NSE: KNAGRI
KN AGRI RESOURCES LIMITED
Crushes soybeans and trades agri commodities, with almost the entire Rs 1,814 crore FY26 revenue coming from the Agri Commodities segment (99.5%). The business produces soybean oil, branded retail edible oils, and lecithin, and FY26 saw its highest-ever soybean crushing volume, with branded retail oil sales up 48% and lecithin sales up 38% year-on-year. A pulses processing unit under wholly owned subsidiary KN Retail Pvt Limited was reported as nearly ready and is expected to support FY27 volumes. A small Power segment contributes only Rs 1.27 crore of FY26 revenue (0.1%), and Other Income adds Rs 7.40 crore. Profitability is thin — EBITDA margin was 3.21% in FY26 versus 3.73% in FY25 — squeezed by soybean import disruptions and higher export costs linked to the West Asia conflict. Materials (soybean and other agri inputs) are the dominant cost, at 50.5% of revenue, while employee costs are negligible at 0.6%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Agri Commodities (100%), Other Income (0%), Power (0%). Cyclical, commodity-driven agribusiness with thin margins
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 1,725 | 1,814 |
| EBITDA (ex other income) | 61 | 51 |
| margin % | 3.5 | 2.8 |
| Owners' profit | 37 | 32 |
| EPS, as reported (₹) | 14.76 | 12.67 |
| ROE % · ROCE % | 10.5 · 17.3 | 8.2 · 14.2 |
| Debt / equity (x) | 0.15 | 0.09 |
| Cash from operations | (3) | 14 |
| Capex | (10) | (18) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY25 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|
| Revenue | 1,725 | 816 | 513 | 481 | 509 |
| Profit before tax | 50 | 19 | 7 | 18 | 18 |
| Net profit | 37 | 14 | 5 | 13 | 13 |
| EPS (₹) | 14.76 | 5.60 | 2.02 | 5.04 | 5.37 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Agri Commodities | 1,813 | 99.5 |
| Power | 1 | 0.1 |
| Other Income | 7 | 0.4 |
| Total, before eliminations | 1,821 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MARICO LIMITED | 1,00,055 | 52.8 | 22.26 | 39.5 | 40.3 | 38.1 | 11.1 | 21.9 |
| PATANJALI FOODS LIMITED | 40,393 | 20.5 | 3.08 | 24.6 | 13.9 | 10.3 | — | 4.8 |
| AWL AGRI BUSINESS LIMITED | 21,415 | 18.5 | 2.05 | 8.2 | 10.0 | 11.1 | — | 3.8 |
| GOKUL AGRO RESOURCES LTD | 6,128 | 11.8 | 4.31 | 9.1 | 26.0 | 26.9 | 23.5 | 4.1 |
| CIAN Agro Ind & Infra Ltd | 2,551 | 7.9 | 1.15 | 7.2 | 10.0 | 7.7 | 53.1 | 32.3 |
| SUNDROP BRANDS LIMITED | 2,394 | 85.8 | 1.62 | 38.2 | 1.4 | 1.7 | — | 6.1 |
| Shri Venkatesh Refineries Limi | 1,659 | 33.5 | — | — | — | 22.2 | — | — |
| KN AGRI RESOURCES LIMITED ◆ | 472 | 10.5 | 1.23 | 8.6 | 8.2 | 11.4 | — | 4.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.5 | 17.6 | 8 of 28 | 74% |
| P/B | 1.2 | 1.2 | 14 of 25 | 46% |
| ROCE | 11.4 | 7.4 | 11 of 30 | 66% |
| ROE | 8.2 | 8.2 | 13 of 25 | 50% |
| Debt / Equity | 0.1 | 0.2 | 10 of 25 | 63% |
| EBITDA margin | 4.3 | 4.4 | 14 of 26 | 48% |
| Revenue growth | (70.5) | 5.0 | 24 of 25 | 4% |
| Profit growth | (63.7) | 27.1 | 19 of 23 | 18% |
| Market cap | 472 | 104 | 8 of 31 | 77% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 10 Oct 2026 · RTA confirms all shares held in demat form for Q2 FY26 | compliance | minimal | — | — |
| 3 Oct 2026 · KN Agri Resources files scrutinizer report for 39th AGM voting results | compliance | minimal | — | — |
| 30 Sept 2026 · KN Agri Resources files proceedings of 39th AGM held on September 30, 2026 | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading Window Closure for Q2 and H1 FY26 Results Period | compliance | minimal | — | — |
| 8 Sept 2026 · KN Agri publishes newspaper notice for 39th AGM and e-voting details | compliance | minimal | — | — |
| 7 Sept 2026 · KN Agri Resources 39th AGM notice on September 30, 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · KN Agri Resources Q1 FY27 results resubmitted with better PDF readability | compliance | minimal | — | — |
| 14 Aug 2026 · Board comments on NSE fine for compliance lapses | regulatory legal | high | — | — |
| 15 Jul 2026 · RTA confirms no share rematerialisation requests in Q1 FY27 | compliance | minimal | — | — |
| 27 Jun 2026 · Trading window closed from July 1 for Q1 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.