NATF National Foods Limited

National Foods Limited (NATF) financial ratios

National Foods Limited earned a net margin of 11.7% in FY2026 against a five-year average of 6.2% (Food & Personal Care Products median 3.0%). Return on equity was 24.8%, compared with a sector median of 12.0%. The current ratio stood at 2.10× and debt was 36.3% of equity. Cash took about 87 days to cycle through receivables, inventory and payables.

FY2026 vs the Food & Personal Care Products median

Gross margin: 38.4%; Sector median 20.8%
Operating margin: 14.7%; Sector median 7.3%
Net margin: 11.7%; Sector median 3.0%
Return on equity (ROE): 24.8%; Sector median 12.0%
Return on assets (ROA): 12.1%; Sector median 4.5%
Current ratio: 2.10×; Sector median 1.21×
Debt to equity: 36.3%; Sector median 31.9%
Asset turnover: 1.03×; Sector median 1.30×
Dividend payout ratio: 127.0%; Sector median 8.4%

Median of the 25 companies in the sector with the figure for their latest fiscal year.

NATF financial ratios (annual) (Rs mn)
Rs mn	FY2026 * Jul 2025 – Jun 2026	FY2025 * Jul 2024 – Jun 2025	FY2024 Jul 2023 – Jun 2024	FY2023 * Jul 2022 – Jun 2023	FY2022 Jul 2021 – Jun 2022	FY2021 * Jul 2020 – Jun 2021	FY2020 * Jul 2019 – Jun 2020	FY2019 * Jul 2018 – Jun 2019	FY2018 Jul 2017 – Jun 2018	FY2017 Jul 2016 – Jun 2017	FY2016 Jul 2015 – Jun 2016	FY2015 Jul 2014 – Jun 2015	FY2014 * Jul 2013 – Jun 2014	FY2013 Jul 2012 – Jun 2013	FY2012 Jul 2011 – Jun 2012	FY2011 Jul 2010 – Jun 2011	FY2010 * Jul 2009 – Jun 2010	FY2009 * Jul 2008 – Jun 2009	FY2008 Jul 2007 – Jun 2008	FY2007 Jul 2006 – Jun 2007
Profitability
Gross margin	38.4%	28.5%	27.0%	28.0%	28.2%	27.9%	28.8%	28.7%	30.6%	32.1%	32.5%	34.8%	34.6%	34.2%	32.1%	27.7%	28.7%	29.1%	32.2%	34.2%
EBITDA margin	14.7%	11.3%	9.9%	11.1%	12.4%	11.1%	11.4%	9.6%	7.8%	9.9%	10.7%	14.0%	12.9%	12.7%	13.4%	10.4%	7.3%	10.0%	10.6%	10.7%
Operating margin	14.7%	8.3%	7.2%	8.6%	9.9%	8.6%	8.6%	7.3%	6.1%	8.3%	9.0%	12.4%	11.3%	11.4%	12.0%	8.7%	5.2%	7.8%	8.7%	9.1%
Pre-tax margin	12.0%	5.6%	3.9%	7.8%	7.9%	7.6%	8.0%	7.1%	5.4%	7.9%	8.4%	12.3%	10.9%	11.5%	11.7%	6.6%	3.5%	5.9%	7.6%	8.0%
Net margin	11.7%	4.4%	3.2%	6.0%	6.0%	5.7%	5.7%	5.7%	4.8%	5.8%	5.9%	8.5%	7.6%	7.9%	8.1%	4.2%	1.6%	4.0%	5.1%	5.4%
Effective tax rate	2.3%	21.9%	17.1%	23.4%	24.8%	24.9%	28.5%	20.5%	12.5%	26.2%	29.8%	30.6%	30.6%	31.0%	30.3%	36.3%	53.6%	31.9%	33.1%	32.8%
Returns
Return on equity (ROE)	24.8%	27.6%	16.4%	31.9%	31.6%	28.9%	28.6%	30.2%	28.7%	33.1%	29.9%	39.6%	37.5%	44.1%	50.2%	27.7%	10.6%	25.6%	35.4%	41.9%
Return on assets (ROA)	12.1%	9.7%	6.6%	11.6%	11.5%	11.2%	11.6%	11.3%	10.1%	12.0%	12.9%	18.8%	15.9%	18.4%	19.4%	8.3%	3.3%	8.4%	10.7%	11.9%
Return on invested capital (ROIC)	72.8%	15.3%	12.5%	17.6%	17.2%	17.9%	18.9%	18.7%	18.2%	21.4%	23.7%	31.7%	26.9%	31.8%	30.9%	11.9%	2.0%	7.6%	12.1%	14.9%
