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Modi Naturals Ltd

Q3 FY26

Modi Naturals Q3 FY26: Capex ₹86 Cr

Q3 FY26 investor presentation: what the company reported on revenue, margins and projects.

Price₹373

Market cap₹496 Cr

P/E10.2

Updated16 Oct 2026

Read4 min read

Based on Modi Naturals Ltd's Q3 FY26 investor presentation. The company has not published an earnings-call transcript for this quarter, so figures here are what the investor presentation reports, not management guidance.

The short version

Q3FY26 Revenue (Consolidated): Rs. Quarterly EBITDA: ₹16.0 Cr (Q3FY26), up 20.7% YoY from ₹13.3 Cr (Q3FY25) [Page 10] - Quarterly Operating Margin (EBITDA Margin): 9.2% (Q3FY26) vs 7.4% (Q3FY25) [Page 10] - Quarterly Profit

From Modi Naturals Ltd's Q3 FY26 earnings-call transcript · updated 16 Oct 2026.

Revenue & Sales Performance

Q3FY26 Revenue (Consolidated): Rs. 174.1 crore, down 2.8% YoY from Rs. 179.0 crore in Q3FY25 (Page 10).
Q3FY26 Revenue (Standalone): Rs. 93.0 crore, down 4.4% YoY from Rs. 97.3 crore in Q3FY25 (Page 11).
Division-wise Q3FY26 Revenue:
Consumer Division: Rs. 132.7 crore, slight growth over Q3FY25 Rs. 130.9 crore (Page 8).
Ethanol Division: Rs. 245.2 crore for 9MFY26, up from Rs. 239.8 crore in 9MFY25 (Page 7).
Bulk Division: Rs. 98.3 crore for 9MFY26 vs Rs. 102.5 crore for 9MFY25, indicating some softness (Page 9).
Explicit Outlook:
FY26E Revenue guidance revised to Rs. 720-730 crore from Rs. 850-880 crore due to delay in commissioning additional ethanol capacity (Page 12).

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Profitability & Margins

Quarterly EBITDA: ₹16.0 Cr (Q3FY26), up 20.7% YoY from ₹13.3 Cr (Q3FY25) [Page 10]
Quarterly Operating Margin (EBITDA Margin): 9.2% (Q3FY26) vs 7.4% (Q3FY25) [Page 10]
Quarterly Profit After Tax (PAT): ₹10.0 Cr (Q3FY26), up 28.5% YoY from ₹7.8 Cr (Q3FY25) [Page 10]
Standalone EBITDA (Q3FY26): ₹2.0 Cr, down 34.5% YoY [Page 11]
Standalone PAT (Q3FY26): ₹1.1 Cr, down 56.8% YoY [Page 11]

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Capital Expenditure Plans

Grain-Based Ethanol Distillery plant with Phase 1 operating capacity of 130 KLD; capex incurred Rs. 150 Cr; operational as of Nov'23 (Page 26).
Expansion of Ethanol capacity from 130 KLPD to 310 KLPD planned (Page 12).
Additional 180 KLPD ethanol capacity trials underway, expected operation start by January 2026; commissioning expected end of February 2026 after regulatory approvals (Pages 7 and 12).
Total capex of ~Rs 86 Cr planned for ethanol business for capacity scaling and long-term growth (Page 7).

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Fundraising & Capital Structure

The Consolidated Balance Sheet on page 40 shows borrowings increased from Rs. 50.6 Cr in Mar-22 to Rs. 83.8 Cr in Mar-25* (current) and from Rs. 0.3 Cr in Mar-23 to Rs. 70.8 Cr in Mar-25* (non-current).
Money received against convertible warrants was Rs. 3.4 Cr in Mar-24*, but nil in Mar-25*.
Net Cash from Financing Activities (page 41) shows a cash outflow of Rs. 20.8 Cr in FY25*, but an inflow of Rs. 37.1 Cr in FY24*.
Management commentary (page 6) notes repayment of borrowings and lower use of working capital, reducing finance costs and strengthening the balance sheet.

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Order Book & Pipeline

The investor presentation does not explicitly report any details on order book, order inflow, or pending orders. The document focuses on: - Consolidated financial performance including revenue, EBITDA, PAT, margins, and cash flow. - Operational data like capacity expansion in the Ethanol division (from 130 KLPD to 310 KLPD). - Commentary on business segments (Consumer, Bulk, Ethanol) with performance drivers.

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Modi Naturals Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024Q3 FY25

Mar 2025Q4 FY25

Jun 2025Q1 FY26

Sep 2025Q2 FY26

Dec 2025Q3 FY26

Mar 2026Q4 FY26

Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹243 Cr, net profit ₹20 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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What Modi Naturals's management said in earlier quarters

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Frequently Asked Questions

What were Modi Naturals Ltd Q3 FY26 results?

Q3FY26 Revenue (Consolidated): Rs. Quarterly EBITDA: ₹16.0 Cr (Q3FY26), up 20.7% YoY from ₹13.3 Cr (Q3FY25) [Page 10] - Quarterly Operating Margin (EBITDA Margin): 9.2% (Q3FY26) vs 7.4% (Q3FY25) [Page 10] - Quarterly Profit

What is Modi Naturals Ltd share price analysis?

Modi Naturals Ltd currently shows a neutral. The stock trades at a P/E of 10.2 with a market cap of ₹496 Cr. Investors should review the full earnings analysis for detailed insights.

Is Modi Naturals Ltd planning capital expenditure?

Grain-Based Ethanol Distillery plant with Phase 1 operating capacity of 130 KLD; capex incurred Rs.

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This analysis is AI-generated based on publicly available earnings data and the company's investor presentation. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.