- Category
- Medium (2024-25)
- Udyam number
- UDYAM-MH-29-0049042

About Tbi Corn Limited
Data last updated:
Tbi Corn Limited is a public limited company based in Sangli, Maharashtra, India. It operates in the organic and health foods segment of the food and beverages sector. It was incorporated on 22 June 2022.
The company is registered with the Registrar of Companies (ROC), Pune, under CIN L15400PN2022PLC212368. Its GSTIN is 27AAJCT4818P1ZL (Maharashtra). The company holds 2 GST registrations, all of them active. It is a listed company as per MCA records. Its shares are listed on NSE: TBI.
The company has an authorised share capital of ₹20 Cr and a paid-up capital of ₹18.16 Cr. It is led by directors including Yogesh Laxman Rajhans (Managing Director) and Ninad Anand Yedurkar (Whole-Time Director).
Its last annual general meeting (AGM) was held on 19 September 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at A5/3 & A5/4 MIDC Miraj Tal – Miraj Dist – Sangli, Maharashtra, India – 416410.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹303.68 Cr, a growth of 43.5% compared to the previous year. For the same year it recorded a net profit of ₹18.6 Cr (net margin 6.1%) and EBITDA of ₹34.82 Cr (EBITDA margin 11.5%). The net worth stands at ₹120 Cr (up 18.3% YoY). Total assets are valued at ₹191.38 Cr (up 15% YoY).
The company has about 26 employees on its provident fund (EPFO) records.
The company is associated with 1 brand: TBI Corn. As per MCA filings, the company has open charges of ₹182.34 Cr and satisfied charges of ₹94.18 Cr on record. The company has 3 deals on record (2 funding rounds, 1 ipo), with disclosed funding of ₹26.74 Cr; the latest was in June 2024. Its 5 peer companies in the Food and Beverages industry (Health and Organic Foods), with the same principal business activity (food, beverages and tobacco products) are compared by revenue, 3 larger and 2 smaller; the largest is Bagrrys India Private Limited with revenue of ₹218.99 Cr.
Tbi Corn Limited is registered as a medium enterprise under the Udyam registration framework (Reg. No. UDYAM-MH-29-0049042). The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website tbicorn.com.
Company details
CIN history
Tbi Corn has one previous CIN (Corporate Identification Number): U15400PN2022PLC212368. The current CIN is L15400PN2022PLC212368, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L15400PN2022PLC212368 | Current |
| U15400PN2022PLC212368 | Previous |
Recognitions & Rankings of Tbi Corn
Contact details
Tbi Corn Limited's registered office is in Sangli, Maharashtra.
- Registered AddressA5/3 & A5/4 MIDC Miraj Tal – Miraj Dist – Sangli, Maharashtra, India – 416410
- IndustryFood and Beverages, Organic & Health Foods
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Brands
Tbi Corn operates one associated brand: TBI Corn. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Corn processing services are offered for human and animal consumption. | tbicorn.com |
Business activity
The main business activity of Tbi Corn is manufacturing. In detail, this covers food, beverages and tobacco products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C1 | Food, beverages and tobacco products |
To see the full business activity and turnover split of Tbi Corn Limited, buy the company report.
