1. Business Profile: The Soybean Value Chain
Incorporated in 2018, Yashhtej Industries (India) Limited specializes in solvent extraction, converting raw soybeans into Crude Soybean Oil and De-Oiled Cake (DOC).
B2B Focus: They currently supply crude oil to major refiners who process it for edible consumption.
Animal Feed: Their DOC (Soya Meal) is a high-protein staple for the poultry and cattle feed industries.
The Pivot: The company is using IPO proceeds to set up its own refining and bottling plant, allowing them to transition from a B2B supplier to a branded B2C edible oil player.
Green Energy: They have recently diversified into solar power, securing a 5 MW project in Maharashtra to support sustainable operations.
2. Key IPO Details & Timelines
As a "Fixed Price" issue, there is no bidding range; the price is set at a flat ₹110 per share.
| Event / Detail | Status / Date |
|---|---|
| Bidding Period | Feb 18 – Friday, Feb 20, 2026 |
| Issue Price | ₹110 per share (Fixed) |
| Lot Size | 1,200 Shares |
| Min. Retail Investment | ₹2,64,000 (2 Lots / 2,400 shares) |
| Total Issue Size | ₹88.88 Crore (100% Fresh Issue) |
| Allotment Date | Monday, February 23, 2026 |
| Listing Date | Wednesday, February 25, 2026 |
| Listing Exchange | BSE SME |
3. Financial Performance: Explosive Scaling
The company has shown a "hockey-stick" growth curve over the last three years:
Revenue: Skyrocketed from ₹12 Cr (FY23) to ₹324.96 Cr (FY25).
Profitability: Turned from a loss in FY23 to a Net Profit of ₹11.57 Cr in FY25.
Return Metrics: Reported a very high ROE of 83.61% (FY25), though this is expected to normalize as the equity base expands post-IPO.
Valuation: The issue is priced at a P/E of 14.27x based on FY25 earnings, which is competitive for the food processing sector.
4. Grey Market Premium (GMP) Today (Feb 18, 2026)
GMP Status: ₹0 (Flat).
Market Sentiment: Currently, the grey market is quiet. Since this is a Fixed Price issue in the SME segment, investors often wait for Day 1 and Day 2 subscription figures to gauge demand before activity picks up in the unofficial market.
5. Strategic "Use of Proceeds"
Yashhtej is raising capital primarily for physical expansion:
Capital Expenditure (₹63.88 Cr): To establish the new refining and bottling facility.
Working Capital (₹6.11 Cr): To manage the increased inventory needs of the new branded retail business.
General Corporate Purposes (₹9.50 Cr): Branding, marketing, and operational scaling.
6. Investment Analysis: Strengths vs. Risks
Strengths:
Promoter Expertise: Deep technical knowledge in solvent extraction based in the soybean hub of Latur.
Forward Integration: Moving from low-margin crude oil to higher-margin branded edible oil.
Asset Growth: Total assets grew from ₹25 Cr to ₹75 Cr in just two years.
Risks:
Commodity Price Volatility: Profitability is highly sensitive to the global price of raw soybeans.
High Working Capital: The agro-processing business requires significant cash for seasonal procurement.
Sustainability of Growth: Analysts have noted the "sudden" jump in FY25 revenue; investors should monitor if this pace is maintainable.
7. Conclusion: A Transition Story
Yashhtej Industries is at an inflection point. If they successfully execute their transition into branded edible oils, the current valuation could look very attractive. However, with a minimum entry ticket of ₹2.64 lakh, it is a high-conviction play suited for investors who believe in the "Atmanirbhar" agro-processing story of India.