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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2023)
Investment Thesis
Chemenergy Biofuels Private Limited is a young Haryana-based biofuel company riding India's strong ethanol blending policy wave. While the sector outlook is positive with government-mandated demand, the company's early stage, limited public disclosures, and feedstock risk require careful due diligence. Investors seeking biofuel sector exposure should evaluate the company's plant capacity, OMC supply agreements, and management track record.
Pros
Cons
Business Segments
Ethanol Production
Production of fuel-grade ethanol for blending with petrol under India's Ethanol Blending Programme
Biodiesel / Biofuel Products
Processing and supply of biodiesel and other biofuel products for industrial and transportation use
Revenue Model
Chemenergy Biofuels generates revenue by producing and supplying biofuels — primarily ethanol — to oil marketing companies (OMCs) like Indian Oil, BPCL, and HPCL under India's Ethanol Blending Programme. Revenue is tied to government-set procurement prices for ethanol and volumes supplied under OMC tenders.
Detailed Analysis
Growth Plans
India's E20 ethanol blending mandate creating sustained captive demand
CCEA-set ethanol procurement prices providing revenue predictability
Expansion of feedstock supply through Haryana's agricultural produce
Future biodiesel blending mandates opening additional revenue streams
Industry Tailwinds
Recent Developments
India achieved over 15% ethanol blending in petrol in FY2024, well ahead of earlier targets. This created strong demand for ethanol from domestic producers including companies like Chemenergy Biofuels.
2024-03India's Cabinet Committee on Economic Affairs (CCEA) periodically revises ethanol procurement prices upward, improving economics for biofuel producers.
2023-09Comparable Companies
PRAJIND · ~8,000 Cr
Frequently Asked Questions
About Chemenergy Biofuels
Chemenergy Biofuels Private Limited is a Ambala, Haryana-based biofuel manufacturer incorporated on 17 December 2019 (CIN: U24290HR2019PTC084192). The company is engaged in the manufacture, export, and trading of biofuels including biodiesel, refined glycerine, and compressed biogas (CBG) — positioning it at the intersection of India's clean energy and agricultural waste utilisation agendas. Founded in 2019 and growing with exceptional speed, Chemenergy reported revenues of ₹92 crore in FY2023 — with a 535% CAGR in the most recent year, indicating explosive growth from a low base as capacity came online. The company has an authorized capital of ₹30 crore and paid-up capital of ₹12.57 crore, suggesting meaningful equity investment to support its biofuel production infrastructure. India's biofuel sector is a government priority under the National Policy on Biofuels (2018, amended 2022), with ambitious targets for biodiesel blending with diesel and biogas substitution for natural gas. The government's Sustainable Alternative Towards Affordable Transportation (SATAT) scheme has particularly incentivised compressed biogas (CBG) production, with a target of 5,000 CBG plants by 2025. Biodiesel is produced by transesterification of vegetable oils or used cooking oils, with refined glycerine as a valuable co-product. Chemenergy's Ambala location in Haryana's agricultural belt provides access to feedstocks for biofuel production — agricultural residues, oilseed crops, and potentially used cooking oil from food processing industries. The company's product portfolio spanning biodiesel, glycerine, and CBG indicates a diversified bioenergy approach that can participate in multiple government incentive schemes and end-use markets.
Key Milestones
Incorporated in 2019 in Haryana under CIN U24290HR2019PTC084192
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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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India's E20 ethanol blending mandate creating sustained captive demand
CCEA-set ethanol procurement prices providing revenue predictability
Expansion of feedstock supply through Haryana's agricultural produce
Future biodiesel blending mandates opening additional revenue streams
Industry Headwinds
Monsoon failure reducing feedstock availability and increasing input costs
Policy reversal or reduction in blending mandates
Overcapacity in ethanol sector reducing spot prices
Recently incorporated (2019) — limited long-term track record
Source: Media Reports / Public Records
535% CAGR reflects capacity ramp-up from near-zero base — normalised growth rate will be much lower
Source: Media Reports / Public Records
Biofuel production costs are heavily influenced by feedstock (sugarcane, grains, biomass) prices, which are subject to monsoon-driven agricultural supply variability.
Revenue depends largely on government-mandated blending targets and OMC procurement prices. Any policy reversal or subsidy cut would significantly impact business viability.
Faces competition from large sugar mills with integrated ethanol capacity, PSU refineries, and well-capitalised renewable energy companies.
As a company incorporated in 2019, it has limited operational track record and may face scale and capital challenges.
Biofuel production, particularly ethanol from grain or sugarcane, is water-intensive and subject to environmental and pollution control regulations.
BALRAMCHIN · ~8,000 Cr
IOC · ~2,00,000 Cr
Entered India's biofuels sector during a period of rapidly growing government support for ethanol blending
Established operations in Ambala, Haryana, a region with access to agricultural feedstock supply chains
Operating during India's scale-up to 20% ethanol blending mandate (E20) target