CIAN Agro Industries & Infrastructure Ltd. is a conglomerate built by buying distressed industrial assets through India’s insolvency courts and folding them into one house - it began in 1985 as an agro-processing company named Umred Agro Complex, renamed itself CIAN in 2015, and has since transformed through a string of IBC (Insolvency and Bankruptcy Code) acquisitions spanning aluminium, thermal power, sugar, ethanol, real estate and healthcare. The recurring approach is to acquire companies at values below their fair and liquidation values, then integrate them to expand the group’s manufacturing and infrastructure footprint - a pattern that explains how an edible-oil trader came to own a 270 MW coal power plant, a sugar-and-ethanol complex, and an aluminium foundry. # Business segments Five engines at different stages - an edible-oil trading and FMCG original, a healthcare platform scaling through government partnerships, an aluminium-and-power infrastructure backbone assembled from insolvency buys, and an integrated sugar-to-ethanol complex under a step-down subsidiary - each built with the cash flows of the one before. ## 1. Agro Division: the original trading house that still moves edible oil and spices **The company consciously avoids running its own oil refinery to sidestep commodity-price risk, earning its keep by trading, crushing and packing edible oils and spices instead.** - **Trader, not refiner** - the division buys crude and soyabean oil from both domestic and imported sources and sells refined edible oils and spices in consumer packs, deliberately staying away from refinery operations because of the high risk of price swings in crude and soyabean oil. - **Branded reach across Central India** - it sells under its own brand names through a distribution network that covers the entire Central India region, with FMCG products (edible oil and spices in consumer packs) historically making up over 90% of the company’s standalone sales. - **Mustard and soyabean crushing add value** - the division runs a solvent extraction plant and vegetable oil refinery at Kolan Road in Chandrapur, Maharashtra, and has expanded mustard-cake crushing to produce refined mustard oil, mustard de-oiled cake and hi-pro de-oiled soyabean cake. - **Packaging capacity expanded through a partner** - in December 2024 the company struck a strategic partnership for an additional packaging facility nearby, using the regional firm’s modernised lines to lift packaging capacity, improve logistics and serve rising domestic and export demand. - **Mango pulp on the side** - it manufactures Alphonso mango pulp under a job-work arrangement with a co-operative in Sindhudurg district, delivering 250,000 tins (500 metric tonnes) of Alphonso mango in FY23. ## 2. Healthcare Division: a home-care brand that is pivoting into medical supply **What started as an in-house R&D effort to make bio-detergents and handwash is now winning export orders and government healthcare contracts.** - **Built on sugar-based surfactants** - the division developed its own sugar-polymer-based surfactant and has applied for a patent on it; that ingredient is the foundation of the “Neu” bio-detergent range and the eco-friendly home-care products it now exports. - **Capacity scaled sixteen-fold** - the bio-detergent manufacturing facility at Dhapewada in Nagpur was expanded from 5 metric tonnes per day to 80 metric tonnes per day, giving it the headroom to chase larger orders. - **Export orders validate the R&D** - in December 2024 it received a prestigious export order from the UAE for its eco-friendly, sugar-based health and personal care products, and in October 2025 it executed a pharmaceutical shipment to Ethiopia under the UAE Aid Program through a partner. - **Medical-device partnership with AMTZ** - in November 2025 it signed an MoU with Andhra Pradesh Medtech Zone (India’s first integrated medical-device manufacturing zone, hosting over 165 facilities), authorising CIAN to represent it for medical equipment, consumables and services - quoting, supplying, installing and providing after-sales support - to government and private buyers both domestically and overseas. - **Pathology services pilot** - it has an agreement with CSC Healthcare & Wellness Services to provide pathology investigation services through its Telangana laboratory under a construction-worker health-screening initiative. ## 3. Infrastructure Division: aluminium, power and real estate bought through the insolvency code **The division is a collection of manufacturing and infrastructure assets - aluminium alloy ingots, die-casting, a 270 MW thermal power plant, and a real-estate arm - almost all acquired through the IBC process at distressed valuations.