ADF Foods Infuses ₹10 Crore into Telluric Foods Subsidiaries for Brand & Working Capital Support

ADF Foods Limited has approved an investment of ₹10 crore in its wholly-owned subsidiary, Telluric Foods (India) Limited (TFIL), via Optionally Convertible Redeemable Preference Shares (OCRPS). The funds will be downstreamed to the step-down subsidiary, Telluric Foods Limited (TFL), to support brand building and working capital requirements for FY26-27. Key Details: Structure: ADF → TFIL (100% holding) → TFL (100% holding); cash consideration, arm's-length related party transaction. Purpose: Scale TFL's food products business across e-commerce and general trade channels in India. Regulatory: No external approvals required; disclosed under SEBI LODR Regulation 30. Strategic Context: TFL's Growth Trajectory: Turnover grew from ₹2.82 Cr (FY24) to ₹5.67 Cr (FY25), moderating to ₹4.01 Cr (FY26) — indicating early-stage scaling with volatility typical of D2C/food startups. Portfolio Synergy: TFL complements ADF's core export-focused brands (Catch, Kangra) by building a domestic, digitally-native food platform. Capital Efficiency: OCRPS structure provides flexibility — convertible to equity upon milestone achievement or redeemable if strategic priorities shift. Outlook: This capital infusion signals ADF Foods' commitment to building a scalable domestic food business alongside its established export operations. Success will hinge on effective brand differentiation, distribution expansion, and unit economics in India's competitive packaged foods market.