The global economy remained resilient during 2025 despite elevated trade policy uncertainty and geopolitical tensions. However, the recent conflict in the Middle East has introduced additional risks to global growth, inflation, and financial stability. Higher energy prices, supply chain disruptions, and increased uncertainty are expected to weigh on economic activity across regions. At the same time, technological innovation, continued investment, and resilient labour markets continue to support growth prospects, while geopolitical developments and commodity price volatility remain key downside risks to the global outlook. Inflation is expected to remain elevated in the near term, primarily due to energy- related pressures, while financial markets continue to closely monitor developments in global trade and geopolitical conditions. Policymakers across major economies are expected to focus on preserving macroeconomic stability while supporting sustainable long- term economic growth.
Global GDP Growth [Chart showing 2.7% (2025), 3.1% (2026), 3.2% (2027E)]
Global Inflation [Chart showing 4.1% (2025), 4.4% (2026), 3.7% (2027E)]
? Geopolitical uncertainty and energy market volatility
? Continued investment in technology and digital transformation
? Resilient labour markets across major economies
? Ongoing global supply chain realignment
? Moderating but persistent inflationary pressures
Source - World Bank, IMF
India remained the fastest- growing major economy in FY26, supported by resilient domestic demand, sound macroeconomic fundamentals, and continued policy support. Despite global trade disruptions and geopolitical uncertainties, the economy expanded by 7.6% in FY26, up from 7.1% in FY25. Growth was underpinned by strong performance across the manufacturing and services sectors, aided by accommodative monetary conditions, easing inflationary pressures, and sustained public investment. Robust domestic consumption, ongoing infrastructure development, and increasing formal employment continue to strengthen Indias long- term growth outlook.
The World Bank projects Indias economy to grow by 6.6% in FY27, reflecting the impact of temporary external headwinds arising from global geopolitical developments and elevated energy prices. Over the medium term, favourable demographics, rapid urbanisation, rising income levels, and continued structural reforms are expected to reinforce Indias position as one of the worlds fastest- growing major economies.
GDP Growth [Chart showing 7.7% (2025), 7.6% (2026), 6.6% (2027E)]
Current Account Deficit (% of GDP) [Chart showing 1.2% (2025), 1.0% (2026), 1.0% (2027E)]
General Government Fiscal Deficit (% of GDP) [Chart showing 7.7% (2025), 7.6% (2026), 7.4% (2027E)]
The global agriculture and food processing industry is undergoing a significant transformation, driven by rapid technological advancements, increasing automation, and the growing emphasis on sustainability. Agriculture 4.0 is reshaping farming practices through the adoption of Artificial Intelligence (AI), the Internet of Things (IoT), robotics, drones, precision farming, and data analytics, enabling higher productivity, efficient resource utilisation, and improved crop quality. At the same time, rising investments in smart farming and sustainable agricultural practices are strengthening global food supply chains and creating new opportunities for value- added food processing and agricultural exports.
The global food processing and handling equipment industry continues to witness steady growth, supported by rising demand for processed and convenience foods, increasing automation, and stringent food safety standards. Manufacturers are increasingly deploying IoT- enabled equipment, smart sensors, and automated processing systems to enhance productivity, improve traceability, minimise wastage, and ensure regulatory compliance. Continued investments in advanced processing technologies are expected to improve operational efficiency and support long- term growth across the global food value chain. Asia Pacific remained the largest regional market, accounting for 30.9% of the global food processing and handling equipment market in 2025.
Indias agriculture and food processing sector continues to demonstrate strong growth, supported by record agricultural output, rising value addition, favourable government policies, and increasing adoption of advanced food processing technologies. In FY25, India achieved a record food grain production of 357.73 MMT, while horticulture output reached 362.08 MMT, reflecting the countrys growing focus on high- value crops such as fruits and vegetables. Agricultural exports increased from USD 34.5 billion in FY20 to USD 51.1 billion in FY25, driven by stronger global demand, expanding processed food exports, and investments in post- harvest infrastructure, cold- chain logistics, and digital agricultural markets. Government initiatives such as PM- KISAN, PMKSY, MIDH, and the PLI Scheme for Food Processing continue to enhance farm productivity, improve market access, and encourage value- added manufacturing.
At the same time, the food processing and handling equipment industry continues to expand, driven by rising demand for processed and convenience foods, increasing automation, and stringent food safety standards. Manufacturers are adopting IoT- enabled equipment, smart sensors, and automated processing systems to improve productivity, traceability, operational efficiency, and regulatory compliance while minimising wastage. These structural developments are strengthening Indias agricultural ecosystem and creating a favourable operating environment for food processing companies, particularly those engaged in fruit and vegetable- based products, pickles, olives, and other value- added packaged foods.
