NSE: HEXAGON · BSE: 544785
HEXAGON NUTRITION LIMITED
Makes a diversified portfolio of nutrition products across five verticals — micronutrient premixes, therapeutic foods/RUTF, clinical nutrition, food fortification and consumer-branded nutrition — sold in 70-plus countries. FY26 revenue of INR382.63 cr (+17.8% YoY) is split across branded (30%), premix (35-40%) and ESG (30%) segments, with exports at 57% of revenue and over 80% of exports from premix and ESG; West Asia contributes under 20% of exports. Q1 FY27 revenue rose 43.2% YoY to INR104.3 cr, with PAT up 25.1% to INR8.1 cr, though EBITDA margin compressed to 11.3% from 13.8% on West Asia-driven raw material and freight inflation. Each segment runs at distinct economics: branded carries 60-68% gross margins and sells via medical reps and online channels including e-pharmacies, Amazon and Flipkart; premix runs at 35-40% gross margins and supplies food manufacturers; ESG operates at 25-30% gross margins and serves government and multi-lateral nutrition programmes. The branded segment is being scaled toward 35% of revenue within two years from ~28% currently, with push into Tier 2/3 cities and digital channels. Manufacturing is under-utilised, and INR25-30 cr is committed to redevelop the Nashik premix facility over 1-1.5 years. The largest cost pressures are raw materials and freight, both flagged as inflated by West Asia geopolitics in Q1 FY27. AR · MarketPing reader · 2026-09-16
Revenue streams, as the annual report describes them. Branded / B2C consumer nutrition (30%), Micronutrient premixes, ESG / institutional nutrition (30%). Diversified nutrition manufacturer with a 57% export tilt and distinct margin profiles per segment — branded highest at 60-68% gross margin, ESG lowest at 25-30%
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 104 |
| Profit before tax | 11 |
| Net profit | 8 |
| EPS (₹) | 0.67 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · RTA compliance certificate for quarter ended September 30, 2026 | compliance | minimal | — | — |
| 7 Oct 2026 · EGM notice published in newspapers; meeting on October 28, 2026 | compliance | minimal | — | — |
| 7 Oct 2026 · Letters sent to shareholders for EGM notice access | compliance | minimal | — | — |
| 6 Oct 2026 · Hexagon Nutrition EGM on Oct 28 to vote on promoter appointments and pay hikes | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Board notes EGM requisitions for Chairman appointment and Director remuneration | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Hexagon Nutrition completes process validation for new Vitamin A product | business updates | medium | — | — |
| 28 Sept 2026 · Chairman Arun Kelkar exits after term completion | management changes | high | — | — |
| 28 Sept 2026 · Chairman and Executive Director Arun Kelkar ends term on Sep 28, 2026 | management changes | high | — | — |
| 26 Sept 2026 · Board meeting on Sept 30 to consider promoter requisitions on director matters | board shareholder meetings | medium | — | — |
| 25 Sept 2026 · Trading Window closed from Oct 1 for Q2 results | 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.