Modi Naturals Ltd
₹ 350
1.39%
09 Apr
4:01 p.m.
About
Incorporated in 1974, Modi Naturals Ltd manufactures and markets oils and deoiled cakes[1]
Key Points
- Market Cap ₹ 464 Cr.
- Current Price ₹ 350
- High / Low ₹ 610 / 252
- Stock P/E 67.3
- Book Value ₹ 79.9
- Dividend Yield 0.00 %
- ROCE 11.2 %
- ROE 7.88 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 4.37 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- The company has delivered a poor sales growth of -2.74% over past five years.
- Company has a low return on equity of 3.67% over last 3 years.
- Contingent liabilities of Rs.156 Cr.
- Company's cost of borrowing seems high
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
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Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 210 | 234 | 271 | 291 | 277 | 295 | 388 | 443 | 474 | 418 | 357 | 338 | 336 | |
| 205 | 230 | 263 | 288 | 274 | 291 | 381 | 430 | 459 | 412 | 352 | 324 | 323 | |
| Operating Profit | 5 | 4 | 9 | 3 | 3 | 4 | 8 | 13 | 15 | 6 | 6 | 13 | 12 |
| OPM % | 2% | 2% | 3% | 1% | 1% | 1% | 2% | 3% | 3% | 1% | 2% | 4% | 4% |
| -0 | 0 | 0 | 2 | 1 | 1 | 0 | 4 | 1 | 2 | 1 | 3 | 2 | |
| Interest | 2 | 3 | 3 | 3 | 3 | 2 | 3 | 1 | 2 | 4 | 4 | 5 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 1 |
| Profit before tax | 2 | 0 | 4 | 0 | 0 | 2 | 4 | 14 | 13 | 2 | 1 | 10 | 10 |
| Tax % | 50% | -7% | 53% | 107% | 100% | 64% | -28% | 25% | 28% | 40% | 4% | 26% | |
| 1 | 0 | 2 | -0 | 0 | 1 | 5 | 11 | 9 | 1 | 1 | 8 | 7 | |
| EPS in Rs | 0.74 | 0.14 | 1.77 | -0.02 | 0.00 | 0.70 | 3.66 | 8.31 | 7.43 | 0.92 | 0.68 | 5.75 | 5.18 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 4% |
| 5 Years: | -3% |
| 3 Years: | -11% |
| TTM: | 5% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 47% |
| 5 Years: | 11% |
| 3 Years: | -7% |
| TTM: | -25% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 38% |
| 3 Years: | 12% |
| 1 Year: | -1% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 7% |
| 3 Years: | 4% |
| Last Year: | 8% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 18 | 18 | 20 | 30 | 31 | 40 | 45 | 55 | 65 | 69 | 80 | 87 | 93 |
| 22 | 28 | 35 | 36 | 33 | 31 | 33 | 21 | 51 | 49 | 45 | 30 | 13 | |
| 24 | 19 | 20 | 22 | 23 | 29 | 30 | 33 | 37 | 35 | 31 | 32 | 31 | |
| Total Liabilities | 75 | 77 | 87 | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 151 |
| 19 | 18 | 18 | 20 | 19 | 20 | 19 | 19 | 21 | 20 | 18 | 17 | 17 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 27 | 35 | 35 | 35 |
| 56 | 59 | 68 | 80 | 78 | 94 | 100 | 102 | 129 | 119 | 116 | 110 | 99 | |
| Total Assets | 75 | 77 | 87 | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 151 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -5 | -7 | -7 | -8 | 2 | -7 | 1 | 9 | -13 | 12 | 16 | 19 | |
| -1 | -0 | 0 | -2 | -1 | -2 | -1 | 2 | -18 | -14 | -22 | -4 | |
| 4 | 6 | 7 | 11 | -3 | 8 | 1 | -12 | 30 | 2 | 6 | -15 | |
| Net Cash Flow | -1 | -1 | -0 | 1 | -1 | -0 | 1 | -1 | -0 | 1 | -0 | 0 |
| Free Cash Flow | -6 | -7 | -7 | -10 | 2 | -8 | -0 | 11 | -16 | 12 | 15 | 19 |
| CFO/OP | -104% | -152% | -78% | -232% | 68% | -163% | 22% | 87% | -61% | 294% | 288% | 150% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 18 | 17 | 12 | 10 | 14 | 15 | 17 | 15 | 17 | 18 | 20 |
| Inventory Days | 84 | 75 | 74 | 94 | 99 | 109 | 83 | 72 | 95 | 98 | 106 | 99 |
| Days Payable | 30 | 18 | 10 | 6 | 7 | 11 | 9 | 8 | 12 | 17 | 16 | 10 |
| Cash Conversion Cycle | 73 | 75 | 80 | 100 | 103 | 112 | 88 | 81 | 98 | 98 | 108 | 109 |
| Working Capital Days | 17 | 16 | 15 | 28 | 29 | 40 | 36 | 42 | 34 | 32 | 43 | 45 |
| ROCE % | 7% | 6% | 12% | 4% | 4% | 6% | 7% | 14% | 14% | 4% | 4% | 11% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Actual Production - De-oiled Rice Bran MT |
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| Actual Production - Edible Oil MT |
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| Ethanol Installed Capacity KLPD |
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| Ethanol Order Visibility/Book INR Crore |
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| Direct Retail Reach (Stores) Count |
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| Modern Retail Outlets Count |
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| Number of Distributors Count |
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Documents
Announcements
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Report On Transfer Requests Of Physical Shares Re-Lodged Under The Special Window
4 Apr - Monthly special-window transfer report shows zero requests received, processed, approved, or rejected.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
4 Apr - Compliance Certificate Under Reg. 74(5) for the Quarter ended 31st March, 2026
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Commencement Of Commercial Operations At Expanded Ethanol Plant Of Subsidiary Company
25 Mar - Modi Biotech starts commercial operations in Chhattisgarh; capacity increased from 130 KLPD to 282 KLPD.
- Closure of Trading Window 25 Mar
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Report On Transfer Request Of Physical Shares Re-Lodged Under Special Window.
13 Mar - Monthly SEBI special-window report (05-02-2026 to 09-03-2026): zero transfer/demat requests recorded.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
from bse
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Financial Year 2011
from bse
Concalls
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Jun 2016TranscriptAI SummaryPPT
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Jun 2016TranscriptAI SummaryPPT
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Jan 2016TranscriptAI SummaryPPT
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Dec 2015TranscriptAI SummaryPPT
Business Profile[1]
Modi Naturals Limited is a diversified FMCG and renewable energy company engaged in edible oils, healthy foods, and ethanol production. It is the 3rd Largest Premium Edible Oil Brand and one of the largest makers of Rice Bran Oil in India.