Financials of Tbi Corn Limited
FY 2025-26 filings availableTbi Corn Limited reported revenue of ₹303.68 Cr (up 43.5% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Income statement | |||
| Revenue | 304 | 212 | 158 |
| Revenue growth | +43.5% | +33.7% | - |
| EBITDA | 34.82 | 23.75 | 17.76 |
| EBITDA margin | +11.5% | +11.2% | +11.2% |
| Profit before tax | 24.69 | 18.29 | 13.58 |
| Net profit | 18.60 | 13.64 | 10.10 |
| Net profit margin | +6.1% | +6.5% | +6.4% |
| EPS (₹) | 10.25 | 7.51 | 7.55 |
| Balance sheet | |||
| Total assets | 191 | 166 | 88.63 |
| Net worth | 120 | 101 | 42.82 |
| Total debt | 71.36 | 64.95 | 45.81 |
| Cash & bank | 19.10 | 0.43 | 0.45 |
| Net working capital | 158 | 143 | 74.84 |
| Cash flow | |||
| Cash from operations | 42.18 | (29.56) | (2.83) |
| Cash from investing | (12.35) | (12.03) | (7.86) |
| Cash from financing | (11.16) | 41.58 | 10.84 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|---|
| Income statement | ||||
| Revenue | 303 | 212 | 158 | 115 |
| Revenue growth | +43.3% | +33.8% | +37.0% | - |
| EBITDA | 34.59 | 23.75 | 17.76 | 10.49 |
| EBITDA margin | +11.4% | +11.2% | +11.2% | +9.1% |
| Profit before tax | 24.44 | 18.29 | 13.58 | 8.51 |
| Net profit | 18.35 | 13.64 | 10.10 | 6.41 |
| Net profit margin | +6.1% | +6.4% | +6.4% | +5.6% |
| EPS (₹) | 10.11 | 7.51 | 7.55 | 14,841.19 |
| Balance sheet | ||||
| Total assets | 189 | 166 | 88.63 | 57.17 |
| Net worth | 120 | 101 | 42.82 | 16.78 |
| Total debt | 69.36 | 64.94 | 45.81 | 40.39 |
| Cash & bank | 18.29 | 0.25 | 0.45 | 0.30 |
| Net working capital | 156 | 143 | 74.84 | 50.44 |
| Cash flow | ||||
| Cash from operations | 33.41 | (29.56) | (2.83) | (16.72) |
| Cash from investing | (12.24) | (12.20) | (7.86) | (7.51) |
| Cash from financing | (3.13) | 41.57 | 10.84 | 24.53 |
Financial Statements
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Revenue | 304 | 212 | 158 |
| Revenue growth | +43.5% | +33.7% | - |
| Other income | 0.96 | 2.11 | 0.96 |
| Total expenses | 269 | 188 | 140 |
| Employee cost | 0.00 | 0.92 | 0.72 |
| EBITDA | 34.82 | 23.75 | 17.76 |
| EBITDA margin | +11.5% | +11.2% | +11.2% |
| Depreciation | 3.07 | 2.18 | 0.81 |
| Interest | 8.02 | 5.39 | 4.33 |
| Profit before tax | 24.69 | 18.29 | 13.58 |
| Tax | 6.09 | 4.65 | 3.48 |
| Net profit | 18.60 | 13.64 | 10.10 |
| Net profit margin | +6.1% | +6.5% | +6.4% |
| EPS (₹) | 10.25 | 7.51 | 7.55 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Equity & liabilities | |||
| Share capital | 18.16 | 18.16 | 13.38 |
| Reserves & surplus | 102 | 83.24 | 29.44 |
| Shareholders' funds (net worth) | 120 | 101 | 42.82 |
| Minority interest | 0.01 | 0.00 | 0.00 |
| Secured loans | 1.94 | 3.11 | 4.46 |
| Unsecured loans | 69.42 | 61.84 | 41.35 |
| Total debt | 71.36 | 64.95 | 45.81 |
| Total liabilities | 191 | 166 | 88.63 |
| Assets | |||
| Gross block | 26.96 | 20.16 | 9.10 |
| Net block | 20.28 | 16.55 | 7.68 |
| Capital work in progress | 12.68 | 7.23 | 6.25 |
| Investments | 0.02 | 0.02 | 0.02 |
| Inventories | 84.46 | 70.33 | 50.87 |
| Sundry debtors | 76.74 | 45.69 | 30.90 |
| Cash & bank balances | 19.10 | 0.43 | 0.45 |
| Loans & advances | 26.91 | 39.96 | 5.54 |
| Total current assets | 207 | 156 | 87.76 |
| Total current liabilities | 48.75 | 13.65 | 12.92 |
| Net working capital | 158 | 143 | 74.84 |
| Total assets | 191 | 166 | 88.63 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Opening cash | 0.43 | 0.45 | 0.30 |
