Shah Foods

Power Storage & Backup Solutionsshahfoods.com

Shah Foods Limited (BSE: 519031) is an India-based publicly listed company pivoting from dormant wholesale fruit and vegetable trading into power storage and backup solutions via its March 2026 acquisition of Tandhan Power Technologies (₹144.35 crore FY25 turnover), pending rebrand to Tandhan Energies Limited.

Company typePublic
Founded1982
HeadquartersAhmedabad, India
Headcount51–100
GTM typeB2B
OfferingHardware or Manufacturing

What Shah Foods does

Shah Foods Limited (BSE: 519031) is an India-based, publicly listed company founded in 1982 and historically engaged in wholesale trading of fruits and vegetables from its Ahmedabad, Gujarat base. The company is undergoing a complete corporate transformation following its March 27, 2026 acquisition of Tandhan Power Technologies Private Limited for an aggregate consideration of approximately ₹992.81 crore (₹751.57 crore cash plus a share swap of 15,885,037 equity shares at ₹62.50). The acquisition pivots the listed entity from a dormant food-trading business into the power storage and backup solutions sector; the legacy wholesale produce segment reported zero sales in Q3 FY26 and a small ₹0.05 crore standalone net loss, while the acquired Tandhan subsidiary generated a ₹144.35 crore turnover in FY25.

The post-acquisition business model is bifurcated: a winding-down wholesale produce trading arm on the parent entity, and the active power storage and backup solutions business operating through Tandhan Power Technologies. Revenue mechanics for the energy business are hardware-led (power storage and backup equipment sales), distributed through B2B and wholesale channels to commercial and industrial customers; the legacy arm operated on a wholesale produce transaction-fee model. No proprietary technology, patents, certifications, app, or API platform is disclosed, and the company has 51–100 employees with no AI/ML capability indicated.

The corporate restructuring accompanying the acquisition includes a pending name change to Tandhan Energies Limited, relocation of the registered office from Gujarat to West Bengal, and appointment of Mr. Anuj Jalan as Chairman and Managing Director, all subject to shareholder approval via postal ballot scheduled July 19 – August 17, 2026. An SEBI-mandated open offer process is in progress, with Navigant Corporate Advisors having filed the Draft Letter of Offer with BSE. The company's shahfoods.com domain is listed for sale on a domain marketplace, consistent with the full abandonment of the legacy Shah Foods corporate identity.

Shah Foods firmographics

Firmographics

Name: Shah Foods
Legal name: Shah Foods Limited
Website: https://shahfoods.com
Company type: Public
Founded year: 1982
Operating status: Operating
Headcount range: 51–100 employees
Short description: Shah Foods Limited (BSE: 519031) is an India-based publicly listed company pivoting from dormant wholesale fruit and vegetable trading into power storage and backup solutions via its March 2026 acquisition of Tandhan Power Technologies (₹144.35 crore FY25 turnover), pending rebrand to Tandhan Energies Limited.
Ownership category
akta.pro rank

Shah Foods industry classification

Industry

Product category: Power Storage & Backup Solutions
NAICS: Fruit and Vegetable Preserving and Specialty Food Manufacturing (3114), Farm Product Raw Material Merchant Wholesalers (4245)
SIC: Bakery Products (2050), Food And Kindred Products (2000), Wholesale-Farm Product Raw Materials (5150)
akta.pro primary industry: Frozen Fruits & Vegetables Manufacturing (AFAKACAF)
akta.pro secondary industry: Frozen Fruits & Vegetables Wholesale (AFAIAHAE)

Keywords

Power storage solutions
Backup energy systems
Biscuit manufacturing
Packaged food products
Wholesale food trading

Where Shah Foods is headquartered

Location

Headquarters

HQ city: Ahmedabad
HQ country: India
HQ region: Asia

Offices2 records

Markets served

Shah Foods business model

Business model

GTM type: B2B
Offering type: Hardware or Manufacturing
Cost components: Supply Chain, Operations, Personnel, Marketing or Sales, Others

Revenue model

Wholesale Fruit and Vegetable Trading: Original business focused on wholesale trading of fruits and vegetables. The company reported no sales in the December 2025 quarter and minimal revenue, indicating this legacy business is dormant or winding down.
Power Storage and Backup Solutions: Revenue generated through Tandhan Power Technologies subsidiary, which reported turnover of ₹144.35 crore in FY25 from power storage and backup solutions sector.

Go-to-market motion1 record

Distribution channels1 record

Shah Foods product offering

Product offering

Core offering

Shah Foods Limited is an Indian publicly listed company historically engaged in food processing, manufacturing and selling biscuits and other packaged foods, and operating wholesale trading of fruits and vegetables. Following its March 2026 acquisition of Tandhan Power Technologies Private Limited, the company has diversified into power storage and backup solutions, with the acquired subsidiary reporting ₹144.35 crore turnover in FY25. The legacy wholesale produce business is currently dormant with zero sales in the December 2025 quarter.

