PATANJALI FOODS LIMITED (PATANJALI): Financials & Fundamentals History

Share price

Closing priceAdjusted for splits and bonus issues.

3M1Y3YAll

₹429.45 latest close · +3.7% over the last 90 sessions

₹429.45 month-end · −24.4% over 12 months

₹429.45 month-end · −8.0% over 3 years

₹429.45 month-end · +6215.4% since Jan '20

52-week range ₹328.20 to ₹594.95 · 1-year volatility 30.9%

Was the rally earned?

-24%share price, 1 yearLower P/E held it back

Earnings helped, the multiple did not.

Per-share earnings added 42 points, but investors now pay less per rupee of profit (P/E 50.6x to 23.7x), which took 66 points back.
The share count barely moved.

Net profit growth+42 ptsNet profit rose about 62%, which lifts the price.

P/E change-66 ptsThe P/E fell from 50.6x to 23.7x, which lowers the price.

Share count change0 ptsShare count was little changed. More shares would count against the price.

What do "pts" mean?

"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.

Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.

Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.

Net profit is trailing twelve months as reported with a 60-day lag.

Compare this with GODREJ INDUSTRIES

How rough has the ride been?

Maximum drawdown-72.0%recovered 2023-12

1-year volatility30.9%annualised

Beta vs sector index0.843-year daily, correlation 0.46

Volume spikes8last 90 sessions, 5x the 50-day median

Drawdown from peak

Largest drawdowns

-72.0% (2020-06 peak to 2020-09 low, recovered 2023-12)

-49.6% (2025-04 peak to 2026-07 low, not yet recovered)

-26.4% (2020-05 peak to 2020-05 low, recovered 2020-06)

Most recent volume spikes

2026-11-05: 5.3x the 50-day median, price +7.0% that day

2026-10-28: 6.2x the 50-day median, price +6.2% that day

2026-09-22: 5.7x the 50-day median, price +2.0% that day

Beta is the slope of daily returns against a market-cap-weighted index of the sector's other listed companies, built from today's constituents (so it excludes companies no longer listed).

Where does it rank among Process Industries peers?

Each cell is the company's percentile rank among its Process Industries peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).

Where it ranks today

ROCE54th
Op. margin20thflat vs a year ago
Revenue growth77th▼ 22 pts vs a year ago
EPS growth81st
Debt/equity ↓64th▼ 15 pts vs a year ago
Cash cycle ↓68th▼ 5 pts vs a year ago
P/E ↓36th▲ 19 pts vs a year ago
12M momentum27th▼ 46 pts vs a year ago

Rank history

ROCE

Op. margin

Revenue growth

EPS growth

Debt/equity ↓

Cash cycle ↓

P/E ↓

12M momentum

Dec '21Jul '22Jan '23Jul '23Jan '24Jul '24Jan '25Jul '25Jan '26Jul '26Nov '26

Lower rank Higher rank Not enough data

Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.

The Process Industries sector page Watch it move against Process Industries in the Observatory

What is the price implying?

~17%annual earnings growth implied by the priceBelow delivered growth

At P/E of 23.7x, a holder earning 12%/yr needs earnings to grow about 17.2%/yr for 10 years, then trade at 15x.

Delivered22.2%/yrEPS, last 10 fiscal years · 3-yr avg to 3-yr avg

Gap−4.9 ptsimplied minus delivered

Rank628thmost demanding of 856

Over time

Implied growth by month (solid) and delivered growth (dashed).

Change the assumptions

Exit P/E / return	11%	12%	13%
12x	18.8%	19.9%	21.0%
15x	16.2%	17.2%	18.3%
20x	12.9%	13.9%	14.9%

Drag a slider to test other assumptions

Required return 12.0% Years 10 Exit P/E 15x Implied: 17.2%/yr

“Implied growth” is what the current price would require under our stated assumptions, not what we expect. How this is calculated and the market-wide lists.

