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Freshara Agro Exports IPO
Freshara Agro Exports Limited
₹1,32,000 /1200 sharesMinimum Investment
Freshara Agro Exports IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹116.00 | ₹135.00 | ₹19.00 (16.38%) |
Freshara Agro Exports IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 17 Oct ‘24 - 21 Oct ‘24 | ₹1,32,000 | 1,200 | ₹110 - ₹116 |
| Issue Size | IPO Doc |
|---|---|
| 75.39Cr | RHP PDF |
About Freshara Agro Exports
Founded in
2015
Managing director
Mr. Junaid Ahmed
Parent organisation
Freshara Agro Exports Limited
Strengths & Financials of Freshara Agro Exports
Strengths
Risks
The company holds certifications from several organisations, including the Food Safety and Standards Authority of India (FSSAI), United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, and Brand Reputation through Compliance Global Standard (BRCGS), ensuring that all its products meet or exceed industry standards and help in exporting to countries like Russia, the US, the UK, various countries in Europe, the Middle East, etc.
The company has been recognised as a 100% export house by the Ministry of Commerce & Industry, Government of India.
Freshara Agro Exports claims to secure steady supply of top-quality vegetables through strategic partnerships with local farmers in Tamil Nadu, Karnataka, and parts of Andhra Pradesh, facilitated through its contract farming program.
The company claims to operate modern production facilities equipped with the latest machinery, upholding the highest industry standards. These facilities follow strict hygiene and safety protocols, ensuring the integrity and purity of the products throughout every phase of the manufacturing process.
The company has recorded a consistent rise in profit after tax (PAT). PAT increased from Rs 0.97 crore in FY22 to Rs 9.08 crore in FY23 to Rs 9.97 crore in FY24.
The company is involved in ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business.
A large portion of the company's revenue comes from gherkin sales. This contributed Rs 164.44 crore (84.9%), Rs 117.82 crore (93.5%), and Rs 107.08 crore (96.2%) in FY24, FY23, and FY22 to the revenue from operations, respectively. Any failure to procure the required amount of raw material, maintain product quality, or fulfil customer demand concerning these products can adversely affect the company’s operations and finances.
Inadequate storage, processing, or handling of products like gherkins, baby corn, banderilla, chillies, and bell peppers may lead to spoilage and product damage, potentially harming the company's business operations and financial standing.
A significant share of Freshara’s revenue comes from international customers, particularly Russia, which is currently involved in a conflict with Ukraine. Russia contributed Rs 45.02 crore (23.23%), Rs 41.60 crore (33.02%), and Rs 42.58 crore (38.26%) in FY24, FY23, and FY22 to the revenue from operations, respectively. Any disruptions due to the war or strained relations between the countries can hinder Freshara’s export operations and revenues.
The company’s revenue is dependent on its top 10 customers. These customers contributed 43.50%, 42%, 42%, and 53% to the revenue from operations for the six months ending September 30, 2024, FY24, FY23, and FY22, respectively. Any loss of these major customers or a failure to retain them can be detrimental to the company’s revenue generation capabilities.
A substantial portion of Freshara's sales come from international markets, with countries like Russia, Spain, Iraq, Chile, Italy, France, Canada, Croatia, Algeria, Saudi Arabia, Mexico, Germany, Kazakhstan, China, and Belarus contributing 99.80% of revenue for the period ending 30 September 2024, and 95.25%, 88.87%, and 93.11% for FY24, FY23, and FY22, respectively. Any adverse developments in these countries or a failure to meet the expectations of international clients may result in a loss of revenue, affecting the company’s financial performance.
As of September 30, 2024, Freshara Agro Exports had unsecured loans of Rs 20.62 crore and secured borrowings of Rs 85.63 crore, adding up to Rs 106.25 crore. Any inability to repay or service these loans can harm the company’s financial standing.
Freshara Agro Exports Financials
*All values are in Rs. Cr
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Application Details of Freshara Agro Exports IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹110 - 116 | ₹2 - 5 Lakh |
| High Networth Individual | ₹110 - 116 | ₹2 - 5 Lakh |
For Freshara Agro Exports IPO, eligible investors can apply as Regular.