| Net cash from operating activities | 42.18 | (29.56) | (2.83) |
| Net cash from investing activities | (12.35) | (12.03) | (7.86) |
| Net cash from financing activities | (11.16) | 41.58 | 10.84 |
| Net change in cash | 18.67 | (0.02) | 0.15 |
| Closing cash | 19.10 | 0.43 | 0.45 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 |
|---|---|---|---|
| Growth | |||
| Sales growth | +43.5% | +33.7% | - |
| EBITDA growth | +46.6% | +33.7% | - |
| PBT growth | +35.0% | +34.7% | +9997.0% |
| Net income growth | +36.4% | +35.1% | - |
| Profitability & leverage | |||
| Net income margin | +6.1% | +6.5% | +6.4% |
| Return on capital employed | - | +18.6% | +20.2% |
| Return on net worth | - | +18.9% | +23.6% |
| Debt / equity | - | 0.77 | 1.07 |
| Long-term debt / equity | - | 0.10 | 0.20 |
| Interest cover | 25.26 | 24.99 | 25.55 |
| Efficiency & per share | |||
| Fixed asset turnover | - | 14.46 | 17.39 |
| Inventory turnover | - | 3.49 | 3.11 |
| Debtors turnover | - | 5.54 | 5.12 |
| EPS (₹) | 10.25 | 7.51 | 7.55 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 55.84 | 32.01 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|---|
| Revenue | 303 | 212 | 158 | 115 |
| Revenue growth | +43.3% | +33.8% | +37.0% | - |
| Other income | 0.93 | 2.11 | 0.96 | 0.90 |
| Total expenses | 269 | 188 | 140 | 105 |
| Employee cost | 0.00 | 0.92 | 0.72 | 0.41 |
| EBITDA | 34.59 | 23.75 | 17.76 | 10.49 |
| EBITDA margin | +11.4% | +11.2% | +11.2% | +9.1% |
| Depreciation | 3.07 | 2.18 | 0.81 | 0.62 |
| Interest | 8.01 | 5.39 | 4.33 | 2.26 |
| Profit before tax | 24.44 | 18.29 | 13.58 | 8.51 |
| Tax | 6.09 | 4.65 | 3.48 | 2.26 |
| Net profit | 18.35 | 13.64 | 10.10 | 6.41 |
| Net profit margin | +6.1% | +6.4% | +6.4% | +5.6% |
| EPS (₹) | 10.11 | 7.51 | 7.55 | 14,841.19 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|---|
| Equity & liabilities | ||||
| Share capital | 18.16 | 18.16 | 13.38 | 0.01 |
| Reserves & surplus | 102 | 83.24 | 29.44 | 16.77 |
| Shareholders' funds (net worth) | 120 | 101 | 42.82 | 16.78 |
| Secured loans | 1.94 | 3.11 | 4.46 | 11.22 |
| Unsecured loans | 67.42 | 61.83 | 41.35 | 29.17 |
| Total debt | 69.36 | 64.94 | 45.81 | 40.39 |
| Total liabilities | 189 | 166 | 88.63 | 57.17 |
| Assets | ||||
| Gross block | 26.93 | 20.16 | 9.10 | 7.51 |
| Net block | 20.25 | 16.55 | 7.68 | 6.89 |
| Capital work in progress | 12.68 | 7.23 | 6.25 | 0.00 |
| Investments | 0.20 | 0.19 | 0.02 | 0.00 |
| Inventories | 79.16 | 70.33 | 50.87 | 46.49 |
| Sundry debtors | 76.39 | 45.53 | 30.90 | 21.06 |
| Cash & bank balances | 18.29 | 0.25 | 0.45 | 0.30 |
| Loans & advances | 28.86 | 39.95 | 5.54 | 2.28 |
| Total current assets | 203 | 156 | 87.76 | 70.13 |
| Total current liabilities | 46.56 | 13.49 | 12.92 | 19.69 |
| Net working capital | 156 | 143 | 74.84 | 50.44 |
| Total assets | 189 | 166 | 88.63 | 57.17 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|---|
| Opening cash | 0.25 | 0.45 | 0.30 | 0.00 |
| Net cash from operating activities | 33.41 | (29.56) | (2.83) | (16.72) |
| Net cash from investing activities | (12.24) | (12.20) | (7.86) | (7.51) |
| Net cash from financing activities | (3.13) | 41.57 | 10.84 | 24.53 |
| Net change in cash | 18.04 | (0.20) | 0.15 | 0.30 |
| Closing cash | 18.29 | 0.25 | 0.45 | 0.30 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 |
|---|---|---|---|---|
| Growth | ||||
