Ajooni Biotech Ltd eyes additional revenue of Rs 200 crore and expects 20 per cent margin from Moringa Project

PNN
Mumbai (Maharashtra) [India], June 8:
- One of the leading companies in the animal healthcare solutions and animal feed supplements is eyeing additional revenues of around Rs 200 crore from the Moringa farming project in Rajasthan over the next 7 years. Moringa farming project is expected to produce Moringa-mash, bio-coal, oil, carbon credits and seed cake and expected the generate profit margins of approx. 20 per cent. Moringa project is aimed at improving animal productivity, reducing global warming and enhancing farmer's income.
Company has launched pilot project for Moring farming in Rajasthan and is confident to achieve benefits including rise in farmer income, reduction in the global warming, increase animal productivity among others. Company is in the process of acquiring land for its own seed production for its requirement of seed for future cultivation of Moringa on phase wise commercial production on 200 hectors of land subject to successful trails of pilot scale farming on 10 hector land and thereafter validation of processes and availability of required funds.
For the Quarter ended March 2023, company reported net sales of Rs 41.26 crore, 101 per cent rise YoY from sales of Rs 20.51 crore in Q4FY22. Net profit during Q4FY23 was reported at Rs 54 lakh.
Company expects the project to be win-win for all the stakeholders. Moringa has the potential of doubling the farmers income over a period of time. Biodiesel made from Moringa and intercrop of Camelina Oil and sustainable aviation fuel from Camelina will help bringing energy security and lesser outgo of foreign exchange. The initiative has potential to attract high value industries to the state - Rajasthan by availability of feed-stock in the following five industries 1) Biodiesel 2) Sustainable Aviation fuel 3)Torrified Renewable Coal 4) Animal Feed 5) Pharma products.
Established in the year 2010, Ajooni Biotech Ltd has emerged as one of the leading animal healthcare solutions companies dedicated to improving the productivity of Dairy farmers and sustainably increase livestock yields. Company offers a wide range of products including Quality Cattle feed, Cattle feed Chips, Camel Feed, Cotton Oil Cake, Mustard Oil Cake and wide range of Feed supplements to cover the entire life-cycle of an animal.
Company has two state-of-the-art manufacturing facilities with a cumulative Animal feed production capacity of 1,60,000 MTPA and liquid supplements capacity of 30 lakh Litres per annum. Company is currently working with more than 10,000 farmer families in seven states of Northern India and plans to grow nationally. Ajooni is also ISO and GMP certified company, manufacturing ISI mark Cattle Feed.
During December 2022, company successfully completed its Rs 29.01 crore rights issue. The funds raised through the issue will be utilised to meet the working capital requirements to fund company's expansion plans, entering new geographies and for general corporate purposes.
Ajooni Biotech Ltd has became the first Indian Animal Feed manufacturing company to get ZED certification (Zero Effect Zero Defect) from Ministry of Micro, Small & Medium Enterprises, Govt of India. The Company is Registered with Department of Dairy Development, Govt of Punjab (India) and India's first GMP certified Cattle feed company with ISO 9001:2015. The company is registered with Bureau of Indian Standards (BIS) and manufacturing ISI Mark Animal feed. The Company is among main suppliers to leading companies like IFFCO Kisan, Mother Dairy, Paras Dairy & Saahaj Dairy.
With an objective to expand AJOONI Brand in global markets, company has executed its first export order for supply of Ajooni Cattle feed to Nepal after successful field trails in hilly country. Company has developed a unique product suitable to the specific feed requirements of animal species of the semi hilly areas of Nepal; Bhutan to achieve optimal nutrition, gut health and pathogen control of livestock while maximizing the profitability of Dairy farmers of these countries. Company is also exploring all the possibilities to penetrate its marketing network to international markets of African Continent, South Asia and Middle East markets. You are requested to take the above information on records.
For FY 23, Company reported sales of Rs 74.5 crore and Net profit of Rs 1.12 crore. Company has achieved strong CAGR of 23 per cent in Sales and 45 per cent in Net Profit during the last 3. Company came up with it's IPO on NSE Emerge platform in December 2017 & migrated to the main board of NSE in May 2022.
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