TGIF AgribusinessShare price, financial results, shareholding and management
- Market cap
- ₹33 cr
- Stock P/E
- 16.1peers 49.0
- Book value
- ₹49.2
- Price to book
- 2.56
- EV / operating profit
- -
- Market cap to sales
- 9.82
- ROCE · FY26
- 17.8%
- ROE · FY26
- 17.2%
- ROE, 3-year average
- 17.2%
- Operating margin · FY26
- 59.5%peers 4.3%
- Sales growth, 3 years
- -0.6%
- Profit growth, 3 years
- +16.1%
- Debt to equity
- 0.00peers 0.13
- Borrowings
- ₹0 cr
- Interest cover
- 209.0×
- Cash from business / op. profit
- 103%
- Debtor days
- 1
- Pledged
- 0.00%
- Promoter holding
- 73.28%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 140
- 52-week high / low
- ₹127 / ₹67
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
TGIF Agribusiness share price chart
Close on 6 Nov 2026 · +1.94% on the day · Vol 2,400
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- +16.7%
- 3 months
- +22.3%
- 6 months
- +43.2%
- 1 year
- +57.5%
- Traded a day, 20 days
- ₹0.04 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | -1% | +16% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | +7% | +25% |
About TGIF Agribusiness: business, products and customers
TGIF Agribusiness grows pomegranates, along with some dragon fruit, oranges and teak, on leased farm land in Rajasthan and sells the fresh fruit to wholesalers, shops and markets. Its shares trade on the BSE SME platform.
TGIF Agribusiness began as a partnership firm, Aarvee Farm Products, formed in 2014 by Niraj Chhaganraj Gemawat and Rachana Gemawat, and became a company in December 2023. It farms land near the villages of Ajari, Kasindra and Kojra in Pindwara tehsil, Sirohi district, using drip irrigation, fruit thinning and covers to protect the fruit, with farmers and workers from nearby villages doing the field work under its supervision. Pomegranates bring in nearly all the money; dragon fruit, oranges and teak trees are smaller crops.
The fruit is graded, packed to each buyer's needs and sold mainly to wholesalers, retail chains, hypermarkets and mandis; the company has also sold directly to homes in Ahmedabad through a delivery service. Because it grows its own crop on leased land, its main costs are wages, land rent, farm materials and wear on equipment rather than bought goods, so most of each rupee of sales is left as profit in a good year. Buyers pay quickly and no stock is carried at the year end, so profit turns into cash, but the harvest is seasonal and both yields and fruit prices depend on the weather.
Read more about the business
The company listed on BSE SME in May 2024. Much of the money raised is still held in bank deposits and money market funds, and the interest on it forms a noticeable part of reported profit. The annual reports do not name any competitor or comparable listed company.
From the annual reports for FY26 and FY25.
Read the deeper study ↓In its favour
- It brings in more cash than it shows as profit: ₹2 cr against ₹2 cr in FY26.
- It has little debt for its size: debt to equity 0.00.
- The promoters own a large part of the company: 73.28%.
To watch
- Use of the remaining half of the offer money on farm equipment, irrigation and working capital (Annual report FY26, p.30).
- The company's stated plan to expand its farms and its distribution network (Annual report FY26, p.8 to 9).
- The stated plan to take its direct-to-home sales beyond Ahmedabad to other parts of the state (Annual report FY26, p.8).
- The five-year leases of farm land from the promoters, approved by the board in May 2025 (Annual report FY26, p.44).
- Customers take longer to pay than before: 1 days in FY26, against 0 in FY25.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
TGIF Agribusiness revenue and profit growth
Half-yearly results · Profit and lossSales have fallen. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
TGIF Agribusiness half-yearly results
SME companies report every six months · ₹ crore
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Sales | 1.53 | 1.87 | 1.48 | 1.73 | 1.59 |
| Expenses | 0.89 | 0.79 | 0.79 | 0.68 | 0.66 |
| Operating profit | 0.64 | 1.08 | 0.69 | 1.04 | 0.93 |
| OPM | 42.0% | 58.0% | 46.5% | 60.3% | 58.7% |
| Interest | 0 | 0 | 0 | 0 | 0.01 |
| Depreciation | 0.04 | 0.09 | 0.09 | 0.07 | 0.07 |
| Profit before tax | 0.67 | 1 | 0.83 | 1.09 | 1 |
| Net profit | 0.67 | 0.97 | 0.77 | 1.06 | 0.96 |
TGIF Agribusiness profit and loss
Full years to March, FY25 to FY26 · ₹ crore, consolidated where reported
| FY25 | FY26 | |
|---|---|---|
| Sales | 3.34 | 3.32 |
| Expenses | 1.57 | 1.34 |
| Operating profit | 1.77 | 1.98 |
| OPM | 52.9% | 59.5% |
| Other income | 0.25 | 0.26 |
| Interest | 0 | 0.01 |
| Depreciation | 0.18 | 0.14 |
| Profit before tax | 1.83 | 2.08 |
| Tax rate | 4.9% | 2.9% |
| Net profit | 1.74 | 2.02 |
| EPS ₹ | 6.72 | 7.79 |
