Mr. Yogesh Laxman Rajhans is a pioneering entrepreneur and a co-founder of M/s. THE BEST INDIA, a partnership firm established in 2000. With strategic acumen and determination, he played a pivotal role in the firm's evolution from a Yeast processing unit to a leading player in the food processing industry. Under his guidance, the firm has expanded its operations, utilizing state-of-the-art technology and adhering to ISO 22000:2018 standards. Mr. Rajhans' vision has propelled the firm's products into both domestic and international markets, establishing strategic collaborations with major industry players. His commitment to innovation and quality has been instrumental in the firm's continued success and growth. Mr. Ninad Anand Yedurkar, an Instrumentation Engineering graduate with an MBA in Finance from NMIMS, Mumbai, honed his management skills at Citigroup in Mumbai and London. After over four years at Citibank UK, he returned to India and founded AceGrads, guiding over 15,000 students from rural and urban areas into top post-graduate courses and global corporations. At Wharton Business School, he incubated Prajwal Bharat, revolutionizing LED street lighting in Maharashtra. His initiative, Future Infinite, identifies and nurtures children's talents aged 7-14, while Aon Aquaculture uses bio-floc technology for sustainable fish production. As CFO of TBI Corn Ltd., he streamlines financial strategies to overcome working capital challenges. Ninad exemplifies entrepreneurial spirit, innovation, and sustainability across diverse sectors. Mrs. Asha Laxman Rajhans is a visionary leader and a cornerstone of The Best India group's success story. Since the firm's inception in 2000, she has played an instrumental role in shaping its trajectory. Her unwavering confidence in Mr. Yogesh and his vision for establishing a thriving unit in the maize industry has been the driving force behind TBI's achievements. In the early stages, Asha Ji took charge of support and maintenance staff, setting stringent standards for hygiene and cleanliness that remain integral to the organization's ethos. As TBI expanded, she took on the responsibility of recruiting, orienting, and integrating new staff into the existing structure, fostering a cohesive workforce. Asha Ji's dedication, leadership, and commitment to excellence have not only propelled TBI to new heights but have also inspired its promoters and employees to emulate her spirit of relentless pursuit of excellence. Under her guidance, The Best India group continues to thrive and set new benchmarks in the industry.

Review and Recommendation of TBI Corn by team IZ is 6/10. 1. TBI Corn Limited started with the vision of establishing a significant presence in the corn industry. Initially focused on yeast processing, the company gradually diversified its operations to include the production of various corn-based products. 2. Product Range: The company specializes in producing high-quality corn/maize grits and related products, including: i. Corn Grits           ii. Corn Bran             iii. Broken Maize         iv. Processed Indian Yellow Maize v. Corn Flour         vi. Corn Flakes         vii. Corn Germ 3. Market Presence and Expansion: With a strong presence in both domestic and international markets, TBI Corn Limited serves countries in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and is planning to expand into Europe and the US. The company has multiple units in MIDC Miraj, Maharashtra, equipped with modern machinery, occupying a total area of 15,812 SQMT (1,70,200 Sq. ft.). 4. SWOT Analysis: Strengths: i. Strong demand for products exceeding production capacity. ii. Abundant supply of raw materials. iii. Over 25 years of industry expertise. iv. Strategic location in Sangli, a prominent maize market. v. Deep knowledge of corn price fluctuations. vi. Strong customer relationships and increasing export sales. Weaknesses: i. Reliance on manual processes. ii. Lack of dedicated R&D facilities. iii. Missed opportunities to enhance by-products. iv. Limited funds for bulk purchasing advantages. v. Underutilization of corn bran potential. Opportunities: i. Adoption of automation for waste reduction and cost savings. ii. Attraction of quality-conscious clients, including MNCs. iii. Exploration of ethanol production for additional revenue streams. iv. Emphasis on value addition to by-products. v. Significant cost reduction opportunities by relocating closer to production and client locations. Threats: i. Labour issues impacting production efficiency. ii. Vulnerability to natural calamities and climate shifts. 5. Competitive Landscape: Despite facing competition from both organized sectors and regional players, TBI Corn Limited has maintained steady growth through strategic operational policies and a strong focus on quality. The company’s extensive experience and commitment to quality services have enabled it to establish a trusted name in the corn milling industry. 6. The Revenue has Increased from Rs.67 Crores in FY21 to Rs.139 Crores in FY23. 7. The EBITDA has Increased from 2 Crore in FY21 to 12 Crores in FY23. 8. The PAT has Increased from 24 Lakhs in FY21 to 6 Crores in FY23. 9. As per FY23, CFO/EBITDA is 0.79, As per FY24, EPS is 5.62, 10. Market Capitalization is 171 Crore & P/E is 16.70x based on FY24.

TBI Corn Limited A5/3 & A5/4, MIDC, Miraj, Tal- Miraj Dist- Sangli 416410 Phone: (0233) 2644950 Email: cs@tbicorn.com Website: https://tbicorn.com/