Rajputana Bio.

Q3 FY25 Earnings Call Analysis

Chemicals & Petrochemicals

Full Stock Analysis
fundraise: Yescapex: Yesrevenue: Category 1margin: Category 3orderbook: No information
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fundraise

Any current/future new fundraising through debt or equity?

- Rajputana Biodiesel Limited plans to raise funds through a preferential equity round for the GCC biodiesel unit and the CBG unit. - The company intends to use both its own capital and external funds in this preferential round. - No specific details on debt fundraising were mentioned in the transcript. - The preferential round is aimed at financing new capacity expansions and projects, including the CBG and GCC biodiesel plants.
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capex

Any current/future capex/capital investment/strategic investment?

- Acquisition of 262-acre land parcel for planting own feedstock (Napier grass) for compressed biogas (CBG) production, expected to register by January end; civil work for CBG project to commence by January. - Civil work to start by January for a new biodiesel unit in the GCC region (Middle East) targeting the European Union and marine fuel blending markets; location mostly finalized and awaiting regulatory approvals. - Expansion of current biodiesel capacities in India by 3 to 4 times; plans to run enhanced capacity near 100% utilization next year. - Preferential share issuance planned to raise funds for GCC biodiesel and CBG units; promoters to participate as well. - Diversification into biomass pellets production (solid segment) with a 50-75 tons/day pellet unit under development. Overall, the company is investing in vertical and horizontal growth across biodiesel, CBG, and pellet sectors with clear timelines for 2026.
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revenue

Future growth expectations in sales/revenue/volumes?

- Rajputana Biodiesel aims to operate at nearly 100% capacity at its enhanced Indian units next year. - The company plans to start civil work for a 150 kiloliters per day biodiesel plant in the GCC region by January-end 2026. - They intend to tap the marine fuel blending market with 24% biodiesel blending mandatory from January 2028 in GCC. - The CBG (Compressed Biogas) unit will begin with a 10 tons per day capacity in Rajasthan, targeting high EBITDA margins of 65%-70%. - The company expects to grow vertically and horizontally across biodiesel, biomass pellets, and CBG sectors, becoming a one-stop renewable energy solution provider. - They have bid for the highest tender volume in company history, with supply expected by March next year. - Revenue growth is expected from expanded capacities, diversified product segments, and entry into lucrative GCC and export markets.
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margin

Future growth expectations in earnings/operating earnings/profits/EPS?

- Company aims to run enhanced capacities at almost 100% next year, targeting 130-150 kiloliters per day biodiesel production from April FY27. - Bid for highest volume ever in OMC biodiesel tender for Nov-Mar 2026 period, awaiting allocations. - Expanding into GCC region capturing Europe's 14% biodiesel blending mandate and marine VLSFO fuel blending mandate (24% biodiesel by 2028). - Vertical integration with CBG and biomass pellets, targeting high EBITDA margins (CBG EBITDA 65-75%). - Plans to diversify into Sustainable Aviation Fuel long term. - H2 FY26 numbers expected heavier than H1, indicating revenue and profit growth. - Company confident of sustaining and growing profitability due to own feedstock (leading to cost advantages). - Strategic expansions and product diversification aimed at long-term value creation and steady profit margin improvements.
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orderbook

Current/ Expected Orderbook/ Pending Orders?

- Rajputana Biodiesel Limited has bid for the highest volume ever in the company's history in the current OMC biodiesel tender for November 2025 to March 2026. - Exact order quantity and price details are not disclosed due to restrictions on sharing unpublished sensitive information. - Supply of these tendered volumes is expected by March 2026 upon receiving allocations. - The company expects to operate at near 100% capacity of its enhanced production units in the next year. - They have also received approvals for establishing two compressed biogas (CBG) units and a biodiesel unit in the GCC region aimed to tap export and international markets.