i. Pranav Kailas Bagal, aged 22 years is the Promoter & Managing Director of the Company. He has completed Diploma in Agriculture from National Backward Krushi Vidhyapeeth, Solapur, Maharashtra. He has around six years of experience in the field of Marketing of Agriculture inputs, managing customer relations and trade terms, managing manufacturing and supply chain strategies, managing costs and establish strategic partnerships with farmers, vendors and service providers etc. He has been associated with the Company as Director since August 2020 and has been elevated to Managing Director’s position in October 2022. Prior to starting the Company, he has done Agri-inputs business in Proprietary concern M/s. Nirman Agri Genetics from 2018 till the time same is taken over by the Company and before that he has worked as Marketing Manager with Shivam Krushi Sheti Udhyog Kendra engaged in whole sale and retail distribution of seeds, pesticides, fertilisers and agriculture related equipments. He is currently responsible for managing marketing and business development functions of the Company. ii. Avinash Bhimrao Bagal, aged 47 years is the Non-Executive Director of the Company. He is an under graduate. He has around 25 years of experience in the field of Agriculture. He has run his own proprietorship by the name of M/s. Shivam Krushi Sheti Udhyog Kendra engaged in whole sale and retail distribution of seeds, pesticides, fertilisers and agriculture related equipments since 1997 creating a reliable name amongst farmers. He has been associated with the Company as Director since November 2022. He is assisting the Company in creating a trusted names amongst farmers and suppliers. iii. Prakash Narayandas Sawana, aged 51 years is the Independent Director of the Company. He is a Law graduate from Nagpur University. He has around 25 years of experience of handling legal, financial and intellectual property matters. He has been associated with the Company as Director since October 2022 and has been appointed as Independent Director’s position to meet with corporate governance requirements. He will be assisting the Company in the field of compliance and legal matters.

Name of the Company	Revenue (Cr)	Profit (Cr)	P/E	EPS	CMP	Mcap (Cr)
Nirman Agri Genetics	30	4	14.94	6.63	99	59
Upsurge Seeds of Agriculture	59	0.28	61	7.68	326	230
Bombay Super Hybrid Seeds	222	16	155	1.54	241	2,525
Shreeoswal Seeds and Chemicals Limited	262	5	94.5	3.17	337	514

Note: Financials of Fy23 is taken for comparison with Nirman Agri Genetics except for Upsurge Seeds of Agriculture for which Fy22 data is taken.  

Review and Recommendation of Nirman Agri Genetics by IZ team is 5/10 1. Nirman Agri Genetics Ltd, an organised Indian agri-input company, produces, processes, and markets high-quality hybrid seeds, pesticides, bio-organic, and micronutrients for maize, sunflower, cotton, paddy, grain sorghum, and others. Non-hybrid paddy seeds are also produced. 2. With their Company and Promoter's Proprietary concern, they have over four years of seed business expertise and are aiming to develop seeds with high production potential, drought tolerance, pest and disease resistance, etc. 3. Production, outsourced processing, and R&D facilities are in Nashik, Nimgul, Gujarat, and Madhya Pradesh. They aim on creating better hybrids of corn, cotton, sunflower, paddy, bajra, and other crops. 4. Their R&D team markets all seed variants under the brand name "Nirman Agri Genetics." They expect their R&D facilities to boost their company. 5. "Nirman Agri Genetics" began selling bio-pesticides, bio-fertilizers, micronutrients, fertiliser combinations, and plant growth regulators in 2022. 6. Their Products :- i. Sunflower                           ii. Corn                                  iii. Cotton iv. Bajra                                   v. Okra                                  vi. Tomato vii. Paddy                            viii. Grain Sorghum                ix. Watermelon x. Mustard                             xi. Castor                              xii. Chilies 7. Much of the Indian seed market is unorganised and fragmented with many small and medium-sized companies. Commercial seed firms compete with other seed companies, agrochemical companies, subsidiaries or divisions of huge multinational corporations, and domestic competitors. 8. They compete with other seed makers on availability, range, qualities, including disease and pest tolerance, price, reputation, regional demands, customer service, and convenience. 9. They compete domestically and internationally in specific sectors, segments, subsegments, and locations. Quality, cost, delivery, technological capability, etc. are competition factors. Each crop has different competition. 10. The Revenue has Increased from Rs.2 Crore in FY20 to Rs.18 Crore in FY22. 11. The EBITDA has Increased from 15 Lakhs in FY20 to 3 Crore in FY22. 12. The PAT has Increased from 13 Lakhs in FY20 to 2 Crore in FY22. 13. As per FY22, Debtors Days is 92. 14. As per FY22, EPS is 4.57,  Market Capitalization is 59 Crore & P/E is 21.64x.  

Nirman Agri Genetics Limited Vedant Apartment, Near Reliance Shopee, Dindori Road, Panchavati, Nashik – 422 003 Phone: +91 253 2943101 Email: cs@nirmanagrigen.com Website: http://www.nirmanagrigen.com/