Submission of transcript of earnings conference call held on Friday, 24th October, 2025.
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Aelea Commodities reported strong H1 FY26 results with standalone revenue at INR 173.6 crore, up 110.6% year-on-year, driven by full commissioning of its 140 MTPD cashew processing Unit 2 in Surat. Standalone EBITDA grew 99.8% YoY to INR 15.4 crore (8.86% margin), while PAT more than doubled to INR 8.8 crore (5.09% margin), with EPS at INR 4.34. Management noted that Unit 2 operated at full capacity for only 3.5 months during H1, with the first two months being negative on EBITDA due to monsoon disruption. The company has discontinued commodity trading entirely (FY26 is 100% cashew processing) and has acquired land for Unit 3 in Vasaravi (412,164 sq ft) along with a 4 MW solar plant and CNSL-based oil project under Phase 2. A 100% subsidiary, Aelea Green Energy, has been formed to capture sustainability-led premium pricing in export markets.
Management guided FY26 revenue to more than double the H1 figure (implying INR 350-400+ crore range) and expects average EBITDA margins of 12-13% for the full year as operating leverage and seasonal demand (Diwali, weddings, summer) drive H2 performance. Borrowings have come down by INR 12 crore since March 2025, supporting profitability. Expansion into CNSL oil, biochar, and solar (IRR of 27-28%) provides multi-year growth optionality, though commodity price volatility and concentration on a single product line remain key risks.