Himalaya Nutravedics FY26 Results: Net profit up 231% to ₹739 lakh
- Profit After Tax rose 231.1% YoY to ₹739.0 lakh in FY26
- Revenue from operations increased 105.1% to ₹4,306.8 lakh
- EBITDA margin expanded by 458 bps to 18.8%
- Own-brand business contribution jumped to 51.1% of total revenue
- Operating cash flow remained negative at ₹383.4 lakh due to higher receivables
*this image is generated using AI for illustrative purposes only.
Himalaya Nutravedics India Limited reported a 231.1% jump in Profit After Tax (PAT) for FY26, reaching ₹739.0 lakh. The integrated ayurvedic and nutraceutical company saw its top line more than double, driven by a strategic shift toward high-margin own-brand products.
Revenue from operations stood at ₹4,306.8 lakh, marking a 105.1% year-on-year increase from ₹2,099.7 lakh in FY25. EBITDA rose 171.0% to ₹810.3 lakh, with margins expanding by 458 basis points to 18.8%. The company’s return on equity (ROE) improved significantly to 63.9%, up 885 basis points from the previous year.
Financial Performance Overview
The company’s financial trajectory shows robust growth across key metrics over the last three fiscal years. The following table details the income statement highlights:
| Metric | FY26 | FY25 | YoY Change |
|---|---|---|---|
| Revenue from Operations | ₹4,306.8 lakh | ₹2,099.7 lakh | +105.1% |
| EBITDA | ₹810.3 lakh | ₹299.0 lakh | +171.0% |
| EBITDA Margin | 18.8% | 14.2% | +458 bps |
| Profit After Tax (PAT) | ₹739.0 lakh | ₹223.2 lakh | +231.1% |
| PAT Margin | 17.2% | 10.6% | +653 bps |
Business Mix Shift
A pivotal driver of the margin expansion was the change in revenue composition. Own-brand business contributions surged to 51.1% of total revenue in FY26, up from 19.7% in FY25. This shift reduced reliance on third-party contract manufacturing, which now accounts for 48.9% of the mix. The company’s product portfolio remains heavily weighted toward ayurvedic formulations, which constituted 94.6% of revenue in FY26.
Geographically, while Kerala remains an anchor market at 49.3%, the company has diversified its footprint. Gujarat contributed 13.2% and Uttar Pradesh 11.7% to FY26 revenues, reflecting successful expansion into new states.
What the Numbers Show
Despite the strong profit growth, cash flow from operations remained negative at ₹383.4 lakh in FY26, compared to ₹139.1 lakh in FY25. This divergence between rising profits and negative operating cash flow is linked to working capital dynamics. Trade receivables increased sharply to ₹1,058.7 lakh in FY26 from ₹564.0 lakh in FY25, indicating that a significant portion of the revenue growth is yet to be converted into cash. Additionally, inventory levels rose to ₹891.5 lakh, suggesting potential buildup ahead of planned distribution expansions.
Strategic Outlook
The company plans to deploy ₹750.00 lakh from net proceeds toward branding and digital marketing to support its transition to a direct-to-consumer (D2C) model. This initiative aims to capture impulse-led demand through e-commerce and quick commerce platforms, complementing its existing practitioner-driven offline sales network.
Historical Stock Returns for Himalaya Nutravedics
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.97% | +15.66% | +15.66% | +15.66% | +15.66% | +15.66% |
How will the company address the widening gap between rising profits and negative operating cash flow caused by surging trade receivables?
What specific milestones does Himalaya Nutravedics expect to achieve from its ₹750 lakh D2C branding investment in terms of customer acquisition costs and retention?
Can the company sustain its 18.8% EBITDA margin as it scales distribution into new states like Gujarat and Uttar Pradesh where brand recognition is lower?
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