Ramdevbaba Solvent Limited (RBS)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Ramdevbaba Solvent's revenue was ₹438 Cr (-16.9% year on year, +13.6% on the previous half-year), and net profit ₹5.0 Cr (-28.6% year on year); the operating margin was 2.7%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹438 | -16.9% | +13.6% |
| Operating profit | ₹12.0 | +0.0% | -13.2% |
| Net profit | ₹5.0 | -28.6% | -19.8% |
| EPS (₹) | 2.10 | -30.9% | -27.3% |
| Operating margin | 2.7% | — | — |
RBS delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 100.0% of the RBS shares traded on NSE were taken to delivery, against the stock's own 20-session average of 74.32%. That is higher than usual for this stock. Turnover was only ₹1 lakh, so a handful of trades can move this figure. Volume was under a tenth of its average.
Delivery in the last 5 sessions: 55.6% · 54.5% · 100.0% · 100.0% · 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
Ramdevbaba Solvent Limited concluded its 18th Annual General Meeting (AGM) on September 23, 2026. Shareholders approved all agenda items, including the re-appointment of Mrs. Rajnandini Tanmay Bhatya as Non-Executive Women Director, who was liable to retire by rotation. Mrs. Bhatya is a Chartered Accountant and currently serves as Chairman of the Stakeholders Relationship Committee.
- 18th AGM held on September 23, 2026, from 10:30 AM to 11:00 AM IST via video conferencing
- Shareholders approved all business items with the requisite majority
- Re-appointment of Mrs. Rajnandini Tanmay Bhatya (DIN: 10259615) as Non-Executive Women Director
- Mrs. Bhatya is a qualified Chartered Accountant and serves as Chairman of Stakeholders Relationship Committee
Ramdevbaba Solvent Limited has submitted its Annual Report for FY 2025-26 and scheduled its 18th Annual General Meeting for September 23, 2026. On a standalone basis, FY26 revenue from operations came in at ₹829.90 crore compared to ₹935.59 crore in FY25, while net profit stood at ₹14.48 crore versus ₹15.03 crore in FY25. The company highlighted the commencement of commercial operations at its corn oil unit in January 2026 and the launch of its new blended edible oil brand 'EATREO'.
- Standalone revenue from operations for FY26 reported at ₹829.90 crore (Rs. 82,990.23 lakhs) vs ₹935.59 crore in FY25
- Standalone net profit for FY26 reached ₹14.48 crore (Rs. 1,448.21 lakhs) compared to ₹15.03 crore in FY25
- Commercial operations at the new corn oil unit commenced in January 2026
- 18th Annual General Meeting scheduled for September 23, 2026 via Video Conference
Ramdevbaba Solvent Limited has released the notice for its 18th Annual General Meeting (AGM) scheduled on September 23, 2026, via video conferencing. Among the key agenda items, the company seeks shareholder approval for material related party transactions up to ₹500 crore with subsidiary RBS Renewables Private Limited for FY 2026-27 (equivalent to ~28.5% of TTM revenue of ₹1,752 crore). Additionally, approval is sought for fresh borrowing powers of up to ₹250 crore over outstanding debt (current debt stands at ₹106 crore). The record/cut-off date for e-voting eligibility is September 16, 2026.
- 18th AGM scheduled for September 23, 2026, via Video Conferencing / OAVM.
- Approval sought for material related party transactions up to ₹500 crore with subsidiary RBS Renewables Pvt Ltd in FY27.
- Special resolution proposed to raise additional borrowings up to ₹250 crore over existing debt.
- Cut-off date for e-voting eligibility fixed as September 16, 2026; e-voting runs from September 19 to September 22, 2026.
Ramdevbaba Solvent Limited has announced the schedule and book closure dates for its upcoming 18th Annual General Meeting (AGM). The AGM is scheduled to take place on September 23, 2026, at 10:30 AM IST via Video Conferencing/OAVM. The company fixed September 16, 2026, as the cut-off date to determine member eligibility for e-voting. The register of members and share transfer books will remain closed from September 15, 2026, to September 23, 2026.
- 18th Annual General Meeting scheduled for September 23, 2026, at 10:30 AM IST via VC/OAVM
- Cut-off/Record date for voting eligibility fixed as September 16, 2026
- Book closure period scheduled from September 15, 2026, to September 23, 2026 (both days inclusive)
Ramdevbaba Solvent Limited has announced its 18th Annual General Meeting (AGM) scheduled for September 23, 2026, to be held via Video Conferencing. The company has fixed September 16, 2026, as the cut-off date (record date) to determine shareholder voting eligibility. The register of members and share transfer books will remain closed from September 15, 2026, to September 23, 2026 (both days inclusive). This is a standard corporate compliance filing with no operational or financial impact.
- 18th Annual General Meeting scheduled for September 23, 2026, at 10:30 AM IST via Video Conferencing
- Record/Cut-off date for e-voting eligibility set as September 16, 2026
- Book closure period fixed from September 15, 2026, to September 23, 2026 (both days inclusive)
Ramdevbaba Solvent Limited announced the outcome of its Board meeting held on August 21, 2026. The Board approved the Annual Report and Cost Audit Report for FY ended March 31, 2026. The 18th Annual General Meeting (AGM) is scheduled for September 23, 2026, via video conferencing. The cut-off date for e-voting eligibility has been set for September 16, 2026, with book closure from September 15 to September 23, 2026.
