Fluxara Advanced Renewables DPR v17 ₹24 Cr TPC DSCR 3.6× Y1 Full DPR →
Fluxara plant aerial
CIN U35106TS2026PTC210706
DPIIT 246192
Site Kothakota, Wanaparthy, TG
Area 12 acres @ ₹30L/acre
DPR v17 · September 2026
Status Pre-Financial Close
Detailed Project Report · Version 17 · September 2026 · Confidential

Fluxara Advanced
Renewables & Applications
20 TPD PS · 30 TPD PCC

Precipitated Silica and Nano-PCC Circular Biorefinery from Rice Husk Ash. 82% NaOH closed-loop recovery. Zero CO₂ purchase cost. Day 1 capacity: 6,600 MT/yr PS · 9,900 MT/yr PCC.

₹24 Cr
Total Project Cost
₹75 Cr
Y4+ Revenue
3.6×
Y1 DSCR (morat)
2.8×
Y2 DSCR (tightest)
82%
NaOH Recovery
₹0
CO₂ Purchase Cost
01Executive Overview

Fluxara converts rice husk — agricultural waste available at ₹5,500/MT — into high-value specialty silica and nano-calcium carbonate through a fully closed-loop chemical process. The circular chemistry means NaOH (the costliest input) is recovered at 82% and CO₂ (from furnace combustion) replaces purchased acid at ₹0 cost.

20
MT/day Precipitated Silica
6,600 MT/yr · 330 days
30
MT/day Nano-PCC
9,900 MT/yr · co-product
₹75 Cr
Y4+ Annual Revenue
PS ₹50.8 Cr + PCC ₹22.8 Cr + residue
₹48.2 Cr
Y4+ EBITDA
64.3% margin
82%
NaOH Recovery Rate
Lab validation required pre-freeze
~33%
Break-even Utilisation
Highly resilient P&L

Why This Project Is Bankable

Raw materialRice husk — waste, abundant, ₹5,500/MT
CO₂ sourceCombustion flue — ₹0 cost, 25 MT/day
NaOH loop82% recovered via causticisation
Co-product lock-inPCC cannot be deferred (same reaction)
Y1 DSCR3.6× (moratorium, export pricing)
Y2 DSCR (tightest)2.8× (first P+I year)
Y4+ DSCR13.7× (full grade mix)
Break-even~33% utilisation
Debt tenor7 yr · 12M moratorium
Promoter equity₹8.35 Cr (35%)
Revenue Ramp — Y1 to Y4+
₹ Crore · Base case export pricing
02Site — Kothakota, Wanaparthy

12 acres at Kothakota, Wanaparthy district, Telangana. ₹30L/acre. Within 50 km of multiple rice mills (FCI procurement zone). ~150 km from Piduguralla CaO quarry. 300–380 km to Chennai/Krishnapatnam export ports.

Isometric plant layout
Furnace + THU20 MT/day RH · ≤700°C
Therminol 55 · atmospheric
Process Hall~60 × 24 m RCC
400 kWp solar rooftop
Storage TanksNaOH 48% · CaO silo
Na₂SiO₃ buffer
WarehousePS + PCC despatch
8–9 FCL/month export
ETP + ZLD80% water recovery
130 KLD fresh makeup
Admin + 750 kVA HTTSSPDCL HT-I(A) tariff
750 kW DISCOM connection
AI render (qwen-image-3.0-pro) · Annotated · Kothakota Phase 1 layout
Aerial drone view
Aerial · 200m altitude
12-acre campus. Solar roof visible from above. Rice fields north. Phase 2 expansion land south.
Site ParameterValue
Area — Phase 16 acres (operational)
Area — Total acquired12 acres
Land cost₹3.60 Cr (₹30L/acre)
DistrictWanaparthy, Telangana
DISCOM officeTSSPDCL Wanaparthy
Power required750 kW HT connection
Solar PV400 kWp on process roof
Water sourceBorewell + ZLD 80% recycle
Fresh water makeup130 KLD/day
Rice husk radius<50 km · FCI mills
CaO sourcePiduguralla, AP (~150 km)
Export portKrishnapatnam / Chennai (~350 km)
TSPCB category targetOrange (PI 41–59)
03Process — Six-Stage Circular Biorefinery

Rice husk → combust at ≤700°C → leach RHA in NaOH → filter → precipitate with CO₂ → spray-dry → causticise (recovers NaOH + makes PCC). The NaOH loop closes at 82% recovery; CO₂ is 100% internal. MVR is mandatory from Day 1.

