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1. At a Glance
Venky’s (India) reported revenue of ₹1,118.38 Cr for the quarter ended 30 June 2026, against ₹865.83 Cr in the same quarter last year — a 29.2% increase. PAT came in at ₹49.99 Cr versus ₹15.83 Cr, up 216%. EPS was ₹35.49.
The company describes the quarter in its own filing with the restraint of a man reporting that his house is, on balance, still standing: for Q1 FY27, it “performed well in all the three business segments.” Improved volume and better realisation helped the poultry segment despite higher feed prices, per the company’s notes. Animal Health Products posted higher volume and a better product mix. Oilseed ran on higher volume and cost optimisation.
Sequentially, the March 2026 quarter had delivered PAT of ₹101.37 Cr on revenue of ₹1,100.47 Cr — so revenue moved up ₹18 Cr while profit went the other way by half. Poultry, being a business where the product grows at its own pace and the price is set by whoever else also decided to grow some, does this.
The full year FY26 closed at revenue of ₹3,727.32 Cr and PAT of ₹139.25 Cr, against ₹3,306.99 Cr and ₹116.62 Cr in FY25. Sitting inside that year is a September 2025 quarter with an operating loss of ₹31.14 Cr, which the annual number politely absorbs the way a company canteen absorbs a bad Tuesday.
The market cap is ₹2,210 Cr. Promoter holding has not moved a basis point in three years: 56.11%, quarter after quarter, like a signature stamp.
2. Introduction
Venky’s (India) Limited was incorporated in 1976 and is part of the Pune-based VH Group, which was established and promoted by Padma Shree awardee Dr B V Rao. Per CARE Ratings, the group has grown from its first poultry business in 1971 — a small farm in Hyderabad — to one of the largest integrated poultry players in India, with a presence in over 20 states.
The word doing heavy lifting there is “integrated.” Per CARE, the group’s operations run from pure line farms rearing parent chicks, through broiler breeding, hatcheries, layer birds, chicken processing, retail stores, feed mills, vaccines, animal health products and solvent extraction. That is a company that has decided the only way to be sure about a chicken is to be present at every stage of its existence, including inventing its grandparents.
VIL is promoted and currently managed by the second generation, led by Chairperson Anuradha Desai, who per CARE has over four decades of experience within the company and has been chairperson of the National Egg Co-ordination Committee. VHPL, the group flagship, holds 51.02% in VIL. The rating agency notes the group has a team of research scientists and around 350 veterinarian doctors — a payroll of poultry physicians large enough to staff a mid-sized hospital, for patients who cannot describe their symptoms.
Recent corporate history from the filings: in March 2024 the company commenced commercial production at its Kesurdi, Satara unit for veterinary medicines — 600 tonnes per annum of powders and 300 kilolitres of liquids. In May 2025 it announced a ₹70 Cr SPF eggs expansion and a ₹16 Cr ready-to-cook spices launch, targeted by FY 2026-27. Per CARE, in FY26 the company was sanctioned term debt of ₹52 Cr against two capex programmes totalling ₹76.20 Cr — ₹16.20 Cr in the Foods Division for processed and frozen capability including nuggets, cutlets and burger formats, since completed, and ₹60 Cr on the SPF platform expected to commence operations in phases across FY27 and FY28.
Q1 FY27 results were approved at a board meeting on 11 August 2026 that 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 each other than you would expect from a single P&L.
Poultry and poultry products produces and sells day-old broiler and layer chicks, commercial broiler birds, and specific pathogen-free (SPF) eggs. Q1 FY27 segment revenue: ₹51,689 lakh, or roughly ₹517 Cr. Per management on the May 2026 call, FY26 volumes were 11.46 crore broiler day-old chicks, 4.57 crore layer chicks, and 8.69 crore kg of commercial broiler birds. Around 80% of the broiler chicks go into the company’s own integration division and 20% to the open market, with internal transfer priced at a fixed ₹28 per chick for the year — a business selling itself things at a price it agreed on in advance, presumably to avoid arguments at dinner.
SPF eggs are the strange, high-purity corner: eggs raised free of specified pathogens, used in vaccine manufacture. Per CARE, VIL is one of the largest producers of SPF eggs in Asia. Management disclosed annual capacity of 1.88 crore eggs, FY26 production of about 1 crore, utilisation of 48% against 45% in FY25, and FY26 realisation of ₹80.22 per egg. Eighty rupees. Per egg.
Animal Health Products manufactures veterinary medicines and poultry feed supplements — ₹11,357 lakh of
