Modi Naturals Limited · NSE:MODINATUR
Modi Naturals — FY2026 Earnings Presentation
50 slides from Modi Naturals's earnings presentation, May 13, 2026
Slide 1: Investor Presentation forwarding letter to exchanges
13th May, 2026 The Manager The Manager Corporate Relationship Department Listing Department BSE Limited National Stock Exchange of India Limited First Floor, New Trade Wing Rotunda Exchange Plaza, 5th Floor Plot No. C/1, ‘G’ Building, Phiroze Jeejeebhoy Towers, Block, Bandra- Kurla Complex Bandra, E
Slide 2: Modi Naturals Limited Investor Presentation: May'26
Modi Naturals Limited Investor Presentation: May’26 Website
Slide 3: Safe Harbour
Safe Harbour This presentation has been prepared by and is the sole responsibility of Modi Naturals Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or ind
Slide 4: At an Inflection Point: Transforming for the Future
At an Inflection Point: Transforming for the Future Strong Platform Established Ready to Scale • Enhancing operational efficiencies through a • Bulk Division Edible commodity segment with integrated sourcing capabilities > • leaner working capital model Focused on sustained cash generation and retur
Slide 5: Q4 & FY26 Result Highlights
Q4 & FY26 Result Highlights
Slide 6: Key Parameters for FY26
Key Parameters for FY26 Revenue from Operations EBITDA PAT* Cash Flow from Operations Rs 719.2 cr Rs 73.5 cr Rs 50.3 cr +8.5% YoY +31.2% YoY +62.1% YoY Rs 61.1 cr vs 48.8 cr in FY26 ROCE Debt/Equity Net Working Capital Days 19.9% 0.94 in Mar’26 62 Days in Mar’26 vs 18.3% FY25 vs 1.22 in Mar’25 vs 66
Slide 7: Consolidated Financial Performance
Consolidated Financial Performance Rs in Cr Revenue EBITDA PAT 28.0% 52.2% 141.1% 243.1 24.5 19.7 189.9 174.1 Q4FY26 16.1 16.0 10.0 8.2 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26 Q4FY25 Q3FY26 Q4FY26* 8.5% 31.2% +62.1% 719.2 73.5 50.3 662.9 56.0 FY26 31.0 FY25 FY26 FY25 FY26 FY25 FY26* *Includes Rs 4
Slide 8: Strengthening Performance
Strengthening Performance ROCE (%) Cash flow from Operation (Rs in cr) 19.9% 61.1 18.3% 48.8 2.1% -6.8 FY24 FY25 FY26 FY24 FY25 FY26 Working capital cycle Inventory Days Debtor Days Creditor Days Net Working Capital Days 117 25 26 31 111 24 20 21 66 62 60 59 FY24 FY25 FY26 FY24 FY25 FY26 FY24 FY25 F
Slide 9: Management Commentary
Management Commentary Commenting on the performance, Mr. Akshay Modi, Joint Managing Director, of Modi Naturals, said, “FY26 marks an important inflection point for us. Over the last few years, we have focused on building a stronger, more sustainable business platform, and we believe the foundations
Slide 10: Ethanol Division Performance
Ethanol Division Performance Rs in Cr 92.2 337.4 86.7 326.5 81.1 FY27 Revenue FY24 FY26 & Beyond 282 KLPD Focus on Ramping 130 KLPD 42.1 ~ 117% increase up facility over FY26 Q4FY25 Q3FY26 Q4FY26 FY24* FY25 FY26 Strong Order and Demand Visibility 15.1% 17.3% 20.1% 13.2% 13.1% 17.3% Received order of
Slide 11: Consumer Division Performance
Consumer Division Performance Rs in Cr 50.9 179.4 183.5 48.5 169.1 41.9 Higher share of Premium value added products Revenue strengthening overall brand value and profitability Q4FY25 Q3FY26 Q4FY26 FY24 FY25 FY26 Focused on Building Stronger Consumer Categories 6.2% 9.2% 8.2% 10.6% 8.4% 8.3% Increas
Slide 12: Bulk Division Performance
Bulk Division Performance Rs in Cr 100.0 198.3 Revenue 56.1 158.6 51.0 • Lean Inventory and Procurement Strategy o Adoption of a leaner inventory model has enabled to respond more efficiently to Q4FY25 Q3FY26 Q4FY26 FY25 FY26 commodity price movements and market dynamics 1.6% -2.6% 2.7% 0.3% 0.7% o
Slide 13: Path to Future Growth
