Edible Oil industry

40 companies · ₹1.8 L cr · 6 with AI deep dives · Q1FY27 report

Broad margin recovery driven by volume, not price - but input cost re-inflation threatens to reverse it in Q2

Mid cyclemargin range-bound near 6.0%

Revenue YoY: +19.2%
EBITDA margin: 6.0%; +140bps YoY
Price, 1 year: -20.7%; 43% of names up
P/E vs own 5y: -40.1%; 19.5x now

Exhibit 1The quarter in numbers

constant panel of 6 companies above ₹500 cr

aggregate revenue (₹ cr)EBITDA margin (right axis)

Metric	Jun 26	Mar 26	QoQ	Jun 25	YoY	Peak	vs peak
Revenue	41,739 cr	43,197 cr	-3.4%	35,025 cr	+19.2%	43,197 cr	-3.4%
EBITDA margin	6.0%	4.2%	+180bps	4.6%	+140bps	6.1%	-10bps

Revenue

Jun 26: 41,739 cr
Mar 26: 43,197 cr
QoQ: -3.4%
Jun 25: 35,025 cr
YoY: +19.2%
Peak: 43,197 cr
vs peak: -3.4%

EBITDA margin

Jun 26: 6.0%
Mar 26: 4.2%
QoQ: +180bps
Jun 25: 4.6%

Sept 26: 0 of 7 reported so far, so it is not in the trend above.

Breadth: 100% of 6 companies grew revenue year on year (was 100% a quarter earlier) and 100% expanded margin (was 50%).

Exhibit 2What it costs

16.56x - 48.16x across the panel today

The median name trades at 19.5x, -40.1% against this industry's own 5-year median of 32.5x, and -71.8% against its own peak of 69.1x.

Exhibit 3Structure

₹1.8 L cr

Marico Ltd is 56.6% of this industry by market cap. The top 5 are 95.8% and the top 10 are 98.7%.

large 1mid 2small 4micro 337 above ₹500 cr

Exhibit 4Screen

P/E below the sub-industry median of 19.46x, 5y ROCE above its median of 8.29%, and at least 2 growth triggers stated on the latest earnings call.

Which names clear this screen is premium

The screen runs on stated growth triggers from the latest earnings calls - the same guidance data the stock screener reserves for premium. Premium names every company in this industry that is cheap against its own median and has the triggers behind it.

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Exhibit 5Coverage (25 of 40)

Every company here with a deep dive, topped up by market cap. The rest of the industry is in the appendix.

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Marico Ltd	₹1.0 L cr	53.3x	39.9x	40.0%	17.1%	+21.4%	Unlock
Patanjali Foods Ltd	₹38,193 cr

Exhibit 6What managements said

from this industry's latest earnings calls · as of 2026-06-30

mixedMargin expansion broad-based in Q1 FY27, but cost re-inflation queues up for Q24 managements

All four reporting companies posted YoY EBITDA margin expansion in Q1 FY27 - Marico +40 bps gross, Sundrop +110 bps gross, Gokul Agro +115 bps EBITDA, AWL Food & FMCG at 6% vs 8Q…

MARICO (Q1FY27): “On both these items [LP and HDPE], the cost increase has been anywhere in the range of…”

tailwind3 managements tailwind4 managements

Exhibit 7Outlook

The outlook and what resolves next quarter

Where these managements said things are heading, and the dated, checkable events that would change it. Free with an account - 3 full reports a quarter.

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AppendixThe other 15 companies

1-15

sort: mcap · composite · name

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Poona Dal & Oil Industries Ltd	₹31 cr	22.0x	12.5x	3.5%	0.5%	+1.7%	Unlock