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Every day, thousands of Indian kitchens heat up a pan with Kriti Oil, without ever knowing where it comes from. But behind that familiar pouch is a quiet powerhouse in Madhya Pradesh that’s been turning soybeans into everything from cooking oil to baby food ingredients for over 30 years.
This is the story of Kriti Nutrients; a company that started with edible oil but now exports to 20+ countries, supplies global brands like Nestlé and Danone, and feeds not just homes, but pharma labs, poultry farms, and food factories. FY25 wasn’t about splashy headlines. It was about strong margins, rising profits, and a business model that’s finally starting to show its full strength.
By the numbers:
- Market capitalisation: ₹606 crore
- FY25 revenue: ₹734 crore
- FY25 net profit: ₹37 crore
- Exports: 13% of revenue
At the core of Kriti’s business is soy. The company processes non-genetically modified (non-GMO) soybean at its Dewas facility in Madhya Pradesh. This includes crushing 700 tonnes per day (TPD) of soybean seeds and refining up to 225 TPD of crude oil into packaged products like soybean oil, sunflower oil, and mustard oil for retail. These are sold across 20,000+ outlets through a network of over 200 distributors.
But where Kriti is really turning up the value is in its industrial soy ingredients. It produces soya lecithin: a naturally occurring emulsifier used in pharmaceuticals, chocolates, infant formula, and dairy as well as defatted soy flakes and a high-protein by-product called Super HyPro SBM (Soybean Meal), which is commonly used in animal and poultry feed. These are sold not just in India, but exported to the US, Europe, Australia, and parts of Asia and Africa.
Its client list includes some big names: Nestlé, Mondelez, Sun Pharma, Sandoz, ITC, and Danone among them. That kind of credibility takes years to build and for a company of this size, it gives Kriti Nutrients both volume stability and margin advantage.
Speaking of margins, that’s where the company has quietly improved. In FY25, its net profit margin rose to 7% from just 4% two years ago. It generated ₹32 crore in cash from operations and remains virtually debt-free. Metrics like ROCE (Return on Capital Employed, which measures how efficiently a company uses its money to generate profits) stood at 25%, and ROE (Return on Equity) at 19%; a sign that capital isn’t just being preserved, but grown.
Still, the company isn’t without risks. Soybean prices fluctuate based on global supply and crop cycles, and Kriti’s heavy dependence on the edible oil segment (78% of its revenue) could limit diversification unless its value-added products scale faster. Global competition in soy ingredients is rising, and growth in exports will need consistent quality, certifications, and logistical scale.
Yet, in an industry known for commodity churn and low margins, Kriti Nutrients has kept it lean and disciplined. No flashy expansions, no high-risk bets, just a steady move toward better products, wider markets, and stronger balance sheets.
At a time when most food businesses chase trends, Kriti is quietly doubling down on the basics like oil, protein, trust, and consistency. That’s not just good business. That’s good food sense.
FAQs
What is the business of Kriti Nutrients Ltd?
Kriti Nutrients Ltd is a soybean processing company based in Madhya Pradesh. It manufactures refined edible oils under the Kriti brand and also produces soy-based ingredients like protein meal and lecithin. These products are used by industries in food processing, pharmaceuticals, animal feed, and exports.
Is Kriti Nutrients a part of any corporate group?
Yes, Kriti Nutrients is part of the Indore-based Kriti Group, which operates across polymers, agriculture, and infrastructure. The group includes Kriti Industries (India) Ltd and has a strong presence in Central India through multiple business verticals.
What are the main products offered by Kriti Nutrients?
Kriti Nutrients produces refined soybean oil for household use, along with industrial soy products like soya lecithin (used in chocolates, infant food, and medicine) and protein-rich soy meal for animal and poultry feed. It also offers sunflower and mustard oil in select markets.
Who are the major customers of Kriti Nutrients Ltd?
Kriti Nutrients serves leading companies such as Nestlé, Sun Pharma, ITC, Mondelez, Sandoz, and Danone. These clients use Kriti’s soy-based ingredients in processed foods, pharmaceuticals, dairy products, and infant nutrition.
What percentage of Kriti Nutrients' revenue comes from exports?
Exports contributed around 13% of Kriti Nutrients' total revenue in FY25. The company exports its soy-based products to countries across the USA, Europe, Asia, South America, and Australia, with a growing global client base.
Is Kriti Nutrients a debt-free company?
Yes, Kriti Nutrients Ltd is virtually debt-free. As of FY25, the company reported strong cash flows and minimal borrowings, maintaining a clean balance sheet with healthy return ratios and efficient working capital management.
What are the key risks for Kriti Nutrients investors?
Kriti Nutrients faces risks such as soybean price volatility, seasonal crop dependency, and high revenue concentration from edible oils. Global competition and regulatory hurdles in export markets are additional concerns that could affect its growth trajectory.
How has Kriti Nutrients' share performed since listing?
Since its listing in 2022, Kriti Nutrients' stock has delivered over 120% returns. The share price has risen steadily, supported by improving financials, higher margins, and increasing investor interest in value-added agri-processing companies.
Does Kriti Nutrients pay dividends regularly?
Yes, Kriti Nutrients has a consistent dividend history. For FY25, the company announced a ₹0.30 per share dividend, reflecting its steady profitability and shareholder-friendly approach despite operating in a cyclical sector.
What is the future growth plan of Kriti Nutrients Ltd?
Kriti Nutrients plans to expand its focus on high-margin soy products like lecithin and protein meal, targeting growth in the food and pharma export markets. It is also strengthening its distribution network and looking to increase its presence in Gujarat, Maharashtra, and Rajasthan.