What prices imply across Process Industries The market-wide Expectations lists

Key figures

Share Priceclose 9 Nov: ₹429.45
P/E: 23.7x
ROCE: 12.0%
Market Cap: ₹46710 cr
Revenue (TTM): ₹42754 cr
P/S: 1.1x
P/B: 3.6x
ROE: 15.0%
Operating Margin: 4.8%
Debt / Equity: 0.2x
Promoter Holding: 68.3%
12M Momentum: -24.4%

52-week range

₹328.20₹594.95

38% of the way from its 52-week low to its high

Price risk

1Y volatility

30.9%

Beta vs sector

1-year daily

0.68

Balance sheet & cash

Interest cover

operating profit ÷ interest

11.6x

Cash from profit, 3Y

operating cash flow ÷ net profit

4.62x

Share count, 1Y

+0.9%

Are profits backed by cash?

5 of 7checks within range2 beyond a threshold

Other income reliance-2%Within range

Other income as a share of pre-tax profit (trailing twelve months): -1.9%. Bands: below 15%, 15% to 35%, above 35%.

Tax rate0%Beyond threshold

Median quarterly effective tax rate over about 2.5 years: 0.0%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.

Cash conversion0.03xBeyond threshold

Operating cash flow divided by net profit over the last three fiscal years: 0.03x (cash from operations ₹89 cr, net profit ₹3,027 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.

Free cash flow4 of 5 yrsWithin range

Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.

Receivable days vs history+14 daysWithin range

Debtor days are above the median of the previous three fiscal years by 14 days (22 vs 8). Bands: under 15 days, 15 to 45, over 45.

Capital work in progress1% of fixed assetsWithin range

Capital work-in-progress is 1% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.

Payable days-37 days / 2 yrsWithin range

Days payable changed by -37 over two years. Bands: rise of up to 30 days; more than 30 days.

Tap a check to see how it is measured

How to read this

Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.

All terms explained in the glossary →

Who has been buying and selling?

Over 3 years, DIIs added 8.8 pts; promoters trimmed 5.6 pts; FIIs trimmed 2.1 pts.
The number of shareholders fell from 2.7 lakh to 2.2 lakh (-18%) between Sep 2023 and Jun 2026.

Holdings, Jun '26

How each group changed

GroupSep '23Jun '26Change

Promoters73.8%68.3%-5.6 pts

FIIs10.6%8.5%-2.1 pts

DIIs2.2%11.1%+8.8 pts

Public and others13.3%12.2%-1.2 pts

Number of shareholders

2.2 lakhshareholders-18% since Sep '23

Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.

This quarter's smart-money board

What happened next to similar setups

−3.0%typical 12-month return vs the marketNot meaningfully different from the base rate

We found 50 past situations where a non-financial company looked like PATANJALI FOODS LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
Over the following 12 months the middle half of them returned −20% to +10% vs the market, against −6% for all non-financial companies in the same months.
The gap against the base rate (+3.2%, 80% range −3.7% to +6.7%) is within what chance and overlapping periods produce.

Where the 50 outcomes landed

Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 1 beyond the range shown, drawn at the edge

Similar setups' median

−3.0%

All companies' median

−6.2%

Beat the market

44% vs 43%

50 past situations · 50 companies · 31 months · 2020–2025

The closest matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
APOLLOTYRE Consumer Durables	Feb 2020	12x	9%	−34%	−37%	+19%
MRF Consumer Durables	Aug 2021	27x	14%	+38%	−18%	0%
DALBHARAT Non-Energy Minerals	Jan 2024	41x	8%	+29%	−5%	−24%
CIEINDIA Producer Manufacturing	Jan 2020	13x	14%	−26%	−31%	−22%
GODREJAGRO Process Industries	Jan 2023	22x	16%	−16%	−21%	−11%

Show the other 3 matches

Company	When	P/E	ROCE	12M mom.	Drawdown	Next 12 months
VARROC Producer Manufacturing	Jan 2020	15x	13%	−27%	−33%	−26%
EXIDEIND Producer Manufacturing	Apr 2025	38x	10%	−26%	−39%	−4%
ENDURANCE Producer Manufacturing	Feb 2024	55x	14%	+49%	−14%	−1%

How reliable is this?

Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: drawdown from 12-month high, 12-month momentum and P/E. One match per company and at most 7 from any one month.

Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.

How this is built

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to PATANJALI FOODS LIMITED. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

Methodology

How historical analogs are built

Data as of 2026-11-09. Outcome pool: Jan 2020 to Oct 2025.

