SSMD Agrotech India Limited IPO
SSMD Agrotech India Ltd., operating under the umbrella brand House of Manohar (HOM), is a growing FMCG player engaged in the manufacturing, trading, and repacking of agro-food products. The company offers a wide portfolio of staples, specialty grains, value-added powdered foods, and roasted snacks through four brands: Manohar Agro, Super S.S., Delhi Special, and Shri Dhanlaxmi. SSMD has evolved from a family-run business into a professionally managed public company with strong manufacturing capabilities and a rapidly expanding market presence.
Business Model
1) Distributor-Led B2B & Retail Supply
– Strong presence across Delhi/NCR, Uttar Pradesh, Haryana, Punjab, and Uttarakhand.
– Structured distributor selection, onboarding, retail outreach, and a scalable hub-and-spoke logistics model.
– Two-tier distribution system: Primary distribution (factories to warehouses) → Secondary distribution (warehouses to retailers/institutions).
2) Direct-to-Consumer (D2C) Model
– Uses Dark Unit Factories, micro-manufacturing and delivery hubs that produce fresh food essentials.
– Offers 10-minute hyperlocal delivery of freshly processed staples (flours, spices, oils, pulses, rice, etc.).
– First D2C unit launched in February 2025 in Vaishali, Ghaziabad.
Product Portfolio
i) Value-added staples: Gram Flour, Chana Dal, Matar Flour, Chana Sattu, Idli Rava, Rice Powder
ii) Puffed snacks & cereals: Puffed Rice, Ramdana (Cholai)
iii) By-products of dal processing: Chana Chilka, Chana Churi, Chana Khanda
iv) Repacked essentials: Suji, Maida, Dalia, Poha, Roasted Chana, Seviyan, Rice, Pulses, & more
Competitive Strengths
i) Comprehensive Manufacturing Network: Multiple units ensure scale, quality, and quick delivery.
ii) Wide Product Portfolio: Diverse offerings serve varied markets and boost demand.
iii) Efficient Resource Utilization: By-products reused to reduce waste and increase revenue.
iv) Strong Leadership: Experienced promoters drive growth and industry relationships.
Objects of the SSMD Agrotech India Limited IPO:
SSMD Agrotech India Limited IPO Details:
| Open Date: | Nov 24 2025 |
| Close Date: | Dec 26 2025 |
| Total Shares: | 28,17,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 33.80 Cr. |
| Lot Size: | 1000 Shares |
| Issue Price: | ₹ 114-120 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Dec 01 2025 |
Promoters And Management:
Financials of SSMD Agrotech India Limited IPO:
| Particulars | 6M FY2025-26 | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations (Cr) | 52 | 99 | 73 | 49 |
| EBITDA (Cr) | 5.78 | 8.46 | 3.22 | 1.26 |
| EBITDA Margins | 11.10% | 8.54% | 4.40% | 1.66% |
| PAT (Cr) | 3.83 | 5.37 | 1.23 | -0.37 |
| PAT Margins | 7.36% | 5.42% | 1.50% | -0.01% |
| ROCE | 46.84% | 100.85% | 109.41% | 105.30% |
| Debt to Equity Ratio(In Times) | 0.64 | 0.88 | 5.3 | 9.06 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| SSMD Agrotech India Limited | 99 | 8.54% | 5.42% | 100.85% | 0.88 | 103.99 | 19.36 |
| HOAC Foods India Limited | 26.43 | 15.59% | 9.42% | - | 0.06 | 143 | 41.80 |
| Contil India Limited | 32.57 | 8.23% | 7.77% | 32% | 0 | 44 | 20.4 |
| Jetmall Spices and India Limited | 0.74 | -96% | -100.0% | -7.6% | 0 | 26.4 | - |
| NOTE:Forward P/E is 13.6 According to FY 2026 PAT | |||||||
Lead Manager of SSMD Agrotech India Limited IPO:
Registrar of SSMD Agrotech India Limited IPO:
Discussion on SSMD Agrotech India Limited IPO:
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