Modi Naturals Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Bulk: 51.9% • Branded: 48.1%
AI Sector View
AI GENERATEDFast Moving Consumer Goods
Rural demand proxies are mixed. Tractor sales rose 18.0% YoY (2026-07) and 2-wheelers were up 23.0% YoY (2026-06), but rural employment slowed to 1.0% YoY (2026-07), fertiliser sales were 0.0% YoY (2026-05), and food inflation of 5.52% (Jul/26) can pressure household budgets. FPI outflows remain heavy at INR -8081 crore over 3 months to 2026-08-31, limiting upside.
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.96x)
- Stock looks reasonably valued - P/E of 48.3 is below its historical median
- Company generates healthy free cash flow
- Attractively priced for its growth - PEG of 0.5
- Company maintains a comfortable, low leverage position
CONS
- Recent results are weak - TTM profit is down 33.7% versus prior year
- Company has a low return on equity of 6.1% over last 3 years
- Company has a low return on capital employed of 9.4%
- Company's sales have been declining over the last five years
- Contingent liabilities are large at 226.2% of net worth
- Company has delivered a poor profit growth of -1.0% over past five years
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| MARICO | 810.25 | 55.80 | 105347.77 | 0.49 | 652.00 | 27.10 | 3957.00 | 21.42 | 52.25 | 20.70 |
| PATANJALI | 341.25 | 18.85 | 37131.71 | 1.47 | 3357.34 | 1761.48 | 113374.51 | 1173.91 | 10.61 | 4.79 |
| AWL | 187.65 | 21.10 | 24388.47 | 0.53 | 351.39 | 47.67 | 20048.14 | 17.52 | 18.52 | 3.56 |
| GOKULAGRO | 230.50 | 16.18 | 6801.75 | 0.00 | 122.63 | 71.26 | 5281.95 | 7.26 | 37.07 | 3.85 |
| SUNDROP | 667.00 | 89.96 | 2514.38 | 0.00 | 12.13 | 181.44 | 428.08 | 15.22 | 2.01 | 5.84 |
| BCLIND | 35.59 | 9.01 | 1050.49 | 0.98 | 35.52 | 6.10 | 623.42 | -24.00 | 13.60 | 9.80 |
| MODINATUR | 350.55 | 8.92 | 466.46 | 0.00 | 12.50 | 19.14 | 155.61 | 0.37 | 23.80 | 14.25 |
| GOKUL | 42.66 | 20.40 | 422.31 | 0.00 | 6.08 | 57.63 | 1016.75 | 9.75 | 8.66 | 1.63 |
| KRITINUT | 83.74 | 12.59 | 419.57 | 3.58 | 8.92 | -6.03 | 247.08 | 7.88 | 20.30 | 4.72 |
| VIJSOLX | 647.80 | 8.70 | 207.38 | 0.00 | 5.58 | 428.60 | 622.50 | 35.20 | 7.35 | 1.40 |
| MKPL | 4.02 | 32.13 | 150.90 | 0.00 | 1.38 | -60.63 | 115.16 | 0.18 | 13.46 | 2.18 |
| ROML | 42.18 | 3.72 | 67.44 | 0.00 | 1.11 | -21.06 | 35.56 | 5.82 | 15.26 | 5.16 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 84 | 92 | 97 | 85 | 70 | 66 | 97 | 105 | 76 | 62 | 93 | 151 | 81 | |
| 81 | 90 | 99 | 83 | 66 | 63 | 94 | 102 | 72 | 59 | 91 | 145 | 76 | |
| Operating Profit | 3 | 2 | -1 | 2 | 4 | 3 | 3 | 3 | 4 | 3 | 2 | 6 | 5 |
| OPM % | 3.01% | 2.50% | -1.28% | 2.42% | 5.38% | 5.20% | 3.09% | 2.92% | 5.43% | 5.17% | 2.12% | 3.95% | 5.89% |
| 0 | 0 | 0 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | -0 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before Tax | 1 | 1 | -2 | 1 | 3 | 3 | 3 | 2 | 4 | 3 | 1 | 6 | 4 |
| Tax % | 14.85% | 15.79% | 12.05% | 2.70% | 8.59% | 9.19% | 0.00% | 104.39% | 13.37% | 8.68% | 18.25% | 46.83% | 33.20% |
| Net Profit | 1 | 1 | -2 | 1 | 3 | 2 | 3 | -0 | 3 | 3 | 1 | 3 | 3 |
| 0.69 | 0.63 | -1.64 | 1.18 | 2.00 | 1.86 | 1.96 | -0.18 | 2.41 | 1.97 | 0.85 | 2.45 | 2.19 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 293 | 279 | 296 | 388 | 443 | 474 | 418 | 358 | 338 | 382 | 387 | |
