Quanto Agroworld IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

Quanto Agroworld

Price band

₹67

Lot size

2000 shares

Min investment

₹1,34,000

Issue size

₹31.02 Cr

About the company

Quanto Agroworld Ltd was set up in March 2018 to take up farming activity. It grows, processes and supplies medicinal and aromatic plants, with lemongrass as its main crop and main commercial focus. It describes itself as a specialty botanical ingredient maker. From lemongrass it produces three things. Lemongrass biomass and lemongrass tea-cut go to herbal tea makers, nutraceutical companies and functional beverage brands. Lemongrass essential oil goes into personal care, home care, fragrance, aromatherapy and pharmaceutical uses. It sells business to business, supplying institutional and industrial customers across India. The company is vertically integrated, meaning it does the whole job itself, from preparing the land and planting, through crop management and harvesting, to steam distillation carried out on site, packaging and dispatch. Doing the distillation at the farm matters because lemongrass has to be processed soon after cutting. Its cultivation base is about 424 acres of developed agricultural land held under the Maharashtra State Farming Corporation Limited, with a further 312.57 acres under development, and it has additional access through its subsidiary Quanto Agritech Private Limited.

Quanto Agroworld Ltd cultivates and processes medicinal and aromatic plants, with lemongrass as its main crop, producing lemongrass biomass, tea-cut and essential oil for personal care, fragrance, aromatherapy, pharmaceutical and herbal tea customers. It farms about 424 acres under a Maharashtra State Farming Corporation arrangement with a further 312.57 acres being developed.

IPO details

Issue price: ₹67
Price band: ₹67
Face value: ₹10
Lot size: 2000
Min investment: ₹1,34,000
Issue size: ₹31.02 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7974
NSE symbol: QAL.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	2,000	₹1,34,000
Retail (Max)	1	2,000	₹1,34,000
HNI (Min)	2	4,000	₹2,68,000

Investor reservation

CATEGORY	RESERVED
NII	21,98,000 shares (49.98% of the Offer)
Retail	22,00,000 shares (50.02% of the Offer)

Objects of the issue

1Capital Expenditure for Distillation Plant at Rawalgaon, Maharashtra3.79

2Capital Expenditure for expansion of Farms15.23

3Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company3.63

4General Corporate Purposes4.65

5Issue Expenses3.72

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	40.00	33.43	24.82
Total Income	40.35	16.49	15.56
Profit After Tax	8.38	6.63	5.37
EBITDA	11.92	9.28	7.37
NET Worth	33.98	25.62	19.01
Reserves and Surplus	21.12	12.77	6.15
Total Borrowing	5.48	5.30	3.70

Key performance indicators

P/E Ratio

13.99

EPS (₹)

4.79

RoE

24.68%

RoCE

25.62%

RoNW

24.68%

PAT Margin

20.78%

EBITDA Margin

29.54%

Debt / Equity

0.16

NAV (₹)

26.43

✓ Strengths

• The margin is high for an agricultural business, with a PAT margin of 20.78% and an EBITDA margin of 29.54%.

• Profit has grown every year, from Rs 5.37 crore in FY2024 to Rs 6.63 crore in FY2025 and Rs 8.38 crore in FY2026.

• Sales jumped in FY2026, from Rs 16.49 crore to Rs 40.35 crore.

• Debt is very low. Total borrowing was Rs 5.48 crore against a net worth of Rs 33.98 crore, a debt to equity ratio of only 0.16.

• Return ratios are good, with RoCE of 25.62% and RoNW of 24.68%, and the issue is priced at about 13.99 times earnings on an EPS of Rs 4.79.

• Doing steam distillation on site means the crop is processed fresh, which protects oil yield and quality.

• Its products sell into several different industries, from herbal tea and nutraceuticals to fragrance, aromatherapy and pharmaceuticals.

• The land base is being expanded, with 312.57 acres under development on top of the 424 acres already in production, and Rs 15.23 crore of the issue goes into farm expansion.

⚠ Risks

• Sales jumped 145% in FY2026 while profit rose only 26%. That gap means the additional sales came at a much lower margin and needs to be understood from the RHP.

• This is farming, so it is exposed to weather. Poor rain, pests or disease in a season directly reduce yield, and there is little the company can do about it.

• The business rests on one crop. Almost everything depends on lemongrass, so a fall in lemongrass oil prices or a crop problem hits the whole company.

• The cultivation land is held under an arrangement with the Maharashtra State Farming Corporation rather than owned outright, so continuity depends on that arrangement being maintained.

• Essential oil prices behave like commodity prices and can swing widely between seasons.

• Promoter holding is already low at 61.49% before the issue and falls to 45.21% after it, leaving the promoters below a half share.

• This is a fixed price issue at Rs 67 per share, so there is no price discovery through bidding.

• This is an SME issue. One lot is 2,000 shares, which is Rs 1.34 lakh at the issue price, and SME shares usually trade in low volume after listing.

Promoters & holding

Surendra Kumar Babulal Agarwal, Sangeeta Surendra Agarwal and Gaurav Surendra Agrawal

Pre-issue promoter holding

61.49%

Post-issue promoter holding

45.21%

Data refreshed 07 Nov 2026, 04:57 pm IST. GMP is unofficial market sentiment, not investment advice.