SAIFL - Sameera Agro

📊 NSE: SAIFL 🏢 Food - Processing - Indian 📅 Last Updated: 12/14/2025 12:43

💰 Financial Performance

Revenue Growth by Segment

Revenue from Agri Commodities grew 10.97% YoY in H1 FY26, reaching INR 111.17 Cr compared to INR 100.18 Cr in H1 FY25. Standalone revenue for Q2 FY26 grew 29.88% YoY to INR 59.35 Cr.

Profitability Margins

Net Profit Margin for H1 FY26 was 6.06% (INR 6.74 Cr), a slight decrease from 6.17% (INR 6.18 Cr) in H1 FY25. Gross margins are tight as raw material costs represent 93.96% of revenue.

EBITDA Margin

EBITDA margin for H1 FY26 was 8.66% (INR 9.63 Cr), improving from 8.41% (INR 8.43 Cr) in H1 FY25.

Capital Expenditure

Purchase of Fixed Assets in FY25 was INR 4.14 Cr. Investing activities in H1 FY26 were minimal at INR 0.30 Cr.

Credit Rating & Borrowing

Short-term borrowings stood at INR 4.50 Cr as of September 30, 2025. Finance costs increased significantly by 2,610% YoY to INR 0.1057 Cr in H1 FY26 from INR 0.0039 Cr in H1 FY25.

⚙️ Operational Drivers

Raw Materials

Agri Commodities (primary raw material) accounting for 93.96% of total revenue costs in H1 FY26.

Import Sources

Primarily sourced from India (local procurement for agri-commodities).

Raw Material Costs

Raw material costs were INR 104.46 Cr in H1 FY26, representing 93.96% of revenue, up from 81.65% (INR 81.80 Cr) in H1 FY25.

📈 Strategic Growth

Expected Growth Rate

11%

Growth Strategy

Expansion of agri-commodity trading volumes and integration of distillery operations through the subsidiary Globe Continental Distilleries Private Limited. The company is also focusing on infrastructure projects to diversify revenue streams.

Products & Services

Agri Commodities (trading), Distillery products (via subsidiary), and Infrastructure projects.

Brand Portfolio

Sameera Agro and Infra Limited, Globe Continental Distilleries.

New Products/Services

Distillery products through the subsidiary Globe Continental Distilleries Private Limited are expected to contribute to consolidated revenue.

Strategic Alliances

Subsidiary relationship with Globe Continental Distilleries Private Limited.

🌍 External Factors

Industry Trends

Modernization of agri-infrastructure and shift towards organized commodity trading and value-added processing in the distillery sector.

Competitive Landscape

Operates in a highly fragmented agri-commodity market with competition from both organized and unorganized players.

Competitive Moat

Moat is based on an integrated model of agri-trading and infrastructure, though sustainability is challenged by low margins and high commodity price sensitivity.

Macro Economic Sensitivity

High sensitivity to agricultural output cycles and monsoon patterns affecting commodity availability and pricing.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Companies Act 2013, SEBI Listing Regulations, and Accounting Standards (AS 20, Ind AS 34). Implementation of audit trail facility as per Rule 3(1) of Companies (Accounts) Rules.

Taxation Policy Impact

Effective tax rate for H1 FY26 was approximately 29% (INR 2.77 Cr tax on INR 9.51 Cr PBT).

⚠️ Risk Analysis

Key Uncertainties

Commodity price volatility (94% cost base), regulatory compliance risks (NSE queries on XBRL and filing formats), and high working capital requirements.