GLOBAL AGRICULTURE INDUSTRY [Chart showing 10.6% CAGR, Market Size 76.0 (2025) to 125.8 (2030E)]
GLOBAL FOOD PROCESSING EQUIPMENT MARKET [Chart showing 4.1% CAGR, Market Size 56.8 (2025) to 69.6 (2030E)]
INDIAN AGRICULTURE INDUSTRY [Chart showing 4.2% CAGR, Market Size 452 (2025) to 555.6 (2030E)]
INDIAN AGRICULTURE AND FOOD PROCESSING INDUSTRY [Chart showing 6.8% CAGR, Market Size 382.2 (2025) to 530.3 (2030E)]
Source - Grand View Research, Fortune business insights Source - Press Information Bureau (PIB), Government of India, Mordor Intelligence, ibef
Freshara Agro Exports Limited has established itself as one of Indias leading exporters of preserved vegetables, specializing in the procurement, processing, packaging, and export of value- added food products. Since its inception in 2015, the Company has built an integrated farm- to- fork business model supported by contract farming, modern processing infrastructure, stringent quality standards, and an efficient global supply chain. Its diversified product portfolio includes gherkins, baby corn, jalapeños, chillies, banderillas, and other preserved food products catering to retail, private- label, food service, and industrial customers across more than 40 countries.
The Company operates two state- of- the- art processing facilities in Tamil Nadu, supported by internationally recognized certifications including IFS, BRCGS, FSSAI, Star- K Kosher, Halal and APEDA. Its operations are backed by a well- established network of over 4,000 contract farmers across Southern India, enabling reliable raw material sourcing, traceability, and consistent product quality. This integrated operating model has helped Freshara build long- standing customer relationships while maintaining high standards of operational efficiency and export execution across global markets.
Building on its established leadership in preserved vegetables, Freshara has continued to strengthen its international presence through product diversification and expansion into higher- value specialty food categories. The strategic addition of a European platform during FY26 marks an important milestone in the Companys evolution, broadening its global footprint, enhancing market access, and positioning Freshara as a diversified international food company with a scalable platform for long- term growth.
FY26 was a landmark year for Freshara Agro Exports Limited, marked by strong financial performance and significant strategic progress. The Company reported consolidated total income of approximately 353 crore, with EBITDA of 58.11 crore and Profit After Tax of 37.5 crore, reflecting healthy growth in both scale and profitability. During H2 FY26 alone, revenue reached 212 crore, supported by sustained demand across key export markets and efficient operational execution. The core gherkins business remained the primary revenue driver, with exports exceeding 32,160 metric tonnes and contributing nearly 268 crore, while the Company continued to diversify its portfolio through products such as baby corn, jalapeños, chillies, banderillas, and other value- added preserved vegetables.
A defining milestone during the year was the acquisition of Conservas Selectas Espanolas S.L. and Gandin Invest S.L., marking Fresharas entry into the global specialty foods segment and significantly expanding its international footprint. The acquisition strengthened the Companys access to premium olive products and expanded its presence in the European market. Together with its established export platform, the transaction provides Freshara with a scalable foundation for long- term international growth.
The outlook for Freshara Agro Exports Limited remains positive, supported by rising global demand for value- added, traceable, and premium food products. Increasing consumer preference for preserved vegetables and specialty foods, coupled with expanding export opportunities across developed and emerging markets, provides a favourable environment for the Companys continued growth.
Freshara is well positioned to capitalize on these opportunities through its integrated farm- to- fork business model, diversified product portfolio, and expanding international presence. The Company aims to strengthen its footprint in existing markets while selectively entering new geographies and deepening relationships with global retail, food service, and private- label customers.
Going forward, the Company will focus on scaling its specialty foods business, expanding value- added offerings, and leveraging its European platform to enhance market access, product innovation, and customer reach. These initiatives are expected to support long- term diversification and improve the Companys global positioning.
Freshara will also continue investing in processing infrastructure, supply chain capabilities, sustainable sourcing, and technology- driven quality systems to improve operational efficiency. Supported by a resilient procurement network and disciplined execution, the Company remains well positioned to deliver sustainable long- term growth while creating value for all stakeholders.
The Company operates in a dynamic environment and is exposed to risks relating to agricultural dependence, global markets, regulatory developments, cost volatility and international expansion. The Company continuously monitors these risks and undertakes appropriate mitigation measures.
Gherkins remain a significant contributor to the Companys business. The Company is diversifying into products such as baby corn, banderillas, mixed vegetables and olives. Its network of over 4,000+ contract farmers supports reliable, traceable and consistent raw material sourcing, while weather and crop- related factors remain key considerations.