| Sales growth | +43.3% | +33.8% | +37.0% | - |
| EBITDA growth | +45.6% | +33.7% | +69.3% | - |
| PBT growth | +33.6% | +34.7% | +19.7% | +9997.0% |
| Net income growth | +34.5% | +35.1% | +57.6% | - |
| Revenue CAGR (3Y) | +38.0% | - | - | - |
| EBITDA CAGR (3Y) | +48.8% | - | - | - |
| Profitability & leverage | ||||
| Net income margin | +6.1% | +6.4% | +6.4% | +5.4% |
| Return on capital employed | - | +18.6% | +24.6% | +25.1% |
| Return on net worth | - | +18.9% | +33.9% | +49.5% |
| Debt / equity | - | 0.77 | 1.45 | 2.41 |
| Long-term debt / equity | - | 0.10 | 0.38 | 0.83 |
| Interest cover | 25.41 | 24.99 | 25.55 | 22.90 |
| Efficiency & per share | ||||
| Fixed asset turnover | - | 14.47 | 19.05 | 20.50 |
| Inventory turnover | - | 3.49 | 3.25 | 3.31 |
| Debtors turnover | - | 5.53 | 6.09 | 7.31 |
| EPS (₹) | 10.11 | 7.51 | 7.55 | 14,841.19 |
| Dividend per share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 0.00 | 55.84 | 32.01 | 29,965.18 |
To see the full year-wise statements and ratios of Tbi Corn Limited, buy the company report.
Board of directors of Tbi Corn Limited
Tbi Corn has 6 current directors and 1 former director. Current directors are listed first, with their designation and appointment date.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Yogesh Laxman Rajhans Also directs: Revita Starch Private Limited, Agripivot Ventures Private Limited, Tbi Foundation and 4 more | Managing Director | 22 Jun 2022 | 4 Years 4 Months | Current |
| Asha Laxman Rajhans | Director | 22 Jun 2022 | 4 Years 4 Months | Current |
| Sanjay Ashokrao Kadam Also directs: Maratha Entrepreneurs Association Sangli | Director | 13 Sep 2023 | 3 Years 1 Months | Current |
| Atul Babasaheb Patil | Director | 13 Sep 2023 | 3 Years 1 Months | Current |
| Chandrakant Shivaji Mali | Director | 13 Sep 2023 | 3 Years 1 Months | Current |
| Ninad Anand Yedurkar Also directs: Revita Starch Private Limited, Dhar Ventures Private Limited, Prajwalbharat Street Lighting Solutions Private Limited and 3 more | Whole-Time Director | 02 Nov 2023 | 2 Years 11 Months | Current |
Peer comparison
Tbi Corn Limited is compared with the 5 companies closest to it by revenue in the Food and Beverages industry (Health and Organic Foods), with the same principal business activity (food, beverages and tobacco products), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Tbi Corn Limitedthis company | ₹303.68 Cr (FY 2026) | ₹18.6 Cr | 6.1% | 43.5% | Sangli, Maharashtra, India | |
| Bagrrys India Private Limited | ₹218.99 Cr (FY 2025) | 0.0% | Solan, Himachal Pradesh, India | |||
| Payal Dealers Pvt Ltd | ₹218.98 Cr (FY 2025) | 41.0% | Kolkata, West Bengal, India | |||
| Ruparel Foods Private Limited | ₹216.42 Cr (FY 2025) | 38.0% | Mahuva, Gujarat, India | |||
| Svma Soya Foods Private Limited | ₹212.19 Cr (FY 2025) | 2.0% | Dindigul, Tamil Nadu, India | |||
| Orion Health Foods Private Limited | ₹204.49 Cr (FY 2024) | 122.0% | Shillong, Meghalaya, India |
To see the full peer comparison of Tbi Corn Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 30 Sep 2026 | 101403436 | Others | ₹5.69 Cr | Open | |
| 18 Aug 2026 | 101397529 | Others | ₹3.6 Cr | Open | |
| 25 Apr 2025 | 101086319 | Others | ₹30 Cr | Open | |
| 31 Dec 2024 | 101022917 | Others | ₹30 Cr | Open | |
| 29 Sep 2023 | 100826561 | Axis Bank Limited | ₹73.05 Cr | Open |
To see the full charge records of Tbi Corn Limited, buy the company report.
