Modi Naturals, maker of the Oleev edible-oil brand, is expanding beyond premium cooking oils into ready-to-cook foods, snacks, beverages and kitchen essentials, aiming to build a ₹500 crore consumer business over the next two to three years.
The company plans to leverage its retail distribution network of over 50,000 outlets, supported by more than 450 distributors, along with its growing quick-commerce presence to drive the next phase of growth.
“We want to add about Rs 150 crore from food in the medium term,” said Akshay Modi, Managing Director, highlighting packaged foods as a key growth engine alongside the company’s core edible-oil portfolio.
Modi Naturals is at an advanced stage of launching ready-to-eat pasta variants and has recently introduced hing (asafoetida) under its Oleev Kitchen range. The portfolio also includes conventional and multigrain pasta, peanut butter and other pantry staples. Through its Pipo brand, the company sells instant popcorn with flavour sachets and roasted flavoured peanuts, while its online catalogue includes soups and instant beverages.
The expansion is aimed at tapping rising demand for convenience foods among urban consumers. Management said categories such as pasta, popcorn and instant beverages are gaining traction, particularly on quick-commerce platforms.
For the April-June 2026 quarter, branded revenue declined 4.4 per cent to ₹42.46 crore, compared with ₹44.43 crore a year earlier. However, EBITDA improved to ₹3.93 crore from ₹3.89 crore, lifting operating margins to around 9.3 per cent from 8.8 per cent.
Last year in FY26, the company spent about ₹12 crore on advertising, with a significant share directed towards quick-commerce platforms. Management sees general trade as an under-penetrated opportunity and expects its established distribution network to help scale newer food categories without requiring substantial additional investments.
The consumer-business expansion is being pursued alongside the company’s grain-based ethanol operations, which continue to provide scale and cash generation.
Published on November 2, 2026