The seasonal nature of agricultural procurement and export operations requires efficient working capital and inventory management. Fluctuations in raw material, packaging, freight and other input costs, along with supply- chain disruptions, may impact operations and margins.
As an export- oriented business, the Company is exposed to geopolitical developments, trade disruptions, logistics challenges and foreign currency fluctuations. Its presence across multiple international markets provides geographic diversification.
The Company operates in a regulated and competitive global market and must comply with stringent food safety, quality and labelling requirements. It maintains certifications including IFS, BRCGS, FSSAI, Star- K Kosher and Halal Certification, supported by quality and traceability processes.
The integration of the Spanish operations involves operational and execution considerations. The Company is focused on leveraging the combined platform for product diversification, operational efficiency, cross- selling and expansion across international markets.
Freshara continued to strengthen its leadership in the preserved vegetables segment through a diversified product portfolio comprising gherkins, baby corn, jalapenos, chillies, banderillas, beetroot, bell pepper, silver skin onions and olives. While gherkins remained the Companys flagship product, contributing approximately 267.90 Crore in revenue and accounting for nearly 85- 90% of sales, the Company continued to diversify its portfolio through higher- value specialty products and retail- ready offerings.
The acquisition of the Spanish business has significantly expanded Fresharas product portfolio beyond preserved vegetables into the global specialty foods market, particularly olives. The Company is also witnessing increasing demand for retail and food service packaging formats, supporting product diversification, improving customer reach, and strengthening its presence across premium international markets.
| Segment | Performance Highlights |
| Gherkins | Core product with 267.90 crore revenue, contributing 88.97% of total revenue in FY26. |
| Baby Corns | Revenue of 8.18 crore, contributing 2.72% to total revenue and strengthening portfolio diversity. |
| Banderillas | Revenue of 6.48 crore, contributing 2.15% to total revenue with continued portfolio contribution. |
| Chillies, Bell Pepper & Jalapenos | Revenue of 4.77 crore, contributing 1.58% and supporting diversification across preserved vegetables. |
| Mixed Vegetable | Revenue of 13.78 crore, contributing 4.58% and representing a value-added product category. |
Freshara Agro Exports Limited has established internal control mechanisms covering financial reporting, operational processes, asset protection, regulatory compliance and risk management. The framework is supported by defined processes, periodic reviews and internal audit, and is designed to provide reasonable assurance on the reliability of financial reporting, safeguarding of assets, prevention and detection of irregularities, and compliance with applicable laws and regulations.
Our people are central to Fresharas growth and operational success. As at March 31, 2026, the Company employed 629 persons supporting its manufacturing, quality, operational and expansion initiatives. During the year, the Company continued to focus on strengthening workforce capabilities through appropriate training and skill development, while promoting workplace safety, employee well- being and a positive work environment. The Company also remained committed to maintaining cordial industrial relations and fostering a collaborative and engaged workforce.
Freshara delivered a strong financial and operational performance during the year, driven by robust export demand, product diversification, and disciplined execution across its integrated value chain. The Company reported consolidated revenue of 353 Crore, while gherkins exports exceeded 32,160 MT, reflecting its expanding global presence and sustained customer demand. The strategic addition of specialty food products and the strengthening of its European platform further supported revenue growth and enhanced value creation.
Operationally, the Company continued to strengthen its farm- to- fork business model through its two processing facilities in Tamil Nadu and a network of over 4,000+ contract farmers, ensuring reliable sourcing, consistent quality, and supply chain efficiency. Continued investments in processing infrastructure, packaging capabilities, and quality systems improved operational efficiencies, enabling Freshara to meet evolving customer requirements across more than 40+ international markets while maintaining a scalable platform for future growth
| Particulars | FY25 | FY26 | Explanation for change (>25%) |
| Debtors Turnover ratio | 3.11 | 2.93 | - |
| Inventory Turnover ratio | 5.94 | 3.82 | The decrease was primarily due to an increase in average inventory during the year in line with business expansion, which outpaced the growth in revenue. |
| Interest Coverage Ratio | 7.52 | 9.93 | The increase was primarily due to the improvement in the Companys operating profitability during the year, resulting in stronger earnings available to service interest obligations |
| Current Ratio | 1.76 | 1.65 | - |
| Fixed Asset Turnover | 5.11 | 4.48 | - |
| Debt to Equity ratio | 0.74 | 0.74 | - |
| Operating Profit margin(%) | 13.83% | 14.63% | - |
| Net Profit Margin(%) | 11.32% | 11.55% | - |
| Return on Networth | 22.55% | 20.86% | - |
Note: All ratios are on a consolidated basis. For FY25 ratios involving average balances, standalone FY25 figures have been used, as consolidated financial statements were not prepared for FY25.
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