Regaal Resources FY26: growth with a step-change in capacity

FY26 operating income was INR 11,341.7 million, operating EBITDA was INR 1,265.7 million (11.2% margin), and PAT was INR 555.6 million (4.9% margin).

On 26 May 2026, Regaal commissioned expansion doubling crushing capacity from 825 TPD to 1,650 TPD, and expanded captive co-generation from 7.1 MW to 15.8 MW.

The company commissioned a Liquid Glucose facility of 180 tons per day and a Maltodextrin Powder facility of 50 tons per day on 26 May 2026.

FY26 mix was Native Maize Starch 45.5%, Modified Starch 0.5%, Co-products 20.6%, Value added products 2.7%, and Trading and Others 30.7%.

Management stated trading activity is expected to reduce considerably and be near to zero, with only small instances possible for procurement lot-size reasons.

Cash conversion cycle improved to 50 days in FY26 from 93 days in FY25, driven by tighter working capital management including lower inventory and receivable days.

Total project outlay was stated at about INR 5,400 million, with about INR 4,014 million spent as of 31 March 2026; management indicated the balance is expected to be incurred over FY27.