The brokerage said the company’s flagship brand MTR holds a leadership position in the spices market in Karnataka and Kerala, while also maintaining a strong presence in Andhra Pradesh and Telangana. The brand’s growth has been supported by hyper-local brand building, deep distribution networks and products aligned with regional tastes.
The positive outlook is based on strong category growth prospects, Orkla India's market leadership in South India and the company’s effective execution of portfolio expansion and channel diversification strategies.
The brokerage also expects margin expansion for the company, supported by a favourable product mix and improving operational efficiencies. However, it highlighted risks including volatility in commodity prices, the company’s concentration in South Indian markets and competition from regional players.
Orkla India is a leading multi-category food company. It is a collection of heritage brands offering a diverse range of products under the well-loved MTR, Rasoi Magic and Eastern brands. Its portfolio spans multiple categories, including blended and pure spices and convenience foods such as ready-to-cook (RTC), ready-to-eat (RTE) meals, vermicelli, and more - delivering quality and authenticity to consumers across meal occasions.
On a consolidated basis, Orkla India reported a net profit after tax (before exceptional items on account of new Labour Codes (net of tax)) of Rs 68.31 crore for the third quarter ended 31 December 2025, marking a 3.74% YoY increase driven by volume-led growth. Net sales rose 3.38% YoY to Rs 636.06 crore in Q3 FY26.