Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹1,054Cr
Agricultural Processing - Maize
Rev Gr TTM
Revenue Growth TTM
22.76%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

AVTNPL
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 3.8 | -30.8 | -15.7 | 11.1 | -6.9 | 1.6 | -9.9 | 12.1 | 25.4 | 26.7 | 31.6 | 12.2 |
| 110 | 92 | 119 | 118 | 109 | 97 | 114 | 143 | 132 | 116 | 145 | 171 |
Operating Profit Operating ProfitCr |
| 17.9 | 10.8 | 12.3 | 23.2 | 12.7 | 7.5 | 6.6 | 17.3 | 15.7 | 12.0 | 9.3 | 11.9 |
Other Income Other IncomeCr | -1 | 3 | 5 | 0 | 5 | 5 | 5 | 4 | 2 | 4 | 5 | 3 |
Interest Expense Interest ExpenseCr | 2 | 1 | 2 | 2 | 2 | 1 | 2 | 3 | 3 | 2 | 2 | 2 |
Depreciation DepreciationCr | 4 | 3 | 4 | 4 | 3 | 3 | 3 | 3 | 4 | 3 | 3 | 3 |
| 18 | 10 | 16 | 30 | 15 | 8 | 8 | 28 | 20 | 15 | 16 | 22 |
| 4 | 2 | 4 | 8 | 4 | 2 | 1 | 6 | 5 | 3 | 2 | 4 |
|
Growth YoY PAT Growth YoY% | -10.8 | -66.4 | -53.8 | 67.7 | -22.5 | -28.6 | -45.5 | -3.6 | 31.0 | 103.4 | 110.6 | -19.6 |
| 10.5 | 8.1 | 8.6 | 14.5 | 8.8 | 5.7 | 5.2 | 12.5 | 9.2 | 9.2 | 8.3 | 8.9 |
| 0.9 | 0.6 | 0.8 | 1.5 | 0.7 | 0.4 | 0.4 | 1.4 | 0.9 | 0.8 | 0.9 | 1.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 5.0 | 13.4 | 5.4 | 3.4 | 16.9 | 22.4 | 15.3 | 4.1 | -11.2 | 7.5 | 15.7 |
| 216 | 236 | 269 | 295 | 297 | 339 | 414 | 454 | 461 | 438 | 486 | 565 |
Operating Profit Operating ProfitCr |
| 17.3 | 13.9 | 13.5 | 9.9 | 12.3 | 14.4 | 14.7 | 18.9 | 20.8 | 15.3 | 12.7 | 12.2 |
Other Income Other IncomeCr | 4 | 2 | 5 | 13 | 4 | 7 | 9 | 10 | 2 | 13 | 16 | 15 |
Interest Expense Interest ExpenseCr | 3 | 1 | 2 | 3 | 5 | 6 | 4 | 5 | 5 | 7 | 9 | 9 |
Depreciation DepreciationCr | 6 | 6 | 7 | 7 | 11 | 14 | 15 | 14 | 13 | 14 | 14 | 12 |
| 41 | 33 | 38 | 36 | 30 | 45 | 61 | 97 | 105 | 71 | 63 | 72 |
| 14 | 11 | 14 | 12 | 9 | 11 | 15 | 24 | 27 | 18 | 15 | 15 |
|
| | -18.0 | 13.1 | -1.0 | -13.9 | 63.1 | 33.2 | 60.9 | 6.2 | -31.1 | -9.5 | 18.5 |
| 10.1 | 7.9 | 7.8 | 7.4 | 6.2 | 8.6 | 9.3 | 13.0 | 13.3 | 10.3 | 8.7 | 8.9 |
| 1.7 | 1.4 | 1.6 | 1.6 | 1.4 | 2.2 | 3.0 | 4.8 | 5.1 | 3.5 | 3.2 | 3.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 | 15 |
| 171 | 185 | 209 | 223 | 236 | 260 | 295 | 354 | 415 | 454 | 491 | 508 |
Current Liabilities Current LiabilitiesCr | 45 | 42 | 39 | 80 | 111 | 82 | 98 | 67 | 77 | 113 | 228 | 262 |
Non Current Liabilities Non Current LiabilitiesCr | 6 | 7 | 12 | 11 | 26 | 21 | 17 | 13 | 15 | 16 | 12 | 7 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 181 | 189 | 208 | 224 | 283 | 272 | 333 | 361 | 441 | 511 | 663 | 702 |
Non Current Assets Non Current AssetsCr | 56 | 61 | 68 | 106 | 105 | 105 | 93 | 88 | 81 | 87 | 84 | 91 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 12 | 34 | 16 | 14 | -30 | 71 | 8 | 74 | 51 | 99 | -33 |
Investing Cash Flow Investing Cash FlowCr | 0 | -31 | -10 | -29 | 4 | -14 | -4 | -29 | -37 | -78 | -9 |
Financing Cash Flow Financing Cash FlowCr | -12 | -7 | -3 | 11 | 29 | -50 | -6 | -45 | -9 | -15 | 50 |
|
Free Cash Flow Free Cash FlowCr | 2 | 23 | 11 | -25 | -50 | 56 | 3 | 67 | 43 | 81 | -42 |
| 43.9 | 155.6 | 63.5 | 58.7 | -142.1 | 207.5 | 16.9 | 102.1 | 66.1 | 184.9 | -67.4 |
