Shyam Dhani Industries IPO

Shyam Dhani Industries is engaged in the manufacturing and processing of 164 varieties of ground, blended, and whole spices under its “SHYAM” brand, along with trading and distribution of grocery items such as salts, rice products, herbs, and seasonings. The company operates a manufacturing unit in Jaipur and is supported by multi-sales distribution across B2B and B2C markets. It provides services to clients in the B2B market through general and modern trade channels, quick commerce, hotels, restaurants, and catering (HoReCa), private label, and exports. It also keeps up a direct-to-consumer (D2C) presence via its website, offering clients a smooth online buying experience. Ground spices accounted for 60.73% of the company's revenue as of September 2025, followed by whole spices at 17.37%, grocery products at 14.15%, and blend spices at 7.75%.

Geographically, the company is still predominantly focused on Rajasthan but is slowly turning multi-state and export-oriented. Rajasthan derived 64.07% of revenues, followed by Punjab at 17.92%, while exports derived 2.24%, led completely by the UAE market. Across sales channels, modern trade accounted for 48.66%, followed closely by general trade at 47.05%, while quick commerce contributed 1.43%, while HoReCa, private label, and website sales were negligible.