Amir Chand Jagdish Kumar (Exports) Limited (AEROPLANE) share price
₹194.29 on NSE as of 2026-09-04. +3.31% on the day. 52-week range ₹171.41 to ₹201.39. Fast Moving Consumer Goods.
Amir Chand Jagdish Kumar (Exports) Q1 FY27: Revenue Up 55% to ₹664 Cr, PAT of ₹36.6 Cr, and ₹1,039 Cr of Rice in Storage
At a glance
Four months after listing, the company behind Aeroplane rice reported June-quarter revenue of ₹664 Cr, up 55.1% on the same quarter last year. Profit after tax came in at ₹36.6 Cr against ₹16.1 Cr a year ago — a 128% move. Operating profit was ₹61.9 Cr on a 9% operating margin.
Two things sit under those numbers. The first is finance cost, which fell to ₹13.7 Cr this quarter from ₹21.4 Cr in June 2025 — the IPO in April 2026 raised ₹440 Cr, of which ₹398 Cr went into working capital by June 30. The second is inventory: ₹1,039 Cr of it on the March 2026 balance sheet, against total assets of ₹2,121 Cr. Roughly half of everything the company owns is rice, sitting quietly in a warehouse, getting older on purpose.
Because that is the business. Per the Infomerics rating rationale, basmati inventory is held for at least six months as a deliberate ageing strategy to improve quality. Most companies call slow-moving stock a problem. This one calls it the recipe.
FY26 closed with revenue of ₹2,287 Cr and PAT of ₹103.3 Cr, against ₹1,997 Cr and ₹60.8 Cr in FY25. Operating cash flow for the same year was negative ₹166 Cr. Both facts belong to the same twelve months, and Section 7 shows how.
Introduction
Amir Chand Jagdish Kumar (Exports) Limited was incorporated in 2003 and processes and exports basmati rice and other FMCG products. The name on the door belongs to a proprietorship the company acquired in 2005 from promoter Mr. Jagdish Kumar Suri, along with its assets, liabilities and two processing units.
The timeline the company publishes is a slow build. Revenue crossed ₹500 Cr around 2008-09, when the Ministry of Commerce recognised it as a Star Trading House. Unit I capacity went from 384 MT/day to 576 MT/day in 2013. Three Star Export House status arrived in 2017-18, alongside Export Inspection Council approval for Unit II and the launch of an e-commerce website. In 2022 the company started producing atta, besan, sugar, salt, sooji and maida. ACJK Foods Private Limited was incorporated as a wholly owned subsidiary in 2020.
The listing came on April 2, 2026 — 20,754,716 fresh equity shares at ₹212 each, on both NSE and BSE. Of the ₹411.1 Cr net proceeds received in escrow, ₹398.2 Cr had gone to working capital and ₹1.1 Cr to general corporate purposes by June 30, 2026, leaving ₹1.8 Cr unutilised.
Since listing, three things have been filed. Q3 FY26 results in April. Q4 and FY26 results in May, with an investor presentation. And Q1 FY27 on August 3, 2026, approved at a board meeting that ran from 12:30 p.m. to 4:00 p.m. A wholly owned Singapore subsidiary, Aeroplane FMCG Pte. Ltd., was incorporated on May 15, 2026, with nil transactions through the quarter — it has not started operations. And on August 6, the company announced the appointment of Rashmika Mandanna as brand ambassador for its food portfolio, for two years.
Business model
They buy paddy, keep it, mill it, bag it, and put it on a shelf in 38 countries. That is the whole trick, and the company has been doing it for four decades.
The value chain is fully integrated end to end: procurement, storage, processing, packaging, marketing, distribution. Two milling units — Amritsar in Punjab and Safidon in Haryana — plus a packaging facility at Alipur in Delhi. Installed capacity is 550,800 MTPA, running at roughly 61% utilisation as of FY26. Storage runs to 130,000 MT of rice and 140,000 MT of paddy, because the ageing strategy needs somewhere to age.
The rice segment was 99% of FY26 revenue. The FMCG segment — atta, maida, besan, salt, sugar, sooji, instant phirni, idli rice flour — was the other 1%, and is domestic-only.
The brand architecture is where things get enthusiastic. Aeroplane is the anchor, and then it multiplies: Aeroplane Gold, Classic, Super, Select, Royal, 1121, La-Taste for premium. Metro and Rozana in mid-premium. Apple, World Cup, Palm Tree, Season in value. Super Tibar, Spl Dubar, Daily, Regular, Everyday elsewhere. HORECA gets Jet, Power, Speed, Shan and Race, which reads less like a rice catalogue and more like a motorcycle showroom. Then Diabetic Rice, Brown Rice, Quick Cook, Kolam, Idli Rice, Sona Masori. And ALI BABA, standing alone in the premium column with no explanation offered.
One hundred registered trademarks — 70 in India, 30 across 26 countries — plus 22 copyrights. That is one trademark for every ₹22.9 Cr of FY26 revenue.
Sourcing runs through 325 procurement agents, with satellite mapping and field surveys feeding peak-season planning. Distribution is 436 domestic partners and 53 international, across general trade, modern trade, e-commerce, HORECA and D2C. The company is ranked 3rd among its peers by revenue, and the Amritsar unit is registered under the UNFCCC, running 997 kW of solar and a 950 kW co-power turbine, with rice husk from milling recycled as fuel.
Quarterly results, balance sheet, cash flow, ratios, shareholding and the filings themselves are on the full page for Amir Chand Jagdish Kumar (Exports) Limited.
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