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Edible oils & packaged foods Historical case study · data as of 17 Jul 2026 · published 21 Oct 2026 (96 days later)

Patanjali Foods — 100-point case study

How Patanjali Foods looked on 50 technical and 50 fundamental measures on 17 Jul 2026 — and what happened over the next three months. Education only; not a current view.

Codes	NSE: PATANJALI · BSE: 500368
Close on 17 Jul 2026	₹337.70
Market cap then	₹36,725 crore
Valuation	P/E 20.2× · P/B 2.80×
Momentum	RSI (14) 11 · 1-year return -46.9%
Next 3 months	+8.0% vs Nifty 50 -5.9% (to 19 Oct 2026)

Scorecard

Technical — 50 points

0 bullish · 13 neutral · 6 caution · 30 bearish — the picture leaned negative.

Fundamental — 50 points

6 bullish · 34 neutral · 5 caution · 4 bearish — the picture was mixed.

Price chart

Close (to snapshot) Close (after) 50-day avg 200-day avg Support Resistance

Data note: A 2:1 bonus issue went ex on 11 Sep 2025; prices are bonus-adjusted. Screener's consolidated history has no data for FY2020–FY2024, so some multi-year comparisons show n/a.

Technical analysis — 50 points

Calculated by code from daily prices up to 17 Jul 2026. Standard formulas (RSI, MACD, ADX use Wilder smoothing).

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Trend

#	Point	Reading	Tag	Commentary
1	Short-term trend (20 days)	slope -0.73%/day	Bearish	Over the last 20 sessions the regression line of closing prices was falling about 0.73% a day — a short-term downtrend. Bullish slope above +0.10% a day (short-term uptrend) · Bearish slope below –0.10% a day (short-term downtrend) · Neutral between the two: a flat, sideways phase.
2	Medium-term trend (~5 months)	3M return -27.4%	Bearish	The 100-session trend line was down (-0.27%/day) and the stock was -27.4% over three months, so the medium-term picture was bearish. Bullish slope above +0.05% a day · Bearish slope below –0.05% a day · Neutral in between.
3	Long-term trend (1 year)	1Y return -46.9%	Bearish	Compared with a year earlier the price was -46.9%. A weak year for the stock. Bullish up more than 10% in a year · Bearish down more than 10% in a year · Neutral between –10% and +10%.
4	Weekly chart trend	10W 422.52 / 30W 474.03	Bearish	On the weekly chart the stock showed a weekly close below the 10-week average, which sat below the 30-week. Bullish weekly close above the 10-week average, which is above the 30-week · Bearish weekly close below the 10-week average, which is below the 30-week · Neutral when they are tangled.
5	Swing structure (highs/lows)	last highs 435.05→417.50; lows 408.15→406.35	Bearish	The two most recent swing points showed lower swing highs and lower swing lows — classic downtrend structure. Bullish higher highs and higher lows (uptrend structure) · Bearish lower highs and lower lows (downtrend structure) · Neutral when one is higher and the other lower.
6	ADX (14) — trend strength	49.4	Bearish	ADX at 49.4 shows a strong trend in force. ADX measures strength only, not direction. Bullish ADX 20 or more with +DI above –DI (a real trend, pointing up) · Bearish ADX 20 or more with –DI above +DI (a real trend, pointing down) · Neutral below 20: no clear trend. 20–30 is a moderate trend, above 30 a strong one.
7	+DI vs –DI	+DI 3.7 / –DI 52.3	Bearish	–DI was above +DI: sellers had the upper hand in directional movement. Bullish +DI above –DI · Bearish –DI above +DI · No neutral zone for this point.

