Venkys (India) Ltd (VENKEYS)

Fast Moving Consumer Goods · FMCG · NSE · Updated 2 September 2026

By StockFin Research Team • AI-Assisted Analysis • Source: BSE/NSE Filings

₹1,647.1 ↑ 10.04% (1Y)

🎯 Key Takeaways

Venkys (India) Ltd is in a stable growth phase, leveraging its core poultry and animal health segments to deliver consistent profitability amid input cost volatility. Management is focused on margin resilience and strategic capital allocation, with no signs of distress or aggressive expansion.
Revenue declined 1.2% QoQ to ₹70 in Q4FY03.
⚠️ Raw material cost volatility, particularly feed prices, poses a direct threat to poultry margins, which management expects to compress from 29% to 22-

Market Cap

₹2,320

P/B Ratio

1.57

Debt/Equity

0.11

Promoter

56.1%

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📖 The Story

Venkys (India) Ltd is in a stable growth phase, leveraging its core poultry and animal health segments to deliver consistent profitability amid input cost volatility. Management is focused on margin resilience and strategic capital allocation, with no signs of distress or aggressive expansion. The company maintains strong governance and a disciplined financial profile, positioning it as a mature, cash-generating business with incremental growth potential in niche segments.

📰 What's Happening

In the Q1 FY27 filing dated August 11, 2026, Venkys reported revenue of ₹1,118.38 crores and PAT of ₹49.99 crores, up from ₹139.25 crores in FY26, reflecting robust segmental performance despite higher feed costs. The Board approved these audited results following a 3.5-hour meeting, highlighting ₹8,925 lakhs profit before tax and ₹1,05,260 lakhs total expenses. Management emphasized stable margins in poultry (14%) and strong growth in Animal Health (15-20%), while targeting 80%+ capacity utilization in oilseed processing. Volume growth of 5% in layers and 4-5% in broiler chicks was noted, with soybean meal exports targeting 33%. A share buyback and demerger of the Animal Health business were suggested as value-accretive moves amid industry maturity.

Source: Stock Announcements

📊 Quarterly Results (₹ Cr)

Metric	Mar 2002	Mar 2003
Revenue	71	70
Operating Profit	5	-1
OPM %	6.7%	-1.5%
Net Profit	4	-1
EPS	₹0.00	₹0.00

Profitability has improved significantly, with PAT rising to ₹49.99 crores in Q1 FY27 from ₹139.25 crores in the full FY26, indicating strong quarterly momentum. Despite rising feed costs, margins held firm due to operational efficiency and pricing discipline. The company has consistently generated operating cash flow (₹66 crores in FY25), supporting stable financing and capital decisions. Balance sheet trends show modest growth in reserves and controlled debt (D/E of 0.11), reflecting conservative leverage. These trends align with management’s narrative of resilient segment performance and sustainable profitability under cost pressure.

🔮 Management Outlook & What's Next

Management expects Q1 FY27 margins to persist in the near term, with EBIT margins projected to compress from 29% to 22-23% in subsequent quarters due to raw material cost pressures. They highlighted 15-20% growth in the Animal Health segment, supported by new products and therapeutic units, and targeted 80%+ capacity utilization in oil processing. Volume growth of 5% in layers and 4-5% in broiler chicks was reaffirmed, along with a 33% export target for soybean meal. Strategic moves like a potential share buyback and demerger of Animal Health were suggested as value-enhancing measures amid stable demand and industry maturity.

Extracted from official company announcements. Not StockFin.ai's opinion.

🏦 Balance Sheet (₹ Cr)

Item	Mar 2025	Mar 2025	Mar 2026	Mar 2026
Equity Capital	14	14	14	14
Reserves	1,429	1,461	1,437	1,582
Borrowings	159	165	181	167
Total Liabilities	2,037	2,070	2,108	2,309
Fixed Assets	596	645	625	636
Investments	96	122	107	213
Total Assets	2,037	2,070	2,108	2,309

The balance sheet reflects a stable and conservative capital structure, with equity remaining flat at ₹14 crores and reserves growing from ₹1,437 to ₹1,582 crores between FY26 and FY27, indicating retained earnings. Borrowings increased slightly to ₹181 crores from ₹167 crores, but remain low relative to equity, resulting in a healthy D/E ratio of 0.11. Total assets grew to ₹2,309 crores, driven by operational scale. This suggests disciplined reinvestment and low financial risk, with ample capacity to fund operations or strategic initiatives without leverage escalation.

💰 Cash Flow Statement (₹ Cr)

Item	Mar 2025
Operating	+66
Investing	-38
Financing	-30
Net Cash Flow	-2

👥 Shareholding Pattern

Category	Q2FY26	Q3FY26	Q4FY26	Q1FY27
Promoters	56.1%	56.1%	56.1%	56.1%
FII	1.3%	1.4%	1.1%	1.3%
DII	0.1%	0.1%	0.1%	0.1%
Public	31.8%	31.8%	32.8%	33.1%
# Shareholders	55,096	53,747	54,117	52,179

Promoter holding remains stable at 56.11% over the past four quarters, indicating confidence in long-term prospects. FII ownership rose slightly to 1.27% in Q1FY27 from 1.14% in Q4FY26, while DII increased marginally to 0.13%. Public shareholding grew to 33.06%, and the number of shareholders expanded to 52,179, suggesting growing retail interest. No pledging or significant dilution was observed, and the broadening shareholder base supports liquidity and governance transparency.

⚖️ Peer Comparison — FMCG

Company	MCap (₹ Cr)	P/E	ROCE	ROE	D/E
HINDUNILVR	4.69 L Cr	31.3	29.8%	30.7%	0.00
ITC	3.34 L Cr	16.8	36.0%	27.8%	0.03
NESTLEIND	2.78 L Cr	73.0	99.2%	73.9%	0.00
VBL	1.37 L Cr	40.6	21.5%	17.4%	0.10
BRITANNIA	1.25 L Cr	47.9	54.1%	51.1%	0.27
LENSKART	1.15 L Cr	173.3	11.9%	7.7%	0.03
MARICO	1.09 L Cr	57.3	54.2%	46.4%	0.08
TATACONSUM	1.02 L Cr	62.2	10.2%	8.0%	0.10
GODREJCP	92,112	48.1	17.8%	15.1%	0.33
DABUR	68,173	34.6	21.3%	17.1%	0.09

🔗 Peer Stock Analyses

HINDUNILVR ITC NESTLEIND VBL BRITANNIA

⚠️ Risk Factors

1. Raw material cost volatility, particularly feed prices, poses a direct threat to poultry margins, which management expects to compress from 29% to 22-23% in coming quarters. 2. The Animal Health segment, while growing at 15-20%, contributes a smaller revenue base and depends on new product adoption and regulatory approvals. 3. Low FII/DII participation (collectively under 2%) limits institutional confidence and may affect liquidity. 4. Overreliance on poultry volumes in a price-sensitive market could constrain margin expansion if demand softens or competition intensifies.

📋 Recent Filings

🧠 Analyst's Read

Venkys demonstrates resilient execution in a challenging input environment, with steady profitability and strategic focus on high-margin segments. The key watchpoint is margin sustainability amid feed cost pressures, while the Animal Health and oilseed segments offer steady growth. With stable promoter holding and improving retail investor base, the company remains a stable, cash-generative FMCG player with incremental upside — provided cost control holds.

Based on filing content and financial data. Not a recommendation.

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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-02.

Editorial & Data Transparency Notice

This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.

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