Kaveri Seed Company Limited

The Kaveri saga began in 1976 with the founder G.V.Bhaskar Rao a science graduate with his wife G Vanaja Devi as co-founder establishing a small seed production facility in Gatla Narsingapur village of Andhra Pradesh. In continuance of this entrepreneurial voyage, the idea sprouted as Kaveri Seeds and the company was formally incorporated in the year 1986. Currently, Kaveri is one of the fastest-growing seed company in India with a large network of over 15,000 distributors and dealers spread across the country. With over 700 employees and a strong product line of hybrids. The company is poised to go greater heights with its renewed focus on R&D and strong intent to invest in innovation by the management to deliver all brand promises. With one of the largest anthology of crop germplasm in the country, Kaveri’s draught and disease resistant as well as high yielding hybrid and varietal portfolio include Cotton, Corn, Rice, Jowar, Bajra, as well as vegetables such as Tomato, Okra, and gourds. The financials of the company looks good, RoNW is 18.50% and at CMP its looks fairly priced. Price difference is around 44% at CMP and acceptance ration as per current share holding for retail will be around 7% for retail, but it may be possible that this ratio may go down as more people will buy for buyback and so we may expect the final acceptance ratio may be around 15-20% and profit may be 8-10%. So we give NEUTRAL rating to this buyback.

• 1 Mr. Rajesh Pirogiwal
• 2 Mrs. Sunita Pirogiwal
• 3 Miss Tanvi Pirogiwal