B. Moving averages

#	Point	Reading	Tag	Commentary
8	Price vs 20-day SMA	403.01 (-16.2%)	Bearish	Close of 337.70 was 16.2% below the 20-day SMA — the short-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
9	Price vs 50-day SMA	427.83 (-21.1%)	Bearish	Close of 337.70 was 21.1% below the 50-day SMA — the medium-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
10	Price vs 200-day SMA	507.15 (-33.4%)	Bearish	Close of 337.70 was 33.4% below the 200-day SMA — the long-term trend filter was negative. Bullish close above the average · Bearish close below the average · No neutral zone.
11	9 / 21 EMA crossover	9E 378.37 / 21E 398.71	Bearish	The 9-day EMA was below the 21-day EMA; the last crossover happened on 27 May 2026. Bullish 9-day above 21-day · Bearish 9-day below 21-day · No neutral zone.
12	Golden / death cross (50 vs 200)	no cross in data window	Bearish	The 50-day average was 15.6% below the 200-day. No 50/200 crossover occurred in the data window. Bullish 50-day above 200-day (after a “golden cross”) · Bearish 50-day below 200-day (after a “death cross”) · No neutral zone.
13	50-day SMA slope	-5.4% in 20 sessions	Bearish	The 50-day average fell 5.4% over the past month — declining. Bullish rose more than 0.5% · Bearish fell more than 0.5% · Neutral in between: flattening.
14	MA ribbon alignment	403 / 428 / 455 / 507	Bearish	The 20/50/100/200-day averages were perfectly stacked bearish (20 < 50 < 100 < 200). Bullish neatly stacked 20 > 50 > 100 > 200 · Bearish neatly stacked 20 < 50 < 100 < 200 · Neutral when tangled (a transition or range).
15	Monthly anchored VWAP	367.65 (-8.1%)	Bearish	Anchored to the start of July, the volume-weighted average price was 367.65; the close was below it — buyers that month were on average under water. Bullish close above VWAP (that month’s buyers on average in profit) · Bearish close below VWAP · No neutral zone.

C. Momentum

#	Point	Reading	Tag	Commentary
16	RSI (14)	11.2	Caution	RSI at 11.2 was oversold (≤30) — weak but stretched to the downside, where bounces often occur. Bullish RSI 55–70 (positive momentum, not stretched) · Bearish RSI 30–45 (soft momentum) · Neutral 45–55. Caution at 70 or above (overbought) or 30 or below (oversold).
17	RSI divergence (last 40 days)	none	Neutral	Comparing the last 20 sessions with the 20 before: no divergence — RSI moved in line with price. Bullish bullish divergence: price made a lower low but RSI a higher low · Caution for a bearish divergence (price higher high, RSI lower high). Neutral when RSI moved in line with price.
18	MACD line vs signal	MACD -18.46 / signal -11.54	Bearish	MACD was below its signal line — momentum turning or staying negative. Bullish MACD above signal · Bearish MACD below signal · No neutral zone.
19	MACD histogram (5-day change)	1.09 → -6.92	Bearish	The histogram fell over the last five sessions, meaning momentum was weakening. Bullish histogram rising (momentum improving) · Bearish histogram falling (momentum weakening) · No neutral zone.
20	MACD vs zero line	-18.46	Bearish	MACD below zero means the 12-day EMA was below the 26-day EMA — a negative momentum regime. Bullish MACD above zero · Bearish MACD below zero · No neutral zone.
21	Stochastic (14,3,3)	%K 18.0 / %D 18.4	Caution	Slow stochastic at 18.0 was in oversold territory (<20). Bullish between 20 and 80 with %K above %D · Bearish between 20 and 80 with %K below %D · Caution above 80 (overbought) or below 20 (oversold).
22	Williams %R (14)	-89.4	Caution	%R of -89.4 put the close near the bottom of its 14-day range. How to read: Caution above –20 (near the top) or below –80 (near the bottom). Neutral in the middle. This point is never tagged Bullish or Bearish.
23	CCI (20)	-264	Bearish	CCI at -264 signalled an unusually strong downward deviation (<–100). Bullish above +100 (unusually strong upward move) · Bearish below –100 (unusually strong downward move) · Neutral within ±100.
24	Rate of change (10-day)	-18.4%	Bearish	Price changed -18.4% over ten sessions. Bullish up more than 2% · Bearish down more than 2% · Neutral between –2% and +2%.

