AURIGROW - Auri Grow India

📊 NSE: AURIGROW 🏢 Industrial Products 📅 Last Updated: 11/13/2025 15:25

💰 Financial Performance

Revenue Growth by Segment

Historical revenue growth is not disclosed. However, the new CarbonKrishi initiative is estimated to generate a potential annual revenue share of INR 3–10 Crores for the company, based on a gross carbon value of INR 16–50 Crores (USD 2–6 million).

Geographic Revenue Split

The company is focusing on the Northern region of India for its new CarbonKrishi initiative, targeting approximately 1,00,000 farmers in this agriculturally intensive area.

Profitability Margins

The CarbonKrishi initiative is projected to have high profitability with illustrative profit margins of up to 85%. Historical margins for the traditional conductor business are not disclosed.

Credit Rating & Borrowing

The company has a Long Term rating of CRISIL B+/Stable and a Short Term rating of CRISIL A4, both categorized as 'Issuer Not Cooperating'. Total bank loan facilities rated amount to INR 18.7 Crore.

⚙️ Operational Drivers

Raw Materials

Aluminum is the primary raw material used for manufacturing aluminum conductors. Specific percentage of total cost is not disclosed.

📈 Strategic Growth

Expected Growth Rate

Not disclosed

Growth Strategy

The company is pivoting towards an AgriTech + ESG model through the launch of 'CarbonKrishi'. This strategy involves onboarding 1,00,000 farmers in Northern India to generate 1–3 carbon credits per farmer annually, with the company taking a 20–30% commission share on credits sold at USD 10–20 each in global voluntary markets.

Products & Services

Aluminum conductors (traditional business) and AI-enabled farmer carbon credit platform services (CarbonKrishi).

Brand Portfolio

CarbonKrishi (AI-Enabled Farmer Carbon Credit Platform).

New Products/Services

CarbonKrishi, an AI-enabled platform for carbon credit aggregation and verification, with an illustrative revenue potential of INR 3–10 Crores.

Market Expansion

Targeting the Northern region of India due to high concentrations of small and medium farmers practicing rice and low-input agriculture.

Strategic Alliances

Engagement with accredited third-party verification agencies operating under recognized international carbon standards.

🌍 External Factors

Industry Trends

The industry is shifting towards ESG-linked value chains and AgriTech solutions. The Indian government has allocated INR 1.52 lakh crore for agriculture and allied sectors in the FY25 budget, supporting agricultural development.

Competitive Landscape

The company is transitioning from traditional manufacturing (aluminum conductors) to a specialized AgriTech/ESG niche.

Competitive Moat

The company's moat is built on its AI-assisted MRV framework and its existing ecosystem for farmer engagement, which creates an asset-light, technology-driven revenue model that is difficult for traditional competitors to replicate quickly.

Macro Economic Sensitivity

The company is sensitive to the USD/INR exchange rate as carbon credits are priced in USD (USD 10–20 per credit) while operations are based in India.

Consumer Behavior

Increasing corporate and institutional demand for transparent and traceable carbon credit supplies to meet sustainability commitments.

Geopolitical Risks

The business is subject to global voluntary carbon market demand and international carbon standards which can be influenced by international climate policies.

⚖️ Regulatory & Governance

Industry Regulations

Operations must comply with international carbon standards for credit verification and Indian agricultural policies.

Environmental Compliance

The CarbonKrishi initiative is designed to comply with international carbon standards and SEBI ESG disclosure requirements.

⚠️ Risk Analysis

Key Uncertainties

The 'Issuer Not Cooperating' status with CRISIL Ratings indicates a lack of financial transparency, which significantly increases credit risk. The CarbonKrishi initiative is exploratory and lacks binding agreements or assured revenues.