Hexagon Nutrition reported a financial performance for the year ended March 31, 2026, with revenue from operations reaching ₹382.63 crore. The company achieved an EBITDA of ₹52.90 crore, reflecting a margin of 13.83%, while Profit After Tax (PAT) stood at ₹37.94 crore, a PAT margin of 9.9%. For the fourth quarter, revenue was ₹115.04 crore with a PAT of ₹10.9 crore. The financial results were disclosed via an earnings call transcript filed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Financial Performance

The company demonstrated strong growth metrics with a PAT CAGR of 76.2% between FY24 and FY26. EBITDA margins improved significantly from 6.2% in FY23 to 13.83% in FY26. Return on Capital Employed (ROCE) for FY26 was recorded at 20.94%, up from 5.94% in FY23, while Return on Equity (ROE) rose to 17.75% from 3.5% in the same period.

Segment Performance and Margins

Management provided insights into segment-wise margins during the earnings call. The branded segment operates with margins between 60% and 68%, the premix segment between 35% and 40%, and the ESG segment between 25% and 30%. For FY26, the branded business accounted for 30% of revenue, the premix segment 35% to 40%, and the ESG segment 30%. The improvement in EBITDA margins was attributed to volume growth in the branded segment and support from the premix business.

Balance Sheet Strength

Hexagon Nutrition maintained a robust balance sheet with a debt-to-equity (D/E) ratio of 0.13x, down from 0.32x in FY23. The company reported net debt of (₹145) Mn, indicating a net cash positive position. The current ratio stood at 3.38x, and interest coverage improved to 13.6x, compared to 3.82x in FY23. Trade receivables increased to ₹82 crore from ₹60 crore in the previous year, primarily due to large orders dispatched in the ESG and domestic premix segments during the latter half of the year.

Operational Metrics

The company operates four manufacturing plants located in Nashik, Chennai, Thoothukudi, and Uzbekistan. Total capacity utilization was approximately 30% for the year ended December 2025, with management expecting utilization to range between 35% and 40% going forward. The branded business operates at 50% to 60% capacity, the premix business at 40% to 45%, and the ESG business varies between 35% and 60% depending on order flow. Export revenue constituted 57% of the total revenue for the fiscal year.

Hexagon Nutrition Ltd accepted the resignations of Executive Director Subhash Purushottam Kelkar and Non-Executive Director Aditya Kelkar from its board effective July 6, 2026. The directors stepped down following the complete divestment of their shareholding in the company. Both individuals were selling shareholders in the recently concluded initial public offering (IPO) and have fully exited the company.

The company disclosed the changes in a regulatory filing submitted to BSE Limited and National Stock Exchange of India Limited. The intimation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The resignations were recorded by Company Secretary and Compliance Officer Vedanti Swapnil Vartak.

In their resignation letters, both directors confirmed they no longer hold any shares in the company as of the resignation date. They stated their departure was appropriate given the agreed terms and applicable requirements following the IPO. The directors affirmed there were no other material reasons for their resignations beyond the share divestment.

Subhash Purushottam Kelkar and Aditya Kelkar confirmed they will remain bound by the terms of a Non-Compete Agreement dated April 20, 2026. This agreement includes provisions related to confidentiality, non-compete, and non-solicitation obligations for the duration agreed upon by the parties. The company acknowledged the contributions made by both directors during their respective tenures.

The details of the director changes were provided in Annexure A to the regulatory filing. The company requested the exchanges to take the information on record and file the necessary intimations with the Registrar of Companies and other regulatory authorities.

Director Resignation Details