Cropster Agro is an Indian trading house that was born from a corporate shell. For decades it existed as Planter’s Polysacks, a packaging company that had stopped doing business altogether, until a complete reset in 2023 gave it a new name, a new registered office in Gujarat, and a single purpose: buying and selling agricultural commodities. The recurring approach is straightforward - it sources edible oils, seeds, grains and spices, holds them as stock-in-trade, and resells them, operating in a world where the monsoon decides supply and price competition is fierce. # Business segments A single engine - agricultural commodity trading with a small manufacturing sideline - rebuilt from a dormant entity and now competing in a crowded, weather-dependent market. ## 1. Agro-commodity trading: buying and selling the harvest **The company makes its money by purchasing agricultural goods in bulk and reselling them - it is a merchant, not a farmer, and its inventory is its business.** - **Two revenue streams, one core activity** - revenue comes from Trading Sales and Manufacturing Sales, but both are sides of the same coin: in FY24, trading sales covered refined edible oils like RBD Palmolein and Sunflower Refined Oil, while manufacturing sales meant processing agricultural seeds into products for sale. - **Inventory is the engine** - the company holds stock-in-trade (goods bought for resale), which stood at roughly ₹773 lakhs as of March 2024, all of it agricultural products waiting to be sold onward. - **Customers pay later, and the company carries that risk** - trade receivables were about ₹3,167 lakhs at the end of FY24, all unsecured and due within six months, meaning the company effectively finances its buyers for half a year. - **A tractor and some equipment, not a farm** - the company owns a tractor and farming equipment worth a few lakhs on its books, but these are tools; the business itself is built on procurement and distribution, not cultivation. - **No foreign exchange exposure yet** - in FY24 the company had zero foreign exchange earnings or outgoings, so its trading universe is entirely domestic for now. # Group structure and partners **The company stands alone - no parent, no subsidiary, no promoter group - and is held entirely by public shareholders, with one entity quietly building a stake.** - **No corporate family tree** - from FY20 through FY25, Cropster Agro has had no holding company, no subsidiary, no associate and no joint venture; it is a standalone listed entity. - **No promoters, only public shareholders** - all shares are held by the public, a rare structure for an Indian listed company, and one non-promoter entity, Nilratan Suppliers Private Limited, crossed the 5% voting-capital threshold in December 2025 after buying shares on the open market. - **Warrants brought in working capital** - the company raised roughly ₹15 crore through a preferential issue of convertible warrants in early 2023, and the funds were channelled straight into working capital to fuel the new trading business. - **Borrowing headroom is being built** - the board has sought shareholder approval to borrow up to ₹500 crore and to extend loans or guarantees of the same amount to entities where directors have an interest, signalling an appetite for scale that the current balance sheet does not yet reflect.