For every company we look at the situation it is in today (valuation, return on capital, margins, debt, growth, 12-month price momentum, drawdown, size and volatility) and find past company-months that looked most like it. We then show what happened to those past situations over the following 12 months, measured against the ApnaFunda All index and against the base rate. It describes history. It does not predict anything.

What is compared

Feature	Weight	Non-financial	Financial
P/E	1	yes	yes
P/S	1	yes	—
P/B	1	—	yes
ROCE	1	yes	—
operating margin	1	yes	—
ROE	1	—	yes
debt/equity	0.75	yes	—
interest cover	0.5	yes	—
revenue growth	0.75	yes	yes
12-month momentum	1	yes	yes
drawdown from 12-month high	0.75	yes	yes
size	0.75	yes	yes
volatility	0.5	yes	yes

Weights were set by judgement before any outcome was looked at and are never tuned on results. Loss-making companies (negative P/E or net profit) are only matched with other loss-making companies. Banks, NBFCs and insurers are compared only with each other and use a different feature set. Every feature is converted, month by month, to its rank among companies in the same pool in that month, so a P/E of 30 in a hot market and a P/E of 22 in a cold one can match if both were equally expensive for their time. Only that month's data is used.

How closeness and the sample are defined

Distance is the weighted root-mean-square gap between the standardised features both companies have. A match needs at least 70% of the query's feature weight, a distance of at most 0.9, and 30 matches at minimum to be shown. We keep up to 50 matches with these exclusions: never the company itself, one match per company (its closest month), and at most 7 from any one calendar month so a single market episode cannot dominate.

Base rate

The base rate is the distribution of 12-month returns, relative to the market, of every eligible company-month in the same pool, with each month weighted to match the months the analogs came from. It answers: how did a random company do in these same months? Because matches from nearby months share the same market conditions, we also report the number of distinct 12-month windows behind a result, and a bootstrap that resamples months decides whether the analog median differs from the base rate at all. "Not meaningfully different" is the usual outcome and the page copy is written for it.

Limits you should know

One market period. The outcome pool covers 2020–2025 only (70 months), including the 2020 crash and the 2020–21 rally.
Survivorship. Only companies listed today are included. Delisted and bankrupt companies are missing, which flatters past outcomes, particularly for distressed-looking setups.
Price return only. Dividends are excluded, and the benchmark is an ApnaFunda market-cap-weighted index of the same listed companies, not an official index.
Reporting lag. Fundamentals are matched on an assumed 60-day lag after the quarter end, not on real announcement dates.
Pools: non-financial: 98,395 company-months from 2019 companies; financial: 5,659 company-months from 108 companies. 2349 companies currently have a result; the rest are suppressed because too few comparable situations exist.

Does it work? A walk-forward check

The walk-forward check has not been run for this build, so skill is shown as not yet measured.

Disclaimer

This is history, not a forecast. These are past situations where other companies had broadly similar reported numbers and price trends. What happened to them does not tell you what will happen to any company shown. The comparison covers only 2020–2025, a single market period, and only companies still listed today. Companies that were delisted or went bankrupt are missing, which makes past outcomes look better than they were. Returns exclude dividends and are measured against an ApnaFunda-built index, not an official benchmark. Fundamentals are matched on a 60-day assumed reporting lag, not actual announcement dates. Its historical skill has not yet been measured. Past patterns may not repeat.

What else looks like this?

Companies with the most similar financial profile today, regardless of industry.

BELRISE INDUSTRIESBELRISE

Producer Manufacturing

52%similar

promoter holdingmarket cap

ENDURANCE TECHNOLOGIESENDURANCE

Producer Manufacturing

52%similar

volatilitydebt/equity

GRAVITA INDIAGRAVITA

Non-Energy Minerals

52%similar

operating marginP/E

MINDA CORPORATIONMINDACORP

Producer Manufacturing

52%similar

volatilityROCE

SHYAM METALICS AND ENERGYSHYAMMETL

Producer Manufacturing

50%similar

market caprevenue

BASF INDIABASF

Process Industries

60%similar

volatilityrevenue

AWL AGRI BUSINESSAWL

Process Industries

44%similar

revenueoperating margin

LT FOODSLTFOODS

Process Industries

42%similar

P/Erevenue

Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.

