BharatRohan Airborne Innovations Ltd. IPO

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Bharatrohan Airborne Innovations Ltd., established in 2016, is an agritech company focused on leveraging drone/UAV-based platforms and Hyperspectral Imaging (HSI) technology to provide comprehensive solutions across the agricultural value chain. The company aims to address critical challenges in crop production, offering services such as crop monitoring, agricultural inputs and outputs, and sustainable farming practices.

Business Model and Services

Bharatrohan operates through a vertically integrated business model, providing a broad spectrum of solutions:

1. Crop Monitoring Services (CMS):Bharatrohan uses drones with hyperspectral imaging to monitor crop health, nutrient levels, pests, and water, supporting Integrated Crop Management (ICM) practices and providing actionable insights through the “CropAssure” platform.

2. Sale of Agri-Input Products: Based on drone insights, the company sells agri-inputs like fertilizers and pesticides under its brand, ‘Pravir,’ offering guidance to help farmers adopt sustainable practices.

3. Sale of Agri-Output Products: Bharatrohan procures residue-free crops from aggregators, ensuring quality through ICM practices and providing traceability via the “SourceAssure” program.

Technology and Innovation

Bharatrohan’s core technology is driven by Hyperspectral Imaging (HSI), which allows detailed analysis of crops by capturing data across a wide spectrum of light. This technology, along with drones like the Pravir X4, enables precision farming and early detection of crop issues. The company also integrates multimodal data analysis and provides tailored advisory services to farmers.

Farmer Support and Accessibility

To ensure the practical application of its services, Bharatrohan employs a network of Farmer Success Associates, who assist farmers at the village level using WhatsApp to communicate advisories in local languages. The company also operates Bharatrohan Pragati Kendras, providing farmers with access to agri-inputs and further support in implementing farming recommendations.

Expansion and Diversification

Bharatrohan is expanding its operations by setting up a manufacturing unit in Jodhpur for the cleaning, sorting, and packaging of agri-output products. The company also plans to launch a direct-to-customer model for selling agricultural products like spices and pulses through quick commerce platforms such as Swiggy Instamart.

Objects of the BharatRohan Airborne Innovations Ltd. IPO:

Company proposes to utilize the Net Proceeds from the Fresh Issue towards funding the following objects: a) Funding of Capital Expenditure requirements for purchase of new Equipment (₹14.20 cr) b) Purchase of Commercial Vehicle (₹2.29 cr) c) Funding Working Capital Requirement (₹16.68 cr) d) General corporate purposes.

BharatRohan Airborne Innovations Ltd. IPO Details:

Open Date: Sep 23 2025
Close Date: Sep 25 2025
Total Shares: 52,99,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 45.05 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 80-85 Per Equity Share
Listing At: BSE SME
Listing Date: Sep 30 2025

Promoters And Management:

1. Mr. Amandeep Panwar (32) is the Promoter, Chairman, and Managing Director of the Company. He holds a B.Tech in Aeronautical Engineering and has over 9 years of experience in the industry. He was appointed as Director in 2016, Executive Director in 2024, and Chairman & Managing Director in 2024. Amandeep oversees operational performance, market growth, risk management, and sustainability. He is also a director at BharatRohan Innovation Foundation and GroeiGids B.V. 2. Mr. Rishabh Choudhary (32) is a Promoter and Whole-Time Director of the Company. He holds a B.Tech in Aeronautical Engineering and has over 9 years of industry experience. Rishabh joined in 2016 as Non-Executive Director, became Executive Director in 2024, and Whole-Time Director in 2024. He leads technology strategy, R&D initiatives, and operational efficiency. Rishabh is also a director at BharatRohan Innovation Foundation and GroeiGids B.V. 3. Mr. Vijay Nadiminti (42) is a Non-Executive Non-Independent Director of the Company. He holds a degree in Horticulture and a PGDM in Agri-business Management. With over 15 years of experience in agribusiness and innovation, he has worked in various roles, including Chief Operating Officer at IDEA and CEO of AgHub Foundation. He was appointed as Non-Executive Non-Independent Director in 2024.

Financials of BharatRohan Airborne Innovations Ltd. IPO:

Particulars FY 2024-25 (Consolidated) FY 2023-2024 (Standalone ) FY 2022-2023 (Standalone)
Revenue from Operations (Cr) 28.17 18.95 6.46
EBITDA (Cr) 7.92 7.36 1.91
EBITDA Margins 28.12% 38.36% 29.60%
PAT (Cr) 7.58 6.9 1.8
PAT Margins 26.93% 36.42% 27.96%
ROCE 19.69% 35.42% 19.30%
Debt to Equity Ratio(In Times) 0.04 0.25 0.46
Operating Cash Flows (Cr) -3.85 -8.11 0.79

Comparison With Peers:

According to RHP their is no listed peers existed.

Lead Manager of BharatRohan Airborne Innovations Ltd. IPO:

  1. Smart Horizon Capital Advisors Private Limited

Registrar of BharatRohan Airborne Innovations Ltd. IPO:

  1. Kfin Technology Private Limited

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