Edible Oil · Founded 1996 · www.kritinutrients.com · BSE 533210 · NSE KRITI NUTRI · ISIN INE798K01010
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Business
Kriti Nutrients Ltd. operates in the edible oil sector in India. The company is primarily involved in the processing, refining, and manufacturing of various edible oils, including soy refined oil. Its core business model revolves around sourcing oilseeds (like soybeans), processing them into crude oil, and then refining the crude oil into edible grade oil suitable for direct human consumption. The company typically sells its products to both institutional customers and end consumers under its own brands through a distribution network. Revenue is generated through the sale of these refined edible oil products.
Revenue Mix
Kriti Nutrients' primary business segment is the production and sale of edible oils, with a significant focus on soybean oil and related products. While specific revenue contribution breakdowns are not readily available in public domain without detailed financial reports, it can be inferred that the vast majority of its revenue comes from its core edible oil operations. The company may also derive some revenue from by-products of the oil extraction process, such as de-oiled cakes, which are used as animal feed.
Industry
The Indian edible oil industry is vast, highly competitive, and largely dependent on imports for raw materials, especially for oils like palm and sunflower. The market is characterized by price sensitivity, commodity price volatility, and the presence of numerous players ranging from large multinational corporations and domestic conglomerates to regional unorganized players. Kriti Nutrients likely positions itself as a regional or mid-tier player, potentially focusing on specific geographies or product categories (like soybean oil). Its positioning would rely on efficient procurement, processing capabilities, and a localized distribution network, competing on quality, price, and regional brand strength against larger national brands and smaller local unbranded offerings.
MOAT
For a company like Kriti Nutrients, potential competitive advantages are likely to include:
Cost Efficiency: Efficient sourcing of oilseeds, optimized processing plants, and effective supply chain management can lead to cost leadership in its operating regions.
Regional Brand Recognition: Established consumer brands in its operating geographies can create a degree of customer loyalty, though the overall edible oil market is largely commodity-driven.
Distribution Network: A well-entrenched distribution network in its key markets can ensure product availability and reach.
Operational Scale: Moderate scale in its specific niches or regions can provide some economies of scale in procurement and production compared to very small players.
Growth Drivers
Key factors that can drive Kriti Nutrients' growth over the next 3-5 years include:
Increasing Consumption: Rising population, urbanization, and growing disposable incomes in India lead to sustained demand for edible oils.
Shift to Branded Oils: A gradual shift from unbranded to branded edible oils due to increasing health consciousness and preference for quality and hygiene.
Government Support: Potential government initiatives to promote domestic oilseed cultivation or value addition can benefit local processors.
Distribution Expansion: Expanding its reach into new geographies or strengthening its existing distribution channels.
Product Diversification: Introduction of new varieties of edible oils or value-added products (e.g., fortified oils).
Risks
Commodity Price Volatility: Fluctuations in the prices of oilseeds (e.g., soybeans) and crude edible oils, influenced by global supply/demand, weather patterns, and geopolitical events, directly impact profitability.
Import Dependence & Policy Risk: India's significant dependence on imported edible oils makes the company vulnerable to international price movements, customs duties, and import policies set by the Indian government.
Intense Competition: The fragmented and competitive nature of the Indian edible oil market can put pressure on margins.
Currency Fluctuations: For companies importing raw materials or exporting by-products, currency exchange rate volatility poses a risk.
Regulatory Changes: Changes in food safety standards, labeling requirements, or environmental regulations could increase operational costs.
Supply Chain Disruptions: Disruptions due to natural disasters, logistics issues, or agricultural yield variations.
Management & Ownership
Kriti Nutrients Ltd. is likely a promoter-led company, which is common in India. The promoters (founding family or group) typically hold a significant stake and are actively involved in the management and strategic direction of the company. Management quality would depend on their experience in the edible oil sector, strategic vision, operational efficiency, and commitment to corporate governance. The ownership structure would typically involve the promoter group holding the largest share, with the remaining shares held by public shareholders (institutional and retail investors).
Outlook
Kriti Nutrients operates in an essential and growing segment of the Indian economy. The long-term demand for edible oils in India is expected to remain robust, driven by population growth and increasing consumption. This provides a fundamental tailwind for the company. However, the business is inherently susceptible to the volatility of global commodity prices, intense competition, and regulatory changes impacting imports and domestic agriculture. The ability of Kriti Nutrients to manage its raw material procurement efficiently, maintain strong cost controls, build regional brand equity, and adapt to evolving market dynamics and government policies will be crucial for its sustained performance. While the demand outlook is positive, profitability can be cyclical and subject to external price pressures and competitive intensity.