What changed?

30 events since Mar '22

2026
OctPriceVolume reached 6.2x its 50-day median on 2026-10-28; price +6.2% that day.
SepInstitutionsFII + DII holding fell 4.3 pts over 2 quarters to 19.6%.
JulPriceFell 50% from the Apr 2025 peak to the Jul 2026 low.
JulPriceVolume reached 38.3x its 50-day median on 2026-07-15; price -14.6% that day.
JunPeer rankMoved into the 2nd quartile of Process Industries on ROCE (from the bottom quartile).
MarPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
FebPriceVolume reached 7.8x its 50-day median on 2026-02-09; price +1.4% that day.
2025
DecPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).

Show 22 earlier events

2025
NovPriceVolume reached 11.5x its 50-day median on 2025-11-03; price -4.0% that day.
SepInstitutionsFII + DII holding rose 4.6 pts over 2 quarters to 24.2%.
SepPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
JulPriceVolume reached 6.8x its 50-day median on 2025-07-16; price +6.6% that day.
JunResultsEPS (TTM) turned positive.
JunPeer rankMoved into the 3rd quartile of Process Industries on operating margin (from the bottom quartile).
JunDividendStarted paying a dividend (payout 28% of profit).
JunSharesShare count is up 10.8% over 12 months.
AprPriceVolume reached 5.1x its 50-day median on 2025-04-23; price -0.1% that day.
FebPriceVolume reached 7.8x its 50-day median on 2025-02-28; price -2.9% that day.
2024
DecPromoterPromoter holding fell 3.0 pts to 69.8%.
DecInstitutionsFII + DII holding rose 6.5 pts over 2 quarters to 19.7%.
SepPriceVolume reached 23.7x its 50-day median on 2024-09-13; price -3.7% that day.
JulPriceRegained the 2024-01 peak, 1 month after the low.
JunPriceFell 26% from the Jan 2024 peak to the Jun 2024 low.
JunPeer rankSlipped to the bottom quartile of Process Industries on operating margin (from the 3rd quartile).
2023
DecPriceRegained the 2020-06 peak, 39 months after the low.
NovPriceVolume reached 10.6x its 50-day median on 2023-11-01; price -1.5% that day.
JulPriceVolume reached 13.0x its 50-day median on 2023-07-17; price +8.2% that day.
MarPriceVolume reached 14.9x its 50-day median on 2023-03-17; price -5.0% that day.
2022
AprPriceVolume reached 1657.6x its 50-day median on 2022-04-08; price +12.9% that day.
MarPriceVolume reached 195.7x its 50-day median on 2022-03-29; price +15.8% that day.

Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.

Where price and fundamentals disagree, market-wide Rewind the whole market to any month

