India Equity Fund-backed multibagger micro-cap stock with 3,150 per cent returns: Company receives new order worth Rs 230 crore from OMCs!

The stock gave multibagger returns of 410 per cent in 3 years and a whopping 3,150 per cent in a decade.

Modi Naturals Ltd (MNL), through its wholly-owned subsidiary, Modi Biotech Private Limited (MBPL), has received an order for 3.72 crore litres of ethanol worth Rs 230 crore from various OMCs (Oil Manufacturing Companies). This order will be fulfilled as per the ESY (Ethanol Sugar Year- follows the November to October period) in four phases. Along with ethanol, byproducts generated will be sold separately generating additional revenues.

Modi Naturals, a prominent Indian consumer goods company, excels in the wellness and food sectors. They've built unique, premium brands in competitive edible oils and healthy foods. In 2022-23, they achieved a turnover of INR 418 crores through brands like Oleev, Oleev Kitchen, and PIPO Foods. Their dedication to quality, innovation, and differentiation has helped them stand out, with Oleev becoming India's No. 1 olive oil brand.

Over the past decade, Modi Naturals has established a pan-India distribution network across all FMCG channels, including the emerging Q-commerce, ensuring online and offline reach. They proudly manufacture and market world-class food products in India. Modi Naturals is well-positioned for future growth, leveraging its strong brands, diversified verticals, and commitment to innovation.

On Friday, shares of Modi Naturals Ltd plunged 0.22 per cent to Rs 270 per share with an intraday high of Rs 278 and an intraday low of Rs 265. The shares of the company saw a spurt in volume by more than 1.07 times on BSE. The stock’s 52-week high is Rs 341 and its 52-week low is Rs 185.10.

The company has a market cap of Rs 342 crore. As of September 2023, India Equity Fund owns a 1.67 per cent stake in the company. The stock gave multibagger returns of 410 per cent in 3 years and a whopping 3,150 per cent in a decade. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.