BSE: 539120
GRAMEVA LIMITED
Operates across multiple agriculture and food verticals, having launched the Brew Factor coffee brand and added businesses in layer (egg) farming, feed milling, piggery, and fish trading. Formerly known as Bangalore Fort Farms Limited, it is listed on BSE (scrip 539120) and the Calcutta Stock Exchange (012644) with a face value of ₹10 per share. Standalone revenue for FY26 was ₹82.68 crore with net profit of ₹3.02 crore and an EBITDA margin of 6.41%. A separate filing noted consolidated FY26 revenue at ₹5,704.12 crore. The company is undergoing a change of control — existing promoter Genesis Trade-Links sold its 33.25% stake to three new acquirers (Mrs. Maneesha Singh, Jagsakti Merchandise, and Ros Advisory), with the Open Offer completed in April 2026. It also acquired office premises at Mani Square Mall, Kolkata. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Coffee, Layer farming, Feed mill, Piggery, Fish trading. Small-cap diversified agriculture and food business
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 23 | 24 | 37 | 41 | 83 |
| EBITDA (ex other income) | 1 | 0 | 1 | 1 | 5 |
| margin % | 3.3 | 0.9 | 3.1 | 2.2 | 5.6 |
| Owners' profit | 0 | 0 | 0 | 0 | 3 |
| EPS, as reported (₹) | 0.30 | 0.36 | 0.72 | 1.02 | 6.29 |
| ROE % · ROCE % | 2.0 · 8.1 | 2.3 · 6.6 | 4.4 · 11.8 | 5.9 · 14.2 | 26.9 · 34.3 |
| Debt / equity (x) | 0.53 | 0.43 | 0.37 | 1.05 | 0.85 |
| Cash from operations | 0 | 1 | 2 | (6) | (3) |
| Capex | (0) | (1) | (1) | (1) | (6) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 12 | 6 | 13 | 7 | 7 | 13 | 56 | 47 |
| Profit before tax | (0) | 0 | 0 | 1 | (0) | 0 | 4 | 1 |
| Net profit | (0) | 0 | 0 | 1 | (1) | 0 | 3 | 1 |
| EPS (₹) | (0.16) | 0.34 | 0.66 | 1.37 | (1.19) | 0.18 | 5.48 | 1.42 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CHEVIOT COMPANY LIMITED | 626 | 9.2 | 0.89 | — | 7.3 | 9.5 | — | 33.7 |
| GLOSTER LIMITED | 564 | 44.0 | 0.52 | 8.8 | 1.7 | 1.9 | 23.7 | 9.5 |
| LUDLOW JUTE & SPECIALITIES LTD | 313 | 16.1 | 1.68 | — | 8.7 | 8.8 | — | 7.7 |
| AI CHAMPDANY INDUSTRIES LTD. | 58 | — | 1.33 | — | (90.2) | (23.8) | — | (78.3) |
| GRAMEVA LIMITED ◆ | 34 | 11.9 | 2.99 | — | 26.9 | 28.9 | — | 2.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.9 | 15.4 | 11 of 25 | 58% |
| P/B | 3.0 | 1.1 | 21 of 22 | 5% |
| ROCE | 28.9 | 5.2 | 5 of 31 | 87% |
| ROE | 26.9 | 5.0 | 2 of 23 | 96% |
| Debt / Equity | 0.8 | 0.6 | 17 of 23 | 27% |
| EBITDA margin | 2.8 | 6.6 | 16 of 22 | 29% |
| Revenue growth | 558.7 | 16.3 | 1 of 24 | 100% |
| Profit growth | 3.9 | 26.4 | 16 of 28 | 44% |
| Market cap | 34 | 24 | 13 of 32 | 61% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Grameva says share-price movement was market-driven | compliance | minimal | — | — |
| 22 Oct 2026 · BSE seeks clarification from Grameva on price movement | regulatory legal | medium | — | — |
| 7 Oct 2026 · Grameva files quarterly dematerialisation certificate with BSE for Sep 2026 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 14 Aug 2026 · Grameva Q1 FY27: revenue jumps YoY, PAT marginally higher; credit limit doubled to Rs 18.89 Cr | results | high | — | — |
| 14 Aug 2026 · Grameva Q1 FY27 Results: Revenue jumps, PAT rises, credit limit enhanced | results | high | — | — |
| 7 Aug 2026 · Grameva board meeting on 14 Aug 2026 to consider Q1 FY27 results | results | low | — | — |
| 5 Aug 2026 · New auditor SDP & Associates appointed after previous auditor resigned | management changes | medium | — | — |
| 5 Aug 2026 · Grameva 59th AGM: All 9 resolutions passed with near-unanimous support | compliance | minimal | — | — |
| 5 Aug 2026 · Grameva Limited holds 59th AGM on Aug 5, 2026 via video conferencing | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.