BSE: 524480
RIDDHI SIDDHI GLUCO BIOLS LTD.
The company's FY26 revenue of Rs. 235.84 crore comes predominantly from a trading business that contributed Rs. 190.04 crore in the period covered by F_SEGMENTS. Smaller named operations, visible across the quarterly trend data, include Wind Energy Generation (between Rs. 0.02 crore and Rs. 10.61 crore per quarter) and Packaged Water Bottling (between Rs. 6.83 crore and Rs. 12.43 crore per quarter). It has completed the acquisition of a 3 lakh MT corn milling plant from Cargill India at Davangere, Karnataka, and is amending its Main Object Clause to add corn milling, starches, dextrose monohydrate, dextrose anhydrous, sorbitol, ethanol, and pharmaceuticals to its permitted activities. To power the new Davangere facility, it holds a 26% partnership interest in Clean Max Pluto Solar Power LLP, which operates a 25.30 MW wind and solar plant. The subsidiary Shree Rama Newsprint Limited's Paper Division has been discontinued, with an impairment of Rs. 2,784.33 lakh booked in FY26. On the cost side, materials are 7.2% of revenue, other operating expenses 14.5%, employee cost 3.4%, and depreciation 3.5%, with capex at just 0.1% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading Business, Wind Energy Generation, Packaged Water Bottling, Other unnamed segments. Diversified trading and light-manufacturing group with small renewable and packaged-water lines, expanding into corn-based products
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 521 | 173 | 268 | 136 | 236 |
| EBITDA (ex other income) | 10 | 1 | 3 | 2 | (12) |
| margin % | 2.0 | 0.4 | 1.3 | 1.5 | (5.2) |
| Owners' profit | 14 | (56) | 47 | 5 | 0 |
| EPS, as reported (₹) | 20.09 | (119.10) | 61.53 | 17.06 | 17.16 |
| ROE % · ROCE % | 0.1 · 2.2 | (5.7) · 3.5 | 2.8 · 4.4 | (0.8) · 4.9 | (0.8) · 2.8 |
| Debt / equity (x) | 0.10 | 0.05 | 0.04 | 0.06 | 0.18 |
| Cash from operations | 161 | 1 | 9 | (28) | (9) |
| Capex | (6) | (0) | (13) | (49) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 14 | 49 | 44 | 28 | 155 | 32 | 40 | 9 |
| Profit before tax | 16 | 23 | 15 | 18 | 15 | 16 | 2 | (4) |
| Net profit | 24 | 13 | (54) | 5 | 8 | 14 | (1) | (33) |
| EPS (₹) | 33.50 | 18.70 | (75.76) | 6.49 | 11.27 | 19.30 | 1.81 | 45.91 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Wind Energy Generation | 13 | 5.5 |
| Trading Business | 190 | 80.6 |
| Packaged Water Bottling | 33 | 13.9 |
| Total, before eliminations | 236 | 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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 30,351 | 17.8 | 2.91 | 14.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 8,166 | 18.3 | 3.85 | 17.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 4,696 | 20.0 | 5.20 | 13.9 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,593 | 24.5 | 4.11 | 18.4 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,178 | — | 13.10 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 755 | 8.3 | 0.59 | 190.1 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 47.7 | 6.0 | 6.9 | — | 4.9 |
| SHANKARA BUILDPRO LIMITED | 609 | 4.6 | 1.12 | 2.7 | 23.4 | 31.8 | — | 3.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.0 | 15.8 | 43 of 130 | 67% |
| P/B | 0.3 | 1.0 | 26 of 150 | 82% |
| ROCE | 1.8 | 2.1 | 91 of 177 | 49% |
| ROE | (0.8) | 2.3 | 124 of 158 | 22% |
| Debt / Equity | 0.2 | 0.1 | 99 of 154 | 36% |
| EBITDA margin | 32.6 | 4.5 | 18 of 137 | 88% |
| Revenue growth | (67.7) | (8.6) | 103 of 135 | 24% |
| Profit growth | (807.2) | 0.6 | 149 of 157 | 5% |
| Market cap | 504 | 22 | 11 of 180 | 94% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · Trading Window Closed for Q2 Financial Results | compliance | minimal | — | — |
| 30 Sept 2026 · Registered office shifted from Gujarat to Haryana | regulatory legal | low | — | — |
| 28 Sept 2026 · Riddhi Siddhi Gluco Biols: All 6 resolutions passed at 35th AGM | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Proceedings of 35th Annual General Meeting held on 25 September 2026 | board shareholder meetings | medium | — | — |
| 18 Sept 2026 · Registered office shift from Gujarat to Haryana approved | regulatory legal | medium | — | — |
| 2 Sept 2026 · 35th AGM notice on Sep 25, 2026: dividend, auditor and director changes | board shareholder meetings | low | — | — |
| 2 Sept 2026 · 35th Annual Report FY26 submitted; AGM on 25 Sep 2026 with key resolutions | results | high | — | — |
| 31 Aug 2026 · Board appoints Independent Director, re-appoints auditor; fixes record date for dividend | management changes | medium | — | — |
| 31 Aug 2026 · Board appoints independent director, re-appoints auditor, fixes AGM date | management changes | medium | — | — |
| 13 Aug 2026 · Q1 FY27: Standalone revenue down 45%, PAT down 26% YoY; Rs 200 cr related-party borrowing approved | 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.