PATANJALI · Fast Moving Consumer Goods
Patanjali Foods Ltd. reported revenue of ₹9,692 cr for January to March 2025, +17.8% on the year and +7.7% on the quarter. It is the highest quarterly revenue in the last 8 quarters on record. Over the last four quarters revenue comes to ₹33,968 cr, +7.1% on the four before.
Operating profit (EBITDA) was ₹516 cr, a margin of 5.3%, +74 bps on the year and −88 bps on the quarter. Over the last 8 quarters the margin has ranged from 2.2% to 6.2%, averaging 4.9%. Operating costs grew +16.9% against revenue growth of +17.8%, so more of each rupee of sales reached operating profit.
Net profit was ₹359 cr, +74.3% on the year and −3.2% on the quarter, with earnings per share of ₹3.30. Profit before other income, one-offs and tax grew faster, at +125.0%; other income, one-offs or tax held the headline back. The tax rate was 22% against an average of 27% over the previous 7 quarters, which lifted profit this quarter. Profit over the last four quarters totals ₹1,302 cr, +70.0% on the four before.
On earnings per share of ₹11.99 over the last four quarters, the stock at ₹367.00 trades at 30.6 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Core profit grew faster than reported profit: one-offs held the headline down.
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Q2 FY24 | Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹7,822 cr | ₹7,911 cr | ₹8,228 cr | ₹7,177 cr | ₹8,102 cr | ₹8,997 cr | ₹9,692 cr | ₹8,766 cr | ₹9,777 cr | ₹10,484 cr | ₹11,156 cr | ₹11,337 cr |
| YoY | — | — | — | −8% | +4% | +14% | +18% | +22% | +21% | +17% | +15% | +29% |
| EBITDA margin | 5.0% | 4.3% | 4.6% | 5.7% | 5.7% | 6.2% | 5.3% | 3.7% | 5.6% | 4.1% | 4.0% | 4.8% |
| Other income, % of PBT | 7% | 15% | 40% | 7% | 7% | 5% | 12% | 5% | 10% | 7% | −47% | 1% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 24% | 29% | 31% | 27% | 26% | 24% | 22% | 27% | −2% | — | — | 26% |
| Net profit | ₹255 cr | ₹217 cr | ₹206 cr | ₹263 cr | ₹309 cr | ₹371 cr | ₹359 cr | ₹180 cr | ₹517 cr | ₹594 cr | ₹524 cr | ₹336 cr |
| YoY | — | — | — | +199% | +21% | +71% | +74% | −32% | +67% | +60% | +46% | +87% |
| Core profit YoY | — | — | — | +334% | +24% | +80% | +125% | −29% | +18% | −28% | −14% | +90% |
| EPS | ₹2.34 | ₹1.99 | ₹1.90 | ₹2.42 | ₹2.85 | ₹3.42 | ₹3.30 | ₹1.66 | ₹4.75 | ₹5.46 | ₹4.82 | ₹3.09 |
| Flags | · | · | 1 | ✓ | ✓ | ✓ | ✓ | ✓ | 2 | 3 | 2 | 1 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Patanjali Foods Ltd. reported revenue of ₹9,692 cr (+17.8% on the year) and net profit of ₹359 cr (+74.3% on the year) for January to March 2025.
Profit before other income, exceptional items and tax moved +125.0% on the year, against +74.3% for reported profit.
None of the 7 checks that could run raised a question.
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