WEBSITE BSE:541999 NSE: GENERAAGRI Inc. Year: 1992 Industry: Agriculture My Bucket: Add Stock
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1. Business Overview
Genera Agri Corp Ltd. (formerly Genera Agrotech Ltd.) is an Indian agri-business company primarily engaged in the trading, processing, and distribution of a variety of agricultural products and inputs. The company's core business involves sourcing agricultural commodities such as grains, pulses, and oilseeds, undertaking processing activities, and then distributing them to various markets. Additionally, it deals in agricultural inputs including seeds, fertilizers, and pesticides, catering to the needs of the farming community and other stakeholders in the agricultural supply chain. The company generates revenue through the sale of these processed agro-products and agri-inputs.
2. Key Segments / Revenue Mix
Detailed segment-wise revenue breakdown for Genera Agri Corp Ltd. is not consistently reported or readily available in public financial summaries. However, based on its stated business activities, its revenue streams are primarily derived from:
Trading and Processing of Agricultural Commodities: This segment involves the purchase, processing (e.g., cleaning, grading, milling), and sale of various agro-products.
Sale of Agri-Inputs: This includes the distribution and sale of essential agricultural inputs like seeds, fertilizers, and pesticides to farmers and retailers.
Without specific financial data, exact contribution percentages for these segments cannot be determined.
3. Industry & Positioning
The Indian agriculture industry is vast, highly fragmented, and susceptible to climatic conditions, government policies, and global commodity price movements. Genera Agri Corp Ltd. operates within this competitive landscape, participating in the trading, processing, and distribution segments. Its positioning appears to be that of a smaller to mid-sized regional player, competing with numerous local traders, larger integrated agribusiness corporations, and established agri-input companies. The industry is characterized by high volume, relatively thin margins, and significant working capital requirements.
4. Competitive Advantage (Moat)
Genera Agri Corp Ltd. does not appear to possess a strong, clearly identifiable competitive moat.
Scale: It does not demonstrate a significant scale advantage over larger national or international agri-businesses.
Brand: It does not have widely recognized consumer-facing brands that command significant pricing power or loyalty.
Network/Switching Costs: While it may have an established local distribution network and supplier relationships, these are generally replicable and do not present high switching costs for customers or suppliers in the commodity-driven market.
Any advantages likely stem from localized sourcing efficiency, effective supply chain management within its operating regions, and established relationships, but these are generally not considered durable moats.
5. Growth Drivers
Increasing Agricultural Output: Favorable monsoon seasons and government initiatives promoting agricultural productivity can lead to higher crop yields, increasing demand for agri-inputs and opportunities for commodity trading/processing.
Rising Demand for Processed Food: Urbanization and changing consumer lifestyles in India drive a growing demand for processed and value-added food products, which Genera Agri could cater to.
Expansion of Distribution Reach: Strengthening existing distribution networks and expanding into new geographic markets can increase sales volume.
Value Addition: Moving up the value chain by offering more specialized, branded, or higher-margin processed agricultural products.
Government Support for Agriculture: Policies aimed at boosting farm income, improving agricultural infrastructure, or promoting food processing can create favorable operating conditions.
6. Risks
Monsoon Dependency: The Indian agriculture sector is heavily reliant on monsoon rains, making the company vulnerable to adverse weather conditions, droughts, or floods impacting crop production.
Commodity Price Volatility: Fluctuations in the prices of agricultural commodities directly impact the company's revenue, cost of goods, and profit margins.
Intense Competition: The fragmented and competitive nature of the agri-business sector can lead to pricing pressures and challenges in maintaining market share.
Regulatory & Policy Changes: Adverse changes in government agricultural policies, import/export duties, Minimum Support Prices (MSPs), or environmental regulations could impact operations.
Supply Chain Disruptions: Logistical challenges, infrastructure bottlenecks, or unforeseen events can disrupt sourcing, processing, and distribution.
Working Capital Management: The trading and processing of agricultural commodities are capital-intensive, requiring efficient working capital management to avoid liquidity issues.
7. Management & Ownership
Genera Agri Corp Ltd. is promoted by individuals and families with a history in the company. As is common with many smaller Indian listed entities, promoter group holding typically constitutes a significant portion of the ownership structure, indicating a concentrated ownership. Specific details regarding the management's long-term vision, strategic execution capabilities, and track record would require a deeper dive into their annual reports and public disclosures. Institutional investor participation may be limited.
8. Outlook
Genera Agri Corp Ltd. operates in a fundamental sector vital to India's economy, benefiting from long-term tailwinds like population growth, rising incomes, and evolving food consumption patterns. Its engagement in both agri-inputs and commodity trading/processing positions it to capture value across the agricultural supply chain. However, the company's prospects are significantly influenced by the inherent volatility of the agricultural sector, including its dependency on monsoon patterns and the unpredictable nature of commodity prices. The absence of a strong competitive moat implies that sustained growth will be contingent on operational efficiency, disciplined risk management, and the ability to effectively navigate a highly competitive and often fragmented market. Success will rely on its capacity to manage working capital, scale operations judiciously, and potentially innovate in its product offerings, while effectively mitigating external agricultural and market risks.
