Annual reportSep 2026
Sep 2026 · General Updates 25 Aug - Shubhshree Biofuels announced 13th AGM on September 19, 2026 and FY26 annual report access details.
Source: Nse
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.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result01 Jun, 08:02 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags24 Apr 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
32BearishSMA20 -2.3% / mo · MACD −
Stock trend: 32
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
SHUBHSHREED candles · FIT view-1.4%Latest close ₹325.00 on 2026-10-21
Bar
+0.0%
RSI
44
MACD hist
-1.52
52W pos
32%
2026-10-21O ₹325.00H ₹325.00L ₹324.95C ₹325.00Vol 8,700 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
SHUBHSHREENifty PowerNifty 500
- SHUBHSHREE
- -5.0%
- Nifty 500
- -5.6%
- Nifty Power
- -13.9%
- Vs Nifty 500
- +0.7 pp
Chart stats
21 Oct 2026- From 52W high
- -34.3%
- 52W range position
- 23%
- ATR (14)
- 4.7%
- Volume vs 20D
- 2.61x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹318 - ₹381
₹495
₹274 - ₹495
₹15.3
Latest completed session
20-session average
63.1% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE55
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Pending data—
Revenue NDF · PAT NDF YoY
Technical
Bearish32
Price trend and sector-relative-strength timing.
Valuation
Legacy model+35.6%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence68
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 31 Mar 2026
Pending dataYoY comparison unavailable - result verdict pending data
Filed 31 Mar 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹106 Cr | NDF | +10.4% |
| EBITDA | ₹9 Cr | NDF | +50.0% |
| Operating margin | 9.0% | NDF | +300 bps |
| PAT | ₹7 Cr | NDF | +75.0% |
| PAT margin | 6.6% | NDF | +243 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 16.00
- P/B
- 4.14
- EV/EBITDA
- 12.13
- Market Cap
- 169.00Cr
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
- 8.02
- Book Value
- 77.80
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 0/5
- OCF
- -5.00 Cr
- EPS TTM
- 20.09
Shareholding
- Promoter Hold
- 73.58%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 27%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 106+10.4% vs prev
Net Profit
₹ CrLatest: 7.0+75.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Bearish setupTrend is weak — long-term trend down. RSI 44.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~2.3% over last month) — short-term momentum negative.
- RSI(14) at 44 — falling, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 25% off 52W high · 19% 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.
Nifty 500 leadership
Relative Strength & Trend Stage
49
RS percentile
Stage 3 Topping
1M return
-4.4%
3M return
-3.6%
6M return
+8.3%
1Y return
-26.1%
RS 1D
+4
RS 20D
+10
Sector rank
#12
Industry rank
#75
Stage evidence
- 29.5% below the 52-week closing high after prior strength.
- The 30-week proxy has stalled (+0.1% over 20 sessions).
- Price has not yet confirmed a full Stage 4 downtrend.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
222 observations
21 Oct 2026Value 75.93+2.14%
RS vs Nifty 50076
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 55 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation10/30
Growth22/25
Quality18/20
Balance Sheet10/15
Cash Flow0/10
Piotroski
5/9 (+3)
Penalties
-8
Raw sum
55
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
55/100 · legacy band FAIR VALUE
Positive drivers
- Fair-value margin of safety is positive at 35.6%.
- 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.
Sector valuation model
Cyclical valuation: normalized earnings, not just trailing PE
Cyclical companies can look cheapest near peak profits, so IndiaPulse flags value-trap risk separately.
Primary lens
Mid-cycle PE/EV/EBITDA using multi-year average margins or earnings.
Secondary checks
Current margin versus 5-year average, balance sheet strength, commodity cycle.
Main risk check
A low trailing PE may mean peak-cycle earnings, not true cheapness.
PE
16.0
PB
4.1
EV/EBITDA
12.1
ROE
29.6%
ROCE
32.6%
FCF Yield
—
Debt/Equity
0.3
MoS
+35.6%
Cyclical/value-trap warning
This sector can look cheap when profits are temporarily high. Check mid-cycle margins/earnings before relying on trailing PE.
Score movement
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.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
55
Previous: 55
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+35.6%
Previous: +36.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
55
55
55
55
55
55
55
55
55
55
55
55
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹187.53
-73.3% MoS
Growth-justified P/E
25.1
Growth-justified Value
₹504.86
+35.6% MoS
PEG
0.43
Comparable companies
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.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RAJPUTANA
SME
Rajputana Biodiesel Ltd.
Renewable Energy
match 134
50
16.1
20.0%
+37%
FAIR VALUE
KKVAPOW
SME
KKV Agro Powers Ltd.
Renewable Energy
match 125
75
5.9
14.1%
+76%
DEEP VALUE
INDOWIND
Small
Indowind Energy Limited
Renewable Energy
match 125
23
—
0.1%
-3673%
OVERVALUED
ENERGYDEV
Small
Energy Development Company Limited
Renewable Energy
match 123
39
285.0
33.2%
-1034%
WATCHLIST
AQYLON
Small
Aqylon Nexus Limited
Renewable Energy
match 114
25
554.0
—
-17%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-08-23T16:11:22.906Z
Management commentary snapshot
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.
Growth engines
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.
Capacity and execution
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.
Tailwinds
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
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
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.
Sector KPIs management disclosed
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.
Management forward view
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.
Thesis monitor
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.
Trust Score
68Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 56th percentile of the scored universe and 65th percentile within Power. Main check: cash conversion is weak at 28/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
5 docs text-extracted · 1 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
56th percentile
overall median 67 · Power: 65th pctile, median 65 · SME: 70th pctile, median 64
Evidence depth
Financial-only
5 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read 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.
Promoter
86
strong · holding, pledge, alignment
Cash flow
28
weak · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
90
strong · capital discipline
Results
55
watch · quarterly consistency
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.
Continue researching Shubhshree Biofuels Energy Ltd.
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Annual reportSep 2026
Sep 2026 · Copy of Newspaper Publication 18 Aug - 13th AGM on September 19, 2026 via VC/OAVM; newspaper advertisement issued with annual report and e-voting details.
Source: Nse
Annual reportSep 2026
Sep 2026 · Shareholders meeting 24 Aug - Annual report for FY2025-26 and 13th AGM scheduled on September 19, 2026 via VC/OAVM.
Source: Nse
Annual reportSep 2026
Sep 2026 · Copy of Newspaper Publication 25 Aug - Newspaper advertisement confirms 13th AGM on September 19, 2026, with annual report dispatch and e-voting details.
Source: Nse
Investor presentationJun 2026
Jun 2026 · PPT
Source: Nse
Concall transcriptJun 2026
Jun 2026 · Transcript
Source: Nse
Annual reportMar 2026
Mar 2026 · Annual Report 2026
Source: Nse
Investor presentationMar 2026
Mar 2026 · PPT
Source: Nse
Investor presentationNov 2025
Nov 2025 · PPT
Source: Nse
Investor presentationJul 2025
Jul 2025 · PPT
Source: Nse
Annual reportMar 2025
Mar 2025 · Annual Report 2025
Source: Nse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.