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As of 6 Nov 2026, Modern Dairies trades at 22.0× trailing earnings, above the industry P/E of 19.5×, and the shares are 19% below their 52-week high. Sales grew 16% a year over 3 years while net profit fell 26%, with ROCE of 12% and ROE of 10%. Debt is 0.17× equity. It is a small-cap company with a market cap of ₹145 Cr, ranked 73rd of 127 Packaged Foods companies by market cap; the shares rose 1.7% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹46.80
Day high
₹46.80
Day low
₹43.00
Prev. close
₹44.90
Volume
12.3K

Health check

1 good · 4 fair · 1 to check
  • ReturnsAhead

    +1.7% over a year, better than 5 of 7 peers.

  • Price tagIn line

    P/E 22.0 vs industry 19.5.

  • GrowthSteady

    Sales +16.2%, profit −26.2% a year over 3 years.

  • ProfitabilityAverage

    ROCE 12.3% vs peer median 15.3%.

  • Balance sheetFair

    Debt 0.17× equity, interest covered 7.0×, Piotroski 4 of 9.

  • Red flags1 to check

    Quarterly sales down 9.2% on a year ago.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Packaged Foods

126 listed peers. Screen the industry

Small cap

₹145 Cr, #73 of 127 in its industry by size.

Defensive

Beta 0.77 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹346 Cr · profit ₹6 Cr
Market cap
₹145 Cr
Small cap
P/E
22.0
Industry 19.5
Price to book
1.83
Peers 8.88
Dividend yield
0.00%
ROE
10.1%
Peers 14.8%
ROCE
12.3%
Peers 15.3%
Debt to equity
0.17
Debt ₹12 Cr
EPS (TTM)
₹2.07
OPM (TTM)
3.4%
Net margin 1.7%
Sales growth
−9.2%
Latest quarter vs a year ago
Profit growth
+33.2%
Latest quarter vs a year ago
Price to sales
0.42
EV/EBITDA 10.8

Strengths and risks

Strengths

  • Quarterly profit up 33.2% on a year ago.

Risks to check

  • Quarterly sales down 9.2% on a year ago.

Derived automatically from reported figures. Not a recommendation.

About Modern Dairies

Modern Dairies Limited engages in the manufacture and sale of milk products in India. It offers liquid milk, skimmed and whole milk powder, dairy whitener, pure ghee, butter, cheese, casein, WPC, and lactose, as well as nutraceuticals. The company was incorporated in 1992 and is based in Chandigarh, India.

Headquarters
Chandigarh
Employees
419
Sector
Consumer Defensive
ISIN
INE617B01011
Website
moderndairies.com

Price range

52 weeks

₹26.56₹55.93

Today

₹43.00₹46.80
Avg volume (3M)
44.3K
1-year return
plus 1.7%
From 52-week high
minus 18.7%

Peers · Packaged Foods

Compare with peersScreen the whole industry
Company
NESTLEINDNestle India1,282.10plus 1.89%2,47,22960.642.76–79.9%21.0%––0.94%minus 0.5%
BRITANNIABritannia Industries4,785.00minus 3.92%1,15,25543.227.1361.2%66.7%18.4%5.7%3.0%1.89%minus 15.5%
TATACONSUMTata Consumer Products1,086.30plus 0.80%1,07,51163.34.868.3%7.6%14.0%13.9%8.6%0.92%minus 8.6%
PATANJALIPatanjali Foods411.50plus 0.19%44,77622.73.4211.2%14.8%4.2%8.7%27.0%0.98%minus 28.6%
HATSUNHatsun Agro Product1,068.10plus 0.33%23,79266.012.0720.2%19.0%10.7%11.2%29.0%1.87%plus 2.4%
MILKYMISTMilky Mist Dairy Food297.20plus 0.93%22,88091.28.88–9.7%10.1%––0.00%plus 63.7%
AWLAWL Agri Business167.00minus 0.48%21,57318.71.9815.3%11.1%2.9%8.7%21.4%0.60%minus 39.5%
MODAIRYModern Dairies45.45plus 1.22%14522.01.8312.3%10.1%3.4%16.2%−26.2%0.00%plus 1.7%
Median of 7 peers–0.33%44,77660.68.8815.3%14.8%10.7%8.7%21.4%0.94%−8.6%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrSep 25Dec 25Mar 26Jun 26Sep 26
8287.592.291.374.4
79.285.190.587.470.6
2.72.41.73.83.8
3.3%2.7%1.8%4.2%5.1%
0.50.30.40.30.3
0.30.30.30.30.3
0.80.80.80.80.8
2.11.60.933
18.7%24.9%65.5%29.8%25.1%
1.71.20.32.12.3
0.600.470.110.740.76

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+16.2%
Profit CAGR 3Y
−26.2%
EPS CAGR 3Y
−30.2%
ROE
10.1%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
216360347339
–+66.6%minus 3.7%minus 2.3%
199338333329
16.821.814.19.9
7.8%6.1%4.1%2.9%
1.20.40.61.2
2.53.81.81.1
3.43.43.23.3
019.356–
12.234.265.76.7
––−26.2%27.5%
12.234.2834.9
–+181.6%+142.4%minus 94.1%
5.2114.6835.321.77

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
23.423.425.728.5
−119−85.114.726.9
12671.27.311.6
55.580.469.364.7
85.189.9117132
29.43131.529.4
0.91.30.40.3
0006.2
0.21.58.610.3
54.656.176.485.4
85.189.9117132

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
15.128.220.1−4.5
−3−4.9−3.5−7.5
−18.9−22−9.613.7
−6.71.371.7
−3.1−5−3.6−1.2
12.123.216.5−5.7

Shareholding pattern

This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.

Major shareholders

BSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you