KN Agri Resources is a family-built processor that turns soybeans into edible oil, animal feed and branded kitchen staples - a business that started in 1987 as a small oil mill in Madhya Pradesh and grew into one of India’s top five oilseed crushers by staying close to the farms that grow its raw material. The recurring approach is simple: own the processing plant, buy the crop at the factory gate in soybean country, and sell every part of the bean - oil, meal, husk and lecithin - so nothing is wasted. # Business segments Two engines at different stages - a soybean-processing cash generator that sells both unbranded bulk and branded bottles, and a bio-energy bet under construction through a joint-venture sugar-and-ethanol plant. ## 1. Agri commodities: crushing soybeans into oil, feed and branded food **The company runs three solvent-extraction plants in the heart of India’s soybean belt, turning the whole bean into refined oil, high-protein animal feed and lecithin - and sells the oil under its own brand through 125 dealers.** - **Plants sit where the crop grows** - all three manufacturing units are in Madhya Pradesh, a state that produces large volumes of soyabean seeds, which cuts transport time and procurement cost for the company’s main raw material. - **The whole bean gets used** - solvent extraction separates crude oil from de-oiled cake (soya meal); the oil is then refined, while the meal becomes high-protein feed for poultry and livestock. The plants also produce soya lecithin (an emulsifier used in food and pharmaceuticals), acid oil, soya husk, soya grits, soya flakes and soya flour. - **Branded bottles reach the kitchen** - refined soybean oil is sold under the company’s own labels, Khanpan and Classic, through a network of 125 dedicated dealers across Madhya Pradesh, Chhattisgarh and Odisha. - **Big industrial buyers take the rest** - the company also supplies bulk oil and meal to large players such as Adani Wilmar, ITC, Cargill and Bunge, and exports part of its output; in FY23, foreign-exchange earnings were Rs. 277.86 Crores. - **Scale that ranks among the top five** - cumulative solvent-extraction capacity is 3,75,000 tonnes per year, edible-oil refining capacity is 60,000 tonnes per year, and a roller flour mill adds another 24,000 tonnes per year of wheat-processing capacity. ## 2. Bio-energy and ethanol: a sugar-and-ethanol plant in the making **Through a newly formed 51%-owned subsidiary, the company is acquiring a large sugarcane-crushing and multi-feed ethanol unit - a bet on India’s ethanol-blending programme.** - **A joint-venture entry into sugar and ethanol** - Sharaad KN Bio-Organics Private Limited was incorporated in January 2025 with KN Agri holding a 51% stake, and it proposes to acquire an existing unit that can crush 3,000 tonnes of sugarcane per day and produce 300 kilolitres of ethanol per day from cane juice and grains. - **A smaller ethanol stake already exists** - the company holds a 26% interest in a molasses-based ethanol plant in Nashik with 120 kilolitres per day of capacity, which supplies Oil Marketing Companies under the government’s ethanol-blending mandate. A part of this investment was sold to a promoter-owned entity in September 2025. - **The play is policy-linked** - India’s ethanol-blending programme creates a guaranteed offtake route through state-owned oil companies, and the multi-feed design (cane juice plus grains) gives the plant flexibility to run beyond the sugarcane crushing season. # Group structure and partners **The company is a promoter-led, main-board-listed processor with two new subsidiaries, two associate investments, and working-capital lines from nine banks.** - **Main-board listing after an SME start** - KN Agri listed on the NSE SME Emerge platform in March 2022 and migrated its 2.5 crore equity shares to the NSE Main Board in December 2025. - **Two subsidiaries, one still dormant** - KN Retail Private Limited, a 100% subsidiary incorporated in June 2024 for trading, had not commenced operations by March 2025; Sharaad KN Bio-Organics Private Limited, the 51% bio-energy vehicle, was incorporated in January 2025. - **Associate stakes in food infrastructure and clean energy** - the company holds 45% of Raipur Mega Food Park Private Limited and, following a partial sale in September 2025, a reduced stake in Bluebrahma Clean Energy Solutions Private Limited, a molasses-based ethanol producer. - **Nine-bank working-capital consortium** - sanctioned limits total Rs. 290 Crores across RBL Bank, SBI, Yes Bank, HDFC, IDBI, ICICI, Bank of India, Citi Bank and UCO Bank, with no defaults on record.