Pajson Agro India: Post-IPO Scaling New Heights; Eyes 40% Growth Target for FY26

Following its successful debut on the BSE SME platform in December 2025, Pajson Agro India Ltd (PAIL) is entering a transformative phase of industrial scaling. With a robust performance recorded in the first nine months of the fiscal year and a clear roadmap for FY26, the company is solidifying its position as a leading integrated player in India’s cashew processing industry.

Nine-Month Performance & Strategic Milestones

The nine-month period ended December 2025 marked a defining phase for Pajson Agro, led by the successful ₹74.45 crore IPO and a decisive scale-up in operations. During the period, the company’s installed capacity stands doubled from 9,000 MT (FY24) to 18,000 MT through expansion at its Anakapalli facility, strengthening its manufacturing base to support future growth.

From a financial standpoint, revenue for 9M FY26 stood at ₹187.78 crore, reflecting strong demand and execution.

B2C Expansion: The "Royal Mewa" brand saw its revenue from white-label branding grow nearly fivefold in just six months, reflecting rapid consumer acceptance.

FY26 Outlook: Target 30–40% Growth

As the company moves toward the full-year mark in March 2026, management expects to deliver a strong growth of 30–40% over FY25. This surge is fuelled by the recent capacity expansion at the existing Anakapalli plant, which has significantly improved processing efficiency and allowed the company to meet rising demand from its 71-strong distributor network.

The Road Ahead: A Long-Term Growth Engine

The deployment of IPO proceeds is already underway, with a primary focus on establishing a second, massive processing facility in Vizianagaram, Andhra Pradesh. Strategic Execution: Contracts for major project components have been negotiated, ensuring a swift transition to the construction phase.

Capacity Leap: The new facility is slated for trial runs by late 2026, with commercial production expected in Q4 of FY27. This plant is designed to eventually bring the company’s total annual capacity to 53,000 MT. The management anticipates a 10–15% growth in volumes processed from current Anakapalli plant during FY27.

Diversified Growth: The core processing business continues to remain the dominant driver, with a clear strategic focus on expanding institutional customers and strengthening the B2B segment. Meanwhile, the B2C segment recorded strong traction, growing threefold in FY26.

With an expanding geographic footprint across India and supportive government policies, Pajson Agro is well positioned to evolve from a regional processor into a national agro-industrial player. Rising domestic demand and a structurally strong cashew market further reinforce the Company’s long-term growth outlook.