🔥
Combust
20 MT/day
Rice husk ≤700°C
THU Therminol 55
→ RHA 3.6 MT/day
→ CO₂ 25 MT/day
→ Heat 199 GJ/day
⚗️
Leach
23 MT RHA/day
10% NaOH · 90°C · 2hr
PP-lined SS316L reactors
SiO₂ + 2NaOH → Na₂SiO₃
SiO₂ extracted: 88%
= 18.62 MT/day SiO₂
🔩
Filter
4.4 MT/day residue
1200mm PP filter press
Desilicated residue
→ brick kilns ₹900/MT
Filtrate → precipitation
₹1.3 Cr/yr byproduct
💧
Precipitate
20 MT PS/day
CO₂ (free) + Na₂SiO₃
→ SiO₂↓ + Na₂CO₃
pH 5.5–9 · 50–70°C
14.2 MT CO₂/day used
CTAB 0.44 MT/day (HDS)
🌀
MVR + Dry
6,600 MT/yr PS
MVR saves 65% energy
Spray dryer × 3 SS316L
89.6 GJ/day evap load
MANDATORY from Day 1
spec: 23 MT/day RHA
♻️
Causticise
30 MT PCC/day
Na₂CO₃ + Ca(OH)₂
→ 2NaOH + CaCO₃↓
NaOH recovery: 82%
CaO input: 20.5 MT/day
PCC: 9,900 MT/yr
Process flow diagram
Process Flow · Six Stages
All 6 stages + NaOH recovery arc + CO₂ internal loop. Generated with qwen-image-3.0-pro.
Process hall interior
Process Hall Interior · SS316L Reactors
Leach reactors · Filter presses · Spray dryer bank · Siemens S7-1200 PLC + SCADA

Mass Balance — Daily @ 20 TPD PS

StreamMT/dayMT/yr
Rice husk (fuel)20.006,600
Purchased RHA19.406,402
Bonus RHA (combustion)3.601,188
Total RHA to leach23.007,590
SiO₂ available (92%)21.166,983
SiO₂ extracted (88%)18.626,145
✦ Precipitated Silica (PS)20.006,600
✦ Nano-PCC (co-product)30.009,900
Desilicated residue4.401,452
CO₂ generated (combustion)25.058,267
CO₂ used (precipitation)14.204,686
CO₂ surplus (BCR upside)10.853,581
NaOH gross circuit~37.0
NaOH fresh makeup (100%)6.702,211
NaOH as 48% lye14.004,620
CaO consumed (≥85% purity)20.506,765
Fresh water makeup130 KLD
Critical path: SiO₂ extraction efficiency (88%) and NaOH recovery (82%) are lab-validated estimates. Lab trials (extraction + causticisation Na-balance) are the highest-priority pre-commissioning activity — Month 2–4 per timeline.

Circular Chemistry — The NaOH Loop

The causticisation step simultaneously recovers NaOH AND produces PCC — these cannot be separated. This is why PCC is an obligatory co-product: deferring it would collapse the NaOH recovery economics.

