AVT Natural Products Limited (AVTNPL)
₹101.00 +1.25% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, AVT Natural's revenue was ₹241 Cr (+82.2% year on year, +6.7% on the previous quarter), and net profit ₹31.1 Cr (+156.7% year on year); the operating margin was 16.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹241 | +82.2% | +6.7% |
| Operating profit | ₹39.9 | +151.3% | +11.0% |
| Net profit | ₹31.1 | +156.7% | +41.4% |
| EPS (₹) | 2.04 | +155.0% | +40.7% |
| Operating margin | 16.6% | — | — |
AVTNPL delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 25.8% of the AVTNPL shares traded on NSE were taken to delivery, against the stock's own 20-session average of 41.33%. That is lower than usual for this stock. It traded 2.4 times its average daily volume.
Delivery in the last 5 sessions: 19.8% · 26.8% · 37.6% · 28.6% · 25.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
AVT Natural Products Limited reported the voting results of its 40th Annual General Meeting held on August 17, 2026. All five resolutions were approved with overwhelming majorities, with overall voter participation at 75.93% (11,56,33,190 votes polled out of 15,22,84,000 shares). Key approvals include the adoption of FY26 financial statements, declaration of final dividend for FY26, and appointment of Mr. K. Nandakumar as Manager & Chief Executive Officer via special resolution.
- Overall voter turnout stood at 75.93% with 11,56,33,190 total votes polled across all resolutions.
- FY26 financial statements and final dividend declaration approved with over 99.99% overall votes in favour.
- Special resolution for appointment of Mr. K. Nandakumar as Manager & CEO passed with near-unanimous approval (11,56,30,376 votes in favour).
- Appointment of Mr. Siddharth Thomas as Non-Executive Director and re-appointment of Mr. Rahul Thomas approved by shareholders.
- Total shareholder count on record date was 47,791 with 93 shareholders attending the AGM via video conference.
AVT Natural Products Limited conducted its 40th Annual General Meeting on August 17, 2026, via video conferencing. Shareholders considered ordinary business including the adoption of FY26 audited financial statements and declaration of the final dividend for FY 2025-26. Key special business items placed for approval included the appointment of Mr. Siddharth Thomas as Non-Executive Director and Mr. K. Nandakumar as Manager & Chief Executive Officer. Scrutinizer voting results are expected to be disclosed within two working days.
- 40th Annual General Meeting held on August 17, 2026, from 11:30 AM to 01:10 PM
- Remote e-voting was active from August 14, 2026 (9:00 AM) to August 16, 2026 (5:00 PM)
- Tabled appointment of Mr. K. Nandakumar as Manager & Chief Executive Officer
- Shareholders considered adoption of FY26 audited accounts and FY26 final dividend
- Final scrutinizer report and voting results to be submitted within two working days
AVT Natural Products reported a robust Q1 FY27 with consolidated revenue from operations surging 82.1% YoY to Rs 241.21 Cr. Consolidated Net Profit followed suit, growing 99.9% YoY to Rs 24.22 Cr from Rs 12.12 Cr in the year-ago period. The performance shows strong sequential momentum as well, with revenue up 6.5% and PAT up 10.1% compared to Q4 FY26. The company's primary segment, solvent extracted products, remains the sole reportable segment driving this growth.
- Consolidated Revenue from Operations reached Rs 241.21 Cr, an 82.1% increase over Q1 FY26 (Rs 132.42 Cr)
- Consolidated Net Profit after tax rose to Rs 24.22 Cr, nearly doubling from Rs 12.12 Cr YoY
- Consolidated EPS for the quarter improved to Rs 1.59 from Rs 0.80 in the corresponding previous quarter
- Total Expenses increased to Rs 21,025.00 Lakhs, primarily driven by a surge in cost of materials consumed and inventory changes
- Finance costs remained relatively stable at Rs 2.24 Cr compared to Rs 1.96 Cr in Q1 FY26
AVT Natural Products Limited (AVTNPL) reported a robust start to FY27, with consolidated revenue jumping 82.1% YoY to ₹241.21 Cr. Net profit surged 156.6% YoY to ₹31.10 Cr, driven by improved operational efficiencies and likely volume growth in its core solvent extraction segments. The quarterly EPS rose significantly to ₹2.04 from ₹0.80 in the previous year's corresponding quarter. While the company cautions that Q1 results are seasonal and not indicative of full-year performance, the margin expansion from 11.2% to 16.2% (PBT level) is a strong positive signal.
