Incorporated in 1990, Shri Ahimsa Naturals Limited extracts and manufactures Caffeine Anhydrous, Green Coffee Bean Extracts, and Crude Caffeine, while also trading other herbal extracts. The company has established itself as a prominent player in the specialty chemicals sector, focusing on natural extraction processes and serving multiple industries with its high-quality products. It supplies the food & beverages, nutraceuticals, cosmetics, and pharmaceutical industries. The company's products are valued for their health benefits and applications across diverse industrial segments, making it a versatile manufacturer with global reach.
Shri Ahimsa Naturals primarily processes crude caffeine procured from multiple decaffeination plants. The primary raw material is crude caffeine, a by-product of decaffeination plants. The company processes crude caffeine to manufacture Green Coffee Bean Extracts (GCE) and Caffeine Anhydrous Natural. This strategic approach allows the company to utilize by-products from decaffeination processes, creating value-added products from what would otherwise be waste material.
It processes crude caffeine from decaffeination plants in Vietnam and Mexico, extracting and refining it into its core products. Since 2022, it has also been manufacturing crude caffeine from tea and coffee waste. The diversification of raw material sources demonstrates the company's commitment to sustainable manufacturing practices and supply chain resilience.
To capitalize on opportunities, the company developed a process to extract GCE from crude caffeine and subsequently added GCE to its product portfolio. In response to growing demand for other herbal extracts from its customers, the Company expanded its product portfolio to include various herbal extracts in 2021.
The company's product range encompasses several key categories that serve different market segments:
- Natural Caffeine: Extracted from seeds of various plants like coffee and tea, their caffeine is used in energy drinks, soft drinks, cosmetics, and pharmaceuticals.
- Green Coffee Bean Extract (GCE): Sourced from unroasted green coffee seeds, this extract is rich in chlorogenic acid, known for its antioxidant properties and potential weight loss benefits.
- Herbal Extracts: The company's offerings include Ashwagandha P.E. 2.5% Withanolides (by HPLC & Gravimetry), CO2 & Water Extracted Caffeine, Curcumin Extract, Garcinia Cambogia, White Kidney Bean Extract, and Senna Extract.
The company exports its products to various countries including the USA, Germany, South Korea, the UK, and Thailand. This global footprint demonstrates strong international demand for the company's products and its ability to meet international quality standards. Shri Ahimsa Naturals operates from its registered office and manufacturing unit in Jaipur, Rajasthan, and primarily exports its products to over 14 countries. The strategic location in Rajasthan provides operational advantages while the company maintains a strong export focus.
Shri Ahimsa Naturals' Initial Public Offering (IPO) was a book-building issue aggregating ₹73.81 crores. The issue comprised a fresh issue of 42.04 lakh shares aggregating to ₹50.02 crores and an offer for sale of 19.99 lakh shares aggregating to ₹23.79 crores.
The IPO bidding period was from March 25, 2025, to March 27, 2025. The allotment was finalized on March 28, 2025, and the shares were listed on NSE SME on April 2, 2025. The IPO was subscribed 58.38 times.
The IPO price band was set at ₹119 per share. The scrip listed at ₹140, a premium of 17.65% over the IPO price.
The company has demonstrated strong financial performance with consistent profitability across recent years. For the year ended 2024, Shri Ahimsa Naturals Ltd. posted a profit of ₹18.67 crore on a total income of ₹77.98 crore.
Key Financial Metrics for Recent Periods:
- FY24: Net profit was ₹18.66 crore, compared to ₹38.2 crore in FY23. Revenue from operations stood at ₹78.08 crore, as against ₹106.14 crore in FY23.
- H1 FY25: For the first six months of FY2024-25, the firm posted a post-tax profit of ₹9.74 crore. Revenue from operations for 6M FY25 stood at ₹40.71 crore.
- FY25 Growth (as per Investor Presentation dated May 28, 2025): Reported 23% revenue growth, successful IPO listing, ₹700L capex plan, net debt-free status, and FSSC 22000 approval.
The company has delivered good profit growth with a 78.9% CAGR over the last 5 years. It also has a strong return on equity (ROE) track record, with a 3-Year ROE of 33.0%, highlighting efficient capital utilization.
- Market Capitalization: ₹361 crore (as of June 2025) / ₹327 Cr (as on April 7, 2025).
- P/E Ratio: 17.48 times (as on April 7, 2025), which is a 22% discount to its peers' median range of 22.31 times.
- 52-Week High: ₹173.00
- 52-Week Low: ₹126.50
As of the last reported quarter for Shri Ahimsa Naturals Ltd.:
- Promoter Holding: 68.7% (This decreased to 68.68% as of Apr 2025 from 94.23% as of Mar 2025).
- FII: 3%
- DII: 8.6%
- Public: 19.7%
The company has significantly reduced its debt and is now almost debt-free. This strong balance sheet position provides the company with financial flexibility for future growth investments and operations.
The natural caffeine offered by Shri Ahimsa Naturals conforms to the quality standards recommended by:
- United States Pharmacopoeia (USP)
- US Food and Chemical Codex (FCC)
- European Pharmacopoeia (EP)
- British Pharmacopoeia (BP)
- Indian Pharmacopeia (IP)
- Japanese Pharmacopoeia
These certifications underscore the company's commitment to maintaining international quality standards across its product portfolio.
