TGIF Agribusiness Ltd - Stock Valuation and Financial Performance

TGIF Agribusiness Limited was originally formed as a partnership firm in the name and style of ‘Aarvee Farm Products’ pursuant to a deed of partnership dated February 28, 2014, registered as on March 06, 2014 vide Registration certificate issued by Registrar of Firms, Ahmedabad City, Ahmedabad under the provisions of the Indian Partnership Act, 1932. Subsequently, its partnership firm was converted into the Limited Liability Partnership pursuant to a certificate of registration of conversion of Aarvee Farm Products to ARV Farmpro LLP dated April 23, 2019 issued by the Ministry of Corporate Affairs, Central Registration Centre vide LLP Identification Number AAP-0011. Further, name of its LLP was changed from ‘ARV Farmpro LLP’ to ‘TGIF Agribusiness LLP’ and a fresh Certificate pursuant to name change was issued by the Ministry of Corporate Affairs, Central Registration Centre dated April 27, 2023. Consequently, the Company was converted from LLP to Public Company ‘TGIF Agribusiness LLP’ to ‘TGIF Agribusiness Limited’ vide a fresh certificate of incorporation consequent upon conversion dated December 27, 2023 issued by the Ministry of Corporate Affairs, Central Registration Centre.

The company is primarily a horticulture company engaged in open farming of certain fruits and vegetables. The company is mainly engaged in the farming of pomegranate which contributes to more than 95% of its revenue from operations. Apart from the farming of pomegranate it is also engaged in the farming and cultivation of dragon fruits and Sagwan trees. It follows different farming practices so as to produce quality fruits such as fruit thinning, wherein some portion of fruit crop from the tree is removed before its maturity, in order to improve the general size and quality of the remaining crop, leaf vegetative growth practice to reduce tolerance level of external appearance, protecting fruit with protection material, measuring soil moisture to determine the water application. Under its farming model, wherein it generally employ farmers and workers in the vicinity of its farms. 

It also engages its selves in to supervision of farmers and croppers to constantly monitor the quantity and quality of crops. With the growing consumer knowledge, interest, and purchasing power the demand for the fruits have also increased. This, in turn, played an important role in increasing its product demand in the market. It maintains adherence to quality and safety standards including plant quality, product quality, use of plant nutrients, fertilizers, pesticides to safeguard the plants and produce etc. This steps ensures the fulfilment of food safety and quality control and helps it in increasing the farm produce. It uses drip irrigation systems for each of its farms to ensure proper irrigation of the farms and also minimise time spent on irrigation activity. The post-harvest facility has been designed to avoid contamination and to maintain food hygiene in the process. The products are packed as per individual client requirement and delivered to the customers.

It currently sells majority of its products to retailers, wholesalers, retail chain stores, hypermarkets and mandis. Under the B2B model all these customers visit the farms for evaluating the farm and the produce and based on price negotiations prices are finalized with the customers. It also have plans to sell its produce through its B2C model under the name of Direct2home service, where the local customers can place the order and the products will be picked, packed from the farm and delivered to the customer home directly.

Business area of the company 

The company is primarily a horticulture company engaged in open farming of certain fruits and vegetables. The company is mainly engaged in the farming of pomegranate. Apart from the farming of pomegranate it is also engaged in the farming and cultivation of dragon fruits and Sagwan trees.

Products of the company

• Pomegranate 
• Dragon fruit 
• Sagwan
• Other seasonal vegetables & fruits like water melon, lemon & chilly

History and milestones

• 2014: Partnership Firm in the name and style of M/s. Aarvee Farm Products founded by Niraj Chhaganraj Gemawat and Rachana Niraj Gemawat with effect from February 28, 2014.
• 2014: Partnership firm was registered as on March 06, 2014.
• 2019: Incorporation of its LLP as ‘ARV Farmpro LLP’ pursuant to the Conversion of Partnership firm into the Limited Liability Partnership as per the provisions of the Limited Liability Partnership Act, 2008. 
• 2023: Change in the name of its LLP from ARV Farmpro LLP to TGIF Agribusiness LLP.
• 2023: Increase in the number of partners along with capital contribution. 
• 2023: Incorporation of Company pursuant to the conversion of LLP as ‘TGIF Agribusiness LLP’ into Public Limited Company as TGIF Agribusiness Limited.