$PATANJALI

Patanjali Foods' Q4 FY26 revenue of ₹11,155.60 crores represents the highest quarterly sales in the company's recent history, driven by volume growth and improved product realisation in the edible oil segment. The 6.41% sequential growth from Q3 FY26 (₹10,483.71 crores) demonstrates strong momentum heading into the fiscal year-end, whilst the 15.10% year-on-year expansion reflects market share gains in a competitive industry. However, the revenue growth story is significantly undermined by deteriorating profitability metrics. Operating profit (PBDIT excluding other income) stood at ₹445.34 crores in Q4 FY26, translating to an operating margin of just 3.99%, down sharply from 5.33% in Q4 FY25 and 4.14% in Q3 FY26. This 134 basis points year-on-year margin compression reflects the intense pricing pressure in the edible oil market, elevated raw material costs, and competitive dynamics that have squeezed profitability across the value chain. The profit before tax (PBT) of ₹235.65 crores in Q4 FY26 was substantially lower than the ₹364.23 crores reported in Q3 FY26 and ₹458.47 crores in Q4 FY25, declining 35.30% sequentially and 48.60% year-on-year. This sharp contraction in PBT underscores the underlying operational challenges, with the reported net profit growth of 46.15% year-on-year entirely attributable to the extraordinary tax reversal rather than improved business fundamentals.