Swadeshi Industries & Leasing is a publicly listed Indian company that has, in a single year, been rewired from a decades-old micro-cap cloth trader into an ambitious multi-business conglomerate. Incorporated in 1974 in Calcutta and for most of its life a two-person textile trading operation out of Bhiwandi, the company was acquired in early 2024 by a new promoter who used it as a ready listing platform to launch a rapid-fire series of industrial and consumer initiatives. The recurring approach is to build or plan multiple unrelated businesses - from metal manufacturing to grocery retail to industrial parks - simultaneously from a standing start, with no legacy assets and a tiny permanent team of five people. # Business segments Five engines at different stages - a non-ferrous metals manufacturing operation that is the first real departure from trading, a rural grocery chain with national food-park ambitions, planned apparel and textile manufacturing, a 100-park MSME infrastructure rollout, and a legacy trading shell that still generates the company’s reported revenue - each launched in quick succession under a new promoter with no prior operating history in most of these lines. ## 1. Non-ferrous metals: the first factory floor **For a company that never owned plant and machinery, setting up a copper, brass and aluminium manufacturing division is the foundational break from its trading past.** - **From zero machines to a metals plant** - until FY25, the company consistently reported having no plant and machinery and no manufacturing operations whatsoever; the non-ferrous metals division is the first physical production capability the company has ever built. - **Serves the building blocks of industry** - the division makes copper, brass and aluminium products that feed into electrical wiring, plumbing, electronics, industrial machinery, transportation and even antimicrobial medical applications, so its output touches construction, power and consumer goods all at once. - **A hired specialist runs the show** - the company appointed a dedicated CEO for the Copper Division, Mr. Naresh Poonam Chand Jain, to lead an operation in which the company itself has no institutional experience. - **Exposed to global metal swings** - the business faces threats from volatile London Metal Exchange copper prices, rising input costs, and a shortage of skilled underground mining contractors in India, meaning its input costs can move sharply against it. ## 2. Swadeshi retail grocery: a village-to-nation consumer play **A branded chain of grocery stores in rural and Tier-2/3 towns, backed by a plan to build 100 food parks that link farmers directly to retail shelves.** - **Stores where the customers are** - retail outlets under the “Swadeshi” banner are established in rural and semi-urban areas, aiming to connect villages to districts and the country rather than chasing crowded city markets. - **Own brands on the shelf** - the company markets food under the ‘Agrovia’ and ‘Swadeshi Aahar’ labels, which it describes as synonymous with trust and reliability, giving it control over both the storefront and the products inside it. - **A direct network, now going digital** - it operates a Direct Distribution Network spanning India and globally, and is digitising that network while layering on e-commerce channels and modern trade routes to widen product reach. - **The food park is the supply engine** - the company intends to manufacture over 160 non-preservative food products in a single Food Park and eventually install 100 such parks across India, creating a chain that brings together farmers, processors and retailers to minimise wastage and lift rural incomes. - **Acquisition was the planned entry door** - to get into food processing, the company planned to acquire Swadeshi Agrotech Industries Private Limited, and in August 2023 it moved to alter its constitutional documents to permit dealing in everything from rice and wheat flour to soya products and sugar. ## 3. Apparel and textiles: a planned return to roots, with new technology **The company that once only traded cloth now plans to manufacture affordable women’s and kids’ wear using waterless dyeing processes - but as of FY25, no machines existed.** - **From trader to manufacturer** - for decades the company’s sole activity was cloth trading out of Bhiwandi with no manufacturing capability; the new plan to produce affordable women’s and kids’ wear is a direct upgrade of its historical identity. - **Dyeing without water** - it is innovating with supercritical CO₂ dyeing, air dyeing and reverse micellar dyeing, processes that eliminate water from the colouring stage and address a resource-heavy pain point in the textile industry. - **Still on the drawing board** - as of FY25, the company reported it does not have any plant and machinery and no technology absorption activity was carried out, confirming these textile manufacturing initiatives had not yet left the planning stage. ## 4. MSME industrial parks: a 100-location infrastructure bet **A plan to develop small-industry parks at every zonal level in India, with the first site identified in Rajasthan and an international partnership signed to replicate the model in the Philippines.** - **An international partner signed** - in November 2025, the company entered a strategic partnership with Perlas Weil Flores International Trading Corporation of the Philippines to co-develop MSME Industrial Parks in the Philippines and other Asian nations, covering also agriculture, food processing, renewable energy, EV mobility and startup incubation. - **A director-level deal** - the agreement was signed by Dr. Nitin Sharma, a Director of the company, and the President & CEO of the Philippine partner, signalling board-level commitment to an offshore infrastructure rollout. # Group structure and partners **A standalone company with no subsidiaries and a freshly installed promoter who acquired control in 2024 through a share purchase and mandatory open offer.** - **No corporate web** - as of 31 March 2025, the company had no subsidiaries, joint ventures or associate companies, a structural feature that has held consistently across multiple years. - **A single-transaction change of control** - in February 2024, Mrs. Jayshree Radheshyam Sharma, proprietor of a fabric manufacturing firm, bought 28.48% of the equity from the two existing promoter entities at Rs. 2 per share for a total consideration of Rs. 61.62 lacs, triggering a mandatory open offer. - **Post-offer, a clear promoter** - after the open offer closed in July 2024, the acquirer held 34.97% of the fully diluted equity, the two selling shareholders exited completely and were reclassified as public shareholders with nil holdings, and the acquirer became the new promoter. - **A legacy partnership investment** - the company historically held an 80% share in a partnership firm called Park View Developers, carried at Rs. 142.26 lacs as of March 2022, with the remaining stakes held by four individual partners.