ReactionStoichiometry
1 · NaOH LeachingSiO₂ + 2NaOH → Na₂SiO₃ + H₂O
2 · PS PrecipitationNa₂SiO₃ + CO₂ + H₂O → SiO₂↓ + Na₂CO₃
3 · NaOH Recovery + PCCNa₂CO₃ + Ca(OH)₂ → 2NaOH + CaCO₃↓
4 · CaO Slaking (on-site)CaO + H₂O → Ca(OH)₂ · exothermic
RatioValue
NaOH/kg SiO₂1.331 kg
CO₂/kg Na₂SiO₃0.361 kg
CaCO₃ (PCC) / kg Na₂CO₃0.944 kg
NaOH recovered / kg Na₂CO₃0.755 kg
Ca(OH)₂ / kg CaO (at 85%)1.122 kg
Circular chemistry infographic
Circular Chemistry · 82% NaOH Loop
04Energy Balance — MVR Is Mandatory

Gross thermal from 20 MT/day rice husk combustion: 243 GJ/day. After 82% boiler efficiency: 199.3 GJ/day available. At 20 TPD PS scale, process heat demand is 178.1 GJ/day — leaving only 21 GJ/day surplus. Without MVR the plant cannot operate.

Energy ItemGJ/day
RH NCV (as-received, 10% moisture)12,150 kJ/kg
Gross thermal — 20 MT/day RH243.0
Boiler efficiency (82%)199.3
Evaporation — MVR saves 65%89.6
Leaching heat65.4
Spray drying23.1
Total process heat (with MVR)178.1
Thermal surplus (with MVR)21.2
Thermal deficit (without MVR)−131
MVR specification: Must be sized for 23 MT/day RHA throughput — larger than v16 spec. Confirm with Indian Process Equipment Corp, Pune during RFQ. Phase 2 (40 TPD PS) requires a second furnace — 21 GJ/day thermal surplus is insufficient for a second production line.
Electrical LoadkW
Installed load~900 kW
Operating load~695 kW
Solar PV offset (400 kWp)~504,000 kWh/yr
DISCOM connection required750 kW HT
Net grid draw~2.76M kWh/yr
Electricity cost (net solar)₹1.93 Cr/yr @ ₹7/kWh
Energy Budget — GJ/day
Available 199.3 GJ/day · Process uses 178.1 · Surplus 21.2
Electrical Load Breakdown — kW
~695 kW operating · 400 kWp solar · 750 kW DISCOM HT
05CAPEX — ₹24 Crore TPC · v17

₹24 Cr (range ₹23–26 Cr pending RFQs). Indian-market BOM throughout. Six priority RFQs must be executed before engineering freeze to lock ±10% accuracy.

CAPEX Breakdown — ₹ Lakhs
Total ₹24 Cr · 6 major categories
Category₹ Lakhs%
Land — 12 acres Kothakota36015.0%
Civil (sheds, RCC, roads, drains)1656.9%
Process equipment (Indian vendors)80033.3%
Electrical + Solar (400 kWp, 750 kW HT)25010.4%
Instrumentation (S7-1200 + Ignition SCADA)1104.6%
Piping (HDPE/CPVC 85%)1305.4%
Structural (Hyderabad fabrication)602.5%
Insulation + Fire protection482.0%
Engineering + PMC (3.5%)552.3%
Contingency (8%)1285.3%
Pre-operative + WC + DPIIT grant29412.3%
TOTAL PROJECT COST2,400100%

Key Equipment — Process Scope

🔥
Furnace + THU
RH combustion ≤700°C
CEMS auto-shutoff @ 720°C
Therminol 55 · 180–220°C
Atmospheric pressure (no IBR)
~₹90–100L
🌀
MVR Evaporator
Sized for 23 MT/day RHA
89.6 GJ/day evap duty
65% energy saving vs steam
Indian Process Equip Corp, Pune
~₹95L (v17 larger)
💨
Spray Dryers × 3
SS304/SS316L rotary atomiser
23.1 GJ/day drying load
Cyclone separators included
Priority RFQ #1
~₹150L total
⚗️
Leach Reactors × 5
15 KL each · PP-lined SS316L
Top-entry agitator · 90°C
10% NaOH · 2hr residence
Manifolded in 2+3 groups
~₹70L total
Filter Presses × 3
1200mm PP plates
Desilicated residue separation
Priority RFQ #5
+ 1 additional vs v16
~₹39L total
🧪
Draft-tube Causticiser
Na₂CO₃ + Ca(OH)₂ → NaOH + PCC
Sized for 30 MT/day PCC
PCC hydrocyclone stages × 3
Priority RFQ — larger than v16
~₹55L
Solar PV — 400 kWp
On process hall roof
~504,000 kWh/yr generation
Reduces grid draw to 2.76M kWh
+ 750 kW HT DISCOM connection
₹130L (PV + infra)
🖥
PLC + SCADA
Siemens S7-1200 PLC
Ignition SCADA platform
CEMS on furnace chimney
Remote monitoring ready
₹110L
Financing: Debt ₹15.6 Cr (65%) @ 10.5% p.a. · Equity ₹8.4 Cr (35%) · 7-year tenor · 12-month moratorium · Annual DS post-moratorium: ₹3.87 Cr (Y2, peak) declining to ₹2.76 Cr (Y7).
06OPEX — ₹27.4 Cr/yr at 100%

