Q&T Foods
Q&T Foods Limited is a bakery products company specializing in the production, distribution, and marketing of items such as breads, buns, pizza bases, and kulchas. Operating under the brand 'American Bakers', the company serves the food processing sector from its manufacturing facility in Ghaziabad.
Price Band
₹115 - ₹115
Lot Size
2400 Shares
Issue Size
₹26.25 Cr
Fresh Issue
₹26.25 Cr
OFS
N/A
Registrar
AI Sentiment Score
Listing Price
₹269.60
vs Issue: ₹115 (+134.43%)
📅 IPO Timeline
✓
Open
Aug 12
✓
Close
Aug 14
✓
Allotment
Aug 17
✓
Refund
Aug 18
✓
Demat
Aug 18
✓
Listing
Aug 19
✨ AI Analysis & Prediction
+2.0%
predicted listing gain
The predicted listing gain is adjusted downward primarily due to an absolute lack of institutional (QIB) demand (0.0x) and a neutral GMP. While strong ROE and a small float provide a slight cushion, the weak subscription velocity across QIB and NII segments suggests a lack of market appetite at the current price point.
💪 Strengths
- Exceptional ROE (53.95%) and ROCE (70.88%)
- Consistent revenue and PAT growth over three years
- 100% Fresh Issue indicating growth capital infusion
⚠️ Weaknesses
- Zero QIB subscription indicating lack of institutional interest
- Debt-to-equity ratio of 0.9
- Small scale of operations compared to industry giants
🚀 Opportunities
- Expansion of product portfolio under 'American Bakers' brand
- Potential to increase distribution network beyond 50 dealers
🛡️ Threats
- Intense competition from established bakery brands
- Volatility in raw material prices for flour and sugar
🎯 Objectives of the IPO
| Requirement / Purpose | Amount (₹ Cr) |
|---|---|
| To finance the Capital expenditure requirements for the purchase of Equipment/Machineries for existing manufacturing facility | ₹4.42 |
| To part finance the requirement of Working Capital | ₹7.50 |
| Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company | ₹6.75 |
| To meet General corporate purposes | ₹7.58 |
📊 Financial Overview
| Metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue (₹ Cr) | Rs 40.22 Cr | Rs 46.83 Cr | Rs 54.78 Cr |
| Net Profit / PAT (₹ Cr) | Rs 1.96 Cr | Rs 2.74 Cr | Rs 5.20 Cr |
| EBITDA / Op. Profit (₹ Cr) | Rs 3.78 Cr | Rs 4.97 Cr | Rs 8.47 Cr |
| Borrowings (₹ Cr) | Rs 9.84 Cr | Rs 10.11 Cr | Rs 11.05 Cr |
| Total Assets (₹ Cr) | Rs 14.35 Cr | Rs 19.68 Cr | Rs 26.57 Cr |
| ROCE % | 33.71% | 31.26% | 38.87% |
Company P/E
10.6x
Debt/Equity
0.90
📋 Live Subscription Status
QIB
0.00x
NII
0.20x
Retail
2.64x
Total
1.42x
Updated: Aug 20, 2026 11:01 AM
💼 Reservation Quota
QIB
0.00%
Retail
50.00%
NII
50.00%
📈 Shareholding & Anchor Lock-In
🔗 Important Links & Lead Managers
- Check Allotment StatusCheck Now →
- Registrar WebsiteVisit →
- Download DRHP ProspectusDownload PDF 📥
- Download RHP ProspectusDownload PDF 📥
Lead Managers / Merchant Bankers
This issue is managed by Hem Securities Ltd., and Share India Capital Services Pvt. Ltd.
Disclaimer: The information provided on this page is for educational and informational purposes only and does not constitute financial advice. IPO investments are subject to market risks. AI-generated analysis is based on publicly available data and may not be accurate. Grey Market Premium (GMP) is unofficial and highly speculative. Always consult a qualified financial advisor and read the DRHP/RHP carefully before making investment decisions.
Founded in August 2018, Q&T Foods Limited has evolved into a specialized player in the bakery segment. The company has focused on building a diversified product portfolio and establishing a reliable distribution network to scale its operations since its inception.
The company's core business model revolves around the manufacturing of a wide array of bakery products, including Milk Bread, White Bread, Brown Bread, Multigrain Bread, Burger Buns, Pav, Kulcha, and Pizza Bases. These products are marketed under the brand name 'American Bakers', targeting both retail and commercial segments.
Operationally, Q&T Foods leverages a distribution network of over 50 dealers to reach a broad customer base of retail stores and various customers. This network ensures that their fresh bakery products are efficiently delivered across their target geographies.
The company operates a dedicated manufacturing facility located in Ghaziabad, Uttar Pradesh. The plant is spread across 10,750 square feet and boasts an installed capacity of 9,472 TPA, utilizing strict quality control for ingredients sourced from various suppliers across Uttar Pradesh.
The promoter group consists of Nishant Raj Gupta, Khushbu Varshney, Usha Gupta, and Rakesh Gupta, who have steered the company from a startup phase in 2018 to a profitable entity with growing annual revenues.
Q&T Foods is launching a Fixed Price IPO to raise approximately ₹26.25 Crores, consisting entirely of a fresh issue. The issue is priced at ₹115 per share with a minimum market lot of 2,400 shares, requiring an application amount of ₹2,76,000. The IPO opened on August 12, 2026, and closed on August 14, 2026, with listing scheduled for August 19, 2026, on the BSE SME platform.
The proceeds from the fresh issue are earmarked for critical growth and stability needs. Specifically, ₹4.42 Crores will be used for capital expenditure to purchase machinery for the existing facility, ₹7.50 Crores for working capital requirements, and ₹6.75 Crores for the repayment or prepayment of certain borrowings.
Financially, the company has shown a positive growth trajectory. Revenue increased from ₹40.22 Crores in 2024 to ₹46.83 Crores in 2025, and reached ₹54.78 Crores in 2026. Profitability has also improved significantly, with PAT growing from ₹1.96 Crores in 2024 to ₹5.20 Crores in 2026.
In terms of valuation, the company has a P/E ratio of 10.62 based on an EPS of ₹10.84. When compared to listed peers like Mrs. Bectors Foods Specialties Limited, which has a significantly higher P/E of 54.37, Q&T Foods appears reasonably priced, offering a potential valuation margin of safety.
Key strengths include an exceptionally high ROE of 53.95% and ROCE of 70.88%, indicating efficient capital utilization. However, the lack of QIB participation and a debt-to-equity ratio of 0.9 highlight some risks regarding institutional confidence and leverage.
From an investor's perspective, the company displays strong internal growth and healthy margins. However, the neutral GMP and low subscription figures suggest a cautious approach. Investors may view this as a long-term play based on fundamentals rather than a short-term listing gain opportunity.