Trading Symbol

FERMENTA (NSE)

Key Financial Performance (Consolidated, FY26)

Revenue Performance

  • Consolidated revenue reached a record ₹548 crore in FY26, up 14% from ₹481 crore in FY25.
  • Revenue excluding real estate (core operations) increased 26% year-on-year.
  • Nutrition Business revenue was ₹435 crore, comprising:
  • Vitamin D3 - Human Nutrition: ₹293 crore
  • Vitamin D3 - Animal Nutrition: ₹109 crore
  • Others: ₹33 crore
  • Green Chemistry revenue more than doubled to ₹16 crore from ₹7 crore in FY25.
  • Other API & Intermediates revenue was ₹48 crore.
  • Environmental Solutions revenue was ₹19 crore.
  • Value Unlocking Real Estate contributed ₹2 crore, down significantly from ₹45 crore in FY25.

Profitability Metrics

  • Profit Before Tax: ₹96 crore (15% increase from ₹83 crore in FY25)
  • Tax Expense: ₹26 crore (276% increase from ₹7 crore in FY25)
  • Profit After Tax and exceptional item: ₹70 crore (8% decrease from ₹76 crore in FY25, due to high base with one-off real estate income)
  • Core EBITDA excluding real estate: ₹120 crore (44% increase)
  • EBITDA Margin: 23.3%
  • Net Profit Margin: 12.1%

Balance Sheet Position (FY26)

  • Total Assets: ₹648 crore (5% increase from ₹614 crore)
  • Fixed Assets (Net): ₹206 crore (2% decrease from ₹210 crore)
  • Current Assets: ₹388 crore (16% increase from ₹335 crore)
  • Cash & Equivalents: ₹92 crore (28% increase from ₹72 crore)
  • Inventories: ₹153 crore (23% increase from ₹124 crore)
  • Total Equity: ₹401 crore (12% increase from ₹359 crore)
  • Total Debt: ₹109 crore (flat year-on-year)
  • Current Liabilities: ₹209 crore (1% decrease from ₹212 crore)

Cash Flow Statement

  • Operating Cash Flow: ₹93 crore (more than doubled from ₹41 crore in FY25)
  • Capex: ₹30 crore (increased from ₹22 crore in FY25)
  • Free Cash Flow: ₹62 crore (more than tripled from ₹19 crore in FY25)
  • Net Cash Flow: ₹8 crore (improved from negative ₹10 crore in FY25)

Key Ratios

  • Return on Equity: 16.5% (down from 23.5% in FY25)
  • Return on Assets: 10.1% (down from 13.1% in FY25)
  • Current Ratio: 1.86 (improved from 1.58)
  • Quick Ratio: 0.99 (improved from 0.87)
  • Debt-to-Equity: 0.27 (improved from 0.30)
  • Debt-to-Assets: 0.17 (improved from 0.18)
  • Interest Coverage: 8.71x (improved from 6.86x)
  • Asset Turnover: 0.83
  • Receivables Days: 72 days (increased from 64 days)
  • Inventory Turnover: 3.8 times (decreased from 4.4 times)

Strategic and Operational Highlights

Innovation and Certifications

  • Granted plant-source Vitamin D3 process patent
  • Received EDQM CEP (Certificate of Suitability) for Vitamin D3 100 SD
  • ₹110 crore of new Dahej capacity approved for expansion
  • Company has 75+ years of expertise with 100+ scientists and engineers
  • Serves 400+ global customers across 60+ countries

Manufacturing Footprint

  • Facilities in Thane (Maharashtra), Kullu (Himachal Pradesh), Dahej (Gujarat), and Tirupati (Andhra Pradesh)
  • Tirupati facility produces Fortified Rice Kernel (FRK) enriched with iron, vitamin B12, and folic acid, compliant with FSSAI guidelines and certified by WFP

Product Portfolio Development

  • Spray-Dried Vitamin D3: 100,000 IU/g pharmaceutical-grade technology with CEP certification
  • VITADEE Green®: Plant-based Vitamin D3 with clean-label for vegan supplement markets, 40 MIU/g purity
  • Calcifediol: Next-generation Vitamin D metabolite for nutrition and therapeutics, 1.25% grade for advanced animal nutrition
  • Customized Premixes: Developed for multiple categories including rice, flour, oil, and milk fortification

R&D Achievements

  • Commercialized 11 products including Cholesterol and Lanolin derivatives
  • Enhanced Phenyramidol HCl process
  • Tripled enzyme activity (PA 850, PS 250)
  • Developed in-house TL Lipase & Dual Locus
  • Created 'Penmox Enzyme' for one-pot synthesis
  • Commercialized 10 vitamin products

Market Diversification

  • Revenue from India: 39%
  • Revenue from largest customer: 9%
  • Revenue from top 5 customers: 28%
  • Revenue from top 10 customers: 42%
  • Customers above ₹15 crore: 7
  • Customers at ₹5-15 crore: 14
  • Customers at ₹1-5 crore: 68

Strategic Partnerships

Collaborations with global healthcare company, premier food technology institute under Ministry of Food Processing Industries, leading global exhibition organizer, Health Food and Dietary Supplements Association, and Global Alliance for Improved Nutrition.

Certifications

Multiple global certifications including EDQM CEP, US FDA, EU GMP, Halal, Kosher, FSSAI, BRC, NSF, and others specific to products and sites.