BSE: 544213
AELEA COMMODITIES LIMITED
The business processes raw cashew nuts (RCN) into kernels at its Surat facility, which runs at 140 MTPD of processing capacity at 94-95% utilisation, having expanded from 40 MTPD previously. Raw cashew nuts, sourced largely from Africa (95% of inputs), make up 94.2% of revenue, so the company is heavily exposed to RCN price moves and USD/INR volatility. Beyond kernel processing, it is building a Cashew Nut Shell Liquid (CNSL) extraction facility due to commission shortly, with biochar/activated carbon planned as Phase 3, plus a 4 MW captive solar plant, reflecting a vertical integration push across cashew, by-products and renewable energy. Sales run through bulk B2B kernel channels and a small branded B2C business (Tribal and Supreme brands) that currently contributes about 1% of revenue but carries 13-15% EBITDA margins. Finance costs rose from around ₹2 crore to around ₹8 crore as the company deepened its value chain and held 80-90 days of inventory. FY26 consolidated revenue stood at ₹381.50 crore with PAT of ₹21.32 crore, and management has set a 2037 roadmap targeting around 1,000 MTPD of cashew capacity, 100 premium retail franchise stores, and entry into new nuts (almond, walnut, makhana, pistachio). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cashew kernel processing, CNSL oil extraction (forthcoming), B2C branded retail. Asset-heavy commodity processor deepening vertical integration into by-products (CNSL, biochar) and captive renewable energy.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 142 | 182 | 382 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 7.65 | 0.57 | 10.46 |
| ROE % · ROCE % | — · 28.5 | — · 5.3 | — · 28.1 |
| Debt / equity (x) | — | — | — |
| Cash from operations | (7) | 9 | (30) |
| Capex | — | 0 | (18) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 88 | 94 | 174 | 208 |
| Profit before tax | 0 | 7 | (5) | 12 | 14 |
| Net profit | — | — | — | — | — |
| EPS (₹) | 0.00 | 2.19 | 2.17 | 4.27 | 6.19 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| LT FOODS LIMITED | 14,064 | 22.0 | 3.11 | 12.0 | 13.8 | 16.0 | 18.7 | 11.5 |
| KRBL LIMITED | 8,814 | 11.6 | 1.52 | 9.1 | 11.2 | 14.7 | 8.8 | 24.9 |
| GUJARAT AMBUJA EXPORTS LT | 7,226 | 17.4 | 2.19 | 13.4 | 9.2 | 11.7 | 4.0 | 17.0 |
| TRUALT BIOENERGY LIMITED | 3,643 | 26.0 | 2.31 | 13.8 | 6.1 | 4.8 | — | 23.5 |
| KAVERI SEED CO. LTD. | 3,485 | 14.1 | 1.99 | 9.4 | 16.9 | 17.0 | 6.1 | 40.1 |
| INDRAYANI BIOTECH LTD. | 3,444 | 25.9 | 33.73 | 251.2 | 1.9 | 0.2 | 45.6 | 8.2 |
| AMIR CHAND JAG KUM (E) L | 2,206 | 21.1 | 2.39 | 12.9 | 11.2 | 14.8 | — | 9.5 |
| SANSTAR LIMITED | 1,948 | 57.9 | — | — | — | — | — | 8.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.7 | 12.6 | 18 of 53 | 67% |
| ROCE | 20.5 | 4.1 | 8 of 67 | 89% |
| Market cap | 291 | 68 | 20 of 69 | 72% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Compliance certificate under SEBI Reg 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 6 Oct 2026 · CRISIL reaffirms BBB/Stable rating, bank facilities enhanced to Rs 150 Cr | credit debt | medium | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 ahead of H2 FY26 results | compliance | minimal | — | — |
| 31 Aug 2026 · Outcome of investors and analysts meeting filed with BSE | investor communications | low | — | — |
| 25 Aug 2026 · 8th AGM results: all 5 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 25 Aug 2026 · AELEA Commodities appoints Mr. Gopal Krishan Sood as Independent Director | management changes | medium | — | — |
| 25 Aug 2026 · Aelea Commodities holds 8th AGM, passes 5 resolutions including borrowing limits | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Management to meet analysts and investors on 31 August 2026 | board shareholder meetings | low | — | — |
| 4 Aug 2026 · Newspaper publication of 8th AGM notice and book closure | compliance | minimal | — | — |
| 3 Aug 2026 · AELEA COMMODITIES FY26 Annual Report: Revenue up 109%, PAT up 1739% | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.