Shivashrit Foods IPO Review

Shivashrit Foods a leading manufacturer and exporter of premium-quality potato flakes, based in Aligarh, Uttar Pradesh, India. Established in 2017, they have a dedicated potato processing and manufacturing facility at Aligarh in Western Uttar Pradesh, India for production of potato flakes. They operate on a B2B business model, supplying its products to industrial clients in the food and snacks industry, both domestically and internationally. Additionally, they are expanding into the B2C segment, targeting the retail market through e-commerce channels. 

The company is led by the Promoters and Directors, Mr. Prashant Singhal and Mr. Nishant Singhal, who have been involved in the business since incorporation and collectively possess over 15 years of experience in the production of potato flakes. The company is also led by a qualified and experienced management team with the expertise and vision to drive the business growth.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 10,584.59 Lakh, ₹ 7,755.03 Lakh and ₹ 4,560.57 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 2,338.18 Lakh, ₹ 1,996.31 Lakh and ₹ 510.51 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 1,205.50 Lakh, ₹ 1,161.39 Lakh and ₹ 151.56 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 8.64 and post-issue EPS of ₹ 6.60 for FY24. The pre-issue P/E ratio is 16.43x, while the post-issue P/E ratio is 21.52x. The company's ROCE for FY24 is 42.73%, ROE for FY24 is 42.00% and RoNW is 34.85%. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Shivashrit Foods showing listing gains of 0.00 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Shivashrit Foods Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.