Orkla India Ltd

AGM Details

• AGM held on Wednesday, 19 August 2026, via Video Conference / OAVM.
• Record/cut-off for eligibility: 12 August 2026.
• Shareholders on record: 153,092.
• Total resolutions passed: 6.

Key resolutions & voting outcomes

• Resolution 1 (Ordinary): Adopt Audited standalone and consolidated financial statements for FY 2025-26. Passed.
• Resolution 2 (Ordinary): Re-appointment of director retiring by rotation. Passed.
• Resolution 3 (Special): Ratify Employee Stock Option Plan 2025. Passed.
• Resolution 4 (Special): Ratify extension of Employee Stock Option Plan 2025 to subsidiaries and holding company. Passed.
• Resolution 5 (Special): Ratify Management Stock Option Plan 2025. Passed.
• Resolution 6 (Special): Ratify extension of Management Stock Option Plan 2025 to subsidiaries and holding company. Passed.

AGM Details

• Date: Aug 19, 2026; time 3:00–5:39 p.m. IST; VC/OAVM; e-Voting cut-off Aug 12, 2026.

Resolutions

• Adoption of standalone and consolidated financial statements for FY ended 2026.
• Director re-appointment by rotation: Skiaker Maelen (DIN) eligible.
• Ratification of Employee Stock Option Plan 2025.
• Ratification of extending ESOP 2025 benefits to subsidiary and holding company employees.
• Ratification of Management Stock Option Plan 2025.
• Ratification of extending Management Stock Option Plan 2025 benefits to subsidiaries and holding company.

Voting Status

• Voting results pending; Scrutinizer report to be submitted; results to be posted online and to exchanges.

Dividend

• Dividend details were not disclosed in the AGM proceedings.

Directors

• Director by rotation: Skiaker Maelen eligible for re-appointment.

Auditors

• No auditor appointment or change disclosed.

Material Related Party Transactions

• No material related party transactions disclosed.

Other Approvals

• Approval/ratification of ESOPs and extension of benefits to subsidiaries/holding company.

Product launch

• MTR Foods launches Groundnut Chutney Podi in North Karnataka.
• New variants: Nigerseed Chutney Podi, Flax Seed Chutney Podi, and Masala Khara.
• Pricing set at ₹49-₹65 across four SKUs.
• Available through GT, MT, Namma MTR stores and e-commerce.
• Strengthens regional engagement via hyperlocal marketing and content.
• Part of ongoing North Karnataka regional portfolio expansion.

Financial Performance

• Revenue from operations rose 10.4% YoY to INR659 crores.
• Revenue from product sales grew 11.5%.
• EBITDA stood at INR115 crores; margin 17.5%.
• PAT before exceptional items rose to INR87 crores.
• EBITDA margin stood at 17.5%.
• Underlying EBITDA grew 7.2% excluding base-period PLI.
• Digital commerce grew 38.1% YoY; share rose to 8.9%.
• GCC international growth led at 18.1% YoY.
• Kerala restructuring: Feb 2026 launch, by Jun 2026; 14% productivity, 6% coverage gain.
• Project Bolt strengthens digital commerce; investments in people, tech, analytics.
• IPO-related expenses not material; small transaction bonus in June 2025.
• PLI eligibility: early days; accrual if eligible.

Geography & Segments

• Domestic revenue grew 11.8% YoY; ex-Kerala revenue up 12.8%.
• Domestic volume ex-Kerala grew 6.3%.
• International revenue grew 10.1%; GCC up 18.1% YoY.

Digital & Online

• Digital commerce margins are healthy due to product mix.
• Breakfast portfolio expanded; six Gen Z innovations launched.

Projects & Restructuring

• Kerala restructuring launched Feb 2026; completed Jun 2026.
• Project Bolt investments in people, technology, analytics to boost digital capability.
• International reformulation: paneer ready meals moved to non-dairy range in UK/Europe.

Q&A Highlights

• Price hikes: 6.5% in Q4; 11.4% in Q1.
• Pure spices priced ~10% above mandi; masalas 15–25% premium.
• Ex-Kerala domestic revenue grew 12.8%, volume 6.3%.
• No formal forward-looking guidance; aim for double-digit growth.
• Market-share moves: Karnataka +30–50 bps; Kerala −30 bps.
• US market volumes turned positive; international growth 10.1%.

Outlook & Guidance

• Management does not publish forward-looking guidance; aims for double-digit growth.
• Continue to invest behind brands and growth initiatives; maintain cost discipline.
• Pricing strategy remains market-linked; monitor mandi movements.

Overview

• Standalone BRSR for FY2025-26.
• FMCG manufacturer of packaged foods in India and export markets.
• 8 plants and 7 offices in India; serves 45 countries.
• Exports contributed 21% of total turnover.
• Reporting boundary is standalone.

