However, despite this upside, the target is only about 7% higher than the stock’s IPO price of ₹730, showing the stock’s underperformance since listing.
In its note, DAM Capital described Orkla India as a multi-category South Indian packaged foods company with strong regional brands such as MTR (established in 1924) and Eastern (established in 1983).
The company operates across spices and convenience foods, including ready-to-cook, ready-to-eat products, vermicelli, and beverages.Orkla India is the market leader in packaged spices in Karnataka with a 31.2% share and in Kerala with a 41.8% share, reaching 9 out of 10 households in both states. Through Eastern, it also holds a 22.2% share in India’s branded spice exports market and has remained the country’s largest branded spice exporter for 24 consecutive years.
With a portfolio of over 400 products and a distribution network of 834 distributors across 28 states, the company operates as a capital-efficient and debt-free business, the brokerage added.
Last month, Citi had also initiated coverage on the stock with a ‘Buy’ rating and a price target of ₹750.
Currently, all five analysts tracking the stock maintain a ‘Buy’ rating.
Shares of Orkla India ended Monday’s session 3.56% lower at ₹613, although the stock has gained 12% over the past month.
First Published: Apr 15, 2026 7:47 AM IS