Total charge records: 19 View all charges
Deals & funding
Tbi Corn Limited has 3 deals on record (2 funding rounds, 1 ipo), with disclosed funding of ₹26.74 Cr; the latest was in June 2024.
Deals on record (3 of 3)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jun 2024 | IPO | ₹44.94 Cr | Investors: IPO SME-TBI Corn Limited, Next Orbit Ventures, Persistent Growth Fund- Varsu India Growth Story Scheme 1 |
| Sep 2023 | Funding round | ₹16.2 Cr | Investors: Mittal Portfolios Private Limited , Gjnx Ventures, 2 individuals |
| Mar 2023 | Funding round | ₹10.54 Cr | Investors: Yogesh Laxman Rajhans HUF, 3 individuals |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
No court or tribunal cases involving Tbi Corn Limited are on our record; a case search with case numbers, parties and status is in the company report Buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Tbi Corn Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Tbi Corn has 2 GST registrations: 2 active.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 27AAJCT4818P1ZL | Maharashtra | Active | 02 Aug 2022 |
| 30AAJCT4818P1ZY | Goa | Active | 15 Sep 2022 |
To see the full GST registrations and return filing status of Tbi Corn Limited, buy the company report.
Recent activity
Tbi Corn Limited has 7 board changes on record since 2022: 6 appointments and 1 cessation. The latest: Ninad Anand Yedurkar was appointed as Whole-Time Director on 02 Nov 2023.
33 earlier events are in the company report.
Frequently asked questions
Tbi Corn is an active public limited company based in Sangli, Maharashtra, India. The company works in organic and health foods, within the food and beverages industry. It was incorporated on 22 June 2022 (4+ years old) and is registered under CIN L15400PN2022PLC212368. Listed on NSE: TBI.
Tbi Corn reported revenue of ₹303.68 Cr for FY 2025-26 (up 43.5% YoY) based on consolidated financials.
Tbi Corn has 6 current directors:
- Yogesh Laxman Rajhans - Managing Director
- Ninad Anand Yedurkar - Whole-Time Director
- Asha Laxman Rajhans - Director
- Sanjay Ashokrao Kadam - Director
- Atul Babasaheb Patil - Director
- Chandrakant Shivaji Mali - Director
The latest financial statements of Tbi Corn on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 19 September 2025. Year-wise statements from FY 2023 are in the company report.
The GSTIN of Tbi Corn is 27AAJCT4818P1ZL, registered in Maharashtra. The company has 2 GST registrations in all, of which 2 are active. Other active GSTINs include 30AAJCT4818P1ZY (Goa).
The CIN (Corporate Identification Number) of Tbi Corn is L15400PN2022PLC212368. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Tbi Corn is a listed company as per MCA records. Its shares are listed on NSE (symbol: TBI).
Tbi Corn was incorporated on 22 June 2022, making it 4+ years old. It is registered with the Registrar of Companies, Pune.
Tbi Corn has 3 deals on record (2 funding rounds, 1 ipo), with disclosed funding of ₹26.74 Cr; the latest was in June 2024.
The peers of Tbi Corn by revenue are Bagrrys India Private Limited, Payal Dealers Pvt Ltd, Ruparel Foods Private Limited, Svma Soya Foods Private Limited, Orion Health Foods Private Limited, all in the Food and Beverages industry (Health and Organic Foods), with the same principal business activity (food, beverages and tobacco products).
Ninad Anand Yedurkar was appointed as Whole-Time Director on 02 Nov 2023. Atul Babasaheb Patil was appointed as Director on 13 Sep 2023. Chandrakant Shivaji Mali was appointed as Director on 13 Sep 2023. Tbi Corn has 7 board changes on record in total.