Shellz India was incorporated in 2012 as Tifosi Foods Private Limited, renamed Shellz India Private Limited in 2020. The company manufactures and markets confectionery products in India through a portfolio of more than 300 SKUs across baked treats, choco delights, jellies, and panned and sugar confectionery. It also manufactures food and bakery ingredients, and undertakes private-label manufacturing for third-party customers. The company markets consumer products under the Hugs and Tosca brands. Hugs serves mass-market price points, with most products priced at ₹10 or below, while Tosca targets relatively higher unit selling prices and is being developed through e-commerce and quick-commerce channels. In FY26, revenue from operations has been divided as follows: Hugs 89.9%, food and bakery ingredients 8.6% and Tosca 1.4%. Hugs contribution dropped to 94.4% in FY24, while ingredients rose to 4.6% and Tosca to 0.9%. The distribution model is fuelled by super stockists, online platforms, modern trade, private labels and exports. Super stockists contributed 95.9% of the revenue in FY26, online platforms contributed 1.8%, private labelling contributed 1.05%, modern trade contributed 0.6% and exports contributed 0.5%. As of 31 March 2026, the network consisted of over 300 super stockists spread across approximately 24 states. Food and bakery ingredients are supplied to institutional and HoReCa customers. North India contributed 75.3% of FY26 revenue, followed by East India at 11.7%, South India at 9.3% and West India at 3.1%; exports were 0.5%. Export markets include the Middle East, South Asia and Europe, and the export share declined from 1.7% in FY24. The company presently procures all raw materials from the local market. Its manufacturing machinery includes equipment sourced from Turkey, China and Indonesia, alongside ancillary equipment from domestic suppliers. The company currently manufactures at Samaipur, Delhi and is consolidating and expanding operations at Sonipat, Haryana. Delhi installed capacity rose from 15,150 MT in FY24 to 17,100 MT in FY25 and remained at 17,100 MT in FY26. Production was 9,547 MT, 11,482 MT and 11,375 MT, respectively, while aggregate utilisation was 63.02%, 67.1% and 66.5%. The proposed Sonipat configuration has a total installed capacity of 34,500 MT across existing product categories and new equipment phases.