AJANTA SOYA LTD.

Operates in the edible oil business within India's Fast Moving Consumer Goods sector, earning revenue by trading and/or processing edible oils. Raw materials — essentially the oils themselves — account for 84.4% of revenue, which is typical of a thin-margin edible oil business where the cost of the input dominates the P&L. The company engages in international trade, as evidenced by a customs matter dated 12 March 2026 relating to imported goods and the use of Merchandise Exports from India Scheme (MEIS) scrips, with the company indicating it intends to appeal to CESTAT. In FY26, total revenue from operations stood at Rs 1,307.67 crore, with an EBITDA margin of just 1.47% and net profit of Rs 8.38 crore — a sharp decline from the prior year. Beyond raw materials, employee cost is 0.8% of revenue, other operating expenses 3.7%, depreciation 0.2% and capex 0.6%, leaving very little operating headroom. The low capex intensity relative to revenue suggests a trading or blending profile rather than heavy refining, though the disclosed pack does not specify plant locations, capacities, brands or product mix.