Orkla India Limited IPO

Apply 0
Avoid 0

Don't Miss It! Mark Your Calender Now:


Orkla India Limited is a leading multi-category Indian food company with a strong heritage in authentic South Indian cuisine. With decades of operations, the company offers a diverse portfolio covering every meal occasion — from breakfast and snacks to full meals, desserts, and beverages.
According to the Technopak Report, in FY2024, Orkla India ranked among the top four players by revenue in the Indian spices and convenience foods segment. Its flagship brands, MTR and Eastern, are synonymous with quality, authenticity, and tradition.

Product Portfolio

The company operates primarily in two categories — Spices and Convenience Foods:

1. Spices: Includes blended variants like Sambar Masala, Chicken Masala, Rasam Masala, and Puliogare Masala, and pure spices like Chilli, Turmeric, Coriander, and Cumin.

2. Convenience Foods: Features ready-to-cook and ready-to-eat offerings such as Rava Idli Mix, 3-Minute Poha, Dosa Mix, and Gulab Jamun Mix.

As of June 30, 2025, the company had a portfolio of ~400 products, selling about 2.3 million units daily.

Brands and Heritage

MTR

Founded in 1924, MTR has become a household name across India, known for its vegetarian food heritage. The brand came under Orkla’s ownership in 2007 through an internal reorganisation. Its range includes spices, RTC and RTE foods, and vermicelli — all crafted around the ethos of authenticity and purity.

Eastern

Established in 1983, Eastern Condiments has been at the forefront of Kerala’s spice tradition. The company expanded its range to include both spices and convenience foods. Orkla acquired Eastern Condiments in March 2021, strengthening its South Indian dominance.

International Presence

Exports are a key growth pillar, contributing ₹4,861.7 million (20.6%) of FY2025 product revenue. Orkla India exports to 45 countries, primarily in the GCC, U.S., and Canada, catering to the Indian diaspora’s demand for authentic South Indian flavours.
The company holds a 22.2% market share in India’s branded spice exports segment

Distribution Network

Orkla India operates one of the most extensive FMCG distribution systems in South India:

i) 834 distributors and 1,888 sub-distributors across 28 states and 6 UTs
ii) Presence in 42 modern retail chains and 6 e-commerce / quick-commerce platforms
iii) Distribution reach in 67.5% of Karnataka and 70.4% of Kerala retail outlets (industry average: 30–40%)
iv) E-commerce and quick-commerce sales grew 100%+ between FY2023 and FY2025

Objects of the Orkla India Limited IPO:

Company will not receive any proceeds from the Offer. The net proceeds, after deducting Offer-related expenses (including taxes, commissions, and fees), will be received by the Selling Shareholders.

Orkla India Limited IPO Details:

Open Date: Oct 29 2025
Close Date: Oct 31 2025
Total Shares: 2,28,43,004
Face Value: ₹ 1 Per Equity Share
Issue Type: Book Building
Issue Size: 1,667.54 Cr.
Lot Size: 20 Shares
Issue Price: ₹ 695-730 Per Equity Share
Listing At: NSE,BSE
Listing Date: Nov 06 2025

Promoters And Management:

1. Atle Vidar Nagel Johansen serves as Chairman and Non-Executive Director since 2015. A financial analyst graduate from the Norwegian School of Economics, he has been with the Orkla Group since 1993, holding key executive roles across entities such as Orkla Foods, Orkla ASA, and Orkla Care. With over 31 years of experience in finance, marketing, and FMCG, he previously worked with Tandberg Data ASA, Jøtun Funds Ltd, and Carl Klerulf & Co Ltd. 2. Sanjay Sharma is the Managing Director and CEO, overseeing the company’s strategic direction and operations. He holds a B.Sc. from the University of Bombay and an MBA from the University of Poona, with 34 years of experience in marketing and FMCG. Before joining in 2009, he worked with IFFCO Group, Dabur India, Colgate-Palmolive, Hindustan Ciba-Geigy, and Voltas. 3. Maria Syse-Nybraaten is a Non-Executive Director. She holds B.Sc. and M.Sc. degrees in Economics and Business Administration from the Norwegian School of Economics, with over 15 years of experience in investments and FMCG. She was previously associated with Ferd AS and SEB AB (publ) Oslofilialen.

Financials of Orkla India Limited IPO:

Particulars 3M FY 2025-26 3M FY 2024-25 FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 597 563.50 2,394.70 2,356 2,172.40
EBITDA (Cr) 111.7 102.3 396.4 343.6 312.4
EBITDA Margins 18.70% 18.20% 16.60% 14.60% 14.40%
PAT (Cr) 78.9 71.8 255.6 226.3 339.1
PAT Margins 13.20% 12.80% 10.70% 9.60% 15.60%
ROCE 8.90% 6.10% 32.70% 20.70% 32.10%
Debt to Equity Ratio(In Times) - - - - 0.01
Operating Cash Flows (Cr) -55.7 47 391.6 296.3 190.4

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Orkla India Limited 2,394.70 16.60% 10.70% 32.70% - 10,000.21 39.12
Tata Consumer Products Limited 17618 14% 7.31% 9.16% 0.12 113,728 86.5
Note : Forward P/E is 31.68 according to FY 2026 PAT

Registrar of Orkla India Limited IPO:

  1. Kfin Technology Private Limited

Discussion on Orkla India Limited IPO:

1 Comment

Leave a Reply