M.V.K. Agro Food IPO

M.V.K. Agro Food Product Ltd

₹1,44,000 /1200 sharesMinimum Investment

M.V.K. Agro Food IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹120.00₹79.00-₹41.00 (34.17%)

M.V.K. Agro Food IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
29 Feb ‘24 - 4 Mar ‘24₹1,44,0001,200₹120 - ₹120
Issue SizeIPO Doc
65.88Cr
RHP PDF

About M.V.K. Agro Food

M.V.K. Agro Food Product Ltd is an integrated sugar and allied products manufacturing company located in Nanded District, Maharashtra. It operates a singular location sugar unit with a licensed crushing capacity of 2,500 TCD. The company’s business is divided into two segments: Sugar and its by-products/waste products. Apart from sugar production, the company commercializes and sells Molasses, Bagasse, and Pressmud as by-products and waste products. Additionally, it is involved in power generation for captive consumption.;
Parent Organisation
M.V.K. Agro Food Product Ltd
Founded
2018
Managing Director
Mr. Marotrao Vyankatrao Kawale

Strengths & Risks

  • The company markets and sells its sugar through relationships with brokers. These brokers, in turn, distribute the products to various industrial sectors, including FMCG manufacturers such as PepsiCo Holdings India Private Limited, Parle Biscuits Private Limited, Britannia Industries Limited, etc.
  • The company has integrated operations, under which, residual materials and by-products from one production process are utilized for power generation and commercially supplied to third parties for sustainable product manufacturing.
  • The company has a single-location sugar unit having a licensed crushing capacity of 2,500 TCD. Its manufacturing facility is also equipped to segregate its by-products and waste products, namely, Molasses, Bagasse and Pressmud and the generation of power for captive consumption.
  • As per the company, it has approximately 177 villages allotted to it under the cane area allotment order by the Sugarcane Commissioner. These are located in the vicinity of its factory unit.
  • The company has installed a power plant with electricity generation capacity of 3 MW from Bagasse. As per the information contained in RHP, the company’s entire electricity requirement during the crushing season is met out of the electricity generated by it in-house by use of Bagasse.
  • The company has limited experience in manufacturing Ethanol, Bio-CNG, and Fertilizer, restricting exposure beyond the existing product portfolio. This limitation may pose challenges in assessing past performance and prospects in these areas.
  • The company's products have limited inadequate brand presence and awareness, with a geographical reach confined to the State of Maharashtra.
  • The company's lenders have a charge over both movable and immovable properties, including the site designated for the new manufacturing unit, in connection with the financing obtained by the company.
  • The company has availed certain unsecured loans which may be recalled at any time.
  • The company has outstanding litigations involving its directors, promoters, subsidiary, and group companies. Adverse determinations in these cases may have implications for the company's business and financial condition.
  • The company has experienced negative cash flow in the past and may continue to do so in the future, which could have a material adverse effect on its business, prospects, financial condition, cash flows and results of operations. Net cash flow from operating activities was Rs. (19.27) cr, Rs. (13.96) cr in FY 2021 and FY 2023 respectively.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular120 - 120₹2 Lakh
High Networth Individual120 - 120₹2 - 5 Lakh
For M.V.K. Agro Food IPO, eligible investors can apply as Regular.
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