Nexxus Petro Industries is a specialised Indian manufacturer and importer of bitumen - the oil-based binder that holds asphalt together in roads, highways, and runways - founded in 2016 by two brothers with deep experience in construction and trade, and listed on the BSE SME platform in October 2024. The company’s recurring approach is to position itself at the intersection of imported raw material and domestic processing, using port-side manufacturing and in-house logistics to turn a commodity into a certified, ready-to-lay product for government contractors and road authorities. Every part of the business - from the choice of factory locations to the pursuit of niche, higher-margin modified binders - follows the same logic: own the steps between the ship and the construction site that competitors would rather outsource. # Business segments A single integrated business - importing, processing, and delivering bitumen and specialised binders - where the manufacturing plants, quality labs, and delivery fleet all serve the same customer base of road contractors and government agencies. ## 1. Bitumen products: a full-range binder platform for India’s roads **The company makes and sells every grade of bitumen a road project needs - from standard paving grades to high-margin polymer-modified binders - and delivers it hot and certified to the construction site.** - **Five product families under one roof** - the portfolio spans Viscosity Grade bitumen (VG-10, VG-30, VG-40 for national and state highways), Penetration Grade (60/70 and 80/100 for waterproofing and legacy specifications), Bitumen Emulsions (RS1, RS2, SS1, SS2 for rural roads and cold-mix patching), Polymer Modified Bitumen or PMB (mandated by NHAI for expressways and flyovers), and Crumb Rubber Modified Bitumen or CRMB (for government-mandated sustainable stretches), so the company can supply an entire road corridor from a single source. - **Value-added products earn two to three times the margin** - PMB and CRMB command 2-3x the margin of standard bitumen grades, and only players with processing capability can compete in these segments, which is why the company has been expanding into them; currently about 15% of revenue comes from these higher-margin products. - **Every batch is certified before it leaves** - the company operates NABL-accredited laboratories at its plants, and its test certificates are accepted by government agencies without re-testing, which is essential for empanelment with state PWDs and for supplying NHAI contractors. - **Hot delivery, own fleet** - bitumen must be kept at 120-160°C during transport, so the company owns 36 commercial vehicles for last-mile delivery and supplements them with a third-party heated tanker network, giving it control over temperature and timing right to the paver. - **Imported and domestic raw material, optimised daily** - raw bitumen is sourced via direct imports from Dubai through Mundra Port and from domestic suppliers, with the mix shifted based on crude price arbitrage and quality requirements, so the company is not locked into a single supply channel. ## 2. Manufacturing and logistics infrastructure: three plants placed where the material flows **The company’s three factories sit at a port, a state-market hub, and a central-India crossroads - each chosen to cut procurement cost or shorten delivery distance.** - **Mundra: the import gateway** - the primary hub in Gujarat sits adjacent to Adani Ports, one of India’s largest private ports, giving it direct import access from Dubai for the lowest-cost, fastest-turnaround procurement; it produces all VG and Penetration grades plus Bitumen Emulsion at 150 metric tonnes per day, while a separate R&D facility in Mundra handles PMB and CRMB formulation. - **Pali: the largest plant, full range** - the Rajasthan facility is the biggest of the three at 300 metric tonnes per day and makes the full product range including PMB and CRMB; it sits close to major road construction corridors in a state where the company is already an authorised PWD supplier. - **Bhopal: the central-India distribution hub** - this 100-metric-tonne-per-day plant produces all VG grades and borders five states (Gujarat, Rajasthan, Maharashtra, Chhattisgarh, and Uttar Pradesh), functioning as a distribution point that shortens delivery runs to multiple neighbouring state markets. - **Processing capability is the competitive filter** - the plants are fully automated and computerised, with modern machinery, material-handling systems, and in-plant quality control labs that provide constant supervision of production; this processing capability is what separates the company from pure traders who cannot compete in the PMB and CRMB segments. ## 3. KrishiBind™ bio-bitumen: a licence on the import-substitution frontier **The company holds one of only 15 licences in India for a bio-binder made from agricultural waste - a technology that could replace imported crude-oil-based bitumen, though it remains at the licence stage.** - **A rare licence with government backing** - the CSIR-CRRI and CSIR-IIP certified licence (valid until January 2031) covers KrishiBind™ Bio-Bitumen technology, a bio-binder derived from agricultural biomass; Nexxus is among only 15 companies in India to hold it, positioning the company for India’s stated agenda of substituting bitumen imports. - **India imports over half its bitumen** - the country consumes about 1.1 crore tonnes of bitumen annually and imports roughly 54% of it (0.6 crore tonnes), all of it crude-oil-derived, so a domestically produced bio-binder addresses a strategic supply vulnerability. - **Still pre-revenue, but the policy direction is set** - as of March 2026 the technology is at the licence stage, not yet in production; however, the Union Minister for Road Transport has publicly stated that a blend of 30% bio-bitumen, 16% rubber powder, and 7% waste plastic could eliminate India’s import dependence entirely, giving the licence a clear policy tailwind. # Group structure and partners **The company is a standalone listed entity with no subsidiaries or joint ventures, but it relies on related-party arrangements for factory premises, fuel oil supply, job-work processing, and transport.** - The company has no subsidiary, joint venture, or associate companies as of March 31, 2025. - Parito Industries LLP, a related party, manufactures fuel oil - an essential input for bitumen manufacturing - creating a linked supply arrangement. - Nextg Petrochem LLP provides job-work services for bitumen manufacturing, and the company uses its premises to conduct business. - Vimoson Logistics, another related party, provides transportation services for finished goods. - The registered office operates from premises owned by Mr. Jignesh Senghani, and the Mundra factory land is owned by Mr. Mohanlal Senghani - both related parties - meaning key operational assets sit outside the listed entity.