Aelea Commodities Ltd

BSE: 544213

₹ 130+0.31%refreshed 26 Oct, 11:25 am ISTMarket cap: ₹ 265 crWebsite: www.aeleacommodities.comUpdated: 24 Oct 2026

About

Aelea Commodities is a cashew processor that runs an automated 140 MT/day plant in Surat, Gujarat. The company also extracts by-products and has plans to add CNSL oil and biofuel. Consolidated revenue for FY26 was ₹381.50 cr, up 109.46% YoY. Management says it is the only large-scale automated processor in Western India, in a market of about 2,000 processors.^[1][2][3]

Business mix

In H1 FY26, cashew processing made up 100% of revenue, up from 73.7% in FY25. The commodities trading business has been fully exited.^[1]
In FY25, commodities trading contributed 26.3% of standalone revenue (₹4,363 lakhs). Cashew processing revenue was ₹12,228L in FY25, against ₹6,463L in FY24.^[1][4]
B2C sales of consumer pouches through e-commerce made up about 1% of sales in FY26. Management stated a 13-15% EBITDA margin for this segment.^[2]
The FY25 annual report describes the business as buying and selling agricultural commodities, food products and industrial goods, including cashew nuts.^[5]

Operations and capacity

Unit 2 in Surat covers 238,454 sq ft and is fully automated. It was commissioned in May 2025, raising capacity to 140 MT/day from about 40 MT/day.^[1][4]
Capacity utilisation was about 94-95% in H2 FY26. In H1 FY26 the plant ran at the full 140 MT/day for only 3.5 months.^[2][1]
Power accounted for 27% of processing cost as of H1 FY26.^[1]
The plant ran about 240 operating days per year as of FY25.^[4]

Key operating numbers

About 16,000 MT of raw cashew nuts were processed in H2 FY26, with a similar volume in H1 FY26.^[2]
Average kernel realisation was ₹590-595/kg in FY26. Whole kernels made up 63% of the recovery mix in FY26.^[2]
The yield was 23 kg of edible cashew per 100 kg of raw cashew nuts in H1 FY26.^[1]
Raw cashew nut prices fell about 17-18% over the 12 months to H1 FY26.^[1]
Standalone EBITDA margin was 13.10% in H2 FY26 and 11.07% for FY26 as a whole. The FY25 margin was 4.75%.^[2][4]

Sourcing and customers

In FY26, 60-65% of supply was sourced directly from Africa, buying at origin or in transit. This deeper sourcing raised working capital needs.^[2]
The top 10 customers accounted for 24.67% of revenue in FY25.^[4]
Management is focusing on institutional buyers, which it says are about one-fifth the size of the general trade market. It is also growing general trade.^[2]
Counterparties for food products include franchisees, sweet makers and logistics providers. Planned distribution includes regional distributors for South Gujarat.^[5]

Expansion and capex

Phase 2 is a CNSL oil extraction facility of about 50 MT/day. Civil works were expected to finish within about 30 days of the May 2026 call. Revenue is targeted from H2 FY27, subject to government approvals.^[2]
The capex for Phase 2 was estimated at ₹12 crores for FY26.^[4]
A 4 MW captive solar plant has been ordered, with completion timed to match Phase 2.^[1]
The company acquired 412,164 sq ft of land at Vasaravi, Surat for Unit 3. The unit is planned for renewable energy and by-product processing. Phase 3 capex is planned for the later part of FY27.^[1][2]
The 2037 roadmap targets 1,000 MT/day of cashew capacity, other nuts and makhana, and about 100 franchise retail stores.^[2]

Recent developments

Aelea Green Energy was formed as a 100% subsidiary in FY26 to run the biofuel, biochar and sustainability certification business.^[1]
A ₹2 crore provision was made in FY25 against a receivable from Satpuda Sakhar sugar factory. Recovery is being pursued through legal process.^[4]
All ₹51 crore of net IPO proceeds had been used by March 31, 2025.^[4]

Market Cap

₹265 Cr

High / Low

₹215 / 106

Stock P/E

12.4

Price / Book

2.6

Book Value

₹62

EPS

₹10.5

No. of Shares

2.04 Cr

ROCE

20.9%

ROE

18.7%

OPM

9.6%

Debt / Equity

0.88

Sales

₹382 Cr

Net Profit

₹21 Cr

Promoter holding

63.7%

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