BSE: 519477
CIAN Agro Ind & Infra Ltd
Runs a diversified group based in Nagpur with at least eight named divisions — Agro, Healthcare, Infrastructure, Power, Distillery, LPG, E10 (ethanol) and Bottling — plus a recently acquired hand-tools business. In the period ended 31 March 2026, Healthcare was the largest profit-generating named division with EBIT of ₹95.4581 crore on revenue of ₹341.2257 crore, followed by Bottling (EBIT ₹18.5218 crore on ₹52.0758 crore), LPG (₹10.751 crore on ₹47.2206 crore), Distillery (₹6.9501 crore on ₹28.0082 crore) and E10 (₹6.8547 crore on ₹29.49 crore); Agro (₹68.9726 crore revenue), Infrastructure (₹2.2622 crore) and Power (₹85.0959 crore) reported segment losses. In March 2026 the company acquired Shubhada Tool Industries through the IBC process, adding hand-tools manufacturing (spanners, pliers, pipe wrenches, angle handles) with a 300 MT per month plant capacity. The board has also approved a scheme to merge six subsidiaries including Varron Aluminium into the listed parent. Group revenue for FY26 stood at ₹2,234.3457 crore with EBITDA margin of 23.3%, and materials were the largest cost at 40.3% of revenue. The company is listed on BSE (Scrip Code 519477) and is seeking a direct listing on NSE. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Healthcare Division, Power Division, Agro Division, Bottling Division, LPG Division, E10 Division, Distillery Division, Infrastructure Division. Diversified conglomerate spanning agro, healthcare, power, ethanol, distillery, LPG and bottling
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 254 | 290 | 171 | 1,029 | 2,234 |
| EBITDA (ex other income) | 23 | 25 | 19 | 142 | 476 |
| margin % | 9.2 | 8.8 | 11.2 | 13.8 | 21.3 |
| Owners' profit | 1 | 0 | 5 | 41 | 223 |
| EPS, as reported (₹) | 0.22 | 0.12 | 1.75 | 14.71 | 79.57 |
| ROE % · ROCE % | 0.8 · 9.6 | 0.4 · 9.6 | 5.5 · 15.1 | 2.0 · 4.0 | 10.0 · 13.2 |
| Debt / equity (x) | 1.11 | 1.54 | 1.20 | 0.64 | 0.54 |
| Cash from operations | 4 | 37 | 65 | 281 | 375 |
| Capex | — | (10) | 0 | (55) | (35) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 125 | 396 | 490 | 511 | 421 | 646 | 656 | 687 |
| Profit before tax | (1) | 36 | 11 | 54 | 12 | 114 | 63 | 154 |
| Net profit | (0) | 33 | 8 | 52 | 19 | 90 | 64 | 150 |
| EPS (₹) | (0.01) | 11.70 | 2.99 | 18.66 | 6.79 | 31.99 | 22.84 | 53.49 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| AGRO DIVISION | 148 | 6.6 |
| HEALTHCARE DIVISION | 390 | 17.5 |
| INFRASTRUCTURE DIVISION | 10 | 0.5 |
| POWER DIVISION | 695 | 31.1 |
| DISTILLERY DIVISION | 97 | 4.4 |
| LPG DIVISION | 168 | 7.5 |
| E10 DIVISION | 106 | 4.7 |
| BOTTLING DIVISION | 163 | 7.3 |
| UNALLOCATED | 2 | 0.1 |
| Agro Division | 63 | 2.8 |
| Healthcare Division | 366 | 16.4 |
| Infrastructure Division | 20 | 0.9 |
| Unallocated | 6 | 0.3 |
| Total, before eliminations | 2,234 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| MARICO LIMITED | 1,00,055 | 52.8 | 22.26 | 39.5 | 40.3 | 38.1 | 11.1 | 21.9 |
| PATANJALI FOODS LIMITED | 40,393 | 20.5 | 3.08 | 24.6 | 13.9 | 10.3 | — | 4.8 |
| AWL AGRI BUSINESS LIMITED | 21,415 | 18.5 | 2.05 | 8.2 | 10.0 | 11.1 | — | 3.8 |
| GOKUL AGRO RESOURCES LTD | 6,128 | 11.8 | 4.31 | 9.1 | 26.0 | 26.9 | 23.5 | 4.1 |
| CIAN Agro Ind & Infra Ltd ◆ | 2,551 | 7.9 | 1.15 | 7.2 | 10.0 | 7.7 | 53.1 | 32.3 |
| SUNDROP BRANDS LIMITED | 2,394 | 85.8 | 1.62 | 38.2 | 1.4 | 1.7 | — | 6.1 |
| Shri Venkatesh Refineries Limi | 1,659 | 33.5 | — | — | — | 22.2 | — | — |
| KN AGRI RESOURCES LIMITED | 472 | 10.5 | 1.23 | 8.6 | 8.2 | 11.4 | — | 4.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.9 | 17.6 | 5 of 28 | 85% |
| P/B | 1.1 | 1.2 | 12 of 25 | 54% |
| ROCE | 7.7 | 7.4 | 15 of 30 | 52% |
| ROE | 10.0 | 8.2 | 10 of 25 | 63% |
| Debt / Equity | 0.5 | 0.2 | 18 of 25 | 29% |
| EBITDA margin | 32.3 | 4.4 | 1 of 26 | 100% |
| Revenue growth | 34.4 | 5.0 | 4 of 25 | 88% |
| Profit growth | 186.7 | 27.1 | 4 of 23 | 86% |
| Market cap | 2551 | 104 | 5 of 31 | 87% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · CIN updated following change in industry classification and object clause | compliance | minimal | — | — |
| 13 Oct 2026 · RTA files compliance certificate under SEBI Regulation 74(5) for Q2 | compliance | minimal | — | — |
| 1 Oct 2026 · 39th AGM results: All 7 resolutions passed with 99.99% majority | board shareholder meetings | low | — | — |
| 30 Sept 2026 · CIAN Agro 39th AGM held on 30 Sep 2026; seven resolutions tabled | board shareholder meetings | low | — | — |
| 29 Sept 2026 · MD Nikhil Gadkari appointed as MD of material subsidiary Manas Agro Industries | management changes | high | — | — |
| 25 Sept 2026 · Trading window closes Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 6 Sept 2026 · Public Notice on dispatch of 39th AGM Notice | compliance | minimal | — | — |
| 5 Sept 2026 · Letter to Shareholders - 39th AGM Notice and Annual Report FY 2025-26 | compliance | low | — | — |
| 5 Sept 2026 · 39th AGM: Strong FY26 Results, Healthcare/Logistics Expansion Move | board shareholder meetings | low | — | — |
| 5 Sept 2026 · Annual Report FY2025-26: Revenue up 62%, stock doubles | investor communications | medium | — | — |
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.