KRBL Q4 FY26 results: Revenue ₹1,526cr, PAT ₹155cr

Key takeaway from KRBL’s March 2026 quarter

KRBL Limited ended Q4 FY26 (March 2026 quarter) with steady revenue growth and broadly stable profitability, even as exports weakened. Consolidated revenue from operations rose 6% year on year to ₹1,526 crore. EBITDA came in at ₹237 crore with a 15.5% margin, while profit after tax (PAT) was ₹155 crore with a 10.1% margin. The quarter’s movement was driven by a change in mix rather than a sharp jump in overall demand. Domestic sales accelerated, but exports fell sharply due to weakness in the Middle East region. KRBL also reported that net profit for Q4 FY26 increased 0.76% year on year to ₹155.38 crore, while it declined 8.58% on a quarter-on-quarter basis.

How the quarter unfolded: domestic gains offset export drag

Q4 revenue growth was led by India business execution. Domestic revenue in the quarter was ₹1,230 crore, up 22% year on year, supported by 16% rice volume growth and 5% improvement in rice realizations. Export revenue, however, fell to ₹279 crore, down 33%, with the company citing lower exports to the Middle East region. This shift changed KRBL’s revenue composition compared with Q4 FY25. In Q4 FY25, exports contributed ₹415 crore out of total revenue of ₹1,442 crore, while in Q4 FY26 exports were ₹279 crore out of ₹1,526 crore. Power revenue remained small at ₹17 crore.

Profitability snapshot: margins steady, not expanding

Profitability in Q4 FY26 held up despite a softer gross margin. Gross profit was ₹453 crore, marginally below ₹458 crore in Q4 FY25, and gross margin declined to 29.6% from 31.5%. EBITDA improved slightly to ₹237 crore from ₹235 crore, although EBITDA margin slipped to 15.5% from 16.2%. PAT was ₹155 crore, essentially flat versus ₹154 crore, and PAT margin eased to 10.1%. Finance costs were low at ₹4 crore in Q4. KRBL also flagged that margins were influenced by higher cost of goods sold and lower other income, while lower other expenses helped offset part of the pressure.

FY26 stood out as a margin recovery year

While Q4 was about mix stability, FY26 numbers showed a clearer profitability improvement. Revenue rose 9% to ₹6,098 crore from ₹5,594 crore. EBITDA increased to ₹973 crore from ₹736 crore, with EBITDA margin improving to 15.8% from 13.0%. PAT rose to ₹648 crore from ₹476 crore, and PAT margin improved to 10.5% from 8.4%. Gross profit increased to ₹1,747 crore from ₹1,441 crore, and gross margin expanded to 28.3% from 25.5%. Management attributed the full-year gross margin expansion mainly to lower average basmati cost of goods sold and higher other income.

Balance sheet: net cash position highlighted

KRBL ended FY26 with a sizable liquidity buffer. The company reported cash and bank balance of ₹919 crore and net bank borrowings of -₹789 crore at year end, indicating net cash. Net worth increased to ₹5,806 crore. The company also reported cash profit of ₹739 crore in FY26 compared with ₹557 crore, and linked the improvement to working capital discipline, including lower inventory and tighter working capital. Earlier in the year, KRBL reported (for Q3 FY26) cash and bank balance of ₹488 crore, net worth of ₹5,653 crore, and net bank borrowings of -₹388 crore.

Corporate actions and disclosures investors tracked

KRBL disclosed an earnings conference call schedule under Regulation 30 (LODR) for audited financial results of Q4 and the year ended March, dated 08 May 2026 (01:25 PM). Separately, KRBL informed the BSE that a board meeting was scheduled on 14/05/2026 to consider and approve audited financial results (standalone and consolidated) for Q4 and FY ended March 31, 2026, and to consider dividend recommendation, if any. The company had also declared a dividend of ₹3.50 on 17 Sep, 2025.

Stock and fundamentals: what the latest snapshot shows

A fundamentals snapshot cited market cap of ₹7,756 crore, earnings (TTM) of ₹648 crore, and revenue (TTM) of ₹6,168 crore. The same dataset showed EPS of 28.31, gross margin of 28.33%, net profit margin of 10.51%, and debt/equity ratio of 2.2%. Another data point in the provided information listed reported EPS of 26.63 (estimated EPS not available). Returns data cited that earnings grew 36.1% over the past year, and that KRBL matched the Indian Food industry return of 4.1% while exceeding the Indian market return of -1.2%.

Market impact: what changed quarter-to-quarter

The most visible operational change in Q4 FY26 was the export slowdown against a strong domestic quarter. Investors typically track this mix closely in basmati rice due to regional demand sensitivity, and KRBL explicitly cited the Middle East as the weak spot. Despite a lower gross margin, EBITDA and PAT stayed broadly flat, supported by lower other expenses and low finance cost. The reported net cash position (net bank borrowings of -₹789 crore) also framed KRBL as less dependent on incremental borrowing through the cycle. For context, KRBL’s Q3 FY26 snapshot also showed export pressure, with international revenue of ₹357 crore and a YoY decline of -37% attributed to geopolitical tensions.

Results table: Q4 FY26 vs Q4 FY25 and FY26 vs FY25

Revenue mix table: domestic vs export shift in Q4

Why this update matters for investors

KRBL’s Q4 FY26 reinforced two separate signals. First, domestic momentum can offset export volatility when distribution and realizations improve, as shown by the 22% domestic revenue growth in the quarter. Second, FY26 margins improved faster than revenue, with EBITDA margin rising to 15.8% and PAT margin to 10.5%, which the company linked to basmati cost dynamics and other income. The balance sheet data points to stronger financial flexibility, supported by net cash and higher net worth. Near term, the key sensitivity highlighted in the data is the export exposure to the Middle East and the broader geopolitical backdrop mentioned in Q3 disclosures.

Conclusion

KRBL closed Q4 FY26 with revenue of ₹1,526 crore and PAT of about ₹155 crore, as domestic performance compensated for a steep export decline. FY26 delivered a clearer margin recovery, with PAT rising to ₹648 crore and improved operating margins. The next set of confirmed steps for investors to track are the company’s audited results process and the board’s consideration of dividend, as flagged in its May 2026 exchange disclosures.