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TBI Corn Limited IPO Review

TBI Corn Limited are dedicated to delivering excellence. With over 20 years of experience, they are a trusted industry leader. Their core values focus on offering quality products and ensuring timely shipments to meet their clients' diverse needs. They are a top manufacturer in the corn grits industry. Founded in 1999, their fully automated machinery allows them to produce 150 tons daily. They source the best quality maize from Northern Karnataka and Andhra Pradesh, regions that contribute 38% of India's total maize production.

Corn grits consumption has grown significantly, especially in the snack food industry, where new recipes and uses are constantly being developed. At TBI Corn Ltd, they provide a wide range of products and conduct research to meet the changing demands of the industry.

TBI Corn Limited IPO Products and Services

Their company provides a variety of products such as cleaned and fat-free corn grits/meal, corn flakes, stone-free broken maize, corn flour, and turmeric finger. All their products are free from chemical additives, preservatives, and GMOs. They are ISO certified and have certificates from MSME and APEDA, as being Indian Organic and USDA Organic certified. They've expanded globally, reaching markets in the Gulf, Sri Lanka, Malaysia, Brunei, Vietnam, South Korea, and soon, Europe and the US.

They proudly serve well-known companies across India, supplying products for the corn starch and cattle feed industries, with plans to grow further in this area. Their dedicated research and development teams focus on continuous innovation and strategic growth. Known for their quality and innovation, their company is a trusted name in the corn milling industry. As they expand globally, they remain committed to delivering high-quality corn products to customers around the world.

Financial Overview  

The company operates in a very competitive and fragmented corn milling market. It has shown impressive growth over the past 21 months, sparking some concerns about its long-term sustainability. Given the strong earnings projected for FY24, the stock seems to be priced quite high. Informed investors might consider investing a moderate amount for potential medium-term gains.