RAJPUTANA - Rajputana Bio.

📊 NSE: RAJPUTANA 🏢 Miscellaneous 📅 Last Updated: 12/14/2025 11:32

💰 Financial Performance

Revenue Growth by Segment

Consolidated revenue grew 25.91% YoY to INR 6,731.31 Lakhs, driven by the subsidiary Nirvaanraj. Standalone revenue (Biodiesel) declined 12.54% YoY to INR 4,702.62 Lakhs due to OMC tender cancellations.

Geographic Revenue Split

Primarily domestic (India) operations centered in Rajasthan; however, the company is establishing an export unit to target international markets by the end of next year.

Profitability Margins

Standalone Net Profit Margin was 8.14% (INR 382.63 Lakhs PAT on INR 4,702.62 Lakhs revenue). Consolidated Profit Before Tax margin was 11.18% (INR 752.81 Lakhs PBT on INR 6,731.31 Lakhs revenue).

EBITDA Margin

Standalone Operating Profit before working capital changes was INR 639.53 Lakhs, representing a 13.60% margin, down from 14.28% (INR 768.11 Lakhs) in the previous year.

Capital Expenditure

Historical capex for FY25 was INR 77.90 Lakhs for fixed asset purchases. Planned capex includes utilizing IPO proceeds for technical upgradation and capacity enhancement of 3-4x current levels.

Credit Rating & Borrowing

Total standalone debt is INR 1,381.91 Lakhs (INR 533.68 Lakhs long-term and INR 848.23 Lakhs short-term). Finance costs rose 52.38% YoY to INR 168.91 Lakhs, implying an effective interest rate of approximately 12.2%.

⚙️ Operational Drivers

Raw Materials

Multi-feedstock (non-edible oils and fats) used for biodiesel production; specific percentage of total cost per feedstock type is not disclosed.

Capacity Expansion

Current installed capacity is 80 KL Bio Diesel per day. The company has already expanded capacities 3-4 times and targets 100% utilization of this enhanced capacity next year.

Raw Material Costs

Not explicitly disclosed as a standalone figure, but raw material availability is cited as a critical factor for operational continuity.

Manufacturing Efficiency

Targeting 100% capacity utilization of enhanced units next year; investing in IT infrastructure for data-driven decision-making and operational excellence.

📈 Strategic Growth

Expected Growth Rate

25.91%

Growth Strategy

Achieving growth through 3-4x capacity expansion, diversification into Compressed Bio Gas (CBG) and pellets, and entering the B2B export market to reduce reliance on domestic B2G (OMC) tenders.

Products & Services

Biodiesel, Compressed Bio Gas (CBG), and Pellets.

Brand Portfolio

Rajputana Biodiesel.

New Products/Services

Launching CBG and pellets by the end of next year; expected to contribute significantly to consolidated revenue through new B2B channels.

Market Expansion

Expanding from domestic B2G (Government) to domestic B2B and international export markets to create long-term value and portfolio diversification.

Strategic Alliances

Acquired Nirvaanraj (subsidiary) one year ago, which contributed to a 25.91% increase in consolidated revenue.

🌍 External Factors

Industry Trends

The industry is shifting toward renewable energy and higher biofuel blending mandates; Rajputana is positioning itself by expanding capacity 3-4x and diversifying into CBG.

Competitive Landscape

Operates in the B2G sector (competing for OMC tenders) and expanding into the competitive B2B industrial fuel market.

Competitive Moat

Moat is based on multi-feedstock capability (80 KLPD), allowing the company to switch raw materials based on cost and availability, which is sustainable given the volatility of non-edible oil prices.