Modi Naturals gets Rs 140-crore ethanol order from OMCs

Modi Naturals will be in focus on Tuesday after its subsidiary Modi Biotech received an additional ethanol order of 1.98 crore litres from oil marketing companies. The order is valued at Rs 140 crore and supplies will continue until October 2026. This is on top of an existing order worth around Rs 400 crore.

The company reported a steady June quarter, with revenue rising 0.4% year-on-year to Rs 155.6 crore. EBITDA grew 25.6% to Rs 22.2 crore and net profit increased 19.1% to Rs 12.5 crore. Sequentially, revenue fell 36% from the March quarter.The ethanol business was affected by a planned 20-day maintenance shutdown and lower FCI rice prices, but management said underlying performance has improved significantly.

The company is expanding capacity from 130 KLPD to 282 KLPD in the second phase of its ethanol expansion. Both existing and expanded plants are expected to be fully operational by the end of August 2026. For FY27, the company has set a revenue guidance of Rs 925-965 crore, compared with Rs 719 crore in FY26.