Shubhshree Biofuels Energy Ltd. (SHUBHSHREE)
SME CapPower stocks · SME cap · NSE
Shubhshree Biofuels Energy Ltd. is India's only listed company exclusively focused on solid bioenergy, converting agricultural waste into high-quality pellets and briquettes. It operates a 'farm-to-factory' model with an annual production capacity exceeding 5 lakh metric tonnes, serving power plants and industries across multiple states.
One read, four checks
75+ is strong, 60-74 is usable, 45-59 is mixed, and below 45 needs caution. These are research lenses, not buy/sell instructions.
Mixed fundamentals, management trust is acceptable, price trend is neutral, and recent execution is mixed.
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
low confidence · 0/0 claims checked
Timing lens: price trend and sector relative strength.
Rolling lens: recent quarterly delivery, not the latest single-result score.
Quarter ended 31 Mar 2026
Average · 30/100YoY data unavailable — classification deferred
| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹106 Cr | NDF | +10.4% |
| EBITDA | ₹9 Cr | +50.0% | +50.0% |
| Operating margin | 9.0% | +200 bps | +300 bps |
| PAT | ₹7 Cr | NDF | +75.0% |
| PAT margin | 6.6% | +189 bps | +243 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Business & thesis
Growth engines, tailwinds/headwinds, and risk radar from management commentary
Where growth can come from, and what can break the case
FY26 revenue grew 24.1% YoY to ₹20,183.1 Lakhs, driven by strong execution. EBITDA increased 39.1% YoY to ₹1,567.0 Lakhs, with margins improving 83 bps to 7.7%. PAT rose 36.7% YoY to ₹1,106.0 Lakhs, with PAT margins at 5.5%.
The company delivered robust FY26 financial performance with significant revenue and profit growth, alongside margin expansion. Strategic capacity additions and diversification into new verticals like ash management and torrefied biomass technology support continued growth. Management targets Rs. 500 Cr topline by FY28, indicating confidence in scaling its integrated renewable energy platform.
Biomass Pellet Manufacturing Expansion
Initiated strategic expansion plans to establish new biomass pellet manufacturing facilities across Uttar Pradesh, Karnataka, and Gujarat.
Boiler O&M Project Execution
Successfully secured and commenced operations for a new 40 TPH boiler O&M project in Jhagadia, Gujarat.
Integrated Fuel Supply & Logistics
Actively developing an integrated fuel supply and logistics network to ensure uninterrupted biomass availability for large industrial consumers.
Diversification into New Verticals
Diversifying the scalable renewable energy platform across new key verticals, including ash management services and torrefied biomass technology.
New Biomass Pellet Plant
Commissioned new biomass pellet manufacturing plant in Katni, Madhya Pradesh in FY26.
New Boiler O&M Operations
Commenced operations for a 40 TPH O&M plant in Jhagadia, Gujarat in FY26.
Previous Plant Commissioning
Commissioned 3 new plants in Madhya Pradesh, Chhattisgarh, and Haryana in FY25.
Supply Capacity Scaling
Scaled to 1000+ tonnes per day supply in FY25.
Stable Power Demand
The industrial sector's ongoing need for reliable energy is creating a steady demand for secure power alternatives.
Shift to Alternative Fuels
Heavy industries are actively switching to cheaper, reliable alternative fuels due to expensive and risky traditional fuels.
Energy Security & Sustainability
Switching to solid biofuels provides a steady, cost-effective fuel source protected from global oil volatility and reduces carbon footprint.
Regulatory Mandate
The 7% biomass co-firing mandate (Ministry of Power) transforms biomass into a mandatory thermal fuel, de-risking demand.
Management accountability
What management said, and what results must prove
Management accountability
What management said, and what results must prove
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
The presentation explicitly provides and highlights year-on-year growth percentages for all key financial metrics for FY26 and H2FY26, indicating that annual performance and trends are the primary focus for this period.
Revenue from Operations
Revenue for FY26 grew by 24.1% YoY to ₹20,183.1 Lakhs.
