Papadmalji Agro Food IPO

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WEBSITE Inc. Year: 2017 Industry: Consumer Food

Issue Size 20.18 Cr

Price Range 69 to 72 per share

Min Investment ₹72

Lot Size 1

Face Value ₹10

Draft Prospectus

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Buy unlisted shares early and participate in the growth before public listing.

Basic Info
IPO Tentative Timetable
IPO Lot Size
Subscription Status
Financials
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Growth Rates
Other info

Overview

Our Company, headquartered in Bikaner, Rajasthan, is an ISO 22000:2018 certified enterprise engaged in the inhouse manufacturing of: • Hand-Made Papads, • Machine-Made Papads, • Rice Papads (Khichiya), • Vrat Special Papads, and • Moongodi. In addition to in-house manufacturing, we also undertake white label manufacturing of Handmade Papads for clients, wherein products are produced by the Company and marketed by clients under their respective brand names and packaging, tailored to their target market. This combination of in-house and white label manufacturing enables the Company to leverage its production, optimize capacity utilization, diversify revenue streams and maintain consistent demand. At the same time, clients benefit by expanding their product portfolio without investing in manufacturing infrastructure, strengthening brand presence and ensuring product quality and reliability. Furthermore, the Company is engaged in the trading of Cereal Pellets where these products are sourced and traded by the Company under its own brand, complementing its manufacturing operations and providing an additional revenue stream. While handmade papads continue to represent a significant share of our revenue, we have invested in machinebased production to enhance scalability, consistency, and hygiene standards. Our facilities are equipped with semiautomated and automated machinery for dough preparation, sheeting, rolling, cutting, drying and packaging. The combination of traditional and mechanized methods enables us to balance scale with heritage-based production. At the heart of our identity lies a diverse portfolio of brands – “Zhakaas”, “Vishal”, “Rozana”, “Diamond”, and “Papadmalji” – each crafted to cater to the delicious tastes and lifestyles of our consumers. “Zhakaas” brings variety with rice papads (khichiya), vrat special papads, ready-to-fry options, cereal pellets, and Moongodi, reaching households through General Trade, Modern Trade channels, Q-commerce platform and Merchant Exporter. “Vishal”, steeped in tradition, offers hand-made papads that capture the authentic flavors and timehonoured recipes cherished by families, distributed through General Trade and Merchant Exporter. For everyday convenience, “Rozana” delivers machine-made papads with consistent crispiness, available across Modern Trade and Q-commerce. “Diamond” continues our journey of authenticity with hand-made papads, reaching select General Trade customers outside Vishal’s footprint. Further, “Papadmalji” stands as our flagship Direct-toConsumer brand, offering hand-made papads that embody authenticity, heritage, and the timeless joy of crispy indulgence distributed exclusively through our own platform. Together, these brands ensure that every consumer finds the perfect papad for their moments, from everyday meals to festive celebrations. Read More

Basic Info

Face Value 10 per share

Price 69 to 72 per share

P/E (x) 9.5

Sales( Cr.) 34

PAT( Cr.) 5

EPS 7.6

Draft Prospectus

Exchange NSE-SME

Promoter

Company Promoters

Jai Agarwal Premlata Agarwal Aanya Agarwal

Pre Issue Share Holding 60.98%

Post Issue Share Holding --%

Listing Details:

Listing Price: --

Listing Gain: --

Current Price: --

Gain On Issue: 0 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Sep 29, 2026

Closing Date Oct 01, 2026

Allotment Oct 02, 2026

Refund Oct 05, 2026

Delivery of Shares Oct 05, 2026

Listing Date Oct 06, 2026

IPO Lot Size

Application	Lots	Shares	Amount
Retail (Min)	1	3200	230,400
Retail (Max)	--	--	--
S-HNI (Min)	1	3200	230,400
S-HNI (Max)	4	12800	921,600
B-HNI (Min)	5	16000	1,152,000

Objective of the Issue

1. Funding the capital expenditure towards construction of building, mechanical and electrical works and procurement of plant and machinery and installation of 250 kW Rooftop Solar Power System for setting up a new manufacturing facility at Bachhasar, Bikaner. 2. Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks, and 3. General Corporate Purpose

Issue

Category	Bid	Bid (x)
QIB	2779200	0x
NII	398400	0x
Retail	1462400	0x
EMP	0	0x
Total	4640000	0x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Papadmalji Agro Food Profit & Loss

