The Indian capital market continues to buzz with activity, especially in the SME sector, providing significant opportunities for retail and institutional investors. One such upcoming event capturing attention is the Initial Public Offering (IPO) from Yashhtej Industries (India) Limited. This fixed-price issue on the BSE SME platform merits a thorough examination before committing capital. At Publiclisting.in, we dissect the crucial details, from financial health to utilization plans, to offer a comprehensive overview.
Publiclisting.in Analysis: Yashhtej Industries (India) SME IPO
IPO Overview: Key Subscription Timeline and Price Details
Yashhtej Industries (India) is launching an IPO structured as a Fixed Price Issue, aiming to raise ₹88.88 crores. This offering is entirely a Fresh Issue of 0.81 crore equity shares.
IPO Timetable at a Glance (Tentative Dates)
Understanding the exact dates for bidding, allotment, and listing is vital for timely application.
| Event | Tentative Date |
|---|---|
| IPO Opening Date | Wednesday, February 18, 2026 |
| IPO Closing Date | Friday, February 20, 2026 |
| Allotment Finalization | Monday, February 23, 2026 |
| Initiation of Refunds / Credit of Shares to Demat | Tuesday, February 24, 2026 |
| Listing Date (BSE SME) | Wednesday, February 25, 2026 |
Visualization of Subscription Progress: While the actual subscription status is pending until the opening date, here is the structure reflecting the IPO period:
Pricing and Investment Details
| Parameter | Value |
|---|---|
| Face Value | ₹10 per share |
| Issue Price | ₹110 per share |
| Minimum Lot Size (Retail) | 1,200 Shares |
| Minimum Investment (Retail) | ₹2,64,000 (Based on 2 lots) |
| HNI Minimum Investment | ₹3,96,000 (3 lots) |
Understanding the Business: Operations and Strengths
Established in 2018, Yashhtej Industries (India) Limited operates primarily in the agricultural processing sector. It focuses on a B2B model, supplying essential commodities to refining entities.
Core Business Segments and Products
- Manufacturing/processing of Soybean Crude Oil from raw soybeans using the solvent extraction process.
- Producing Soybean De-Oiled Cake (DOC), a high-protein byproduct used widely in animal feed.
- Recent diversification into the solar power generation and supply segment.
Competitive Advantages Identified
To gauge its market position, key strengths cited by the company include:
- Adoption of automated manufacturing processes for efficiency.
- Maintaining an in-house laboratory dedicated to stringent quality checks.
- Offering customization options for DOC products to meet diverse client specifications.
- Benefiting from governmental incentive support structures.
- Strategic forward integration into the Edible Soybean Oil segment.
Financial Health Snapshot (Restated Figures in ₹ Crore)
Reviewing historical financials provides context on the company's trajectory leading up to the public listing.
| Metric | Mar 31, 2023 | Mar 31, 2024 | Sep 30, 2025 (Interim) |
|---|---|---|---|
| Total Income | 12.00 | 59.25 | 191.22 |
| Profit After Tax (PAT) | -0.58 | 1.13 | 7.25 |
| EBITDA | -0.58 | 2.59 | 12.44 |
| Total Borrowing | 16.62 | 33.91 | 37.47 |
Operational Efficiency Metrics (KPIs)
| KPI | Mar 31, 2024 | Sep 30, 2025 |
|---|---|---|
| ROE | - | 31.19% |
| ROCE | - | 17.98% |
| PAT Margin | - | 3.79% |
| Debt/Equity Ratio | - | 1.39 |
Post-IPO Valuation and Shareholding Structure
The IPO structure details how the existing ownership will be diluted and how the market capitalization is being established.
Pre and Post-Issue Valuation Comparison
| Valuation Metric | Pre-IPO Basis | Post-IPO Basis |
|---|---|---|
| EPS (Rs) | 7.71 | 6.28 |
| P/E Multiple (x) | 14.26 | 17.51 |
| Market Capitalization (Estimated) | ₹253.88 Cr | (Calculated based on Post-Issue structure) |
Promoter Stake and Issue Allocation
The promoters, including Mr. Baswaraj Madhavrao Barge, Mr. Suraj Shivraj Barge, and Mr. Shivling Madhavrao Barge, are central to the company's governance.
- Promoter Holding Pre-Issue: 100.00%
- Promoter Holding Post-Issue: 65% (Indicating a significant dilution)
IPO Reservation Breakdown
The allocation strategy shows a significant portion reserved for retail and NII categories:
| Investor Category | Shares Offered | Percentage (%) |
|---|---|---|
| Market Maker | 4,04,400 | 5.01% |
| NII (HNI) | 38,37,600 | 47.50% |
| Retail Individual Investors (RII) | 38,37,600 | 47.50% |
| Total Shares Offered | 80,79,600 | 100.00% |
Deployment of Funds and Intermediaries
The purpose behind raising capital is crucial for understanding the company's future growth trajectory.
Primary Objectives for Net Proceeds
The funds raised are intended to fuel specific expansion and operational needs:
- Capital Expenditures: Estimated at ₹63.88 Cr (the largest component).
- Working Capital Requirements: Estimated at ₹6.11 Cr.
- General Corporate Expenses.
Key IPO Facilitators
- Book Running Lead Manager (BRLM): ERUDORE CAPITAL PRIVATE LIMITED
- Registrar & Share Transfer Agent: MAS Services Ltd. (Contact: +91 2610 4142, ipo@masserv.com)
- Market Maker: Prabhat Financial Services Ltd.
Strategic Analysis: Strengths, Weaknesses, Opportunities, and Threats (SWOT)
A balanced view requires assessing both internal capabilities and external market dynamics.
Strengths
- Established B2B presence in oil extraction and DOC supply.
- Vertical integration capabilities, including solar power generation.
- Quality control mechanisms supported by in-house laboratory facilities.
Weaknesses
- High dependency on a single core commodity (soybeans).
- Significant borrowing noted in recent financial periods (Total Borrowing as of Sep 2025: ₹37.47 Cr).
- Low PAT margins in comparison to potential listing valuation demands.
Opportunities
- Expansion into the growing edible oil market segment (forward integration).
- Potential scalability in the renewable energy (solar) sector.
- Strong historical financial growth in Total Income from FY23 to FY25 (interim).
Threats
- Volatility in soybean commodity prices impacting raw material costs.
- Competition in the processed oil and DOC segments from established large players.
- Regulatory risks associated with government incentives or agricultural policies.
Company Contact Information
For direct communication or further clarification on corporate matters:
Registered Address: Plot No. D-73/1, Additional MIDC, Latur, Maharashtra, 413512
Contact: +91 9175881666 | Email: info@yashhtej.com
Final Considerations for Prospective Investors
The Yashhtej Industries (India) SME IPO presents an opportunity rooted in the agro-processing sector, aiming for expansion through significant capital expenditure. Given its fixed-price structure and listing on the BSE SME platform, investors should weigh the attractive entry price relative to its recent financial performance and the inherent risks associated with commodity-dependent businesses. A careful assessment of the P/E ratio against industry peers, leveraging available IPO reports and reviews, is advisable before placing bids during the subscription window from February 18 to February 20, 2026.