JK Agri Genetics Ltd (536493)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, JK Agri's revenue was ₹84.3 Cr (-8.3% year on year, +267.3% on the previous quarter), and net profit ₹10.9 Cr (-11.5% year on year); the operating margin was 18.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹84.3 | -8.3% | +267.3% |
| Operating profit | ₹15.2 | -14.8% | from loss |
| Net profit | ₹10.9 | -11.5% | from loss |
| EPS (₹) | 23.44 | -11.5% | from loss |
| Operating margin | 18.0% | — | — |
📢 Recent Corporate Announcements
JK Agri Genetics has moved the Telangana High Court under Section 11 of the Arbitration and Conciliation Act to appoint an arbitrator for recovering ₹67.74 lakh from Agro Deal. The dispute originates from the Kharif 2018 procurement of Paddy Variety JKRH-333 seeds worth ₹9.51 crore gross (₹4.62 crore net), where Agro Deal paid ₹3.94 crore up to August 2023 but defaulted on the remaining balance. The company filed the application following an unresolved legal demand notice dated May 25, 2026, and the matter was listed on October 8, 2026. Given the claim is just ~0.43% of TTM revenue (₹158 crore), the direct financial impact on the company is minimal.
- Disputed balance of ₹67.74 lakh remaining from an original net receivable of ₹4.62 crore (gross seeds procurement of ₹9.51 crore).
- Agro Deal made part payments totaling ₹3.94 crore, with the last payment received in the first week of August 2023.
- Arbitration application filed in the High Court of Telangana under Section 11(5) and 11(6), listed on October 8, 2026.
- The claim size represents approximately 0.43% of JK Agri Genetics' TTM revenue of ₹158 crore.
JK Agri Genetics Ltd received an order from the 12th Additional Chief Judge, City Civil Court, Secunderabad, dismissing its recovery suit against Bajaj Allianz General Insurance Co. Ltd. The dispute pertains to a ₹0.43 crore claim (plus interest) for cumin seeds damaged in transit back in 2014 under a Marine Turnover Policy. The suit was originally filed in 2018 after the insurer rejected the claim. The company stated it plans to contest the dismissal before an appropriate higher court based on legal counsel advice.
- Recovery suit for ₹0.43 crore (excluding interest) dismissed by 12th Additional Chief Judge, City Civil Court, Secunderabad.
- The claim pertains to transit damage of cumin seeds incurred in 2014 under a Marine Turnover Policy with Bajaj Allianz.
- Original suit filed in 2018 after rejection and a 2017 legal notice; final arguments concluded in December 2025.
- Order dated 17th July 2026 was received by the company on 31st August 2026, and the company intends to appeal.
JK Agri Genetics Ltd has announced the appointment of Ms. Varsha Singh as the Company Secretary and Compliance Officer, effective from August 12, 2026. She succeeds Mr. Anoop Singh Gusain and will be authorized to determine the materiality of events for stock exchange disclosures. This is a routine administrative change for the company, which currently has a market capitalization of Rs 144 Cr and a TTM revenue of Rs 158 Cr. The company continues to face financial pressure with a TTM PAT of Rs -7 Cr.
- Appointment of Ms. Varsha Singh as Company Secretary effective August 12, 2026
- Authorized 3 key personnel for determining materiality of events: President & Director, CFO, and CS
- Company reported TTM revenue of Rs 158 Cr and a net loss of Rs 7 Cr
- Promoter holding remains stable at 73.11% as of March 2026
JK Agri Genetics Ltd has announced a transition in its Key Managerial Personnel (KMP). Mr. Anoop Singh Gusain will step down as Company Secretary and Compliance Officer on August 11, 2026, to facilitate an internal transfer within the JK Group. Ms. Varsha Singh, a qualified Company Secretary with 3 years of experience, has been appointed to the role effective August 12, 2026. This is a routine administrative change and does not impact the company's financial position or its Rs 158 Cr TTM revenue.
- Cessation of Mr. Anoop Singh Gusain as Company Secretary and KMP effective August 11, 2026.
- Appointment of Ms. Varsha Singh as Company Secretary and Compliance Officer effective August 12, 2026.
- Ms. Varsha Singh brings 3 years of professional experience in the secretarial and compliance domain.
- The Board meeting for approval commenced at 3:15 P.M. and concluded at 4:50 P.M. on July 31, 2026.
JK Agri Genetics reported a 8.3% YoY decline in revenue to Rs 84.33 Cr for the quarter ended June 30, 2026. Net profit for the period stood at Rs 10.87 Cr, down 11.5% from Rs 12.28 Cr in the same quarter last year. The company specifically cited El-Nino conditions as a factor impacting current quarter operations. As a seasonal business, this Q1 revenue represents approximately 53% of the total TTM revenue, highlighting the quarter's critical importance to annual performance.
- Revenue from operations decreased to Rs 84.33 Cr from Rs 91.93 Cr in the year-ago quarter.
- Net profit declined to Rs 10.87 Cr compared to Rs 12.28 Cr in June 2025.
- Finance costs saw a significant reduction of 42%, falling to Rs 0.67 Cr from Rs 1.16 Cr YoY.
