Ajooni Biotech Ltd. Eyes Rs. 200 Crore Revenue from Moringa Farming Project in Rajasthan
Mumbai (Maharashtra), June 9 – Ajooni Biotech Ltd., a leading provider of animal healthcare solutions and feed supplements, is set to generate an additional Rs. 200 crore over the next 7 years from its Moringa farming project in Rajasthan. The initiative is expected to produce a variety of products including Moringa-mash, bio-coal, oil, carbon credits, and seed cake. The project aims to enhance animal productivity, combat global warming, and significantly improve farmer income.
Moringa Farming Project: A Strategic Move
The Moringa farming project is designed to benefit both the environment and the farming community. The company has already launched a pilot project in Rajasthan and is confident that the initiative will bring numerous advantages, such as increased farmer incomes, reduced global warming effects, and improved animal productivity. Ajooni Biotech is in the process of acquiring land for seed production, which will support future Moringa cultivation on a commercial scale, expanding to 200 hectares once the pilot scale farming on 10 hectares is successfully completed and validated.
Strong Financial Growth and Future Prospects
In the Quarter ending March 2023, Ajooni Biotech reported a significant rise in sales, with net sales reaching Rs. 41.26 crore, a 101% year-on-year increase compared to Rs. 20.51 crore in Q4FY22. The company also reported a net profit of Rs. 54 lakh during the same period.
The Moringa farming initiative aligns with the company’s long-term goals, offering a “win-win” solution for all stakeholders involved. The biodiesel derived from Moringa, as well as the intercrops of Camelina Oil, have the potential to boost energy security and reduce foreign exchange outflow. Furthermore, this project will create opportunities for high-value industries in Rajasthan, including those in biodiesel production, sustainable aviation fuel, torrified renewable coal, animal feed, and pharmaceutical products.
Ajooni Biotech’s Global Expansion
Ajooni Biotech, established in 2010, has been at the forefront of providing animal healthcare solutions and feed supplements, which have contributed to increasing the productivity of dairy farmers and enhancing livestock yields. The company offers a diverse range of products, including cattle feed, camel feed, cotton oil cake, mustard oil cake, and various feed supplements that cover the entire lifecycle of an animal.
The company operates 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 liters per annum. Ajooni currently works with more than 10,000 farmer families across seven northern Indian states and plans to expand nationally.
Recognition and Future Plans
Ajooni Biotech is also gaining recognition for its contributions to the industry. In December 2022, the company successfully completed a Rs. 29.01 crore rights issue, which will be used to support its expansion plans and meet working capital requirements. Ajooni became the first Indian animal feed manufacturing company to receive the ZED certification (Zero Effect Zero Defect) from the Ministry of Micro, Small, and Medium Enterprises (Govt. of India).
As part of its global strategy, Ajooni has also successfully completed its first export order of Ajooni Cattle Feed to Nepal, after successful field trials in the hilly regions of Nepal and Bhutan. The company is now exploring international markets in Africa, South Asia, and the Middle East.
Financial Performance and IPO
For FY 2023, Ajooni Biotech reported sales of Rs. 74.5 crore and a net profit of Rs. 1.12 crore, achieving a strong compounded annual growth rate (CAGR) of 23% in sales and 45% in net profit over the last three years. The company debuted on the NSE Emerge platform in December 2017 and migrated to the main board of NSE in May 2022.
Rajneesh Singh is a journalist at Asian News, specializing in entertainment, culture, international affairs, and financial technology. With a keen eye for the latest trends and developments, he delivers fresh, insightful perspectives to his audience. Rajneesh’s passion for storytelling and thorough reporting has established him as a trusted voice in the industry.