- Consolidated revenue from operations increased by 82.1% YoY to ₹241.21 Cr from ₹132.42 Cr.
- Net profit after tax grew by 156.6% YoY to ₹31.10 Cr compared to ₹12.12 Cr in Q1 FY26.
- Profit Before Tax (PBT) margin improved significantly to 16.2% in Q1 FY27 from 11.2% in Q1 FY26.
- Earnings Per Share (EPS) for the quarter stood at ₹2.04, up from ₹0.80 YoY.
- Total expenses rose by 70.2% YoY to ₹206.66 Cr, trailing the 82% revenue growth.
AVT Natural Products Limited (AVTNPL) has scheduled its 40th Annual General Meeting (AGM) for August 17, 2026. Key agenda items include the declaration of a final dividend for FY26 and the formal appointment of Mr. K. Nandakumar as Manager & CEO for a five-year term (2026-2031). The company is also seeking approval for the appointment of Mr. Siddharth Thomas as a Non-Executive Director. These leadership transitions occur as the company manages a high export-dependent revenue base (95-98%) and a concentrated client portfolio.
- 40th Annual General Meeting scheduled for August 17, 2026, via Video Conferencing.
- Appointment of Mr. K. Nandakumar as CEO for a 5-year tenure from May 28, 2026, to May 27, 2031.
- Proposed CEO basic salary of Rs 6.15 lakhs per month, with a total fixed monthly component exceeding Rs 11.9 lakhs excluding perquisites.
- Record date for determining voting rights is set for August 10, 2026.
- Appointment of Mr. Siddharth Thomas as Non-Executive Director, expanding the board's representation from the promoter family.
AVT Natural Products Limited has filed its quarterly certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed by the Registrar, Cameo Corporate Services Limited. This is a mandatory administrative filing for all listed companies in India. It has no bearing on the company's financial health, which currently shows a TTM revenue of Rs 712 Cr and a PAT of Rs 64 Cr.
- Compliance certificate submitted for the quarter ended June 30, 2026.
- Certificate issued by Registrar and Share Transfer Agent (RTA), Cameo Corporate Services Limited.
- Filing submitted to BSE and NSE on July 10, 2026.
- Confirms adherence to Regulation 74(5) regarding the mutilation and cancellation of share certificates.
AVT Natural Products Limited has informed the exchanges that its trading window will be closed starting July 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the Q1 FY2026-27 financial results. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the unaudited financial results for the quarter ending June 30, 2026, are declared. This is a standard regulatory procedure followed by listed companies to prevent insider trading during the earnings reporting period.
- Trading window closure effective from July 1, 2026
- Closure pertains to the unaudited financial results for the quarter ending June 30, 2026
- Restriction applies to all designated persons and their immediate relatives
- Window will reopen 48 hours after the official declaration of results
The Midland Rubber & Produce Company Ltd., a promoter entity of AVT Natural Products Limited, has submitted a formal declaration under Regulation 31(4) of SEBI (SAST) Regulations, 2011. The disclosure confirms that the promoter, along with persons acting in concert, has not made any encumbrance on their shareholding, directly or indirectly, during the financial year ended March 31, 2024. This is a routine annual compliance filing intended to provide transparency regarding the status of promoter-held shares.
- Disclosure submitted by promoter 'The Midland Rubber & Produce Company Ltd.'
- Compliance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
- Confirms no new or undisclosed pledges/encumbrances were created on promoter shares during FY24.
- Provides assurance to shareholders regarding the stability of the promoter's equity stake.
The Nelliampathy Tea & Produce Company Ltd., a promoter of AVT Natural Products Limited, has submitted a disclosure under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. This annual declaration confirms that the promoter, along with persons acting in concert (PAC), has not made any new encumbrance or pledge on their shares, directly or indirectly, during the financial year. Such filings are mandatory to ensure transparency regarding the status of promoter-held equity.
