Joganiya Energies Ltd
Bhilwara-based maker of slurry and emulsion explosives, PETN and detonating fuse, converted to a public company in 2025 and now dealer-quoted around ₹510.
Market cap
₹95.93 Cr
0.20 Cr shares
P/E ratio
25.25
Sector average 28
Book value
₹105.96
P/B 4.57
1-year return
+0.00%
52w ₹485 – ₹510
Currently 0% of the way through its 52-week range.
Indicative price history
1Y change
+0.00% ₹485 → ₹485
52-week band in this window: ₹484.50 – ₹484.50. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Incorporated 2014 in Bhilwara; converted to a public limited company in 2025.
- FY25 revenue in the ₹50–100 Cr band on 19.8 lakh shares of ₹10.
- Altius quote ₹459 bid / ₹510 ask; market value about ₹101 Cr.
About Joganiya Energies
Joganiya Energies Limited was incorporated on 21 March 2014 in Bhilwara, Rajasthan as Jogniya Explosives Private Limited. The promoter family (the Choudharys) had traded and distributed explosives for years before setting up manufacturing; the company was renamed and converted into a public limited company in 2025 ahead of a wider shareholder base.
It manufactures slurry and emulsion explosives, PETN and detonating fuse, and sells them to mines, quarries and infrastructure contractors through a dealer network across India. Alongside product sales it offers end-to-end blasting services — mining, quarrying, well sinking, pipeline excavation, rock cutting and earthmoving.
Registry summaries put FY25 revenue in the ₹50–100 Cr band on a paid-up capital of ₹1.98 Cr (19.8 lakh shares of ₹10). The line items below are estimates built around that band with a mid-single-digit net margin; at ₹510 the equity is valued at about ₹101 Cr.
Figures preliminary; verify from MCA filings. Financial line items on this page are reconstructed from registry ranges and dealer summaries, not from the audited accounts.
Where the revenue comes from
- Explosives & accessories70%
Slurry and emulsion explosives, PETN, detonating fuse sold through dealers
- Blasting & excavation services30%
Mining, quarrying, pipeline and rock-cutting contracts
Products & services
Slurry & emulsion explosives
Bulk and cartridged explosives for mining and quarrying.
PETN & detonating fuse
Initiating systems and accessories manufactured at the Bhilwara unit.
Blasting services
Turnkey blasting for mines, quarries, well sinking and pipeline excavation.
What works
- • Licensed explosives manufacturing is a regulated, hard-to-enter business with a captive demand base in Rajasthan's mining belt.
- • Integrated model — manufacturing, dealer distribution and blasting services — spreads revenue across products and contracts.
- • Small share count (19.8 lakh shares) means any earnings growth shows up quickly in per-share numbers.
What to watch
- • Audited revenue, profit and net worth are not public; every figure on this page is an estimate until the FY25 AOC-4 is read.
- • Explosives licensing, storage and transport rules (PESO) carry regulatory and accident risk for a single-location manufacturer.
- • Very thin float and a newly converted public company: exits depend on a handful of dealers and the spread is wide (₹459 bid / ₹510 ask).
- • Customer concentration in mining and quarrying ties revenue to commodity and infrastructure cycles.
Compare with peers
| Company | Price | Market cap | P/E | P/B | Rev CAGR |
|---|---|---|---|---|---|
| Joganiya EnergiesThis page | ₹484.50 | ₹95.93 Cr | 25.25 | 4.57 | +26.49% |
| Credo Advanced Chemicals | ₹42.00 | ₹315 Cr | 33.07 | 1.70 | +10.94% |
Latest reported year: FY25 ending 31 Mar 2025.