Shubhshree Biofuels Energy Ltd(SHUBHSHREE)

NSE: SHUBHSHREE

₹ 320-0.31%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 168 crUpdated: 24 Oct 2026

About

Shubhshree Biofuels Energy Ltd makes biomass fuel products such as pellets and briquettes from agricultural residues. It sells them to industrial users and to thermal power plants for co-firing, and also runs boiler operation and maintenance and green steam services. FY26 revenue was 201.83 (Rs Cr). The company runs five plants with 450 MT/day of manufacturing capacity.^[1][2]

Business mix

Thermal power plants made up 40% of revenue and private industrial customers 60%, as stated on the Q4 FY26 call.^[3]
Product mix: pellets 70% of revenue, briquettes 25% and biomass husk 5%, as stated on the Q1 FY26 call.^[4]
The company has commercialised a Utility-as-a-Service boiler management model that supplies green steam under 3-5 year contracts at fixed prices (Q4 FY26).^[3]
The Green Steam business (Biosteam LLP) expanded into food processing, textiles and chemicals in Q3 FY26.^[5]
In FY26 the company built up its boiler operations and maintenance (O&M) services.^[1]

Products and raw materials

The company makes biomass fuel products such as biomass pellets and briquettes (FY26 annual report).^[1]
The industry's feedstock is agricultural residue such as paddy straw, cotton stalk, mustard residue and sugarcane trash (FY26 annual report).^[1]
Raw material aggregation cost fell to about ₹2/kg as of Q4 FY26, from ₹3.50-4/kg three years earlier.^[3]
The company had a network of 1,500+ farmers in FY25.^[4]

Manufacturing capacity

Five plants with 450 MT/day of manufacturing capacity ran at 80% utilisation in FY26, compared with 100% utilisation reported for H1 FY26.^[3]
A 100 TPD biomass pellet plant at Bhuna, Haryana was commissioned in Q3 FY26.^[5]
Rural Green Energy (100 MT/day) moved to a new facility with PLC/HMI automation, which gave a 20% throughput gain (H1 FY26).^[6]
Rooftop solar has been installed at the manufacturing facilities (FY26 annual report).^[1]
Capex was ₹354 lakhs in FY26.^[3]

Customers and markets

The company serves 450+ companies, including NTPC, Sun Pharma, Reliance and ITC (Q4 FY26).^[3]
It supplied 30 operational thermal power plant clients in FY26, up from 20+ in FY25.^[3]
By state, Rajasthan made up 50.7% of H1 FY26 revenue, Punjab 20.9% and Haryana 18.9%.^[6]
Its delivery network covered 10+ states as of FY25.^[4]
End users include textiles, paper, chemicals, food processing, pharmaceuticals, ceramics and manufacturing, plus thermal power plants that co-fire biomass (FY26 annual report).^[1]
Thermal power plants must co-fire 5% biomass from FY2024-25, rising to 7% by FY2025-26 (Q1 FY26 call).^[4]

Expansion plans

Plan to add five plants in Bihar, UP and Karnataka to take capacity from 450 MT/day to 1,000 MT/day in FY27, with ₹15-20 Cr of capex. The funding source was not yet finalised (Q4 FY26).^[3]
A greenfield 100 TPD pellet plant at Katni, Madhya Pradesh was under construction, with statutory approvals in progress, in Q3 FY26.^[5]
A 40-ton torrefaction R&D plant bought from China, for high-calorific biofuels, was due for commissioning by July/August 2026. Realisation is expected to rise from ₹7 per kg to ₹12 per kg.^[3][1]
Target for FY27: 150 thermal power plants to complete co-fire tests (72 completed so far) and 70-80 plants to start daily use.^[3]

Recent developments

25 Sep 2026: The company set up a new subsidiary, Biomandi India Pvt Ltd, taking a 52% stake for Rs 52,000 at face value. The subsidiary will focus on collecting agricultural waste.^[7]
FY26: NSE fined the company Rs 1,77,000 for filing consolidated results late. A relative of a designated person also made a contra trade in breach of insider trading rules.^[1]
FY26: New associates Agrizen Bioenergy LLP and Biosteam LLP had not yet started operations.^[1]
Q4 FY26: The company began a new 40 TPH boiler O&M project at Jhagadia, Gujarat and expanded ash management in Punjab.^[3]
Q3 FY26: The company began ash management and fuel feeding operations at Fatehgarh Sahib, Punjab.^[5]
January 2025: Three subsidiaries were incorporated: Shubhshree Recycling (100%), Ecodensify Solutions (51%) and Ruralgreen Energy (51%).^[4]
FY25: The board allowed loans and guarantees to subsidiaries of up to Rs 10 crore.^[8]

Market Cap

₹168 Cr

High / Low

₹435 / 274

Stock P/E

16.4

Price / Book

5.1

Book Value

₹78

EPS

₹20.1

No. of Shares

0.52 Cr

ROCE

32.7%

ROE

29.4%

OPM

7.5%

Debt / Equity

0.32

Sales

₹202 Cr

Net Profit

₹11 Cr

Promoter holding

73.6%

Loading chart…

Signal history

AI Deep Dive

The analysis Screener can't give you

Our models read the latest earnings call, annual report, and financials end-to-end - then grade management, value the business, and flag the risks. Unlock all of it for this company:

Verdict
The headline call - descriptive label, conviction, and the synthesis behind it.
Valuation
Guidance-anchored P&L bridge - worst / average / best multiple cases.
Walk the talk
Did management deliver on past guidance? A commitment-by-commitment scorecard.
Red flags
Forensic and governance risk pointers, severity-ranked.
Balance sheet
Solvency and earnings-quality score.
Concall briefs
Quarter-by-quarter earnings-call briefs - what changed and why.

₹49 unlocks this company for 90 days, ₹299 for a full year - bundles bring it lower. Built on public disclosures - educational, not investment advice.

AI Deep Dive

Verdict

Locked

The headline call - descriptive label, conviction, and the synthesis behind it.

Company data

Financials