Pajson Agro India Ltd (544657) Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating

Pajson Agro India was originally incorporated under the name ‘Pajson Agro India Private Limited’ on September 17, 2021. Subsequently the status of the company was changed to public limited and the name of the company was changed to ‘Pajson Agro India Limited’ vide Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting of the company held on December 24, 2024.

It is into processing of raw cashew nuts into cashew kernels and supplies to domestic and international markets. Its product portfolio primarily comprises various grades of cashew nuts, which are processed and packaged in bulk as well as consumer-oriented retail packs. Additionally, its market selects dry fruits under its white-label brand ‘Royal Mewa’ through a combination of e-commerce platforms and offline distribution channels. In addition, the cashew husk and cashew nut shells which are the by-products after processing of Raw Cashews are also supplied which are utilized in agricultural and industrial applications, hence offering additional value from its processing operations.

It operates through a multi-channel sales and distribution structure comprising four key verticals: Wholesale Mandis, Institutional Sales, Exports, and the B2C brand, Royal Mewa. The wholesale mandi segment contributes significantly to domestic distribution. It is operational in many states and several Union Territories. It works with mandi traders who possess established networks and handle both whole and broken cashew grades.

Business area of the company

The company is engaged in processing of raw cashew nuts into cashew kernels and supplies to domestic and international markets. Its product portfolio primarily comprises various grades of cashew nuts, which are processed and packaged in bulk as well as consumer-oriented retail packs.

Products of the company

• Cashew Kernels: Available in various grades and sizes, meticulously processed to deliver superior taste and texture.
• Royal Mewa: Premium dry fruit brand offering a range of high-quality nuts and dry fruits sourced from the finest farms.
• Raw Cashew Nuts: Sourced directly from leading cashew-producing regions, ensuring the highest quality for further processing.
• Cashew Husk: Utilized in agricultural and industrial applications, offering additional value from its processing operations.
• Borma Cashew Kernels: Known for their qualities, these kernels are carefully selected and processed to meet specific market requirements.
• Cashew Nut Shells: Ideal for industrial applications and as a valuable by-product for various uses like in the production of foundry chemicals.

History, accreditations and milestones

• 2021-2022: Incorporated as Pajson Agro India Private Limited
• 2021-2022: Received an investment of Rs 1,959.93 lakh from Pulkit Jain, who brings a strong global supplier network and operational expertise.
• 2021-2022: Acquired the running processing unit located at Visakhapatnam from Olam Agro India Private Limited for a total consideration of Rs 1,825.00 lakh.
• 2023-2024: Invested Rs 550.72 lakh in plant and machineries (including Cashew Shelling Machine Line, Nano Sorter, Boiler, Cashew Cutting Machine and Cashew Peeling Machine to enhance processing capacity at the Visakhapatnam unit. This resulted in higher realization of whole cashews, reduced contamination, and improved profitability.
• 2023-2024: Halal certification from WRG Certifications for the scope of manufacturing, processing, and supplying cashew nuts
• 2024-2025: Certified under ISO 22000:2018 and HACCP for the scope of manufacturing food, dairy products, and general products, demonstrating its focus on food safety management systems.
• 2024-2025: Certified for ISO 9001:2015 certification for manufacturing, processing, and supplying cashew nuts, reflecting adherence to quality management principles.
• 2024-2025: Further invested Rs 653.88 lakh in additional plant and machineries including Cashew Color Sorter, Nano Sorter, Canveyor Machine, Fire Hydrant Machine, Cashew Peeling Machine and DG Sets and Transformer at the Visakhapatnam facility, further boosting capacity, quality, and profit margins.
• 2024-2025: Transitioned procurement strategy to source low-moisture raw cashew nuts through Pajson Global DMCC, leveraging its 11 years of robust supply chain infrastructure. This led to improved whole cashew realization and enhanced profitability.
• 2024-2025: Launched its B2C brand ‘Royal Mewa’.
• 2024-2025: Conversion from Private limited company to Public Limited company in the name and style of Pajson Agro India Limited.
• 2024-2025: Acquired 7,73,190.00 sq. ft. of land in Vizianagaram, Andhra Pradesh, for the development of its second processing unit.
• 2025-2026: Registered for ISO 14001:2015, covering the scope of manufacturing, processing, and supplying cashew nuts, emphasizing its commitment to environmental management standards.