Hexagon Nutrition Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Hexagon Nutrition Ltd filed with BSE on 22 Jul 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Hexagon Nutrition reported FY26 revenue from operations of Rs 382.63 crore, up 17.8% year-on-year, with EBITDA rising 32.01% to Rs 52.9 crore and EBITDA margin expanding to 13.83%. Profit after tax grew 56.1% to Rs 37.94 crore for the year, on the company's first earnings call following its listing on NSE and BSE. Management discussed segment margins, capacity utilization, export exposure, and growth strategy for branded, premix, and ESG businesses across the question and answer session.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR382.63 crores (FY26)
p. 5
“Revenue from operations increased by 17.8% year-on-year to INR382.63 crores.”
Nikhil Kelkar, page 5 of the filed PDF · View the filing
EBITDA: INR52.9 crores (FY26)
p. 5
“EBITDA increased by 32.01% to INR52.9 crores, while EBITDA margins expanded to 13.83%.”
Nikhil Kelkar, page 5 of the filed PDF · View the filing
Profit after tax: INR37.94 crores (FY26)
p. 5
“Profit after tax grew by 56.1% to INR37.94 crores, reflecting continued focus on profitable growth and operational efficiency.”
Nikhil Kelkar, page 5 of the filed PDF · View the filing
Revenue from operation: INR115.04 crores (Q4 FY26)
p. 9
“During the fourth quarter, revenue from operation was INR115.04 crores, reflecting continued demand across both domestic and international markets.”
Soman Jana, page 9 of the filed PDF · View the filing
EBITDA: INR15.35 crores (Q4 FY26)
p. 9
“During the fourth quarter, EBITDA stood at INR15.35 crores with a quarterly EBITDA margin of 13.34%.”
Soman Jana, page 9 of the filed PDF · View the filing
PAT margin: 9.9% (FY26)
p. 10
“PAT margin improved from 7.5% to 9.9% during the year.”
Soman Jana, page 10 of the filed PDF · View the filing
Profit after tax: INR10.9 crores (Q4 FY26)
p. 10
“For the fourth quarter, profit after tax stood at INR10.9 crores with a PAT margin of 9.5%.”
Soman Jana, page 10 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Revenue and margin momentum
stated as an aspiration by Nikhil Kelkar
p. 13
“we expect to maintain the same momentum what we have created in the last two to three years from the guidance point of view I can say that.”
Nikhil Kelkar, page 13 of the filed PDF · View the filing
EBITDA margin
stated as an aspiration by Nikhil Kelkar
p. 13
“And as we grow our revenues, our operating leverage will also become better and better. So, we expect some expansion in the margins as well.”
Nikhil Kelkar, page 13 of the filed PDF · View the filing
Branded segment margins — 60% to 68%
stated firmly by Nikhil Kelkar
p. 14
“So, in the branded segment, our margins will be around 60% to 68%.”
Nikhil Kelkar, page 14 of the filed PDF · View the filing
Premix segment margins — 35% to 40%
stated firmly by Nikhil Kelkar
p. 14
“Our premix segment, our margins will be around 35% to 40%.”
Nikhil Kelkar, page 14 of the filed PDF · View the filing
ESG segment margins — 25% to 30%
stated firmly by Nikhil Kelkar
p. 14
“And our ESG segment, our margins are around 25% to 30%.”
Nikhil Kelkar, page 14 of the filed PDF · View the filing
Capacity utilization — 35% to 40% · year-end FY26
stated conditionally by Soman Jana
p. 14
“we can definitely expect our capacity to range around 35% to 40% as we see the positive growth in all our major segments, which will drive the capacity in all the units.”
Soman Jana, page 14 of the filed PDF · View the filing
Capacity utilization
stated as an aspiration by Vikram Kelkar
p. 14
“So, it is likely that our capacity utilization will get better with time.”
Vikram Kelkar, page 14 of the filed PDF · View the filing
Export revenue growth — 15%-20% growth · FY27
stated as an aspiration by Vikram Kelkar
p. 18
“So, we do expect to continue our growth journey, despite of the war situation in the West Asian region.”
