NSE: PATANJALI · BSE: 500368
PATANJALI FOODS LIMITED
Turns crude edible oils into branded packaged oils and a range of packaged consumer goods, with a small wind power generation arm. Edible oils are the largest line by far, while the FMCG line is materially more profitable per rupee of revenue. Wind turbine power generation is a marginal contributor and is currently loss-making. Raw materials dominate the cost stack, with employees at 1.6%, other operating expenses at 7.1%, and depreciation at 0.6% of revenue. The company sells packaged foods to Indian retail consumers via standard FMCG channels. ICRA upgraded its long-term credit rating to AA- (Stable) in July 2026 with total bank facilities of Rs 4,425 crore. Capex was 2.4% of revenue in FY26, and the company declared a Rs 1.75 per share second interim dividend alongside a 2:1 bonus issue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Edible oils (72%), FMCG (28%), Wind turbine power generation (0%). Branded FMCG with a large low-margin edible oils base and a higher-margin FMCG overlay
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 34,157 | 40,170 |
| EBITDA (ex other income) | 1,946 | 1,554 |
| margin % | 5.7 | 3.9 |
| Owners' profit | 1,301 | 0 |
| EPS, as reported (₹) | 35.94 | 16.68 |
| ROE % · ROCE % | 11.4 · 15.9 | 13.9 · 11.3 |
| Debt / equity (x) | 0.07 | 0.21 |
| Cash from operations | 299 | (333) |
| Capex | (144) | (974) |
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 | 8,154 | 9,103 | 9,692 | 8,900 | 9,799 | 10,484 | 11,156 | 11,337 |
| Profit before tax | 417 | 491 | 458 | 249 | 505 | 364 | 236 | 453 |
| Net profit | 309 | 371 | 359 | 180 | 517 | 593 | 524 | 336 |
| EPS (₹) | 8.53 | 10.24 | 9.91 | 4.98 | 4.75 | 5.46 | 4.82 | 3.09 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Edible oils | 21,982 | 54.0 |
| FMCG | 5,805 | 14.3 |
| Wind turbine power generation | 18 | 0.0 |
| Edible Oils | 7,336 | 18.0 |
| Food & Other FMCG | 4,909 | 12.1 |
| Wind Turbine Power Generation | 16 | 0.0 |
| Home & Personal Care | 639 | 1.6 |
| Total, before eliminations | 40,704 | 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 | 1,00,900 | 53.2 | 22.45 | 39.8 | 40.3 | 38.1 | 11.1 | 21.9 |
| PATANJALI FOODS LIMITED ◆ | 37,853 | 19.2 | 2.89 | 23.1 | 13.9 | 10.3 | — | 4.8 |
| AWL AGRI BUSINESS LIMITED | 22,724 | 19.7 | 2.18 | 8.7 | 10.0 | 11.1 | — | 3.8 |
| GOKUL AGRO RESOURCES LTD | 6,138 | 11.8 | 4.31 | 9.2 | 26.0 | 26.9 | 23.5 | 4.1 |
| CIAN Agro Ind & Infra Ltd | 2,430 | 7.5 | 1.09 | 6.9 | 10.0 | 7.7 | 53.1 | 32.3 |
| SUNDROP BRANDS LIMITED | 2,413 | 86.5 | 1.63 | 38.5 | 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) | 19.2 | 17.8 | 15 of 28 | 48% |
| P/B | 2.9 | 1.2 | 21 of 25 | 17% |
| ROCE | 10.3 | 7.4 | 14 of 30 | 55% |
| ROE | 13.9 | 8.2 | 8 of 25 | 71% |
| Debt / Equity | 0.2 | 0.2 | 13 of 25 | 50% |
| EBITDA margin | 4.8 | 4.4 | 12 of 26 | 56% |
| Revenue growth | 27.4 | 5.0 | 5 of 25 | 83% |
| Profit growth | 86.2 | 27.1 | 7 of 23 | 73% |
| Market cap | 37853 | 108 | 2 of 31 | 97% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Food regulator orders cow ghee batch recall; company to appeal | regulatory legal | high | — | — |
| 23 Oct 2026 · Cow ghee batch recalled over safety standard breach; company appeals | regulatory legal | high | — | — |
| 16 Oct 2026 · Newspaper ad for special window to re-lodge physical share transfer requests | compliance | minimal | — | — |
| 14 Oct 2026 · Patanjali Foods gets Crisil ESG rating of 59, Core ESG rating of 66 | business updates | medium | — | — |
| 6 Oct 2026 · RTA certificate for dematerialization of shares for July to September 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · Patanjali Foods AGM 2026 results: all 11 resolutions passed | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Patanjali Foods 40th AGM: All 11 resolutions passed, including Rs 5 total dividend | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Patanjali Foods 40th AGM: 11 resolutions moved including FY26 dividend approval | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closed from Oct 1, 2026 till 48 hours after Q2 results | compliance | minimal | — | — |
| 21 Sept 2026 · Food safety order on Sunrich Sunflower Oil batch in Thiruvananthapuram | regulatory legal | high | — | — |
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.