Key ESG Risks & Opportunities

• Climate change risks to operations; mitigated by renewable energy and low-carbon tech.
• Responsible sourcing with RSPO palm oil; supplier audits; price volatility considerations.
• Nutrition and health focus strengthens brand trust and consumer health outcomes.
• Resource use and circular economy: shift to recyclable packaging; EPR compliance.
• Safe products priority; OFSS compliance reduces recalls and regulatory risk.
• Occupational health and safety emphasis; training and safety culture; LTIFR tracked.
• Governance strengthens via ABAC and whistleblower policies.

Governance & Policy Highlights

• CSR & ESG Committee oversees sustainability; board provides BR governance.
• ABAC policy and Whistle Blower policy launched; ABAC training conducted.
• OFSS and ISO 22000 certifications; Great Place to Work certified Dec 2025.
• No independent BRSR assurance; internal governance applied.
• Regulatory penalties disclosed; RBI and GST matters; several appeals pending.
• BR risks and progress reviewed by Board/management via periodic updates.

Social Responsibility & Workforce

• Total employees 922; 78% male, 22% female.
• Total workers 1285; 53% male, 47% female.
• Board has 3 female directors; KMP includes 1 female.
• 100% compliance training; 97% non-compliance training completion for workers.
• LTIFR: employees 0.4; workers 0.6; five accidents reported.

Environmental Performance

• Total energy 186,191 GJ; 59% from renewables; Karnataka facilities 100% renewable.
• Total water withdrawal 98,857 kl; consumption 60,409 kl.
• Scope 1: 2,538 tCO2e; Scope 2: 5,823 tCO2e; total 8,362 tCO2e.
• 56% of packaging is recyclable; EPR obligations fulfilled.
• Waste: total 2,373.1 t; 1,049.2 t recycled; incineration 406.9 t; other disposal 917.0 t.
• Certifications: BRCGS, ISO 22000; Great Place to Work certification.
• Group Captive with Clean Max supports renewable energy uptake.

Stakeholder Engagement & Complaints

• Stakeholders include investors, regulators, suppliers, employees, customers, and communities.
• Engagement is continuous via website, emails, meetings, and investor communications.
• Customer complaints: 282 filed; 1 pending; 4 whistleblower complaints resolved.
• Community grievances handled through NGO partners; CSR teams oversee resolution.
• Investors use ODR portal and official investor contact for grievances.

Other Notable Metrics

• Inputs from MSMEs: 48.6% of inputs; 100% sourced within India.
• CSR turnover: INR 24,638.9 million; net worth: INR 21,356.9 million.
• Product recalls: zero in FY2025-26.
• Data privacy: DPDP policy under development; cybersecurity controls in place.
• Affiliations with 6 trade associations; major bodies include AIFPA, CII, FICCI.
• 2030 targets: 100% recyclable packaging, water-positive status, and renewable electricity expansion.
• CSR impact: 900,000+ lives touched; 60 million liters rainwater harvesting capacity; 2,200+ farmers trained.

AGM details

• AGM date/time: Aug 19, 2026, 3:00 PM IST, via VC/OAVM.
• E-voting cut-off: Aug 12, 2026; remote voting window: Aug 16–18, 2026.
• Results of e-voting: to be published on/before Aug 21, 2026.

Resolutions

• Adopt Audited Standalone and Consolidated Financial Statements for FY2025-26 (Ordinary).
• Re-appoint Per Haavard Skiaker Maelen as Director; retires by rotation (Ordinary).
• Ratify ESOP 2025; authorize Board to grant up to 27,39,784 ESOPs (Special).
• Extend ESOP 2025 benefits to subsidiaries and holding company (Special).
• Ratify MSOP 2025; authorize Board to grant up to 4,70,000 MSOPs (Special).
• Extend MSOP 2025 benefits to subsidiaries and holding company (Special).

Director changes

• Re-appointment of Per Haavard Skiaker Maelen as Director (no remuneration proposed).

IPO, Listing & Capital Market

• IPO oversubscribed 48x; OFS 2,284,304 shares; final price INR 730; listing on 6 Nov 2025.
• Proceeds to selling shareholders only.
• Company name changed to Orkla India Limited on listing.

Financial Performance

• Standalone revenue INR 24,638.9 million; PAT INR 2,817.6 million.
• Consolidated revenue INR 25,091.4 million; PAT INR 2,856.7 million; EBITDA INR 4,240.9 million; margin 16.9%.
• Consolidated revenue grew 4.8% YoY; PAT up 11.7% YoY.

Capital structure & ownership

• Paid-up equity: INR 137.0 million across 13,69,89,230 shares.
• Promoter holding ~75.00%; Nippon Life Trustee ~6.12%.
• 100% dematerialised; ISIN INE16NZ01023; no debt outstanding.

Governance

• Independent directors added: Rashmi Joshi, Shantanu Khosla, Meena Ganesh, Amit Jain.

Meeting Details

• Board meeting scheduled for August 4, 2026; time and venue not disclosed.

Key Agenda Items

• To consider and approve unaudited standalone and consolidated results for Q1 FY27 (quarter ended June 30, 2026).

Other Notes

• Investors/Analysts Conference Call scheduled on Aug 4, 2026 at 17:30 IST.
• Company to publish results in newspapers per SEBI Listing Regulations.