BSE: 519566
SIMRAN FARMS LTD.
Processes and sells meat products including poultry within India's fast-moving consumer goods sector. The cost structure is dominated by raw materials and consumables, with employee costs and other operating expenses making up most of the remaining spend, leaving a thin operating margin. The business model is asset-light on depreciation but working-capital intensive given the materials-heavy input profile, and capital expenditure is modest relative to revenue. The company consolidates Puregene Biotech Limited as a subsidiary, which contributed a small amount of revenue and profit on a consolidated basis in FY26. The company carries no debt on its books as of 31 March 2026 and is listed on the BSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Meat Products including Poultry, Subsidiary - Puregene Biotech Limited. Materials-heavy, thin-margin FMCG meat and poultry processing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 394 | 367 | 486 | 834 | 875 |
| EBITDA (ex other income) | 14 | 7 | 2 | 9 | 11 |
| margin % | 3.5 | 2.0 | 0.4 | 1.1 | 1.3 |
| Owners' profit | 10 | 4 | 0 | 6 | 5 |
| EPS, as reported (₹) | 27.14 | 9.44 | 1.01 | 15.55 | 13.33 |
| ROE % · ROCE % | 37.1 · 42.1 | 11.5 · 17.0 | 1.3 · 7.7 | 14.3 · 21.4 | 8.7 · 15.5 |
| Debt / equity (x) | 1.01 | 0.97 | 1.12 | 1.01 | 0.57 |
| Cash from operations | (2) | (7) | 8 | (11) | (7) |
| Capex | (3) | (4) | (1) | (2) | (2) |
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 | 175 | 245 | 238 | 205 | 188 | 233 | 249 | 214 |
| Profit before tax | 1 | 0 | (5) | 1 | 1 | 2 | 5 | 1 |
| Net profit | 0 | 0 | (3) | 1 | 0 | 1 | 3 | 1 |
| EPS (₹) | 0.62 | 0.36 | (8.46) | 2.01 | 0.93 | 3.01 | 7.40 | 1.74 |
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. % |
|---|---|---|---|---|---|---|---|---|
| VENKY S (INDIA) LIMITED | 2,221 | 12.8 | 1.39 | — | 8.4 | 11.1 | — | 7.4 |
| HMA AGRO INDUSTRIES LTD | 1,197 | 5.6 | 1.24 | 6.7 | 17.2 | 22.5 | — | 3.8 |
| SKM EGG PROD EXPORT(I) LT | 1,070 | 6.4 | 2.71 | 6.8 | 26.3 | 30.1 | 23.3 | 20.9 |
| OVOBEL FOODS LTD. | 273 | 7.0 | 2.48 | — | 22.1 | 29.0 | — | 27.4 |
| DSM Fresh Foods Limited | 110 | 7.5 | — | — | — | 18.4 | — | — |
| SIMRAN FARMS LTD. ◆ | 91 | 14.4 | 1.56 | 9.0 | 8.7 | 12.6 | 22.1 | 1.1 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 14.4 | 21.8 | 37 of 94 | 61% |
| P/B | 1.6 | 2.0 | 31 of 82 | 63% |
| ROCE | 12.6 | 11.5 | 48 of 104 | 54% |
| ROE | 8.7 | 9.5 | 48 of 84 | 43% |
| Debt / Equity | 0.6 | 0.3 | 60 of 83 | 28% |
| EBITDA margin | 1.1 | 8.3 | 70 of 83 | 16% |
| Revenue growth | 4.4 | 14.1 | 56 of 82 | 32% |
| Profit growth | 9.6 | 25.5 | 51 of 81 | 38% |
| Market cap | 91 | 125 | 65 of 108 | 40% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 5 Oct 2026 · Routine SEBI Reg 74(5) compliance certificate filed | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 for Q2 FY26 results | compliance | minimal | — | — |
| 25 Sept 2026 · Re-appointment of Whole Time Director and Independent Director confirmed at 39th AGM | management changes | medium | — | — |
| 25 Sept 2026 · All 6 resolutions passed at Simran Farms 39th AGM with over 99.99 percent approval | compliance | minimal | — | — |
| 2 Sept 2026 · Simran Farms 39th AGM on 24 Sep 2026 via video conferencing | compliance | minimal | — | — |
| 1 Sept 2026 · Letter to shareholders without registered email about 39th AGM and Annual Report | compliance | minimal | — | — |
| 1 Sept 2026 · Simran Farms 39th AGM on 24 Sep 2026 via VC; e-voting facility announced | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Simran Farms 39th AGM notice on Sep 24, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Notice of 39th AGM on September 24, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Notice of 39th AGM on 24 September 2026 via video conferencing | 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.