Vishwas Agri Seeds Limited IPO
Vishwas Agri Seeds Ltd began its journey with a modest seed processing unit. Today, it stands as a prominent player in the agriculture sector, processing high-quality seeds and distributing them to farmers across India under the brand name “Vishwas.” Through years of dedicated service and innovation, Vishwas Agri Seeds has established itself as a trusted name in the agriculture industry, offering a wide range of crop seeds to cater to the diverse needs of the farming community.
Evolution and Expansion
The company’s genesis was marked by the establishment of a small-scale seed processing unit in Gondal, Rajkot. With a commitment to quality and excellence, Vishwas Agri Seeds quickly expanded its operations. In June 2023, the company moved from its initial Rajkot unit to a larger, more technologically advanced facility in Ahmedabad. This new seed processing unit, along with a warehouse and cold storage facility, is set on a 5-acre plot, signifying the company’s growth and its forward-looking vision.
Technological Advancements
The Ahmedabad facility is a testament to Vishwas Agri Seeds’ commitment to innovation. Equipped with optical sorting machines, the unit ensures that only the best seeds, free from defects and impurities, reach the farmers. The seeds are further treated with fungicides and insecticides, safeguarding them against pathogenic organisms and storage insects. This meticulous process underscores the company’s dedication to delivering high-quality seeds.
Infrastructure and Facilities
To support its expanding operations, Vishwas Agri Seeds availed a term loan of Rs. 11.51 Crores from HDFC Bank for constructing the factory shed, cold storage, warehouse, and for acquiring seed processing machinery. The facility boasts warehousing capabilities to store 4200 MT of stock and a cold storage capacity for 3000 MT, ensuring the longevity and quality of the seeds. Plans are also in motion to establish a corporate office and an in-house seed testing laboratory within the premises, further enhancing the company’s product quality and innovation.
Quality and Diversity
Vishwas Agri Seeds’ portfolio is as diverse as it is extensive, with seeds for over 40 different field crops and vegetables. The company prides itself on offering more than 75 varieties of crops, including groundnut, soybean, wheat, cumin, and research hybrid seeds for cotton, castor, and maize, among others. This diversity reflects the company’s aim to meet the varied requirements of the Indian agriculture sector, ensuring farmers have access to the best seeds for their fields.
Distribution Network and Reach
As of March 31, 2023, Vishwas Agri Seeds has established a robust sales and distribution network, making its presence felt in Gujarat, Maharashtra, and Rajasthan. This extensive network ensures that high-quality seeds are accessible to farmers across these states, supporting their efforts to achieve better crop yields and contributing to the overall growth of the agriculture sector in India.
Conclusion
Vishwas Agri Seeds Ltd embodies the spirit of innovation, quality, and commitment to the agriculture sector. With its state-of-the-art processing unit, expansive product range, and a strong distribution network, the company is poised to continue its journey of growth, contributing significantly to India’s agricultural prosperity.
Objects of the Vishwas Agri Seeds Limited IPO:
Vishwas Agri Seeds Limited IPO Details:
Open Date: | Mar 21 2024 |
Close Date: | Mar 26 2024 |
Total Shares: | 3,000,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Size: | 25.80 Cr. |
Lot Size: | 1600 Shares |
Issue Price: | ₹ 86 Per Equity Share |
Listing At: | NSE Emerge |
Listing Date: | Mar 29 2024 |
Promoters And Management:
Financials of Vishwas Agri Seeds Limited IPO:
Particulars ( In Lakhs ) |
2021 |
2022 |
2023 |
6M-FY24 |
Revenue from Operations | 5,382 | 6,486 | 6,531 | 4,246 |
Other Income | 0.3 | 0.2 | 1 | 1 |
Total Revenue | 5,383 | 6,486 | 6,532 | 4,247 |
Cost of materials consumed | 4,650 | 4,824 | 4,875 | 3,311 |
Changes in inventory | -386 | 251 | -114 | -233 |
Employees Benefit Expenses | 308 | 180 | 313 | 148 |
Other Expenses | 575 | 783 | 658 | 311 |
EBITDA | 234 | 447 | 801 | 710 |
Depreciation & Amortisation | 9 | 12 | 10 | 15 |
Finance cost | 64 | 104 | 77 | 90 |
EBIT | 225 | 435 | 791 | 695 |
OPM (%) | 4.35% | 6.90% | 12.26% | 16.71% |
PBT | 161 | 331 | 714 | 605 |
Tax | 45 | 83 | 180 | 153 |
PAT | 116 | 248 | 534 | 451 |
NPM (%) | 2.16% | 3.82% | 8.18% | 10.62% |
No.of Shares | 100.00 | 100.00 | 100.00 | 100.00 |
EPS | 1.16 | 2.47 | 5.34 | 4.51 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Vishwas Agri Seeds Limited | 65 | 5 | 5.34 | 16.1 | 86 | 86 |
Bombay Super Hybrid Seeds Limited | 228 | 17 | 1.60 | 100.0 | 201 | 2,109 |
Kaveri Seed Company Limited | 1,068 | 273 | 48.59 | 12.9 | 655 | 3,661 |
Upsurge Seeds of Agriculture Limited | 83 | 5 | 6.74 | 28.1 | 291 | 205 |
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