- Earnings Per Share (EPS) for the quarter was Rs 23.44, down from Rs 26.49 YoY.
- The company noted that El-Nino conditions adversely impacted the quarter's agricultural operations.
JK Agri Genetics reported a contraction in its Q1 FY27 performance, with revenue from operations declining 8.3% YoY to ₹84.33 Cr. Net profit for the quarter fell 11.5% to ₹10.87 Cr compared to ₹12.28 Cr in the previous year's corresponding quarter. The company attributed the decline partly to El-Nino conditions impacting seasonal operations. Auditors continue to highlight a significant legal dispute involving ₹19.46 Cr in receivables and deposits from Rajasthan State Seeds Corporation, which represents nearly 19% of the company's net worth.
- Revenue from operations decreased to ₹84.33 Cr in Q1 FY27 from ₹91.93 Cr in Q1 FY26.
- Net profit after tax stood at ₹10.87 Cr, down from ₹12.28 Cr in the year-ago period.
- Earnings Per Share (EPS) declined to ₹23.44 from ₹26.49 YoY.
- Finance costs saw a reduction to ₹0.67 Cr from ₹1.16 Cr in the previous year's quarter.
- Legal dispute involves ₹18.24 Cr in overdue trade receivables and ₹1.22 Cr in security deposits from RSSC.
JK Agri Genetics has scheduled a board meeting for July 31, 2026, to consider and approve its unaudited financial results for the quarter ended June 30, 2026. This is a critical reporting period for the company, as the June quarter is historically its strongest due to the Kharif sowing season; in June 2025, the company generated Rs 91.93 Cr in revenue, representing over 56% of its total FY25 turnover. Investors will be looking for a turnaround as the company has reported net losses in the three most recent quarters (Sep 2025, Dec 2025, and Mar 2026). The trading window for designated persons remains closed until August 3, 2026.
- Board meeting scheduled for July 31, 2026, to approve Q1 FY27 results.
- Trading window closed from July 1, 2026, and will re-open on August 3, 2026.
- June quarter is seasonally significant, having contributed Rs 91.93 Cr revenue in the previous year.
- Company seeking to reverse a trend of three consecutive loss-making quarters (TTM PAT is Rs -7 Cr).
JK Agri Genetics Ltd has released its FY 2025-26 Annual Report, highlighting a consolidated net loss of ₹717.47 Lacs, a significant increase from the ₹250.44 Lacs loss reported in the previous year. The company's net assets declined by approximately 6.6% to ₹10,035.81 Lacs. A key agenda for the upcoming 26th AGM on July 31, 2026, is the re-appointment of Shri Kuldeep Kumar Pandit as Whole-time Director for a three-year term starting November 2026. Additionally, the company noted that JK Agri Research Services Ltd ceased to be an associate effective March 5, 2026.
- Consolidated net loss widened to ₹717.47 Lacs in FY26 from ₹250.44 Lacs in FY25
- Net assets decreased to ₹10,035.81 Lacs as of March 31, 2026, from ₹10,748.05 Lacs in the previous year
- Proposed re-appointment of Kuldeep Kumar Pandit as President & Director for a 3-year term starting Nov 24, 2026
- JK Agri Research Services Ltd ceased to be an associate company on March 5, 2026
- AGM scheduled for July 31, 2026, with a voting cut-off date of July 24, 2026
JK Agri Genetics has scheduled its 26th Annual General Meeting for July 31, 2026, to adopt the FY26 financial results and seek approval for management changes. The company reported a consolidated net loss of ₹717.47 Lacs for FY26, a significant increase from the ₹250.44 Lacs loss reported in FY25. A special resolution is proposed to re-appoint Kuldeep Kumar Pandit as Whole-time Director for a three-year term starting November 24, 2026. Additionally, the company noted that JK Agri Research Services Ltd ceased to be an associate effective March 5, 2026.
- Consolidated net loss widened by 186% to ₹717.47 Lacs in FY26 compared to ₹250.44 Lacs in FY25.
- Consolidated net assets declined to ₹10,035.81 Lacs from ₹10,748.05 Lacs in the previous year.
- Proposed re-appointment of Kuldeep Kumar Pandit as Whole-time Director for 3 years effective November 24, 2026.
- JK Agri Research Services Ltd ceased to be an associate company on March 5, 2026.
- Remote e-voting for AGM resolutions is scheduled from July 28 to July 30, 2026, with a cut-off date of July 24.
Financial Performance
Revenue Growth by Segment
Total operating income declined by 26.29% from INR 200.92 Cr in FY23 to INR 148.10 Cr in FY24. Field crops revenue fell by 19% in FY24 (following a 16% decline in FY23), while vegetable seed revenue dropped by 48% in FY24 (following a 33% decline in FY23). Institutional orders saw a significant 60% reduction in FY23.
Geographic Revenue Split
The company operates a pan-India distribution network across 28 states. While specific regional percentages are not disclosed, production is concentrated in Andhra Pradesh and Telangana, and the company maintains 18 Carry & Forward agents nationwide.
