Modi Naturals (MODINATUR) had a P/E of 7.9× on 6 Nov 2026, below the industry P/E of 19.5×, and the shares are 40% below their 52-week high. Sales grew 18% a year over 3 years, with ROCE of 23% and ROE of 34%. Debt is 0.94× equity. It is a small-cap company with a market cap of ₹418 Cr, ranked 51st of 127 Packaged Foods companies by market cap; the shares fell 17% over the past year.
- ₹346.50
- ₹346.85
- ₹310.00
- ₹350.00
- 18.7K
Health check
- ReturnsBehind
−17.2% over a year, better than 2 of 7 peers.
- Price tagCheaper
P/E 7.9 vs industry 19.5.
- GrowthStrong
Sales +17.7%, profit +260.9% a year over 3 years.
- ProfitabilityStrong
ROCE 23.1% vs peer median 15.3%.
- Balance sheetFair
Debt 0.94× equity, interest covered 10.6×, Piotroski 6 of 9.
- Red flags1 to check
40% below its 52-week high.
Small cap
Defensive
Key metrics
- Market cap
- ₹418 Cr
- Small cap
- P/E
- 7.9
- Industry 19.5
- Price to book
- 2.43
- Peers 8.88
- Dividend yield
- 0.00%
- ROE
- 34.2%
- Peers 14.8%
- ROCE
- 23.1%
- Peers 15.3%
- Debt to equity
- 0.94
- Debt ₹161 Cr
- EPS (TTM)
- ₹39.58
- Face value ₹10
- OPM (TTM)
- 10.8%
- Net margin 7.3%
- Sales growth
- +0.4%
- Latest quarter vs a year ago
- Profit growth
- +19.1%
- Latest quarter vs a year ago
- Price to sales
- 0.58
- EV/EBITDA 7.5
Strengths and risks
Strengths
- Return on equity of 34.2%.
- Return on capital employed of 23.1%.
- P/E of 7.9 against an industry P/E of 19.5.
Risks to check
- 40% below its 52-week high.
About Modi Naturals
Modi Naturals Limited, together with its subsidiary, Modi Biotech Private Limited, engages in the manufacture and marketing of oils and deoiled cakes in India. It operates through Branded Business and Bulk Business segments. The company provides healthy olive oil and rice bran oil blend under the Oleev Olive oil and Oleev Active oil brands; multisource oil under Oleev Health Oil and Oleev Smart Oil brand name; and other edible oils under the Rizolo Rice…
- Headquarters
- New Delhi
- Employees
- 452
- Sector
- Consumer Defensive
- ISIN
- INE537F01012
- Website
- modinaturals.com
Price range
- Avg volume (3M)
- 14.8K
- 1-year return
- minus 17.2%
- From 52-week high
- minus 40.1%
Peers · Packaged Foods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| NESTLEINDNestle India | 1,282.10 | plus 1.89% | 2,47,229 | 60.6 | 42.76 | – | 79.9% | 21.0% | – | – | 0.94% | minus 0.5% |
| BRITANNIABritannia Industries | 4,785.00 | minus 3.92% | 1,15,255 | 43.2 | 27.13 | 61.2% | 66.7% | 18.4% | 5.7% | 3.0% | 1.89% | minus 15.5% |
| TATACONSUMTata Consumer Products | 1,086.30 | plus 0.80% | 1,07,511 | 63.3 | 4.86 | 8.3% | 7.6% | 14.0% | 13.9% | 8.6% | 0.92% | minus 8.6% |