Vikram Kelkar, page 18 of the filed PDF · View the filing
Revenue growth aspiration — three to five years
stated as an aspiration by Nikhil Kelkar
p. 16
“Yes. That should be a correct estimate to go forward.”
Nikhil Kelkar, page 16 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said more than 80% of export revenue comes from premixes and the ESG segment, with the balance from branded exports.
Answered by Vikram Kelkar
Asked by Abhishek Maheshwari: What is the breakdown of export revenue by product category?
p. 11
“Yes. So, almost more than 80% of the revenue for the exports comes from the premixes as well as the ESG segment and the balance from the branded exports.”
Vikram Kelkar, page 11 of the filed PDF · View the filing
Management said exports to West Asia are less than 20% of total exports, limiting impact, and noted food ingredients remain essential even during conflict.
Answered by Vikram Kelkar
Asked by Abhishek Maheshwari: Is export exposure to West Asia a risk given the war situation?
p. 12
“So, our exports to West Asia constitute less than 20% of our total exports. So as such, we are not significantly impacted.”
Vikram Kelkar, page 12 of the filed PDF · View the filing
Management explained blended capacity utilization ranges by segment and attributed margin improvement mainly to growth in the branded business and premix segment.
Answered by Soman Jana
Asked by Saket Kapoor: How will capacity utilization and margins trend for the coming year, and what drove the margin doubling over four years?
p. 15
“So, the major impact what has turned around the EBITDA margin for doubling is on the volume business that we have done in the branded segment, which adds around more than 50 % gross margin to our kitty.”
Soman Jana, page 15 of the filed PDF · View the filing
Management named DSM, Firmenich, BASF, SternVitamin and Piramal as premix competitors and described the market share question as subjective given the blend of single vitamins and premixes.
Answered by Vikram Kelkar
Asked by Nitin Khandkar: Who are the company's key competitors and what is its market share?
p. 15
“So, we are primarily competing in the premix segment with companies like DSM, Firmenich, BASF, SternVitamin, and we also have Piramal in India with whom we compete.”
Vikram Kelkar, page 15 of the filed PDF · View the filing
Management estimated the clinical nutrition market at roughly Rs 6,300 crore and described the company's share as small, citing growth strategies including expanding medical representatives and distribution.
Answered by Nikhil Kelkar
Asked by Urvija Shah: How does the company plan to grow the branded segment and what is the market size?
p. 16
“So, the market size approximately is INR6,300 crores for the clinical nutrition segment.”
Nikhil Kelkar, page 16 of the filed PDF · View the filing
Management said branded products can pass on cost increases via MRP changes, and the company builds strategic inventory for other ingredients like vitamins.
Answered by Nikhil Kelkar
Asked by Urvija Shah: How is the company managing raw material price volatility, including recent whey price increases?
p. 17
“in the branded segment, we have a ability to pass on the margins to the consumers. So, we take the price increase as it is required in the MRPs as well with that.”
Nikhil Kelkar, page 17 of the filed PDF · View the filing
Management attributed the increase to large ESG orders dispatched late in the year and a premix domestic order jump, describing the effect as cyclical and since normalized.
Answered by Soman Jana
Asked by Makool Agarwal: Why did trade receivables increase during FY26?
p. 18
“So, we have a couple of large orders that were dispatched in the last quarter of the financial year, including the third quarter of the last financial year.”
Soman Jana, page 18 of the filed PDF · View the filing
Risks flagged
Dependence on imported vitamins and minerals sourced from a limited set of countries
p. 12
“So, you can all the vitamins whatever are there, for example, Vitamin A, B-group vitamins, Vitamin C, folic acid.”
Vikram Kelkar, page 12 of the filed PDF · View the filing
Export exposure to West Asia amid regional conflict
p. 12
“I it's a good question. The thing is that our exports are also diversified in terms of the geography.”
Vikram Kelkar, page 12 of the filed PDF · View the filing
Competitive pressure from large multinational players in branded nutrition
p. 19
“See, competition is always difficult whether whichever company you take in the world.”
Nikhil Kelkar, page 19 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.