Freshara Agro Exports Limited - IPO
SMEFreshara Agro Exports Stock Price
Freshara Agro Exports IPO Details
Freshara Agro Exports IPO Subscription
Freshara Agro Exports IPO Application Wise Breakup
Freshara Agro Exports IPO Dates
- 17 Oct 2024Opening dateOPD
- 21 Oct 2024Closing dateCOD
- 22 Oct 2024Basis of AllotmentBOA
- 23 Oct 2024Initiation of RefundsIOR
- 23 Oct 2024Credit of SharesCOS
- 24 Oct 2024Listing dateLID
Freshara Agro Exports IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retain Minimum | 1 | 1200 | ₹139,200 |
| Retain Maximum | 1 | 1200 | ₹139,200 |
| HNI Minimum | 2 | 2400 | ₹278,400 |
Freshara Agro Exports IPO Reservation
Promoter Holding
Freshara Agro Exports IPO Valuations
Freshara Agro Exports Limited Financial Information
Freshara Agro Exports Limited's revenue increased by 56% and profit after tax (PAT) rose by 140% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Sep 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 16,599.73 | 28,853.09 | 8,490.64 | 5,887.64 | ||||||||||||||||||||||||||||||||||||
| Revenue | 10,746.11 | 19,801.58 | 12,700.22 | 11,840.68 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 1,137.81 | 2,182.41 | 908.2 | 97.36 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 3,834.58 | 5,958.45 | 1,855.49 | 931.58 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 2,134.58 | 996.77 | ||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 10,625.22 | 17,618.1 | 4,173.89 | 3,479.1 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
About Freshara Agro Exports IPO
Freshara Agro Exports Limited, formerly known as Freshara Picklz Exports, was established in 2015 and procures, processes and exports preserved Gherkins and other pickled goods from India to various countries across the world.
Under a contract farming program, the company exports raw produce from local farmers in Tamil Nadu, Karnataka, and some parts of Andhra Pradesh. 70% of the produce is "not ready-to-eat" and is supplied directly to factories for further processing and conversion into finished products. The remaining 30% is supplied to food brokers and traders in the international market. The company's products include gherkins, baby corn, jalapenos, and other pickled vegetables.
As of March 31, 2024, the company processes and exports pickled vegetables in 3 different packaging categories. The details of the 3 packaging categories: 1) Industrial packaging in food grade drums and pails; 2) Food packaging in plastic buckets and tin cans; and 3) Retail packaging in glass jars and tin cans.
The company is accredited by a number of leading organizations, including the Food Safety and Standards Authority of India (FSSAI), the United States Food & Drug Administration (FDA), Star-K Kosher, Agricultural and Processed Food Products Export Development Authority (APEDA), International Featured Standards, Brand Reputation through Compliance Global Standard (BRCGS).
Competitive strengths:
- Good relationships with contract farmers and other suppliers ensure the availability of raw materials in the off-season
- Supporting an efficient supply chain enables the company to maintain long-term and intensive customer relationships
- Quality assurance and control of product quality, which has earned the company various awards and accreditations
- Advanced in-house processing facilities with a focus on cost competitiveness
- A comprehensive product portfolio that enables the company to serve its customers around the world
- Proven financial performance and a scalable business model
- Experienced promoter and management team
As of September 30, 2024, the company had a total of 135 employees.
Strength Of Freshara Agro Exports IPO
1. Good relationship with the contract farmers and other vendors ensuring availability of raw materials during off-season period.
2. Support of efficient supply-chain enable us to have long-standing and deep customer relationships.
3. Quality assurance and quality control of our products and as a result we received various awards and accreditations.
4. Advanced in-house processing facilities with focus on cost competitiveness.
5. Comprehensive product portfolio enables us to serve our customers spread across the globe.
6. Demonstrated history of financial performance and a scalable business model.
7. Experienced promoter and management team.
Risk Of Freshara Agro Exports IPO
1. The company derives significant portion of its revenue from sell of Gherkins as accounted for 84.90%, 93.50%, and 90.90 of the company revenue from operations in Fiscal 2022, 2023 and 2024 respectively. An inability to anticipate and adapt to evolving consumer preferences and demand for particular products, or ensure product quality may adversely impact demand for its products and consequently the company's business, results of operations, financial condition and cash flows.
2. Improper storage, processing or handling of whole products of Gherkins, Baby Corns, Banderilla, Chilies, Bell Pepper and other products may result in spoilage of, and damage to, such whole Gherkins, Baby Corns, Banderilla, Chilies, Bell Pepper and other products which may adversely affect its business prospects, results of operations and financial condition.
3. Real or perceived product contamination could result in reduced sales, product liability and damage to its reputation, and subject the company to regulatory action.
4. The company is highly dependent on its management team and certain management personnel, any loss of such team members or the inability to attract or retain research and development personnel may materially adversely affect its business performance and research and development efforts.
5. The company derives a significant portion of its revenue from customers located overseas, including in Russia, which is currently involved in a war with Ukraine.
6. The company completed its conversion from a Partnership firm to a public limited company on November 22, 2023. However, the accounts of the partnership firm were subsequently closed on January 23, 2024.
7. The company faces foreign exchange risks that could adversely affect its results of operations and cash flows.
8. Its top ten customers contribute majority of the company's revenues from operations. Any loss of business from one or more of them may adversely affect its revenues and profitability.
9. The discontinuation of, the loss of business with respect to, or a lack of commercial success of, a particular product for which the company is a significant supplier could affect its business and results of operations.
10. The requirement of funds in relation to the objects of the Issue has not been appraised.
Objectives Freshara Agro Exports IPO
- To meet the Capital Expenditure;
- Funding the working capital requirements of the company;
- To meet the General Corporate Purposes; and
- To meet the Issue Expenses.
Company Contact Details
Freshara Agro Exports Limited
Old No.3, New No.9,
Puram Prakasam Road, Balaji Nagar,
Royapettah, Chennai - 600014
Phone: +91 44 4357 0138
Email: cs@fresharaagroexports.com
Website: https://fresharaagroexports.com/
Registrar Contact Details
Lead Mangers
GYR Capital Advisors Private Limited
Market Maker
Giriraj Stock Broking