Dindigul Farm Product Ltd IPO

Dindigul Farm Product Limited was originally incorporated as Dindigul Farm Product Private Limited as a private limited company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated September 29, 2010 issued by Registrar of Companies, Coimbatore. Further the company was converted from private limited company to public limited company pursuant to special resolution passed by its shareholders in the Extra-Ordinary General Meeting held on December 01, 2023 and consequently, the name of the company was changed from Dindigul Farm Product Private Limited to Dindigul Farm Product Limited and fresh certificate of incorporation dated December 27, 2023 was issued to the company by the Registrar of Companies, Coimbatore. The Corporate Identification Number of the company is U15200TZ2010PLC016407.

The Dairy sector in India has grown substantially over the years. As a result of prudent policy interventions, India ranks first among the world's milk producing nations, achieving an annual production of 221.06 million tonnes during the year 2021-22 as compared to 209.96 million tonnes during 2020-21 recording a growth rate of 5.29%. FAO Food Outlook (November 2022) reported 1.34% increase in world milk production from 912.6 million tonnes in 2020 to 924.8 million tonnes in 2021 (estimates). This represents a sustained growth in the availability of milk and milk products for the growing population. Dairying has become an important secondary source of income for millions of rural families and has assumed the most important role in providing employment and income generating opportunities particularly for women and marginal farmers. The per capita availability of milk has reached a level of 444 grams per day during the year 2021-22 which is more than the world average of around 320 grams per day in 2021 (estimates) (Food Outlook Nov'22). Most of the milk in the country is produced by small, marginal farmers and landless labourers. India, about 46% of the milk produced is either consumed at the producer level or sold to nonproducers in the rural area, he balance 54% of the milk is available for sale to organised and unorganised players. Organised sector comprise of Government, Producers' Owned Institutions (Milk Cooperatives & Producer Companies) and Private players which provides fair and transparent system of milk collection round the year at the village level. Unorganized/ informal sector involves local milkman, dudhias, contractors etc. and they are mostly found to be opportunistic, as there is no uniformity of milk price paid to producers and it varies depending upon the situation. Possibility of adulteration of milk is higher among these unorganized groups. In the areas where competition is high and presence of formal sector is strong, they generally give higher prices and at the same time, they don't offer remunerative prices to the producers where organized sector is not present.

Established in 2010, the company is primarily engaged in processing of whole milk and skimmed milk to make dairy ingredients including, milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream and butter and fat filled powders for infant milk formula. Its processing facility is situated at Dindigul and is spread over 15 acres. Its management system has been assessed and determined to comply with the requirements of FSSC 22000. The Company is also follow and comply with requirements of various relevant authorities in its industry such as FSSAI, Halal, Kosher, Export Import Council of India, Europe Regulations in respect of certain of its products. The Company has also obtained registration cum membership certificate from APEDA.