| Dividend payout | 0.0% | 0.0% |
TGIF Agribusiness profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY25 | FY26 | |
|---|---|---|
| Operating margin | 52.9% | 59.5% |
| Tax rate | 4.9% | 2.9% |
| ROCE | · | 17.8% |
| ROE | · | 17.2% |
| Dividend payout | 0.0% | 0.0% |
TGIF Agribusiness debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It has almost no borrowings. Last year the business brought in more cash than it showed as profit. It spent more on assets and investments than the business brought in, and drew on its cash. Customers take longer to pay than they did in FY25, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
TGIF Agribusiness balance sheet
At each 31 March · ₹ crore
| FY25 | FY26 | |
|---|---|---|
| Equity capital | 2.59 | 2.59 |
| Reserves | 8.12 | 10.13 |
| Net worth | 10.71 | 12.72 |
| Borrowings | 0 | 0 |
| Other liabilities | 0.29 | 0.26 |
| Total liabilities | 11 | 12.98 |
| Fixed assets | 0.47 | 0.43 |
| Capital work in progress | 0 | 0 |
| Investments | 4.99 | 8.17 |
| Other assets | 5.54 | 4.38 |
TGIF Agribusiness cash flow
₹ crore
| FY25 | FY26 | |
|---|---|---|
| Cash from operations | 1.04 | 2.03 |
| Cash from investing | -3.64 | -3.02 |
| Cash from financing | 6.39 | 0 |
| Net cash flow | 3.79 | -0.99 |
Working capital
Days
| FY25 | FY26 | |
|---|---|---|
| Debtor days | 0 | 1 |
| Inventory days | 0 | 0 |
| Cash conversion cycle | 0 | 1 |
| Working capital days | 34 | 20 |
TGIF Agribusiness peers and competitors
Listed SME companies in the same industryBy sales, TGIF Agribusiness is number 37 of the 37 listed SME companies in agricultural food & other products.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Sawaliya Food Products | 188 | 23.5 | 41.3 | 8 | 29.4% | 0.31 |
| Dhanlaxmi Crop Science | 42 | - | 38.1 | -0.5 | 2.7% | 0.23 |
| Neopolitan Pizza And Foods | 12 | 61.2 | 29.5 | 0.2 | 1.7% | 0.02 |
| Kck Industries | 97 | 229.0 | 29.5 | 0.4 | 0.1% | 0.08 |
| Indong Tea Company | 12 | - | 23 | -0.8 | 7.3% | 0.17 |
| Times Green Energy (India) | 47 | 211.6 | 22 | 0.2 | 3.4% | 0.02 |
| City Crops Agro | 91 | - | 19.5 | -3.9 | 64.0% | 0.00 |
| Hamps Bio | 21 | - | 8.5 | -0.7 | 0.5% | 0.85 |
| Raghuvansh Agrofarms | 41 | 9.3 | 7.7 | 4.4 | 26.3% | 0.19 |
| Pearl Green Clubs and Resorts | 30 | 36.7 | 5.9 | 0.8 | 5.1% | 0.00 |
| TGIF Agribusiness | 33 | 16.1 | 3.3 | 2 | 59.5% | 0.00 |
| Median of the 10 others | 42 | 49 | 22.5 | 0.2 | 4.3% | 0.13 |
TGIF Agribusiness shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
TGIF Agribusiness shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| May 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | |
|---|---|---|---|---|---|
| Promoters | 73.28% | 73.28% | 73.28% | 73.28% | 73.28% |
| Number of shareholders | 432 | 187 | 155 | 150 | 140 |
TGIF Agribusiness study: the business from its own documents
Read from 3 of the company's own documentsTGIF Agribusiness key facts from the filings
Each figure with the document it comes from
- Farm land
- Over 110 acres
- Spread around three villages in Pindwara tehsil, Sirohi district, Rajasthan; the same area as a year earlier.Annual report FY26, p.6
- Pomegranate share
- More than 95%
- Share of revenue from pomegranates, so one crop decides the year.Annual report FY26, p.53
- Land leased from promoters
- ₹0.07 cr a year
- Rent for farm land leased from Rachana Gemawat, Niraj Gemawat and Niraj Gemawat HUF, under five-year leases approved in May 2025; one more lessor is outside the family. Reported figures; our arithmetic.Annual report FY26, p.9 and p.44
- Cash and funds
- ₹12.1 cr
- Bank deposits and money market funds at March 2026, about 93% of total assets; the company has no borrowings. Reported figures; our arithmetic.Annual report FY26, p.72 and p.82 to 83
- IPO money used
- ₹3.2 cr of ₹6.4 cr
- Spent by March 2026 on farm equipment, irrigation, working capital and general purposes, with no change to the stated uses.Annual report FY26, p.30
Show 5 more facts
- Interest income
- ₹0.25 cr
- Earned on fixed deposits in FY26, about an eighth of profit before tax. Reported figures; our arithmetic.Annual report FY26, p.73 and p.82
- Tax charge
- ₹0.07 cr
- Tax provided in FY26 on profit before tax of ₹2.1 cr.Annual report FY26, p.73
- Stock and dues
- Nil stock
- No inventory at March 2026, and only ₹0.01 cr owed by customers, so buyers pay almost at once.Annual report FY26, p.82 to 83
- Employees
- 5
- Permanent staff on the rolls; field work is done by farmers and workers engaged from nearby villages.Annual report FY26, p.6 and p.45
- Promoters' stake
- 71.74%
- Held by Niraj C Gemawat (54.70%) and Rachana Gemawat (17.04%) at March 2026.Annual report FY26, p.75
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
TGIF Agribusiness earns its money from one main crop grown on leased land, with low costs and buyers who pay at once.