D. Volatility

#	Point	Reading	Tag	Commentary
25	Bollinger Band position (%B)	%B -0.14 (bands 351.88–454.14)	Caution	%B of -0.14 — close below the lower band, an overextended drop. How to read: Caution above 1 or below 0 (outside the bands — an overextended move). Neutral inside the bands.
26	Bollinger width / squeeze	width 25.4% (99th pct of 6M)	Neutral	Band width was at the 99th percentile of the last six months, so volatility was elevated. How to read: Caution when the width is in the lowest 15% of six months (a “squeeze” that often comes before a bigger move, direction unknown). Neutral otherwise.
27	ATR (14)	₹13.27 (3.9% of price)	Neutral	A typical day's range was about ₹13.27, or 3.9% of the price — useful for judging how much 'normal noise' to expect. How to read: Information only. A higher % means bigger normal daily swings.
28	Historical volatility (30-day)	47.1% vs 1Y 27.2%	Caution	Annualised 30-day volatility was 47.1%, well above the one-year level of 27.2%. How to read: Caution when 30-day volatility is more than 1.25× the one-year level. Neutral otherwise.
29	Keltner Channel (20, 2×ATR)	368.36–426.73	Bearish	The close was below the lower channel — a strong trending push. Bullish close above the upper channel (strong upward push) · Bearish close below the lower channel · Neutral inside the channel.
30	Beta vs Nifty 50 (1Y daily)	0.73	Neutral	A beta of 0.73 means the stock tended to move less than the Nifty 50 day to day. How to read: Information only. Above 1.1 moves more than the market, below 0.9 less, around 1 in line.

E. Volume & money flow

#	Point	Reading	Tag	Commentary
31	Volume vs 20-day average	last day 1.07× / 5-day 3.05×	Neutral	The final session traded 1.07× its 20-day average volume and the last five sessions averaged 3.05× — heavier than usual participation. How to read: Information only. Above 1.2× is heavier than usual participation, below 0.8× lighter.
32	Up-day vs down-day volume (20d)	ratio 0.27	Bearish	Average volume on up days was 0.27× that on down days — distribution-leaning. Bullish ratio above 1.15 (accumulation-leaning) · Bearish ratio below 0.85 (distribution-leaning) · Neutral between 0.85 and 1.15.
33	On-Balance Volume (20d)	OBV falling	Bearish	OBV fell over the month while price fell — volume confirmed the price move. Bullish OBV rising · Bearish OBV falling · No neutral zone.
34	Accumulation/Distribution line	falling (20d)	Bearish	The A/D line fell, meaning closes tended to be in the lower part of daily ranges on meaningful volume. Bullish A/D line rising · Bearish A/D line falling · No neutral zone.
35	Chaikin Money Flow (20)	-0.36	Bearish	CMF at -0.36 indicated net outflows. Bullish above +0.05 (net inflows) · Bearish below –0.05 (net outflows) · Neutral between –0.05 and +0.05.
36	Money Flow Index (14)	12.4	Caution	MFI, a volume-weighted RSI, was 12.4 — oversold. Bullish MFI 55–80 · Bearish MFI 20–45 · Neutral 45–55. Caution above 80 (overbought) or below 20 (oversold).
37	Liquidity (avg daily turnover)	₹260 cr/day	Neutral	About ₹260 crore changed hands per day on average over 20 sessions — liquid. How to read: Information only. Above ₹500 crore a day is highly liquid, above ₹50 crore liquid, below that moderately liquid.

F. Price levels

#	Point	Reading	Tag	Commentary
38	Support levels (S1/S2/S3)	328.20	Neutral	Nearest support (prior swing lows) sat at 328.20, 2.9% below the close. How to read: Information only. Levels to watch, not good or bad.
39	Resistance levels (R1/R2/R3)	417.50 / 435.05 / 463.75	Neutral	Nearest resistance (prior swing highs) sat at 417.50, 23.6% above the close, then 435.05, 463.75. How to read: Information only.
40	Monthly pivot points (for next month)	P 361.13 \| R1 394.07 \| S1 304.77	Neutral	Classic pivots from July's high/low/close gave a pivot of 361.13; the close was below it. How to read: Information only.
41	Fibonacci retracement (6M swing)	23.6% 384 \| 38.2% 418 \| 50.0% 446 \| 61.8% 474	Neutral	Measuring the 6-month fall from 564.20 to 328.20, the close was nearest the 23.6% retracement at 383.90. How to read: Information only.
42	52-week high / low	H 653.93 / L 328.20	Bearish	The close was 48.4% below the 52-week high and 2.9% above the 52-week low. Bullish within 5% of the 52-week high · Bearish within 5% of the 52-week low · Neutral in between.
43	Unfilled price gaps (6M)	none	Neutral	No unfilled price gaps in the last six months. How to read: Information only.