- Promoter entity The Nelliampathy Tea & Produce Company Ltd. filed the annual disclosure under SEBI Takeover Regulations.
- The filing confirms zero new encumbrances or pledges were created on promoter shares during the 2023-24 financial year.
- The disclosure is a routine compliance requirement under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
AVT Natural Products Limited has fixed August 10, 2026, as the record date for determining shareholder eligibility for the final dividend. The company's 40th Annual General Meeting is scheduled for August 17, 2026, with the book closure period running from August 11 to August 17. On the management front, Mrs. Shanthi Thomas has resigned as a Director, and Mr. Siddharth Thomas, son of Chairman Ajit Thomas, has been appointed as an Additional Director effective June 09, 2026.
- Record date for final dividend eligibility is fixed as August 10, 2026.
- The 40th Annual General Meeting (AGM) will be held on Monday, August 17, 2026.
- Book closure period for dividend and AGM is set from August 11, 2026, to August 17, 2026.
- Mr. Siddharth Thomas appointed as Additional Director (Non-Executive Non-Independent) effective June 09, 2026.
- Mrs. Shanthi Thomas resigned from the position of Director effective June 09, 2026, due to personal reasons.
AVT Natural Products Limited has scheduled its 40th Annual General Meeting for August 17, 2026, and fixed August 10, 2026, as the record date for final dividend eligibility. The company also announced the resignation of Mrs. Shanthi Thomas from the Board effective June 09, 2026. Concurrently, Mr. Siddharth Thomas, son of Chairman Ajit Thomas, has been appointed as an Additional Director. Mr. Siddharth Thomas holds a degree from Purdue University and has experience in public equity and portfolio management.
- 40th Annual General Meeting (AGM) to be held on August 17, 2026.
- Record date for Final Dividend eligibility is fixed as August 10, 2026.
- Mrs. Shanthi Thomas resigned as Non-Executive Director effective June 09, 2026.
- Mr. Siddharth Thomas appointed as Additional Director (Non-Executive Non-Independent).
- Book closure period for dividend and AGM is from August 11 to August 17, 2026.
AVT Natural Products reported a robust financial performance for the fiscal year ended March 31, 2026, with annual revenue growing 31% to ₹683.77 crore. Net profit for the full year increased significantly to ₹51.66 crore from ₹38.89 crore in the previous fiscal. The company also announced a final dividend of ₹0.45 per share (45% of face value) and appointed Mr. K Nandakumar as the new CEO for a five-year term to drive future growth.
- Annual revenue from operations increased 31% YoY to ₹683.77 crore in FY26
- Standalone net profit for the full year grew by 32.8% to ₹51.66 crore
- Board recommended a final dividend of 45% (₹0.45 per equity share) for FY25-26
- Q4 FY26 revenue surged 51% YoY to ₹216.42 crore compared to ₹142.88 crore
- Appointment of Mr. K Nandakumar as CEO for a 5-year term effective May 28, 2026
AVT Natural Products Limited reported a strong financial performance for the fiscal year ended March 31, 2026, with annual revenue from operations rising 31% to ₹683.77 crore from ₹522.04 crore in FY25. Profit Before Tax (PBT) grew significantly by 33.6% to reach ₹69.18 crore. The company rewarded shareholders with a final dividend of ₹0.45 per share (45%) and announced the appointment of Mr. K Nandakumar as the new CEO for a five-year term to lead future growth.
- Annual Revenue from Operations grew 31% year-on-year to ₹683.77 crore.
- Profit Before Tax (PBT) increased to ₹69.18 crore in FY26 compared to ₹51.76 crore in FY25.
- Board declared a final dividend of 45% (₹0.45 per equity share of face value ₹1).
- Mr. K Nandakumar appointed as Manager and CEO for a 5-year tenure effective May 28, 2026.
- Total income for the year stood at ₹695.46 crore with an unmodified audit opinion from statutory auditors.