NaOH 48% lye is the dominant cost at 30.8% of total. Every 1% improvement in NaOH recovery = ~₹0.72 Cr/yr saved. CTAB (HDS surface treatment) is the highest supply-chain risk — imported, 4-week buffer mandatory.

OPEX Composition — ₹27.4 Cr/yr
100% utilisation baseline
Item₹ Cr/yr%
NaOH 48% lye (14 MT/d × ₹18,240 × 330)8.4330.8%
CaO quicklime (20.5 MT/d × ₹6,000 × 330)4.0614.8%
Rice husk (20 MT/d × ₹5,500 × 330)3.6313.2%
CTAB (0.44 MT/d × ₹1,80,000 × 330)2.619.5%
Stearic acid (0.25 MT/d × ₹1,20,000 × 330)0.993.6%
Purchased RHA (19.4 MT/d × ₹750 × 330)0.481.7%
Packing + transport1.806.6%
Electricity — variable0.742.7%
Electricity — base grid (net solar)1.104.0%
Labour — 28 staff avg ₹5.0L CTC1.405.1%
Maintenance (2% fixed assets)0.742.7%
Admin + insurance + other0.823.0%
TOTAL OPEX @ 100%27.40100%
NaOH ₹18,240/MT lye CaO ₹6,000/MT Piduguralla CTAB ₹1,80,000/MT imported RH ₹5,500/MT seasonal ±15% Buy CaO — slake on-site always
07Financial Model — Y1 to Y4+

Year 1: moratorium (interest-only ₹1.64 Cr). Year 2: first P+I (₹3.87 Cr — tightest year, DSCR 2.8×). Year 4+: full grade mix, blended PS ₹77/kg, PCC ₹23/kg. DSCR covenant: 1.25× minimum.

P&L Summary — Revenue · EBITDA · DS
₹ Crore · Base case export pricing
DSCR by Year — Debt Service Coverage
Min covenant 1.25× · Y2 is tightest at 2.8×
Item Y1 (60%)Y2 (75%)Y3 (90%)Y4+ (100%)
Utilisation60%75%90%100%
PS pricing (blended avg)₹42/kg export₹55/kg blended₹65/kg HDS mix₹77/kg full mix
PCC pricing₹10/kg bulk₹14/kg₹18/kg₹23/kg
Revenue₹22.5 Cr₹33.0 Cr₹53.0 Cr₹75.0 Cr
OPEX (ramped)₹16.3 Cr₹21.2 Cr₹25.0 Cr₹26.8 Cr
EBITDA₹6.2 Cr₹11.8 Cr₹28.0 Cr₹48.2 Cr
EBITDA margin27.6%35.8%52.8%64.3%
Debt service₹1.64 Cr (int only)₹3.87 Cr₹3.57 Cr₹3.47 Cr
DSCR3.6×2.8×7.8×13.9×
Net cash after DS+₹4.56 Cr+₹7.93 Cr+₹24.4 Cr+₹44.7 Cr

Sensitivity Analysis — Y4+ Base (₹75 Cr Rev · ₹48.2 Cr EBITDA · DS ₹3.47 Cr)