G. Patterns

#	Point	Reading	Tag	Commentary
44	Price structure / chart pattern	falling channel	Bearish	Rule-based pattern scan: falling channel — successive lower highs and lows. (Classical patterns like head-and-shoulders are judgement calls; we report only what the rules detect.) Bullish rising channel (both trends up) · Bearish falling channel (both trends down) · Neutral for tight consolidation, a bounce in a downtrend, a pullback in an uptrend, or a sideways range.
45	Breakout / breakdown (20-day)	range 328.20–427.30	Neutral	The close was inside the prior 20-day range of 328.20–427.30. Bullish close above the 20-day high (breakout) · Bearish close below the 20-day low (breakdown) · Neutral inside the range.
46	Latest candlestick	Ordinary red candle	Neutral	On 17 Jul the candle opened 349.85, ranged 334.00–351.00 and closed 337.70: Ordinary red candle. Single candles are weak signals on their own. Bullish hammer, bullish engulfing or bullish marubozu · Bearish shooting star, bearish engulfing or bearish marubozu · Neutral for a doji, inside bar or ordinary candle. Single candles are weak signals.
47	Ichimoku Cloud	cloud 438.64–449.32; Tenkan 372.35 / Kijun 381.62	Bearish	Price was below the cloud and the Tenkan line was below the Kijun line — a bearish Ichimoku setup. Bullish close above the cloud · Bearish close below the cloud · Neutral inside the cloud.

H. Relative strength & summary

#	Point	Reading	Tag	Commentary
48	Relative strength vs Nifty 50	1M -20.4% / 3M -27.9%	Bearish	The stock underperformed the Nifty 50 by 27.9 points over three months and underperformed by 20.4 points over one month. Bullish ahead of the Nifty 50 by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
49	Relative strength vs Nifty 50 (6M)	6M -34.2%	Bearish	No sector index in today's data set, so we show the 6-month comparison instead: 34.2 points behind the Nifty 50. Bullish ahead by more than 2 points · Bearish behind by more than 2 points · Neutral within ±2 points.
50	Technical summary	0 bullish · 30 bearish · 13 neutral · 6 caution	Bearish	Across the 49 readings the technical picture leaned negative. Levels that mattered: support 328.20, resistance 417.50. This is a description of the chart on 17 Jul 2026, not a forecast. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The chart is called positive when bullish tags beat bearish ones by 5 or more, negative when bearish tags beat bullish ones by 5 or more, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 5 or more (“positive”) · Bearish bearish tags beat bullish ones by 5 or more (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

Fundamental analysis — 50 points

Uses only results published by 17 Jul 2026: FY26 annual (Apr 2025–Mar 2026), the Jan–Mar 2026 quarter and the Mar 2026 shareholding. ₹ crore, consolidated unless stated. Valuation uses the 17 Jul 2026 close.

How to read the tags. Each of the 50 points gets one tag. Bullish the reading was favourable. Bearish the reading was unfavourable. Neutral the reading was in a normal range, or gave no clear message. Caution a warning sign or an unusual reading that deserves a closer look. Point 50 counts the other 49 tags. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Under each point you will see what reading earns which tag. Tags describe the data on the snapshot date. They are not signals to buy or sell. Full guide to all 100 points →

