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Venky's (India) Limited (VENKEYS) Fair Value & Analysis

Consumer Defensive · IN · Market cap ₹20.1B

VS Venky's (India) Limited VENKEYS · NSE
Price₹1,531
Fair Value₹1,719
Upside+12.3%
Quality62/100
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Healthy Growth
Thin margins · 3.7% net margin
Low debt · generates free cash flow
0.71% dividend yield
Ranks above peers (9/14)
Narrow moat 37/100
Evidence: High Range ₹1,183 – ₹2,162 Share as image

Fair value as of: Aug 13, 2026

From 26 valuation models · updated 4 days ago

Share price +5.5% over the past month.

A solid business, screening 12% undervalued on our models.

What matters now

  • A fairly wide model range (₹1,183 to ₹2,162) leaves room in how you read the outcome.
  • Our model range runs from ₹1,183 (bear) to ₹2,162 (bull), base ₹1,719. The closer the price sits to the lower half, the larger the margin of safety.
  • Quality 62/100 (solid quality) with high evidence: the data supports the verdict.
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Price vs Fair Value (5 years)

₹3,579 ₹1,171 Fair Value ₹1,719 Apr 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range ₹1,171 – ₹3,579 · fair‑value band ₹1,183 – ₹2,162 · the ₹1,531 price screens below the ₹1,719 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Venky's (India) Limited (VENKEYS) currently trades at ₹1,531, while our model-based Fair Value estimate is ₹1,719, implying the stock looks roughly 12.3% undervalued today. The Quality Score stands at 62/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Venky's (India) Limited generated revenue of ₹37.3B at a net margin of 3.7%. Revenue grew 30.5% year over year. It earns a return on equity of 9.1%. Net debt stands at ₹756M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹1,183 (bear case) to ₹2,162 (bull case); at ₹1,531, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 15% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 97% fair-value upside, at 12%, VENKEYS screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
Growth DCF ₹1,337 ₹2,165 ₹3,500 80
Residual Income ₹958.65 ₹1,042 ₹1,400 76
Rev-Margin DCF ₹1,130 ₹1,811 ₹2,642 74
All 26 models by family
DCF Models
FCF DCF ₹1,330 ₹2,188 ₹3,584 38
Owner Earnings ₹1,216 ₹1,998 ₹3,269 31
5Y Revenue Exit ₹1,130 ₹1,815 ₹2,711 39
5Y EBITDA Exit ₹1,284 ₹2,118 ₹3,122 41
5Y P/E Exit ₹1,421 ₹2,387 ₹3,444 38
10Y Revenue Exit ₹1,156 ₹1,814 ₹2,749 36
10Y EBITDA Exit ₹1,288 ₹2,031 ₹3,077 37
10Y P/E Exit ₹1,377 ₹2,222 ₹3,334 35
Earnings-Based
Graham-Dodd ₹672.16 ₹2,586 ₹3,505 54
Lynch FV ₹631.74 ₹902.48 ₹1,173 50
PEG = 1.0 ₹631.74 ₹902.48 ₹1,173 46
EPV ₹792.54 ₹915.00 ₹1,022 59
Dividend Discount
Gordon GGM ₹92.88 ₹193.11 ₹306.35 70
DDM Multi-Stage ₹92.88 ₹162.84 ₹202.68 61
Multiples
P/E Multiple ₹1,557 ₹2,076 ₹2,595 63
P/S Multiple ₹1,260 ₹1,680 ₹2,101 58
P/B Multiple ₹1,260 ₹1,680 ₹2,101 55
EV/EBIT ₹1,460 ₹1,928 ₹2,396 53
EV/EBITDA ₹1,387 ₹1,830 ₹2,273 54
EV/Revenue ₹1,059 ₹1,488 ₹1,917 43
Asset-Based
NCAV (Graham) ₹566.50 ₹759.11 ₹1,133 50
Growth DCF
Growth DCF ₹1,337 ₹2,165 ₹3,500 80
Rev-Margin DCF ₹1,130 ₹1,811 ₹2,642 74
Economic Profit
Residual Income ₹958.65 ₹1,042 ₹1,400 76
ROIC Compounder ₹792.54 ₹915.00 ₹1,022 72
Growth Earnings
Growth-Adj P/E ₹1,142 ₹1,632 ₹2,121 68

Widest divergence: DCF Models (₹2,031) versus Dividend Discount (₹162.84). Highest evidence: Growth DCF (80).

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Key figures & financial health

Revenue (TTM) ₹37.3B
Revenue growth (YoY) +30.5%
Net margin 3.7%
Return on equity 9.1%
Free cash flow ₹1.5B FY2026
P/E ratio 15.5
More key figures
Operating margin 10.9%
EPS (TTM) ₹98.86
Dividend yield 0.7%
EPS growth (YoY) +663%
Net debt ₹756M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 62/100

Of which business quality 62 · Market factors (momentum, volatility) 55

Profitability 52
Margins and returns on capital today
Quality Growth 44
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 74
Balance sheet, leverage, solvency risk
Investment 80
Disciplined investing over empire-building
Low Volatility 75
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 50
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Venky's (India) Limited primarily engages in the production and sale of poultry products in India and internationally. It operates through three segments: Poultry and Poultry Products, Animal Health Products, and Oilseed.

