Adon Agro Commodities SME IPO Review | APPLY or AVOID?
Adon Agro Commodities Ltd. started in -. It operates in the agricultural food industry and provides processed dry fruits to its customers across India. This business is based in Navi Mumbai. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.
✅ Strengths
⚠️ Challenges
Financial Update
The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹12.07 crore increased from ₹11.06 crore in previous year. The net profit for the same period was ₹2.97 crore increased from ₹2.41 crore in previous year. Assets increased by -% compared to the previous year. The financial book highlights a nice sales growth with 9M FY26 revenue hitting 12.20 crore. The net profit for the same nine month period reaches 2.95 crore. The basic net asset value climbs up to 35.24 per share by December 2025. This trend should be carefully studied prior to any investment.
IPO Valuation
The upper price band is ₹70. This price leads to a Price-to-Earnings ratio of 16.22. The average P/E for the industry is -. The post-issue P/E will drop to 6.42. Updated review will be available soon.
IPO Objective
Company will use Offer proceeds to meet stated objectives:
- Funding incremental working capital requirements of thirty-two crore rupees
- Meeting general corporate purposes
Promoters & Lead Manager
- Narayanswamy Venkitkrishnan, Jigisha Narayanswamy and Shubham Ratan Sharma are the promoters.
- Lead manager Galactico has handled multiple SME issues
Peer Comparison
Below is the comparison of the company with its listed peers using data from March 31, 2025. Updated review will be available soon.
| Company Name | EPS (Basic) | NAV (₹ per share) | P/E (x) | RoNW (%) | P/BV Ratio |
|---|---|---|---|---|---|
| Adon Agro Commodities Ltd. | 4.32 | 40.57 | 84.36 | ||
| Leo Dry Fruits & Spices Trading Ltd. | 5.75 | 35.59 | 9.57 | 16.68 | 1.57 |
| Proventus Agrocom Ltd. | 10.5 | 377.12 | 114.29 | 5.86 | 3.18 |
| Krishival Foods Ltd. | 6.07 | 63.55 | 50.74 | 4.08 | 4.89 |
Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).
IPO Review & Analyst Rating
Updated review will be available soon.
| Analyst Name | Recommendation |
|---|---|
| – | – |
| – | – |
| – | – |
Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.
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