A. Valuation

#	Point	Reading	Tag	Commentary
1	P/E (trailing 12 months)	20.2×	Neutral	At ₹337.70 the market valued the company at about ₹36,725 crore, or 20.2× the ₹1,814 crore profit of the four quarters to Mar 2026. That is a moderate multiple. How to read: Information only. Below 15 is a low multiple, 15–30 moderate, above 30 a premium (the market expects growth). Compare with peers and the company’s own history.
2	Price / Book	2.80×	Neutral	Market cap was 2.80× the Mar 2026 book value (equity + reserves) of ₹13,097 crore. How to read: Information only. Main yardstick for banks; asset-light businesses usually trade at high P/B.
3	Price / Sales	0.91×	Neutral	The company was valued at 0.91× its trailing-12-month sales of ₹40,183 crore. How to read: Information only.
4	EV / EBITDA (approx.)	22.6×	Neutral	Enterprise value (market cap + ₹2,789 cr borrowings; cash not netted) was 22.6× trailing operating profit of ₹1,752 crore. How to read: Information only. Lower means cheaper relative to operating profit.
5	Earnings yield	4.9%	Neutral	The inverse of P/E: each ₹100 invested bought about ₹4.9 of annual earnings. Investors often compare this with the ~6–7% yield on 10-year government bonds. How to read: Information only. Often compared with the ~6–7% yield on 10-year government bonds.
6	PEG (P/E ÷ 3-yr profit CAGR)	n/m	Neutral	PEG is not meaningful because 3-year profit growth was not available. Note: the Mar 2026 quarter carried unusual other income of ₹-112 crore — a one-off that distorts year-on-year profit comparisons. Note: revenue jumped more than 40% in Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish below 1 (growth cheaply priced) · Bearish above 2 (growth expensively priced) · Neutral 1–2, or when profit did not grow (not meaningful).
7	Dividend yield (trailing 12M)	1.23%	Neutral	Dividends with ex-dates in the 12 months to the snapshot totalled ₹4.16667 a share, a 1.23% yield on the ₹337.70 price. Bullish above 3% · Neutral at 3% or less. Never tagged Bearish.
8	Market capitalisation	₹36,725 cr	Neutral	At about ₹0.37 lakh crore the company was a mid-cap. How to read: Information only. Above ₹1 lakh crore large-cap, ₹30,000 crore–₹1 lakh crore mid-cap, below that small-cap (our rule of thumb).
9	Graham number vs price	₹212.60 vs ₹337.70	Neutral	Benjamin Graham's conservative fair-value yardstick √(22.5 × EPS × book value per share) came to ₹212.60; the price was 59% above it. Quality franchises usually trade above this number. Bullish price below the Graham number · Neutral when the price is above it (most quality companies are).

B. Growth

#	Point	Reading	Tag	Commentary
10	Revenue growth FY26 (YoY)	+19.0%	Bullish	Revenue for FY26 was ₹40,170 crore, +19.0% versus FY25. Bullish above 10% · Bearish below 0% (revenue fell) · Neutral 0–10%.
11	Q4 FY26 revenue growth (YoY)	+15.1%	Bullish	The Jan–Mar 2026 quarter brought ₹11,156 crore of revenue, +15.1% on the same quarter a year earlier. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
12	Net profit growth FY26 (YoY)	+39.4%	Caution	FY26 net profit was ₹1,814 crore, +39.4% on FY25's ₹1,301 crore. Note: the Mar 2026 quarter carried unusual other income of ₹-112 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%. Caution if a one-off item distorted the figure.
13	Q4 FY26 profit growth (YoY)	+46.0%	Caution	Quarterly profit was ₹524 crore versus ₹359 crore a year earlier (+46.0%). Note: the Mar 2026 quarter carried unusual other income of ₹-112 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.
14	Revenue CAGR (3 years)	n/a	Neutral	Not available. Note: revenue jumped more than 40% in Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%. Caution if an acquisition inflated it.
15	Profit CAGR (3 years)	n/a	Neutral	Not available. Note: the Mar 2026 quarter carried unusual other income of ₹-112 crore — a one-off that distorts year-on-year profit comparisons. Note: revenue jumped more than 40% in Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
16	Revenue CAGR (5 years)	n/a	Neutral	Not available. Note: revenue jumped more than 40% in Mar 2025, which usually signals a merger or acquisition — multi-year growth rates are inflated by it. Bullish above 12% a year · Bearish below 5% a year · Neutral 5–12%.
17	EPS growth FY26 (reported)	+39.3%	Caution	Reported EPS went from ₹11.97 to ₹16.68 (+39.3%). Differences from profit growth come from changes in share count (bonus, buyback, new issues). Note: the Mar 2026 quarter carried unusual other income of ₹-112 crore — a one-off that distorts year-on-year profit comparisons. Bullish above 10% · Bearish below 0% · Neutral 0–10%.

