Peshwa Wheat
What they do: The company operates in the wheat processing sector, focusing on the production and distribution of wheat-based products. It has transitioned from a partnership firm to a public limited company, indicating an expansion strategy and increased market engagement.
By IPO Milega Research · Published
Analysis score 5.8 +1.5 for 177.12x QIB subscription
Peshwa Wheat Limited shows strong revenue growth and profitability, with a healthy balance sheet and manageable debt levels.
- GMP (unofficial)
- +0%
- ₹0 a share
- Subscribed
- 2.77x
- Total
- Retail odds
- 58%
- 1 in 1.7
GMP is an unofficial grey market indication.
- Price band
- ₹95-101
- Lot size
- 2400 shares
- Min. investment
- ₹2,42,400
- Issue size
- 53.52 Cr.
- Open24 Sept 2026
- Close28 Sept 2026
- Allotment29 Sept 2026
- Listing1 Oct 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 177.12x
- NII
- 0.35x
- Retail
- 1.72x
₹101 (+0.00%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials7.0
- Performance7.0
- Flexibility7.0
- Timing5.0
- Risk3.0
The Grey Market Premium (GMP) for Peshwa Wheat Limited is 101, indicating no premium over the issue price. This suggests that the market does not expect significant listing gains. Additionally, while the company has strong financial fundamentals and growth potential, the high dependency on a few customers and suppliers, along with macroeconomic risks, may limit immediate gains.
Strengths2
- Achieved a revenue of ₹21,593.52 lakhs in FY 2026.
- Maintained a PAT margin of 7.32%.
Concerns5
- High dependency on a limited number of customers and suppliers.
- Negative cash flows from operating activities.
- Regulatory non-compliance and potential penalties.
- Geographical concentration of raw material procurement.
- Potential supply chain disruptions.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,42,4002 lots, 2,400 shares
- Retail Maximum2,42,4002 lots, 2,400 shares
- S-HNI Minimum3,63,6003 lots, 3,600 shares
- S-HNI Maximum9,69,6008 lots, 9,600 shares
- B-HNI Minimum10,90,8009 lots, 10,800 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2,400 | 2,42,400 |
| Retail Maximum | 2 | 2,400 | 2,42,400 |
| S-HNI Minimum | 3 | 3,600 | 3,63,600 |
| S-HNI Maximum | 8 | 9,600 | 9,69,600 |
| B-HNI Minimum | 9 | 10,800 | 10,90,800 |
Timing
5.0/10The timing of Peshwa Wheat's IPO is moderate. While the company is leveraging the SME platform of BSE, which can provide visibility and access to capital, the broader economic and market conditions present significant risks. The absence of a prior public market for its shares and potential volatility in trading could deter investors. Furthermore, macroeconomic factors such as interest rate changes and geopolitical tensions could adversely affect the IPO's success.
- Time to market
- The company's transition from a partnership to a public limited company is recent, and the IPO is being launched shortly after this change. This rapid move to market may not allow sufficient time for the company to establish a stable operational and financial track record as a public entity, potentially impacting investor confidence.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Neutral
- Time to market
- 4.0
- Listing on
- BSE SME
Key milestones
- 24 Sept 2026IPO Opens
- 28 Sept 2026IPO Closes
- 29 Sept 2026Basis of Allotment
- 30 Sept 2026Refunds Initiated
- 30 Sept 2026Credit to Demat Account
- 1 Oct 2026Listing Date
Financials
7.0/10- Revenue
- ₹216 Cr
- +25.9%
- Profit after tax
- ₹15.81 Cr
- +33.5%
- Net margin
- 7.3%
- +0.4 pts
- Assets
- ₹80.6 Cr
- +22.2%
- Return on equity
- 36.71
- Debt to equity
- 0.87
- Current ratio
- 2.07
- Revenue CAGR
- 25%
- ROCE
- 33.44%
- Return on net worth
- 36.71%
- NAV per share (₹)
- 31.37
Financial performance trend
Amount ₹ in croresPeshwa Wheat Limited shows strong revenue growth and profitability, with a healthy balance sheet and manageable debt levels. The company has demonstrated a consistent increase in revenue and profit over the past years, indicating a robust business model.
Risk
3.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks2
- Market risks2
- Operational risks2
- Regulatory risks1
High dependency on few customers and suppliers, regulatory non-compliance, and financial instability pose significant risks.
How the company offsets these
Diversify customer and supplier base, improve cash flow management, and ensure regulatory compliance.
Financial risks2
- Negative cash flows from operating activities.
- High dependency on a limited number of customers and suppliers.
Market risks2
- Geographical concentration of raw material procurement.
- Potential supply chain disruptions.
Operational risks2
- High dependency on a limited number of customers and suppliers.
- Potential supply chain disruptions.
Regulatory risks1
- Regulatory non-compliance and potential penalties.
Performance
7.0/10Peshwa Wheat Limited has demonstrated a solid financial performance with a revenue of ₹21,593.52 lakhs and a PAT margin of 7.32% for FY 2026. The company faces risks due to its dependency on a limited number of customers and suppliers. The management's ability to navigate these risks and leverage tax benefits under Section 115BAA could enhance profitability. However, the company's growth is susceptible to external economic conditions and regulatory changes.
- Historical growth
- The company has shown a steady increase in revenue and profitability over the years, with a notable PAT margin of 7.32% in FY 2026., Moderate
- Market comparison
- Peshwa Wheat Limited operates in a competitive market with significant reliance on key customers and suppliers, which is a common challenge in the industry.
- Future potential
- The company has potential for growth by expanding its customer base and optimizing supply chain management.
- Operational consistency
- The company has maintained stable revenue growth and profitability over the past few years, indicating consistent operational execution.
- Experience
- The management team has experience in navigating regulatory changes and optimizing tax benefits.
- Track record
- The management has successfully maintained profitability and growth despite market challenges.
Key achievements
- 01Achieved a revenue of ₹21,593.52 lakhs in FY 2026.
- 02Maintained a PAT margin of 7.32%.
Flexibility
7.0/10The company primarily operates in Madhya Pradesh, with limited revenue from other states, indicating a regional concentration. However, it plans to expand its market presence across India, which could improve adaptability.
The company shows strong financial stability with increasing revenue and profit margins. It has a low debt-equity ratio and a healthy current ratio, indicating good financial health.
The company has integrated processing operations and a strong supply chain, which enhance operational efficiency. However, it relies heavily on a few key customers and suppliers, which could impact agility.
The company demonstrates moderate flexibility and adaptability, with a focus on expanding its production capacity and diversifying its product offerings. It has a strong financial performance and a strategic plan for growth, but faces challenges in market concentration and competition.
- Product diversification
- The company offers a range of wheat-based and other flour products, including Atta-wheat flour, Sortex Wheat, Broken Wheat, Gram Flour, and Maize Flour, indicating a moderate level of product diversification.
- Future adaptability
- The company plans to enhance its production capacity and market presence, which could improve its adaptability to future market changes. However, it faces intense competition and regulatory challenges.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.