Amir Chand Jagdish Kumar (Exports) Limited is engaged in the processing and export of basmati rice and the marketing of FMCG products in India. The company benefits from over four decades of industry experience through its promoters, who have been associated with the basmati rice trade and export sector. The company operates across the basmati rice value chain, including procurement of paddy, storage, milling, processing, packaging, marketing and distribution.
The company’s product portfolio is broadly categorised into two segments: rice and FMCG products. The rice segment primarily includes basmati rice along with other speciality rice varieties such as kolam rice, sona masuri, idli rice, and ponni rice, with basmati rice contributing the majority of revenue. These products are marketed under the flagship brand “AEROPLANE” along with several sub-brands catering to different price segments and customer categories. In addition, the company has diversified into FMCG staples such as atta, maida, sooji, besan, salt, and sugar, which are primarily sold in the domestic market.
The company sells its products through a distribution network comprising distributors, institutional buyers, retail chains, and online platforms. As of February 28, 2026, the company exports its products to more than 38 countries. Its operations are supported by three manufacturing, processing, and packaging facilities located in Punjab, Haryana, and Delhi.
Use of proceeds:
This is a fresh issue of shares. Therefore, the net proceeds from the fresh issue will go to the company. They will be utilised for the following purposes:
Funding the working capital requirement of the company – Rs 400 crore
General corporate purposes
;
Founded in
2003
MD/CEO
Mr. Jagdish Kumar Suri
Parent organisation
Amir Chand Jagadish Kumar Exports Ltd
Amir Chand Jagdish Kumar Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to have an established presence in the basmati rice industry with its flagship brand “Aeroplane,” which has been in the market for over four decades. The brand portfolio includes more than 40 sub-brands catering to different consumer segments and price categories. As per the company-commissioned CARE Report, the company ranks third among its peers in terms of revenue. The established brand recognition, diversified product offerings, and presence in both domestic and international markets contribute to the company’s market position.
The company claims to have developed a procurement network across basmati paddy-producing regions of northern India through relationships with procurement agents and market participants. Its manufacturing and processing facilities, located in Punjab and Haryana, along with a packaging facility in New Delhi, are situated close to key basmati paddy-producing areas. This geographical proximity enables efficient procurement, reduces transportation costs, and supports the timely availability of raw materials for processing operations.
The company claims to operate an integrated business model covering procurement of paddy, storage, milling, processing, packaging, branding, and distribution. This integrated structure allows greater operational control across the value chain and supports supply chain coordination and inventory management. The company also maintains quality control procedures across procurement, processing, and packaging stages, supported by dedicated quality assurance personnel and certifications including FSSAI licensing, ISO 22000:2018 and HACCP accreditation.
The company claims to have established a wide distribution network across India, enabling it to reach a broad consumer base through multiple sales channels. Its business-to-consumer (B2C) operations are supported by general trade, modern retail, and e-commerce channels. As of February 28, 2026, the company had 431 distributors in India. The distribution network facilitates market penetration, efficient product availability, and coordination with distributors for inventory management, market feedback, and pricing strategies.
The company claims to export its products to multiple international markets and has been recognised as a three-star export house by the Ministry of Commerce & Industry. Its exports are supported by a network of distributors across overseas markets, particularly in the Middle East. As of February 28, 2026, the company had 53 distributors outside India and exported products to more than 38 countries, contributing significantly to its revenue from operations.
The company and its promoters are currently involved in legal proceedings, including criminal proceedings and material civil litigation. Any adverse judgment in any of these cases can harm the company's operations.
The company’s packaging unit and that of its subsidiary in Delhi are located in non-conforming industrial areas under the Delhi Master Plan 2021. Such areas are subject to redevelopment norms and regulatory approvals. If the required clearances are not obtained or redevelopment is not completed within prescribed timelines, the company may be required to relocate operations or discontinue activities at these locations, which could disrupt operations and increase costs.
The company’s operations are significantly dependent on basmati paddy, which is the primary raw material for its rice products. Rice products contributed Rs 1,012.12 crore (99.39%) for the six months ended September 30, 2025; Rs 1,965.11 crore (99.07%) for FY25; Rs 1,509.45 crore (99.04%) for FY24; and Rs 1,284.71 crore (98.73%) for FY23. Any shortage in supply or fluctuations in paddy prices could adversely affect production costs and profitability.
The company requires substantial working capital for the procurement of basmati paddy during the harvest season, typically between September and January. Since most raw materials are procured during this period, any inability to secure adequate financing or procure paddy at favourable prices may adversely affect operations and financial performance.
The company relies on procurement agents to source basmati paddy for its processing requirements and does not have long-term contracts with such agents, engaging them primarily through purchase orders. Any failure by these agents to procure adequate quantities of paddy of the required quality or at commercially favourable prices may adversely affect operations. The top 10 procurement agents accounted for Rs 523.64 crore (64.83%), Rs 930.50 crore (50.90%), Rs 819.40 crore (55.76%), and Rs 724.77 crore (66.61%) of total purchases for the six months ended September 30, 2025, and FY25, FY24, and FY23, respectively.
The company has significant borrowings to support its operations. As of September 30, 2025, total borrowings stood at Rs 739.74 crore, compared with Rs 784.06 crore in FY25, Rs 777.62 crore in FY24 and Rs 667.53 crore in FY23. The company’s debt-to-equity ratio stood at 1.68 as of September 30, 2025. Any inability to service debt obligations or comply with financing covenants could adversely affect the company’s business operations, cash flows, and financial condition.
As of the period ended September 30, 2025, the company had contingent liabilities amounting to Rs 65.46 crore. If any of these liabilities materialise, it could adversely affect the company’s financial condition.
Application details
For Amir Chand Jagdish Kumar IPO, eligible investors can apply as Regular.
Apply as
Price band
Apply range
Lot size
Regular
₹201 - ₹212
Upto ₹2 Lakhs
70
High Networth Individual
₹201 - ₹212
₹2 - ₹5 Lakhs
70
About
Objective of Amir Chand Jagdish Kumar IPO
Objective Category
Description
Amount / Notes
Working Capital Requirements
Funding day-to-day operational needs such as procurement of paddy, inventory management, receivables, and payables (especially important due to seasonal nature of basmati rice business).
~₹400 crore allocated from IPO proceeds
General Corporate Purposes
For business needs like brand building, administrative expenses, and other strategic initiatives.