AVT Natural Products Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Marigold Oleo Resin: 39.9% • Instant & De-Caffeinated Tea: 24.3% • Spice Oleo Resin: 22.2%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Latest quarter profit grew 156.7% YoY, showing strong momentum
- Company has consistently been profitable over the last 5 years
- Company comfortably covers its interest (10.0x coverage)
- Company generates healthy free cash flow
- Company has a consistent dividend-paying track record
- Company maintains a comfortable, low leverage position
CONS
- Receivables are growing faster than sales - a possible quality concern
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.47x)
- Operating margins have contracted to 12.4% from 21.1%
- Company has delivered a poor profit growth of 7.4% over past five years
- Growth is decelerating - 3Y profit CAGR (-5.7%) trails the 5Y trend (7.4%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| KSCL | 718.65 | 14.81 | 3696.67 | 0.00 | 279.84 | -14.47 | 742.50 | -13.51 | 21.77 | 39.58 |
| VENKEYS | 1706.10 | 349.84 | 2403.44 | 0.59 | 49.99 | 215.79 | 1118.38 | 29.17 | 11.27 | 6.18 |
| AVTNPL | 90.85 | 16.51 | 1383.50 | 0.88 | 31.10 | 156.69 | 241.22 | 82.16 | 14.26 | 16.56 |
| BSHSL | 87.88 | 32.14 | 922.19 | 0.00 | 14.30 | 16.56 | 182.57 | 19.37 | 21.19 | 9.39 |
| REGAAL | 85.87 | 14.78 | 884.41 | 0.29 | 13.33 | 46.95 | 202.15 | -18.02 | 16.91 | 15.33 |
| MGEL | 16.01 | 11.17 | 527.62 | 0.06 | 84.26 | 1210.01 | 9520.65 | 1008.93 | 19.37 | 1.94 |
| NATHBIOGEN | 149.65 | 7.77 | 284.39 | 1.34 | 32.26 | -13.46 | 328.40 | 15.76 | 6.89 | 10.70 |
| MSL | 151.50 | 20.00 | 166.35 | 0.00 | 3.97 | 1.93 | 61.84 | 25.81 | 12.34 | 9.28 |
| INDOUS | 77.74 | 30.79 | 155.88 | 0.00 | 3.04 | -35.38 | 32.99 | 7.21 | 21.15 | 12.01 |
| OSWALSEEDS | 14.75 | 11.04 | 134.92 | 0.00 | 12.27 | 68.60 | 117.08 | 19.53 | 9.88 | 15.65 |
| NARMADA | 14.43 | 29.92 | 109.48 | 0.00 | 7.54 | — | 222.63 | — | 8.94 | 4.25 |
| AGRITECH | 98.60 | 0.00 | 58.57 | 0.00 | -3.61 | 61.18 | 0.00 | — | -0.94 | — |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 103 | 135 | 154 | 125 | 105 | 122 | 173 | 157 | 132 | 160 | 194 | 226 | 241 | |
| 92 | 119 | 118 | 109 | 97 | 114 | 143 | 132 | 117 | 145 | 171 | 191 | 207 | |
| Operating Profit | 11 | 17 | 36 | 16 | 8 | 8 | 30 | 25 | 16 | 15 | 23 | 36 | 35 |
| OPM % | 10.77% | 12.27% | 23.24% | 12.69% | 7.51% | 6.57% | 17.30% | 15.67% | 12.00% | 9.28% | 11.91% | 15.75% | 14.33% |
| 3 | 5 | -0 | 5 | 5 | 5 | 4 | 2 | 4 | 5 | 3 | 1 | 4 | |
| Interest | 1 | 2 | 2 | 2 | 1 | 2 | 3 | 3 | 2 | 2 | 2 | 3 | 2 |
| Depreciation | 3 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 | 3 | 3 |
| Profit before Tax | 10 | 16 | 30 | 15 | 8 | 8 | 28 | 20 | 15 | 16 | 22 | 30 | 39 |
| Tax % | 18.54% | 26.63% | 25.80% | 26.18% | 24.75% | 17.19% | 22.55% | 27.11% | 18.45% | 15.62% | 19.73% | 27.59% | 20.36% |
| Net Profit | 0 | 0 | 0 | 0 | 6 | 6 | 22 | 14 | 12 | 13 | 17 | 22 | 31 |
| 0.55 | 0.76 | 1.47 | 0.72 | 0.39 | 0.41 | 1.42 | 0.94 | 0.80 | 0.87 | 1.14 | 1.45 | 2.04 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 311 | 328 | 339 | 396 | 485 | 559 | 582 | 517 | 559 | 713 | 822 | |
| 269 | 295 | 297 | 339 | 414 | 454 | 461 | 438 | 486 | 624 | 714 | |
| Operating Profit | 42 | 33 | 42 | 57 | 71 | 105 | 121 | 79 | 73 | 90 | 108 |