Monthly history83 months · 2020-01 to 2026-11

Month	P/E	Revenue (TTM)	ROE	ROCE	Debt / Equity
2026-11	23.7x	₹42754 cr	15.0%	12.0%	0.2x
2026-10	20.1x	₹42754 cr	15.0%	12.0%	0.2x
2026-09	20.0x	₹42754 cr	15.0%	12.0%	0.2x
2026-08	20.7x	₹40183 cr	13.9%	12.0%	0.2x
2026-07	21.2x	₹40183 cr	13.9%	12.0%	0.2x
2026-06	24.6x	₹40183 cr	13.9%	12.0%	0.2x
2026-05	30.1x	₹38719 cr	14.5%	—	0.1x
2026-04	30.3x	₹38719 cr	14.5%	—	0.1x
2026-03	30.3x	₹38719 cr	14.5%	—	0.1x
2026-02	38.7x	₹37232 cr	12.6%	—	0.1x
2026-01	38.1x	₹37232 cr	12.6%	—	0.1x
2025-12	41.5x	₹37232 cr	12.6%	—	0.1x
2025-11	50.6x	₹35557 cr	10.7%	—	0.1x
2025-10	53.7x	₹35557 cr	10.7%	—	0.1x
2025-09	51.3x	₹35557 cr	10.7%	—	0.1x
2025-08	49.5x	₹33968 cr	11.5%	—	0.1x
2025-07	52.1x	₹33968 cr	11.5%	—	0.1x
2025-06	45.9x	₹33968 cr	11.5%	—	0.1x
2025-05	—	₹12835 cr	—	2.0%	—
2025-04	—	₹12835 cr	—	2.0%	—
2025-03	—	₹12835 cr	—	2.0%	—
2025-02	—	₹12835 cr	—	2.0%	—
2025-01	—	₹12835 cr	—	2.0%	—
2024-12	—	₹12835 cr	—	2.0%	—
2024-11	—	₹12835 cr	—	2.0%	—
2024-10	—	₹12835 cr	—	2.0%	—
2024-09	—	₹12835 cr	—	2.0%	—
2024-08	—	₹12835 cr	—	2.0%	—
2024-07	—	₹12835 cr	—	2.0%	—
2024-06	—	₹12835 cr	—	2.0%	—
2024-05	—	₹12835 cr	—	2.0%	—
2024-04	—	₹12835 cr	—	2.0%	—
2024-03	—	₹12835 cr	—	2.0%	—
2024-02	—	₹12835 cr	—	2.0%	—
2024-01	—	₹12835 cr	—	2.0%	—
2023-12	—	₹12835 cr	—	2.0%	—
2023-11	—	₹12835 cr	—	2.0%	—
2023-10	—	₹12835 cr	—	2.0%	—
2023-09	—	₹12835 cr	—	2.0%	—
2023-08	—	₹12835 cr	—	2.0%	—
2023-07	—	₹12835 cr	—	2.0%	—
2023-06	—	₹12835 cr	—	2.0%	—
2023-05	—	₹12835 cr	—	2.0%	—
2023-04	—	₹12835 cr	—	2.0%	—
2023-03	—	₹12835 cr	—	2.0%	—
2023-02	—	₹12835 cr	—	2.0%	—
2023-01	—	₹12835 cr	—	2.0%	—
2022-12	—	₹12835 cr	—	2.0%	—
2022-11	—	₹12835 cr	—	2.0%	—
2022-10	—	₹12835 cr	—	2.0%	—
2022-09	—	₹12835 cr	—	2.0%	—
2022-08	—	₹12835 cr	—	2.0%	—
2022-07	—	₹12835 cr	—	2.0%	—
2022-06	—	₹12835 cr	—	2.0%	—
2022-05	—	₹12835 cr	—	2.0%	—
2022-04	—	₹12835 cr	—	2.0%	—
2022-03	—	₹12835 cr	—	2.0%	—
2022-02	—	₹12835 cr	—	2.0%	—
2022-01	—	₹12835 cr	—	2.0%	—
2021-12	—	₹12835 cr	—	2.0%	—
2021-11	—	₹12835 cr	—	2.0%	—
2021-10	—	₹12835 cr	—	2.0%	—
2021-09	—	₹12835 cr	—	2.0%	—
2021-08	—	₹12835 cr	—	2.0%	—
2021-07	—	₹12835 cr	—	2.0%	—
2021-06	—	₹12835 cr	—	2.0%	—
2021-05	—	₹12835 cr	—	2.0%	—
2021-04	—	₹12835 cr	—	2.0%	—
2021-03	—	₹12835 cr	—	2.0%	—
2021-02	—	₹12835 cr	—	2.0%	—
2021-01	—	₹12835 cr	—	2.0%	—
2020-12	—	₹12835 cr	—	2.0%	—
2020-11	—	₹12835 cr	—	2.0%	—
2020-10	—	₹12835 cr	—	2.0%	—
2020-09	—	₹12835 cr	—	2.0%	—
2020-08	—	₹12835 cr	—	2.0%	—
2020-07	—	₹12835 cr	—	2.0%	—
2020-06	—	₹12835 cr	—	2.0%	—
2020-05	—	₹12835 cr	—	2.0%	—
2020-04	—	₹12835 cr	—	2.0%	—
2020-03	—	₹12835 cr	—	2.0%	—
2020-02	—	₹12835 cr	—	2.0%	—
2020-01	—	₹12835 cr	—	2.0%	—

Methodology and data notes