BSE: 512109
AVIVA INDUSTRIES LTD.
Trades agriculture products as a single-segment business in India. Revenue from operations for FY26 stood at Rs 8,777.51 lakh, up from Rs 319 lakh in FY25, with the company posting a net profit of Rs 187.55 lakh against a loss of Rs 8.65 lakh the previous year. The Q3 FY26 disclosure confirms the business runs as a single segment — trading of agriculture products. The cost structure is light, with employee costs at 0.1% and other opex at 1.0% of revenue, and depreciation at 0%, against an FY26 EBITDA margin of 3.15%. The company raised approximately Rs 70 crore through 11 preferential warrant issues during January-February 2026, with stated use of funds for working capital requirements. The board has also approved acquiring a 90% stake in Agribullion Ventures Private Limited at an indicative valuation of Rs 3,350 crore through a share swap mechanism, pending shareholder and regulatory approvals. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading of agriculture products. Small-cap, single-segment agriculture products trading business
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 1 | 1 | 0 | 82 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | 3 |
| margin % | (1.8) | (2.2) | (6.0) | (271.2) | 3.1 |
| Owners' profit | 0 | 0 | (0) | (0) | 2 |
| EPS, as reported (₹) | 0.38 | (0.28) | (0.23) | (0.58) | 0.77 |
| ROE % · ROCE % | 0.1 · 0.2 | 0.2 · 0.2 | (1.1) · (0.9) | (2.9) · (2.3) | 2.5 · 3.4 |
| Debt / equity (x) | 0.25 | 0.24 | 0.24 | 0.25 | 0.01 |
| Cash from operations | (1) | 0 | (0) | 0 | (67) |
| Capex | 0 | 0 | 0 | 0 | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 3 | 14 | 65 | 40 |
| Profit before tax | (0) | (0) | (0) | (0) | 0 | 1 | 1 | 1 |
| Net profit | (0) | (0) | (0) | (0) | 0 | 1 | 1 | 1 |
| EPS (₹) | (0.27) | (0.32) | (0.11) | (0.75) | 1.12 | 5.94 | 0.38 | 0.19 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 27,525 | 16.2 | 2.64 | 12.8 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 7,740 | 17.3 | 3.65 | 16.5 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 3,896 | 16.6 | 4.31 | 11.3 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,653 | 25.4 | 4.27 | 19.0 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,104 | — | 12.27 | — | (0.0) | (0.0) | — | 45.0 |
| SHIV AUM STEELS LIMITED | 736 | 64.8 | 6.09 | 47.0 | 6.0 | 6.9 | — | 4.9 |
| The Yamuna Syndicate Ltd | 736 | 8.1 | 0.57 | 185.3 | 4.0 | 0.3 | 4.8 | 6.2 |
| THE STATE TRADING CORPN | 602 | 0.9 | — | 51.0 | — | — | — | — |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 8.5 | 13.9 | 44 of 130 | 67% |
| P/B | 2.8 | 0.9 | 115 of 150 | 24% |
| ROCE | 3.4 | 2.1 | 78 of 177 | 56% |
| ROE | 2.5 | 2.3 | 78 of 158 | 51% |
| Debt / Equity | 0.0 | 0.1 | 64 of 154 | 59% |
| EBITDA margin | 2.0 | 4.5 | 95 of 137 | 31% |
| Profit growth | 638.0 | 0.6 | 12 of 157 | 93% |
| Market cap | 211 | 21 | 20 of 179 | 89% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Aviva Industries September quarter profit rises 176%, but operating cash outflow widens | results | high | — | — |
| 27 Oct 2026 · Revenue and profit fall as operating cash outflow widens | results | medium | — | — |
| 21 Oct 2026 · Board meeting on Oct 27, 2026 to approve Q2 FY27 results | results | low | — | — |
| 12 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · Aviva Industries revised AGM voting results - all 5 resolutions passed | board shareholder meetings | low | — | — |
| 30 Sept 2026 · AGM 2026 voting results all 5 resolutions passed | compliance | minimal | — | — |
| 28 Sept 2026 · 42nd AGM outcomes: FY26 results adopted, registered office shift to Gujarat approved | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure for September Quarter Results | compliance | minimal | — | — |
| 6 Sept 2026 · Newspaper Publication of 42nd AGM Notice | compliance | minimal | — | — |
| 3 Sept 2026 · AVIVA INDUSTRIES FY26 Annual Report filed; 42nd AGM on September 28, 2026 | general | medium | — | — |
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.