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Market Cap ₹2 Cr.
Stock P/E 25.6
P/B 0.1
Current Price ₹1.8
Book Value ₹ 13.3
Face Value 10
52W High ₹0
Dividend Yield 0%
52W Low ₹ 0
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 4 | 4 | 2 | 1 | 1 | 2 | 3 | 1 | 1 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 4 | 4 | 2 | 1 | 1 | 2 | 3 | 1 | 1 | 0 |
| Total Expenditure | 4 | 4 | 2 | 1 | 1 | 2 | 3 | 1 | 1 | 0 |
| Operating Profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 |
| Profit After Tax | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 |
| Adjustments | 0 | -0 | 0 | 0 | -0 | -0 | 0 | 0 | -0 | -0 |
| Profit After Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | -0 | 0 | 0 | -0 |
| Adjusted Earnings Per Share | 0 | 0 | -0 | 0 | 0 | 0.1 | -0 | 0 | 0 | -0 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 86 | 99 | 78 | 48 | 32 | 22 | 13 | 14 | 15 | 12 | 6 | 5 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 86 | 99 | 78 | 48 | 32 | 22 | 13 | 14 | 15 | 12 | 6 | 5 |
| Total Expenditure | 64 | 78 | 69 | 46 | 31 | 21 | 62 | 14 | 15 | 12 | 6 | 5 |
| Operating Profit | 22 | 20 | 10 | 2 | 2 | 0 | -49 | 0 | 0 | 0 | 0 | 0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 5 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | 22 | 20 | 9 | 2 | 1 | 0 | -55 | 0 | 0 | 0 | 0 | 0 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 |
| Profit After Tax | 22 | 20 | 9 | 2 | 1 | 0 | -55 | 0 | 0 | 0 | 0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 22 | 20 | 9 | 2 | 1 | 0 | -55 | 0 | 0 | 0 | 0 | 0 |
| Adjusted Earnings Per Share | 8 | 22.1 | 10.5 | 1.7 | 1.1 | 0 | -60.6 | 0.1 | 0.3 | 0.1 | 0.1 | 0 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -50% | -25% | -23% | -23% |
| Operating Profit CAGR | 0% | 0% | 0% | -100% |
| PAT CAGR | 0% | 0% | 0% | -100% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 0% | -0% | -4% | -4% |
| ROE Average | 1% | 1% | -26% | 1% |
| ROCE Average | 1% | 1% | -22% | 3% |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 37 | 57 | 67 | 68 | 69 | 69 | 11 | 12 | 12 | 12 | 12 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 7 | 7 | 0 | 0 | 0 | 1 | 1 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 2 | 12 | 12 | 11 | 2 | 2 | 11 | 12 | 14 | 13 | 13 |
| Total Liabilities | 40 | 69 | 79 | 80 | 78 | 79 | 23 | 24 | 26 | 26 | 26 |
| Fixed Assets | 7 | 7 | 6 | 6 | 6 | 5 | 2 | 2 | 2 | 2 | 1 |
| Other Non-Current Assets | 0 | 27 | 30 | 30 | 27 | 37 | 17 | 17 | 17 | 17 | 17 |
| Total Current Assets | 33 | 36 | 43 | 44 | 46 | 36 | 4 | 6 | 7 | 7 | 8 |
| Total Assets | 40 | 69 | 79 | 80 | 78 | 79 | 23 | 24 | 26 | 26 | 26 |
| #(Fig in Cr.) | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | 22 | 10 | 2 | -0 | -3 | -0 | 0 | -1 | -0 | -1 | -0 |
| Cash Flow from Investing Activities | -18 | -21 | -3 | 0 | 0 | -0 | -2 | -0 | -1 | 0 | 0 |
| Cash Flow from Financing Activities | 0 | 7 | 0 | 0 | 3 | 0 | 2 | 2 | 0 | 1 | 0 |
| Net Cash Inflow / Outflow | 4 | -4 | -1 | -0 | 0 | -0 | 0 | 0 | -0 | -0 | 0 |
| Closing Cash & Cash Equivalent | 5 | 1 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| # | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 7.99 | 22.1 | 10.49 | 1.74 | 1.09 | 0.02 | -60.59 | 0.15 | 0.29 | 0.09 | 0.07 |
