Keventers Agro Limited IPO

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Based out of Kolkata, Keventer Agro Ltd is an FMCG company with interests in packaged, dairy, and fresh food products. The company’s comprehensive range of products are spread across various brands and categories with more than 90 SKUs as of March 31, 2021. It has also established a presence across the value chain in the fresh, frozen, and ambient long shelf life food product categories.

The company’s primary business comprises (1) packaged foods & beverages; and (2) dairy & fresh segments.
  1. The packaged foods & beverage category involves (a) the manufacturing, packaging, marketing, distribution of products including “Frooti” or “Appy” or “B Fizz” or “Appy Fizz” or “Bailey” or “Smoodh” which are licensed to it pursuant to various franchise agreements entered into with Parle Agro Private Limited and (b) “ready-to-cook” and frozen food under “Keventer” brand.
  2. The dairy & fresh segment primarily involves (a) sourcing, processing, marketing, distribution, and sale of pouch milk, pouch curd, ice cream, set-curd, UHT milk, milkshakes, and lassi under the “Metro” and “Keventer” brands; and (b) sourcing, ripening, distribution, branding and sale of bananas under the “Keventer” brand

Market Share

Here is a quick review of Keventers Agro’s market positions in Fiscal 2020 across various product categories:

S.No Particulars Territory  Rank
Packaged Foods and Beverage
1 Packaged beverages (juices and fruit-based beverages) * East and North East India 2nd
2 Packaged frozen food East and North East India 3rd
Dairy and Fresh
1 Private dairy  East and North East India 1st 
2 UHT milk East and North East India 2nd 
3 Ice cream Greater Kolkata Region 2nd
4 Branded domestic banana India 1st 
*As a franchisee of Frooti, Appy etc. 

It has ~12% share of the Packaged Frozen Food market in East and North East India and expects to increase it by 2025 to ~20%.

Metro Dairy is the largest private dairy in the Packaged Fresh Milk Market with about 6-7% share in East and North East India. Within the private sector dairy business in the region, Metro Dairy has a 25% share by volume.

North East India is the fastest growing market for UHT Milk and Keventer Agro Ltd has ~11% share in the UHT Milk market in the region.

East and North East India contribute ~10% to the total Ice Cream sales in India. Kolkata Metropolitan region contributes most to the Ice Cream market where Keventer Agro holds 20% of the market share.

Branded/ stickered bananas have been introduced in the retail market in the last 5-8 years (~0.65% of the total sales by volume). In FY 2020, this market was worth INR 510 Cr. Keventer Agro Ltd is the market leader having ~22% share in the branded domestic banana market.

Financial Snapshot

FY Ended Assets (₹ Crores) Revenue (₹ Crores) PAT (₹ Crores) EPS (₹)
March 2019 669.65 884.41 0.12 0.04
March 2020 729.14 958.25 3.42 0.87
March 2021 722.92 836.02 76.18 29.05

How do I apply to the Keventers Agro Limited IPO?

You can apply for the Keventers Agro Limited IPO using any supported UPI app by following two steps:
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Where do I check the allotment status for Keventers Agro Limited IPO?

You can check the allotment status for the Keventers Agro Limited IPO on the website of the Registrar and Transfer agent.

Alternatively, you can also check the allotment status on the NSE website.