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MODINATUR - Modi Naturals

📊 NSE: MODINATUR 🏢 Other Agricultural Products 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Modi Naturals Reports Nil Physical Share Transfer Requests Under Special Window

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 13 Mar 2026, 11:16 AM

Modi Naturals Limited has filed a monthly report regarding the special window for transfer and dematerialization of physical securities as per SEBI guidelines. For the reporting period between February 5, 2026, and March 9, 2026, the company received zero requests for physical share transfers. The report, prepared by Registrar and Transfer Agent Skyline Financial Services, confirms no activity in this category. This is a standard regulatory compliance filing with no impact on the company's operational or financial performance.

Zero (0) requests were received for physical share transfers during the period Feb 5 to Mar 9, 2026.
Zero (0) requests were processed, approved, or rejected by the Registrar and Transfer Agent.
The filing complies with SEBI Circular SEBI/HO/38/13/11(2)2026-MIRSD-POD/1/3750/2026.
Average time taken for processing such requests remains at zero days due to nil volume.

💡 No action is required from investors as this is a routine administrative disclosure. Focus should remain on the company's core business performance and upcoming quarterly earnings.

Modi Naturals to Host Virtual Group Investor Meeting on March 13, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 10 Mar 2026, 04:27 PM

Modi Naturals Limited has announced a scheduled interaction with institutional investors and analysts set for March 13, 2026. The meeting will be conducted virtually in a group format from 2:00 PM to 3:00 PM IST. The company has explicitly stated that the discussions will be limited to publicly available information and no unpublished price sensitive information (UPSI) will be disclosed. This filing is a routine compliance measure under Regulation 30 of SEBI LODR.

Virtual group meeting scheduled for March 13, 2026, from 2:00 PM to 3:00 PM.
Interaction involves multiple analysts and institutional investor participants.
Company confirms no unpublished price sensitive information (UPSI) will be shared.
Compliance filing submitted under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

💡 Investors should watch for any post-meeting presentations or transcripts filed with the exchanges for insights into management's outlook. No immediate trading action is necessary based solely on this scheduling announcement.

Modi Naturals Q3 PAT Jumps 28.5% YoY; FY26 Revenue Guidance Revised Downward

🔵 WATCH ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 07:14 PM

Modi Naturals reported a strong 28.5% YoY growth in Q3FY26 PAT to ₹10.0 crore, despite a 2.8% dip in consolidated revenue to ₹174.1 crore. For the 9MFY26 period, PAT rose 33.9% to ₹30.6 crore, driven by improved operating leverage and lower finance costs from debt repayment. However, the company has lowered its FY26 revenue guidance to ₹720-730 crore from ₹850-880 crore due to delays in commissioning its 180 KLPD ethanol expansion. The ethanol division remains the primary growth catalyst, with total capacity set to reach 310 KLPD by the end of February 2026.

Q3FY26 PAT increased by 28.5% YoY to ₹10.0 crore, while EBITDA grew 20.7% to ₹16.0 crore.
9MFY26 EBITDA margins expanded to 10.3% from 8.4% YoY, aided by softer raw material costs and lower finance charges.
Ethanol capacity expansion of 180 KLPD is scheduled for commissioning by late February 2026, taking total capacity to 310 KLPD.
FY26 revenue guidance slashed to ₹720-730 crore (previously ₹850-880 crore) due to ethanol project delays.
Consumer division revenue stood at ₹46.3 crore in Q3, showing resilience despite GST-related billing disruptions in October 2025.

💡 Investors should monitor the successful commissioning and ramp-up of the 180 KLPD ethanol facility in Q4, as this is critical for meeting revised targets. While the guidance cut is a short-term negative, the improving margin profile and debt reduction are positive indicators for long-term stability.

Modi Naturals Q3 Net Profit Rises 28% YoY to ₹10.04 Cr Despite Marginal Revenue Dip

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 14 Feb 2026, 06:58 PM

Modi Naturals reported a consolidated net profit of ₹10.04 crore for the quarter ended December 31, 2025, representing a 28.5% growth compared to ₹7.82 crore in the previous year. While revenue from operations saw a slight decline of 2.7% YoY to ₹174.09 crore, the company significantly improved its bottom line through reduced finance costs and strong subsidiary performance. For the nine-month period, PAT surged by 33.9% to ₹30.61 crore. The subsidiary, Modi Biotech Private Limited, played a crucial role, contributing ₹81.19 crore to the quarterly revenue and ₹8.92 crore to the profit.