C. Profitability

#	Point	Reading	Tag	Commentary
18	Operating margin FY26	4%	Neutral	Operating profit (EBITDA) was 4% of sales in FY26 versus 6% in FY25. How to read: Information only — normal margins differ a lot by industry.
19	Operating margin trend (4 quarters)	4% → 6% → 4% → 4%	Neutral	Quarterly margins moved from 4% to 4% over the last four quarters — broadly stable. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral when broadly stable.
20	Net profit margin FY26	4.5%	Neutral	₹4.5 of every ₹100 of revenue ended up as net profit in FY26. How to read: Information only.
21	Return on equity FY26	14.8%	Neutral	FY26 profit was 14.8% of average shareholders' equity. Above ~15% is generally considered good; below 10% weak. Bullish above 18% · Bearish below 10% · Neutral 10–18%. Around 15% or more is generally considered good.
22	ROCE FY26	12%	Neutral	Return on capital employed (debt + equity) was 12% in FY26. Bullish above 20% · Bearish below 10% · Neutral 10–20%.
23	Return on assets FY26	9.65%	Neutral	Net profit was 9.65% of total assets. Bullish banks only: 1.5% or more · Bearish banks only: below 1% · Information only for non-banks.
24	Effective tax rate FY26	-34%	Neutral	The company paid about -34% of pre-tax profit as tax; India's base corporate rate is ~25%. How to read: Information only. India’s base corporate rate is about 25%.
25	Other income share of pre-tax profit	-2%	Neutral	Non-operating 'other income' of ₹-27 crore made up -2% of pre-tax profit. How to read: Caution above 25% (headline profit leans on non-core income). Neutral otherwise.

D. Balance sheet

#	Point	Reading	Tag	Commentary
26	Debt / equity	0.21	Bullish	Borrowings of ₹2,789 crore were 0.21× equity — very low leverage. Bullish below 0.3 (very low leverage) · Bearish above 1 (high leverage) · Neutral 0.3–1.
27	Debt / EBITDA	1.58×	Neutral	Debt equalled 1.58 years of FY26 operating profit. Bullish below 1× · Bearish above 3× · Neutral 1–3×.
28	Interest coverage	11.2×	Bullish	Earnings before interest and tax covered interest cost 11.2 times. Bullish above 8× · Bearish below 3× · Neutral 3–8×, or not meaningful when interest is negligible.
29	Book value growth	+15.2%	Bullish	Shareholders' equity grew +15.2% from ₹11,370 crore to ₹13,097 crore in FY26. Bullish above 10% (banks: above 12%) · Bearish below 0% (non-banks only) · Neutral otherwise.
30	Capital work in progress	₹51 cr (1% of fixed assets)	Neutral	Projects under construction (CWIP) were 1% of fixed assets — a modest pipeline. How to read: Information only. Above 20% means a big expansion pipeline that is not yet earning.
31	Working capital days	51 days	Neutral	Working capital tied up equalled 51 days of sales (FY25: 53). Negative means suppliers/customers fund operations. How to read: Information only. Lower is generally more efficient; negative means suppliers or customers fund the business.
32	Cash conversion cycle	76 days	Neutral	It took 76 days to turn inventory and receivables into cash, net of supplier credit. How to read: Information only. Shorter is generally better.
33	Debtor days	22 (FY25 17)	Caution	Customers took 22 days on average to pay, versus 17 a year earlier — a notable stretch in collections. How to read: Caution when debtor days rose more than 20% in a year (collections stretching). Neutral otherwise.

