New Delhi, 12 March (H.S.): Elfin Agro India Ltd, engaged in the production of wheat flour, semolina, refined flour, and yellow mustard oil, made a subdued yet positive entry into the stock market today, listing at a nominal premium on the BSE SME platform.
Listing PerformanceThe company's shares, issued at ₹47 apiece through its IPO, opened at ₹47.30—a modest 0.64% premium—buoyed by initial buying interest that pushed them to a high of ₹48.05.
Profit-taking ensued shortly after, leading to a slight dip, with shares trading at ₹47.34 by 11 a.m., yielding IPO investors a 0.72% gain.
IPO Overview
The ₹25.03 crore IPO, featuring 53.25 lakh fresh shares of ₹5 face value, opened for subscription from March 5 to 9 and achieved 1.35 times overall oversubscription.
Non-institutional investors subscribed 2.12 times their portion, while retail participation lagged at 0.59 times; proceeds will fund working capital and general corporate needs.
Elfin Agro reported steady profit growth, with net profit rising from ₹1.81 crore in FY23 to ₹3.68 crore in FY24 and ₹5.08 crore in FY25; revenue climbed from ₹101.45 crore to ₹124.71 crore and ₹146.44 crore over the same periods.
EBITDA expanded from ₹3.11 crore in FY23 to ₹5.82 crore in FY24 and ₹7.54 crore in FY25, though debt increased to ₹12.69 crore by December 31, 2025, alongside reserves and surplus reaching ₹10.71 crore. For the nine months ended December 2025, net profit stood at ₹3.98 crore on ₹117.72 crore revenue.
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Hindusthan Samachar / Jun Sarkar