** - **Full aluminium value chain** - the division takes aluminium from rolling through to alloy ingots, sheets, LM-6, LM-25, AC4B and ALSi-52 grades, and also does steel forging and high-pressure die casting; its Ratnagiri plant (acquired via IBC) sits on 15 acres and has monthly capacities of 1,200 MT of aluminium alloy ingots, 200 MT of copper ingots, 500 MT of forging and machining, and 500 MT of pressure die-casting. - **Empanelled with defence buyers** - it is an approved vendor of the Defence Research and Development Organisation (DRDO) and the Naval Materials Research Laboratory, and supplies 300 MT per month of aluminium alloy ingots to Sundaram Clayton (a TVS Group company), which has given it a 100% quality-satisfaction rating each month. - **270 MW of thermal power** - the step-down subsidiary Ideal Energy Projects operates a 1×270 MW coal-based thermal power plant near Village Bela in Nagpur district, acquired through the IBC process after the plant went through corporate insolvency resolution in 2020. - **Real estate and contracting bolt-ons** - the division acquired Swapnil Promoters and Developers (a residential real-estate company) through the IBC in July 2024, and in November 2025 bought Vyankatesh Engineers & Contractors, a turnkey civil, electrical and mechanical engineering firm. - **Hand-tools plant added in 2026** - in March 2026 the NCLT approved CIAN’s resolution plan for Shubhada Tool Industries, a manufacturer of spanners, pliers, pipe wrenches and angle handles with a plant capacity of 300 MT per month. ## 4. Sugar, Power, Distillery & Ethanol: the integrated complex under Manas Agro **This step-down subsidiary runs a tightly coupled sugar-manufacturing, power-generation, distillery and ethanol operation, with LPG trading on the side.** - **Acquired through a chain of holding companies** - Manas Agro Industries & Infrastructure Ltd (MAIIL) became a step-down subsidiary in September 2024 when CIAN bought Avenzer Electricals & Infrastructure, which already held a 90.29% controlling stake in MAIIL. - **Sugar, ethanol and power under one roof** - MAIIL manufactures sugar, generates power, runs a distillery, produces ethanol and trades in E-10 and LPG; its turnover was Rs. 83,115 lakhs in FY24 and Rs. 94,337 lakhs in FY25. - **Distribution arm added** - in August 2025 CIAN acquired Sec-One Sales & Marketing, a company that trades and distributes sugar, sugarcane, molasses and jaggery, with a turnover of Rs. 38.99 crore in FY25, to expand distribution reach into rural towns and fast-growing channels. # Group structure and partners **A web of wholly owned and step-down subsidiaries is being collapsed into the listed parent through a Scheme of Amalgamation approved by the board in April 2026.** - The company’s direct wholly owned subsidiaries include a Russian trading entity (CIAN Agro Limited LLC), Manas Power Ventures (the SPV that holds the 270 MW power plant), Avenzer Electricals & Infrastructure, Varron Aluminium, Sec-One Sales & Marketing, and Vyankatesh Engineers & Contractors. - Step-down subsidiaries are Ideal Energy Projects (the thermal power plant, held through Manas Power Ventures) and Manas Agro Industries & Infrastructure (the sugar-ethanol complex, held through Avenzer). - In May 2025 the NCLT approved a scheme merging five promoter-group entities - Avinash Fuels, Purti Marketing, Greenedge Constructions, Nagpur Sugars and Purti Contract Farming - into Chaitanya Constructions & Builders, which will then hold a consolidated 66.88% promoter stake in CIAN, making CIAN a subsidiary of Chaitanya. - The April 2026 amalgamation scheme will merge six subsidiaries - Varron Aluminium, Sec-One, Vyankatesh Engineers, Manas Power Ventures, Avenzer Electricals and Manas Agro - directly into CIAN; post-scheme, CIAN’s equity shares will rise from 2.80 crore to 2.81 crore, with MAIIL’s public shareholders receiving 30 CIAN shares for every 100 MAIIL shares they hold. - The company is listed on the BSE and, as of March 2026, the board approved a proposal for a direct listing on the National Stock Exchange without a fresh public offer.