E. Cash flow

#	Point	Reading	Tag	Commentary
34	Operating cash flow FY26	₹-333 cr	Bearish	The business generated ₹-333 crore of operating cash in FY26 versus ₹197 crore in FY25. Bullish positive and higher than the year before · Bearish negative · Neutral when positive but lower. Information only for banks.
35	Free cash flow FY26	n/a	Neutral	Free cash flow line not available on source page. Bullish positive · Bearish negative · Neutral when not available.
36	Cash conversion (CFO ÷ net profit)	-0.18×	Caution	Operating cash flow was -0.18× reported profit — cash lagged profits; worth watching. Bullish above 1× (profits well backed by cash) · Caution below 0.7×. Neutral 0.7–1×.
37	Free-cash-flow yield	n/a	Neutral	Not available. Bullish above 4% · Neutral at 4% or less.
38	Free cash flow — 3-year total	n/a	Neutral	Not available. Bullish positive total · Bearish negative total · Neutral when not available.
39	Capex FY26 (CFO – FCF)	n/a	Neutral	Not available. How to read: Information only.

F. Dividends & shareholder returns

#	Point	Reading	Tag	Commentary
40	Dividend payout ratio FY26	33%	Neutral	The company paid out about 33% of FY26 profit as dividends. How to read: Information only. High payout suits mature businesses; growing firms often keep more.
41	Dividend consistency (3 years)	n/a / 28% / 33%	Neutral	Payout ratios for FY24 / FY25 / FY26 — dividends were irregular. Bullish paid every year · Neutral when irregular. Never tagged Bearish.
42	Share capital change (FY25→FY26)	+202.8%	Neutral	Paid-up equity capital rose +202.8%, consistent with a bonus issue or split — shareholders' ownership was not diluted. Bullish fell 1% or more (a buyback) · Caution when it rose 1% or more (new shares issued). Neutral when unchanged, or for a bonus/split.

G. Ownership

#	Point	Reading	Tag	Commentary
43	Promoter holding	68.25% (-1.20 pts YoY)	Bearish	Promoters owned 68.25% at Mar 2026 versus 69.45% a year earlier. Bearish fell more than 1 percentage point in a year · Neutral otherwise. Never tagged Bullish.
44	Foreign institutional holding	9.20% (-4.22 pts YoY)	Bearish	FIIs held 9.20% at Mar 2026, down from 13.42% a year before. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
45	Domestic institutional holding	12.06% (+3.35 pts YoY)	Bullish	Mutual funds, insurers and other DIIs held 12.06%, up from 8.71%. Bullish up more than 1 percentage point · Bearish down more than 1 percentage point · Neutral within ±1 point.
46	Number of shareholders	2.1 lakh (+1.7% YoY)	Neutral	The shareholder count moved from 2.1 lakh to 2.1 lakh in a year — a rough gauge of retail interest. How to read: Information only — a rough gauge of retail interest.
47	Promoter pledge	none reported	Neutral	Our source showed no pledged promoter shares. How to read: Information only. Any sizeable pledge is a risk to note.

H. Quality & summary

#	Point	Reading	Tag	Commentary
48	Financial health checklist (Piotroski-style, 8 tests)	3/8	Bearish	Passed: positive profit, ROA improved, no meaningful dilution (<3%). Failed: positive operating cash flow, CFO > net profit, leverage fell, operating margin improved, asset turnover improved. Bullish all tests passed, or all but one · Bearish half the tests or fewer passed · Neutral in between.
49	Automated screen flags	0 strength(s) · 4 weakness(es)	Neutral	No strengths flagged. Weaknesses: Stock is trading at 3.03 times its book value; Tax rate seems low; Company might be capitalizing the interest cost; Promoter holding has decreased over last 3 years: -5.57%. (Flags generated by the data source’s rule screen.) How to read: Information only.
50	Fundamental summary	6 bullish · 4 bearish · 34 neutral · 5 caution	Neutral	On the numbers published by 17 Jul 2026 the fundamental picture was mixed. Valuation: P/E 20.2×, P/B 2.80×. This describes the data, not a recommendation. How to read the score: the strongest possible reading is 49 bullish · 0 bearish, and the weakest is 0 bullish · 49 bearish. Most companies land in between. The numbers are called positive when bullish tags beat bearish ones by 4 or more and are at least 1.5 times as many, negative the other way round, and mixed otherwise. Even a 49–0 score describes the past and is not a reason to buy, and a 0–49 score is not a reason to sell. Bullish bullish tags beat bearish ones by 4 or more and are at least 1.5× as many (“positive”) · Bearish the same the other way round (“negative”) · Neutral (“mixed”) otherwise. Strongest possible: 49 bullish · 0 bearish.

