Agribio Spirits Ltd (539546)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Agribio Spirits' revenue was ₹0.6 Cr (-91.4% year on year, -95.1% on the previous quarter), and net profit ₹1.2 Cr (+23.5% year on year); the operating margin was -22.2%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹0.6 | -91.4% | -95.1% |
| Operating profit | ₹-0.1 | loss widened | loss widened |
| Net profit | ₹1.2 | +23.5% | +34.4% |
| EPS (₹) | 1.11 | +23.3% | +33.7% |
| Operating margin | -22.2% | — | — |
📢 Recent Corporate Announcements
Agribio Spirits Limited announced that shareholders approved Agenda No. 2 for the declaration of a final dividend at its Annual General Meeting held on September 30, 2026. As per exchange details, the dividend is approved at 3% (₹0.30 per equity share) for the financial year ended March 31, 2026. Against the company's FY26 net profit of ₹4.06 crore and TTM EPS of ₹3.73, this represents a modest payout. The meeting was conducted at the company's corporate office in Jaipur.
- Shareholders approved final dividend of 3% (₹0.30 per equity share) for FY26
- AGM held on September 30, 2026 at 11:30 A.M. in Jaipur
- Company reported FY26 Net Profit of ₹4.06 crore and EPS of ₹3.73
- Current market cap stands at ₹342 crore with a stock price of ₹314.2
Agribio Spirits Limited has issued a notice convening a meeting of equity shareholders on October 24, 2026, pursuant to NCLT Jaipur Bench orders dated August 13 and September 3, 2026. The meeting will consider and vote on the scheme of amalgamation of Agribiotech Industries Limited (Transferor Company) into Agribio Spirits Limited (Transferee Company). Remote e-voting is scheduled from October 19 to October 23, 2026. This merger is a major structural event for Agribio Spirits, which currently holds a market cap of Rs 342 Cr and FY26 revenue of Rs 45 Cr.
- Shareholder meeting scheduled for Saturday, October 24, 2026, at 3:00 PM IST via physical and VC/OAVM modes
- Remote e-voting window opens on October 19, 2026 (9:00 AM) and closes on October 23, 2026 (5:00 PM)
- Convened pursuant to Hon'ble NCLT Jaipur Bench orders dated August 13, 2026, and September 3, 2026
- Scheme involves the merger of Agribiotech Industries Limited into listed entity Agribio Spirits Limited
Agribio Spirits Limited has received an order dated August 13, 2026, from the NCLT Jaipur Bench concerning its proposed Scheme of Amalgamation with Agribiotech Industries Limited. The tribunal directed both the transferor and transferee companies to convene meetings of their respective equity shareholders, secured creditors, and unsecured creditors to approve the scheme. Specific dates, times, and modes for these meetings will be notified separately. The company currently has a market cap of Rs 347 Cr and TTM revenue of Rs 45 Cr.
- Hon'ble NCLT Jaipur Bench passed an order on August 13, 2026, advancing the Scheme of Amalgamation.
- Meetings of Equity Shareholders, Secured Creditors, and Unsecured Creditors directed for both Transferor and Transferee entities.
- Involves merger of Agribiotech Industries Limited into Agribio Spirits Limited.
- Detailed schedule including date, time, and venue/mode of meetings to be communicated separately.
Agribio Spirits reported a consolidated net profit of ₹1.21 Cr (₹120.99 Lacs) for Q1 ended June 30, 2026, marking a 23.2% YoY growth from ₹0.98 Cr. Consolidated profitability was heavily supported by a ₹0.92 Cr (₹91.66 Lacs) share of profit from its 29.76% associate company. In contrast, standalone operations saw revenue plunge 91.6% YoY to ₹0.62 Cr from ₹7.36 Cr, driving standalone PAT down 42.7% YoY to ₹0.24 Cr. The company's proposed merger by absorption with Agribiotech Industries Limited remains pending before the NCLT.
- Consolidated PAT increased 23.2% YoY to ₹1.21 Cr (₹120.99 Lacs) vs ₹0.98 Cr in Q1 FY26
- Share of profit from 29.76% associate grew 61.5% YoY to ₹0.92 Cr (₹91.66 Lacs)
- Standalone revenue from operations dropped 91.6% YoY to ₹0.62 Cr (₹61.57 Lacs) vs ₹7.36 Cr
- Consolidated Basic and Diluted EPS stood at ₹1.11 compared to ₹0.90 in the previous year quarter
- Scheme of merger with Agribiotech Industries Limited is pending before NCLT Jaipur following stock exchange observation letter
For Q1 ended June 30, 2026, Agribio Spirits reported a 91.6% YoY decline in standalone revenue from operations to ₹61.57 lakhs compared to ₹736.31 lakhs in Q1 FY26. Standalone net profit declined 42.7% YoY to ₹23.75 lakhs from ₹41.46 lakhs. On a consolidated basis, net profit grew 23.2% YoY to ₹120.99 lakhs (₹1.21 crore), largely driven by a ₹91.66 lakhs share of profit from its associate company and a ₹40.16 lakhs deferred tax credit. The company's proposed merger with Agribiotech Industries Limited remains pending before the NCLT Jaipur.
