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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.
Credit Rating (CRISIL)
ACUITE D
Rates the company's debt-servicing ability — not the quality or value of its shares.
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Investment Thesis
Bharat Bio Gas Energy Limited is a small Gujarat-based biogas company incorporated in 2012, operating in a sector with significant government support and long-term structural growth drivers. India's SATAT scheme and National Bioenergy Programme provide clear policy tailwinds. However, as an unlisted company with limited public disclosures and a face-value share price, investors should conduct thorough due diligence. The company's ultimate success will depend on operational execution, feedstock management, and capital access.
Pros
Cons
Business Segments
Biogas Production
Anaerobic digestion of organic waste to produce biogas (methane-rich gas) for energy use, including potential conversion to Compressed Bio-Gas (CBG)
Organic Waste Processing
Collection and processing of organic waste streams including agricultural residues, food waste, and biomass
Bio-Fertiliser / Digestate
Sale of nutrient-rich digestate (organic slurry) produced as a by-product of biogas generation, usable as bio-fertiliser for agriculture
Revenue Model
Bharat Bio Gas Energy Limited generates revenue through the sale of biogas or compressed bio-gas (CBG) to industrial users, oil marketing companies (under SATAT), or for captive power generation. Additional revenue may come from tipping fees for organic waste processing and sale of bio-fertiliser digestate. The business model benefits from dual revenue streams — energy sales and waste processing fees.
Detailed Analysis
Growth Plans
Government of India's SATAT scheme providing guaranteed CBG offtake at fixed prices to oil marketing companies
National Bioenergy Programme Phase 2 offering capital subsidies for biogas plant development
Rising organic waste generation from India's growing food processing, dairy, and agriculture sectors
India's net-zero commitments requiring rapid scaling of bioenergy
Recent Developments
The Government of India expanded the SATAT scheme with a target of 5,000 Compressed Bio-Gas plants by 2025, providing guaranteed offtake at ₹46/kg for CBG. This creates a significant market opportunity for biogas producers like Bharat Bio Gas Energy.
2023India's Ministry of New and Renewable Energy (MNRE) launched Phase 2 of the National Bioenergy Programme with enhanced funding support for biogas plant development, benefiting companies in this sector.
2022Bharat Bio Gas Energy Limited shares are tracked on the unlisted market at approximately ₹10 per share (face value), reflecting early-stage investor access to the India biogas sector.
Comparable Companies
Frequently Asked Questions
About Bharat Bio Gas Energy
Bharat Bio Gas Energy Limited is a Gujarat-based renewable energy company incorporated in 2012, focused on producing Bio Natural CNG (Compressed Natural Gas) from organic waste and agricultural biomass. The company is located at Block No. 806, Account No. 464, TA Umreth, Sundalpura, Gujarat 388210 — in the Anand district of central Gujarat, an agricultural region providing access to crop residues and organic waste feedstock. The company's primary business involves anaerobic digestion of organic matter to produce biogas, which is then purified and compressed into Bio-CNG (also known as Compressed Biogas or CBG). A secondary output is Liquid Organic Manure (LOM), a byproduct of the digestion process with value as an organic fertiliser. This circular economy model converts agricultural waste into clean fuel and organic fertiliser, addressing both energy and agricultural needs. Bharat Bio Gas Energy operates under NIC code 4010 (Production, collection and distribution of electricity), though its actual production is compressed biogas rather than electricity. The company is registered with the Registrar of Companies, Ahmedabad, and has directors Prasanna Pandurang Dhotre, Bharat Jayantilal Patel, Shah Niraj Mahendra, and Sanyal Desai. India's Bio-CNG/CBG sector has received significant government policy support through the SATAT (Sustainable Alternative Towards Affordable Transportation) scheme launched in 2018 by the Ministry of Petroleum. Under SATAT, oil marketing companies (IOCL, BPCL, HPCL) are mandated to procure CBG from producers at government-administered prices, providing revenue visibility for producers. Over 5,000 CBG plants are targeted under this scheme, and Gujarat with its large agricultural base is a key state for CBG production. Bharat Bio Gas Energy's positioning in Gujarat's agricultural heartland places it well to benefit from this policy thrust. The company filed its balance sheet for FY2023 per MCA records, confirming continued regulatory compliance. However, specific revenue figures are not prominently disclosed in public databases.
Key Milestones
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Carbon credit market development enabling additional revenue for biogas producers
Industry Tailwinds
Government of India's SATAT scheme providing guaranteed CBG offtake at fixed prices to oil marketing companies
National Bioenergy Programme Phase 2 offering capital subsidies for biogas plant development
Rising organic waste generation from India's growing food processing, dairy, and agriculture sectors
India's net-zero commitments requiring rapid scaling of bioenergy
Carbon credit market development enabling additional revenue for biogas producers
Industry Headwinds
Feedstock supply chain challenges in rural Gujarat
Capital intensity and long payback periods
Competition from larger well-capitalised biogas developers
Policy risk if SATAT pricing or subsidies are revised
Limited public financial disclosure — scale of operations not independently verifiable
Source: Media Reports / Public Records
Biogas plant operations require consistent feedstock supply and complex management
Source: AlphaHub Research
CRISIL rating of ACUITE D — sub-investment grade; indicates elevated credit risk
Source: CRISIL
Consistent availability and quality of organic waste feedstock is critical for biogas plant operations. Seasonal variations in agricultural waste or supply chain disruptions can impact production.
Biogas technology requires skilled operations and maintenance. Plant downtime, biogas leaks, or digester failures can significantly impact production and revenue.
Biogas operations are subject to pollution control board approvals and renewable energy regulations. Policy changes regarding SATAT pricing or scheme discontinuation could affect revenue predictability.
Biogas plants are capital intensive to build and maintain. Access to financing and working capital for feedstock procurement is critical for small operators.
India's biogas sector is attracting larger players including IEX-listed companies and global operators. Increased competition may compress margins for smaller operators.
As an unlisted company with limited public disclosures, financial health and operational performance are difficult to independently verify.
ADANIGREEN · ~1,50,000 Cr
IOC · ~1,75,000 Cr
Unlisted
MGL · ~9,000 Cr
2012 — Incorporated as Bharat Bio Gas Energy Limited in Gujarat (CIN: U40107GJ2012PLC069626)
2012–2016 — Initial plant development and technology implementation phase for biogas operations in Gujarat
2018 — Government of India launched the SATAT scheme providing guaranteed offtake for Compressed Bio-Gas, creating a significant market opportunity for biogas producers
2020–2022 — India's National Bioenergy Programme 2.0 allocated significant funding for biogas development
Present — Company continues biogas operations from Sundalpura, Gujarat as part of India's renewable energy ecosystem