| OPM % | 13.50% | 9.94% | 12.30% | 14.40% | 14.68% | 18.85% | 20.77% | 15.34% | 13.09% | 12.56% | 13.16% |
| 5 | 13 | 4 | 7 | 8 | 10 | 2 | 13 | 13 | 14 | 14 | |
| Interest | 2 | 3 | 5 | 6 | 4 | 5 | 5 | 7 | 9 | 9 | 10 |
| Depreciation | 7 | 7 | 11 | 14 | 15 | 14 | 13 | 14 | 14 | 11 | 12 |
| Profit before Tax | 38 | 36 | 30 | 45 | 61 | 97 | 105 | 71 | 63 | 83 | 107 |
| Tax % | 36.37% | 32.44% | 30.19% | 24.09% | 25.20% | 24.62% | 25.95% | 25.02% | 23.61% | 21.60% | 21.59% |
| Net Profit | 24 | 24 | 21 | 34 | 45 | 73 | 77 | 53 | 48 | 65 | 84 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 2.97 | 4.78 | 5.08 | 3.50 | 3.17 | 4.26 | — |
| Dividend Payout % | 24.91% | 25.16% | 29.22% | 26.87% | 23.54% | 20.90% | 19.68% | 22.86% | 22.10% | 18.80% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 10%
- 5 Years:
- 8%
- 3 Years:
- 7%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 12%
- 5 Years:
- 7%
- 3 Years:
- -6%
STOCK PRICE CAGR
- 10 Years:
- 12%
- 5 Years:
- 3%
- 3 Years:
- 5%
- 1 Year:
- 18%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 15%
- 3 Years:
- 11%
- Last Year:
- 12%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 209 | 223 | 236 | 260 | 295 | 354 | 415 | 454 | 491 | 544 | |
| 15 | 36 | 81 | 45 | 53 | 25 | 37 | 39 | 110 | 112 | |
| Trade Payables | 18 | 35 | 35 | 23 | 38 | 32 | 28 | 59 | 99 | 132 |
| 18 | 20 | 21 | 35 | 24 | 24 | 27 | 30 | 31 | 40 | |
| Total Liabilities | 275 | 330 | 389 | 378 | 426 | 449 | 522 | 598 | 747 | 843 |
| 57 | 56 | 98 | 99 | 89 | 82 | 78 | 82 | 72 | 81 | |
| Capital Work in Progress | 0 | 28 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 0 |
| 38 | 30 | 7 | 8 | 8 | 28 | 58 | 127 | 136 | 116 | |
| 93 | 94 | 144 | 123 | 164 | 183 | 212 | 221 | 294 | 321 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 110 | 156 | 240 | |
| Cash & Bank | 13 | 9 | 12 | 19 | 16 | 16 | 23 | 28 | 37 | 35 |
| 74 | 112 | 128 | 130 | 149 | 139 | 150 | 30 | 48 | 51 | |
| Total Assets | 275 | 330 | 389 | 378 | 426 | 449 | 522 | 598 | 747 | 843 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 28 | 26 | -21 | 84 | 23 | 100 | 78 | 99 | -32 | 12 | |
| Cash from Investing | -10 | -29 | 4 | -14 | -4 | -29 | -37 | -73 | -9 | 1 |
| Cash from Financing | -3 | 11 | 29 | -50 | -6 | -45 | -9 | -20 | 50 | -16 |
| 3 | -4 | 3 | 7 | -3 | 0 | 6 | 5 | 8 | -3 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-19 - AVT Natural Products Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 17, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-17 - AVT Natural Products Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 17, 2026
2026-08-14 - AVT Natural Products Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-08-14 - AVT Natural Products Limited has informed the Exchange about General Updates
2026-07-24 - AVT Natural Products Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on August 17, 2026
2026-07-10 - AVT Natural Products Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-26 - AVT Natural Products Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-23 - Neelamalai Agro Industries Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-06-22 - The Midland Rubber & Produce Company Ltd. has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
News
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