Product overview

Shah Foods Limited operates as a dual-segment company following its acquisition of Tandhan Power Technologies Private Limited. The original business comprises wholesale fruit and vegetable trading operations, while the newly acquired Tandhan Power segment provides power storage and backup solutions. The company is undergoing strategic diversification from food trading into the energy storage sector, with plans to rename itself Tandhan Energies Limited.

Differentiator

Problem solved

Functional benefit

Products and services

Tandhan Power Storage and Backup Solutions Power storage and backup solutions for commercial and industrial customers, delivered through Shah Foods' wholly-owned subsidiary Tandhan Power Technologies Private Limited (acquired March 2026). The subsidiary reported ₹144.35 crore turnover in FY25 from this segment.
Wholesale Fruit and Vegetable Trading Legacy wholesale trading of fruits and vegetables, historically Shah Foods' original business segment. The segment reported no sales in the December 2025 quarter and is currently dormant or winding down as the company pivots to power storage.
Biscuits and Packaged Foods Food processing business involving manufacturing and sale of biscuits and other packaged foods, as described in the company's firmographic profile.

Quantifiable outcome

Turnover of ₹144.35 crore from acquired entity in FY25

Companies that use Shah Foods

Customer profile

Segments2 records

Ideal customer profiles2 records

Shah Foods technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Shah Foods partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Tandhan Power Technologies Private LimitedcoreStrategic or Co-development Partner · 27 March 2026Shah Foods acquired 100% shareholding in Tandhan Power Technologies for approximately ₹992.81 crore through share swap (15,885,037 equity shares at ₹62.50 per share) and cash payment of ₹751.57 crore. The acquired entity operates in power storage and backup solutions with ₹144.35 crore turnover in FY25.

Scale indicators5 records

Recent moves8 records

Expansion highlights5 records

Shah Foods competitors and assessment

Company assessment

Direct peers

Luminous Power Technologies: Leading Indian power backup and home electrical solutions provider, now part of Schneider Electric. Directly overlaps with Tandhan Power's inverter and battery backup offerings for residential and commercial customers.
Genus Power Infrastructures: Indian power infrastructure and metering company with growing energy storage exposure. Operates in adjacent power-sector segments relevant to Shah Foods' diversification thesis.
Exide Industries: India's largest lead-acid battery and power storage manufacturer. Directly comparable to Shah Foods' newly acquired Tandhan Power Technologies subsidiary, which operates in the same power storage and backup solutions market Exide serves across automotive, industrial, and inverter segments.
Livguard Energy: Indian power backup and energy storage company offering inverters, batteries, and solar solutions. Recently comparable challenger in the same space Tandhan Power operates, with overlapping customer segments.
Amara Raja Energy & Mobility: Major Indian battery and energy storage company with the Amaron brand. Competes head-to-head with Tandhan Power Technologies in backup power and energy storage, with similar B2B and B2C distribution models.
HBL Power Systems: Indian manufacturer of batteries and power electronics for industrial, telecom, and defense applications. Directly comparable to the industrial backup power business of Tandhan Power Technologies.
Su-Kam Power Systems: Indian power backup and solar energy solutions company offering inverters, UPS systems, and batteries. Highly comparable to Tandhan Power Technologies' product portfolio and target customer segments.
Okaya Power: Indian inverter, battery, and power backup solutions company. Operates in the same product categories and B2B/B2C channels as Tandhan Power Technologies.
Microtek International: Indian UPS, inverter, and power backup solutions manufacturer. Competes with Tandhan Power Technologies in the same product categories — inverters, UPS systems, and battery-based backup solutions.

Broad incumbents

Schneider Electric India: Global energy management and automation leader with a strong Indian presence (including via Luminous). Operates broader energy solutions than Tandhan Power, but competes in the same power backup and storage segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights4 records

Customer concentration

Shah Foods financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Shah Foods leadership team

Management profile

Number of profiles

Profiles1 record

Shah Foods subsidiaries and ownership

Company hierarchy

Subsidiaries2 records

Shah Foods funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Shah Foods M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Shah Foods

What does Shah Foods do?

Is Shah Foods a public or private company?

Shah Foods is a public company. It is classified as public and is currently operating.

When was Shah Foods founded?

Shah Foods was founded in 1982. It employs 51 to 100 people.

Where is Shah Foods based?

Shah Foods is headquartered in Ahmedabad, India, in the Asia region.

How does Shah Foods make money?

Two revenue lines are on record. Wholesale Fruit and Vegetable Trading is the primary driver. The others are power Storage and Backup Solutions.

Who are Shah Foods's main competitors?

Direct peers on record are Luminous Power Technologies, Genus Power Infrastructures, Exide Industries, Livguard Energy, Amara Raja Energy & Mobility, HBL Power Systems, Su-Kam Power Systems, Okaya Power and Microtek International. Schneider Electric India is listed as a broad incumbent.

Does Shah Foods have an API?

No public API is recorded for Shah Foods.

What industry is Shah Foods in?

Shah Foods's product category is Power Storage & Backup Solutions. Its primary akta.pro industry code is AFAKACAF, Frozen Fruits & Vegetables Manufacturing, with a secondary code of AFAIAHAE, Frozen Fruits & Vegetables Wholesale. Its NAICS code is 3114 and its SIC code is 2050.