Elfin Agro India

What Elfin Agro India does

Elfin Agro India Limited is a Bhilwara, Rajasthan-based food and beverage manufacturer that processes wheat and mustard seeds into consumer staples. The company produces Chakki Atta (whole wheat flour), R Atta (refined wheat flour), Tandoori Atta, Sooji/Semolina, Maida, and cold-press yellow mustard oil, sold under the 'Shiv Nandi' and 'ELFIN'S Shri Shyam BHOG' consumer brands. Incorporated in 2009, the company commenced flour processing operations in 2013 and has since added a Dal Processing Unit (commercial production FY2020) and a Mustard Oil Processing Unit (installed 2022). The company listed on the BSE SME platform in March 2026 at Rs 47 per share, raising approximately Rs 25 crore through a fresh equity issuance.

Manufacturing is concentrated at the RIICO Growth Centre in Hamirgarh, Bhilwara, anchored by a 100 tons-per-day Roller Flour Mill that separates bran from endosperm through staged breaking, grading, purification, and grinding using a mix of imported and indigenous equipment. Mustard oil is extracted via a cold-press process designed to preserve flavor and nutritional properties, while wheat bran (choker) is sold as a secondary-revenue animal feed. Distribution is supported by four godown facilities in and around Bhilwara, and the company holds FSSAI registration, ISO 22000:2018 certification, and is classified as an MSME under Udyam registration.

Revenue is generated through a B2B distribution model that sells finished products in bulk to wholesalers and retailers across Rajasthan, Uttar Pradesh, and Gujarat, with product pricing not publicly disclosed. Reported revenue grew 17.19% from Rs 124.63 crore in FY2024 to Rs 145.86 crore in FY2025, with a reported FY25 profit of Rs 5.07 crore. The promoter group, anchored by the Daga family (Deepak Pal Daga, Vimal Kumar Daga, Seema Daga), retains 72.59% ownership post-IPO, and the company is part of a broader group whose combined turnover exceeds Rs 250 crore across commodity trading, cotton processing, and NBFC operations.

Name

Elfin Agro India

Legal name

Elfin Agro India Limited

Website

https://elfinagroindia.com

Company type

Public

Founded year

2009

Operating status

Ipo

Headcount range

1–10 employees

Short description

Elfin Agro India Limited is a Bhilwara, Rajasthan-based B2B food manufacturer producing wheat flour (Chakki Atta, Maida, Sooji, Tandoori Atta) and cold-press mustard oil under the Shiv Nandi and ELFIN'S Shri Shyam BHOG brands for wholesalers and retailers across Rajasthan, Uttar Pradesh, and Gujarat.

Ownership category

akta.pro rank

Product category

Flour Milling and Edible Oil Manufacturing

NAICS

Grain and Oilseed Milling (3112), Fats and Oils Refining and Blending (311225)

SIC

Grain Mill Products (2040), Fats & Oils (2070)

akta.pro primary industry

Flour & Milling Products Manufacturing (wheat, corn, rice, specialty flours) (AFAKABAD)

akta.pro secondary industry

Edible Oil Packaging, Bottling & Private Label Manufacturing (AFAKAEAJ)

Keywords

• Wheat flour milling
• Mustard oil extraction
• Edible oil processing
• Agro commodity processing
• Dal processing

Headquarters

HQ city

Bhilwara

HQ country

India

HQ region

Asia

Offices5 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales

Revenue model

1. Wheat Flour Products: Manufacturing and sale of Chakki Atta, R Atta (Refined whole wheat flour), Tandoori Atta, Sooji (Semolina flour), and Maida under brands 'Shiv Nandi' and 'ELFIN'S Shri Shyam BHOG'. Revenue is generated through wholesale and retail distribution channels.
2. Yellow Mustard Oil: Extraction, refining and manufacturing of edible mustard oil from raw mustard seeds, sold under the 'Shiv Nandi' brand through the same distribution network.
3. Animal Feed (Wheat Bran/Choker): Wheat bran, known as choker, is a by-product obtained during wheat milling, sold as animal feed for secondary revenue.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Elfin Agro India Limited manufactures and sells processed wheat flour products (Chakki Atta, Tandoori Atta, Refined Atta, Maida, and Sooji) and yellow mustard oil under the brands 'Shiv Nandi' and 'ELFIN'S Shri Shyam BHOG'. The company operates a 100 tons per day Roller Flour Mill, a Mustard Oil Processing Unit using cold-press extraction, and a Dal Processing Unit at its Bhilwara, Rajasthan facility.

Product overview

Elfin Agro India Limited operates as a flour and edible oil manufacturing company with two primary production facilities in Bhilwara, Rajasthan. The company produces a portfolio of wheat-based products including Chakki Atta (Shiv Nandi brand), Tandoori Atta (ELFIN'S Shri Shyam BHOG brand), Refined Atta, Maida, and Sooji under its Shiv Nandi and ELFIN'S Shri Shyam BHOG brands, along with yellow Mustard Oil (Shiv Nandi brand) extracted via cold-press process. The product line also includes Wheat Bran (Choker) as a by-product for animal feed. The company operates a Roller Flour Mill with 100 tons/day processing capacity, a Mustard Oil Processing Unit, and a Dal Processing Unit across its RIICO Growth Centre facilities. Products are sold to wholesalers and retailers across Rajasthan, Uttar Pradesh, and Gujarat.

