- Company builds on its dairy and cattle feed operations while progressing proposed projects in ethanol, milk powder, sugar and soya edible oil.
Nashik, Maharashtra, November 13, 2026, ZEX PR WIRE, Morgan Agrotech Limited is advancing its vision of building an integrated agro-industrial enterprise that connects agricultural sourcing, farmer networks, dairy operations, animal nutrition and value-added manufacturing.
Founded in 2014, the company is guided by the philosophy “From Agriculture to Industry. From Farmers to Future.” Building on its existing dairy, cattle feed manufacturing and agricultural commodity trading activities, Morgan Agrotech is working towards expanding its portfolio through proposed industrial projects across ethanol, milk powder, sugar and soya edible oil.
The company’s long-term objective is to strengthen its presence across the agricultural value chain, create additional avenues for agricultural produce and by-products, support farmers and develop manufacturing infrastructure.
An Established Agricultural and Dairy Foundation
Morgan Agrotech’s existing operations are supported by a network of more than 14,000 farmers and over 300 milk collection centres. The company reports milk collection of approximately 1.5 lakh litres per day.
Through its Morgan Pashu Aahar business, the company has established installed cattle feed manufacturing capacity of 200 tonnes per day, with the potential to expand to 400 tonnes per day.
These operations provide a foundation for the company’s integrated approach, connecting agricultural sourcing, milk procurement, animal nutrition and industrial processing.
Financial Performance
Morgan Agrotech Limited reported audited revenue of ₹395.49 crore and profit after tax of ₹2.56 crore for FY 2025–26.
The company’s reported net worth stood at ₹16.3 crore, while total borrowings were ₹0.48 crore.
The company views its existing business performance as a foundation for strengthening operations and progressing with its planned development initiatives.
Proposed Hire Bio Ethanol Project
A key initiative in the company’s industrial expansion plans is the proposed Hire Bio Ethanol project, a 120 KLPD grain-based distillery planned at Aghar Bk, Malegaon, Nashik, Maharashtra.
The proposed project represents an investment of approximately ₹170 crore and is expected to create around 210 direct and indirect employment opportunities. The project received Large Scale Project status from the Government of Maharashtra on 11 July 2025.
The proposed facility is designed to process agricultural commodities including maize and broken rice, producing ethanol and associated by-products such as Distillers Dried Grains with Solubles (DDGS), carbon dioxide and fusel oil.
Morgan Agrotech sees potential synergies between ethanol manufacturing and its cattle feed business, particularly through the potential use of DDGS as an animal nutrition ingredient.
Proposed Milk Powder Project
The company is planning to expand its dairy value chain through a proposed milk powder manufacturing project. The initiative is intended to add a value-added processing segment to its existing dairy operations and milk procurement network.
Further technical specifications, project investment details, location and implementation milestones will be communicated once officially confirmed.
Planned Sugar Project
Morgan Agrotech is also considering a proposed sugar manufacturing project with a planned sugarcane crushing capacity of 5,000 tonnes per day (TCD). The project is envisaged around an integrated use of sugarcane and its by-products, including molasses, bagasse and press mud.
The company sees potential opportunities to connect these by-products with other parts of its proposed agro-industrial ecosystem. Molasses could potentially support ethanol and feed-related activities, while press mud may be suitable for return to agricultural fields as an organic soil input, subject to technical and commercial assessment.
The project location and detailed investment, approval, construction and commissioning plans are yet to be confirmed by the company. The 5,000 TCD figure represents planned capacity and not commissioned or current operating capacity.
Proposed Soya Edible Oil Project
The company is planning a proposed soya edible oil project comprising solvent extraction, refining and packaging, with the objective of producing Morgan-branded refined soya oil.
The proposed product range includes refined soya oil and soya meal. The company sees potential for soya meal generated through extraction to support its cattle feed business, subject to product specifications, quality requirements and commercial feasibility.