Full company description

Venky's (India) Limited primarily engages in the production and sale of poultry products in India and internationally. It operates through three segments: Poultry and Poultry Products, Animal Health Products, and Oilseed. The Poultry and Poultry Products segment produces and sells day old broiler and layer chicks, pathogen free eggs, processed chicken products, grownup commercial broiler, poultry feed, and other miscellaneous poultry products. Its Animal Health Products segment produces and sells medicines and other health products for birds. The Oilseed segment produces and sells edible refined soya oil and soya de-oiled cake. It also provides nutritional supplements, toxin binders, liver tonics, acidifiers, health promoters, iron tonic, antibiotics, anti-mycoplasma, dewormers, anti-gout, and electrolytes; disinfectants, water sanitizers, cleaners, and equipment; vitamin premixes and prebiotics; sports and medical nutrition, therapy products; egg powders; vaccines; and feed supplements. In addition, it provides PDRC; IMPT; and import and export services. The company was formerly known as Western Hatcheries Limited. Venky's (India) Limited was incorporated in 1976 and is based in Pune, India. Venky's (India) Limited is a subsidiary of Venkateshwara Hatcheries Private Limited.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Venky's (India) Limited reported revenue of ₹37.3B in FY2026 versus ₹44.0B in FY2022, a compound −4.1%/yr. Reported net income was ₹1.4B in FY2026, compounding −4.1%/yr from FY2022.

Growth Quality 62/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2026)
₹37.3B
Latest YoY
+12.7%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
−4.2%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+3.6%
Avg. growth/yr (21Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+12.0%
Revenue −4.1%/yr
FY22 ₹44.0B
FY23 ₹42.3B
FY24 ₹37.4B
FY25 ₹33.1B
FY26 ₹37.3B
Net income −4.1%/yr
FY22 ₹1.6B
FY23 ₹705M
FY24 ₹791M
FY25 ₹1.2B
FY26 ₹1.4B
Character of growth · EPS growth decomposed (2015-2026) +7.6 % p.a.
Revenue per share +6.1 pp

of which total revenue +6.1 pp · buybacks/dilution +0.0 pp

EBIT margin −8.6 pp
Tax rate +1.9 pp
Residual (interest, one-offs) +8.3 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

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Cite: Fair Value Calculator (2026). "Venky's (India) Limited Fair Value". https://www.fairvalue-calculator.com/stock/VENKEYS

Peer Group

Farm Products · 297 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 62 · Above median
Fair Value upside +12% · Above median
Return on equity (TTM) 9% · Above median
Return on assets 4% · Above median
Net margin (TTM) 4% · Above median
Operating margin (TTM) 11% · Above median
Revenue growth 31% · Top 25%
Dividend yield (TTM) 0.7% · Bottom 25%
Debt / equity 0.01× · Lower than 75% of peers

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 15.5× · Pricier than median
P/B 1.26× · Pricier than median
P/S (TTM) 0.54× · Pricier than median
P/FCF 0.1× · Cheaper than 75% of peers
EV/EBITDA 10.1× · Pricier than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 50 · sector 26
FUTURE 100 · sector 22
PAST 36 · sector 18
HEALTH 100 · sector 95
DIVIDEND 14 · sector 48

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Farm Products stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.15 ¥47.42 +18%
Charoen Pokphand Foods Public Company CPF 21.90 THB 43.24 THB +97%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,150 IDR 6,818 IDR +116%
PT Triputra Agro Persada Tbk TAPG 1,805 IDR 3,087 IDR +71%
PT FAP Agri Tbk FAPA 7,350 IDR 6,420 IDR -13%
PT Japfa Comfeed Indonesia Tbk JPFA 2,260 IDR 6,974 IDR +209%
PT Jhonlin Agro Raya Tbk JARR 1,890 IDR 610.80 IDR -68%
PT Nusantara Sawit Sejahtera Tbk NSSS 860.00 IDR 402.24 IDR -53%
PT Sinar Mas Agro Resources and Technology Tbk SMAR 5,625 IDR 16,227 IDR +188%
PT Dharma Satya Nusantara Tbk DSNG 1,320 IDR 2,696 IDR +104%

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Frequently asked questions

Is Venky's (India) Limited (VENKEYS) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹1,719 versus a price of ₹1,531, about +12% (undervalued).
What is the fair value of VENKEYS?
Our model-based fair value for Venky's (India) Limited is ₹1,719 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹1,531.
What is the quality score of VENKEYS?
Venky's (India) Limited has a Quality Score of 62/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Venky's (India) Limited (VENKEYS)?
Venky's (India) Limited reported trailing-twelve-month revenue of about ₹37.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of VENKEYS?
The net profit margin of Venky's (India) Limited is about 3.7%, meaning it keeps roughly 3.7% of revenue as net income. Based on the latest reported figures.
Does Venky's (India) Limited pay a dividend?
Venky's (India) Limited currently shows a dividend yield of about 0.71% relative to its recent price (as of Aug 13, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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