M R Maniveni Foods IPO

Incorporated in 2010, M R Maniveni Foods has more than 15 years' experience in the food industry, focusing on pulse milling and processing as well as trading of processed pulses. Its operations mainly follow a B2B approach with processed pulses sold via large retailers, wholesalers, and eCommerce sites. The breakdown of revenue for 9MFY26 includes supermarket sales at 44.9%, eCommerce platforms at 8.6%, and others formed 46.4%.

There are currently two milling plants that are dedicated for operation by the company. These two plants are both situated in Chennai. The installed capacity of the company is 29,400 MT per year. The actual production for FY25 was 19,272 MT, which increased from 13,939 MT in FY23, with overall capacity utilisation improved from 47.4% in FY23 to 65.5% in FY25.

The contribution made by manufacturing stood at 97.8% as of December 2025, out of which urad dal contributed 85.5% and toor dal 12.2%, while trading contributed 2.1%. The contribution of urad dal and toor dal together was almost 99.9% in FY25. Geographically, Tamil Nadu accounted for 58.3% towards revenues in FY25, Karnataka contributed 23.9% and Kerala 7.1%. The company has been able to expand into regions such as Madhya Pradesh, Maharashtra, Gujarat and Telangana.