| PATANJALIPatanjali Foods | 411.50 | plus 0.19% | 44,776 | 22.7 | 3.42 | 11.2% | 14.8% | 4.2% | 8.7% | 27.0% | 0.98% | minus 28.6% |
| HATSUNHatsun Agro Product | 1,068.10 | plus 0.33% | 23,792 | 66.0 | 12.07 | 20.2% | 19.0% | 10.7% | 11.2% | 29.0% | 1.87% | plus 2.4% |
| MILKYMISTMilky Mist Dairy Food | 297.20 | plus 0.93% | 22,880 | 91.2 | 8.88 | – | 9.7% | 10.1% | – | – | 0.00% | plus 63.7% |
| AWLAWL Agri Business | 167.00 | minus 0.48% | 21,573 | 18.7 | 1.98 | 15.3% | 11.1% | 2.9% | 8.7% | 21.4% | 0.60% | minus 39.5% |
| MODINATURModi Naturals | 314.10 | minus 10.26% | 418 | 7.9 | 2.43 | 23.1% | 34.2% | 10.8% | 17.7% | 260.9% | 0.00% | minus 17.2% |
| Median of 7 peers | – | 0.33% | 44,776 | 60.6 | 8.88 | 15.3% | 14.8% | 10.7% | 8.7% | 21.4% | 0.94% | −8.6% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 155 | 147 | 174 | 243 | 156 | |
| 137 | 132 | 158 | 219 | 133 | |
| 17.7 | 15.3 | 16 | 24.5 | 22.2 | |
| 11.4% | 10.4% | 9.2% | 10.1% | 14.2% | |
| 0 | 0.7 | 0 | 0.2 | −0.3 | |
| 2.3 | 2.2 | 1.9 | 1.4 | 3 | |
| 2 | 2 | 2 | 2 | 2.9 | |
| – | – | – | 4.9 | – | |
| 13.4 | 11.9 | 12.1 | 26.1 | 15.9 | |
| 21.9% | 15.2% | 17.3% | 24.6% | 21.6% | |
| 10.5 | 10.1 | 10 | 19.7 | 12.5 | |
| 7.87 | 7.58 | 7.56 | 15.00 | 9.44 |
Profit & loss
- Sales CAGR 3Y
- +17.7%
- Profit CAGR 3Y
- +260.9%
- EPS CAGR 3Y
- +255.0%
- ROE
- 34.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 418 | 395 | 638 | 681 | |
| – | minus 5.3% | +61.4% | +6.7% | |
| 410 | 385 | 582 | 607 | |
| 7.5 | 10 | 56.2 | 74.1 | |
| 1.8% | 2.5% | 8.8% | 10.9% | |
| 0.4 | −0.5 | 0 | −0.7 | |
| 3.3 | 6.6 | 10.7 | 6.6 | |
| 1.6 | 4.2 | 7.8 | 8 | |
| −1.2 | −0.4 | 0 | 4.8 | |
| 1.9 | −1.7 | 37.7 | 63.5 | |
| 42.5% | 20.3% | 17.7% | 20.9% | |
| 1.1 | −1.4 | 31 | 50.3 | |
| – | minus 229.0% | – | +62.1% | |
| 0.84 | -1.09 | 23.32 | 37.79 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 12.7 | 13.3 | 13.3 | 13.3 | |
| 69.1 | 77.3 | 108 | 159 | |
| 143 | 170 | 149 | 161 | |
| 38.5 | 46 | 59.4 | 73.3 | |
| 263 | 306 | 330 | 407 | |
| 120 | 149 | 169 | 233 | |
| 92.5 | 0 | 24.4 | 19.5 | |
| 2.3 | 0.4 | 0.3 | 2.1 | |
| 48.4 | 157 | 136 | 152 | |
| 263 | 306 | 330 | 407 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −5.7 | −6.8 | 48.8 | 61.1 | |
| −91.4 | −32.2 | −28.1 | −71.9 | |
| 94.9 | 37.1 | −20.8 | 12.4 | |
| −2.2 | −1.9 | −0.1 | 1.5 | |
| −94.2 | −34.7 | −28.2 | −80.1 | |
| −100 | −41.5 | 20.6 | −19 |
Shareholding pattern
- Promoters69.09%
- Public30.91%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 69.09% | 30.91% | 0.00 | |
| 30 Jun 2026 | 69.09% | 30.91% | 0.00 | |
| 31 Mar 2026 | 69.09% | 30.91% | 0.00 | |
| 31 Dec 2025 | 69.09% | 30.91% | 0.00 | |
| 10 Dec 2025 | 69.09% | 30.91% | – |
Major shareholders
Filings & events
News
No recent news coverage found.