Liquidity
Current ratio	2.10×	1.35×	1.25×	1.21×	1.06×	1.17×	1.21×	1.06×	0.88×	1.05×	1.13×	1.49×	1.42×	1.30×	1.33×	1.23×	1.01×	1.14×	1.07×	1.10×
Quick ratio	1.54×	0.57×	0.53×	0.43×	0.43×	0.56×	0.44×	0.34×	0.30×	0.41×	0.33×	0.64×	0.56×	0.51×	0.39×	0.20×	0.19×	0.32×	0.33×	0.33×
Leverage
Debt to equity	36.3%	98.8%	120.3%	96.6%	85.8%	77.9%	49.9%	63.5%	74.2%	57.6%	51.6%	13.8%	42.7%	56.8%	36.2%	102.3%	170.1%	93.3%	139.2%	114.6%
Debt to capital	26.6%	49.7%	54.6%	49.1%	46.2%	43.8%	33.3%	38.8%	42.6%	36.6%	34.0%	12.1%	29.9%	36.2%	26.6%	50.6%	63.0%	48.3%	58.2%	53.4%
Debt to assets	21.4%	34.8%	37.3%	32.6%	30.0%	28.0%	20.0%	24.0%	27.2%	20.8%	19.4%	6.9%	19.2%	22.4%	16.1%	33.1%	47.2%	33.3%	41.1%	35.5%
Assets to equity	2.08×	3.02×	3.10×	2.92×	2.83×	2.65×	2.57×	2.68×	2.75×	2.72×	2.31×	2.10×	2.36×	2.40×	2.59×	3.32×	3.23×	3.06×	3.32×	3.51×
Efficiency
Asset turnover	1.03×	2.23×	2.05×	1.94×	1.92×	1.95×	2.02×	2.00×	2.12×	2.08×	2.20×	2.21×	2.11×	2.31×	2.38×	2.00×	1.99×	2.10×	2.09×	2.22×
Receivable days days	28	15	14	17	17	15	17	21	27	31	30	31	30	22	15	19	22	28	29	23
Inventory days days	135	70	84	96	90	86	91	91	87	107	110	107	119	113	124	149	135	111	110	99
Payable days days	76	23	27	27	23	22	24	25	20	14	13	17	15	17	25	29	20	23	31	31
Cash conversion cycle days	87	62	71	87	83	79	84	87	93	124	127	122	133	118	114	139	137	117	108	91
Dividends
Dividend payout ratio	127.0%	33.7%	61.0%	18.1%	48.1%	53.0%	50.7%	38.4%	38.5%	46.2%	35.1%	104.5%	56.4%	45.8%	42.6%	44.9%	67.3%	0.0%	5.4%	6.6%
Earnings retention rate	(0.27×)	0.66×	0.39×	0.82×	0.52×	0.47×	0.49×	0.62×	0.61×	0.54×	0.65×	(0.05×)	0.44×	0.54×	0.57×	0.55×	0.33×	1.00×	0.95×	0.93×

Ratios as reported for each fiscal year; returns are on average equity / assets. Debt ratios are percentages; turnover in times; working-capital measures in days.

NATF: frequently asked questions

What is NATF's EPS?

National Foods Limited reported basic earnings per share of Rs 111.42 for FY2026 (Jul 2025 – Jun 2026).

What is NATF's P/E ratio?

At the closing price of Rs 315.10 on 16 Oct 2026, NATF trades at a P/E of 2.8× based on EPS of Rs 111.42 (FY2026).

Does NATF pay dividends?

Yes. National Foods Limited declared a dividend of Rs 30.00 per share for FY2026. It has paid a dividend in each of the last 17 years. At Rs 315.10 that is a dividend yield of 9.5%.

What was NATF's revenue and profit in FY2026?

National Foods Limited reported revenue of Rs 50.7 bn and profit attributable to shareholders of Rs 26.0 bn for FY2026 (Jul 2025 – Jun 2026).

What is NATF's book value per share?

National Foods Limited's book value per share was Rs 133.35 at the end of FY2026. The shares trade at 2.36× book value.

Information only, not investment advice.