Profitability Margins
Profitability has been severely impacted, with PAT margins falling to -14.05% in FY24 (INR -20.82 Cr loss) from -5.37% in FY23 (INR -10.80 Cr loss). H1FY25 reported a PAT of INR -4.74 Cr on revenue of INR 108.20 Cr.
EBITDA Margin
PBILDT was negative at INR -25.23 Cr in FY24 compared to INR -8.32 Cr in FY23. H1FY25 PBILDT remained negative at INR -3.00 Cr. The decline is attributed to lower sales volumes in high-margin vegetable crops like hot pepper and okra.
Capital Expenditure
The company has planned capex of INR 11-12 Cr for FY25, dedicated to R&D, the construction of a research laboratory, and the procurement of laboratory equipment, funded through internal cash and liquid investments.
Credit Rating & Borrowing
Long-term bank facilities are rated CARE A-; Negative (reaffirmed January 2025). The company faces debt and interest repayments of ~INR 15 Cr in FY25 and INR 12-13 Cr annually in FY26 and FY27.
Operational Drivers
Raw Materials
The primary raw materials are seeds for crops including Cotton, Paddy, Maize, Jowar, Bajra, and various vegetables, sourced directly from producing farmers.
Import Sources
Raw materials are primarily sourced domestically from production centers in Andhra Pradesh, Telangana, and other Indian states.
Key Suppliers
Procurement is conducted through a network of individual and contract producing farmers across major agricultural states.
Capacity Expansion
Current expansion focuses on R&D infrastructure, including a new research laboratory and biotech facilities at Dundigal, Telangana, to support the launch of new hybrid varieties.
Raw Material Costs
Procurement costs are highly sensitive to commodity price fluctuations; a rise in commodity prices increases farmer expectations for revenue per unit of land, raising seed procurement costs. No institutional hedging is available for these costs.
Manufacturing Efficiency
The company operates state-of-the-art seed processing plants in Hyderabad and Kota. Efficiency measures include rationalizing the product portfolio and upgrading logistics and supply chain operations.
Logistics & Distribution
The company is currently upgrading its logistics and supply chain operations to improve efficiency and reduce the impact of the elongated operating cycle.
Strategic Growth
Expected Growth Rate
20%
Growth Strategy
Growth is targeted through the launch of new hybrids (22 launched recently), rationalizing the product portfolio by dropping low-margin/slow-moving items, thrust on digital marketing, and strengthening planning and forecasting. The company also monetized land in Hyderabad for INR 72 Cr to bolster liquidity for growth initiatives.
Products & Services
High-quality hybrid seeds for Bajra, Jowar, Paddy, Cotton, Maize, and vegetables, along with plant nutrient products.
Brand Portfolio
JK Seeds
New Products/Services
22 new hybrids launched in FY22 contributed INR 8.99 Cr to turnover in FY24, up from INR 6.74 Cr in FY23 and INR 2.11 Cr in FY22.
Market Expansion
The company is focusing on expanding its presence in 28 states and recovering export sales, which had previously declined due to reduced institutional orders.
Strategic Alliances
Technical collaborations with leading research-driven institutes and a network of 23 multi-location trial centers covering all Indian climate zones.
External Factors
Industry Trends
The seed industry is evolving with a shift toward genetically modified crops and high-yield hybrids, though it faces a counter-trend of farmers reverting to saved seeds in certain vegetable categories due to cost pressures.
Competitive Landscape
Competes with both organized seed players and the unorganized sector (saved seeds), particularly in the vegetable and field crop segments.
Competitive Moat
The moat is built on the 'JK Seeds' brand, a strong R&D team of 35 scientists, and the financial backing of the JK Group (BACL), which holds investments with a market value of INR 13,794 Cr.
Macro Economic Sensitivity
Highly sensitive to agricultural GDP and monsoon patterns, as 55-60% of sales are concentrated in the Q1 (April-June) period.
Consumer Behavior
Farmers are increasingly making choices based on cropping pattern shifts and the availability of irrigation, impacting demand for high-margin crops like hot pepper.
Geopolitical Risks
Vulnerability to international trade dynamics, evidenced by the decline in export sales and institutional orders in FY23.
Regulatory & Governance
Industry Regulations
Operations are governed by the Seed Act, requiring state-level approvals for new varieties and adherence to government-mandated price caps on cotton seeds.
Legal Contingencies
As of May 2025, no directors on the Board have been debarred or disqualified by SEBI or the Ministry of Corporate Affairs.
Risk Analysis
Key Uncertainties
The primary uncertainty is the dependence on monsoon conditions; lack of adequate irrigation makes 50-60% of annual sales vulnerable to weather fluctuations.
Geographic Concentration Risk
Production and R&D are heavily concentrated in Telangana (Hyderabad/Dundigal) and Rajasthan (Kota).
Third Party Dependencies
High dependency on a network of contract farmers for seed production and 18+ Carry & Forward agents for distribution.
Technology Obsolescence Risk
Risk of existing hybrid varieties becoming obsolete; mitigated by consistent R&D spend (8% of revenue) and the launch of 22 new hybrids.
Credit & Counterparty Risk
The operating cycle is elongated due to high pending dues from various state governments for institutional seed supplies.