News in the three months before the snapshot

Company news from 17 Apr 2026 – 17 Jul 2026 that an investor could have known on the snapshot date.

21 Apr 2026 Patanjali Foods Declares ₹1.75 Interim Dividend; Shares Rise 0.74% — Board declared a second interim dividend for FY2025-26 of Rs 1.75 per share, record date 25 April 2026. source
31 May 2026 Patanjali Foods Q4 Profit Rises 46% to ₹524 Cr, Revenue Rises to ₹11,212 Cr — March-quarter consolidated net profit rose 46% to Rs 523.97 crore from Rs 358.51 crore; total income rose to Rs 11,212.17 crore from Rs 9,564.47 crore. source
15 Jul 2026 Patanjali Foods shares crash 20%, hit 52-week low amid report of block deal — Shares fell sharply intraday to a 52-week low after reports that about 54.24 lakh shares worth about Rs 195 crore changed hands in block deals at an average of Rs 355; the seller was not named. source
15 Jul 2026 Patanjali Foods Clarifies Normal Operations After 19% Plunge to 52-Week Low of ₹328.20 Amid Block Deal Buzz — Company told BSE and NSE that business is running normally and it has no undisclosed price-sensitive information; management denied reports of raids or notices. source

What happened next (17 Jul 2026 → 19 Oct 2026)

Price went from ₹337.70 to ₹364.80 by 19 Oct 2026 (+8.0%) while the Nifty 50 moved -5.9% — outperforming by 14.0 points.
Highest ₹412.90 on 23 Sep 2026; lowest ₹330.80 on 24 Jul 2026.
S1 328.20: held on a closing basis.
R1 417.50: not cleared on a closing basis.
R2 435.05: not cleared on a closing basis.
200-day SMA: price was below it at the snapshot and stayed on the same side through the period.
Apr–Jun 2026 results (reported 14 Aug 2026): revenue ₹11,337 crore (+29.3% YoY), net profit ₹336 crore (+86.7% YoY), operating margin 5% vs 4% a year earlier (Screener consolidated figures).

Later news

14 Aug 2026 Patanjali Foods posts record revenue, declares dual dividends — Q1 FY27 revenue from operations rose 29.33% YoY to about Rs 11,337 crore and PAT was about Rs 335.86 crore; board declared interim dividends of Rs 1.50 (FY26) and Rs 0.80 (FY27) per share, record date 21 August 2026. source
16 Sep 2026 Patanjali Foods shares surged nearly 5% today — Shares rose after a Delhi High Court ruling quashed seven ITAT orders against Patanjali Ayurved; the stock remained down sharply year-to-date. source
22 Sep 2026 Patanjali Foods shares rally on growth outlook — Shares rose over 6% on 21 September after management guided to 18-20% FMCG growth, 8-10% foods growth and Rs 700-800 crore free cash flow for FY27. source

Educational summary. On 17 Jul 2026 the technical picture leaned negative and the fundamental picture was mixed. Over the next three months the stock moved +8.0% against -5.9% for the Nifty 50. Here the chart's message did not line up neatly with what followed — a reminder that indicators describe the past, not the future. One case proves nothing on its own; the value is in seeing many cases over time. This page does not say whether to buy, sell or hold Patanjali Foods today.

Method designed by our founder, CPA · ACCA · CIA. Numbers are computed by our engine from the sources listed below.

Sources: daily prices — Yahoo Finance history pages; financials and shareholding — Screener.in (fetched 21 Oct 2026); index — Nifty 50 via Yahoo Finance; news — linked articles. Calculations by Manage Our Finance. Report a correction

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