The project location, capacity, investment and implementation schedule are yet to be confirmed. The project remains a proposal and should not be interpreted as an operational facility.
An Integrated Six-Vertical Agro-Industrial Portfolio
Morgan Agrotech’s broader development vision brings together six business verticals:
- Dairy: Strengthening milk procurement, processing and dairy operations.
- Cattle Feed: Developing animal nutrition manufacturing and expanding installed capacity.
- Ethanol: Developing grain-based ethanol manufacturing and associated by-product opportunities.
- Milk Powder: Adding value-added dairy processing capabilities.
- Sugar: Evaluating a proposed 5,000 TCD sugarcane processing project and potential utilisation of its by-products.
- Soya Edible Oil: Planning solvent extraction, refining and packaging of Morgan-branded refined soya oil, alongside soya meal production.
The company’s approach is to develop these activities in phases, with project-specific timelines dependent on feasibility, financing, statutory approvals, construction and commissioning. The sugar and soya edible oil projects are proposed initiatives; their locations, investment details and implementation schedules remain subject to company confirmation.
Phased Operational Roadmap
- FY 2026–27: Focus on strengthening Dairy and Cattle Feed operations.
- FY 2027–28: Planned addition of Ethanol operations, subject to project execution and commissioning.
- FY 2028–29: Planned introduction of Milk Powder manufacturing, subject to project readiness.
- FY 2029–30: Further development of the integrated business portfolio.
The above roadmap reflects the company’s intended development sequence for the existing and previously outlined projects. No commencement year is being announced for the proposed Sugar and Soya Edible Oil projects at this stage. All project timelines remain subject to execution, applicable approvals and commissioning.
Leadership and Long-Term Ambition
The company’s growth journey is guided by its founder, promoter and director, Mr. Samadhan Sahebrao Hire, whose vision has been central to establishing the company’s foundation and defining its long-term direction.
Morgan Agrotech has outlined an aspirational management revenue target of ₹1,400 crore by FY 2028–29. The company intends to pursue this ambition through strengthening existing operations, developing manufacturing infrastructure, increasing value addition and building synergies across its agricultural and industrial activities.
The target is a management aspiration and is not a guarantee of future performance. Its achievement will depend on operational performance, project execution, financing, commissioning and market conditions.
Corporate Information
- Corporate Identification Number (CIN): U01400MH2014PLC255575
- Authorised Share Capital: ₹310 crore
- Paid-up Share Capital: ₹14,60,71,140
The company provides indicative information relating to its unlisted equity shares on its official website: https://morganagro.in/morgan-agrotech-unlisted-shares/
The webpage includes indicative information such as a price of ₹42 per equity share, a face value of ₹10, a stated market capitalisation of ₹310 crore and a minimum lot size of 10,000 equity shares.
These details may change and should be independently verified. They do not constitute an offer, invitation or solicitation to invest or investment advice.
From Agriculture to Industry. From Farmers to Future.
Morgan Agrotech Limited believes that the future of India’s industrial development is closely connected to the strength of its agricultural ecosystem. The company remains focused on strengthening its established operations and progressing with proposed projects that can connect agricultural resources with processing, manufacturing and value creation.
Through its integrated agro-industrial vision, Morgan Agrotech aims to build long-term relationships across the agricultural community while contributing to industrial development and employment generation.
MORGAN AGROTECH LIMITED
From Agriculture to Industry. From Farmers to Future.
Media Note: This press release contains corporate information and business updates provided by Morgan Agrotech Limited. Financial figures represent reported company performance.
Project capacities, investments, employment estimates and future business targets are based on management plans and estimates and remain subject to feasibility, applicable approvals, financing, execution, commissioning and market conditions. The Sugar and Soya Edible Oil projects are proposed initiatives; their locations, investments and implementation schedules have not been confirmed. Forward-looking statements are indicative and do not guarantee future performance. Indicative unlisted share information is provided for general reference and should be independently verified.
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No journalist was involved in the writing and production of this article.