Raj Oil Mills is a survivor - an edible-oil company that has been in Indian kitchens since 1943, was pulled out of insolvency in 2018 by new promoters, and has since rebuilt itself around a simple idea: put steady investment behind trusted brands, expand the processing plant, and push deeper into both retail and bulk channels. Its flagship “Guinea” brand carries the legacy, but the recurring approach that explains everything else is a deliberate shift toward filtered and cold-pressed oils for growth, a widening portfolio of category-specific brands, and a recent move into commodity trading that stretches the same sourcing and distribution muscle.
Business segments
Two engines at different stages - a legacy edible-oil platform with a multi-brand portfolio and national distribution, and a young commodity-trading line that extends the same agro-commodity footprint.
1. Edible oils and agro-processing: the kitchen-brand engine
A single integrated plant in Palghar crushes, refines, filters, cold-presses and packs a dozen oil varieties sold under half-a-dozen brands - filtered oils now lead the growth push while the flagship “Guinea” brand anchors trust.
- One roof, every process - the Manor facility handles oilseed crushing, refining, filtration, cold-pressing, packaging and warehousing, so the company controls quality from raw seed to finished bottle.
- A brand for every oil and every wallet - Guinea is the mass-trust umbrella, while Cocoraj (coconut), Tilraj (sesame), Mustraj (mustard), Soyaraj (soybean), Palmraj (palm) and the mass-market mustard brand Khilona each target a specific oil type or price tier, with a cold-pressed groundnut oil added in FY26.
- General trade still calls the shots - kirana stores and regional wholesalers deliver the large majority of sales, supplemented by modern retail chains such as D Mart and Jio Mart, e-commerce platforms including Amazon and quick-commerce apps like Swiggy Instamart, and institutional buyers in hotels, restaurants and catering.
- Job-work extends the plant’s reach - a contract with a mustard-oil manufacturer in Rajasthan commits the company to buy 100-300 metric tonnes a month of “Mustraj” production that cannot be sold to anyone else, effectively adding capacity without owning it.
- Price risk is the daily battle - base oils are sourced globally through long-term contracts and spot purchases, and the company tries to cushion the impact of commodity-price swings on raw materials and finished goods.
2. Commodity trading: the new agro-commodity leg
Launched in March 2025, this line trades pulses, food grains, sugar and spices - it broadens the company’s agro-commodity footprint using the same sourcing and market intelligence that feeds the oil business.
- A bolt-on, not a pivot - the trading desk sits alongside the core edible-oil engine and was formally commenced on 29 March 2025, with investment scaled to market conditions.
- Same commodity logic, different goods - the company already manages global procurement, price hedging and bulk-supply relationships for edible oils; extending that capability to pulses, grains, sugar and spices is a natural adjacency.
Group structure and partners
A listed standalone company with no subsidiaries or joint ventures - the promoter group is reshaping its shareholding while the company raises fresh capital from non-promoter investors.
- No corporate children - Raj Oil Mills has no subsidiaries, associates or joint ventures, so all operations run through the single listed entity.
- Promoters are rearranging the deck - an inter-se transfer among the promoter group would move 27.47% of the equity from Rubberwala Housing Infrastructure to individual members of the Shaikh family, cutting Rubberwala’s stake to 10%.
- Fresh money from outside - in May 2026 the board approved a preferential issue of up to 10 lakh equity shares and 10 lakh warrants to seven non-promoter investors, aiming to raise up to Rs 9.2 crore, with warrants exercisable within 18 months.