Consolidated Net Profit increased to ₹10.04 crore in Q3 FY26 from ₹7.82 crore in Q3 FY25.
Revenue from operations stood at ₹174.09 crore, down slightly from ₹179.02 crore YoY.
Finance costs decreased significantly to ₹1.82 crore from ₹3.14 crore in the year-ago quarter.
Subsidiary Modi Biotech Private Limited contributed ₹81.19 crore in revenue and ₹8.92 crore in PAT for the quarter.
Nine-month PAT grew to ₹30.61 crore compared to ₹22.86 crore in the corresponding period last year.

💡 Investors should note the strong profitability growth driven by the biotech subsidiary and efficient cost management. The reduction in finance costs suggests improving financial health, making it a stock to watch for further margin expansion.

Modi Naturals Q3 FY26 Consolidated PAT Rises 28.5% YoY to ₹10.04 Cr; Revenue at ₹174.09 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 14 Feb 2026, 06:51 PM

Modi Naturals reported a strong bottom-line performance for the quarter ended December 31, 2025, with consolidated Net Profit rising to ₹10.04 crore from ₹7.82 crore in the same period last year. While revenue from operations saw a marginal decline to ₹174.09 crore compared to ₹179.02 crore YoY, the company's profitability improved significantly. The nine-month performance also showed robust growth, with PAT reaching ₹30.61 crore against ₹22.86 crore in the previous year. The subsidiary, Modi Biotech, played a crucial role, contributing nearly 47% of the group's quarterly revenue.

Consolidated Net Profit for Q3 FY26 increased by 28.5% YoY to ₹1,004.43 lakhs.
Revenue from operations for the quarter stood at ₹17,409.31 lakhs, slightly down from ₹17,901.68 lakhs in Q3 FY25.
Nine-month (9M FY26) PAT grew by 33.9% to ₹3,061.00 lakhs compared to ₹2,286.49 lakhs in 9M FY25.
Subsidiary Modi Biotech Private Limited contributed ₹8,118.71 lakhs in revenue and ₹892.05 lakhs in PAT during the quarter.
Earnings Per Share (EPS) for the quarter improved to ₹7.55 from ₹5.88 in the corresponding previous year quarter.

💡 Investors should focus on the company's improving margins and the strong contribution from its biotech subsidiary which is driving profitability. The stock may see positive momentum due to the significant jump in net profit despite stagnant revenue growth.

Modi Naturals Reports Nil Physical Share Transfer Requests for December 2025

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 11:36 AM

Modi Naturals Limited has submitted its monthly report regarding physical share transfer requests re-lodged under the SEBI special window for December 2025. The report, provided by the Registrar and Transfer Agent Skyline Financial Services, indicates that no requests were received or processed during this period. This filing is a standard regulatory requirement following SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/97. As there were zero transactions, there is no impact on the company's shareholding structure or operations.

Zero (0) requests for physical share transfers were received during December 2025.
Zero (0) requests were processed, approved, or rejected by the Registrar.
The filing complies with SEBI Circular dated July 2, 2025, regarding special window re-lodgements.

💡 No action is required as this is a routine regulatory disclosure with no material impact on the company's financials or shareholding.

Modi Naturals Submits SEBI Regulation 74(5) Compliance Certificate for Q3 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 06 Jan 2026, 11:23 AM

Modi Naturals Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by Skyline Financial Services Private Limited (RTA), confirms the processing of dematerialization requests for the quarter ended December 31, 2025. This is a mandatory procedural filing required for all listed companies to ensure the accuracy of shareholding records with depositories. The filing indicates that the company is meeting its standard regulatory obligations on time.

Compliance certificate submitted under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018.
The report covers the third quarter of the financial year ending December 31, 2025.
Skyline Financial Services Private Limited confirmed as the Registrar and Transfer Agent (RTA).
Confirms that securities received for dematerialization have been processed and registers updated.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the company's upcoming quarterly financial results for performance insights.

Modi Naturals Announces Trading Window Closure from Jan 1, 2026 for Q3 FY26 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Dec 2025, 09:35 AM

Modi Naturals Limited has announced the closure of its trading window starting January 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is specifically for the quarter ending December 31, 2025, and applies to all promoters, directors, and designated persons. The window will remain closed until 48 hours after the official publication of the company's un-audited financial results. This is a standard regulatory procedure to prevent insider trading ahead of financial disclosures.

Trading window closure begins on January 1, 2026.
Closure pertains to the un-audited financial results for the quarter ending December 31, 2025.
Restriction applies to Promoters, Directors, and Designated Persons of the company.
Trading window will reopen 48 hours after the financial results are declared.
The date for the Board Meeting to approve results will be announced later.

💡 No action is required as this is a routine regulatory filing. Investors should focus on the upcoming Q3 financial results to assess the company's performance.

