Modi Naturals Limited has announced its audited financial results for the quarter and year ended March 31, 2026. The company reported a consolidated net profit of ₹5028.35 lakh for FY26, marking a significant increase from ₹3102.57 lakh in the previous year. Revenue from operations for the year stood at ₹71918.32 lakh, compared to ₹66291.28 lakh in FY25. The board also approved the resignation of M/s Doogar & Associates as statutory auditors, appointed M/s B. CHHAWCHARIA & CO. to fill the casual vacancy, and proposed shifting the company's registered office.

Financial Performance

The table below summarises the key consolidated financial metrics for the year ended March 31, 2026:

The standalone net profit for FY26 was ₹1001.41 lakh, with revenue from operations at ₹38183.15 lakh and basic EPS of ₹7.68.

Q4 Performance Highlights

Modi Naturals delivered a strong quarter, with key profitability metrics showing marked improvement on a year-on-year basis. The following table captures the Q4 consolidated performance highlights:

The consolidated EBITDA margin for Q4 FY26 improved to 10% from 8.48% in Q4 FY25, reflecting enhanced operational efficiency. An exceptional item of ₹485.57 lakh, representing an insurance claim received by the subsidiary on account of loss of profit due to business interruption from a machinery breakdown in FY 2023-24, was recognised during the year.

Segment Performance

The company operates across three consolidated segments: Branded, Bulk, and Ethanol. The following table presents the segment-wise revenue and EBITDA for the year ended March 31, 2026:

The Ethanol segment contributed the maximum revenue of ₹33735.17 lakh for the year, followed by Bulk at ₹19828.97 lakh and Branded at ₹18354.19 lakh. The standalone entity operates across two segments — Branded and Bulk — with combined revenue from operations of ₹38183.16 lakh for FY26.

Balance Sheet Highlights

The consolidated balance sheet as at March 31, 2026 reflects significant asset growth, primarily driven by capital investment in the Ethanol segment. Key balance sheet metrics are presented below:

Net cash from operating activities for the year stood at ₹6105.80 lakh, compared to ₹4879.42 lakh in the previous year, while net cash used in investing activities was ₹7194.30 lakh, reflecting the significant capital expenditure of ₹8009.47 lakh on property, plant and equipment.

Auditor Changes and Registered Office Shift

The board accepted the resignation of M/s Doogar & Associates (FRN: 000561N), Chartered Accountants, effective May 13, 2026, citing the firm's increased commitments to new assignments. M/s Doogar & Associates had been appointed as statutory auditors pursuant to a shareholders' resolution dated September 30, 2023, for a term of five consecutive years. Consequently, M/s B. CHHAWCHARIA & CO. (FRN: 305123E), Chartered Accountants, New Delhi — which also serves as statutory auditor of Modi Biotech Private Limited, the company's material subsidiary — was appointed to fill the casual vacancy with effect from May 13, 2026, subject to shareholder approval. The board also approved a proposal to shift the registered office of the company from 405, Deepali Building, 92, Nehru Place, New Delhi-110019 to its corporate office at D-54, 2nd Floor, Okhla Industrial Area, Phase I, New Delhi-110020.

Modi Naturals Limited announced a change in its statutory auditors on May 13, 2026, pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board of Directors, at its meeting held on the same date, noted and accepted the resignation of M/s Doogar & Associates (FRN: 000561N), Chartered Accountants, New Delhi, and approved the appointment of a successor auditor to fill the resulting casual vacancy. The disclosure was made in accordance with Regulation 30 read with Schedule III of the SEBI Listing Regulations, 2015, and SEBI Master Circular No. Ho/49/14/14(7)2025-CFD-POD2/I/3762/2026, last updated on January 30, 2026.

Resignation of M/s Doogar & Associates

M/s Doogar & Associates had been appointed as the Statutory Auditors of Modi Naturals Limited pursuant to a shareholders' resolution dated September 30, 2023, for a term of 5 (five) consecutive years from the conclusion of the 49th Annual General Meeting till the conclusion of the 54th Annual General Meeting of the Company. The firm tendered its resignation effective May 13, 2026, citing increased demands from several new assignments that required substantial time and resources, which made it unable to continue dedicating the necessary attention and diligence to fulfil its responsibilities as statutory auditor.

Prior to its resignation, M/s Doogar & Associates completed the audit of the Company's Standalone and Consolidated financial statements and financial results for the year ended March 31, 2026, with audit reports dated May 13, 2026. The Audit Committee and Board members placed on record their appreciation for the firm's contribution to the Company's audit processes and standards. Key details of the resignation are summarised below:

Appointment of M/s B. CHHAWCHARIA & CO.

Pursuant to Section 139 and other applicable provisions of the Companies Act, 2013, the Board of Directors, based on the recommendation of the Audit Committee and subject to approval of shareholders at the ensuing General Meeting, approved the appointment of M/s B. CHHAWCHARIA & CO. (FRN: 305123E), Chartered Accountants, as the Statutory Auditors of the Company with effect from May 13, 2026, to fill the casual vacancy caused by the resignation of M/s Doogar & Associates. The appointment is also noted to align with the fact that M/s B. CHHAWCHARIA & CO. is acting as the Statutory Auditor of Modi Biotech Private Limited, a material subsidiary of the Company, which is expected to ensure better alignment, consistency in audit processes, and operational synergies across the Group.

Key details of the new appointment are as follows:

Brief Profile of M/s B. CHHAWCHARIA & CO.

M/s B. Chhawchharia & Co. (BCCO) is a firm of practising Chartered Accountants providing services to domestic and international clients. The firm was established in the year 1966 by Late Basudeo Chhawchharia, who qualified as a Chartered Accountant from the Institute of Chartered Accountants of England and Wales in 1949 and was previously associated with M/s K N Gutgutia & Co. and M/s Gutgutia & Co. Since its establishment, the firm has expanded by adding partners, people, and new offices.

Regulatory Compliance

M/s B. CHHAWCHARIA & CO. certified its eligibility for appointment, confirming that:

• It is not disqualified for appointment under the Companies Act, 2013, the Chartered Accountants Act, 1949, and applicable rules or regulations
• The proposed appointment is as per the term provided under the Companies Act, 2013
• The proposed appointment is within the limits laid down under the Companies Act, 2013
• There are no proceedings pending against the firm or any partner with respect to professional matters of conduct

The disclosure was signed by Rajan Kumar Singh, Company Secretary & Compliance Officer of Modi Naturals Limited, on May 13, 2026.