# Maharashtra Oil Extractions Limited: IPO analysis > Maharashtra Oil Extractions Limited (CIN U15140MH1995PLC094639) has filed a Draft Red Herring Prospectus with SEBI for an IPO comprising an offer for sale of 2.14 Cr shares. In FY26 it reported revenue of ₹2,212 Cr (+17.4% on FY25) and a net profit of ₹86 Cr. Promoters hold 34.9% before the IPO. Our earlier look-up of its claims found 3 medium or high concerns across 41 claims looked up. - Page: https://ipo.innerkore.com/in/company/U15140MH1995PLC094639/maharashtra-oil-extractions-limited/ - CIN: U15140MH1995PLC094639 - Last updated: 15 Sep 2026 ## Key facts - **Company:** Maharashtra Oil Extractions Limited - **CIN:** U15140MH1995PLC094639 - **Filing stage:** DRHP - **Latest SEBI filing:** 15 Sep 2026 - **Offer for sale:** 2,14,28,571 shares - **Listing on:** BSE, NSE - **Revenue FY26:** ₹2,212 Cr - **Revenue growth:** +17.4% - **Net profit FY26:** ₹86 Cr - **Revenue CAGR FY24 to FY26:** 12.6% - **Promoter holding (pre-IPO):** 34.9% - **Lead managers:** IDBI Capital Markets & Securities Limited, Dolat Finserv Private Limited - **Registrar:** MUFG Intime India Private Limited - **Earlier look-up flags:** 0 high, 3 medium, 4 low ## Key signals (read from the filing; not investment advice) - **Growth** (look closer): 12.6% a year. Sales FY24 to FY26; latest year +17.4%. - **Profitability** (concern): 3.9% net margin. FY26; operating margin steady. - **Debt** (look closer): 0.61x equity. ₹285 crore borrowed at the end of FY26. - **Profit into cash** (concern): -102% of profit. Operations brought in ₹-88.3 crore against ₹86.2 crore of profit in FY26. - **One-off income** (looks fine): 5% of profit. Other and one-off income is 5% of pre-tax profit. - **Where the money goes** (concern): All for sale. Entirely an offer for sale: the company receives nothing. - **Red flags** (look closer): 3 to review. 41 claims looked up earlier: 0 high, 3 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 1,745 | 1,883 | 2,212 | | Sales growth | – | 7.9% | 17.4% | | Operating profit | 46 | 126 | 132 | | Operating margin | 2.6% | 6.7% | 6.0% | | Net profit | 17 | 87 | 86 | | Net margin | 1.0% | 4.6% | 3.9% | | Net worth | 301 | 380 | 466 | | Borrowings | 478 | 157 | 285 | | Return on equity | 5.8% | 22.9% | 18.5% | ## Claims looked up earlier - **MEDIUM** (LitigationStatus): There are no pending litigation proceedings involving Group Companies which will have a material impact on the Company.. The search results include a reference to a Bombay High Court order dated 10/09/2026, which suggests litigation history, and another reference to a Supreme Court judgment. However, the provided snippets do not explicitly confirm or deny the existence of pending litigation involving group companies that would have a material impact on the company. - **MEDIUM** (RegulatoryAction): The Board approved the Draft Abridged Prospectus for filing with SEBI and the Stock Exchanges on September 13, 2026.. Search results indicate that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, which is related to raising funds. However, none of the provided results mention the specific date of September 13, 2026, for the Board approval of the Draft Abridged Prospectus. - **MEDIUM** (RegulatoryAction): The Board approved the Draft Red Herring Prospectus for filing with SEBI and the Stock Exchanges on September 13, 2026.. Search results indicate that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, but they do not confirm the specific date of September 13, 2026, for the Board approval. Some results mention filings and others mention related regulatory actions. - **LOW** (SubsidiaryPerformance): Key companies in the Indian soybean processing market include Abis Export Private Limited, Vippy Industries Limited, Avi Agri Business Limited, Adani Wilmar, KN Agri Resources Limited, Patanjali, and Maharashtra Oil Extraction Limited (MOEL).. Search results confirm the existence and mention of 'Abis Exports (India) Private Limited' in relation to its ICRA rating, authorized capital, and connections to the IB Group in the Indian pet food sector. However, the results do not explicitly confirm its inclusion in the soybean processing market list provided in the DRHP. - **LOW** (SubsidiaryPerformance): Compliance with various SEBI regulations is required upon listing, including the SEBI Act, SCRA, SEBI Listing Regulations, SEBI (Prohibition of Insider Trading) Regulations, SEBI (Prohibition of Fraudulent and Unfair Trade Practices) Regulations, SEBI ICDR Regulations, and SEBI (Share Based Employee Benefits and Sweat Equity) Regulations.. The search results confirm that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, which is relevant to the context of the DRHP. However, the search results do not directly confirm or deny the specific list of SEBI regulations mentioned in the claim. - **LOW** (LitigationStatus): A criminal complaint was filed against another entity and its directors under the Negotiable Instruments Act, resulting in a conviction and a compensation order, which is currently pending before the Hon’ble High Court of Bombay.. One search result points to a Bombay High Court order dated 10/09/2026, which might relate to a legal matter, but it does not explicitly confirm the specific claim about a criminal complaint, conviction, and compensation order pending before the High Court. - **LOW** (LitigationStatus): The Company filed a criminal complaint against another entity and its directors under the Negotiable Instruments Act, resulting in