EBITDA
EBITDA for FY26 increased by 39.1% YoY to ₹1,567.0 Lakhs.
EBITDA Margin
EBITDA margins improved by 83 bps to 7.7% in FY26.
PAT
Profit After Tax (PAT) for FY26 stood at ₹1,106.0 Lakhs, registering a healthy growth of 36.7% YoY.
Topline Target
Targeting Rs. 500 Cr topline by FY28 with sustained/higher margins.
Scaling Integrated Solutions
Focused on scaling integrated renewable energy solutions across biomass manufacturing, fuel supply, boiler O&M services, and advanced torrefaction technology.
Long-term Platform Building
Building a long-term renewable energy platform aimed at supporting India’s clean energy transition and industrial decarbonization.
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Topline Growth | 24.1% YoY (FY26) | Progress towards Rs. 500 Cr by FY28. |
| EBITDA Margin | 7.7% (FY26) | Sustained or higher margins as per management's outlook. |
| Capacity Expansion | New plants commissioned in MP, Gujarat in FY26. | Commissioning and ramp-up of new facilities in Uttar Pradesh, Karnataka, and Gujarat. |
| Debt to Equity | 0.3 (FY26) | Prudent leverage management given ongoing strategic expansion and capex. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trend score and candlestick chart
51NeutralSMA20 +1.8% / mo · MACD +
Technical chart
SHUBHSHREEdaily · 1Y · AUTO+6.9%Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 57. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 rising (~1.8% over last month) — short-term momentum positive.
- RSI(14) at 57 — rising, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 26% off 52W high · 28% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Valuation & score drivers
U-Score 55 · FAIR VALUE · pillar breakdown, sector model, fair-value anchor
Fundamental score breakdown
FAIR VALUEWhy this score?
Top U-Score contributors and drags from the latest stored fundamentals.
Positive drivers
- Fair-value margin of safety is positive at 29.8%.
- Quality contributes 18/20 to the score.
- Growth contributes 22/25 to the score.
Main drags
- Penalty bucket subtracts 8 points.
- Cash flow is weaker at 0/10; verify the latest quarterly trend.
- Valuation is weaker at 10/30; verify the latest quarterly trend.
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Score history
12 stored score snapshots. Latest stored move: +0 points.
Factor attribution
Modelled fair value
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust score
Does management behaviour match later outcomes? Claim delivery, forensic breakdown, evidence depth
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Mixed Trust: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 64th percentile within Power. Main check: cash conversion is weak at 28/100.
Healthy Trust Lite: Promoter holding is 73.6%. Key concern: Operating cash flow is negative at ₹-1 Cr.
Usable, but needs evidence. Treat guidance with a margin of safety.
overall median 67 · Power: 64th pctile, median 65 · SME: 70th pctile, median 64
5 documents have extracted text, but claim history is not strong enough yet.
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Mixed Trust · low confidenceRead Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Trust positives
- ▸Promoter holding is 73.6%.
- ▸Promoter pledge is zero.
- ▸ROCE is 32.6%.
Trust risks
- ▸Operating cash flow is negative at ₹-1 Cr.
- ▸Only 0 years of positive FCF.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Financials
Full fundamentals table and 10-year revenue / profit / ROE history
Fundamentals
Valuation
- P/E
- 17.40
- P/B
- 4.50
- EV/EBITDA
- 13.07
- Market Cap
- 183.00Cr
Profitability
- ROE
- 29.60%
- ROCE
- 32.60%
- ROA
- 15.71%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 23.93%
- EPS 5Y
- 37.50%
- Revenue 3Y
- 23.93%
- EPS 3Y
- 37.50%
Balance Sheet
- Debt/Equity
- 0.32
- Interest Coverage
- 15.00×
- Altman Z
- 8.31
- Book Value
- 77.80
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -1.00 Cr
- EPS TTM
- 20.09
Shareholding
- Promoter Hold
- 73.58%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 38%
Financial History
Updated 5/9/2026
Revenue
₹ CrNet Profit
₹ CrReturn on Equity
%Peers
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Peers
Business-comparable names in Power, ranked by similarity
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.