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💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 2.7% YoY to INR 302.0 Cr in H1 FY26. The Ethanol division is the primary growth engine, while the Bulk Business Division achieved an EBITDA turnaround to INR 1.2 Cr in H1 FY26 from a loss of INR 1.5 Cr YoY. The Consumer Division is targeting a long-term revenue of INR 500 Cr.

Geographic Revenue Split

Not disclosed in available documents; operations are primarily focused on the Indian domestic market through its consumer and ethanol divisions.

Profitability Margins

Gross Profit Margin improved to 26.2% in H1 FY26 from 23.7% YoY. PAT Margin increased to 6.8% in H1 FY26 compared to 5.1% in H1 FY25, driven by better operational alignment and the high-margin ethanol segment.

EBITDA Margin

EBITDA Margin stood at 10.9% for H1 FY26, a significant increase from 9.0% in H1 FY25. Absolute EBITDA grew 24.0% YoY to INR 33.0 Cr, reflecting improved efficiency in the bulk segment and robust ethanol performance.

Capital Expenditure

The company is executing a major debt-funded expansion of its ethanol plant (Modi Biotech) to increase capacity by 180 KLPD. Total project completion is expected by December 2025, bringing total capacity to 310 KLPD.

Credit Rating & Borrowing

Assigned IVR BBB-/Stable for long-term and IVR A3 for short-term facilities. Finance costs decreased 17% YoY to INR 4.4 Cr in H1 FY26 due to improved debt management, with a Debt/Equity ratio of 1.07x.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include crude edible oils for the consumer/bulk divisions and feedstocks (grains/rice) for ethanol production. Raw material costs (COGS) represented 73.8% of revenue in H1 FY26 (INR 222.8 Cr).

Import Sources

Not disclosed in available documents, though the edible oil industry typically relies on imports for crude oil and domestic sourcing for grains.

Capacity Expansion

Current ethanol capacity is 130 KLPD; expanding to 310 KLPD with an additional 180 KLPD unit expected to commence operations by December 2025.

Raw Material Costs

COGS as a percentage of revenue decreased from 76.3% in H1 FY25 to 73.8% in H1 FY26, reflecting better procurement planning and a strategic transition to a lower-inventory operating model.

Manufacturing Efficiency

ROCE improved significantly to 19.1% in H1 FY26 from 11.5% in H1 FY25, indicating higher efficiency in utilizing capital for production following the stabilization of the ethanol plant.

📈 Strategic Growth

Expected Growth Rate

28-32%

Growth Strategy

Growth will be achieved by more than doubling ethanol capacity to 310 KLPD by Dec '25, participating in new tender rounds for ethanol, and scaling the FMCG business through a 30% increase in advertising spend (INR 9.15 Cr in H1 FY26) to reach a segment target of INR 500 Cr.

Products & Services

Edible oils, food products, ethanol, and ethanol byproducts.

Brand Portfolio

Branded consumer products (including oils and niche food categories) under the Consumer Division.

New Products/Services

Launch of new products in niche food categories and expansion of assortment on quick commerce and modern trade platforms.

Market Expansion

Expansion of distribution through quick commerce and hiring a new brand ambassador to increase market penetration for the branded division.

🌍 External Factors

Industry Trends

The ethanol industry is benefiting from favorable government policy support for blending; the company expects the industry to move toward incremental capacity additions following a period of rapid augmentation.

Competitive Landscape

Intense competition in the edible oil industry leads to thin margins; the company is pivoting toward branded FMCG and ethanol to escape this commodity trap.

Competitive Moat

Moat is built on experienced promoters (4 decades of experience), a well-established supply chain, and a first-mover advantage in grain-based ethanol in its region.

Macro Economic Sensitivity

Highly sensitive to commodity price fluctuations in the edible oil market and government ethanol blending policies.

Consumer Behavior

Shift toward quick commerce and modern trade for food products, prompting the company to increase A&P spend to 10% of revenue.

Geopolitical Risks

Exposure to international edible oil price volatility which affects the input costs for the bulk and consumer divisions.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to government ethanol blending mandates and pricing, as well as food safety standards for the consumer division.

Taxation Policy Impact

Effective tax rate for H1 FY26 was approximately 18.6% (INR 4.7 Cr tax on INR 25.3 Cr PBT).

Legal Contingencies

The auditor's report indicates no material uncertainty regarding the company's ability to meet liabilities and no modified opinions from outgoing auditors.

⚠️ Risk Analysis

Key Uncertainties

Project execution and stabilization risk for the 180 KLPD ethanol expansion; risk of decline in ethanol offtake prices which could impact the subsidiary's profitability.