ORKLAINDIA
Orkla India share price & financials
- Price
- ₹619.1
- Market cap
- ₹7.6k Cr
- Sector
- Fast Moving Consumer Goods
- Calls analysed
- 4
Orkla India Limited Q1 FY27
What went well
- Revenue from operations increased 10.4% YoY to INR 659 crores.
- Product sales revenue grew 11.5%, driven by effective pricing and 1.7% volume growth.
- EBITDA margin remained healthy at 17.5%, with underlying EBITDA growth of 12.7% (excluding PLI and Project Bolt investments).
What to watch
- Raw material inflation, particularly spices (chilli up 78%, coriander up 40%), leading to significant price hikes.
- Kerala distribution restructuring caused a marginal decline of 30 basis points in market share in Kerala.
What Orkla India Limited does
Orkla India Limited (formerly MTR Foods, brands MTR and Eastern) is a multi-category Indian food company operating in two lines: packaged Spices and Convenience Foods (breakfast, meals, sweets). It is deeply rooted in South Indian culinary heritage, selling through an extensive retail network across India with a South India focus, and exports branded spices internationally including to GCC countries. Manufacturing is run through a hybrid model of in-house factories and outsourced production units located near sourcing regions and demand markets. The company is a subsidiary of Orkla ASA, a Norway-listed branded consumer goods investment company.
Segments
- Spices
- Convenience Foods
- Retail touchpoints
- ~679,000 (as of 31 Mar 2026)
- In-house factories
- 8 (as of May 2026)
- Outsourced manufacturing units
- 22 (as of May 2026)
- Market position - Karnataka packaged spices
- #1
- Market position - Kerala packaged spices
- #1
- Export track record
- Largest branded spices exporter from India for 24 years
Guidance record · Q1 FY27
what the last two calls moved 7 tracked 4 delivered 1 missed 2 open- Price Increases delivered said Q4 FY26 Promised: We expect to take another round of price increases in quarter one of FY27. Q1 FY27: Achieved. The company implemented significant pricing actions in response to raw material inflation, with the pricing impact on revenue rising from 6.5% in Q4 to 11.4% in Q1.
- US Market Stock Levels missed said Q3 FY26 Promised: working to cut the stock levels to normalized levels by the first quarter of this year [Q1 FY27]. Q1 FY27: Missed. The topic of US stock normalization was not addressed in the earnings call, and the Q1 FY27 deadline has passed without confirmation of achievement.
- Kerala Distribution Restructuring Completion on track said Q4 FY26 Promised: by last quarter, if not first of January 2027, you will see that the full project will be -- the full restructuring will be completely done. Q1 FY27: On track. Management confirmed the restructuring program is progressing as planned, with the foods program showing improved productivity and coverage. The overall project will take several more quarters to mature.
All 7 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 10.4%, net profit up 11.4% 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 | 620 | 615 | 596 | 597 | 650 +5% | 636 +3% | 626 +5% | 659 +10% |
| EBITDA | 113 | 86 | 95 | 112 | 106 −6% | 103 +20% | 97 +2% | 113 +1% |
| Net profit | 83 | 66 | 35 | 79 | 77 −7% | 57 −14% | 73 +109% | 88 +11% |
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 −6.7% YTD
YTD: ₹633.5 on 1 Jan 2026 → ₹591.25. High ₹650.2 (23 Apr 2026), low ₹537.45 (16 Feb 2026).
