exports provide multiple potential growth channels.
Key areas to monitor are revenue recovery, manufacturing-capacity utilisation, raw-material costs, margin sustainability and the successful scaling of new product categories.
Financial Charts of Cremica Food Industries Limited
Balance Sheet of Cremica Food Industries Limited
Profit and Loss of Cremica Food Industries Limited
Ancillary of Cremica Food Industries Limited
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Cremica Food Industries Limited
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How to buy Cremica Food Industries Limited?
Below are three ways through which you can purchase Cremica Food Industries Limited:
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How to sell Cremica Food Industries Limited?
Below are three ways through which you can sell Cremica Food Industries Limited:
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Cremica Food Industries Limited, please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Cremica Food Industries Limited?
We provide a two way quote on all the shares we deal in. Your buy price for Cremica Food Industries Limited is ₹195 and your sell price for Cremica Food Industries Limited is ₹120. The price is based on our estimates and market conditions.
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What is the lock-in period of Cremica Food Industries Limited?
The lock-in period for Cremica Food Industries Limited varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Cremica Food Industries Limited
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Cremica Food Industries Limited
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Cremica Food Industries Limited price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Cremica Food Industries Limited. The price is also determined from the most recent funding round for Cremica Food Industries Limited. This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Cremica Food Industries Limited?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Cremica Food Industries Limited with us kindly click here.
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What are the financials of Cremica Food Industries Limited?
The financials of Cremica Food Industries Limited which includes the P/L of Cremica Food Industries Limited and the Balance Sheet of Cremica Food Industries Limited is in the financials section (Click on link).
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Where can I find the annual report of Cremica Food Industries Limited?
The annual report of Cremica Food Industries Limited is available in the annual report section (Click on link).
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Is buying Cremica Food Industries Limited legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Cremica Food Industries Limited?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Cremica Food Industries Limited and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Cremica Food Industries Limited once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
How does Altius Investech source Cremica Food Industries Limited?
At Altius Investech, our approach to sourcing Cremica Food Industries Limited unlisted shares involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Cremica Food Industries Limited unlisted shares. This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
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