Rajputana Biodiesel Limited (RAJPUTANA)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Rajputana Biodiesel's revenue was ₹63.0 Cr (+176.5% year on year, +6.1% on the previous half-year), and net profit ₹4.0 Cr (+279.1% year on year); the operating margin was 11.1%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹63.0 | +176.5% | +6.1% |
| Operating profit | ₹7.0 | +147.8% | -15.4% |
| Net profit | ₹4.0 | +279.1% | -34.0% |
| EPS (₹) | 5.52 | +581.5% | -49.2% |
| Operating margin | 11.1% | — | — |
RAJPUTANA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the RAJPUTANA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 85.59%. That is close to its usual level. Turnover was only ₹7 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 81.1% · 97.3% · 75.0% · 77.8% · 100.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Rajputana Biodiesel has received approval from the Rajasthan Renewable Energy Corporation Limited to enhance its Compressed Bio Gas (CBG) project registration capacity from 5 TPD to 18 TPD at Jetpura, Ajmer. This 3.6x capacity hike aligns with the company's stated strategy to diversify beyond its core biodiesel business and reduce dependency on domestic Oil Marketing Company (OMC) tenders. The approval was granted under the Rajasthan Integrated Clean Energy Policy, 2024, on a perpetual basis. Commercialization details, project capex, and commissioning timelines have not yet been disclosed as mandatory regulatory steps remain.
- Registration capacity enhanced from 5 TPD to 18 TPD, representing a 3.6x increase
- Approval granted by Rajasthan Renewable Energy Corporation Limited under Rajasthan Integrated Clean Energy Policy, 2024
- Facility located at Village Jetpura, District Ajmer, Rajasthan
- Approval is granted on a perpetual basis unless explicitly revoked
- Mandatory statutory approvals for facility establishment to follow in due course
Rajputana Biodiesel Limited and its subsidiary, Nirvaanraj Energy Private Limited, have received Letters of Intent (LOIs) from Hindustan Petroleum Corporation Limited (HPCL). The aggregate estimated order value is approximately ₹13.72 Crores (inclusive of GST) for the supply of 1,480 KL of biodiesel (740 KL each). The contract is domestic and slated for execution between June 2026 and August 2026. This win represents roughly 7.2% of the company's TTM revenue of ₹190 Crores.
- Total aggregate order value is approximately ₹13.72 Crores (inclusive of GST)
- Supply volume of 740 KL allocated to Rajputana Biodiesel at Jaipur Terminal-MDPL, Rajasthan (approx. ₹6.86 Crores)
- Supply volume of 740 KL allocated to subsidiary Nirvaanraj Energy at Meerut, Uttar Pradesh (approx. ₹6.86 Crores)
- Execution timeline spans June 2026 to August 2026
Rajputana Biodiesel Limited has issued a communication to shareholders whose email addresses are not registered, providing access links to the Notice of its 10th Annual General Meeting (AGM) and the Annual Report for FY 2025-26. The 10th AGM is scheduled to be held on Saturday, September 26, 2026, at 02:00 PM IST via Video Conferencing / OAVM. Remote e-voting will commence on September 23, 2026 (09:00 AM IST) and end on September 25, 2026 (05:00 PM IST).
- 10th Annual General Meeting scheduled for Saturday, September 26, 2026, at 02:00 PM IST via Video Conference.
- Remote e-voting period runs from September 23, 2026 (09:00 AM IST) to September 25, 2026 (05:00 PM IST).
- Cut-off date for e-voting is specified as September 19, 2025 in the filing schedule.
- Notice and Annual Report for FY 2025-26 dispatched electronically on August 28, 2026 to registered emails.
Rajputana Biodiesel Limited has issued the notice convening its 10th Annual General Meeting (AGM) on Saturday, September 26, 2026, at 2:00 PM IST via video conferencing. The cut-off date for determining shareholder voting eligibility is September 19, 2026, with remote e-voting running from September 23 to September 25, 2026. Ordinary business includes adopting FY26 standalone and consolidated financial statements and re-appointing Mrs. Madhuri Surana as a Non-Executive Director retiring by rotation.
- 10th AGM scheduled for Saturday, September 26, 2026 at 2:00 PM IST via video conferencing
- Cut-off date for remote e-voting eligibility set for September 19, 2026
- Remote e-voting window opens September 23, 2026 (09:00 AM) and closes September 25, 2026 (05:00 PM)
- Re-appointment of Mrs. Madhuri Surana (holding 6,33,735 shares) as Non-Executive Director up for approval
Rajputana Biodiesel Limited has announced the completion of its acquisition of Arvant Bioenergy Private Limited (formerly Arvanta Bioenergy Private Limited). Equity shares were transferred from existing shareholders on August 25, 2026, formally making Arvant Bioenergy a 100% Wholly Owned Subsidiary (WOS). This follows the Board approval previously disclosed on August 22, 2026. Specific acquisition consideration details were referenced to the prior filing and not disclosed in this update.
- Equity shares transferred on August 25, 2026, completing the acquisition.
- Arvant Bioenergy Private Limited is now a 100% Wholly Owned Subsidiary.
