Ecoboard Industries is a company built on a single, stubborn idea: that agricultural waste - the stalks and fibres left after harvest - can replace wood, cement, and even steel in the buildings around us, while also generating clean fuel. Founded in 1991 in rural Maharashtra, it has spent over three decades refining a process that turns bagasse, cotton stalk, and other crop residue into engineered panels called Ecoboard®, capturing carbon rather than emitting it. The recurring approach is to take a raw material that is otherwise burned or discarded, apply proprietary chemistry and imported German machinery, and sell the output into two distinct markets - construction materials and bio-energy plants - under a single brand, EcoYou. # Business segments Two engines at different stages - a particle-board factory fighting for scale, and a biogas plant-building business that turns distillery waste into fuel - both fed by the same agricultural supply chain and the same core know-how in transforming waste. ## 1. EcoBuild: the particle-board factory that substitutes wood and cement **A single 40-acre plant in Solapur presses agro-fibre into carbon-negative panels that replace plywood, gypsum, and steel across everything from cold rooms to film sets - but the factory has historically run at a fraction of its capacity.** - **Made from crop waste, not trees** - the raw material is bagasse (sugarcane waste), cotton stalk, and fibres from bajra, tur, and corn, sourced directly from farmers and agro-factories, which means the business creates rural income while avoiding the deforestation associated with plywood. - **German machines, Indian residue** - the Velapur plant runs on automated presses and laminating lines imported from Pagnoni, Dieffenbacher, and Homag, blending the agro-fibre with a proprietary resin, then pressing and finishing it into boards that are fire-retardant, termite-resistant, and moisture-resistant. - **One product, dozens of identities** - the same Ecoboard® core gets cut, laminated, and branded for wildly different end uses: EcoFreeze for cold rooms, EcoRak for warehouse shelving that replaces steel, EcoDek for load-bearing mezzanine ceilings, and even EcoTemple for building temples. - **Capacity exists, utilisation doesn't** - the plant can produce 36 lakh square metres of board a year, enough to support a turnover of roughly Rs. 50 crores, but actual output has hovered around a fifth of that because bagasse landing costs are high, working capital is tight, and the existing 13.5-foot production line is old and inefficient. - **A new line to reset the economics** - a fresh 8-foot-by-4-foot production line began commercial output in August 2025, and the old line is slated for replacement with a 9-foot-by-6-foot version, moves aimed at cutting power consumption by at least a quarter and reducing raw-material waste. ## 2. EcoEnergy: the biogas plant builder that turns toxic effluent into fuel **This division designs and installs waste-to-energy plants for distilleries and dairies, using Swiss-assisted CSTR technology to convert spent wash and effluent into bio-CNG - it is a project-based, order-book business rather than a continuous manufacturer.** - **Turnkey plant builder, not a product seller** - EcoEnergy operates as a manufacturer and consultant for complete biogas recovery and effluent treatment systems, supplying everything from design to commissioning, or just parts and process know-how depending on the contract. - **Swiss technology for Indian waste** - the core anaerobic digestion process uses Continuous Stirred Tank Reactor (CSTR) technology developed with technical assistance from Sulzer Chemtech of Switzerland, a method the company's Managing Director pioneered for industrial waste and that has since become standard across the sugar industry. - **Distilleries are the traditional customer** - the plants treat spent wash, a toxic distillery by-product, transforming it into bio-CNG fuel, which aligns with government mandates promoting biogas from waste and gives mill owners a way to turn a disposal problem into an energy asset. - **Orders come in lumps** - recent contracts illustrate the project-based rhythm: a Rs. 22.5 crore CBG plant for Kaligiri Renewable Energy using the Sulzer-based wet CSTR design, and a Rs. 4.4 crore pressmud digestor for Athani Sugars with a German RUCKERT design, to be delivered before October 2025. - **Dairy is a newer frontier** - at Gokul Dairy, an EcoEnergy installation now treats 360 cubic metres of effluent daily, cuts the pollutant load by half, produces 4,500 cubic metres of biogas to replace coal and bagasse in boilers, and recycles water back into the fermenter, all commissioned in under six months. # Group structure and partners **A standalone listed company with no subsidiaries, operating from a single factory and a Pune headquarters, financed by a mix of promoter equity, land sales, and fresh bank debt.** - **No corporate web** - Ecoboard Industries has no subsidiary or joint venture; it is a single entity listed on the BSE, with its registered office in Pune and its sole manufacturing base at Velapur in Solapur district. - **Land sales have funded the turnaround** - the company has sold over 28 acres of its non-core land at Velapur, much of it to related parties like Supra Investments and Western Bio Systems, using the proceeds to repay inter-corporate deposits and operational dues without disrupting production. - **Technical partners, not equity partners** - the key external relationships are technology licences and collaborations: Sulzer Chemtech for the biogas division's wastewater treatment know-how, and a cluster of German machinery makers - Pagnoni, Dieffenbacher, VITS, Homag - for the panel production line.