Nakoda Group of Industries Limited Q2 & H1 FY26 Concall Decoded: 58% growth, EBITDA resurrection, and a Swadeshi energy drink taking on Red Bull
1. Opening Hook
Some companies announce turnarounds quietly. Nakoda walked into its first-ever earnings call and casually said: “Margins are back, debt is down, and yes—we’re launching an energy drink.”
From negative EBITDA last year to nearly 7% this quarter, the tutti-frutti veteran suddenly wants to hang out with Red Bull at pubs and Blinkit dark stores. Ambitious? Definitely. Delusional? Not yet.
Core food processing is finally behaving, exports are humming, costs are under control, and NO CTRL has entered the chat—literally two days before the concall. Management sounded confident, distributors sounded interested, and marketing budgets were… surprisingly disciplined.
Is this a sugar rush or a real FMCG pivot? Stick around. The fruit processor wants to be fizzy now. 😏
2. At a Glance
Q2 revenue up 58% YoY – Core business doing all the heavy lifting (energy drink not counted yet).
H1 revenue up 20% YoY – Slow and steady beats fruit rot.
EBITDA margin ~7% (vs -1.9%) – Expenses finally put on a diet.
Net profit ₹40.8 lakh (H1) – Black ink after a long drought.
Debt down 39% – Balance sheet detox in progress.
3. Management’s Key Commentary
“Entire Q2 revenue came from existing business.” (Translation: The turnaround didn’t need NO CTRL… yet.)
“EBITDA moved from negative to 7%.” (Cost control + volume = miracle, minus spirituality.) 😏
“Energy drink revenue starts from Q3.” (The hype train is still warming up.)
“We are onboarding ex-Coke and Pepsi distributors.” (If you can’t beat them, hire their old salesmen.)
“Exports form 20–25% of annual revenue.” (Tutti-frutti travels better than people.)
“Gross margin on NO CTRL is ~40%.” (Fizz is more profitable than papaya.)