Path to Future Growth Particulars Guidance Guidance FY25 Actual FY26 Achievement (Rs in Cr) FY26 FY27E Revenue 663 720-730 719 925-965 EBITDA 56 68-72 74 100-105 PAT 31 42-48 50* 66-70 Branded Ethanol Margins & Profitability Growth Drivers ▪ Improved profitability and healthy cash generation to for
Slide 14: Consolidated Profit & Loss Account
Consolidated Profit & Loss Account Particulars (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 Q-o-Q FY26 FY25 Y-o-Y Revenue from Operations 243.1 189.9 28.0% 174.1 39.6% 719.2 662.9 8.5% Cost of Goods Sold 190.0 145.4 134.1 546.9 511.2 Gross Profit 53.1 44.5 19.4% 40.0 32.9% 172.3 151.7 13.5% Gross Profit Ma
Slide 15: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Crs) Mar-26 Mar-25 Equity & Liabilities (in Rs. Crs) Mar-26 Mar-25 Non - Current Assets 234.6 170.9 Total Equity 172.1 121.6 Property Plant & Equipments 213.5 144.8 Equity Share capital 13.3 13.3 CWIP 19.4 16.1 Other Equity 158.8 108.2 Other Intangible Asset
Slide 16: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Crs) FY26 FY25 Net Profit Before Tax 63.5 37.7 Adjustments for: Non-Cash Items / Other Investment or Financial Items 17.6 20.8 Operating profit before working capital changes 81.1 58.5 Changes in working capital -1.0 5.1 Cash generated from/(used in)
Slide 17: Standalone Profit & Loss Account
Standalone Profit & Loss Account Particulars (in Rs. Crs) Q4FY26 Q4FY25 YoY Q3FY26 Q-o-Q FY26 FY25 Y-o-Y Revenue from Operations 150.9 104.6 44.2% 93.0 62.3% 381.8 338.0 13.0% Cost of Goods Sold 122.4 75.8 72.0 289.2 240.0 Gross Profit 28.5 28.8 -1.0% 20.9 36.2% 92.6 98.0 -5.5% Gross Profit Margin 1
Slide 18: Standalone Balance Sheet
Standalone Balance Sheet Assets (in Rs. Crs) Mar-26 Mar-25 Equity & Liabilities (in Rs. Crs) Mar-26 Mar-25 Non - Current Assets 54.7 63.1 Total Equity 110.7 100.5 Property Plant & Equipments 18.2 17.3 Equity Share capital 13.3 13.3 CWIP - 0.1 Other Equity 97.4 87.2 Other Intangible Assets 0.1 0.1 Mo
Slide 19: Standalone Cash Flow Statement
Standalone Cash Flow Statement Particulars (Rs. Crs) FY26 FY25 Net Profit Before Tax 13.7 10.3 Adjustments for: Non-Cash Items / Other Investment or Financial Items 4.0 5.4 Operating profit before working capital changes 17.6 15.6 Changes in working capital -10.7 8.4 Cash generated from/(used in) op
Slide 20: Upgradation of Credit Rating
Upgradation of Credit Rating Credit Ratings Total Bank Loan Rs. 65.00 Cr Facilities Rated IVR BBB/Stable (Rating Long Term Rating Upgraded) Short Term Rating IVR A3+ (Rating Upgraded) The Upgrade Reflects • Significant profitability improvement driven by Ethanol contribution, premiumization in brand
Slide 21: Our Business
Our Business
Slide 22: Business Verticals
Business Verticals • Preference to Olive Oil with Consumer Shift to Consumer • 3rd Largest Premium Edible Oil Brand Healthy Products • Largest player in " Goodness of olive oil“ • Expanding Presence in Food Products Division • 2nd Ranked Super-Premium Refined Oil • Leveraging Distribution Network fo
Slide 23: Modi Naturals - At A Glance
Modi Naturals - At A Glance Position • 3rd Largest Super Premium INTEGRATED VALUE-ADDED PLAYER OFFERS COMPREHENSIVE RICE RANGE Edible Oil Brand FROM OIL TO ETHANOL • Largest in the Goodness of Rice Olive Oil Space Only Player Making Unique Proposition Multi-Source Olive Oil • • Rice Bran Oil (Bulk O
Slide 24: New Launches in the Food Business
New Launches in the Food Business • We are extending our range of ready to cook pasta and adding new shapes i.e., macaroni and spaghetti • With our commitment to innovation in the food category, we are launching a one of its kind multi-grain pasta with the goodness of 4 Pasta grains, in the premium