#(Fig in Cr.)	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Net Sales	25	26	32	34
Other Income	0	0	0	0
Total Income	25	26	32	34
Total Expenditure	23	23	26	25
Operating Profit	2	3	6	8
Interest	1	1	1	1
Depreciation	1	0	0	0
Exceptional Income / Expenses	0	0	0	0
Profit Before Tax	0	2	5	7
Provision for Tax	-0	0	-0	2
Profit After Tax	0	2	5	5
Adjustments	0	0	0	0
Profit After Adjustments	0	2	5	5
Adjusted Earnings Per Share	0.4	3.1	6.9	7.6

Papadmalji Agro Food Balance Sheet

#(Fig in Cr.)	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Shareholder's Funds	4	6	11	16
Minority's Interest	0	0	0	0
Borrowings	0	3	2	1
Other Non-Current Liabilities	0	0	0	0
Total Current Liabilities	10	11	12	16
Total Liabilities	14	20	25	34
Fixed Assets	4	4	4	4
Other Non-Current Assets	0	0	0	0
Total Current Assets	10	16	21	29
Total Assets	14	20	25	34

Papadmalji Agro Food Cash Flow

#(Fig in Cr.)	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Opening Cash & Cash Equivalents	0	0	0	0
Cash Flow from Operating Activities	-0	-3	2	1
Cash Flow from Investing Activities	-0	-0	-0	-1
Cash Flow from Financing Activities	0	3	-2	0
Net Cash Inflow / Outflow	-0	0	-0	0
Closing Cash & Cash Equivalent	0	0	0	0

Papadmalji Agro Food Ratios

#	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Earnings Per Share (Rs)	0.37	3.09	6.93	7.64
CEPS(Rs)	1.45	3.59	7.44	8.23
DPS(Rs)	0	0	0	0
Book NAV/Share(Rs)	6.01	9.1	16.03	23.67
Core EBITDA Margin(%)	6.38	12.58	18.84	25.16
EBIT Margin(%)	3.5	11.36	17.76	23.97
Pre Tax Margin(%)	0.99	8.12	14.86	21.6
PAT Margin (%)	1.02	8.02	14.88	15.54
Cash Profit Margin (%)	3.95	9.31	15.99	16.73
ROA(%)	1.81	12.35	20.94	17.81
ROE(%)	6.2	40.92	55.15	38.51
ROCE(%)	8.25	22.03	31	34.93
Receivable days	14.48	15.26	23.64	34.56
Inventory Days	128.41	163.12	188.74	234.73
Payable days	67.58	75.74	82.64	124.45
PER(x)	0	0	0	0
Price/Book(x)	0	0	0	0
Dividend Yield(%)	0	0	0	0
EV/Net Sales(x)	0.29	0.42	0.31	0.5
EV/Core EBITDA(x)	4.52	3.31	1.62	1.99
Net Sales Growth(%)	0	5.12	20.86	5.62
EBIT Growth(%)	0	241.1	88.97	42.54
PAT Growth(%)	0	729.44	124.16	10.33
EPS Growth(%)	0	729.47	124.16	10.33
Debt/Equity(x)	1.59	1.66	0.82	0.62
Current Ratio(x)	1.04	1.48	1.72	1.81
Quick Ratio(x)	0.12	0.13	0.25	0.27
Interest Cover(x)	1.4	3.5	6.13	10.09
Total Debt/Mcap(x)	0	0	0	0

Sihora Industries Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	11%	0%	0%
Operating Profit CAGR	33%	59%	0%	0%
PAT CAGR	0%	0%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	NA%	NA%	NA%	NA%
ROE Average	39%	45%	35%	35%
ROCE Average	35%	29%	24%	24%

Company Contact Information

Papadmalji Agro Foods Ltd.

Khushboo Tak Singhal

91 7300071153

cs@papadmalji.com

Opp. Manav Bharti School Garsisar

IPO Lead Manager(s)

Papadmalji Agro Foods Ltd.

KREO Capital Pvt Ltd.

Registrar Info

Papadmalji Agro Foods Ltd.

MAS Services Ltd

AB-4, Safdarjung Enclave, New Delhi - 110029.

011-26104142/4326/4292

011-26181081

info@masserv.com

https://www.masserv.com

Papadmalji Agro Food Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.