Patanjali Foods de-rated as edible oil squeeze exposes FMCG valuation stretch

Q4FY26 FMCG revenue grew just 2.6% YoY to ₹2,890 cr while edible oils Ebit slumped 31% to ₹178 cr on palm (+20%) and soya (+23%) price spikes. ICICI Securities cut FY27 EPS by ~14%, with valuation now at 35x FY27 EPS versus a peak market cap of ~₹73,000 cr in April 2025.

Q4FY26 FMCG revenue grew just 2.6% YoY to ₹2,890 cr while edible oils Ebit slumped 31% to ₹178 cr on palm (+20%) and soya (+23%) price spikes. ICICI Securities

Mint · Markets · 6/2/2026, 8:04:02 AM · Ask about this →

Patanjali Foods + Britannia Industries + Hindustan Unilever + ICICI Securities +