Annual reportSep 2026
Sep 2026 · General Updates 1 Sep - Proventus Agrocom schedules 11th AGM on September 24, 2026; annual report and e-voting dates announced.
Source: Nse
Proventus Agrocom Ltd. (PROV)
SME CapConsumer stocks · SME cap · NSE
Proventus Agrocom Ltd. is an Indian company focused on dry fruits and wholesome nutrition. It aims to capitalize on the shift towards healthy snacking, with a strong emphasis on premium dry fruits, seeds, and makhana, leveraging direct sourcing and expanding manufacturing capabilities.
₹1,851
-90.00 · -4.64%
Market cap ₹639 Cr
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals20 Oct 2026 · screener
Latest result16 May, 04:15 am IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
52NeutralSMA20 +2.0% / mo · MACD − · near 52W high · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 62
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
PROVD candles · FIT view+44.0%Latest close ₹1851.00 on 2026-10-19
Bar
-4.6%
RSI
47
MACD hist
-9.41
52W pos
81%
2026-10-19O ₹1941.00H ₹1941.00L ₹1851.00C ₹1851.00Vol 240 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
PROVNifty Consumer DurablesNifty 500
- PROV
- +8.7%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +14.3 pp
Chart stats
19 Oct 2026- From 52W high
- -9.7%
- 52W range position
- 84%
- ATR (14)
- 3.0%
- Volume vs 20D
- 0.36x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹1,650 - ₹2,050
₹2,050
₹815.1 - ₹2,050
₹55.6
Latest completed session
20-session average
56.1% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST40
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good72
Revenue +82.6% · PAT +60.0% YoY
Technical
Neutral52
Price trend and sector-relative-strength timing.
Valuation
Legacy model-35.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence67
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Good · 72/100Rev +83% YoY · PAT +60% YoY · +37% QoQ · margin compression
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹535 Cr | +82.6% | +37.2% |
| EBITDA | ₹10 Cr | NDF | +11.1% |
| Operating margin | 1.8% | NDF | -50 bps |
| PAT | ₹8 Cr | +60.0% | +14.3% |
| PAT margin | 1.5% | NDF | -29 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 46.10
- P/B
- 4.43
- EV/EBITDA
- 33.30
- Market Cap
- 639.00Cr
Profitability
- ROE
- 10.10%
- ROCE
- 11.50%
- ROA
- 7.07%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 25.00%
- EPS 5Y
- 51.00%
- Revenue 3Y
- 30.00%
- EPS 3Y
- 56.00%
Balance Sheet
- Debt/Equity
- 0.19
- Interest Coverage
- 19.00×
- Altman Z
- 10.58
- Book Value
- 418.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- 9.00 Cr
- EPS TTM
- 40.95
Shareholding
- Promoter Hold
- 67.21%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 81%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 535+37.2% vs prev
Net Profit
₹ CrLatest: 8.0+14.3% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend unclear. RSI 47. Wait for confirmation.
- SMA20 rising (~2.0% over last month) — short-term momentum positive.
- RSI(14) at 47 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 10% off 52W high · 81% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
93
RS percentile
Stage 2 UptrendEstablished S2
1M return
+7.6%
3M return
+21.0%
6M return
+58.9%
1Y return
+91.8%
RS 1D
-1
RS 20D
+5
Sector rank
#9
Industry rank
#35
Stage evidence
- Price is 22.2% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +5.9%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
07 Apr 2026
S2 age
112 trading sessions
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
214 observations
19 Oct 2026Value 157.78-3.65%
RS vs Nifty 500158
Valuation & peers
U-Score 40 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 40 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth20/25
Quality5/20
Balance Sheet9/15
Cash Flow1/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
40
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
40/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 7/9.
- Growth contributes 20/25 to the score.
- Balance sheet contributes 9/15 to the score.
Main drags
- Fair-value margin of safety is negative at -35.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 1/10; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
46.1
PB
4.4
EV/EBITDA
33.3
ROE
10.1%
ROCE
11.5%
FCF Yield
—
Debt/Equity
0.2
MoS
-35.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
40
Previous: 40
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-35.7%
Previous: -35.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
38
38
38
38
38
38
39
39
39
39
40
40
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹620.59
-198.3% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹1,363.64
-35.7% MoS
PEG
0.87
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHEETAL
SME
Sheetal Universal Ltd.
Agro Processing
match 86
44
36.5
23.3%
-12%
WATCHLIST
IFBAGRO
Small
IFB Agro Industries Limited
Agro Processing
match 81
44
13.7
8.9%
-23%
WATCHLIST
SHYAMDHANI
SME
Shyam Dhani Industries Ltd.
