Avanti Feeds Q4 FY26: Revenue Rises 6%, Profit Falls

Key takeaways from the Q4 print

Avanti Feeds Ltd. reported a mixed set of numbers for Q4 FY26, with revenue growth but weaker profitability. For the quarter ended March 31, 2026, the company posted total income of ₹1,467.72 crore, up 6.21% year-on-year (YoY). Operating profit came in at ₹136.71 crore, down 15.84% YoY, while profit after tax (PAT) was reported at ₹124.46 crore, down 18.06% YoY.

Operating margin for the quarter stood at 9.31%, with the company’s margin profile deteriorating on a YoY basis. Alongside the quarterly numbers, Avanti Feeds also published audited standalone and consolidated results for the full year ended March 31, 2026, with auditors issuing an unmodified opinion.

When the results were announced

Avanti Feeds declared its Q4 FY26 results around May 28-29, 2026, according to the disclosures and summaries provided. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026.

The company also outlined several accounting and governance updates alongside the financial statements, including audit status, provisions, and senior management changes.

Q4 FY26 consolidated performance: revenue up, margins down

On the top line, Avanti Feeds reported revenue from operations of ₹1,467.72 crore in Q4 FY26, a 6.21% YoY rise versus ₹1,381.95 crore in Q4 FY25, and a 6.09% sequential increase versus ₹1,383.52 crore in Q3 FY26. The company also reported total revenue (including discontinuing operations) at ₹1,516.20 crore for Q4 FY26.

Profitability, however, weakened. Profit before tax (from continuing operations) was reported at ₹183.05 crore for Q4 FY26, down 13.49% YoY, and down 17.62% quarter-on-quarter (QoQ). Net profit figures varied across the quarter’s line items: net income was reported at ₹125.11 crore in the quarterly comparison table, while net profit (from continuing and discontinued operations) was reported at ₹138.86 crore.

The company attributed the decline in quarterly profitability to higher input costs, as stated in the summary notes accompanying the results.

Cost lines and operating metrics for the quarter

Expense intensity rose during the quarter. Total operating expense was ₹1,331.01 crore in Q4 FY26, up 9.14% YoY and 8.80% QoQ, based on the quarterly table. Selling, general and administrative expenses were reported at ₹79.09 crore, up 17.66% YoY and 21.34% QoQ.

Operating income was ₹136.71 crore in Q4 FY26, down 14.63% QoQ in the quarterly series. Depreciation and amortization stood at ₹15.05 crore. Diluted normalized EPS was reported at ₹9.86 for the quarter, down 11.56% YoY.

Separate performance metrics also disclosed EBITDA of ₹160 crore in Q4 FY26 versus ₹177 crore a year ago, with EBITDA margin at 11.20% versus 12.76% in the comparable quarter.

Summary table: Q4 FY26 at a glance (all ₹ crore)

FY26 results: strong full-year growth despite Q4 pressure

For the full financial year ended March 31, 2026, Avanti Feeds reported consolidated revenue from operations of ₹6,065.86 crore, up 8.34% YoY versus ₹5,598.69 crore in FY25. Total revenue (including discontinuing operations) was reported at ₹6,278.89 crore, up 8.90% YoY.

Full-year consolidated net profit (from continuing and discontinued operations) was ₹656.80 crore in FY26 versus ₹557.05 crore in FY25, reflecting 17.91% YoY growth as provided in the summary. Profit before tax (from continuing operations) was ₹880.27 crore for FY26, up 19.40% YoY. Consolidated EPS for FY26 was reported at ₹44.48, up from ₹38.81.

FY26 vs FY25: headline comparison (all ₹ crore)

Dividend, impairment, and labour code provision

Avanti Feeds’ Board recommended a final dividend of ₹10 per equity share, subject to shareholder approval at the upcoming AGM scheduled for August 14, 2026.

The company also disclosed an exceptional impairment loss of ₹12.97 crore on its investment in an associate, Patikari Power Private Limited, linked to plant damage from a cloudburst in July 2025. Additionally, it recognised an incremental provision of ₹10.90 crore due to the implementation of new labour codes effective November 21, 2025.

Management update and audit status

A senior finance leadership change was also disclosed. Mrs. B. Santhi Latha was appointed as Chief Financial Officer (CFO) effective June 1, 2026, succeeding Mr. C. Ramachandra Rao, who continues as Joint Managing Director and Company Secretary.

The statutory auditors issued an unmodified opinion on the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, as stated in the company’s summary.

Market impact: what the numbers indicate

The Q4 FY26 set shows a clear split between revenue momentum and profitability pressure. Revenue growth of about 6% YoY was accompanied by weaker operating profit and a contraction in operating margin, alongside commentary pointing to higher input costs. The quarterly cost line also suggests pressure from higher operating expenses and rising SG&A.

At the same time, the FY26 numbers show stronger full-year growth in revenue, profit before tax, and net profit, indicating that Q4 profitability compression did not prevent the company from delivering higher annual earnings versus FY25.

Company contact details (as provided)

Avanti Feeds Ltd. Flat No 103, Ground Floor, R Square, Pandurangapuram, Vishakapatnam, Andhra Pradesh - 530003 Tel: 91-040-23310260/23310261

Conclusion

Avanti Feeds’ Q4 FY26 results showed steady revenue growth but weaker margins and lower quarterly profits, with higher input costs cited as a key driver. For FY26, the company reported higher consolidated revenue and net profit, alongside a proposed ₹10 final dividend and an unmodified audit opinion. The company’s AGM is scheduled for August 14, 2026, where the dividend recommendation is set to be considered.