Its weak spots are dependence on a single fruit, on the weather and market prices, and on land leased from its promoters.
WatchCan it set its own prices?It sells fresh fruit into wholesale and mandi markets, so it takes the going price rather than setting it.
AverageHow strong is it against rivals?Careful farming methods help it grade and pack good fruit, but it has no brand or contract that keeps buyers from going elsewhere.
AverageWho are its customers?Buyers are traders and retailers who pay quickly, but none is named and there is no disclosure of how much any single buyer takes.
StrongDoes it need a lot of money?The farm runs on leased land with little equipment and no debt, and half the money raised at listing is still unspent.
WatchCan it keep finding new work?Selling the crop is not the problem, but growing needs more land or more fruit per acre, and the farm area has not changed.
WatchDo good and bad years swing a lot?A farm's harvest and fruit prices move with the weather and the season, so results can change sharply from one year to the next.
Who runs TGIF Agribusiness?
Promoters, directors and officers; tap a name for the background
RNRachana Niraj GemawatPromoter and Managing Director · holds 17.04%
Managing Director since 3 June 2024; formed the original partnership firm, Aarvee Farm Products, with Niraj Chhaganraj Gemawat in February 2014. The annual report records Niraj Gemawat as the spouse of Rachana Gemawat. The reports give no education or earlier work history.
Annual report FY25, p.57; Annual report FY26, p.26 and p.85NCNiraj Chhaganraj GemawatPromoter and Non-Executive Director · holds 54.70%
Holds a Bachelor of Engineering from Ahmedabad and an MBA from Pune, with over 30 years in business development and finance; associated with the company since inception. Served on the Government of Gujarat's Cybercrime Advisory Board from 2014 to 2019 and is Managing Director of Nintec Systems Limited.
Annual report FY26, p.25 to 26IAIndrajeet Anath MitraNon-Executive Director
Holds a Master of Computer Application from Gujarat University and a B.Sc., with more than 25 years in software for network monitoring, protocol stacks, embedded systems and business applications; on the board since December 2023 and also a director of Nintec Systems Limited.
Annual report FY25, p.28AVAmrish VashishthaChief Financial Officer
Named as Chief Financial Officer and a key managerial person; the annual reports give no further background.
Annual report FY26, p.10 and p.45GBGeetika Bhushan SalujaIndependent Director
Chairs the audit committee and the nomination and remuneration committee; the annual reports give no further background.
Annual report FY26, p.10TGIF Agribusiness latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹1.6 cr (+7%), net profit ₹1 cr (+25%) on H2 FY25.
- Shareholding, 31 March 2026: promoters unchanged at 73.28%.
TGIF Agribusiness announcements
1 on record, latest first; each opens the filing on the exchange
TGIF Agribusiness annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
TGIF Agribusiness share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on TGIF Agribusiness' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (25,87,600 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY25 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about TGIF Agribusiness
What does TGIF Agribusiness do?
TGIF Agribusiness grows pomegranates, along with some dragon fruit, oranges and teak, on leased farm land in Rajasthan and sells the fresh fruit to wholesalers, shops and markets. Its shares trade on the BSE SME platform.
What is the share price of TGIF Agribusiness?
₹126 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of TGIF Agribusiness?
₹33 cr at the close on 6 Nov 2026, on 25,87,600 shares.
What is the P/E of TGIF Agribusiness?
16.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are TGIF Agribusiness' revenue and profit?
Revenue ₹3 cr and profit after tax ₹2 cr in FY26.
Who are the promoters of TGIF Agribusiness?
Rachana Niraj Gemawat, Niraj Chhaganraj Gemawat; promoters held 73.28% at 31 March 2026.
What is TGIF Agribusiness' website?
www.tgifagri.com
More SME companies like TGIF Agribusiness
Other listed SME companies in agricultural food & other products, the closest in size first, each read from its own documents.
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Every listed SME company in Agricultural Food & other Products →
Built from 3 annual reports, 1 exchange announcements, 5 shareholding patterns and 2 years of reported results. Every figure carries its source; where the documents are silent, the page says so.