TickerSutra

NSE: REGAAL · BSE: 544485 · ISIN INE0MHO01029

Regaal Resources Limited stock analysis

Regaal Resources Limited ranks #1913 in the TickerSutra evidence-ranked universe with a score of 50/100 and 89% data confidence. The latest captured fundamentals show ROCE of 12.0%, quarterly sales growth of -18.0% and quarterly profit growth of 47.0%.
Complete evidence gate pass governance reviewUpdated 29 Sept 2026
TICKERSUTRA SCORE50/100

Monitor only

#1913 of 5,430 ranked equities
Market capitalisation₹900.65cr
ROCE12.0%
Quarterly sales growth-18.0%
Quarterly profit growth47.0%
P/E ratio13.9×
Promoter pledge0.0%

INVESTMENT EVIDENCE

What supports—and challenges—the thesis

Evidence in favour

  • 32.5% three-year sales CAGR
  • Institutional ownership is rising
  • CWIP indicates an active capacity pipeline
  • No promoter shares are reported as pledged

Risks and constraints

  • Debt/equity is above 0.5×
  • CFO/EBITDA is below 0.6×

Still unresolved: Related-party exposure · Broad media sentiment

FINANCIAL TRAJECTORY

Recent operating history

PeriodRevenueOperating profitNet profitOperating margin
2022₹380cr₹46cr₹26cr12.0%
2023₹488cr₹41cr₹17cr8.0%
2024₹600cr₹56cr₹22cr9.0%
2025₹915cr₹113cr₹48cr12.0%
2026₹1,134cr₹127cr₹56cr11.0%
TTM₹1,090cr₹133cr₹60cr12.0%
Debt / equity1.26×
CFO / EBITDA0.55×
Operating margin12.0%
Free cash flow₹-245cr
Sales CAGR · 3Y32.5%
Profit CAGR · 3Y48.8%

EXCHANGE EVENT TRIGGERS

Latest corporate disclosures

0 positive catalysts0 negative catalysts8 routine filings

MANAGEMENT COMMENTARY

Signals from filed documents

Capacity expansion plansHigh severity · 9 mentions
Positive catalyst

This year, we are expecting that the crushing will go up above 4,00,000 tons in the entire year. On the follow-up on this, like new capacity, how much is actually going towards the value-added like liquid glucose and maltodextrin versus Maize Starch? Anil Kishorepuria: Last year, we had about 3% of our entire turnover as value -added products.

Debt reductionHigh severity · 1 mention
Positive catalyst

As the expanded capacity enters their ramp -up phase, we expect free cash flow generation to strengthen, enabling greater reliance on internal accruals and supporting a progressive reduction in leverage. In essence, we are now transitioning from CAPEX -led phase to a phase of cash generation and deleveraging, supporting our expanded capacity, stronger product mix, improving operating leverage and disciplined capital

Export market updatesHigh severity · 7 mentions
Constructive

We also continue to deepen our international footprint. Contribution from exports more than doubled to 10.4% in quarter 1 ‘27 from 4.9% in quarter 1 ‘26, reflecting growing acceptance of our products across international markets. With our expanded capacity and enlarged product base, we need to enter new geographies, deepen existing relationships and build a more geographically diverse revenue base.

Capacity commissioningHigh severity · 3 mentions
Positive catalyst

Quarter 1 FY’27 marks an important inflection point in Regaal’s growth journey. During the quarter, we completed a major phase of capacity commissioning and have now entered a phase focused on ramping up utilization, scaling volumes and capturing greater value from expanded manufacturing capabilities. The centerpiece of this phase was the commissioning on 26 May 2026 of a doubling of a crushing capacity from 825 metr

Export growthHigh severity · 1 mention
Positive catalyst

Institutional customers, particularly in food processing and pharmaceuticals, will be a major area of focus, along with the continued expansion of our white-labelling business. • Export Growth: Southeast Asian countries present meaningful export opportunities. Our expanded capacity and broader product portfolio will enable us to serve a wider base of international customers, enter new geographies, and progressively s

Pricing commentaryHigh severity · 2 mentions
Caution

Rohit Sinha: But in terms of starch pricing, how has been the trend for that? I mean, any percentage we can indicate that how much percentage of price increase was there or how much we have seen in Q1? Anil Kishorepuria: I have to calculate that, sir.

Margin expansionModerate severity · 2 mentions
Positive catalyst

Value-added grew 30.3% year -on-year to Rs. 80.53 crores, with value -added margin expanded to 39.8% from 25.1% in Q1 FY26 , driven by a decisive shift towards higher margin, manufacturing led revenue. We also continue to deepen our international footprint.

Operating leverageModerate severity · 9 mentions
Positive catalyst

So, I think it will be prudent to not guide on what can be the price tomorrow of the maize and the finished product, and which is a combination which results in an EBITDA per ton. So, what we can definitely guide is that we are going to grow our production and we will get operating leverage. And obviously, our EBITDA per ton relatively will improve, assuming that the prices which are standing today remain constant.

Working capital stretchModerate severity · 2 mentions
Risk easing

Regaal Resources Limited August 17, 2026 Page 4 of 14 Our working capital position reflects the scale and timing of our expansion. The cash conversion cycle stood at 130 days, driven largely by higher inventory levels built to support the expanded 1650 metric ton per day capacity. As the incremental capacity was commissioned only towards the later part of the quarter, the corresponding revenue contribution had not ye

Regulatory updatesLow severity · 13 mentions
Watch

Compliance, governance, transparency, and management accountability have always been central to the way we operate, and our listing has reinforced this commitment further. Our team is well equipped to manage the regulatory and compliance requirements associated with being a listed company, supported by external advisors and consultants wherever specialised guidance is required. We have also strengthened our systems,

Regulatory approvalLow severity · 13 mentions
Watch

EVALUATION OF THE PERFORMANCE OF THE BOARD, ITS COMMITTEES AND OF INDIVIDUAL DIRECTORS Pursuant to the provisions of Section 134(3)(p) of the Companies Act, 2013, read with Rule 8(4) of the Companies (Accounts) Rules, 2014, and Regulation 17(10) read with Schedule II of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the Company carried out an annual performa

Raw material inflationLow severity · 2 mentions
Watch

Shivam Gupta: And like Q1 profit jump around 47% year -on-year. How much it was because of raw material cost or it was due to operating leverages? Anil Kishorepuria: I would give this that it was majorly towards operating leverages only.

MANAGEMENT PROMISE LEDGER

Quantified statements on the clock

ProfitabilityTracking

“So, as the percentage is increased or value-add, our margins are obviously bound to increase. As we scale up our production, we will get operating leverage. Now, while the second and the third is happening and we’ve already guided, you know that our, this year we will do about 4 lakh tons and then we will do about 20% or whatever this year as far as the value-add is concerned.”

Open the full Promise Ledger

HOW TO READ THIS PAGE

Evidence, freshness and limitations

What does the TickerSutra score mean?

The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.

Which sources support this page?

Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.

Why can an item be unresolved?

Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.

Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer

DIRECTOR & BUSINESS NETWORK

Loading corporate intelligence

Loading universe coverage and exchange-backed evidence…