- Follows previous Board approval intimation dated August 22, 2026.
- Specific deal consideration referenced to earlier SEBI disclosure dated August 22, 2026.
Rajputana Biodiesel Limited's Board has approved the acquisition of a 100% equity stake in Arvant Bioenergy Private Limited for a cash consideration of ₹10,000 (1,000 shares at ₹10 face value), making it a wholly owned subsidiary. Arvant Bioenergy was incorporated in March 2025, has an authorized capital of ₹10,00,000, and reported nil turnover in FY26. The acquisition is intended to expand Rajputana's presence in biomass processing, waste-to-energy, and alternative biofuel feedstocks, with completion expected within 15 days. The Board also fixed its 10th AGM for September 26, 2026, and re-appointed Mehta & Mehta as Secretarial Auditors for FY27.
- 100% equity acquisition of Arvant Bioenergy for a cash consideration of ₹10,000 (1,000 equity shares).
- Target entity has nil turnover for FY26 and paid-up capital of ₹10,000 against authorized capital of ₹10,00,000.
- Transaction to be completed within an indicative timeline of 15 days.
- 10th Annual General Meeting scheduled for September 26, 2026, via Video Conferencing.
Rajputana Biodiesel has approved the acquisition of a 100% equity stake (1,000 shares at ₹10 each) in Arvant Bioenergy Private Limited for a cash consideration of ₹10,000. Arvant Bioenergy, incorporated in March 2025, currently has nil turnover and operates in biomass processing and waste-to-energy biofuels. The transaction is expected to be completed within 15 days to expand feedstock and biofuel capabilities. Additionally, the Board scheduled the 10th AGM for September 26, 2026, and re-appointed secretarial auditors for FY 2026-27.
- Acquisition of 100% stake (1,000 equity shares) in Arvant Bioenergy for ₹10,000 cash consideration.
- Target entity has nil turnover, ₹10,000 paid-up capital, and ₹10,00,000 authorised capital.
- Target focuses on biofuels from municipal waste, cow dung, and agricultural residue.
- Acquisition formalities scheduled to close within 15 days.
- 10th Annual General Meeting scheduled for September 26, 2026.
Rajputana Biodiesel Limited has approved the acquisition of a 100% stake in Arvant Bioenergy Private Limited for a nominal cash consideration of ₹10,000 (1,000 equity shares at ₹10 each), making it a wholly owned subsidiary. The target entity was incorporated in March 2025 with nil revenue to date, focusing on waste-to-energy and biomass processing. In addition, the Board approved the re-appointment of M/s Mehta & Mehta as Secretarial Auditors for FY 2026-27 and scheduled the 10th AGM for September 26, 2026. Given the nominal deal value compared to Rajputana's TTM revenue of ₹190 Cr, the immediate financial impact is negligible.
- Acquisition of 100% equity (1,000 shares at ₹10 face value) of Arvant Bioenergy for ₹10,000 in cash
- Target entity incorporated on March 20, 2025, reporting Nil turnover in FY 2025-26
- Deal formalities targeted for completion within 15 days
- Re-appointment of M/s Mehta & Mehta as Secretarial Auditors for FY 2026-27
- 10th Annual General Meeting convened for September 26, 2026
Rajputana Biodiesel's Board approved the acquisition of 100% equity in Arvant Bioenergy Private Limited for a nominal cash consideration of ₹10,000 (1,000 shares at ₹10 face value). Arvant Bioenergy is an early-stage company incorporated on March 20, 2025, with nil turnover in FY 2025-26. The acquisition is intended to support the company's diversification and operational capabilities in municipal waste processing, biomass feedstock, and waste-to-energy solutions. Additionally, the Board re-appointed its secretarial auditor and scheduled its 10th AGM for September 26, 2026.
- Board approved 100% acquisition of Arvant Bioenergy for ₹10,000 in cash
- Target entity had Nil turnover in FY 2025-26 and was incorporated on March 20, 2025
- Acquisition formalities are scheduled to be completed within 15 days
- 10th Annual General Meeting scheduled for September 26, 2026
Rajputana Biodiesel Limited approved the acquisition of a 100% equity stake in Arvant Bioenergy Private Limited for a nominal cash consideration of INR 10,000 (1,000 shares at INR 10 per share), making it a wholly owned subsidiary. Arvant Bioenergy, incorporated on March 20, 2025, is focused on biomass processing, biofuels, and waste-to-energy, but currently has Nil turnover. The transaction is expected to close within 15 days to support the company's long-term feedstock and biofuel expansion strategy. Additionally, the Board scheduled the 10th AGM for September 26, 2026, and re-appointed Mehta & Mehta as secretarial auditors for FY 2026-27.
