Crop Life Science Limited IPO

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i. Crop Life Science is an agrochemical company engaged in the business of manufacturing, distributing, and marketing of a wide range of agro chemical formulations. Agriculture chemicals consists of Pesticides and Micro Fertilizer, moreover, the pesticides including Insecticides, Fungicides, Herbicides and Weedicides. In the year 2006, they have taken the land admeasuring area of approximately 5831.10 Square Meters on lease basis for a period of 99 years from Gujarat Industrial Development Corporation (“GIDC”) for their manufacturing unit at GIDC Ankleshwar (Gujarat).

ii. The company had commenced the manufacturing activities of Pesticides and Micro fertilizer in the year 2006- 07. In the year 2012, the Company started exporting pesticides to Indonesia. Over a period of time, they have started exporting to Bangladesh, Egypt, Myanmar, Vietnam, Sudan and other countries.

iii. The company is required to obtain various licenses and permission from the government and semi government authorities before commencement of manufacturing of pesticides and fertilizer. The licenses and permission such as registration of their products with Central Insecticides Board (“CIB”), approval from the Directorate of Agriculture, Government of Gujarat, and approval from the Gujarat Pollution Control Board (“GPCB”).

Competitive Strengths

i. Our wide and varied range of Products
ii. Extensive distribution network
iii. Experienced Promoters, Directors and Management team.

Objects of the Crop Life Science Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Working capital requirement, ii. General Corporate Purpose, and iii. Meeting Public Issue Expenses.

Crop Life Science Limited IPO Details:

Open Date: Aug 18 2023
Close Date: Aug 22 2023
Total Shares: 5,140,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 26.73 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 52 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 30 2023

Promoters And Management:

i. Rajesh Lunagariya aged 53 years, is a Promoter and Managing Director of the company, having more than 22 years of multi-faceted experience in Manufacturing, Production, Procurement, Marketing in the Engineering and Agrochemical Industry. He has completed his SSC exams form the Gujarat Secondary Education Board, Gandhinagar. He is having 30 years of experience in agro chemical business. In the company he is taking care of production, research, QC & marketing department. ii. Ashvin Lunagaria aged 58 years, is a founder Promoter and Whole Time Director of the company. He holds a bachelor’s degree in Science (Physics) from the Saurashtra University. He is having wide experience in chemical industry. He is having 35 years of experience in agro chemical business. In the company he looks after administration, accounts, finance & legal department. iii. Chunilal Virolia aged 55 years, is a Whole Time Director of the company. He holds a bachelor’s degree in Science (Agriculture) from the Gujarat Agricultural University. Previously, he was working with E.I.D. Parry (India) Limited as Marketing Executive for entire Gujarat Except Saurashtra Region. Later on join in United Phosphorus Limited as an Area Manager of Baroda region for 21 years Then after he joined Crystal Crop Protection Pvt Ltd as a Regional Business Manager, Ahmedabad Region. He has over all 30 years of experience in various aspects of agro chemical industry.

Financials of Crop Life Science Limited IPO:

Particular(in Cr) FY21 FY22 FY23
Revenue 119 102 123
Cost of Material Consumed 71 59 88
Employee Benefit Expenses 11.06 10.88 9.64
Change in Inventory -3.24 0.76 -0.3
Other Expenses 31.57 23.98 14.65
EBITDA 9.31 8.09 11.39
Other Income 0.57 0.38 0.69
PAT 3.7 2.81 4.37

Recommendation on Crop Life Science Limited IPO:

Lead Manager of Crop Life Science Limited IPO:

  1. Interactive Financial Services

Registrar of Crop Life Science Limited IPO:

  1. Purva Sharegistry India Private Limited

Company Address:

Crop Life Science Limited 209, Near Judges Bunglow Cross Road, Bodakdev, Ahmedabad – 380015 Phone: 079-40373967 Email: Website:

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