MODAIRY
Modern Dairies financials
- Market cap
- ₹115 Cr
Quarterly results
Q1 FY27: revenue up 16.6%, net profit up 29.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 74 | 89 | 91 | 78 | 82 +11% | 87 −1% | 92 +1% | 91 +17% |
| EBITDA | 4 | 3 | 2 | 3 | 3 −33% | 2 −23% | 2 −4% | 4 +26% |
| Net profit | 3 | 58 | 18 | 2 | 2 −49% | 1 −98% | 0 −98% | 2 +30% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −12.3% 1Y
1Y: ₹48.89 on 10 Sept 2025 → ₹42.87. High ₹49.17 (15 Sept 2025), low ₹27.44 (10 Aug 2026).
Financials, as filed
Revenue fell 3.0% a year over 2 years, FY24 to FY26. Operating margin narrowed to 2.9%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹362 Cr | ₹348 Cr | ₹340 Cr |
| Operating profit | ₹22 Cr | ₹14 Cr | ₹10 Cr |
| Operating margin | 6.0% | 4.0% | 2.9% |
| Interest | ₹4 Cr | ₹2 Cr | ₹1 Cr |
| Depreciation | ₹3 Cr | ₹3 Cr | ₹3 Cr |
| Net profit | ₹34 Cr | ₹83 Cr | ₹5 Cr |
| Net margin | 9.5% | 23.8% | 1.4% |
| Cash from operations | ₹47 Cr | ₹20 Cr | ₹-4 Cr |
| Free cash flow | ₹42 Cr | ₹17 Cr | ₹-6 Cr |
| ROCE | — | — | 14.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr | ₹26 Cr | ₹28 Cr |
| Reserves | ₹-136 Cr | ₹-131 Cr | ₹-119 Cr | ₹-85 Cr | ₹18 Cr | ₹27 Cr |
| Borrowings | ₹50 Cr | ₹0 Cr | ₹1 Cr | ₹8 Cr | ₹13 Cr | ₹12 Cr |
| Other liabilities | ₹138 Cr | ₹170 Cr | ₹180 Cr | ₹144 Cr | ₹63 Cr | ₹65 Cr |
| Total liabilities | ₹74 Cr | ₹62 Cr | ₹85 Cr | ₹90 Cr | ₹120 Cr | ₹132 Cr |
| Fixed assets | ₹34 Cr | ₹30 Cr | ₹29 Cr | ₹30 Cr | ₹30 Cr | ₹29 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹1 Cr | ₹1 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹6 Cr |
| Other assets | ₹40 Cr | ₹32 Cr | ₹56 Cr | ₹59 Cr | ₹88 Cr | ₹96 Cr |
| Total assets | ₹74 Cr | ₹62 Cr | ₹85 Cr | ₹90 Cr | ₹120 Cr | ₹132 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Sep 2026
Since Sep 2025, the public trimmed −9.75 pp while promoters added +9.74 pp.
- Promoters
- 60.3%
- DIIs
- 0.0%
- Public
- 39.6%
Since Sep 2025
- Public −9.75 pp
- Promoters +9.74 pp
- DIIs −0.01 pp
How it drifted, 12 quarters
Over this window promoters went from 45.7% to 60.3% — +14.6 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 45.7%, DIIs 0.0%, Public 54.3%.Jun '24: Promoters 45.7%, DIIs 0.0%, Public 54.3%.Sep '24: Promoters 45.7%, DIIs 0.0%, Public 54.3%.Dec '24: Promoters 45.7%, DIIs 0.0%, Public 54.3%.Mar '25: Promoters 50.6%, DIIs 0.0%, Public 49.4%.Jun '25: Promoters 50.6%, DIIs 0.0%, Public 49.4%.Sep '25: Promoters 50.6%, DIIs 0.0%, Public 49.4%.Dec '25: Promoters 50.6%, DIIs 0.0%, Public 49.4%.Mar '26: Promoters 55.5%, DIIs 0.0%, Public 44.5%.Jun '26: Promoters 55.5%, DIIs 0.0%, Public 44.5%.Aug '26: Promoters 57.8%, DIIs 0.0%, Public 42.1%.Sep '26: Promoters 60.3%, DIIs 0.0%, Public 39.6%.
Who bought this quarter
since Aug 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Aditya Goyal +3.59 pp 6.53% held
- Krishan Goyal Huf +0.88 pp 7.14% held
- Chandigarh Finance Pvt Ltd +0.45 pp 8.68% held
The same filing shows 8 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Modern Dairies Ltd. above SEBI's 1% disclosure line, and what changed since Aug 2026.
| Holder | Stake | Change |
|---|---|---|
| Krishan Kumar Goyal | 15.03% | −0.95 pp |
| Alka Goyal | 12.62% | −0.80 pp |
| Chandigarh Finance Pvt Ltd | 8.68% | +0.45 pp |
| Krishan Goyal Huf | 7.14% | +0.88 pp |
| Aditya Goyal | 6.53% | +3.59 pp |
| Mala Builders Pvt Ltd | 3.76% | −0.24 pp |
| Shree Ganesh Investments And Industries Private Limited | 2.26% | −0.14 pp |
| Times Finvest Commerce Limited | 2.10% | −0.13 pp |
| Laven Kumar Goyal | 2.07% | −0.13 pp |
| Nabha Commerce Private Limited | 1.65% | −0.11 pp |
| Dheeraj Kumar Lohia | 1.46% | −0.10 pp |
| Amarjit Goyal Huf | 0.47% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Modern Dairies Ltd.
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