NSE: SKMEGGPROD · BSE: 532143
SKM EGG PROD EXPORT(I) LT
Manufactures and exports egg powder and other dried egg products, with the bulk of operations being the conversion of shell eggs into egg powder for international food, confectionery and bakery buyers. In FY26 turnover reached ₹768 crore, with net profit of ₹103.89 crore and an EBITDA margin of 21.3%; the company exported 7,126 metric tons of egg products in the year. Operations run on an egg powder capacity of around 7,000 metric tons annually, with a plan to scale that to 10,000 metric tons over the next five years, while a ₹400 crore capex on environment-controlled (EC) sheds is set to double its own layer bird flock from 20 lakh to 40 lakh by FY28-29 — the EC sheds are delivering roughly 50 paise per egg savings versus conventional open sheds. Russia accounts for a steady ~150 tons of monthly exports, a Japan branch is being set up (delayed 1-2 months as of Q1 FY27), and 70-75% of the egg powder business is contractual. Alongside this, poultry feed ingredients are traded and a branded table-egg push has begun via the SKM Best Eggs acquisition, expected to add ₹40-50 crore of turnover in FY27. The largest cost line is materials at 60.8% of revenue, dominated by procured eggs and soya-based feed. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing and Selling of Egg based Products (96%), Poultry Feed Ingredients Trading (4%). Export-oriented, asset-heavy egg products manufacturer with backward integration into layer farming.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 302 | 662 | 701 | 498 | 768 |
| EBITDA (ex other income) | 16 | 125 | 123 | 58 | 164 |
| margin % | 5.3 | 18.9 | 17.5 | 11.6 | 21.3 |
| Owners' profit | 0 | 0 | 85 | 35 | 104 |
| EPS, as reported (₹) | 2.82 | 28.81 | 32.44 | 13.15 | 19.70 |
| ROE % · ROCE % | 6.2 · 10.7 | 39.0 · 49.8 | 30.8 · 36.1 | 11.4 · 15.5 | 26.3 · 32.6 |
| Debt / equity (x) | 0.64 | 0.49 | 0.53 | 0.49 | 0.36 |
| Cash from operations | 3 | 60 | 109 | 65 | 53 |
| Capex | (9) | (28) | (62) | (33) | (14) |
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 | 127 | 135 | 117 | 176 | 202 | 204 | 187 | 184 |
| Profit before tax | 13 | 10 | 10 | 22 | 33 | 40 | 42 | 32 |
| Net profit | 9 | 8 | 6 | 16 | 25 | 30 | 33 | 24 |
| EPS (₹) | 3.28 | 2.86 | 2.41 | 6.18 | 9.40 | 11.41 | 6.21 | 4.53 |
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) | 6.4 | 21.8 | 16 of 94 | 84% |
| P/B | 2.7 | 2.0 | 51 of 82 | 38% |
| ROCE | 30.1 | 11.5 | 8 of 104 | 93% |
| ROE | 26.3 | 9.5 | 8 of 84 | 92% |
| Debt / Equity | 0.4 | 0.3 | 48 of 83 | 43% |
| EBITDA margin | 20.9 | 8.3 | 8 of 83 | 92% |
| Revenue growth | 4.9 | 14.1 | 54 of 82 | 35% |
| Profit growth | 46.5 | 25.5 | 31 of 81 | 63% |
| Market cap | 1070 | 125 | 24 of 108 | 79% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Q2 call: feed costs pressure margins; expansion and growth plans outlined | investor communications | medium | — | — |
| 24 Oct 2026 · Recording of October 23 investor meeting available online | investor communications | low | — | — |
| 23 Oct 2026 · Q2 profit falls; board approves merger of wholly owned subsidiary | strategic transactions | medium | — | — |
| 15 Oct 2026 · SKM Egg Products Export announces schedule of board meeting | board shareholder meetings | low | — | — |
| 13 Oct 2026 · SKM Egg Products AGM minutes filed; dividend, capital and borrowing resolutions passed | board shareholder meetings | low | — | — |
| 12 Oct 2026 · Board meeting on Oct 23 to consider Q2 results and WoS amalgamation | strategic transactions | medium | — | — |
| 7 Oct 2026 · Routine compliance certificate for Q2 FY27 share dematerialisation | compliance | minimal | — | — |
| 24 Sept 2026 · Trading window closed from 1 Oct 2026 ahead of Q2 results | compliance | minimal | — | — |
| 18 Sept 2026 · SKM Egg Products AGM: All 8 resolutions approved, dividend declared | compliance | low | — | — |
| 18 Sept 2026 · 31st AGM held; final dividend of Rs 1.25 per share declared for FY26 | board shareholder meetings | low | — | — |
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 |
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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.