Growth outlook

The Indian poultry sector is expected to achieve 4–6% revenue growth this fiscal year, fuelled by "steady consumption growth, driven by rising rural demand, higher per capita meat consumption, and a growing preference for protein-rich diets."

Operating margins are projected to decline by 80–100 basis points due to lower broiler prices in the first half, partially offset by subsequent price recovery and favourable feed costs.

Segment performance

Broiler segment: Revenue growth at 1–3% (prices down 4–6% YoY); sales volume projected to grow 6–8% to 5.86 lakh tonnes.

Layer (egg) segment: Revenue growth of 7–9%; volumes expected to rise 4–6% to 15,750 crore eggs.

Per capita egg consumption at 102 eggs annually remains "significantly below the global average of 218, indicating substantial growth potential."

Feed costs and risks

Soy prices expected at Rs 35–37/kg; maize at Rs 24–25/kg. Key risks: feed price volatility, bird flu outbreaks, and slower-than-expected consumption growth.