Zappfresh targets ₹600 crore revenue by FY28, plans 200 partner stores

DSM Fresh Foods, owner of meat and seafood brand Zappfresh, is targeting threefold revenue growth to ₹600 crore by FY28. It plans to reach 200 partner-operated stores by year-end while scaling frozen foods domestically and expanding exports.

— Source published Thu, 20 Aug, 2026, 13:48 IST · First seen Thu, 20 Aug, 2026, 19:12 IST · Source BL · Consumer & Economy

What happened

DSM Fresh Foods’ Zappfresh targets ₹600 crore revenue by FY28, expanding to 200 partner-operated stores, scaling domestic frozen foods and pursuing exports

Key facts

  • ₹600 crore revenue target by FY28
  • ₹220.8 crore FY26 revenue
  • 69% FY26 revenue growth
  • ₹31.1 crore EBITDA
  • 91% EBITDA growth
  • ₹14.3 crore net profit
  • 59% net-profit growth
  • 200 stores targeted by year-end
  • ₹70-80 crore international frozen-food business target
  • Chicken accounts for about 50% of business
  • two-hour delivery slot

Why this matters

Zappfresh’s expansion creates partnership opportunities across franchise infrastructure, cold-chain logistics, frozen-food distribution and export channels as it builds a broader food platform.

What to watch

  • Actual number of operational partner stores by year-end versus the 200-store goal.
  • Store-level sales density, franchisee payback period, and evidence of closures or partner churn.
  • Share of revenue from frozen and value-added products versus fresh meat and seafood.
  • Gross-margin movement, spoilage/wastage rates, and cold-chain or food-safety incidents.
  • New processing, warehousing, or refrigerated-logistics investments.
  • Export-market launches, regulatory approvals, distributor partnerships, and overseas revenue contribution.
  • Funding, debt, or strategic partnerships needed to finance the FY28 expansion plan.
  • Prioritize partner-store openings in dense metro and tier-1 catchments where online demand can seed walk-in traffic.
  • Build store formats around frozen, ready-to-cook, marinades, and high-frequency essentials to reduce reliance on low-margin fresh-meat transactions.
  • Use stores as hyperlocal fulfillment and pickup nodes to shorten delivery times and improve order economics.
  • Strengthen franchisee operating standards for cold storage, traceability, assortment, hygiene, and wastage controls.
  • Secure processing capacity, cold-chain logistics, and export certifications before broadening international frozen-food distribution.
  • Deploy loyalty, subscriptions, and bundled meal solutions across online and offline channels to increase repeat purchase frequency.

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