Proventus Agrocom Ltd(PROV)

NSE: PROV

₹ 1,899-0.05%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 656 crUpdated: 24 Oct 2026

About

Proventus Agrocom sells branded dry fruits and nutrition products under the ProV brand, through its subsidiary PFPL, which makes and sells dry fruit items. Reported revenue for FY26 was 924.99 Cr. ProV brand revenue was ₹659 Cr in FY26, up about 58% from ₹416 Cr in FY25.^[1][2][3]

Product mix

Wholesome Nutrition (makhana, seeds, bars, premium dry fruits) made up 48% of revenue in FY26, up from 42% in FY25. Core dry fruits such as almonds and cashews made up the rest (Core : Nutrition mix of 52:48 vs 58:42).^[3]
Management targets Wholesome Nutrition at 53% of revenue by FY27 and 58%+ by FY28.^[3]
In FY25 the ProV brand covered 7 verticals, from everyday to luxury, and sold 1.25 lakh Diwali gift boxes.^[4]
Product launches planned for FY26 included protein-rich trail mixes, functional bars, seasonal gifting packs and ProV minis.^[4]

Operations and capacity

The Mumbai facility had packaging capacity of 1.5 lakh pouches/day in FY26.^[3]
Phase 1 of the makhana processing plant in Purnia, Bihar (2,500 tonnes/year) is operational and buys makhana directly at source.^[3]
The company holds 98.75% of its subsidiary PFPL as of March 31, 2026. PFPL supplies raw materials and finished goods to the company.^[1]
As of FY25 the company had 67 permanent staff across group companies and 250 contractual employees.^[5]

Key operating numbers

Gross margin was 22.1% in FY26, up from 19.7% in FY25 (+240 bps). Management attributes the rise to the shift in mix.^[3]
Gross margin was 19.8% in FY25 vs 17.6% in FY24. Dry fruit raw material prices rose about 25% after Diwali, and the company says it has passed the increase on.^[4]
ProV brand volume was 202 cr+ pouches in FY25, and on-time-in-full delivery was 97%.^[4]
Marketing spend was ~₹75 Cr in FY26, vs ₹30 Cr in FY25 and ₹14 Cr in FY24.^[3]
The sales force was 350 people in FY26, vs 200 in FY25 and 80 in FY24.^[3]

Distribution

General trade touchpoints across India reached 16,000+ in FY26. Retail outlets numbered 15,000+ in FY25.^[3][4]
Modern trade made up 46% of revenue in FY25, and e-commerce grew 32% that year. Quick commerce launched on Zepto and Flipkart Minutes in FY25.^[4]
Management targets quick commerce at 10%+ of revenue.^[3]

Expansion and capex

The Surat, Gujarat plant (2,00,000 sq.ft., 4 lakh+ pouches/day) is under construction. Commissioning has moved from end-FY26 to H1 FY27.^[3][4]
The FY28 brand revenue target was raised to ₹1,100 Cr from ₹1,000 Cr. The roadmap implies ₹850 Cr for FY27.^[3]
Management expects gross margin of ~27% in FY27 and ~30% by FY28.^[3]

Recent developments

Whole-time director Shalin Khanna resigned for personal reasons, as disclosed on the Q4 FY25 call. He remains a significant shareholder.^[4]
FY26 EBITDA was ₹19.8 Cr, just under management's committed floor of ₹20 Cr.^[3]

Market Cap

₹656 Cr

High / Low

₹2,050 / 1,020

Stock P/E

46.4

Price / Book

4.8

Book Value

₹418

EPS

₹41.0

No. of Shares

0.35 Cr

ROCE

11.5%

ROE

10.3%

OPM

2.0%

Debt / Equity

0.19

Sales

₹925 Cr

Net Profit

₹14 Cr

Promoter holding

67.2%

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