Nurture Well Industries Ltd — Q3 FY26

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.