- Standalone revenue from operations fell 91.6% YoY to ₹61.57 lakhs from ₹736.31 lakhs in Q1 FY26
- Standalone net profit declined 42.7% YoY to ₹23.75 lakhs compared to ₹41.46 lakhs in the prior-year period
- Consolidated net profit stood at ₹120.99 lakhs, supported by ₹91.66 lakhs in associate profit share
- Consolidated EPS came in at ₹1.11 per share versus ₹0.90 per share in Q1 FY26
- Scheme of merger with Agribiotech Industries Limited is currently pending NCLT approval
Agribio Spirits Ltd has scheduled a board meeting for August 14, 2026, to review and approve its unaudited financial results for the quarter ended June 30, 2026. The company, which operates in the breweries and distilleries space (with significant jute-related operations), reported a TTM revenue of ₹45 crore and a net profit of ₹4 crore for FY26. Investors will be monitoring if the company can improve its operating profit margin, which stood at -1.0% on a TTM basis. The trading window for designated persons remains closed until 48 hours after the results are announced.
- Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results
- Covers the financial performance for the quarter ended June 30, 2026
- Trading window closed until 48 hours after the results declaration on August 14, 2026
- Company reported a TTM revenue of ₹45 crore against a market cap of ₹343 crore
- Operating profit margin (OPM) was -1.0% for the trailing twelve months
Financial Performance
Revenue Growth by Segment
The company operates in a single segment (Jute); while specific revenue figures are not disclosed, the industry witnessed a 25-30% decline in raw jute production during FY 2024-25 due to crop shifts and adverse weather.
Geographic Revenue Split
Not disclosed in available documents; however, the company is registered in Rajasthan and the industry is concentrated in West Bengal.
Profitability Margins
Return on Capital Employed (ROCE) declined significantly to 1.78% from 4.16% in the previous year, primarily due to lower profitability during the year.
EBITDA Margin
Not disclosed in available documents, though the company reported lower profitability and a decline in ROCE from 4.16% to 1.78%.
Operational Drivers
Raw Materials
Raw Jute (agro-product) is the primary raw material, with procurement prices influenced by the Government-set Minimum Support Price (MSP).
Import Sources
India (primarily West Bengal, which contributes the majority of cultivation and manufacturing).
Key Suppliers
Jute Corporation of India (JCI) for procurement at MSP.
Raw Material Costs
The Government of India enhanced the MSP of raw jute to INR 5,335 per quintal for FY 2024-25. Procurement is risky when ruling market prices prevail over MSP due to low production (25-30% decline).
Strategic Growth
Growth Strategy
The company is focusing on product diversification (moving from traditional packaging to eco-friendly products like shopping bags and geo-textiles), modernization, and exploring export opportunities to capitalize on the global preference for biodegradable products.
Products & Services
Hessian, sacking, and diversified jute goods (DJG) including shopping bags, mats, carpets, handicrafts, and geo-textiles.
Brand Portfolio
Agribio Spirits Limited (formerly Beekay Niryat Limited).
New Products/Services
Value-added products such as shopping bags, mats, carpets, handicrafts, and geo-textiles are being introduced to diversify the revenue base.
Market Expansion
Targeting export opportunities for jute products due to rising global demand for sustainable alternatives to plastics.
Market Share & Ranking
India is the world's largest producer of raw jute and jute goods; company-specific market share is not disclosed.
External Factors
Industry Trends
The industry is shifting from traditional packaging to eco-friendly, value-added products like geo-textiles and shopping bags, supported by a 2024-25 MSP of INR 5,335 per quintal.
Competitive Landscape
Intense competition from synthetic substitutes and market rivals who engage in aggressive cost-cutting.
Competitive Moat
The company benefits from government-mandated compulsory packaging regulations and the Jute Corporation of India's MSP support, which provide a regulatory moat against synthetic substitutes.
Macro Economic Sensitivity
Highly sensitive to agricultural output (25-30% production decline in FY25) and government policy regarding MSP and compulsory packaging norms.
Consumer Behavior
Increasing global preference for sustainable, biodegradable, and eco-friendly products over plastics.
Geopolitical Risks
Global awareness of sustainability and environmental protection creates opportunities for Indian jute exports as a substitute for synthetic materials.
Regulatory & Governance
Industry Regulations
Minimum Support Price (MSP) of INR 5,335 per quintal and compulsory packaging regulations mandated by the Government of India.
Risk Analysis
Key Uncertainties
Raw material availability due to weather-related crop shifts (25-30% decline) and the risk of procuring raw jute at ruling market prices for commercial operations.
Geographic Concentration Risk
Production is heavily concentrated in West Bengal, making the supply chain vulnerable to regional weather conditions.
Third Party Dependencies
High dependency on the Jute Corporation of India for raw material procurement stability through MSP.
Technology Obsolescence Risk
Risk of jute products being replaced by cheaper synthetic/plastic substitutes if cost-efficiency is not maintained.
