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1. At a Glance
Venky’s (India) runs three businesses: poultry, animal health products and oilseed processing. Revenue for the three months to June 2026 was ₹1,118.38 crore, against ₹865.83 crore a year earlier. That is a rise of 29.2 per cent. Profit after tax came to ₹49.99 crore, against ₹15.83 crore, a rise of 216 per cent. Earnings per share, which is profit divided by the number of shares, was ₹35.49.
The company’s own filing says it “performed well in all the three business segments” in the quarter. Per the company’s notes, improved volume and better realisation helped poultry despite higher feed prices. Animal Health Products posted higher volume and a better product mix, the company says. Oilseed ran on higher volume and cost optimisation, per the same notes.
The three months to March 2026 had produced profit of ₹101.37 crore on revenue of ₹1,100.47 crore. Revenue has since moved up by about ₹18 crore, while profit is roughly half that level. Poultry is a business where the product grows at its own pace and the price is set by whoever else also decided to grow some.
The year to March 2026 closed with revenue of ₹3,727.32 crore and profit of ₹139.25 crore. The year before showed ₹3,306.99 crore and ₹116.62 crore. Sitting inside the later year is a September 2025 quarter with an operating loss of ₹31.14 crore, which the annual figure absorbs the way a canteen absorbs a bad Tuesday. Market capitalisation is ₹2,210 crore. Promoter holding has read 56.11 per cent quarter after quarter for three years.
2. Introduction
Venky’s (India) Limited was incorporated in 1976 and belongs to the Pune-based VH Group. The group was established and promoted by Dr B V Rao, a Padma Shree awardee. Per CARE Ratings, a credit-rating agency, the group began with a small poultry farm in Hyderabad in 1971. CARE describes it today as one of the largest integrated poultry players in India, present in over 20 states.
“Integrated” is the word doing the heavy lifting. Per CARE, operations run from pure line farms rearing parent chicks through broiler breeding, hatcheries and layer birds. CARE also lists chicken processing, retail stores, feed mills and vaccines. Animal health products and solvent extraction sit in the same group. The only way to be sure about a chicken, apparently, is to be present at every stage of its existence, including the invention of its grandparents.
The second generation promotes and manages the company now, led by Chairperson Anuradha Desai. Per CARE, she has over four decades of experience within the company. She has also been chairperson of the National Egg Co-ordination Committee. VHPL, the group flagship, holds 51.02 per cent of Venky’s. CARE notes the group has a team of research scientists and around 350 veterinarian doctors. That is a payroll of poultry physicians large enough to staff a mid-sized hospital, for patients who cannot describe their symptoms.
From the filings: in March 2024 the company began commercial production at its Kesurdi unit in Satara. The plant makes veterinary medicines, 600 tonnes of powders and 300 kilolitres of liquids a year. In May 2025 the company announced a ₹70 crore expansion in specific pathogen-free eggs. It also announced a ₹16 crore ready-to-cook spices launch, targeted by the year to March 2027.
Per CARE, the company was sanctioned term debt of ₹52 crore in the year to March 2026. That stood against two capital spending programmes totalling ₹76.20 crore. One is ₹16.20 crore in the Foods Division for processed and frozen capability, including nuggets, cutlets and burger formats, and is complete. The other is ₹60 crore on the SPF platform, which CARE expects to start in phases across the years to March 2027 and March 2028.
The June 2026 quarter results were approved at a board meeting on 11 August 2026. The meeting began at 10:30 a.m. and concluded at 2:00 p.m. The auditor, Sudit K. Parekh & Co. LLP, issued an unmodified opinion on the quarterly financial results.
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3. Business Model: WTF Do They Even Do?
Three segments, and they are less related to one another than a single profit-and-loss account suggests.
Poultry and poultry products sells day-old broiler and layer chicks, and commercial broiler birds. It also sells specific pathogen-free eggs, which are eggs raised free of named diseases and used to make vaccines. Segment revenue in the three months to June 2026 was about ₹517 crore. Per management on the May 2026 call, the year to March 2026 produced 11.46 crore broiler day-old chicks and 4.57 crore layer chicks. Management put commercial broiler birds at 8.69 crore kg for the same year. Around 80 per cent of the broiler chicks go into the company’s own integration division, and the rest to the open market. Management says the internal transfer price was fixed at ₹28 a chick for the year. A business selling itself things at a price agreed in advance presumably avoids arguments at dinner.
SPF eggs are the strange, high-purity corner. Per CARE Ratings, the credit-rating
