Growington Ventures India is a fresh-fruit importer that was born from a travel company’s near-death experience during COVID-19 - when holiday bookings vanished, the promoters rewrote the company’s charter, changed its name, and pivoted entirely to sourcing premium fruit from farms across Turkey, Vietnam, Thailand, South Africa, Greece and Chile for sale in India. The recurring approach is simple: buy fruit from growers or other importers, move it through a network of agents and its own cold-storage warehouse, and sell it to wholesalers, hospitality firms and e-commerce players at a margin - a pure trading model with no manufacturing. # Business segments Two engines at different stages - a fresh-fruit trading business that is the company’s entire operating identity, and a Dubai subsidiary that extends the same sourcing playbook into the Middle East. ## 1. Fresh-fruit import and trading: the company’s sole operating engine **It buys premium fruit from farms and importers, moves it through a cold chain, and sells it to Indian wholesale and institutional buyers - earning the spread between purchase cost and sale price.** - **Direct farm sourcing, not just dock buying** - the company has tie-ups with growers in Turkey, Vietnam, Thailand, South Africa, Greece and Chile, and employs a procurement team inside and outside India to secure fruit at origin rather than relying solely on third-party importers. - **A portfolio built for urban demand** - it trades more than 20 fruit varieties, from apples and pears to dragon fruit, kiwifruit, cherries and avocados, which are exactly the exotic and premium categories experiencing rising popularity in urban India as health awareness and disposable incomes grow. - **Agent network as distribution backbone** - rather than owning a nationwide fleet, the company enters into fixed-term agency agreements that give it coverage across India, the subcontinent, South Africa, Turkey, the Gulf, Southeast Asia and the Far East, which it calls “worldwide coverage in a cost-effective manner”. - **Cold storage is the physical moat** - it maintains a warehouse with cold storage at TTC MIDC, Khairane, near Mumbai, and has plans for a leased cold-storage facility and a fruit-processing and packaging unit nearin MIDC, Navi Mumbai, because the highly perishable nature of fruit - dragon fruit is singled out - makes temperature-controlled handling non-negotiable. - **Customer concentration is rising but managed** - four customers each contributed more than 10% of revenue in FY26, up from two the year before, yet the company states no single external customer is indispensable, and it aims to become a supply-chain partner to names like Reliance, Big Basket and Godrej. ## 2. Elementures Foodstuff Trading: a Dubai sourcing outpost **A wholly owned subsidiary in the UAE that buys fruit from the same farm belts and supplies Gulf wholesalers, hotels and retail chains - extending the parent’s trading model into a new geography.** - **Incorporated to shorten the supply chain** - set up in October 2023 with 100% holding, the Dubai entity trades foodstuffs including dates, spices, dried fruits and vegetables, and sources fresh fruit directly from Turkey, Vietnam and South Africa, which are already key origins for the parent. - **Tied into Vietnamese supply** - it has a standing arrangement with a Vietnam-based agri-commodity company for regular supply of dragon fruit, coconut, guava, lime and other products from early 2024, giving it predictable access to high-demand tropical fruit. - **Local Gulf distribution already lined up** - the subsidiary has arrangements with UAE wholesalers to supply hotels, restaurants and chain retail stores, so it is not just a procurement shell but a trading entity with its own customer relationships. - **Managed by the promoter** - Vikram Bajaj has overseen the subsidiary since registration, which keeps strategic control of the Dubai operation inside the founding group. # Group structure and partners **A listed Indian trading company with a Dubai subsidiary, a chartered-accountant promoter, and a consolidated history of absorbing six group entities into one.** - The company is listed on the BSE Main Board, having migrated from the SME platform, with a paid-up equity share capital of about ₹64.2 crore after a rights issue of over 48 crore shares in FY26. - The company has no associate companies or joint ventures; its consolidated financial statements include only the Dubai subsidiary. - Bankers are ICICI Bank (APMC Masala Market branch, Vashi) and Indian Bank (Nerul East, Navi Mumbai), with Kotak Mahindra Bank also appearing in earlier periods.