Modi Naturals Ltd
Modi Naturals Ltd operates across branded consumer foods and edible oils, bulk rice
-bran products and grain-based ethanol.
The company's edible-oil operations trace
back to rice-bran processing. The consumer portfolio now covers premium oils and packaged foods, while ethanol is now manufactured through Modi Biotech
Pvt Ltd, a wholly owned subsidiary.[1][2][3]
- Market Cap ₹ 432 Cr.
- Current Price ₹ 324
- High / Low ₹ 526 / 252
- Stock P/E 8.88
- Book Value ₹ 129
- Dividend Yield 0.00 %
- ROCE 22.2 %
- ROE 30.2 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 40.0% CAGR over last 5 years
Cons
- Stock is trading at 2.51 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 443 | 474 | 418 | 399 | 663 | 719 | 720 | |
| 430 | 459 | 412 | 390 | 607 | 645 | 642 | |
| Operating Profit | 13 | 15 | 5 | 9 | 56 | 74 | 78 |
| OPM % | 2.9% | 3.2% | 1.3% | 2.3% | 8% | 10% | 11% |
| 4 | 1 | 2 | 1 | 1 | 6 | 5 | |
| Interest | 1 | 2 | 4 | 7 | 12 | 8 | 9 |
| Depreciation | 1 | 1 | 2 | 4 | 8 | 8 | 9 |
| Profit before tax | 14 | 13 | 2 | -2 | 38 | 64 | 66 |
| Tax % | 25% | 28% | 42% | -21% | 18% | 21% | |
| 11 | 9 | 1 | -1 | 31 | 50 | 52 | |
| EPS in Rs | 8.31 | 7.40 | 0.85 | -1.04 | 23.32 | 37.79 | 39.29 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 20% |
| TTM: | 7% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 40% |
| 3 Years: | 248% |
| TTM: | 43% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 10% |
| 5 Years: | 23% |
| 3 Years: | 2% |
| 1 Year: | -22% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 22% |
| Last Year: | 30% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 55 | 65 | 69 | 77 | 108 | 159 |
| 21 | 51 | 142 | 170 | 149 | 161 | |
| 33 | 37 | 38 | 46 | 59 | 73 | |
| Total Liabilities | 121 | 165 | 263 | 306 | 330 | 407 |
| 19 | 26 | 27 | 149 | 145 | 214 | |
| CWIP | 0 | 0 | 91 | 0 | 16 | 19 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| 102 | 139 | 144 | 157 | 169 | 174 | |
| Total Assets | 121 | 165 | 263 | 306 | 330 | 407 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 9 | -13 | -6 | -7 | 49 | 61 | |
| 2 | -13 | -91 | -32 | -28 | -72 | |
| -12 | 30 | 95 | 37 | -21 | 124 | |
| Net Cash Flow | -1 | 4 | -2 | -2 | -0 | 113 |
| Free Cash Flow | 11 | -26 | -96 | -40 | 21 | -19 |
| CFO/OP | 87% | -63% | -35% | -65% | 90% | 96% |
Ratios
Consolidated / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 17 | 15 | 17 | 25 | 26 | 24 |
| Inventory Days | 72 | 95 | 98 | 125 | 66 | 64 |
| Days Payable | 8 | 12 | 21 | 33 | 22 | 23 |
| Cash Conversion Cycle | 81 | 98 | 94 | 117 | 70 | 65 |
| Working Capital Days | 42 | 34 | 37 | 26 | 14 | 31 |
| ROCE % | 14% | 3% | 2% | 19% | 22% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Oct 2021 | Nov 2022 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Branded Consumer Revenue Rs Cr |
|
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| Number of Manufacturing Units units |
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| Direct Retail Outlet Reach outlets |
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| Modern Retail Outlets outlets |
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| Number of Distributors distributors |
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| Ethanol Installed Capacity KLPD |
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| Ethanol Order Book from OMCs Rs Cr |
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Extracted by Screener AI
Documents
Announcements
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Closure of Trading Window
- Trading window closes from 1 October 2026 until 48 hours after Q2 FY26 results publication.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
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Report On Transfer Requests Of Physical Shares Relodged Under The Special Window
- Monthly special-window physical share transfer report for 01-08-2026 to 31-08-2026 shows zero requests.
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
- Subsidiary receives additional 1.98 crore litres ethanol allocation worth ₹140 crore for ESY 2025-26, supply till October 2026.
- Announcement under Regulation 30 (LODR)-Investor Presentation
Annual reports
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Annual Report 2026
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Annual Report 2025
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Annual Report 2024
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Annual Report 2023
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Annual Report 2022
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Annual Report 2021
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Annual Report 2020
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Annual Report 2019
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Annual Report 2018
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Annual Report 2017
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Annual Report 2016
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Annual Report 2015
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Annual Report 2014
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Annual Report 2013
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Annual Report 2012
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Concalls
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Aug 2026PPT
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May 2026Transcript PPT
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Nov 2025Transcript PPT
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Jun 2025Transcript PPT
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Nov 2024Transcript PPT
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Jul 2024PPT
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Nov 2021PPT
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Mar 2020PPT
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Feb 2020PPT
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Aug 2019PPT
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Feb 2019PPT
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Feb 2019PPT
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Dec 2018PPT
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Aug 2018PPT
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Mar 2018PPT
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Dec 2017PPT
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Jun 2017PPT
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Nov 2016PPT
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Aug 2016PPT
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Jun 2016PPT
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Jun 2016PPT
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Jan 2016PPT
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Dec 2015PPT
Business Profile:[1]
Modi Naturals Ltd 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.