Shivchem Agro IPO

Shivchem Agro was incorporated in September 2021. It manufactures, stocks, distributes and sells agricultural formulations in solid and liquid forms. Its portfolio comprises insecticides, fungicides, herbicides, plant growth regulators, rodenticides and fertilizers.

The company supplies these crop-protection products through a distributor-led model. The company operates one 22,680 sq. ft. manufacturing facility at Barhana, Jhajjar, Haryana, with an effluent treatment plant and wet scrubber, and five godowns supporting distribution. It holds licences for 176 agrochemical products and authorisation for 82 fertilisers, and is licensed to sell, stock, exhibit and distribute products in eight states. Revenue is entirely domestic and the company has no presence or revenue outside India. It also sources raw materials only from domestic suppliers.

In FY26, herbicides contributed 43.5% of revenue from operations, insecticides 30.3%, fungicides 15.8%, plant growth regulators 8.1%, fertilizers 2.1% and rodenticides 0.1%. From FY24 to FY26, the herbicide share rose from 34.1% to 43.5%, fungicides from 6.8% to 15.8%.

Andhra Pradesh contributed 33.9% of FY26 revenue, Assam (20.8%), Haryana (19.7%), Telangana (16.4%), Odisha (8.6%) and Bihar (0.3%). The distributor network expanded from 185 in FY24 to 685 in FY26. Total production volume capacity increased to 65,07,500 kg/litre in FY25 and remained unchanged in FY26.The company’s employee base increased from 40 in FY24 to 66 in FY26, while its sales team expanded from 17 to 39.