Venky's (India) Limited, incorporated in 1976 and based in Pune, India, is a leading player in the poultry industry and is recognized as the largest fully integrated poultry group in Asia. The company was formerly known as Western Hatcheries Limited and operates as a subsidiary of Venkateshwara Hatcheries Private Limited (VH Group).
The VH Group, founded in 1971 by the Late, Padmashree, Dr. B.V. Rao, often referred to as the Father of the Indian Poultry Industry, laid the foundation for what is now a globally recognized parent company of Venky's. Venky's (India) specializes in a diverse range of products including chicks, eggs, processed chicken, animal feed, and various animal health products.
Venky's (India) operates through three distinct business segments, forming the backbone of its integrated poultry operations:
This segment focuses on the production and sale of day-old broiler and layer chicks, specific pathogen-free (SPF) eggs, processed chicken products, poultry feed, feed supplements, and other miscellaneous poultry products. Venky's is notable for being the only commercial producer of SPF Chicken embryos in India. This core business segment demonstrated resilience, with revenue amounting to ₹451.69 crore, registering a 5.83% year-on-year (YoY) growth in the recent quarter.
The Animal Health Products (AHP) segment is dedicated to producing and selling medicines and health products for birds. The company operates a specialized manufacturing facility for these products in Pune. The AHP-Division plays a crucial role in providing comprehensive animal health support, having made significant strides in developing products to promote overall animal well-being. This segment showed strong performance, with revenue of ₹80.32 crore, marking a 6.58% YoY increase.
The Oilseed segment is involved in the production and sale of edible refined soya oil and soya de-oiled cake, alongside solvent oil extraction. However, this segment faced challenges in the recent quarter, reporting revenues of ₹269.63 crore, which represented a decline of 38.17% YoY.
For the full year ended March 2025, Venky's (India) reported a net profit increase of 47.49% to ₹116.62 crore, compared to ₹79.07 crore in the previous year (March 2024). However, sales for the year declined by 11.53% to ₹3306.99 crore, down from ₹3738.15 crore in the year ended March 2024.
In the quarter ended March 2025, the company's net profit declined by 60.31% to ₹13.30 crore, against ₹33.51 crore in the corresponding quarter of the previous year (March 2024). Sales for the quarter also decreased by 5.89% to ₹843.16 crore, from ₹895.94 crore in the quarter ended March 2024.
• Revenue (FY25): ₹3,306.99 crore
• Net Profit (FY25): ₹116.62 crore
• Market Capitalization: ₹2,247 crore (as of recent data)
• EPS (Latest FY): ₹82.8
• Return on Equity (Last 3 years): 6.61%
Venky's (India) has announced strategic initiatives to expand its product portfolio and market presence. The company plans to enter the ready-to-cook spices market by launching ready-mix masala powders. These products are aimed at catering to the growing demand for convenience foods in both domestic and international markets.
The new spices will be manufactured at the company's existing facility in Maharashtra, with a proposed capacity of 1,700 kgs per day. Commercial production is expected to commence by the end of the first quarter of FY 2025-26. The estimated project cost is approximately ₹16 crore, which will be fully funded through internal accruals.
As of March 2025, promoter holding in Venky's (India) Ltd remained stable at 56.11%, with no shares having been pledged.
The company's board has recommended a dividend of ₹10 per equity share for the year ended 31st March 2025, subject to shareholder approval at the upcoming Annual General Meeting. Historically, dividend payout has been low, at 12.2% of profits over the last 3 years.
Venky's (India) maintains a strong leadership position in the Indian poultry market, primarily due to its integrated operations and extensive product portfolio which has led the VH Group to become Asia's largest fully-integrated poultry group. Key competitors in the market include HMA Agro Industries, Apex Frozen Foods, SKM Egg Products, Kings Infra Ventures, KSE, Godrej Agrovet, and Godrej Industries.
The Indian poultry industry, valued at ₹1,708 billion in 2021, is projected to grow at a Compound Annual Growth Rate (CAGR) of 10.50% between 2022 and 2027, reaching ₹3,170 billion. This growth is primarily driven by increased consumption of poultry products as consumers become more aware of fitness and the importance of protein in their diets, leading to a rising demand for eggs and meat.
Venky's (India) Limited is well-positioned to capitalize on the expanding poultry market in India, leveraging its integrated business model that spans from breeding to processing. Through strategic diversification and operational efficiencies, the company continues to strengthen its market leadership and capture future growth opportunities in Asia's dynamic poultry industry.
