Earning Call Transcript held on 05th May 2026

Nath Bio-Genes reported FY26 total revenue of INR 4,316 million, up 19% YoY, with EBITDA at INR 525 million (12% margin) and PAT at INR 384 million (9% margin). Gross margin normalized to 56% from the elevated 63% in FY25, while EPS improved to INR 23.42 (more than 2X from FY22). Operationally, cotton volumes grew 22% YoY, paddy value rose 35% YoY, and maize emerged as the star performer with 78% value growth, now contributing 10.72% to top line. The Uzbekistan JV contributed INR 15 crores for the first time. Management guided for 15-20% top line growth in FY27 with slightly upward EBITDA margin trend. The company is deliberately building inventory ahead of FY27 season, with finance costs rising to INR 133 million due to working capital investment.