Pix Transmissions Ltd. Share Price

Pursuant to Regulation 30 and 47 of the SEBI Listing Regulations, 2015, PIX Transmissions has informed that it enclosed the copy of newspaper publication of Unaudited Financial Results for the quarter ended June 30, 2026, published in the newspaper(s) Indian Express (English Daily) and Loksatta (Marathi Daily) on 09/08/2026. The said publication is also available on the Company’s website at https://www.pixtrans.com.

The above information is a part of company’s filings submitted to BSE.  

Dhanwel Hybrid Seeds

• Dhanwel Hybrid Seeds is coming out with an initial public offering (IPO) of 27,00,000 shares in a price band of Rs 95-99 per equity share.
• The issue will open for subscription on August 19, 2026 and will close on August 21, 2026.
• The shares will be listed on SME Platform of BSE.
• The face value of the share is Rs 10 and is priced 9.50 times of its face value on the lower side and 9.90 times on the higher side.
• Book running lead manager to the issue is Wealth Mine Networks.
• Compliance officer for the issue is Parul Agarwal.

Profile of the company

Dhanwel Hybrid Seeds is engaged in the business of seed manufacturing, which includes the development, multiplication, processing, and supply of seeds for a variety of field crops and vegetables. The seed production process is carried out in a structured manner across multiple stages and involves the use of improved genetic seed material procured from recognised sources. Such seed material is multiplied, processed, conditioned, and handled in accordance with prescribed agronomic and processing practices to produce seeds suitable for agricultural use, including seeds supplied to farmers for crop cultivation.

The company procures genetic seed material, including breeder and other suitable seed material, from recognised agricultural institutions, government-supported research organizations and open market. In addition, seed production is undertaken through arrangements with identified seed-growing farmers, wherein agricultural land owned by such farmers is utilised for cultivation. Under these arrangements, the company supplies the requisite seed material and provides technical guidelines and cultivation protocols. The farmers carry out sowing and related agricultural operations in accordance with the company’s instructions, while the company’s field staff and agronomists monitor and supervise the crop to maintain quality standards. Although the ownership of agricultural land remains with the farmers, seed production undertaken through contractual arrangements is carried out in accordance with the company’s prescribed guidelines and supervision, and all subsequent processing, quality control, and commercial activities relating to such seeds are undertaken by the company.

The company presently works with a limited number of contract seed-growing farmers under formal arrangements. However, the company is not dependent exclusively on such contract farmers for seed availability. In cases of operational requirements, crop-specific demand, or supply constraints, the company also procures seeds directly from farmers and the open market. Such procured seeds are thereafter subjected to sorting, cleaning, grading, processing, quality checks, labelling, and packing at the company’s processing facility before being sold in the market.

Proceed is being used for:

• Funding towards repayment or prepayment, in full or in part, of borrowings availed by the company from banks and financial institutions
• Funding the working capital requirements of the company
• General corporate purposes

Industry overview

Agriculture is one of the cornerstones of India’s economy and society, providing a livelihood to nearly 55% of the population. With the world’s second-largest agricultural land area, India is a global leader in farm output. India’s agricultural output has expanded significantly in the past decade, recording 40% growth and achieving surplus capacity for exports. In FY25, the sector grew by 5.4% year-on-year, supported by record production and higher trade volumes. Agricultural exports touched an all-time high of Rs. 4,40,000 crore ($ 51.86 billion) in FY25, up from Rs. 3,95,793 crore ($48.15 billion) in FY24. Agriculture and allied activities together contributed 17.8% to India’s GDP in 2023-24, reaffirming the sector’s importance to the national economy.

India’s agriculture sector is poised for sustained growth, supported by rising exports, greater investments, and targeted policy interventions. Agriculture and fisheries exports grew from Rs 2,49,264 crore ($35.16 billion) in FY20 to Rs. 4,33,819 crore ($51.23 billion) in FY25, registering a CAGR of 7.82%. Tamil Nadu has set an ambitious target of Rs 42,745 crore ($5 billion) in seafood exports by strengthening coastal infrastructure and promoting value addition, while India as a whole aim to achieve Rs 8,549 crore ($1 billion) turmeric exports by 2030 through the National Turmeric Board and the SPICED scheme, retaining its dominant 58-66% global market share.

The current India seed market size stands at $3.82 billion in 2025 and is projected to reach $5.00 billion by 2030, reflecting a forecast CAGR of 5.55%. Sustained policy support, rising certified‐seed penetration, and expanding climate‐ smart varieties continue to anchor industry resilience. Government programs such as the National Mission on High-Yielding Seeds and the Clean Plant Program are fast-tracking premium seed adoption by funding disease-free planting material hubs, demonstration plots, and village-level clusters. Row crops dominate revenue because cereals, oilseeds, and fiber crops align with food-security and import-substitution priorities, while hybrids retain farmer loyalty thanks to consistent yield premiums under erratic rainfall. Meanwhile, protected cultivation and digital traceability pilots are opening lucrative niches for specialized vegetable and high-value seed segments. Competitive intensity is low because multinational pipelines compete with regionally adapted portfolios, yet counterfeit trade and GM regulatory uncertainty exert margin pressure.