Scenario EBITDA ImpactRevised EBITDADSCRVerdict
Base case Y4+ ₹48.2 Cr13.9×Bankable ✓
PS price −20% all grades −₹10.2 Cr₹38.0 Cr10.9×Bankable ✓
NaOH price +30% −₹2.5 Cr₹45.7 Cr13.1×Bankable ✓
Rice husk doubles −₹3.6 Cr₹44.6 Cr12.8×Bankable ✓
Dental/FSSAI delayed to Y5 −₹9.5 Cr (Y3)₹18.5 Cr (Y3)5.2×Bankable ✓
Combined: PS−15% + NaOH+30% + 85% util −₹16.8 Cr₹31.4 Cr9.0×Bankable ✓
Worst case: PS−25% + NaOH+50% + 75% + no export −₹30.5 Cr₹17.7 Cr5.1×Stressed >1.25× ✓
Upside: BCR credits (10.85 MT/day CO₂) +₹1.0 Cr₹49.2 Cr14.2×Upside ↑
08Products & Pricing

PS revenue trajectory: export standard (Y1) → HDS qualification (Y2) → dental/FSSAI (Y3+). PCC four grades from bulk coatings to high-value plastics compounding.

Precipitated Silica — Grade Stack

Grade₹/kg Domestic₹/kg Export FOBWhen
Standard rubber/feed₹26₹42Y1
HDS green tyres₹45–50₹72–84Y2
Dental/Food FSSAI E551₹90–95₹144–152Y3+
Y4+ blended avg: ₹77/kg (60% HDS + 25% std + 15% dental)
FSSAI E551 application: Month 10 · 12–18M approval cycle
HDS spec: CTAB ≥175 mg/g · CIPD ≥80% · D50 ≤20µm

Nano-PCC — Grade Stack

Grade₹/kgD50Application
Coatings/Bulk₹8–152 µmPaints, coatings
Sealant (stearic acid coated)₹260.7 µmSilicone sealants
Plastics (OCC coated)₹420.5 µmPP/PE compounding
Y4+ blended avg: ₹23/kg (40% bulk + 40% sealant + 20% plastics)
PCC revenue Y4+: ₹22.8 Cr/yr on 9,900 MT output
PCC is obligatory — cannot defer without collapsing NaOH recovery
Revenue Mix — Y4+ Full Grade Stack
PS ₹50.8 Cr · PCC ₹22.8 Cr · Residue ₹1.3 Cr · Total ₹75 Cr
10Implementation Timeline — 12 Months to Commission

Financial close → Day 1 commercial production in 12 months. DISCOM 750 kW application filed Month 0. FSSAI E551 applied Month 10 (12–18M cycle). Customer engagement Month 1 — not after commissioning.

MonthMilestone
M0Financial close · Land possession · PMC · DISCOM 750 kW filed
M1Customer engagement begins (HDS + PCC coatings targets)
M1–2Engineering freeze · Equipment BOM · RFQs issued
M2–4Lab validation — extraction, causticisation, Na-balance
M3–8Civil, equipment procurement, E&I, CEMS installation
M8–10Equipment installation · Mechanical completion
M10FSSAI E551 central licence application filed
M11Trial samples to target customers
M12Commercial production at 20 TPD PS from Day 1
M1875% utilisation · HDS qualifying · DISCOM confirmed 750 kW
Y3FSSAI certified · Dental/food revenue activated
Y2+Phase 2 planning — second furnace from accruals, no bank debt

Priority RFQs — Before Engineering Freeze

1️⃣
Spray Dryers × 3
SS304/SS316L · rotary atomiser · cyclone · sized for 23 MT/day RHA
2️⃣
Furnace + THU
20 MT/day RH · ≤700°C · Therminol 55 · atmospheric · CEMS
3️⃣
MVR Evaporator
89.6 GJ/day · 23 MT/day RHA spec · Indian Process Equip Corp Pune
4️⃣
ETP + ZLD Package
130 KLD fresh makeup · 80% recycle · Day 1 mandatory
5️⃣
Filter Presses × 3
1200mm PP plates · desilicated residue · 4.4 MT/day cake
6️⃣
PCC Hydrocyclones
3-stage · 30 MT/day PCC · 0.5–2 µm particle sizing