NSE: VENKEYS · BSE: 523261
VENKY S (INDIA) LIMITED
Operates three businesses that feed into Indian poultry, livestock and food markets: broiler and layer poultry, oilseeds, and animal health products (AHP). In FY26, Poultry and Poultry Products was the largest segment at ₹1,896.75 crore (49.4% of period segment revenue), followed by Oilseeds at ₹1,554.14 crore (40.4%) and Animal Health Products at ₹391.64 crore (10.2%). The poultry business produced and sold 8.69 crore kg of commercial broiler, 4.57 crore layer chicks and 11.46 crore broiler chicks in FY26, with Q4 FY26 broiler realizations of ₹102.67/kg and day-old chicks at ₹51.32. Animal Health Products delivered segment EBIT of ₹98.99 crore on ₹391.64 crore of FY26 revenue, with Q4 EBIT margins running around 29% on roughly ₹100 crore of quarterly revenue, making it the most profitable segment by margin. Oilseeds ran at 65-70% capacity utilisation in Q4 FY26 with Q4 EBIT margins around 5.3%. Materials — feed (maize/soya) for poultry and seed/raw material for oilseeds — accounted for 67.6% of FY26 revenue, with feed cost averaging ₹31,658/ton for the year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Poultry and Poultry Products (49%), Oilseeds (40%), Animal Health Products (10%). Vertically integrated, commodity-exposed poultry and oilseed processor with a higher-margin animal health products business sitting alongside.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,400 | 4,234 | 3,738 | 3,307 | 3,727 |
| EBITDA (ex other income) | 244 | 112 | 123 | 172 | 192 |
| margin % | 5.6 | 2.6 | 3.3 | 5.2 | 5.2 |
| Owners' profit | 165 | 70 | 79 | 115 | 135 |
| EPS, as reported (₹) | 116.97 | 50.03 | 56.13 | 82.78 | 98.85 |
| ROE % · ROCE % | 13.2 · 18.7 | 5.4 · 8.4 | 5.8 · 8.9 | 7.8 · 11.6 | 8.4 · 12.1 |
| Debt / equity (x) | 0.15 | 0.14 | 0.12 | 0.11 | 0.10 |
| Cash from operations | 5 | 86 | 82 | 66 | 191 |
| Capex | (30) | (42) | (50) | (46) | (41) |
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 | 774 | 882 | 843 | 866 | 801 | 960 | 1,100 | 1,118 |
| Profit before tax | 11 | 28 | 23 | 22 | (35) | 66 | 133 | 69 |
| Net profit | 8 | 20 | 12 | 16 | (27) | — | 97 | 50 |
| EPS (₹) | 5.51 | 14.47 | 9.44 | 11.24 | (18.83) | 34.48 | 71.96 | 35.49 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Poultry and Poultry Prodcts | 552 | 19.4 |
| Animal Health Products | 294 | 10.3 |
| Oilseeds | 477 | 16.7 |
| Poultry and Poultry products | 843 | 29.6 |
| Oilseed | 687 | 24.1 |
| Total, before eliminations | 2,853 | 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. % |
|---|---|---|---|---|---|---|---|---|
| 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.8 | 21.8 | 34 of 94 | 63% |
| P/B | 1.4 | 2.0 | 28 of 82 | 65% |
| ROCE | 11.1 | 11.5 | 53 of 104 | 50% |
| ROE | 8.4 | 9.5 | 50 of 84 | 41% |
| Debt / Equity | 0.1 | 0.3 | 26 of 83 | 70% |
| EBITDA margin | 7.4 | 8.3 | 47 of 83 | 44% |
| Revenue growth | 29.2 | 14.1 | 28 of 82 | 67% |
| Profit growth | 215.8 | 25.5 | 14 of 81 | 84% |
| Market cap | 2221 | 125 | 22 of 108 | 80% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board meeting set for audited September 2026 results | results | low | — | — |
| 29 Sept 2026 · 50th AGM: Rs 10 dividend declared, 4 resolutions approved | board shareholder meetings | medium | — | — |
| 7 Sept 2026 · Venky's India submits 50th Annual Report for FY 2025-26 | results | medium | — | — |
| 2 Sept 2026 · Venky's India clarifies no undisclosed info amid volume surge | compliance | minimal | — | — |
| 1 Sept 2026 · Clarification on BSE volume movement query | regulatory legal | medium | — | — |
| 1 Sept 2026 · BSE seeks clarification from Venkys India on volume movement | compliance | low | — | — |
| 1 Sept 2026 · Record date set for dividend eligibility, AGM on 29 Sep 2026 | corporate actions | high | — | — |
| 1 Sept 2026 · 50th AGM on 29 Sep 2026; record date 11 Sep for dividend | board shareholder meetings | low | — | — |
| 31 Aug 2026 · NSE seeks clarification from Venky's on unusual trading volume | regulatory legal | high | — | — |
| 11 Aug 2026 · Venky's Q1 FY27 Results: Revenue Rs 1,118 Cr, PAT Rs 49.99 Cr | compliance | 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 |
| 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.