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Orkla India Builds Scale Around MTR and Eastern [EasyDNNnews:PaidContentStart]

Orkla India Limited has positioned itself as a focused player in the packaged foods sector, with a notable presence in spices and convenience foods. Supported by its promoter, Orkla ASA of Norway, the company derives strength from two established brands: MTR and Eastern. MTR, established in 1924, is well-recognised for South Indian breakfast mixes, spices, ready-to-cook, and ready-to-eat products. Eastern, founded in 1983, has built its reputation in non-vegetarian masalas and a growing international spices busines. 

Geographically, the company’s revenue remains concentrated in South India, which accounted for approximately 70 per cent of total revenue in FY26. International markets contributed 21 per cent, while the rest of India made up the remaining 9 per cent. Within the product mix, spices formed the dominant segment at nearly 65 per cent of revenue, with convenience foods contributing around 35 per cent. Orkla India reaches consumers through an extensive distribution network of 6,79,043 touchpoints as of March 2026, backed by eight in-house manufacturing facilities and 22 outsourced units. 

On the financial front, the company reported steady performance in FY26. Revenue from operations grew 4.8 per cent to ₹2,509 crore from ₹2,395 crore in FY25. Adjusted EBITDA increased 7 per cent to ₹424 crore, with the EBITDA margin expanding to 16.9 per cent. Reported profit after Tax (PAT) rose to ₹286 crore from ₹256 crore in the previous year. The improvement was driven by volume growth, operational efficiencies, and better management of working capital. 

Management remains focused on increasing household penetration, expanding the product portfolio, strengthening international operations, improving margins, and enhancing capital efficiency. Key aspects to watch in the near term include the impact of distribution restructuring in Kerala, freight cost pressures in West Asia, tariff-related challenges in the US market, and the conclusion of benefits under the PLI scheme. 

Overall, Orkla India operates as a branded packaged foods company with deep-rooted regional franchises, a track record of improving profitability, and an expanding international footprint. 

DiGiSPICE Technologies Strengthens Its Fintech Play 

DiGiSPICE Technologies is evolving its business model towards a stronger presence in digital financial services, notably through the proposed merger with Spice Money. The combination is expected to enhance the company’s fintech capabilities and extend its reach into India’s semi-urban and rural markets. Spice Money brings a substantial network of nearly 1.7 million agents that currently serve over 170 million customers, providing a platform for assisted digital financial services. 

The company has established leadership in Aadhaar Enabled Payment System (AEPS) transactions, where agents facilitate basic Banking services such as cash withdrawals and balance enquiries for customers. The introduction of UPI cash withdrawal services has further broadened its transaction offerings. The business is also gaining traction in lending products, Bharat Bill Payment System (BBPS) collections, and through expanded partnerships with banks. 

Financial performance in FY26 reflected improving operational metrics. Revenue grew 3.6% year-on-year, while EBITDA rose nearly seven-fold. Profit after tax from continuing operations stood at ₹254 million, marking a significant step-up in profitability. This performance indicates a shift from a phase of network and scale building towards one that benefits from operating leverage. 

The broader opportunity for DiGiSPICE lies in India’s large underpenetrated market for assisted digital financial services. A substantial population in smaller towns and rural areas continues to rely on agent-supported channels for banking, payments, credit, and utility bill payments. The company’s agent network, expanding product range, and banking relationships position it to address this demand. Overall, DiGiSPICE Technologies is progressing as a focused fintech platform with strengthening financials, an extensive distribution network, and a growing role in India’s assisted digital finance ecosystem.

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