| CEPS(Rs) | 8.11 | 22.56 | 10.96 | 2.21 | 1.56 | 0.42 | -54.78 | 0.29 | 0.44 | 0.24 | 0.18 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 13.87 | 63.71 | 74.2 | 75.94 | 77.11 | 77.18 | 12.68 | 12.83 | 13.12 | 13.22 | 13.29 |
| Core EBITDA Margin(%) | 25.53 | 20.67 | 12.62 | 4.18 | 4.77 | 1.81 | -391.72 | 2.28 | 3 | 2.79 | 4.49 |
| EBIT Margin(%) | 25.16 | 20.25 | 12.08 | 3.31 | 3.47 | 0.16 | -432.35 | 1.54 | 2.18 | 1.75 | 2.98 |
| Pre Tax Margin(%) | 25.15 | 20.24 | 12.08 | 3.31 | 3.47 | 0.16 | -432.42 | 1.42 | 1.48 | 0.97 | 1.45 |
| PAT Margin (%) | 25.1 | 20.17 | 12.04 | 3.26 | 3.04 | 0.06 | -432.45 | 0.92 | 1.75 | 0.68 | 0.96 |
| Cash Profit Margin (%) | 25.5 | 20.59 | 12.57 | 4.13 | 4.34 | 1.71 | -390.99 | 1.83 | 2.62 | 1.73 | 2.47 |
| ROA(%) | 75.23 | 36.62 | 12.75 | 1.98 | 1.24 | 0.02 | -107.4 | 0.56 | 1.06 | 0.32 | 0.24 |
| ROE(%) | 80.22 | 41.97 | 15.21 | 2.32 | 1.43 | 0.02 | -134.85 | 1.14 | 2.27 | 0.7 | 0.51 |
| ROCE(%) | 80.46 | 39.33 | 13.75 | 2.14 | 1.48 | 0.05 | -113.37 | 1.04 | 1.46 | 0.92 | 0.8 |
| Receivable days | 22.59 | 39.15 | 74.67 | 160.16 | 325.96 | 569.3 | 538.56 | 92.82 | 114.21 | 178.18 | 407 |
| Inventory Days | 25.33 | 27.67 | 48.73 | 75.59 | 49.45 | 7.63 | 21.36 | 19.06 | 8.27 | 1.22 | 0.36 |
| Payable days | 21.09 | 55.9 | 36.24 | 39.89 | 34.49 | 32.14 | 73.81 | 67.7 | 47.92 | 47.91 | 85.34 |
| PER(x) | 0 | 0 | 0 | 5.51 | 4.12 | 222.93 | 0 | 0 | 15.3 | 10.91 | 26.54 |
| Price/Book(x) | 0 | 0 | 0 | 0.13 | 0.06 | 0.05 | 0.43 | 0 | 0.34 | 0.08 | 0.14 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.05 | 0.15 | 0.2 | 0.33 | 0.49 | 0.72 | 1.38 | 1.32 | 1.01 | 0.99 | 2.09 |
| EV/Core EBITDA(x) | 0.2 | 0.73 | 1.57 | 7.89 | 10.19 | 39.73 | -0.35 | 54.25 | 33.24 | 35.49 | 46.6 |
| Net Sales Growth(%) | 91.52 | 14.77 | -20.47 | -38.62 | -32.92 | -32.35 | -42.33 | 12.38 | 6.47 | -18.57 | -48.19 |
| EBIT Growth(%) | 92.84 | -7.62 | -52.56 | -83.18 | -29.72 | -96.84 | 0 | 100.4 | 50.89 | -34.58 | -11.69 |
| PAT Growth(%) | 94.33 | -7.76 | -52.54 | -83.4 | -37.34 | -98.56 | 0 | 100.24 | 102 | -68.51 | -26.34 |
| EPS Growth(%) | -35.08 | 176.73 | -52.54 | -83.4 | -37.27 | -98.56 | 0 | 100.24 | 102.04 | -68.52 | -26.35 |
| Debt/Equity(x) | 0 | 0.12 | 0.1 | 0.1 | 0.1 | 0.1 | 0.74 | 0.9 | 0.96 | 0.96 | 1 |
| Current Ratio(x) | 16.88 | 3.08 | 3.57 | 4.01 | 23.46 | 16.38 | 0.39 | 0.46 | 0.49 | 0.55 | 0.58 |
| Quick Ratio(x) | 14.04 | 2.26 | 2.61 | 3.24 | 23.3 | 16.11 | 0.31 | 0.41 | 0.49 | 0.55 | 0.58 |
| Interest Cover(x) | 2064.94 | 1095.13 | 3213.63 | 1669.9 | 4493.44 | 116.05 | -6216.88 | 12.81 | 3.13 | 2.24 | 1.95 |
| Total Debt/Mcap(x) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.81 | 12.6 | 7.32 |
| # | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 26.08 | 26.08 | 26.75 | 26.75 | 26.75 | 26.75 | 26.75 | 26.75 | 26.75 | 26.75 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 73.92 | 73.92 | 73.25 | 73.25 | 73.25 | 73.25 | 73.25 | 73.25 | 73.25 | 73.25 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2019 | Dec 2019 | Mar 2020 | Jun 2020 | Sep 2020 | Dec 2020 | Mar 2021 | Jun 2021 | Sep 2021 | Dec 2021 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 | 0.24 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 | 0.9 |
* The pros and cons are machine generated.
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