Patanjali Foods (PATANJALI) Q3 25/26 earnings summary

Executive summary

• Achieved record quarterly revenue in Q3 FY26, with INR 10,483.71 crore, up 16.53% YoY and 7.23% sequentially.

• Nine-month revenue reached INR 29,013.98 crore, also a record high.

• FMCG segment delivered strong growth, contributing 30.68% to Q3 revenue and 66.33% of EBITDA, with segment revenue up 38.93% YoY.

• Q3 marked by GST 2.0 reforms, temporary trade disruptions, and festive season demand boost.

• Rural consumption outperformed urban for the seventh straight quarter, but urban demand rebounded strongly.

Financial highlights

• Q3 FY26 EBITDA (excluding exceptional items) was INR 492.06 crore, margin 4.69%.

• Q3 profit before tax: INR 364.54 crore, PBT margin 3.46%.

• Exceptional item: Labour Code impact of INR 30.19 crore in Q3.

• Nine-month EBITDA (excluding exceptional items): INR 1,429.56 crore, margin 4.93%.

• Q3 gross profit: INR 1,421.32 crore, gross margin 13.56%.

Outlook and guidance

• Expects stronger volume recovery ahead, with GST rate reductions benefiting future quarters.

• Urban demand projected to strengthen, aided by easing inflation and tax reforms.

• Food business targeted to grow 8%-10% annually, HPC at 15%, edible oil at 3%-4% in volume.

• Margin guidance: food business 8%-10% EBITDA, HPC to reach 20%+ EBITDA, edible oil 2%-4%.

• Rural demand to remain robust due to positive Kharif output and welfare schemes.