Vishwas Agri Seeds Limited is in the business of processing high quality seeds and supplying them to farmers via there established distribution network. Company sells its seeds under the brand name "Vishwas".
The company produced seeds for 151+ different field crops, vegetables and have the presence of in the state of Gujarat, Rajasthan & Madhya Pradesh.
The company majorly deals in good quality hybrid seeds. Company has setup a seed sorting & grading unit along with Warehouse & Cold storage facility at Ahmedabad, Gujarat. The unit has three warehouses, one cold storage, a seed processing unit and admin office building with a storing capacity of 4200 MT (Metric ton) seeds and cold storage facility to store 3000 MT (Metric ton) of seeds.
Product portfolio includes crop seeds for Groundnut, Soyabin, Wheat, Cumin, Green Gram, Black Gram Research Hybrid seeds for Cotton, Castol, Pearl Millet, Maize, hybrid vegitable seeds Chilli, Tomato, Brinjal, Watermelon, Sweet Corn, cabbage, Onion, Coriander Seeds, Fenugreek, Mustard, Lucern, Carrot, etc.
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The Global Seed Market size is estimated at USD 66.85 billion in 2023, and is expected to reach USD 92.02 billion by 2028, growing at a CAGR of 6.60% during the forecast period (2023-2028).
Hybrid breeding technology stands as a dominant force in agriculture, spurred by surging demands across diverse sectors such as organic farming, animal feed, food production, and biofuels. The market's growth is fueled by the superior attributes of hybrid seeds, including heightened productivity, extensive adaptability, and robust resistance to both biotic and abiotic stresses. Notably, in cotton cultivation, hybrids yield 50% more than conventional varieties, highlighting their remarkable potential amidst environmental fluctuations.
Indian Seed industry is a sub-sector within Agri-input sector of Agriculture and allied industry. The seed industry in India size reached US$ 6.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 12.7 Billion by 2028, exhibiting a growth rate (CAGR) of 12.43% during 2023-2028.
India's burgeoning population and diverse agricultural landscapes drive market growth. The collaboration between public and private sectors, alongside technological advancements, aids the seed industry in combating environmental challenges and fostering agricultural commercialization.
Risk factors associated to the company:
High working capital requirements: Business requires a significant amount of working capital and a major portion of working capital is utilized towards accounts receivable and inventories. Accounts receivable collection cycle is long because of the nature of business and operations. Inability to maintain an optimal level of working capital required may impact operations.
Highly dependent on the sale of Groundnut seeds & Cumin seeds: Sale of Groundnut seeds is the largest contributor towards total revenue contributing approximately 50%-60% of the revenue. The Sale of Cumin seeds is the second largest contributor towards total revenue, approximately 25% holds from the same.
Seasonal Business: Business is seasonal in nature fluctuating operating results. It is influenced by the traditional crop season in India, production & demand of products affected by weather conditions, irrigation facilities, availability of credit to farmers and overall agricultural production.
Substantial portion of revenues has been dependent upon few customers and dealers: Top 5 customers and dealer contributed 22.57% of Total Revenue.
Rely on third-party farmers to assist in growing seeds: Seed production takes place through contractual arrangements with Seed Growing Farmers during every crop season. They provide these Seed Growing Farmers with the required farm inputs and closely manage their activities during all stages of seed production.
Competition from both organized and unorganized players: Competition occurs on quality of products, distribution network, pricing and timely delivery. Some competitors have longer industry experience and greater financial, technical and other resources, which may enable them to adopt faster in changing market scenario and remain competitive.
The company may require further equity issuance that will lead to dilution of equity and affecting market price: Growth of the company is dependent on having a strong balance sheet to support activities. In addition to the IPO Proceeds and internally generated cash flow, company may need other sources of financing to meet capital needs including entering into new debt facilities or raising additional equity in the capital markets.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
1. Aadhaar and PAN Card of the taxpayer and the company
2. Bank Statements of the taxpayer/company/firm
3.Form 26AS: It is a summary of all the taxes that have been deducted from your income, such as TDS (Tax Deducted at Source).
4. Form 16: It is issued by your employer, which gives the details about the total salary + TDS deducted from it.
5. Investment and financial documents: If you have invested in shares, mutual funds, or fixed deposits, dividend statements, capital gains reports (if you have sold any assets), and interest certificates need to be attached.
6. Proof of other income: Other than your salary, if you have earned from different sources, such as from freelance work, rental income, or interest, you need to attach the documents, such as bonus receipts, interest certificates, rental agreements, and any freelance payment statements, to prove the same.
7. Deductions and tax-saving investments: To claim deductions under sections 80C - for investments in PPF, ELSS, etc., 80D - for insurance premiums, or 80G for the charitable donations, you need to attach the documents to prove the same.
8. Form 10E (If Applicable): If you have received salary arrears or any special bonuses, then you need to attach the Form 10E - it is used to claim tax relief for those payments under section 89(1) of the Income Tax Act, 1961.
9. TDS Certificates: If you have earned income from sources other than your salary, such as rent, interest, or professional fees, then your TDS might have TDS deducted. In this case, you need to attach the TDS certificates from those sources to show that tax has been deducted and deposited with the government.
10. Details of Foreign Income (If Applicable): If you have earned from abroad or own foreign assets, you need to disclose all the information in your ITR. Documents such as foreign bank statements, income certificates, or details of foreign investment are necessary to report this income correctly.
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