Other Agricultural Products industry

82 companies · ₹53,736 cr · 21 with AI deep dives · Q1FY27 report

Hormuz closure halves basmati export volumes; inventory windfalls lift margins managements call unsustainable

Turning upmargin troughed at 8.4% and has risen for 7 quarters to 14.5%, on positive revenue growth

Revenue YoY: +14.2%
EBITDA margin: 14.5%; +280bps YoY
Price, 1 year: -7.1%; 23% of names up
P/E vs own 5y: +5.5%; 18.5x now

Exhibit 1The quarter in numbers

constant panel of 11 companies above ₹500 cr

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

Metric	Jun 26	Mar 26	QoQ	Jun 25	YoY	Peak	vs peak
Revenue	9,979 cr	9,156 cr	+9.0%	8,738 cr	+14.2%	9,979 cr	0.0%
EBITDA margin	14.5%	10.0%	+450bps	11.7%	+280bps	14.5%	0bps

Revenue

Jun 26: 9,979 cr
Mar 26: 9,156 cr
QoQ: +9.0%
Jun 25: 8,738 cr
YoY: +14.2%
Peak: 9,979 cr
vs peak: 0.0%

EBITDA margin

Jun 26: 14.5%
Mar 26: 10.0%
QoQ: +450bps
Jun 25: 11.7%

Sept 26: 3 of 14 reported so far, so it is not in the trend above.

Breadth: 77% of 13 companies grew revenue year on year (was 91% a quarter earlier) and 92% expanded margin (was 64%).

Exhibit 2What it costs

15.14x - 23.49x across the panel today

The median name trades at 18.5x, +5.5% against this industry's own 5-year median of 17.5x, and -21.2% against its own peak of 23.5x.

Exhibit 3Structure

₹53,736 cr

L T Foods Ltd is 24.6% of this industry by market cap. The top 5 are 66.3% and the top 10 are 81.8%.

mid 1small 9micro 7214 above ₹500 cr

Exhibit 4Screen

P/E below the sub-industry median of 18.52x, 5y ROCE above its median of 10.15%, 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 82)

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
L T Foods Ltd	₹13,199 cr	20.6x	11.5x	17.6%	10.6%	+27.9%	Unlock
KRBL Ltd	₹8,004 cr

Exhibit 6What managements said

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

headwindStrait of Hormuz shipping disruption collapses basmati export volumes to Middle East4 managements

The partial closure of Middle East shipping lanes since 28 February 2026 is the single largest near-term headwind for rice exporters. KRBL's exports fell ~50% YoY as Middle East…

KRBL (Q1FY27): “Container rates from the west coast of India to the Middle East rose more than tenfold…”

mixed3 managements headwind3 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 57 companies

1-30

sort: mcap · composite · name

Company	Mcap	P/E	EV/EBITDA	ROCE	Margin	Rev YoY	Read
Sarveshwar Foods Ltd	₹424 cr	12.7x	9.5x	10.4%	4.9%	+18.8%	Unlock