Modi Naturals Ltd

Modi Naturals Q2 Update: Strong Ethanol Growth & Margin Expansion 🚀

- OMCs placed ethanol orders worth ₹400 Cr in Oct 2025 tender

- Ethanol capacity expansion to 310 KLPD on track (Phase 2 by Dec 2025)

- Consumer division spent ₹6.3 Cr on marketing in Q2 (₹9.15 Cr H1 FY26)

- Bulk division turned EBITDA positive: ₹1.2 Cr profit in H1 vs ₹1.5 Cr loss last year

- Ethanol revenue: ₹84.7 Cr (Q2), ₹164.1 Cr (H1); margins at 14.3% (Q2) & 15.6% (H1)

- Consolidated Q2 revenue up 0.3% to ₹147 Cr, PAT jumps 32.8% to ₹10.1 Cr

- H1 revenue up 2.7% to ₹302 Cr, PAT up 36.7% to ₹20.6 Cr

- New products (Hing spices, pasta) performing well

- Tier 2/3 market focus driving geographic growth

- Management confident in FY26 guidance, expects stronger H2 performance

- Debt: ₹125 Cr long-term, ₹45 Cr short-term (as of Sept 2025)