BSE: 539222
GROWINGTON VENTURES INDIA LIMI
Imports and trades fresh fruits and agricultural products in India through a BSE-listed entity headquartered in Navi Mumbai, with consolidated FY26 revenue of Rs 13,183.38 lakhs and a UAE subsidiary. Standalone FY26 revenue of Rs 12,652.97 lakhs more than doubled from Rs 6,108.58 lakhs in FY25, while profit after tax was Rs 341.27 lakhs on a standalone basis and Rs 462.33 lakhs on a consolidated basis. Revenue scale is largely services- and trading-driven, with cost of materials reported as nil, employee cost at 0.3% of revenue, other operating expenses at 2.6%, and depreciation at 0.1%. Cash from operations was deeply negative (Rs 4,696.41 lakhs standalone and Rs 4,718.02 lakhs consolidated), driven mainly by a jump in trade receivables from Rs 1,272 lakhs to Rs 7,906 lakhs and inventory build-up. The company raised Rs 4,816.62 lakhs via a rights issue in June 2025 to fund growth, and its total equity rose to Rs 6,422.16 lakhs as of 31 March 2026 from Rs 1,605.54 lakhs a year earlier. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Fresh fruit imports and trading, Agri products trading. Asset-light, low-cost trading and distribution business in fruits and agri products, with overseas sourcing via a UAE subsidiary.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 34 | 64 | 132 |
| EBITDA (ex other income) | — | 4 | 6 |
| margin % | — | 6.1 | 4.6 |
| Owners' profit | — | 2 | 5 |
| EPS, as reported (₹) | 0.07 | 0.15 | 0.09 |
| ROE % · ROCE % | — · 12.2 | 11.8 · 20.2 | 6.3 · 9.2 |
| Debt / equity (x) | — | 0.37 | 0.11 |
| Cash from operations | (2) | (3) | (47) |
| Capex | — | 0 | 0 |
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 | 6 | 14 | 36 | 17 | 27 | 25 | 63 | 48 |
| Profit before tax | 1 | 3 | (0) | 3 | 1 | 1 | 1 | 2 |
| Net profit | 0 | 2 | (0) | 2 | 1 | 1 | 1 | 2 |
| EPS (₹) | 0.03 | 0.12 | (0.02) | 0.07 | 0.02 | 0.02 | 0.01 | 0.03 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 30,351 | 17.8 | 2.91 | 14.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 8,166 | 18.3 | 3.85 | 17.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 4,696 | 20.0 | 5.20 | 13.9 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,593 | 24.5 | 4.11 | 18.4 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,178 | — | 13.10 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 755 | 8.3 | 0.59 | 190.1 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 47.7 | 6.0 | 6.9 | — | 4.9 |
| SHANKARA BUILDPRO LIMITED | 609 | 4.6 | 1.12 | 2.7 | 23.4 | 31.8 | — | 3.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 7.0 | 15.8 | 31 of 130 | 77% |
| P/B | 0.5 | 1.0 | 39 of 150 | 73% |
| ROCE | 8.1 | 2.1 | 44 of 177 | 76% |
| ROE | 6.3 | 2.3 | 50 of 158 | 69% |
| Debt / Equity | 0.1 | 0.1 | 85 of 154 | 45% |
| EBITDA margin | 6.0 | 4.5 | 61 of 137 | 56% |
| Revenue growth | 190.3 | (8.6) | 17 of 135 | 88% |
| Profit growth | (14.7) | 0.6 | 84 of 157 | 47% |
| Market cap | 36 | 22 | 72 of 180 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Non-applicability of Reg 57(5) for Q2 FY27 - No NCDs outstanding | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from October 1 ahead of Q2 results | compliance | minimal | — | — |
| 29 Aug 2026 · Board approves USD 152,183 investment in WOS Elementures Foodstuff Trading LLC | strategic transactions | low | — | — |
| 7 Aug 2026 · Growington Ventures publishes Q1 FY27 results in newspapers | compliance | minimal | — | — |
| 6 Aug 2026 · Q1 FY26 Results: Revenue jumps 185% YoY, PAT up 27% on standalone basis | results | high | — | — |
| 6 Aug 2026 · Q1 FY27 Results: Revenue nearly triples, PAT up 27% YoY | results | high | — | — |
| 3 Aug 2026 · Board meeting on 06 Aug 2026 to consider Q1 FY27 unaudited results | results | low | — | — |
| 30 Jul 2026 · Board approves Rs 1.89 crore overdraft from ICICI Bank against FDs | credit debt | medium | — | — |
| 16 Jul 2026 · Growington Ventures AGM 2026: All 6 Resolutions Passed | board shareholder meetings | low | — | — |
| 15 Jul 2026 · Growington Ventures holds 16th AGM, passes six resolutions | 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.