AVT Natural Products Limited reported a robust financial performance for FY 2025-26, with annual revenue from operations growing 31% to ₹683.77 crore. Profit Before Tax for the full year rose to ₹69.18 crore, up from ₹51.76 crore in the previous fiscal. The board has recommended a final dividend of ₹0.45 per share (45%) and confirmed the appointment of Mr. K Nandakumar as Manager and CEO for a five-year term.
- Annual revenue from operations increased by 31% YoY to ₹68,377.05 lakhs in FY 2025-26.
- Q4 FY26 revenue saw a significant 51% surge to ₹21,641.62 lakhs compared to ₹14,288.02 lakhs in Q4 FY25.
- Profit Before Tax (PBT) for the full year grew by 33.6% to reach ₹6,918.45 lakhs.
- Recommended a final dividend of 45% (₹0.45 per equity share of ₹1 face value).
- Mr. K Nandakumar appointed as Manager and CEO (Key Managerial Personnel) for a 5-year tenure.
AVT Natural Products Limited (AVTNPL) reported a strong financial performance for the fiscal year ended March 31, 2026, with annual revenue from operations growing 31% to ₹683.77 crore. Profitability followed suit, with Profit Before Tax (PBT) increasing by 33.6% to ₹69.18 crore compared to the previous year. The company also announced a final dividend of ₹0.45 per share and appointed Mr. K Nandakumar as the new CEO to lead the company for the next five years.
- Annual Revenue from Operations grew 31% YoY to ₹68,377.05 Lakhs in FY26.
- Profit Before Tax (PBT) for the full year rose to ₹6,918.45 Lakhs from ₹5,175.91 Lakhs in FY25.
- Q4 FY26 revenue surged by 51% YoY to ₹21,641.62 Lakhs compared to ₹14,288.02 Lakhs in Q4 FY25.
- Board recommended a final dividend of 45% (₹0.45 per equity share of face value ₹1).
- Appointment of Mr. K Nandakumar as CEO for a 5-year term, bringing 30+ years of experience from GE, 3M, and TVS Group.
Financial Performance
Revenue Growth by Segment
Revenue is diversified across Marigold extracts (40%), Spice oleoresins (30-40%), and Beverages (25-30%). Total operating income grew 23% YoY to INR 492 Cr in FY2021, followed by a 2% increase to INR 582 Cr in FY2023. However, revenue declined by 10.3% to INR 522 Cr in FY2024, with Q1 FY2025 recording INR 104.5 Cr.
Geographic Revenue Split
The company is heavily export-oriented with 95-98% of total revenue derived from international markets. The US and UK are the primary regions, accounting for 55-65% of total revenue, making the company highly sensitive to the economic conditions of these two nations.
Profitability Margins
Operating margins have shown a downward trend, sustaining above 20% in FY2023 (20.8%) but moderating to 16.0% in FY2024 and sharply declining to 7.5% in Q1 FY2025. Net profit margins (PAT/OI) followed this trend, dropping from 13.3% in FY2023 to 10.2% in FY2024 and 5.7% in Q1 FY2025 due to gross margin pressure.
EBITDA Margin
EBITDA margin (OPBDIT/OI) stood at 20.8% in FY2023, decreasing by 480 basis points to 16.0% in FY2024. This contraction was driven by higher raw material costs and operational inefficiencies, with a further drop to 7.5% in Q1 FY2025 as gross margins remained under pressure.
Capital Expenditure
The company planned a growth capex of INR 60-70 Cr in FY2024 specifically for capacity addition in the beverage products category to drive future volume growth. Historical debt repayment obligations remain minimal at INR 3.5 Cr to INR 4.2 Cr annually.
Credit Rating & Borrowing
AVTNPL maintains a healthy credit profile with an interest coverage ratio of 12.0x in FY2024 (down from 22.6x in FY2023). Borrowing costs are expected to rise following the discontinuation of the interest subvention scheme in June 2024, which will likely moderate future interest coverage metrics.
Operational Drivers
Raw Materials
Key raw materials include agricultural commodities such as Marigold flowers, Tea, Pepper, Paprika, and Capsicum. These materials exhibit high price volatility and are subject to seasonal availability.
