Gurunanak Agriculture India Limited IPO

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Business Overview

Gurunanak Agriculture India Limited is engaged in the manufacturing of agricultural machinery, offering products such as Threshers (Paddy, Groundnut, Wheat, Maize, Multi-crop), Harvesters, Reapers, Rotavators, and Cultivators. A major milestone was the launch of the Combined Harvester, which has gained strong customer acceptance due to its advanced features, efficiency, and reliability, reflecting the trust customers place in the brand.

Expansion Strategy

To meet rising demand, the company is undertaking a strategic expansion of its production capacity. The new manufacturing infrastructure will support annual production of 300 harvesters, 4,000 threshers, and 4,000 other implements (rotavators, reapers, cultivators, etc.). This expansion is aimed at positioning the company as a market leader in agricultural machinery while maintaining high quality and innovation standards.

Business Model & Revenue Streams

1. Sale of Agricultural Machinery: Primary source of revenue from sales of threshers, harvesters, reapers, rotavators, and cultivators. Recent surge in demand for Combined Harvesters adds strong growth momentum.

2. Product Diversification: Multiple product categories (paddy thresher, maize thresher, groundnut thresher, etc.) catering to different crop segments. It Allows the company to tap diverse farming markets across India.

3. Future Upside: Increased production capacity (300 harvesters, 4,000 threshers, 4,000 other implements annually) will directly translate into higher revenue potential. Potential expansion into exports and bespoke machinery based on R&D outputs.

Product Portfolio:

Paddy Thresher, Paddy Multicrop Thresher, Double Drum Multicrop Thresher, Lower Drum Multicrop Thresher, Wheat Thresher, Wheat Multicrop Thresher, Groundnut Thresher, Groundnut Multicrop Thresher, High Capacity Multicrop Thresher, Electric Thresher, Maize Thresher, Combine Harvester, Electric Reaper, and Rotavator.

Core Strengths

i) Strong Product Portfolio: Wide range of agricultural machinery addressing multiple crop needs.
ii) Market Acceptance: Rapid success of the Combined Harvester, showcasing customer trust.
iii) Scalable Manufacturing: Ongoing capacity expansion ensures ability to meet growing demand.
iv) R&D Capability: Focus on technological advancements and tailored machinery for evolving farming needs.
v) Experienced Management: Proven ability to scale operations, innovate, and respond to customer feedback.
vi) Customer-Centric Approach: High emphasis on quality, efficiency, and affordability, driving loyalty.

Objects of the Gurunanak Agriculture India Limited IPO:

The company intends to use the fresh issue towards the following object: 1.Funding Capital Expenditure towards setting up Harvester Manufacturing Unit (Rs. 17.06 Cr) 2.Working Capital Requirements (Rs. 6.7 Cr) 3.Issue Related Expenses (Rs. 2.9 Cr) 4.General Corporate Expenses (Rs. 2 Cr)

Gurunanak Agriculture India Limited IPO Details:

Open Date: Sep 24 2025
Close Date: Sep 26 2025
Total Shares: 38,40,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 28.80 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 75 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 01 2025

Promoters And Management:

1.Harjeet Singh – Managing Director, aged 48, is the Managing Director of the Company. He holds a B.Tech degree from Bundelkhand University, Jhansi (1998) and has 14 years of business experience. He has been associated with the Company since its incorporation and was re-designated as Managing Director on September 23, 2024, for a term of three years (till September 22, 2027). He provides strategic leadership, oversees overall operations, and plays a pivotal role in guiding the Company’s growth. 2. Jaspreet Kaur – Whole Time Director, aged 44, serves as the Whole Time Director. She holds a Bachelor of Arts degree from Punjab University (2001) and has 9 years of business experience. She joined the Company on June 1, 2024, and was re-designated as Whole Time Director on September 23, 2024, for a three-year term (till September 22, 2027). She contributes to operational management and business expansion. She also holds a directorship in Gurunanak Ventures Private Limited. 3. Kamaljeet Singh Kalsi – Non-Executive Director, aged 23, is a Non-Executive Director. He completed his Secondary Education at N H Goel World School and has gained 6 years of business experience at a young age. He was appointed as an Additional Director on September 23, 2024, and regularised as Non-Executive Director on September 30, 2024. He also serves as a director in Gurunanak Ventures Private Limited.

Financials of Gurunanak Agriculture India Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 43.85 44.01 38.97
EBITDA (Cr) 9.75 5.36 2.52
EBITDA Margins 22.23% 12.20% 6.48%
PAT (Cr) 6.05 2.45 0.6
PAT Margins 13.81% 5.57% 1.56%
ROCE 63.88% 47.46% 26.29%
Debt to Equity Ratio(In Times) 0.38 1.7 1.77
Operating Cash Flows (Cr) 2.04 1.14 6.07

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Gurunanak Agriculture India Limited 43.85 22.23% 13.81% 63.88% 0.38 90 14.88
Indo Farm Equipment Limited 368 16% 6.52% 7.74% 0.33 1,257 47.4

Lead Manager of Gurunanak Agriculture India Limited IPO:

  1. Finshore Management Services Limited

Registrar of Gurunanak Agriculture India Limited IPO:

  1. Cameo Corporate Services Limited

Discussion on Gurunanak Agriculture India Limited IPO:

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