NSE: AEROPLANE · BSE: 544743
AMIR CHAND JAG KUM (E) L
Processes and sells basmati rice under the Aeroplane brand, with rice accounting for 99% of FY26 consolidated revenue of Rs 2,287.138 crore. The business sells to consumers, retailers and food-service channels across 38+ countries through 436 domestic distributors and 53 international distributors, with the domestic market contributing 67% of total revenues. Manufacturing capacity stands at 550,800 metric tonnes per annum, currently running at roughly 61% utilisation. Distribution is being widened, including a partnership with Oman's Al Tasnim Group to stock Aeroplane Rice in the Sultanate and a new wholly-owned subsidiary in Singapore to support overseas expansion. The company is diversifying into adjacent FMCG staples under the same Aeroplane brand and plans to scale its distributor base to 700+ by FY28. Raw materials (paddy/rice) dominate the cost base at 83.3% of revenue, while employee costs are minimal at 0.7%. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Basmati rice (Aeroplane brand) (99%), FMCG staples. Branded, distribution-led basmati rice exporter with a small, growing FMCG diversification leg.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 2,287 |
| EBITDA (ex other income) | 225 |
| margin % | 9.8 |
| Owners' profit | 103 |
| EPS, as reported (₹) | 12.51 |
| ROE % · ROCE % | 11.2 · 24.0 |
| Debt / equity (x) | 0.82 |
| Cash from operations | (166) |
| Capex | (2) |
Exhibit 2: Quarterly performance, last 3 quarters
| ₹ crore | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|
| Revenue | 571 | 695 | 664 |
| Profit before tax | 48 | 26 | 48 |
| Net profit | 35 | 20 | 37 |
| EPS (₹) | 4.19 | 2.36 | 3.55 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 13,579 | 21.2 | 3.00 | 11.6 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,108 | 10.7 | 1.40 | 8.4 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 6,628 | 15.9 | 2.01 | 12.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| KAVERI SEED CO. LTD. | 3,503 | 14.2 | 2.00 | 9.4 | 16.9 | 17.0 | 6.1 | 40.1 |
| TRUALT BIOENERGY LIMITED | 3,301 | 23.5 | 2.09 | 12.9 | 6.1 | 4.8 | — | 23.5 |
| INDRAYANI BIOTECH LTD. | 2,984 | 22.4 | 29.23 | 218.8 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L ◆ | 2,249 | 21.5 | 2.43 | 13.1 | 11.2 | 14.8 | — | 9.5 |
| GRM OVERSEAS LIMITED | 1,823 | 13.9 | 3.01 | 17.1 | 12.3 | 16.5 | 17.2 | 8.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 21.5 | 12.3 | 42 of 53 | 21% |
| P/B | 2.4 | 1.6 | 38 of 51 | 26% |
| ROCE | 14.8 | 4.1 | 17 of 67 | 76% |
| ROE | 11.2 | 3.5 | 15 of 51 | 72% |
| Debt / Equity | 0.8 | 0.4 | 36 of 51 | 30% |
| EBITDA margin | 9.5 | 9.7 | 24 of 45 | 48% |
| Market cap | 2249 | 66 | 7 of 69 | 91% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board meeting to approve September quarter and half-year results | results | low | — | — |
| 12 Oct 2026 · Credit rating upgraded to IVR A+/Stable on enhanced bank facilities | credit debt | high | — | — |
| 5 Oct 2026 · Quarterly compliance certificate on dematerialisation filed | compliance | minimal | — | — |
| 30 Sept 2026 · AGM 2026 voting results: All 5 resolutions passed | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading window shut from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 29 Sept 2026 · Summary of 23rd AGM proceedings held on September 29, 2026 | board shareholder meetings | low | — | — |
| 24 Sept 2026 · Company sets up wholly owned subsidiary in Saudi Arabia | capex operations | low | — | — |
| 23 Sept 2026 · Analyst and Institutional Investor Meeting Scheduled for Sept 28, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · 23rd AGM notice and FY26 Annual Report web-link shared with members | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Newspaper publication of 23rd AGM notice filed | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.