Import Sources
While specific countries are not listed for all imports, the company relies on local procurement for marigold through backward integration and global sourcing for spices and tea to meet its 95%+ export demand.
Key Suppliers
Not specifically disclosed, but the company utilizes a backward integration model for marigold to gain better control over pricing and quality of the raw material supply.
Capacity Expansion
Planned expansion includes a capacity increase in the beverage products segment supported by an INR 60-70 Cr investment in FY2024 to capture healthy traction in the beverage category.
Raw Material Costs
Raw material costs are a significant portion of the expense structure, with margins sensitive to commodity price swings. Backward integration in marigold provides some price control, but other commodities remain exposed to market volatility.
Manufacturing Efficiency
Operational efficiency has improved in some segments, but overall operating margins are expected to moderate to ~18% in the medium term due to gross margin pressures.
Logistics & Distribution
As an export-oriented unit (95%+ exports), logistics costs are tied to global shipping rates, impacting the final margin on products delivered to the US and UK.
Strategic Growth
Expected Growth Rate
8-10%
Growth Strategy
Growth will be driven by an INR 60-70 Cr capacity expansion in the beverage segment, leveraging long-term strategic supply agreements with key customers like Kemin Industries, and expanding the value-added spice oleoresin portfolio.
Products & Services
Plant-based extracts, Marigold extracts (Lutein), Spice oils, Oleoresins, and Natural ingredient solutions for food, beverage, animal nutrition, and nutraceutical industries.
Brand Portfolio
AVT Natural Products (part of the A.V. Thomas Group).
New Products/Services
Introduction of new product lines in the natural extracts and beverage segments contributed to the 23% volume growth seen in FY2021.
Market Expansion
Focusing on increasing the 'Beverages' segment contribution, which currently stands at 25-30%, through dedicated capacity additions.
Market Share & Ranking
The company holds an established presence in the global oleoresin and marigold extract segments, though specific global ranking % is not disclosed.
Strategic Alliances
Long-term strategic agreement with Kemin Industries for the exclusive supply of specific products, providing high revenue visibility.
External Factors
Industry Trends
The industry is shifting toward natural ingredients and plant-based solutions. AVTNPL is positioned to benefit from this trend, though it faces competition from other low-cost extraction hubs.
Competitive Landscape
Competes with global and domestic players in the natural extracts and oleoresin markets; competition is based on quality certifications and supply chain reliability.
Competitive Moat
Moat is built on long-term (30+ years) management experience, exclusive strategic supply contracts, and backward integration in the marigold supply chain, which are difficult for new entrants to replicate quickly.
Macro Economic Sensitivity
Highly sensitive to global demand for natural health products and nutraceuticals, particularly in Western economies.
Consumer Behavior
Increasing consumer preference for natural food colors and nutraceutical supplements is driving steady demand for marigold and spice extracts.
Geopolitical Risks
Concentration in the US and UK (65% of revenue) exposes the company to trade policy changes or regulatory shifts in those specific jurisdictions.
Regulatory & Governance
Industry Regulations
Subject to stringent international food safety and nutraceutical standards for exports to the US and UK, as well as local agro-commodity regulations.
Environmental Compliance
As an agricultural processor, the company is exposed to environmental risks related to waste discharge and chemical use in extraction, though specific ESG spend is not disclosed.
Taxation Policy Impact
The company's effective tax rate is not specified, but it has historically benefited from export-related incentives and interest subvention schemes.
Legal Contingencies
No major pending court cases or material legal disputes were disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Agro-climatic risks affecting raw material yields could impact revenue by 10-15% in a bad harvest year. High customer concentration (80% from top 5) remains a critical vulnerability.
Geographic Concentration Risk
65% of revenue is concentrated in the US and UK markets.
Third Party Dependencies
High dependency on a few key customers for repeat orders, though mitigated by long-term exclusive supply agreements.
Technology Obsolescence Risk
Low risk, as the core business relies on established extraction technologies, though shifting to CO2 extraction or newer methods may require future capex.
Credit & Counterparty Risk
Receivables quality is considered high due to established relationships with large global players like Kemin Industries, despite high debtor days (80 days in Mar 2024).