Price goes above X
Price falls below X
PE goes above X
PE falls below X
| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 172 | 188 | 174 | 173 | 200 | 229 | 213 | 224 | 255 |
| Other Income | 1 | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 2 |
| Total Income | 173 | 189 | 175 | 175 | 202 | 231 | 215 | 226 | 257 |
| Total Expenditure | 159 | 169 | 161 | 162 | 194 | 218 | 202 | 213 | 246 |
| Operating Profit | 14 | 20 | 14 | 14 | 8 | 13 | 14 | 13 | 11 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 12 | 19 | 13 | 12 | 6 | 12 | 12 | 12 | 9 |
| Provision for Tax | 4 | 5 | 3 | 4 | 1 | 3 | 3 | 3 | 3 |
| Profit After Tax | 9 | 14 | 10 | 8 | 5 | 9 | 9 | 9 | 6 |
| Adjustments | 0 | 0 | -0 | 0 | -0 | 0 | -0 | -0 | 0 |
| Profit After Adjustments | 9 | 14 | 10 | 8 | 5 | 9 | 9 | 9 | 6 |
| Adjusted Earnings Per Share | 1.7 | 2.8 | 1.9 | 1.6 | 1 | 1.9 | 1.8 | 1.8 | 1.3 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 684 | 734 | 921 |
| Other Income | 4 | 8 | 8 |
| Total Income | 689 | 742 | 929 |
| Total Expenditure | 622 | 686 | 879 |
| Operating Profit | 67 | 56 | 51 |
| Interest | 1 | 1 | 0 |
| Depreciation | 5 | 5 | 4 |
| Exceptional Income / Expenses | 0 | 0 | 0 |
| Profit Before Tax | 61 | 50 | 45 |
| Provision for Tax | 15 | 13 | 12 |
| Profit After Tax | 45 | 37 | 33 |
| Adjustments | 0 | -0 | 0 |
| Profit After Adjustments | 45 | 37 | 33 |
| Adjusted Earnings Per Share | 9 | 7.4 | 6.8 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 7% | 0% | 0% | 0% |
| Operating Profit CAGR | -16% | 0% | 0% | 0% |
| PAT CAGR | -18% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -25% | 25% | 16% | 17% |
| ROE Average | 19% | 22% | 22% | 22% |
| ROCE Average | 25% | 29% | 29% | 29% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | 176 | 212 |
| Minority's Interest | 0 | 0 |
| Borrowings | 0 | 0 |
| Other Non-Current Liabilities | 7 | 7 |
| Total Current Liabilities | 26 | 19 |
| Total Liabilities | 209 | 238 |
| Fixed Assets | 58 | 58 |
| Other Non-Current Assets | 37 | 85 |
| Total Current Assets | 114 | 95 |
| Total Assets | 209 | 238 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 19 | 9 |
| Cash Flow from Operating Activities | 50 | 32 |
| Cash Flow from Investing Activities | -29 | -29 |
| Cash Flow from Financing Activities | -30 | -11 |
| Net Cash Inflow / Outflow | -10 | -8 |
| Closing Cash & Cash Equivalent | 9 | 2 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | 9.04 | 7.38 |
| CEPS(Rs) | 9.98 | 8.48 |
| DPS(Rs) | 0.3 | 0.3 |
| Book NAV/Share(Rs) | 35.22 | 42.28 |
| Core EBITDA Margin(%) | 9.09 | 6.54 |
| EBIT Margin(%) | 9.06 | 6.86 |
| Pre Tax Margin(%) | 8.85 | 6.78 |
| PAT Margin (%) | 6.62 | 5.04 |
| Cash Profit Margin (%) | 7.3 | 5.78 |
| ROA(%) | 21.67 | 16.57 |
| ROE(%) | 25.66 | 19.07 |
| ROCE(%) | 33.23 | 25.2 |
| Receivable days | 11.03 | 7.37 |
| Inventory Days | 25.54 | 21.53 |
| Payable days | 3.1 | 2.91 |
| PER(x) | 10.21 | 13.41 |
| Price/Book(x) | 2.62 | 2.34 |
| Dividend Yield(%) | 0.33 | 0.3 |
| EV/Net Sales(x) | 0.66 | 0.66 |
| EV/Core EBITDA(x) | 6.75 | 8.66 |
| Net Sales Growth(%) | 0 | 7.3 |
| EBIT Growth(%) | 0 | -18.76 |
| PAT Growth(%) | 0 | -18.25 |
| EPS Growth(%) | 0 | -18.31 |
| Debt/Equity(x) | 0.06 | 0.01 |
| Current Ratio(x) | 4.39 | 4.91 |
| Quick Ratio(x) | 2.55 | 2.91 |
| Interest Cover(x) | 44.58 | 87.9 |
| Total Debt/Mcap(x) | 0.02 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 |
| FII | 0 | 0 | 0.02 | 0.03 | 0.04 | 0.03 | 0.01 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Public | 33.31 | 33.31 | 33.29 | 33.29 | 33.27 | 33.28 | 33.3 | 33.31 | 33.31 | 33.3 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +7% | — | — | — |
| Operating Profit CAGR | -16% | — | — | — |
| PAT CAGR | -18% | — | — | — |
| Share Price CAGR | -25% | +25% | +16% | +17% |
| ROE Average | +19% | +22% | +22% | +22% |
| ROCE Average | +25% | +29% | +29% | +29% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 | 66.68 |
| FII | 0 | 0 | 0.02 | 0.03 | 0.04 | 0.03 | 0.01 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0.02 |
| Public | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 | 33.32 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 | 3.34 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 | 1.67 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 | 5.01 |
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