a conviction and a compensation order, which is currently pending before the Hon’ble High Court of Bombay.. One search result points to a Bombay High Court order dated 10/09/2026, which is related to a matter concerning a 'Bhartiya Kamgar Sena' and a trade union recognition, but it does not explicitly confirm the filing of a criminal complaint against another entity under the Negotiable Instruments Act resulting in a conviction and compensation order as stated in the claim. - **NONE** (PromoterBackground): Basantlal Shankarlal Agrawal has more than twenty-six (26) years of experience and extensive entrepreneurial experience, and does not hold directorships in other entities or report other business ventures/special achievements.. The provided search results do not contain any information regarding Basantlal Shankarlal Agrawal's experience or directorships, so they do not corroborate or contradict the claim. No relevant information was found in the search results. - **NONE** (PromoterBackground): Basantlal Shankarlal Agrawal is a Promoter and the First Director of the Company.. The provided search results do not contain any information that corroborates or contradicts the claim that Basantlal Shankarlal Agrawal is a Promoter and First Director of Maharashtra Oil Extractions Limited. The search results focus on various SEBI and legal matters concerning different entities. - **NONE** (PromoterBackground): Manoj Basantlal Agrawal is listed as a Managing Director and is a Partner in Pragati Organics and AB Agribiz and Organics LLP.. The provided search results do not contain any information confirming or denying the claim that Manoj Basantlal Agrawal is a Managing Director and a Partner in Pragati Organics and AB Agribiz and Organics LLP. The results mention various SEBI-related news and consent orders involving different entities and individuals, but none directly relate to the specific claim. - **NONE** (SubsidiaryPerformance): The company sold equity shares of Samruddhi Nutrients (India) Private Limited (SNIPL) for a total consideration of ₹11.43 Crore.. The provided search results do not contain any direct information corroborating or contradicting the claim that Maharashtra Oil Extractions Limited sold equity shares of Samruddhi Nutrients (India) Private Limited for ₹11.43 Crore. The results are general business and stock market news sources. - **NONE** (RegulatoryAction): No actions have been initiated by SEBI against the Directors of the Company in the five years preceding the date of the Draft Red Herring Prospectus.. The search results confirm that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, which is a recent event. However, the results do not provide any information regarding actions initiated by SEBI against the company's directors in the preceding five years. ## Common questions ### How big is the Maharashtra Oil Extractions Limited IPO? Maharashtra Oil Extractions Limited's IPO comprises an offer for sale of 2.14 Cr shares, according to its Draft Red Herring Prospectus. The price band has not been announced yet: draft filings leave it blank and it is set in the Red Herring Prospectus. ### What are Maharashtra Oil Extractions Limited's revenue and profit? Maharashtra Oil Extractions Limited reported revenue from operations of ₹2,212 Cr in FY26, +17.4% versus FY25. Net profit was ₹86 Cr (FY25: ₹87 Cr). Revenue grew at a compound rate of 12.6% a year from FY24 to FY26. Figures are read from the DRHP, as printed there. ### How much do promoters own in Maharashtra Oil Extractions Limited? Promoters hold 34.9% of Maharashtra Oil Extractions Limited before the IPO. ### What are the red flags in Maharashtra Oil Extractions Limited's DRHP? Earlier, we looked up 41 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 0 raised a high concern, 3 medium and 4 low. The most notable: The search results include a reference to a Bombay High Court order dated 10/09/2026, which suggests litigation history, and another reference to a Supreme… Search results indicate that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, which is related to raising funds. However, none of the… Search results indicate that Maharashtra Oil Extractions has filed draft IPO papers with SEBI, but they do not confirm the specific date of September 13,… This is an automated screen, not a verdict; each finding links to its sources. ### What does Maharashtra Oil Extractions Limited do? Forget the hype: the IPO of Maharashtra Oil Extractions Limited is shadowed by a cloud of legal uncertainty. Documents point to past Bombay High Court orders and Supreme Court judgments, raising serious questions about the stability of this listing. ### Who manages the Maharashtra Oil Extractions Limited IPO? Book running lead managers: IDBI Capital Markets & Securities Limited, Dolat Finserv Private Limited. Registrar to the offer: MUFG Intime India Private Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Maharashtra Oil Extractions Limited IPO documents? All 2 filings for Maharashtra Oil Extractions Limited (DAP, DRHP) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [Maharashtra Oil Extractions Limited - DRHP](https://www.sebi.gov.in/sebi_data/commondocs/sep-2026/Maharashtra%20Oil%20Extractions%20Limited%20-%20DAP_p.pdf) (Abridged prospectus (DAP), filed 15 Sep 2026) - [Maharashtra Oil Extractions Limited - DRHP](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1789531323564.pdf) (Draft Red Herring Prospectus, filed 15 Sep 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.