KRBL Ltd(KRBL)

NSE: KRBLBSE: 530813

₹ 349.7-1.37%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 8,004 crWebsite: www.krblrice.comUpdated: 24 Oct 2026

About

KRBL Ltd is India's largest basmati rice company, operating under the India Gate brand, with FY26 revenue of ₹6,097.86 cr split between an Agri segment (96.3% of revenue) and an Energy segment (3.7%). It sells branded packaged rice across domestic retail channels and exports primarily to the Middle East, holding the #1 market position in packaged basmati across general trade, modern trade, and e-commerce.^[1][2]

Business segments

Agri segment revenue was ₹6,087.9 cr (96.3% of total) in FY26, vs ₹5,572.23 cr in FY25.^[2][3]
Energy segment revenue was ₹234.47 cr (3.7% of total) in FY26, vs ₹204.44 cr in FY25.^[2][3]
Domestic revenue (ex-power) reached ₹4,444 cr (+10% YoY) in FY26; export revenue reached ₹1,555 cr (+6% YoY) in FY26.^[4]

Products and brands

Core brand India Gate covers branded basmati rice across consumer and bulk packs; branded non-basmati (regional rice) reached ₹271 cr in FY26, up 38% YoY.^[4]
Uplife is the health and wellness sub-brand, covering brown rice, basmati brown rice, Low GI Everyday Rice and edible oil; edible oil sales reached ₹9 cr in 9M FY26.^[5]
India Gate Classic Masala Meal Mixes launched in Q4 FY26 with four variants (Kashmiri Dum Aloo, Patiala Paneer Tikka, Purani Dilli Butter Chicken, Chettinad Chicken).^[4]
India Gate Light & Fluffy Poha launched in June 2026 across 22 cities in North India; masala portfolio annualised revenue run rate reached ~₹9 cr at Q1 FY27 exit.^[6]

Operations and capacity

Kandla (Gujarat) non-basmati plant had been operational for more than 1.5 years as of Q2 FY26, running at 20 MT/hr.^[7]
Mariyalghoda (Andhra Pradesh) non-basmati plant being set up at 10,000 - 15,000 MT/annum (as of Q2 FY26).^[7]
Barota (Panipat): ~50 acres of the Samalkha land parcel retained for packaging and warehousing expansion, with ~₹100 cr investment planned (Q3 FY26).^[5]
Ghaziabad plant (~110 acres, current value ~₹2,500 cr) earmarked for monetisation over 2 - 3 years by relocating the plant; post-development land value estimated at ~₹4,000 cr (Q2 FY26).^[7]

Key operating numbers

Domestic branded rice volume grew +8% YoY in FY26 and +3% YoY in Q1 FY27; domestic rice realisation grew +11% YoY in Q1 FY27.^[4]
Basmati branded domestic realisation was ₹79,000 - 80,000/MT and basmati export realisation ₹1,38,500 - 1,39,000/MT in Q4 FY26.^[4]
E-commerce primary sales grew ~50% YoY in Q1 FY27; quick commerce contributed ~3/4 of e-commerce business as of H1 FY26.^[6]
Regional branded rice grew 25% YoY in Q1 FY27, on a base of ~₹270 cr in FY26.^[6]
Organised trade fill rate was ~90% in Q1 FY27.^[6]

Customers and distribution

#1 packaged basmati brand across channels: general trade 37% (MAT June '26), modern trade 38% (MAT June '26), e-commerce 41% (June '26 exit).^[6]
Distribution reach was 3.3 lakh retail outlets in Q1 FY27, vs 3.4 lakh in Q4 FY26 and 3.2 lakh in Q3 FY26.^[6]
Middle East represents ~3/4 of basmati trade; export revenue fell ~50% YoY to ₹244 cr in Q1 FY27, while non-Middle East exports grew 37%.^[6]
Saudi Arabia served via wholesalers; process to open a local office initiated, with a long-term target of ~1.5 lakh MT over 3 - 4 years (Q3 FY26).^[5]
Traditional trade market share declined ~2 percentage points YoY in Q1 FY27 amid elevated competitive intensity.^[6]

Expansion and capex

Acquired ~125 acres in Samalkha, Panipat for ₹403 cr via NCLT auction in Q2 FY26; ~50 - 60 acres to be sold and ~50 acres retained for Barota expansion.^[7]
Real estate investment target of up to ₹1,000 cr over the next few years via NCLT/court land auctions (Q2 FY26).^[7]
Non-basmati branded revenue target raised from ~₹200 cr to ~₹500 cr within 2 - 3 years as South India plants come online (Q2 FY26).^[7]
Uplife brand targeted to scale to ₹200 - 300 cr across health and wellness categories over the next few years (Q2 FY26).^[7]

Recent developments

Strait of Hormuz closure (effective 28 Feb 2026) disrupted Middle East shipping, cutting Q1 FY27 export revenue ~50% YoY; management expects progressive recovery from Q2 FY27.^[6]
Project Akshat commercial transformation programme launched in Q2 FY26, targeting 500 bps market share gain over 18 - 24 months and 15 - 20% ROAS improvement in e-commerce.^[7]
Net bank borrowings (including treasury investments) were -₹789 cr as of 31 March 2026, vs -₹405 cr a year earlier.^[4]

Market Cap

₹8,004 Cr

High / Low

₹452 / 275

Stock P/E

10.6

Price / Book

1.4

Book Value

₹254

EPS

₹28.3

No. of Shares

22.89 Cr

ROCE

15.2%

ROE

11.7%

OPM

14.3%

Debt / Equity

0.03

Sales

₹6,098 Cr

Net Profit

₹648 Cr

Promoter holding

60.2%

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KRBL Ltd(KRBL)

About

Business segments

Products and brands

Operations and capacity

Key operating numbers

Customers and distribution

Expansion and capex

Recent developments

Signal history

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