Slide 25: Product Portfolio
Product Portfolio Edible Oil BRANDED Ready To Cook Segment Ready To Eat Segment Rice bran oil Rice bran de- oiled cakes BULK OIL ETHANOL Rice bran wax 24
Slide 26: Consumer Business
Consumer Business Modi Natural’s Presence Super Premium Olivana, Extra Virgin Olive Oil, Olive Pomace Edible Oil Oil, Miller Canola Oil (Canola Oil, Olive Oil) Premium Multisource Oil Oleev Active, Oleev Health, Oleev Smart (Rice Bran + Olive Oil, Rice Bran + Canola Oil) Commodity Based Edible Oil (
Slide 27: Flagship Product – Oleev Active
Flagship Product – Oleev Active Health Benefits High Smoke Point Oleev Active's high smoke point makes it suitable for frying. It Multisource Oil Immune Booster prevents fatty acid degradation at high temperatures, making food Multisource Healthy Oil with a Rich in oryzanol that boost healthier uniq
Slide 28: Sneak Peak Of The Oleev Brand
Sneak Peak Of The Oleev Brand • Low on SFA that • Vitamin E in Oleev • Contains Omega • Rich in vitamins A, D, • Easily digested ensures a smooth Pomace shields the 3, 6, 9 along with E & K, which are vital and helps with blood flow and body from goodness of for smooth weight loss higher energy leve
Slide 29: Sneak Peak Of The Oleev Brand
Sneak Peak Of The Oleev Brand • 26gm protein per • Natural Olive Oil • Omega 3 & 6 helps • Low absorption • Rich in protein 100gm serving with Vitamin E & Pro to improve the technology, up to • Source of fibre • Source of Calcium, vitamin A nutrition value of 20% low fat intake • Untouched by hand P
Slide 30: From Rice To Oil
From Rice To Oil Rice Bran Air Separator Broken Rice Animal Feeds Steam Cooking & Drying Solvent Solvent Storage Solvent Extraction Desolventizing Deoiled Bran Refined Rice Bran Oil Condenser Distillation Crude Rice Bran Oil Degumming Decoloration Dewaxing Deodorization Degrease 29
Slide 31: From Rice To Ethanol
From Rice To Ethanol Grain Storage Milling Cooking Liquefaction DDGS* Distillation Fermentation To Fuel Market Storage 30 *Dried Distillers Grains Used for Animal Feed
Slide 32: De-coding the Ethanol Business
De-coding the Ethanol Business • Received an approval for 310 KLD distillery High Margin Product • 1st phase of 130 KLPD commenced in Q3FY24 with a capital expenditure of Rs 150 cr Large Demand Supply gap • 2nd Phase of 180 KLPD is in progress with an estimated capital expenditure of Rs ~100 cr Key
Slide 33: Ethanol – a step Towards Growth
Ethanol – a step Towards “Growth…..!” Increased Production ADVANTAGES Increasing Blending Rate has led to Capacity 01 Environment Friendly Molasses Grain Total (Cr Litre) Growth Opportunity for Modi Naturals Supports sugarcane, 02 maize & rice 2x 3.5x 3x 20% farmers 760 740 1,500 10% 426 Cuts Oil 65
Slide 34: Grain-Based Ethanol Distillery
Grain-Based Ethanol Distillery Phase I Capacity Phase II Capacity Total Capacity Power Plant 130 KLD 152 KLD 282 KLD Capex Rs 125 cr Capex Rs 91 cr 5.5 MW Fermentation Distillation Silo Powerhouse Storage Tank Commenting on the commercialisation of the plant, Mr. Akshay Modi, Managing Director of Mo
Slide 35: Manufacturing Units
Manufacturing Units Pilibhit (Uttar Pradesh) Hyderabad Sonipat (Haryana) Rice Bran Oil & Oil Packing Line Popcorn Unit Oil Packing Line Refinery - 100 TPD Packing Line - 25 TPD Packing Line - 5 TPD Packing Line - 50 TPD Leased and thus Leased and thus Owned Asset Light Asset Light Pasta & Peanut But
Slide 36: Our Journey
Our Journey 1974: Incorporation of 1992: Establishment of the 2009:Launch of Refined 2015: Started new consumer Commericalised Incorporated Modi Biotech 2nd phase of the Company edible oil refinery in Rice Oil by up-gradation brands: Rizolo, Olivana Pvt. Ltd (W.O.S) for the Ethanol Division 1985: Li