- Acquisition of 100% stake (1,000 equity shares) in Arvant Bioenergy for INR 10,000
- Target entity Arvant Bioenergy reported Nil turnover for FY 2025-26 (incorporated March 20, 2025)
- Transaction formalities to be completed within 15 days via cash consideration
- 10th Annual General Meeting scheduled for September 26, 2026
Rajputana Biodiesel Limited and its subsidiary, Nirvaanraj Energy, have received Letters of Intent (LOIs) from HPCL for the supply of 740 KL of biodiesel. The total estimated order value is Rs 6.86 crore (inclusive of GST), which represents approximately 3.6% of the company's TTM revenue of Rs 190 crore. The execution period is very short, covering supplies from June 2026 to August 2026 at Jaipur and Meerut terminals. While this reinforces the company's relationship with major Oil Marketing Companies (OMCs), the order size is relatively small compared to annual operations.
- Total aggregate order value of approximately Rs 6.86 crore inclusive of GST
- Combined supply volume of 740 KL (370 KL each for the parent company and its subsidiary)
- Execution timeline is immediate, spanning from June 2026 to August 2026
- Orders received from Hindustan Petroleum Corporation Limited (HPCL) for Jaipur and Meerut terminals
- Order follows a tender process initiated by OMCs on June 15, 2026
Rajputana Biodiesel Limited has received a Letter of Intent (LOI) from Bharat Petroleum Corporation Limited (BPCL) for the supply of 1271 KL of biodiesel. The order is valued at approximately Rs 11.78 crore (inclusive of GST) and is scheduled for execution between June 2026 and August 2026. This contract represents approximately 6.2% of the company's TTM revenue of Rs 190 crore. The company also indicated that additional LOIs for remaining bid volumes are expected shortly for both the parent company and its subsidiary, Nirvaanraj Energy Private Limited.
- Order value of approximately Rs 11.78 crore including GST
- Supply volume of 1271 KL of Biodiesel to Jobner (Jaipur), Rajasthan
- Execution timeline is immediate, covering the period from June 2026 to August 2026
- Contract awarded by Bharat Petroleum Corporation Limited (BPCL) under a June 2026 OMC tender
- Additional LOIs for remaining bid volumes expected for the company and its subsidiary Nirvaanraj Energy
Rajputana Biodiesel has secured a Letter of Intent (LOI) from Bharat Petroleum Corporation Limited (BPCL) for the supply of 1271 KL of biodiesel. The order is valued at approximately Rs 11.78 crore, which represents roughly 6.2% of the company's TTM revenue of Rs 190 crore. The contract is short-term, with the execution period spanning from June 2026 to August 2026. The company expects additional LOIs for remaining bid volumes to be issued shortly for itself and its subsidiary, Nirvaanraj Energy.
- Order value of approximately Rs 11.78 crore inclusive of GST
- Supply of 1271 KL of Biodiesel to BPCL at Jobner (Jaipur), Rajasthan
- Execution timeline is immediate, covering the period from June 2026 to August 2026
- Order magnitude represents ~6.2% of the company's TTM revenue of Rs 190 crore
- Additional LOIs from other OMCs (IOCL, HPCL) are expected shortly for remaining bid volumes
Rajputana Biodiesel has secured a Letter of Intent (LOI) from Indian Oil Corporation (IOCL) for the supply of 954 KL of biodiesel. The contract is valued at approximately ₹8.90 crore (inclusive of GST), which represents about 4.7% of the company's TTM revenue of ₹190 crore. The supply is scheduled for a short duration from June 2026 to August 2026. The company also indicated that additional LOIs from other OMCs (HPCL, BPCL) are expected shortly for both the parent and its subsidiary, Nirvaanraj Energy.
- Order value of approximately ₹8.90 crore including GST for biodiesel supply.
- Total volume of 954 KL to be delivered to IOCL at Bharatpur, Rajasthan.
- Execution window is immediate, covering the period from June 2026 to August 2026.
- The win is part of a larger OMC tender (OMC/EOI/BD/JUN26) involving IOCL, HPCL, and BPCL.
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.
Macro Economic Sensitivity
Sensitive to Government regulations, tax regimes, and domestic demand-supply conditions for biofuels.
Consumer Behavior
Increasing industrial shift toward sustainable and green energy sources (Biodiesel/CBG) is driving demand.
Geopolitical Risks
Global demand-supply conditions and raw material availability are cited as external risk factors.
Regulatory & Governance
Industry Regulations
Subject to Government regulations on biofuel production, OMC tender policies, and statutory compliance monitored by the management team.
Taxation Policy Impact
Standalone effective tax rate was 26.39% (INR 137.19 Lakhs tax on INR 519.95 Lakhs PBT).
Legal Contingencies
No specific pending court case values disclosed; auditors reported no cash losses and no resignation of statutory auditors.
Risk Analysis
Key Uncertainties
OMC tender cancellations (12.54% revenue impact) and raw material price volatility are the primary business uncertainties.
Geographic Concentration Risk
100% of current production is based in Rajasthan, India.
Third Party Dependencies
High dependency on OMCs for standalone order inflows and multi-feedstock vendors for raw materials.
Technology Obsolescence Risk
Mitigated by investing IPO capital into technical upgradation and IT infrastructure for operational efficiency.
Credit & Counterparty Risk
Standalone trade receivables stood at INR 1,130.85 Lakhs, representing approximately 24% of standalone revenue.
