Sawaliya Food Products Limited IPO

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Incorporated in 2014, Sawaliya Food Products Limited is engaged in the manufacturing and processing of dehydrated vegetables, catering primarily to institutional manufacturers in the branded packaged food segment, traders, and international importers. The company’s core product offerings—dehydrated carrots, cabbage, and beans—serve as critical ingredients in FMCG products such as ready-to-eat noodles, soups, and pastas.

Business Model and Product Application

Company operates on a B2B model supplying dehydrated vegetables to leading FMCG brands, domestic and international traders, and global intermediaries—particularly in the USA and Asia; sub-standard products are exported for pet food manufacturing.

 Institutional sales accounted for 66.15% of FY25 revenue; the company follows a zero-waste policy by monetizing under-utilized raw materials through strategic price arbitrage.

Cost-Efficient Sourcing Model

Company Sources vegetables directly from farmers in Madhya Pradesh and Amritsar, ensuring natural, organic raw materials. This farm-to-factory integration enables Cost efficiency due to low logistics and procurement costs, Stable raw material supply and Competitive pricing in the market

Product Portfolio and Diversification

The company’s flagship products include dehydrated carrots, cabbage, and beans, with the capability to customize processing as per client needs. It is actively expanding its portfolio with new products like dehydrated pumpkin and beetroot, showcasing strong agility to scale product lines quickly in response to market demand.

Customer Base

i) Domestic institutional manufacturers: Supplying to reputed FMCG firms headquartered in West Bengal and other parts of India.
ii) Local and international traders: Indian traders are mostly based in Madhya Pradesh; foreign traders are based in the USA.
iii) Direct international sales: Intermediaries in the USA and Asia, enabling global presence and reducing dependency on traders.

Key Strengths

i) Premier client base with repeat orders from FMCG majors.
ii) Flexible product development catering to evolving demand.
iii) Strategic location ensures low procurement and logistics cost.
iv) Sustainable sourcing and manufacturing practices.
v) Efficient supply chain and zero-waste model.
vi) Expansion-ready infrastructure with planned capacity additions.

Objects of the Sawaliya Food Products Limited IPO:

Company proposes to utilize the Net Proceeds from the Offer towards the following objects: 1. Funding capital expenditure requirements (₹7.48 cr) 2. Funding of working capital requirements (₹10 cr) 3. Repayment and/or pre-payment of certain borrowings (₹4.61 cr) 4. General Corporate Purposes.

Sawaliya Food Products Limited IPO Details:

Open Date: Aug 07 2025
Close Date: Aug 11 2025
Total Shares: 29,02,800
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 34.83 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 114-120 Per Equity Share
Listing At: NSE Emerge

Promoters And Management:

1. Raghav Somani, aged 34, is the Promoter, Chairman, and Managing Director of the Company. He holds a bachelor’s degree in engineering from Visvesvaraya Technological University, Belgaum, and has nearly a decade of experience in business development, dried vegetable processing, and marketing. He leads the marketing, production, and business development divisions and has been associated with the Company since its incorporation. 2. Priya Somani, aged 34, is the Promoter and Whole-time Director of the Company. She holds a bachelor’s degree in commerce from the University of Rajasthan and an MBA from Jayoti Vidyapeeth Women’s University. With four years of experience in food safety and quality management, she currently oversees the Company’s food safety, hygiene, and quality control. She joined the Company as a quality executive in May 2020 and was promoted to Whole-time Director in July 2024. 3. Kartavya Kumar Chitlangya, aged 44, is a Non-Executive Director of the Company. He pursued a bachelor’s degree in commerce from Devi Ahilya Vishwavidyalaya and an MBA from Maharishi Mahesh Yogi Vedic Vishwavidyalaya. He is currently an independent agent with Max Life Insurance and the proprietor of Perfect Financial Services, offering loan processing services. He has over four years of experience in the finance sector and has been associated with the Company since July 2024.

Financials of Sawaliya Food Products Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 34.18 23.39 15.08
EBITDA 12.21 6.12 1.68
EBITDA Margins 35.74% 26.14% 11.19%
PAT 6.94 3.11 0.59
PAT Margins 20.32% 13.33% 3.94%
ROCE 48.96% 49.24% 14.40%
Debt to Equity Ratio(In Times) 1.78 2.27 5.17
Operating Cash Flows -4.31 0.79 0.15

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Sawaliya Food Products 34.18 35.74% 20.32% 48.96% 1.78 119.01 17.15
Prime Fresh Limited 196 6.07% 4.53% 18.70% 0.06 222 25.1

Lead Manager of Sawaliya Food Products Limited IPO:

  1. Unistone Capital

Registrar of Sawaliya Food Products Limited IPO:

  1. Skyline Financial Services Private Ltd

Discussion on Sawaliya Food Products Limited IPO:

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