Vivaa Tradecom Limited is an Ahmedabad-based enterprise that has evolved from a specialized textile trader into a diversified industrial trading house. Listed on the **BSE SME Platform**, the company leverages a robust sourcing network in India to serve global garment brands while aggressively expanding into building materials, chemicals, and healthcare sectors. --- ### **I. Corporate Evolution and Capital Structure** Originally incorporated in **2010** as **Anantnath Infracon Private Limited**, the company underwent a series of structural transformations to align with its expanding commercial ambitions. | Date | Milestone | | :--- | :--- | | **April 23, 2010** | Incorporated as a Private Limited Company. | | **September 6, 2012** | Renamed to **Vivaa Tradecom Private Limited**. | | **December 2, 2022** | Converted into a **Public Limited Company**. | | **October 12, 2023** | Listed on the **BSE SME Platform** following a successful IPO. | **IPO and Listing Details:** The company’s IPO involved the issuance of **15,66,000 Equity Shares** at a face value of **Rs. 10/-**. The shares were issued at **Rs. 51/-** (including a **premium of Rs. 41/-**), raising a total of **Rs. 7.99 crore**. As of the latest filings, the paid-up capital stands at **Rs. 3,93,75,000/-**. --- ### **II. Core Business Segments & Product Portfolio** While the company is diversifying, its primary revenue engine remains the textile value chain, where it operates as a high-touch intermediary between production units and global retailers. #### **1. Denim & Readymade Garments** * **Specialization:** Distinguished supplier of **Men’s Denim Cotton Jeans**. * **Market Reach:** Supplies major retailers across the **Middle East, Far East, and Asia**. * **Value Add:** Offers a wide spectrum of colors and styles tailored to international fashion trends. #### **2. Fabric Trading & Processing** * **Cotton Denim Fabric:** Sourced through partnerships with specialized weaving and finishing units. * **100% Polyester Woven Grey Fabric:** Procured for industrial applications, dyeing, and printing. * **Micro Printed Fabric:** Intricately designed textiles for the apparel and accessories market. * **Processing Capabilities:** Engagement in **dyeing, printing, mercerizing, and texturizing** for both natural and manmade fibers (Cotton, Silk, Polyester, Nylon, Jute). #### **3. Building Materials & Industrial Trading** * **Laminated Sheets:** Trading of decorative and industrial laminates, including **PVC leather cloth and acrylic sheets**. * **Strategic Partnership:** A landmark agreement with **Rushil Decor Limited** (present in 56 countries) to distribute **VIR MDF Boards** and **Prelam MDF Boards** across multiple Indian states. * **Ceramics & Sanitaryware:** Trade in **Ceramic, Vitrified, and Glazed tiles**, as well as bathware and refractories for steel plants. --- ### **III. Strategic Diversification & Expanded Objects** The company has formally amended its **Memorandum of Association (MOA)** to authorize operations across several high-growth verticals beyond textiles: * **Chemicals & Agriculture:** Manufacturing and trading of **solid, liquid, and bio-fertilizers**, micronutrients, and crop protection chemicals (insecticides, fungicides). * **Healthcare & Pharma:** Production and distribution of **pharmaceuticals, antibiotics, vaccines, and nutraceuticals**, acting as C&F agents and stockists. * **Packaging:** Trading in containers made of **aluminum, plastic, and corrugated paper**. * **Agro-Industrial:** Processing of **enzyme products** and cattle feed. --- ### **IV. Operational Model & Supply Chain Strategy** Vivaa Tradecom utilizes a "direct involvement" model to ensure quality control without the heavy overhead of full-scale manufacturing ownership. * **Sourcing Excellence:** Centered in **Ahmedabad**, the company leverages local proximity to high-grade fiber and yarn producers. * **Collaborative Manufacturing:** Works with specialized third-party units for weaving, finishing, and printing, acting as a **job worker and export house**. * **Key Principles:** The model prioritizes **cash conversion**, supply chain resilience, and increasing the **value-added segment** of the product basket. --- ### **V. Financial Performance & Growth Metrics** The company has demonstrated a consistent upward trajectory in both revenue and net profitability over the last three fiscal years. | Particulars (Rs. in Lakhs) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :--- | :--- | :--- | | **Total Income** | **28,751.29** | **19,847.15** | **13,402.82** | | **Total Expenses** | **28,638.50** | **19,752.68** | **13,361.14** | | **Net Profit** | **76.02** | **70.09** | **30.03** | **Key Financial Observations:** * **Revenue Growth:** Total income surged by approximately **45%** in FY25 compared to FY24. * **Profitability:** Net profit has increased by **153%** since FY23. * **Capital Raising (Sept 2024):** Approved a preferential issue of **20,00,000 Equity Shares** at **Rs. 45** per share, raising **Rs. 9 Crore**. * **Liquidity Management:** Authorized borrowing and investment limits have been set at **Rs. 50 Crore** each to support working capital and strategic expansion. --- ### **VI. Risk Profile & Mitigation Framework** The company operates under an integrated risk management framework, though certain operational and legal challenges persist. #### **1. Operational & Compliance Risks** * **Insurance Gaps:** A recurring **Key Audit Matter** indicates that insurance coverage for **stock, cash, and plant & machinery** was deemed inadequate in FY24 and FY25. * **Market Volatility:** Exposure to **fluctuating cotton prices** and **foreign exchange rates** impacting import costs. * **Sector Headwinds:** Anticipated moderation in demand for home textiles in export markets. #### **2. Legal & Contingent Liabilities** The company is currently contesting historical tax assessments. While it remains regular in depositing undisputed dues, the following are pending: | Nature of Dues | Amount Disputed | Period (FY) | Status / Authority | | :--- | :--- | :--- | :--- | | **Income Tax** | **₹521.15 Lacs** | 2015-16 | Pending before **ITAT** | | **VAT / CST** | **₹43.70 Lacs** | 2015-16 | Pending before **Appellate Tribunal** | #### **3. Governance Highlights** * **Debt Integrity:** The company has **not defaulted** on any loans or interest payments. * **Promoter Support:** Recent capital raises are earmarked for the **repayment of unsecured loans** from the Promoter, **Mr. Miteshbhai Jayantilal Adani**. * **Transparency:** No unrecorded transactions or dealings with "struck-off" companies have been identified. --- ### **VII. Future Outlook** Vivaa Tradecom is positioning itself to capitalize on **100% FDI** in the textile sector and various Indian government export promotion policies. By realigning its customer base and diversifying into the **MDF board and building materials** market via the **Rushil Decor** partnership, the company aims to mitigate the cyclicality of the textile industry and drive long-term shareholder value.