Modi Naturals Ltd
₹ 339
3.62%
13 Nov
- close price
About
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]
Key Points
- Market Cap ₹ 452 Cr.
- Current Price ₹ 339
- High / Low ₹ 526 / 252
- Stock P/E 64.2
- Book Value ₹ 83.2
- Dividend Yield 0.00 %
- ROCE 13.1 %
- ROE 9.47 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Stock is trading at 4.08 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 -2.92% over past five years.
- Company has a low return on equity of 6.40% over last 3 years.
- Contingent liabilities of Rs.242 Cr.
* 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 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 234 | 271 | 291 | 277 | 295 | 388 | 443 | 474 | 418 | 357 | 338 | 382 | 412 | |
| Sales growth | +11% | +16% | +7% | -5% | +6% | +32% | +14% | +7% | -12% | -14% | -6% | +13% | +21% |
| 230 | 263 | 288 | 274 | 291 | 381 | 430 | 459 | 412 | 352 | 324 | 366 | 400 | |
| Operating Profit | 4 | 9 | 3 | 3 | 4 | 8 | 13 | 15 | 6 | 6 | 13 | 16 | 12 |
| OPM % | 1.8% | 3.3% | 1.0% | 1.2% | 1.5% | 1.9% | 2.9% | 3.2% | 1.3% | 1.6% | 4.0% | 4.1% | 2.9% |
| 0 | 0 | 2 | 1 | 1 | 0 | 4 | 1 | 2 | 1 | 3 | 3 | 3 | |
| Interest | 3 | 3 | 3 | 3 | 2 | 3 | 1 | 2 | 4 | 4 | 5 | 3 | 2 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 2 | 2 |
| Profit before tax | 0 | 4 | 0 | 0 | 2 | 4 | 14 | 13 | 2 | 1 | 10 | 14 | 11 |
| Tax % | -7% | 53% | 107% | 100% | 64% | -28% | 25% | 28% | 40% | 4% | 26% | 27% | |
| 0 | 2 | -0 | 0 | 1 | 5 | 11 | 9 | 1 | 1 | 8 | 10 | 7 | |
| EPS in Rs | 0.14 | 1.77 | -0.02 | 0.00 | 0.70 | 3.66 | 8.31 | 7.43 | 0.92 | 0.68 | 5.75 | 7.52 | 5.29 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 3% |
| 5 Years: | -3% |
| 3 Years: | -3% |
| TTM: | 21% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 4% |
| 3 Years: | 106% |
| TTM: | -16% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 24% |
| 3 Years: | 9% |
| 1 Year: | -27% |
| Return on Equity | |
|---|---|
| 10 Years: | 6% |
| 5 Years: | 7% |
| 3 Years: | 6% |
| Last Year: | 9% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 11 | 11 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| Reserves | 18 | 20 | 30 | 31 | 40 | 45 | 55 | 65 | 69 | 80 | 87 | 97 |
| 28 | 35 | 36 | 33 | 31 | 33 | 21 | 51 | 49 | 45 | 30 | 14 | |
| 19 | 20 | 22 | 23 | 29 | 30 | 33 | 37 | 35 | 31 | 32 | 39 | |
| Total Liabilities | 77 | 87 | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 164 |
| 18 | 18 | 20 | 19 | 20 | 19 | 19 | 21 | 20 | 18 | 17 | 18 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 15 | 27 | 35 | 35 | 35 |
| 59 | 68 | 80 | 78 | 94 | 100 | 102 | 129 | 119 | 116 | 110 | 110 | |
| Total Assets | 77 | 87 | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 164 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -7 | -7 | -8 | 2 | -7 | 1 | 9 | -13 | 12 | 16 | 19 | 1 | |
| -0 | 0 | -2 | -1 | -2 | -1 | 2 | -18 | -14 | -22 | -4 | 16 | |
| 6 | 7 | 11 | -3 | 8 | 1 | -12 | 30 | 2 | 6 | -15 | -16 | |
| Net Cash Flow | -1 | -0 | 1 | -1 | -0 | 1 | -1 | -0 | 1 | -0 | 0 | 1 |
| Free Cash Flow | -7 | -7 | -10 | 2 | -8 | -0 | 11 | -16 | 12 | 15 | 19 | -1 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -152% | -78% | -232% | 68% | -163% | 22% | 87% | -61% | 294% | 288% | 150% | 30% |
Ratios
Standalone / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 18 | 17 | 12 | 10 | 14 | 15 | 17 | 15 | 17 | 18 | 20 | 21 |
| Inventory Days | 75 | 74 | 94 | 99 | 109 | 83 | 72 | 95 | 98 | 106 | 99 | 99 |
| Days Payable | 18 | 10 | 6 | 7 | 11 | 9 | 8 | 12 | 17 | 16 | 10 | 17 |
| Cash Conversion Cycle | 75 | 80 | 100 | 103 | 112 | 88 | 81 | 98 | 98 | 108 | 109 | 104 |
| Working Capital Days | 16 | 15 | 28 | 29 | 40 | 36 | 42 | 34 | 32 | 43 | 45 | 57 |
| ROCE % | 6% | 12% | 4% | 4% | 6% | 7% | 14% | 14% | 4% | 4% | 11% | 13% |
Insights
In beta| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | 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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Documents
Announcements
- Announcement under Regulation 30 (LODR)-Investor Presentation
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Modi Naturals to host earnings call on 17 November 2026 for Q2 and H1 FY27 results.
-
Intimation Under Regulation 30 Of The SEBI (LODR) Regulations 2015 - Receipt Of Ethanol Supply Orders Aggregating To Approximately ?495 Crores.
- MBPL received OMC ethanol orders for 7.82 crore litres worth about ₹495 crore in ESY 2026-27.
-
Disclosure Under Regulation 30 Of SEBI (LODR) Regulations, 2015 - Commencement Of Commercial Operations At Expanded Ethanol Plant Of Subsidiary Company
- Modi Biotech commenced commercial operations at expanded Chhattisgarh ethanol plant, raising capacity from 282 to 600 KLPD.
-
Announcement under Regulation 30 (LODR)-Newspaper Publication
- Newspaper publication of an extract of unaudited Financial Result for the Quarter & half year ended 30th September 2026
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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Nov 2026PPT
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Aug 2026PPT
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May 2026Transcript PPT
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Feb 2026PPT
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Nov 2025Transcript PPT
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Aug 2025PPT
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Jun 2025Transcript PPT
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Jan 2025PPT
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Nov 2024Transcript PPT
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Jul 2024PPT
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Feb 2024PPT
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Nov 2023PPT
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Aug 2023PPT
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May 2023PPT
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Feb 2023PPT
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Nov 2022PPT
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Aug 2022PPT
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Jul 2022PPT
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Feb 2022PPT
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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.