Modi Naturals has reported a strong turnaround in FY25, setting ambitious growth targets for the coming year with a sharper focus on its FMCG portfolio.
The company’s revenue from operations rose 65.8% year-on-year to ₹663 crore. EBITDA surged 517% to ₹56 crore, with margins improving to 8.4%. Profit After Tax (PAT) swung into the positive at ₹31 crore, compared to a loss of ₹1.4 crore in FY24. Operating cash flow also improved significantly to ₹48.8 crore, against negative cash flow of ₹6.8 crore in the previous year. Return on Capital Employed (ROCE) stood at 18.3%, up from 2.1% in FY24.
The ethanol division remained a key growth driver, generating robust cash flows that are being reinvested into building Modi Naturals’ FMCG brands, distribution network, and consumer equity.
For FY26, the company has projected revenue in the range of ₹850–880 crore, EBITDA between ₹80–85 crore, and PAT of ₹42–48 crore.
Modi Naturals’ portfolio spans edible oils, popcorn, pasta, peanut butter, and instant drink mixes. Earlier this year, it soft-launched its ready-to-mix beverage brand Jynx. While FY25 posed challenges for the consumer division due to lower branded oil prices, demand has started to recover across both food and oils. Margin growth was supported by supply chain efficiencies, manpower optimization, and reduced advertising spends.
Industry estimates (CRISIL, IBEF) indicate that India’s FMCG sector will grow at a CAGR of 27.9% between 2021 and 2027, touching nearly $616 billion. With rural demand rising, urban consumption steady, and online channels projected to contribute 11% of FMCG sales by 2030, Modi Naturals aims to capture a meaningful share of this momentum.