| 289 | 274 | 291 | 381 | 430 | 459 | 412 | 352 | 325 | 366 | 371 | |
| Operating Profit | 5 | 4 | 6 | 8 | 13 | 15 | 6 | 6 | 13 | 16 | 16 |
| OPM % | 1.54% | 1.54% | 1.93% | 1.93% | 2.91% | 3.18% | 1.32% | 1.61% | 3.97% | 4.13% | 4.11% |
| 0 | 0 | 0 | 0 | 4 | 1 | 2 | 1 | 3 | 3 | 2 | |
| Interest | 3 | 3 | 2 | 3 | 1 | 2 | 4 | 4 | 5 | 3 | 3 |
| Depreciation | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 1 | 2 | 2 |
| Profit before Tax | 0 | 0 | 2 | 4 | 14 | 13 | 2 | 1 | 10 | 14 | 14 |
| Tax % | 114.54% | 103.44% | 64.21% | -28.22% | 24.71% | 27.62% | 40.49% | 4.07% | 25.68% | 26.74% | 32.24% |
| Net Profit | -0 | -0 | 1 | 5 | 11 | 9 | 1 | 1 | 8 | 10 | 10 |
| EPS | 0.00 | 0.00 | 0.00 | 3.69 | 8.31 | 7.41 | 1.01 | 0.69 | 5.75 | 7.53 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 3%
- 5 Years:
- -3%
- 3 Years:
- -3%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 18%
- 5 Years:
- -1%
- 3 Years:
- 105%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
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 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 11 | 11 | 13 | 13 | 13 | 13 | 13 | 13 | 13 | 13 |
| 20 | 21 | 40 | 45 | 55 | 65 | 66 | 80 | 87 | 97 | |
| 35 | 33 | 31 | 34 | 22 | 52 | 50 | 46 | 31 | 14 | |
| Trade Payables | 4 | 4 | 7 | 7 | 8 | 12 | 15 | 11 | 6 | 13 |
| 29 | 29 | 23 | 22 | 24 | 24 | 22 | 19 | 25 | 26 | |
| Total Liabilities | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 163 |
| 20 | 19 | 20 | 19 | 19 | 21 | 20 | 18 | 17 | 18 | |
| 0 | 0 | 0 | 0 | 0 | 15 | 27 | 35 | 35 | 35 | |
| 58 | 57 | 66 | 68 | 68 | 94 | 85 | 73 | 62 | 75 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 18 | 19 | 22 | |
| Cash & Bank | 2 | 1 | 1 | 2 | 1 | 1 | 3 | 1 | 1 | 2 |
| 20 | 21 | 28 | 31 | 33 | 35 | 32 | 25 | 28 | 11 | |
| Total Assets | 99 | 97 | 113 | 120 | 121 | 165 | 166 | 169 | 162 | 163 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -4 | 5 | -5 | 4 | 12 | -8 | 19 | 20 | 23 | 4 | |
| Cash from Investing | -2 | -1 | -2 | -1 | 2 | -18 | -14 | -22 | -4 | 16 |
| Cash from Financing | 11 | -3 | 8 | 1 | -12 | 30 | 2 | 6 | -15 | -16 |
| 1 | -1 | -0 | 1 | -1 | -0 | 1 | -0 | 0 | 1 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-07 - Modi Naturals Limited has informed the Exchange regarding 'Report on Transfer Requests of Physical Shares re-lodged under the special window'.
2026-08-17 - Modi Naturals Limited has informed the Exchange regarding a press release dated August 17, 2026, titled "Press Release".
2026-08-17 - Modi Naturals Limited has informed the Exchange about Investor Presentation
2026-08-15 - Modi Naturals Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-14 - Financial Results for the quarter ended 30th June, 2026
2026-08-14 - Outcome of Meeting of Board held on 14.08.2026
2026-08-06 - Report on Transfer Requests of Physical shares re-lodged under the Special Window
2026-08-05 - Clarifications
2026-08-01 - Appointment Of Secretarial Auditor
News
Recent coverage and analyst commentary for MODINATUR
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Modi Naturals Ltd.
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