CFO To EBITDA CFO To EBITDA% | 25.6 | 88.0 | 36.9 | 43.6 | -71.0 | 123.6 | 10.7 | 70.5 | 42.3 | 124.1 | -46.2 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 412 | 426 | 599 | 548 | 402 | 360 | 685 | 1,988 | 1,205 | 1,277 | 822 |
Price To Earnings Price To Earnings | 16.6 | 20.9 | 24.4 | 22.6 | 19.3 | 10.6 | 15.2 | 27.3 | 15.6 | 24.0 | 17.0 |
Price To Sales Price To Sales | 1.6 | 1.6 | 1.9 | 1.7 | 1.2 | 0.9 | 1.4 | 3.5 | 2.1 | 2.5 | 1.5 |
Price To Book Price To Book | 2.2 | 2.1 | 2.7 | 2.3 | 1.6 | 1.3 | 2.2 | 5.4 | 2.8 | 2.7 | 1.6 |
| 8.9 | 11.1 | 14.3 | 17.6 | 11.2 | 6.7 | 10.2 | 18.9 | 10.1 | 16.3 | 12.8 |
Profitability Ratios Profitability Ratios |
| 54.9 | 46.7 | 46.6 | 43.6 | 54.7 | 51.9 | 52.0 | 54.5 | 61.1 | 57.3 | 55.3 |
| 17.3 | 13.9 | 13.5 | 9.9 | 12.3 | 14.4 | 14.7 | 18.9 | 20.8 | 15.3 | 12.7 |
| 10.1 | 7.9 | 7.8 | 7.4 | 6.2 | 8.6 | 9.3 | 13.0 | 13.3 | 10.3 | 8.7 |
| 22.4 | 16.0 | 16.7 | 14.0 | 10.6 | 15.9 | 17.7 | 25.7 | 23.5 | 15.2 | 11.7 |
| 14.2 | 10.8 | 10.9 | 10.2 | 8.3 | 12.4 | 14.6 | 19.8 | 18.0 | 11.3 | 9.5 |
| 11.1 | 8.7 | 8.9 | 7.3 | 5.4 | 9.0 | 10.6 | 16.2 | 14.8 | 8.9 | 6.5 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
AVT Natural Products Ltd. is a leading Indian manufacturer of natural plant-based extracts and solutions, serving the global Food, Feed, Nutraceuticals, Dermacosmetics, and Agri-inputs markets. The company leverages its deep botanical expertise, in-house R&D capabilities, and a vertically integrated supply chain to deliver science-backed, sustainable, and value-added natural ingredients.
With a strategic focus on diversification, innovation, and global expansion, AVT has successfully evolved from a core supplier of natural extracts into a solutions-driven enterprise across multiple high-growth sectors.
---
### **Core Business Segments (as of Aug 2023 – Present)**
AVT operates across **five primary product lines**:
1. **Marigold Extracts** – Used in eye health supplements, natural food coloring, and poultry pigmentation.
2. **Spice Oleoresins & Oils** – Flavoring and coloring agents for food and beverages, with emphasis on value-added specialty products.
3. **Value-Added Teas** – Includes decaffeinated, instant, and functional tea products; a major revenue and growth driver.
4. **Animal Health & Nutrition Products** – A growing segment targeting global livestock and aquaculture feed markets.
5. **Rosemary Extract** – Natural antioxidant with strong demand in food preservation and health applications.
In recent years, AVT has expanded into three new strategic verticals:
- **Dermacosmetic Ingredients**
- **Nutraceuticals**
- **Biological Crop Inputs**
These new divisions reflect a shift from product-centric to **solution-based selling**, underpinned by clinical validation and scientific research.
---
### **Strategic Growth Initiatives (2024–2025)**
#### **1. Expansion in Animal Nutrition**
- Despite challenges such as viral outbreaks in poultry and political instability in key Latin American (LATAM) markets, the division has achieved **sustained growth** driven by strong ROI and product efficacy.
