Key Highlights

  • SunRice lifted full-year profit and its dividend in FY26 despite softer revenue, yet a sharply smaller Australian rice crop leaves the diversified food group facing a materially tougher FY27.
  • SunRice is a diversified rice food company with roots in the New South Wales Riverina cooperative movement of the 1950s.
  • For FY26, SunRice reported revenue of about A$1.80 billion, down 2.5% on the prior year, while net profit after tax rose roughly 4% to A$73.3 million.
  • Group EBITDA eased about 3% to A$143.6 million, with the EBITDA margin holding at 8.0%.

SunRice lifted full-year profit and its dividend in FY26 despite softer revenue, yet a sharply smaller Australian rice crop leaves the diversified food group facing a materially tougher FY27. Here is a balanced read.

Company Overview

SunRice is a diversified rice food company with roots in the New South Wales Riverina cooperative movement of the 1950s. Its supply model centres on the "rice pool": Australian growers deliver paddy to the group and are paid a pooled paddy price, which for the calendar 2025 crop was set at A$400 per tonne for medium grain, down slightly from A$406. From that base the business spans branded consumer rice…

Recent Developments

For FY26, SunRice reported revenue of about A$1.80 billion, down 2.5% on the prior year, while net profit after tax rose roughly 4% to A$73.3 million. Group EBITDA eased about 3% to A$143.6 million, with the EBITDA margin holding at 8.0%. Chief executive Paul Serra characterised the period as one in which the company "operated in a challenging external environment, navigating foreign-exchange volatility, heightened competition" and lower crop mill-out rates.

Financial and Operational Snapshot

Segment results were mixed. International Consumer Packaged Goods, the largest contributor, posted revenue of about A$736.7 million, down 7%, but lifted EBITDA around 1% to A$87.1 million as margins improved. The Australia and New Zealand CPG segment held revenue broadly flat at roughly A$735.3 million, though EBITDA fell about 14% to A$62.6 million amid competitive pressure and input costs. The clear bright spot was Bulk Rice and Animal Feed —…

What May Be Watched Next

The offshore sourcing strategy — including the Uruguay acquisition and South American exploration — is the central growth lever, aimed at smoothing earnings through drought-affected Australian seasons. Continued margin gains in International CPG, further recovery in CopRice, and the strengthened balance sheet (which affords capacity for reinvestment or bolt-on acquisitions) are the principal catalysts to watch.

Key Risks

The most immediate risk is the FY27 crop. SunRice has guided to a substantially smaller Australian harvest of around 178,000 tonnes, down roughly 66% on the prior season, and expects FY27 net profit to be materially lower than FY26, with earnings heavily skewed to the second half and margins pressured by fixed-cost inefficiencies. Beyond the crop, the group faces foreign-exchange exposure, grocery competition, and the governance limitations inherent in the…

What does Ricegrowers (SunRice, ASX do?

SunRice is a diversified rice food company with roots in the New South Wales Riverina cooperative movement of the 1950s. Its supply model centres on the "rice pool": Australian growers deliver paddy to the group…

What is the latest development?

For FY26, SunRice reported revenue of about A$1.80 billion, down 2.5% on the prior year, while net profit after tax rose roughly 4% to A$73.3 million. Group EBITDA eased about 3% to A$143.6 million, with…

What financial or operational point stands out?

Segment results were mixed. International Consumer Packaged Goods, the largest contributor, posted revenue of about A$736.7 million, down 7%, but lifted EBITDA around 1% to A$87.1 million as margins improved. The Australia and New Zealand…

What may be watched next?

The offshore sourcing strategy — including the Uruguay acquisition and South American exploration — is the central growth lever, aimed at smoothing earnings through drought-affected Australian seasons. Continued margin gains in International CPG, further recovery…