| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 317.39 | 337.62 | 383.80 |
| Expenses | 309.12 | 325.26 | 367.60 |
| Other Income | 0.76 | 2.03 | 4.83 |
| Total Revenue | 318.15 | 339.65 | 388.63 |
| Profit Before Tax | 9.03 | 14.39 | 21.04 |
| Net Profit | 6.66 | 10.35 | 15.61 |
Green Asia Impex
Green Asia Impex IPO
₹2,72,000
0.01 xOver-subscribedBidding Dates 24 Sept, 26 -28 Sept, 26
Min Investment ₹2,72,000
Lot Size1,600
Price Range ₹85 – ₹90
Issue Size ₹60.10 Cr.
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IPO Subscription Details
Retail Subscription Details
0.02 x
Non-Institutional Buyers (sHNI)
0.01 x
Non-Institutional Buyers (bHNI)
0 x
Qualified Institutional Buyers (QIB)
0 x
Total0.01 x
0.01 x IPO Timeline
IPO Offer Start
24 Sept,26
IPO Offer Ends
28 Sept,26
Allotment Finalisation
29 Sept,26
Refund Initiation
30 Sept,26
Listing of Shares
01 Oct,26
IPO Analysis
Strengths
The company operates export-oriented processing facilities equipped with grading machines, plate freezers, IQF hardeners, and cold storage units, holding certifications including HACCP, ISO 22000, FSSAI, and FDA registration to meet international food safety and regulatory requirements.
The company has maintained repeat customer revenue of ₹28,382.97 lakhs (73.95% of revenue) in Fiscal 2026, with exports to 7 countries including China, Kuwait, USA, Malaysia, UK, Vietnam, and Thailand, reflecting over a decade of industry relationships.
The company has established relationships with trader-cum-commission agents in Agricultural Market Committee markets, enabling reliable access to shrimps and dried chillies across seasonal variations, with all procured materials subject to quality checks before acceptance.
Risks
The company derives a significant portion of its revenue from exports to China, with sales to Chinese customers aggregating ₹12,009.32 lakhs (31.29% of revenue from operations) in Fiscal 2026. Any adverse economic, regulatory, or geopolitical developments in China — including changes in import policies, trade barriers, or bilateral tensions — could materially impact revenues and profitability.
The company's top 10 customers across both segments accounted for 77.85% of revenue from operations in Fiscal 2026, up from 69.52% in Fiscal 2025. The absence of long-term agreements means customers can cancel or modify orders without compensation, posing a significant threat to revenue stability.
The company has reported negative net cash flows from operating activities in each of Fiscals 2024, 2025, and 2026 (₹(1,499.90) lakhs, ₹(505.82) lakhs, and ₹(626.63) lakhs respectively), with net working capital days rising from 52 to 90 over the same period. Any inability to meet working capital requirements or service total borrowings of ₹9,946.76 lakhs could materially affect financial condition and operations.
Objectives
A portion of the Net Proceeds is intended to be utilized towards funding the capital expenditure for setting up a proposed seafood processing facility, including purchase and installation of plant, machinery, and equipment, with the balance funded from internal accruals.
The balance Net Proceeds are intended to be deployed towards general corporate purposes, including purchase of raw materials, working capital requirements, strategic initiatives, employee-related expenses, and other ordinary course of business activities, subject to a cap of lakhs or 15% of Gross Proceeds of the Fresh Issue, whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 135.23 | 192.04 | 254.88 |
| Current Assets | 118.10 | 177.95 | 236.84 |
| Fixed Assets | 17.13 | 14.09 | 18.03 |
| Total Equity & Liabilities | 135.23 | 192.04 | 254.88 |
| Total Liabilities | 119.77 | 166.23 | 213.45 |
| Current Liabilities | 108.85 | 158.00 | 204.86 |
| Non Current Liabilities | 10.92 | 8.23 | 8.60 |
| Total Equity | 15.46 | 25.81 | 41.43 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -0.14 | 0.44 | -0.39 |
| Investing Activities | -1.07 | 0.48 | -6.20 |
| Operating Activities | -15.00 | -5.06 | -6.27 |
| Financing Activities | 15.93 | 5.02 | 12.08 |
About Green Asia Impex
Green Asia Impex Limited, incorporated in 2014 and headquartered in Tadepalligudem, Andhra Pradesh, is engaged in the sourcing, processing, and export of frozen seafood and agri-commodities, primarily frozen shrimps (87.76% of FY2026 revenue) and dried chillies. The company supplies B2B customers including importers, distributors, and food processing entities across domestic...more
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Managing DirectorPasupuleti Venkata Ramarao
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