- **New customers** have completed product trials and are entering commercial agreements.
- Partnerships with global feed additive leaders (e.g., **Nutreco**, Kemin) have enabled **co-development of innovative products** and enhanced global reach.
- Direct operations and strategic alliances are strengthening presence in **Latin America, Southeast Asia, and North America**.
#### **2. Growth in Value-Added Tea Segment**
- This segment continues to be a **major growth engine**, with sales exceeding 1,000 metric tons annually.
- The company is investing in **capacity expansion** and aims to **double the business** in the coming years.
- Targeted outreach to multinational clients is increasing AVT’s share in their global supply chains.
#### **3. Launch of New Divisions**
- **Dermacosmetic Division**:
- Completed **clinical studies** and has initiated **manufacturing and marketing**.
- Commercialization underway in **North America and Asia** via new sales partnerships.
- **Nutraceutical Division**:
- **Pre-clinical studies** complete; full **clinical trials scheduled for FY2025–2026**.
- Focus on human health supplements based on botanical actives.
- **Agricultural Crop Inputs (Crop Science Division)**:
- Finalized product portfolio and completed **test marketing**.
- Official **commercial launch planned for FY2026**, targeting corporate farmers in India.
- Products aim to **reduce dependency on chemical pesticides** and promote **sustainable agriculture**.
---
### **Global Footprint & Subsidiaries**
AVT Natural Products has established a robust **international presence** through wholly owned subsidiaries:
- **AVT Natural Europe Ltd. (UK)** – Key hub for European sales and marketing.
- **AVT Natural S.A. de C.V. (Mexico)** – Handles Latin American market operations.
- **AVT Natural North America Inc. (USA)** – Manages North American business; a subsidiary of AVT Europe.
- Previously included AVT Tea Services North America LLC (now consolidated under broader structure).
These subsidiaries support **global distribution**, customer engagement, and regulatory compliance across key markets.
---
### **Key Strategic Partnerships**
- **Kemin Industries (USA)**: 5-year strategic agreement (since 2020) for the supply of **rosemary extract**, enhancing production stability and meeting rising global demand for natural antioxidants.
- **Nutreco**: Global strategic alliance for **joint development and commercialization** of animal nutrition products; operations launched in Q1 FY2024–25.
- Additional **co-development initiatives** with leading global feed additive partners are ongoing, accelerating innovation and market access.
---
### **R&D & Innovation**
The company is heavily investing in science-led product development:
- **Process innovations** and **extraction technology upgrades** have improved yield and reduced costs.
- Active **hybrid seed development program** for marigold, with 1,000+ acres under cultivation (as of 2021), aimed at improving crop efficiency and reducing input costs.
- Ongoing **pre-clinical, clinical, and field studies** for derma-cosmeceuticals, nutraceuticals, and biological agri-inputs to ensure scientific credibility.
- Focus on **functional ingredients** with application in health, sustainability, and performance across food, feed, and agricultural sectors.
---
### **Manufacturing & Operations**
AVT operates **three manufacturing plants** located in:
- Sathyamangalam, Tamil Nadu
- Tiptur, Karnataka
- Aluva, Kerala
These facilities support processing of marigold, spices, tea, and other natural raw materials, underpinned by sustainable sourcing and quality compliance.
---
### **Leadership & Expertise**
**Mr. M.N. Satheesh Kumar**, a seasoned industry leader with over four decades of experience, has been instrumental in shaping AVT’s growth trajectory.
- **Education**: M.Sc (Hons.) Chemistry from BITS Pilani, PGDBA, and management training from ISB Hyderabad.
- **Career Highlights**:
- Began career at Chemical Construction International (1978), managing ~20 oilseed projects.
- Served as Project Manager at TANCOF under NDDB’s Oilseeds Mission (1988), overseeing 300+ cooperative societies.
- Profit Center Head at Goetze (India) Ltd. (1993), where he established a profitable vegetable oil unit within two years.
- Joined AVT in **June 1996**, bringing deep expertise in **agricultural procurement, processing, value addition, and operational excellence**.
---
### **Financials & Market Reach (as of Aug 2021)**
- **Total Revenue**: ₹4,704.29 crores (₹47,042.89 lakhs)
- Domestic: ₹608.51 crores (₹6,085.14 lakhs)
- International: ₹4,095.77 crores (₹40,957.75 lakhs) – ~87% of total revenue
- Operates in a **single reporting segment** (solvent-extracted natural products), with no material geographic segmentation, highlighting its integrated global model.