Pros and strengths

Wide range of seeds and variants: The company offers a range of seeds across multiple field crops and vegetables, including groundnut, soybean, sesame, wheat, gram, cumin, fodder, bajri, onion, coriander, and among others. The product range is offered in line with market demand and operational requirements and is supplied in the ordinary course of business. The company may, from time to time, consider addition of new seed varieties or crops based on business requirements and availability.

Quality assurance: The company places importance on maintaining quality standards across its operations. The company is ISO 9001:2015 certified for manufacturing, processing, and supply of seeds. Quality considerations form part of routine business activities across sourcing, processing, and packing. Where considered appropriate, seeds are tested through government laboratories and other approved agencies.

Customer satisfaction: The company considers customer satisfaction to be an important aspect of its business operations. The company supplies its products to customers in the ordinary course of business and seeks to meet customer requirements through consistent product standards and routine commercial engagement. Ongoing business interactions and repeat transactions form part of normal business operations and support continuity of customer relationships.

Risks and concerns

Significant revenue dependence on Oil Seeds: The sale of Oil seeds is the largest contributor towards its total revenue, and contributed 56.67%, 55.41% and 65.39% to its revenue from operations in Fiscal 2026, Fiscal 2025 and Fiscal 2024 respectively. As a result, its business is exposed to risks related to product concentration. Its inability to produce sufficient quantities of its existing products in a timely manner or at all, its failure to develop new products that meet the evolving demands of its end consumers or to obtain the regulatory approvals for such products, the development of successful products by its competitors and general economic conditions. It cannot assure that the performance of its oil seeds will continue to meet its customers’ expectations. In addition, its business, financial condition, results of operations and prospects could be materially and adversely affected if one or more of these uncertainties or disruptions occur.

Reliance on limited number of suppliers may disrupt raw material supply: The substantial portion of its purchases has been dependent upon few suppliers. For instance, its top ten suppliers accounted for 58.55%, 24.61%, and 13.63% of its total purchase for the Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. It has not entered into long term agreements with its suppliers and the success of its business is accordingly significantly dependent on it maintaining good relationships with them for regular supply of its raw material. The inability of a supplier to meet these requirements, the loss of a significant supplier, or any labour issues or work stoppages at a significant supplier could disrupt the supply of raw materials and parts to its facilities, preventing the company from delivering to its customers, or cause returns of products.

Agricultural seasonality and weather conditions may adversely affect demand and financial performance: Its operations are closely aligned with agricultural cycles and are seasonal in nature. The demand for its seed products is largely dependent on monsoon patterns, timing and quantum of rainfall, sowing seasons, cropping patterns and farmers’ sowing decisions. Any delay, deficiency or excessin rainfall, or occurrence of unfavourable weather conditions, pest attacks or other natural factors, may adversely affect agricultural activity and reduce demand for its products. As a result of the seasonal nature of its business, a substantial portion of its revenues is generated during specific periods of the year, and its sales volumes and operating results may fluctuate significantly from quarter to quarter and year to year. Adverse climatic conditions during peak sowing seasons may have a material adverse effect on its business, financial condition, results of operations and cash flows.

Outlook

The company is engaged in the business of seed manufacturing, which includes the development, multiplication, processing, and supply of seeds for a variety of field crops and vegetables. The company procures genetic seed material, including breeder and other suitable seed material, from recognised agricultural institutions, government-supported research organizations and open market. On the concern side, the substantial portion of its revenues has been dependent upon few customers. For instance, its top ten customers accounted for 64.27%, 22.23% and 17.26% of its revenue from operations for the Fiscal 2026, Fiscal 2025 and Fiscal 2024, respectively. The loss of any one or more of its major customers would have a material adverse effect on its business, cash flows, results of operations and financial condition.

The company is coming out with a maiden IPO of 27,00,000 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 95-99 per equity share. The aggregate size of the offer is around Rs 25.65 crore to Rs 26.73 crore based on lower and upper price band respectively. On performance front, the company’s revenue from operations increased from Rs 4,412.94 lakh in FY 2024-25 to Rs 7,458.69 lakh in FY 2025-26, reflecting a growth of 69.02%. Profit after tax increased from Rs 215.74 lakh in FY 2024-25 to Rs 611.54 lakh in FY 2025-26, reflecting a growth of 183.46%.

Meanwhile, the company seeks to strengthen its presence in existing markets while gradually expanding its reach to additional geographies, based on market opportunities and demand conditions. It intends to cater to the requirements of its existing customers and, where feasible, broaden its customer base through increased distribution reach. Its focus remains on maintaining long-term relationships with dealers, distributors, and farmers through consistent business engagement and reliable supply of products. Additionally, the company markets its products under the brand name ‘Dhanwel’. It intends to continue efforts aimed at enhancing brand visibility and recognition in existing and potential markets.