Modi Naturals Ltd. – Company Report
1. Company Overview
Modi Naturals Ltd., incorporated in 1974 by D. D. Modi, is a leading Indian manufacturer of edible oils, ready-to-cook (RTC) foods, and ethanol-based biofuels. Headquartered in New Delhi with manufacturing facilities in Pilibhit (Uttar Pradesh) and Sangrur (Punjab), the company has grown into one of India’s largest rice bran oil processors and an emerging force in the FMCG and green energy sectors. With a workforce of 500–1,000 employees, Modi Naturals emphasizes health, sustainability, and innovation. It is listed on the Bombay Stock Exchange and is currently led by Akshay Modi (Joint-Managing Director), along with Aditi Modi, Anil Modi, and others.
- Incorporated: 1974
- Headquarters: New Delhi, India
- Factories: Pilibhit, Uttar Pradesh; Sangrur, Punjab
- Employees: 500–1,000
- Certifications: ISO standards, sustainability initiatives
- Listed: BSE (Ticker: MODINAT)
- Executive Leadership: Akshay Modi (Joint-MD), Aditi Modi, Anil Modi, Pradeep Kapoor, others
2. Products and Services
Modi Naturals operates across three primary verticals:
Consumer Products:
- Cooking Oils: Oleev Active, Oleev Olive, Oleev Health, Rizolo Rice Bran Oil, Miller Canola Oil, Olivana Wellness Oil
- FMCG Packaged Foods: Oleev Kitchen (RTC pasta, spaghetti, macaroni, peanut butter), Pipo (popcorn, peanuts), Taste Bomb (instant masala), JYNX (drink mixes)
Bulk Oils & Ingredients:
- Rice bran oil, soyabean oil, sunflower oil, canola oil
- De-oiled cakes and rice bran wax for industrial and feed applications
Ethanol & Biofuels:
- Ethanol for Oil Marketing Companies (OMCs) aligned with India’s green fuel policy
- Industrial chemicals, liquid CO₂, and agri-feed derivatives
Products are distributed pan-India through general trade, modern retail, and e-commerce. The company’s brands such as Oleev and Pipo have gained strong consumer recognition, while the ethanol division is scaling up rapidly.
3. Recent News and Financial Performance (FY2025)
Business Developments:
FY2025 marked a record year driven by new launches, brand-building campaigns, and profitability recovery in the bulk oil segment.
Ethanol Expansion Project (December 2024):
- Announced ₹100 crore capex via subsidiary MBPL to expand ethanol capacity from 130 KLPD to 310 KLPD, to be completed by Q3 FY2026.
- The first phase (grain-based distillery, Chhattisgarh) was commercialized in September 2023.
Major Ethanol Supply Order (October 2024):
- Secured ₹300 crore order to supply 41,600 KL ethanol to OMCs for ESY 2024–25 (Nov–Oct).
FMCG Growth & Diversification:
- Launched Oleev Kitchen Junior Peanut Butter and JYNX instant beverages.
- Plans to invest ₹100 crore in food business over the next few years to grow RTC and RTE portfolios.
4. Financial Performance (FY2025):
| Metric | FY2025 |
|---|---|
| Total Revenue | ₹663 crore (↑66% YoY) |
| Operating Profit | ₹56 crore |
| Operating Profit Margin | 8.6% |
| Net Profit (PAT) | ₹31.02 crore |
| Net Profit Margin | 4.7% |
| EPS | ₹23.7 |