BSE: 538921
Raghuvansh Agrofarms Limited
Operates as an agricultural products group, classified under FMCG and Agricultural Food & other Products, with its corporate office in Kanpur, Uttar Pradesh. The business runs through the parent entity and two subsidiaries — Kanpur Organics Pvt Ltd (organic products) and Sanjeevani Fertilizers & Chemicals Pvt Ltd (fertilizers and chemicals) — which together contributed to consolidated financials in FY26. FY26 revenue stood at Rs 7.6709 crore against total assets of Rs 104.3698 crore, indicating a very small-scale operation. Materials at 34.1% of revenue are the largest cost line, followed by other operating expenses at 25.8%, employee costs at 7.1%, and capital expenditure at 9.0% of revenue. Long-term borrowings were reduced from Rs 885.89 lakh to Rs 486.93 lakh during FY26, reflecting active deleveraging. Shareholders approved the shifting of the registered office from Delhi to Uttar Pradesh in FY26 to align with the Kanpur operating base, with the Regional Director's order received in July 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Organic agricultural products, Fertilizers and chemicals, Other agricultural products. Small-scale agricultural products and inputs business with organic and fertilizer subsidiaries.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 22 | 11 | 14 | 10 | 8 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 4.94 | 5.00 | 5.31 | 5.28 | 3.65 |
| ROE % · ROCE % | — · 10.8 | — · 10.0 | — · 9.1 | — · 9.1 | — · 6.7 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (0) | 13 | (13) | (1) | 8 |
| Capex | — | — | — | 0 | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 4 | 4 | 10 | 5 | 6 | 4 | 4 |
| Profit before tax | 3 | 4 | 3 | 5 | 4 | 4 | 3 | 2 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 2.38 | 2.85 | 2.66 | 3.59 | 2.85 | 2.42 | 2.57 | 1.36 |
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) | 3.7 | 12.6 | 4 of 53 | 94% |
| ROCE | 5.5 | 4.1 | 30 of 67 | 56% |
| Revenue growth | (62.3) | 10.3 | 41 of 51 | 20% |
| Market cap | 41 | 68 | 40 of 69 | 43% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 25 Sept 2026 · New Independent Director Appointed at Raghuvansh Agrofarms | management changes | medium | — | — |
| 25 Sept 2026 · AGM 2026 results: all 3 resolutions passed unanimously with 100 percent votes in favor | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Independent Director completes 5-year tenure, ceases from board | management changes | medium | — | — |
| 25 Sept 2026 · 30th AGM held; 3 resolutions transacted including new independent director | board shareholder meetings | low | — | — |
| 22 Sept 2026 · Trading window closed from 1 Oct 2026 ahead of H1 results | compliance | minimal | — | — |
| 10 Sept 2026 · Supreme Court dismisses appeals against SEBI; company explains delayed disclosure | regulatory legal | medium | — | — |
| 8 Sept 2026 · Supreme Court dismisses company's appeal against SEBI order | regulatory legal | high | — | — |
| 31 Aug 2026 · Dispatch of AGM Notice and Annual Report to Shareholders | compliance | minimal | — | — |
| 29 Aug 2026 · Book Closure for 30th AGM from Sept 18 to Sept 25, 2026 | compliance | minimal | — | — |
| 29 Aug 2026 · 30th AGM of Raghuvansh Agrofarms scheduled on 25 September 2026 | board shareholder meetings | low | — | — |
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.