Agro Processing
match 81
54
12.8
18.5%
+61%
FAIR VALUE
SAIFL
SME
Sameera Agro And Infra Ltd.
Agro Processing
match 79
61
1.7
11.4%
+95%
UNDERVALUED
BCLIND
Small
Bcl Industries Limited
Agro Processing
match 77
75
7.9
13.4%
+78%
DEEP VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-21T11:42:21.196Z
Management commentary snapshot
Proventus Agrocom reported strong FY26 results with revenue up 58% YoY to ₹659 Cr and PAT up 93% YoY to ₹14.26 Cr. Gross margin expanded 240 bps to 22.1%, driven by a shift towards higher-margin 'Wholesome Nutrition' products.
Management has consistently delivered on stated goals, with FY26 performance showing strong top-line growth and margin expansion. The strategic pivot to 'Wholesome Nutrition', particularly Makhana, appears well-timed to capture structural shifts in Indian consumption. Execution on capacity and distribution will be key to sustaining momentum and achieving the ambitious FY28 revenue target.
Current business mix
Revenue by Product Category
Latest issuer-disclosed distribution across 2 reported categories.
Core Dry Fruits52.0%
Wholesome Nutrition48.0%
Growth engines
Wholesome Nutrition Shift
Wholesome Nutrition now 48% of revenue, up from 42% in FY25, driving margin expansion.
Makhana Market Growth
Makhana market grown 6x in 5 years, 25-30% CAGR, projected to outsell almonds in 5-7 years.
Organised Market Share Gain
Organised players growing 2.5x faster, ProV leading the shift with strong distribution.
Distribution Expansion
Increased marketing spends (5.4x) and sales force (4.4x) driving PAN India presence and 16,000+ GT touchpoints.
Capacity and execution
Surat Plant
2,00,000 sq.ft. unit, 4L+ pouches/day capacity, under construction, fully operational H1FY27.
Bihar Plant
2.5K tonnes/year capacity, primary focus on Makhana, Phase 1 operational, backward integration at source.
Tailwinds
Health & Snacking Shift
Indians moving to healthier alternatives; premium products going mainstream; snacking shifting from occasional to routine.
Makhana Boom
Makhana market growing at 25-30% CAGR, becoming India’s next everyday snack.
GST & Policy Tailwind
GST rationalisation on dry fruits creates pricing advantage for organised players, benefiting scale.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
The presentation focuses on annual financial results (FY26 vs FY25) and long-term CAGRs, making year-over-year comparison most relevant for assessing overall business growth and margin trends.
Sector KPIs management disclosed
Gross Margin
22.1% in FY26, up from 19.7% in FY25 (+240 bps YoY).
Revenue CAGR (5-year)
54% from FY21 to FY26.
Marketing Spends
₹75 Cr in FY26, a 5.4x increase from FY24.
Sales Force
350 people in FY26, a 4.4x increase from FY24.
Management forward view
FY28 Revenue Target
Revised to ₹1,100 Cr from ₹1,000 Cr, reflecting confidence in the model.
Focus on Capabilities
We do not chase milestones. We build capabilities.
Healthy Snacking as Habit
Healthy snacking in India is becoming a daily habit, ProV's journey aligns with this structural shift.
Makhana as Core
Makhana is at the heart of the wholesome nutrition shift.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Wholesome Nutrition Share | 48% of revenue (FY26) | 58%+ share by FY28 |
| Manufacturing Capacity | Phase 1 of Bihar operational | 4L+ pouches/day by mid-CY2026 (Surat commissioning H1FY27) |
| Quick Commerce Share | Not specified | 10%+ Quick Commerce share |
| FY28 Revenue Target | ₹659 Cr (FY26) | Achievement of ₹1,100 Cr |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
67Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 52nd percentile of the scored universe and 55th percentile within Consumer. Main check: cash conversion is weak at 43/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
8 docs text-extracted · 3 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
52nd percentile
overall median 67 · Consumer: 55th pctile, median 66 · SME: 66th pctile, median 64
Evidence depth
Financial-only
8 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
43
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
63
acceptable · quarterly consistency
Trust positives
- ▸Promoter holding is 67.2%.
- ▸Promoter pledge is zero.
- ▸OPM spread across recent quarters is 0.7%.
Trust risks
- ▸Promoter holding fell 3.5%.
- ▸Only 0 years of positive FCF.
- ▸Profit margin is 2%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Proventus Agrocom Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationMay 2026
May 2026 · PPT
Source: Nse
Concall transcript
Analysts/Institutional Investor Meet/Con. Call Updates 22 May - FY26 earnings call transcript: revenue INR925 crore, PAT INR14.26 crore; Surat facility due H1 FY27.
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Concall transcriptMay 2025
May 2025 · Transcript
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.