Differentiator

Problem solved

Functional benefit

Brands

• Shiv Nandi: Brand name for processed wheat flour and yellow mustard oil sold to wholesalers and retailers across Rajasthan, Uttar Pradesh, Gujarat, etc.
• ELFIN'S Shri Shyam BHOG

Products and services

• Chakki Atta (Shiv Nandi)
• Tandoori Atta (ELFIN'S Shri Shyam BHOG)
• Refined Atta (Elfin) Refined wheat flour milled to very fine texture, derived from select wheat grains for uniformity in taste and color. Produces chapatis and rotis with an even finish and soft bite. Sold under the Elfin brand.
• Maida Finely milled, refined wheat flour with bran and germ removed. White in color and smooth in texture, commonly used in baking and preparing breads, pastries, biscuits, and snacks. Available in 500 gms and 1 kg packaging.
• Sooji (Semolina) Coarse flour made from durum wheat or hard wheat varieties, also known as semolina. Widely used in Indian cuisine for upma, halwa, and various snacks. Available in 500 gms and 1 kg packaging.
• Yellow Mustard Oil (Shiv Nandi) Yellow mustard oil extracted using cold-press process preserving natural properties and distinct pungency. Edible oil with strong aroma, high smoke point, rich in monounsaturated and polyunsaturated fats. Available in 200 ml, 500 ml, 1 ltr, 2 ltr, 5 ltr, and 15 ltr packaging under the Shiv Nandi brand.
• Wheat Bran (Choker) - Animal Feed By-product from wheat milling process consisting of outer layers of the wheat kernel (pericarp and aleurone layers). Used as animal feed and contributes to secondary revenue stream.
• Dal Processing Dal processing operations at the company's Dal Processing Unit in RIICO Growth Centre, Bhilwara, producing processed dals (lentils) as part of the agro processing product portfolio.

Quantifiable outcome

• Revenue increased by 17.19% from Rs 124.63 crore in FY24 to Rs 145.86 crore in FY25
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Daga BrotherscoreOthersPartnership firm within the group dealing in trading of agro commodities (wheat, maize, gram, mustard seeds) with annual turnover exceeding Rs 150 crore. Provides raw material sourcing and agricultural commodity trading synergies.
• Shreeshyam Agro Proteins Private LimitedcoreOthersGroup company dealing in processing of raw cotton and cotton seeds with turnover exceeding Rs 80 crore. Operates in the agricultural processing segment within the broader group ecosystem.
• Shrinika Capital Finance Private LimitedminorOthersNBFC (Non-Banking Financial Company) within the group dealing in lending of various types of loans with AUM exceeding Rs 30 crore. Provides vehicle loans and property mortgage loans.
• Shree Shyam Agro Proteins Private LimitedcoreOthersDelinting (processing of cotton seed) and Oil Mill (Cotton Seed) unit within the group companies.

Scale indicators7 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Adani Wilmar: Markets the Fortune brand across wheat flour, mustard oil and other edible oils. Closest direct competitor on the combined atta + mustard oil portfolio Elfin operates.
• ITC Limited: ITC operates the Aashirvaad brand, the dominant Indian packaged wheat flour (atta) franchise, and also offers branded edible oils. Directly comparable to Elfin for branded atta and staples.
• Marico Limited: Sells Saffola refined edible oils and has entered mustard oil/cold-press categories. Direct competitor in branded edible oils, including mustard oil where Elfin competes.
• Patanjali Foods: Sells Patanjali Chakki Atta and Kachi Ghani mustard oil under the Patanjali brand. Directly competes in both branded whole-wheat atta and cold-press mustard oil segments.
• Emami Limited: Markets 'Emami Healthy & Tasty' edible oils including mustard variants. Direct peer in branded edible oils targeting health-conscious Indian households.

Broad incumbents

• Bunge India: Bunge's India operations focus on oilseed processing and edible oils including mustard; comparable at the upstream processing layer to Elfin's mustard oil extraction.
• Gujarat Ambuja Exports: Diversified Indian agro-processing player with grain milling and oil extraction operations. Comparable on the wheat and oilseed processing layer.
• Cargill India: Operates large edible oil refining, wheat milling and food ingredient businesses in India. Overlaps with Elfin on wheat processing and edible oil processing but as part of a far broader global portfolio.

Regional players

• GRM Overseas: India-based rice and grain processing company with branded staples exposure. Regionally adjacent peer in branded packaged grains.
• Kohinoor Foods: Indian branded basmati rice and food products company. Adjacent peer in branded Indian staples and grain-based packaged foods.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elfin Agro India