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Vishwas Agri Seeds IPO
Vishwas Agri Seeds Limited
₹1,37,600 /1600 sharesMinimum Investment
Vishwas Agri Seeds IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 21 Mar ‘24 - 26 Mar ‘24 | ₹1,37,600 | 1,600 | ₹86 - ₹86 |
| Issue Size | IPO Doc |
|---|---|
| 25.80Cr | RHP PDF |
About Vishwas Agri Seeds
Founded in
2009
Managing director
Mr. Ashokbhai Sibabhai Gajera
Parent organisation
Vishwas Agri Seeds Limited
Strengths & Financials of Vishwas Agri Seeds
Strengths
Risks
As per the company, its seeds processing unit has automated sorting, grading, and packing machines, along with warehousing and cold storage facilities. Its plant is strategically located for efficient logistics.
The company offers a wide range of seeds, including groundnut, cotton, wheat, cumin, onion, coriander, mustard, and corn. These seeds undergo treatment with insecticides and fungicides.
The company reported revenue from operations of Rs. 53.82 cr, Rs. 64.86 cr and Rs. 65.31 cr in FY 2021, 2022 and 2023 respectively. For the same time periods it reported Profit after Tax of Rs. 1.16 cr, Rs. 2.48 cr and Rs. 5.34 cr respectively.
The company's accounts receivable at the end of fiscal years 2023, 2022, and 2021 were Rs. 19.45 cr, Rs. 10.62cr, and Rs. 7.62 cr, respectively, constituting 51.09%, 36.78%, and 37.59% of total current assets.
The company is heavily reliant on the sale of groundnut and cumin seeds, posing risks associated with product concentration that could significantly impact business, financial status, and future prospects. Groundnut seed sales particularly dominate total revenue, accounting for 58.03%, 46.82%, 60.45%, and 37.11% of revenue from operations in the periods ending September 30, 2023, Fiscal 2023, Fiscal 2022, and Fiscal 2021, respectively.
The company acknowledges has certain outstanding legal proceedings. Any adverse outcome in this relation could adversely affect the business and its operations.
The company's operations are subject to seasonality, leading to potential variations in quarterly results within a fiscal year, making comparisons between quarters challenging.
A significant portion of the company's revenue relies on a few key customers and dealers, and the loss of any major client could severely impact business operations, cash flow, and financial health. The company's business model currently centers around generating the majority of revenue from its top five customers and dealers. For the period ending September 30, 2023, these top five entities contributed 22.57% of total revenue, while for the fiscal years 2022-23, 2021-22, and 2020-21, their contributions were 19.77%, 17.61%, and 8.93% of total revenue, respectively.
The company depends on third-party farmers for seed production, and any issues with these Seed Growing Farmers could impact sales, operational cash flows, and overall business results, while also posing reputational risks.
Vishwas Agri Seeds Financials
*All values are in Rs. Cr
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Application Details of Vishwas Agri Seeds IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹86 - 86 | ₹2 - 5 Lakh |
| High Networth Individual | ₹86 - 86 | ₹2 - 5 Lakh |
For Vishwas Agri Seeds IPO, eligible investors can apply as Regular.