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Revenue
₹290 Cr
verified against source
Revenue YoY
45.8%
reported change
EBITDA
₹33.19 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
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What the record says.
Nurture Well Industries delivered a strong Q3 FY26 with revenue of ₹289.77 crore (+45.8% YoY) and PAT of ₹34.60 crore (+95% YoY), driven by expansion into high-demand categories like donuts, rusk, and fresh bakery, as well as robust export demand. EBITDA margin expanded 280 bps to 11.45%, aided by better product mix and operating leverage. Management guided FY26 revenue to ~₹1,150 crore (50% YoY growth) and outlined a long-term target of ₹2,500 crore by FY29, with domestic contribution rising to 50%. A new ₹400 crore capex in UP is expected to commence commercial production by FY28, targeting 15% EBITDA margins. Key risk: high customer concentration in export markets (75% from top 2-3 consolidators) and execution delays in the new plant.
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Guidance to track
- Management expects full-year revenue to reach approximately ₹1,150 crore, implying ~50% YoY growth.
- Long-term target with domestic contribution rising to 50% (₹1,200-1,300 crore) and overseas contributing the rest.
- Driven by premium product mix from new plant and direct raw material imports, up from current ~10%.
- UP plant with ₹400 crore capex (₹300 crore fixed, ₹100 crore working capital) to start trial runs in Q4 FY27.
Risks flagged
- Top 2-3 consolidators contribute 50-55% of overseas revenue, posing dependency risk.
- ₹400 crore capex with 24-month timeline; delays in approvals or construction could impact growth targets.
- Domestic business contributes only ~20% of revenue with 6-8% margins, limiting near-term profitability.
- Low effective tax rate due to offshore income exemption; as domestic share rises, tax burden will increase.
Key quotes
- We are expecting our total top line will be roughly close to 1,150 crore roughly so that will be approximately a jump of approximately 50% to the last year turnover.
- The new unit will have a premium segment of biscuits like cookies and other confectionary items where the profit margins are higher than the regular biscuit segment.
- We are targeting roughly 2,500 crores once second unit is operational.
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