Patanjali Foods Limited reported its Q3 FY26 results, achieving the highest ever revenue from operations of ₹10,483.71 crores, marking a 16.53% YoY growth. The FMCG segment was a major driver, posting 38.93% YoY revenue growth. Management expressed optimism regarding sustained demand recovery, especially following GST 2.0 reforms, anticipating stronger volume growth across categories in upcoming quarters.
Patanjali Foods Q3 FY26 Financial Snapshot
Patanjali Foods Limited announced its financial results for the third quarter of FY26 (ending December 2025), highlighting significant growth across key segments. The company achieved its highest ever revenue from operations for the quarter, totaling ₹10,483.71 crores, representing a year-on-year growth of 16.53%. Standalone performance metrics included a total EBITDA (excluding exceptional items) of ₹492.06 crores, yielding a margin of 4.69%. Profit Before Tax (PBT) stood at ₹364.54 crores.
For the first nine months of FY26, reported revenue from operations reached ₹29,013.98 crores. The total EBITDA for this period, excluding exceptional items, was ₹1,429.56 crores, with a margin of 4.93%. PBT for the nine months was ₹1,118.24 crores.
Operating Environment and Outlook
The quarter was characterized as a period of transition influenced by the GST 2.0 reforms, which caused temporary trade disruptions in September and October due to repricing and packaging adjustments. By November, inventory levels stabilized. On the cost front, palm oil prices declined by 12.6% YoY. Management anticipates a stronger volume recovery ahead as the positive effects of GST rate reductions become more evident.
Demand remains robust, with rural consumption outperforming urban demand for the seventh straight quarter, although urban rebound is now strengthening. The outlook for the end of FY26 is strong, supported by improving affordability and wider distribution, shifting consumption from unbranded to branded products.
Segmental Performance Deep Dive
Edible Oils
The edible oil segment recorded quarterly revenue of ₹7,335.71 crores, growing 8.98% YoY, with an EBITDA margin of 2.39%. Branded oils like Ruchi Gold, Mahakosh, and Sunrich continue to be primary growth drivers. For the nine months, segment revenue grew 16.55% YoY.
Oil Palm Plantation
Segmental revenue for the quarter stood at ₹418 crores (read as ₹416.23 crores) with a margin of 22.47%. The total area under cultivation reached 1,08,000 hectares, with nearly 39% in prime yield years (7 to 25 years). Management announced a target to add close to 40,000 additional hectares in the ’26-27 period.
FMCG Segment
The FMCG segment demonstrated exceptional growth, with quarterly revenue surging by 38.93% YoY to ₹3,248 crores and achieving an EBITDA margin of 10.88%. This segment contributed 30.68% of total revenues and nearly 66.33% of total EBITDA in Q3 FY26.
- Biscuits: Revenue grew 26.4% YoY to ₹490 crores. Growth was noted as entirely volume-driven, primarily due to grammage increases for GST benefits.
- Staples: Revenue grew an impressive 68.70% YoY to ₹1,255 crores, driven by strong festive and winter demand for ghee.
- HPC (Home & Personal Care): Total revenue was ₹627 crores, led by dental care at ₹339.27 crores. New variants across shampoos, soaps, and creams were launched, receiving encouraging consumer response.
Management Guidance and Strategy
Long-term growth guidance for the food space (Staples and Ethnic Foods) is set between 8% to 10%, with a target EBITDA margin of 8% to 10%. For the HPC business, management is targeting a 15% growth rate overall, with margins significantly improved to nearly 25% EBITDA in this quarter, surpassing initial 18-month targets.
Distribution remains a core strength, expanding to over 2 million retail outlets, with intensified efforts across e-commerce platforms like Zepto and Amazon. Management confirmed that contracts for all five brand ambassadors are active, with Mr. Dhoni signed for an additional 2 years.
Source: BSE