Slide 37: Marketing Strategy
Marketing Strategy
Slide 38: The Modi Naturals Advantage
The Modi Naturals Advantage Oleev Branded Products – Healthy Food Category Only company in India refining olive oil & Oleev Kitchen - Peanut Butter Oleev Kitchen - Pasta selling blended olive oil Gluten Free & High Protein 0% Maida Premium Grocery Product Market Size growing at Extension to 30% CAGR
Slide 39: Brand Ambassador for Oleev Brand
Brand Ambassador for Oleev Brand Karisma Kapoor - Brand Ambassador “make right choices and do what's right for you” ➢ Onboarded Bollywood icon Karisma Kapoor as the face of its new marketing campaign, to strengthen the brand’s positioning while promoting healthier, sustainable choices that support l
Slide 40: Distribution Channels
Distribution Channels Modern Trade Channels Retail Sales Canteen Store Department Direct Reach 50,000+ outlets Modern Retail Outlets 3,000+ E-Commerce Platforms Sales Depot 20+ Distributors 450+ 39
Slide 41: Strategy Building
Strategy Building Leverage Multi– Strong & Competitive 01 06 Brand Distribution Portfolio 02 05 Digital First Approach to Focused Social Media brand building & Content Strategy 03 04 In-house D2C Fitness Icon As Platform Brand Ambassador 40
Slide 42: Key Focus Areas
Key Focus Areas Multi – Brand Health With Approach Taste New Product Ethanol to be the Development in Branded growth driver Segment 41
Slide 43: Management Team
Management Team
Slide 44: Visionaries Driving The Business
Visionaries Driving The Business Mr. Anil Modi- Chairperson & Managing Director • Mr. Anil Modi, aged 63, is one of the founding members of Modi Naturals Limited • He is on the Board of the Company since 1976 • He has over 3 decades of invaluable experience in the line of the business of the Company
Slide 45: Board of Directors
Board of Directors Aditi Modi Udit Jain Ankita Singal Ankit Garg Whole Time Director Independent Director Independent Director Independent Director • She is B.Com (H) from • He is a Commerce • Ms. Aditi Modi is a finance • He is a commerce Lady Sriram College for Graduate and having professional wit
Slide 46: Historical Financials
Historical Financials
Slide 47: Consolidated Profit And Loss Statement
Consolidated Profit And Loss Statement Profit and Loss (in Rs. Cr) FY26* FY25* FY24* FY23 FY22 Revenue from Operations 719.2 662.9 399.8 418.0 474.3 Cost of Goods Solds 546.9 511.2 300.0 329.5 373.9 Gross Profit 172.3 151.7 99.8 88.4 100.4 Gross Profit Margin 24.0% 22.9% 25.0% 21.2% 21.2% Employee C
Slide 48: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (in Rs. Cr) Mar-26* Mar-25* Mar-24* Mar-23 Mar-22 Equity & Liabilities (in Rs. Cr) Mar-26* Mar-25* Mar-24* Mar-23 Mar-22 Non - Current Assets 234.6 170.9 150.4 47.9 33.1 Total Equity 172.1 121.6 90.6 81.9 77.2 Property Plant & Equipments 213.5 144.8 148.9 19.5 25.8
Slide 49: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (Rs. Cr) FY26* FY25* FY24* FY23 FY22 Net Profit Before Tax 63.5 37.7 -1.7 2.0 13.0 Adjustments for: Non-Cash Items / Other Investment or Financial Items 17.6 20.8 12.1 5.9 4.3 Operating profit before working capital changes 81.1 58.5 10.4 7.9 17.3 Changes
Slide 50: For further information, please contact
For further information, please contact Company: Modi Naturals Limited CIN - L15142DL1974PLC007349 Mr. Akshay Modi cs.mnl@modinaturals.org www.modinaturals.com Investor Relations Advisors : Strategic Growth Advisors Pvt. Ltd. CIN - U74140MH2010PTC204285 Mr. Mandar Chavan / Ms. Khushi Bhandari mandar