Broiler realisations declined sharply in H1 FY2026 amid oversupply, but recovered from end-Q3, supported by disciplined broiler placements and exit of smaller players. This improvement is expected to sustain in FY2027. OPM, which was impacted in H1 FY2026, improved in H2, supporting an overall recovery for the year. It is expected to expand by 20-40 basis points to 5.8- 6.0% in FY2027, driven by favourable broiler realisations, scale economies and increased level of integration.

Exhibit: Monthly broiler price movement in various regions (In Rs./Kg)

Source: Poultrybazaar, industry data, ICRA Research; Note: Indicative average farm gate broiler per kg