Peshwa Wheat Ltd.
PROSPECTUS · filed 24 Sept 2026
Peshwa Wheat Ltd. is a food processing company that procures wheat, chana dal, and maize kernel from Madhya Pradesh to manufacture flours. The offer structure consists of a fresh issue of equity shares, an offer for sale of equity shares by promoters, and an offer for sale by selling shareholders, with the net proceeds proposed to be used for general corporate purposes. The company reported a revenue of Rs 311.5 crore and a profit after tax of Rs 20.1 crore in the latest financial year, but it has faced negative cash flows from operating activities in recent periods due to rising inventories and trade receivables. A key risk is the high customer concentration, where the top five customers account for 64.14% of revenue, and the company relies on a single state for 100% of its raw material procurement.
What stands out
Risk factor. The company relies on a limited number of customers for its sales, and the loss of any major customer could adversely impact our revenue and profitability. The top 1 customer contributed 18.89% of total revenue from operations in the financial year ended March 31, 2026, and the top 5 customers contr
Risk factor. The company relies on a limited number of suppliers for product procurement, and the loss of any key supplier could impact our business operations. The top 1 supplier accounted for 38.48% of purchases in the financial year ended March 31, 2026, and the top 5 suppliers accounted for 51.62%.
How the offer is structured
- Funding Capital Expenditure towards Purchase of Plant and Machineries₹6.7 Cr
- Funding Capital Expenditure towards Civil Construction₹5.0 Cr
- Funding Working Capital Requirements₹26.5 Cr
- General Corporate Purposes
Restated financials
Revenue
₹312 Cr
Latest fiscal year
Profit after tax
₹20.1 Cr
Revenue CAGR
0.0%
Return on equity
6.5%
Debt / equity
0.55
PAT CAGR
0.0%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2023 | ₹312 Cr | ₹28.1 Cr | ₹20.1 Cr | ₹312 Cr |
| 2024 | ₹312 Cr | ₹28.1 Cr | ₹20.1 Cr | ₹312 Cr |
| 2025 | ₹312 Cr | ₹28.1 Cr | ₹20.1 Cr | ₹312 Cr |
| 2026 | ₹312 Cr | ₹28.1 Cr | ₹20.1 Cr | ₹312 Cr |
Promoters, litigation & related parties
Proceedings
276
Risks the company discloses
The company relies on a limited number of customers for its sales, and the loss of any major customer could adversely impact our revenue and profitability. The top 1 customer contributed 18.89% of total revenue from operations in the financial year ended March 31, 2026, and the top 5 customers contributed 64.14%.(Customer Concentration)
The company relies on a limited number of suppliers for product procurement, and the loss of any key supplier could impact our business operations. The top 1 supplier accounted for 38.48% of purchases in the financial year ended March 31, 2026, and the top 5 suppliers accounted for 51.62%.(Supplier Concentration)
The company has reported negative cash flows from operating activities in the financial year ended March 31, 2025 (₹ 1,564.45 Lakhs) and the period ended March 31, 2024 (₹ 202.41 Lakhs). The negative cash flow from operating activities in the financial year ended March 31, 2025 is due to an increase in inventories by ₹ 503.99 Lakhs, an increase in trade receivables by ₹ 1,390.11 Lakhs, and an increase in short-term loans and advances by ₹ 802.75 Lakhs.(Liquidity)
The company's dependence on raw material procurement from a single state exposes it to operational and financial risks. The company procures 100% of its raw material requirements, such as wheat, chana dal, and maize kernel, from the state of Madhya Pradesh.(Geographic Concentration)
Wheat, Chana Dal, Maize Kernel and their flours require controlled storage conditions, and any inadequacies in storage may lead to spoilage, infestation, or loss of product value, which could materially affect our operations and financial results.(Operational Risk)
The company has reported negative cash flows from investing activities in the financial year ended March 31, 2025 (₹ 11.98 Lakhs) and the period ended March 31, 2024 (₹ 168.57 Lakhs). The negative cash flow from investing activities in the financial year ended March 31, 2025 is due to the addition of property, plant and equipment of ₹ 54.95 Lakhs and the disposal of property, plant and equipment of ₹ 24.28 Lakhs.(Liquidity)
The company has reported negative cash flows from financing activities in the financial year ended March 31, 2025 (₹ 4.28 Lakhs) and the period ended March 31, 2024 (₹ 503.49 Lakhs).(Liquidity)
The company has reported negative cash flows from operating activities in the period ended December 31, 2023 (₹ 430.84 Lakhs). The negative cash flow from operating activities in the period ended December 31, 2023 is due to an increase in inventories by ₹ 470.57 Lakhs, an increase in trade receivables by ₹ 54.30 Lakhs, and an increase in short-term loans and advances by ₹ 29.86 Lakhs.(Liquidity)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.