How the price took the results
close before → close after
- Q1 FY27
- +1.0%
- 4 Aug
- Q4 FY26
- −0.8%
- 19 May
- Q3 FY26
- −3.4%
- 11 Feb
- Q2 FY26
- −0.4%
- 13 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
| Year ending | FY26 |
|---|---|
| Revenue | ₹2.5k Cr |
| Operating profit | ₹418 Cr |
| Operating margin | 16.7% |
| Interest | ₹8 Cr |
| Depreciation | ₹54 Cr |
| Net profit | ₹286 Cr |
| Net margin | 11.4% |
| Cash from operations | ₹261 Cr |
| Free cash flow | ₹240 Cr |
| ROCE | 15.0% |
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 | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹13 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹1.8k Cr | ₹1.9k Cr | ₹2.2k Cr | ₹2.8k Cr | ₹2.6k Cr | ₹2.7k Cr |
| Borrowings | ₹80 Cr | ₹35 Cr | ₹95 Cr | ₹64 Cr | ₹64 Cr | ₹63 Cr |
| Other liabilities | ₹823 Cr | ₹856 Cr | ₹767 Cr | ₹505 Cr | ₹505 Cr | ₹589 Cr |
| Total liabilities | ₹2.7k Cr | ₹2.8k Cr | ₹3.1k Cr | ₹3.4k Cr | ₹3.2k Cr | ₹3.4k Cr |
| Fixed assets | ₹2.0k Cr | ₹2.0k Cr | ₹2.0k Cr | ₹2.1k Cr | ₹2.0k Cr | ₹2.0k Cr |
| Capital work in progress | ₹4 Cr | ₹3 Cr | ₹74 Cr | ₹4 Cr | ₹6 Cr | ₹4 Cr |
| Investments | ₹52 Cr | ₹201 Cr | ₹255 Cr | ₹325 Cr | ₹352 Cr | ₹573 Cr |
| Other assets | ₹596 Cr | ₹544 Cr | ₹760 Cr | ₹991 Cr | ₹846 Cr | ₹857 Cr |
| Total assets | ₹2.7k Cr | ₹2.8k Cr | ₹3.1k Cr | ₹3.4k Cr | ₹3.2k Cr | ₹3.4k 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 Jun 2026
Since Dec 2025, FIIs trimmed −0.94 pp while DIIs added +0.60 pp. The shareholder count shrank 16% to 1,54,343.
- Promoters
- 75.0%
- FIIs
- 2.3%
- DIIs
- 8.7%
- Public
- 14.0%
Since Dec 2025
- FIIs −0.94 pp
- DIIs +0.60 pp
- Public +0.35 pp
How it drifted, 3 quarters
Ownership split by quarter, oldest first. Dec '25: Promoters 75.0%, FIIs 3.2%, DIIs 8.1%, Public 13.7%.Mar '26: Promoters 75.0%, FIIs 2.4%, DIIs 8.7%, Public 13.8%.Jun '26: Promoters 75.0%, FIIs 2.3%, DIIs 8.7%, Public 14.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Nippon Life India Trustee Ltd-A/C Nippon India Con Mutual fund +0.08 pp 6.20% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Orkla India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Orkla Asia Pacific Pte Ltd | 75.00% | unchanged |
| Nippon Life India Trustee Ltd-A/C Nippon India Con Mutual fund | 6.20% | +0.08 pp |
| Firoz Meeran | 4.16% | unchanged |
| Navas Meeran | 4.16% | unchanged |
| Khell-Food Kft | 0.00% | unchanged |
| Kjarnavörur HF | 0.00% | unchanged |
| Kotipizza Group Oy | 0.00% | unchanged |
| Kotipizza Oyj | 0.00% | unchanged |
| KT-Food ApS | 0.00% | unchanged |
| Laan Heiloo B.V | 0.00% | unchanged |
| LaNordija SIA | 0.00% | unchanged |
| Latfood Agro SIA | 0.00% | 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.
Mutual funds in ORKLAINDIA
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹505 Cr
- 2 schemes
- Biggest holder
- Nippon India Small Cap Fund
- ₹481 Cr · 0.6% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| Nippon India Small Cap Fund Nippon India Mutual Fund | ₹481 Cr | held | Oct '25 |
| Nippon India Consumption Fund Nippon India Mutual Fund | ₹24 Cr | held | Oct '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- -5%
- vs est. average cost
- Held by funds
- ₹505 Cr
- 2 schemes · ≈ 6.9% of the company
- Biggest holder
- Nippon India Small Cap Fund
- ₹481 Cr · 0.6% of that fund
Shares held by these funds +772%
Oct '25 84.88 L shares Jul '26
What the price assumes
- Growth the price implies
- 19.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- Not enough history
- The gap
- —
- between what it did and what it must do
All earnings calls (4)
Read the Q1 FY27 call →Learn to analyse Orkla India Limited
Guides on how to read this kind of business and the numbers that matter.