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Ajooni Biotech Targets Rs 200 Crore Revenue, Expects 20% Margin From Moringa Project
The Moringa project is aimed at improving animal productivity, reducing global warming, and enhancing farmers' income
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Ajooni Biotech Ltd eyes additional revenue of Rs 200 crore and expects 20 per cent margin from Moringa Project
Ajooni Biotech, one of the leading companies in 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.
The company has launched a pilot project for Moringa farming in Rajasthan and is confident to achieve benefits including a rise in farmer income, a reduction in global warming, and increased animal productivity among others.
The 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 trials of pilot scale farming on 10 hector land and thereafter validation of processes and availability of required funds.
Moringa farming project is expected to produce Moringa-mash, bio-coal, oil, carbon credits, and seed cake and expected the generate profit margins of approximately 20 per cent. The Moringa project is aimed at improving animal productivity, reducing global warming, and enhancing farmers' income.
For the Quarter ended March 2023, the 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.
The company expects the project to be a 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 bring energy security and lesser outgo of foreign exchange.
The initiative has the potential to attract high-value industries to the state - Rajasthan by the availability of feed-stock in the following five industries 1) Biodiesel 2) Sustainable Aviation fuel 3) Torrefied 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 increasing livestock yields.
The 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.
The company has two state-of-the-art manufacturing facilities with a cumulative Animal feed production capacity of 1,60,000 MTPA and a liquid supplements capacity of 30 lakh litres per annum. It 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.
In December 2022, the 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 the company's expansion plans, enter new geographies and for general corporate purposes.
For FY 23, Company reported sales of Rs 74.5 crore and Net profit of Rs 1.12 crore. The company has achieved a strong CAGR of 23 per cent in Sales and 45 per cent in Net Profit during the last 3. The company came up with its IPO on NSE Emerge platform in December 2017 & migrated to the main board of NSE in May 2022.