Shreeji Global FMCG

Shreeji Global FMCG received an order-in-original dated 27 October 2026 from the Commissioner of Customs, Mundra, demanding customs duty of ₹16.93 crore plus interest and imposing matching penalties and fines. The order levied a penalty of ₹16.93 crore under Section 114A and ₹1 crore under Section 114(iii), redemption fines aggregating ₹6 crore and aggregate penalties of ₹1.6 crore on a director and key managerial personnel, while appropriating ₹75 lakh already deposited towards duty. The alleged contravention related to advance authorisation conditions for duty-free imports of coriander seeds, including domestic diversion and export-obligation irregularities. The company decided to challenge the order before the Customs, Excise and Service Tax Appellate Tribunal and expressed confidence in a favourable outcome. The company had faced a customs summons in April 2025 seeking documents for an import and export case. Revenue was ₹769.16 crore in the year to March 2026 with net profit of ₹19.92 crore and a PBILDT margin of about 4.1%. The business remained concentrated in business-to-business spice processing, with wholesale distributors as the largest buyer group.

Powered by Tijori

Shreeji Global FMCG's board approved raising up to Rs40.74 crore through 22,02,280 convertible warrants priced at Rs185 each to promoter-group and non-promoter investors, subject to shareholder approval. The board also approved a 1-for-1 bonus issue and an increase in authorised capital to Rs50 crore, with an extraordinary general meeting convened for November 26. The company switched the vendor for certain IPO-funded plant machinery from Buhler India to Monu Engineering, with cost, scope and timelines unchanged. The company derived about 86-95% of revenue from spices and reported total operating income of Rs769.16 crore in FY26 with thin margins. It listed on NSE Emerge in November 2025 after an Rs85 crore initial public offering earmarked for factory, machinery, solar and working capital. CARE reaffirmed a BBB/Stable long-term rating on Rs50 crore of facilities in October 2026.

Powered by Tijori

Shreeji Global FMCG's board approved raising up to Rs40.74 crore via 22,02,280 convertible warrants priced at Rs185 each to promoter and non-promoter allottees on a preferential basis, subject to shareholder approval at an EGM on 26 November 2026. The board also approved increasing authorised capital to Rs50 crore and a 1:1 bonus issue on existing shares and on shares arising from warrant conversion. It changed the vendor for part of its IPO-funded plant and machinery from Buhler India to Monu Engineering, stating cost, specifications, IPO objects and timeline were unchanged. The company reported total operating income of about Rs769 crore in FY26 with PBILDT of Rs31.58 crore, and gearing improved to 0.34 times after its Rs85 crore November 2025 IPO. Working-capital limits of Rs20 crore were about 93% utilised to June 2026 with the operating cycle stretched to 44 days. Spices accounted for 86-95% of revenue, with the business 100% business-to-business and concentrated in Gujarat.

Powered by Tijori