MTR owner Orkla India Q1 revenue rises 10.4% to ₹659 crore; digital commerce, Gulf markets fuel growth

Orkla India, which owns food brands MTR, Eastern and Rasoi Magic, returned to double-digit revenue growth after eight quarters, driven by strong performance across product categories, sales channels and international markets.

The food company posted consolidated revenue from operations of ₹659 crore for the quarter ended June 30, 2026, marking a 10.4% year-on-year (YoY) increase from ₹597 crore in the corresponding quarter last year. Revenue from product sales rose 11.5%, supported by a 1.7% increase in volumes, the MTR owner said in a release on Tuesday.

Profit after tax (before exceptional items) increased 9.7% to ₹87 crore in Q1 FY27, compared with ₹79 crore in the year-ago period.

During the quarter under review, earnings before interest, tax, depreciation and amortisation (EBITDA) rose 3% YoY to ₹115 crore, while the margin stood at 17.5%, compared with 18.7% in the year-ago period. Excluding the impact of lower production linked incentive (PLI) benefits, EBITDA growth stood at 7.2%.

According to the company, the domestic business grew 11.8%, while international operations expanded 10.1%, led by an 18.1% increase in revenue from the Gulf Cooperation Council (GCC) region.

Among product categories, the spices segment grew 11.3% to ₹436 crore, while revenue from convenience foods rose 11.9% to ₹220 crore.

Modern trade sales increased 18.6%, while the digital commerce channel posted robust growth of 38.1%, contributing 8.9% of domestic revenue, compared with 7.2% a year earlier. The company launched 23 new products during the quarter.

Sanjay Sharma, Managing Director and CEO of Orkla India, said the company had started FY27 on a strong note, supported by broad-based growth.

"FY27 has begun on a strong note, with 11.5% revenue growth, driven by broad-based momentum across categories, channels and geographies. The performance underscores the strength of our portfolio, the enduring trust in our brands, and our ability to execute consistently in a dynamic market environment," he said.

Sharma said the company is focused on building multiple growth engines, including strengthening its leadership in core markets, expanding its convenience foods portfolio nationally, and enhancing capabilities in digital commerce and Kerala distribution.

The company said it continued to expand its convenience foods business by strengthening its breakfast portfolio, extending MTR Minute Fresh Wet Batter to new markets, and launching protein-based breakfast offerings targeted at younger consumers.

The company is also deepening its digital strategy under Project Bolt, which has helped accelerate online sales growth. In spices, it launched regional offerings such as North Karnataka Podis and Andhra Podis, while expanding its premium portfolio through products including MTR Prakriti Hing-e-Kandahar and Eastern Royal Kashmiri Chilli Powder.

On the international front, the company is preparing for expansion into the UK and European markets through a reformulated non-dairy MTR Minute Meals paneer range.

For FY26, Orkla India reported revenue of ₹2,509 crore, EBITDA of ₹424 crore, and profit after tax (before exceptional items) of ₹298 crore, aided by continued growth across its food portfolio.

Ahead of the Q1 results, shares of Orkla India ended 0.53% higher at ₹575.80 on the BSE, with a market capitalisation of ₹7,887.84 crore.