- 18th Annual General Meeting scheduled for September 23, 2026, at 10:30 AM IST via VC/OAVM
- Cut-off/Record date for AGM e-voting fixed as September 16, 2026
- Book closure period finalized from September 15, 2026, to September 23, 2026
- Cut-off date for eligibility to receive the AGM Notice set for August 21, 2026
- Board approved and adopted FY26 Annual Report and Cost Audit Report
Ramdevbaba Solvent Limited has scheduled a Board Meeting for August 21, 2026, to approve the Draft Annual Report for the fiscal year ended March 31, 2026. The board will also finalize the schedule, venue, and record date for the company's 18th Annual General Meeting (AGM). In compliance with SEBI insider trading regulations, the trading window for designated persons will be closed from August 13 to August 23, 2026. This is a routine administrative filing necessary for annual compliance and shareholder engagement.
- Board meeting scheduled for August 21, 2026, to approve the FY26 Draft Annual Report.
- Trading window for insiders closed from August 13, 2026, to August 23, 2026.
- Agenda includes deciding the Record Date and Cut-off Date for e-voting for the 18th AGM.
- Board to finalize the Day, Date, Time, and Venue for the upcoming 18th Annual General Meeting.
- Appointment of Scrutinizer and service providers (NSDL/CDSL) for the AGM process.
Financial Performance
Revenue Growth by Segment
The company operates in a single segment (Solvent Extraction and related activities). Consolidated revenue from operations for H1 FY26 was INR 385.60 Cr, representing a 4.01% decline compared to INR 401.72 Cr in H1 FY25.
Geographic Revenue Split
Not disclosed in available documents; however, the company is headquartered in Nagpur, Maharashtra, and operates primarily in India.
Profitability Margins
Gross material margins are tight, with cost of materials consumed at INR 293.91 Cr (76.22% of revenue) in H1 FY26. Standalone Profit Before Tax (PBT) stood at INR 9.13 Cr for H1 FY26, compared to INR 20.08 Cr for the full year FY25.
EBITDA Margin
Operating profit before working capital changes for H1 FY26 was INR 16.78 Cr (Standalone), which is approximately 4.35% of standalone revenue. This reflects a lean core profitability margin due to high raw material dependency.
Capital Expenditure
The company raised INR 44.62 Cr through an IPO in April 2024 and INR 26.04 Cr through a preferential issue. INR 5.21 Cr was specifically infused for capital enhancement in the subsidiary RBS Renewables Private Limited.
Credit Rating & Borrowing
Consolidated long-term borrowings stood at INR 199.77 Cr as of September 30, 2025. Short-term borrowings surged by 112.01% to INR 147.11 Cr from INR 69.39 Cr in March 2025, indicating increased reliance on working capital debt.
Operational Drivers
Raw Materials
Rice bran and other oilseeds (implied by solvent extraction business) accounting for 76.22% of total revenue (INR 293.91 Cr).
Import Sources
Primarily sourced from domestic markets in India, specifically Maharashtra and surrounding regions near Nagpur.
Capacity Expansion
Expansion is focused on subsidiaries; RBS Renewables Private Limited received INR 5.21 Cr for capital enhancement and INR 11.50 Cr for loan repayment to strengthen its balance sheet for future operations.
Raw Material Costs
Raw material costs stood at INR 293.91 Cr in H1 FY26. The company faces high sensitivity to agricultural commodity prices, which directly impact the 76.22% material cost-to-revenue ratio.
Strategic Growth
Growth Strategy
Growth is driven by diversification into high-margin FMCG products through 'Too Gud FMCG Products Private Limited' and expanding into the green energy sector via 'RBS Renewables Private Limited'. The company is also utilizing IPO and preferential issue proceeds to optimize its capital structure and fund working capital.
Products & Services
De-oiled cake, refined rice bran oil, FMCG consumer goods (under Too Gud brand), and renewable energy generation services.
Brand Portfolio
Ramdevbaba Solvent, Too Gud.
New Products/Services
Expansion into the FMCG segment with consumer-packaged goods and scaling renewable energy services through subsidiaries.
Market Expansion
Targeting the FMCG retail market and increasing footprint in the renewable energy sector in India.
External Factors
Industry Trends
The industry is shifting toward value-added branded oils and FMCG products to escape commodity price traps. The company is positioning itself by diversifying into FMCG and Renewables to align with sustainability and consumer trends.
Competitive Landscape
Competes with other large-scale solvent extractors and regional FMCG players in the edible oil and consumer goods space.
Competitive Moat
The company's moat is built on its integrated solvent extraction facilities and its emerging presence in the branded FMCG space, which provides higher switching costs compared to unbranded commodities.
Macro Economic Sensitivity
Highly sensitive to agricultural GDP and monsoon patterns which dictate raw material availability and pricing.
Consumer Behavior
Increasing consumer preference for branded, healthy edible oils and sustainable energy sources.
Geopolitical Risks
Minimal direct exposure, though global edible oil price fluctuations impact domestic realizations for rice bran oil.
Regulatory & Governance
Industry Regulations
Subject to Food Safety and Standards Authority of India (FSSAI) norms for its oil and FMCG products, and environmental norms for its solvent extraction and renewable energy plants.
Taxation Policy Impact
The company accounts for Deferred Tax Liabilities, which stood at INR 6.88 Cr as of September 30, 2025.
Legal Contingencies
The company reported NIL investor complaints received, disposed of, or pending during the period from April 1, 2025, to September 30, 2025.
Risk Analysis
Key Uncertainties
Volatility in raw material prices (76% of revenue) and the successful scaling of the new FMCG and Renewable subsidiaries.
Geographic Concentration Risk
High concentration in Maharashtra, India, specifically around its Nagpur operations.
Third Party Dependencies
High dependency on agricultural vendors and farmers for consistent raw material supply.
Technology Obsolescence Risk
Low risk in solvent extraction, but the FMCG division requires continuous digital marketing and distribution technology updates.
Credit & Counterparty Risk
Standalone trade receivables increased by INR 13.90 Cr in H1 FY26, indicating a potential extension of credit terms to customers.
