Phoenix Overseas Limited - IPO

Incorporated in December 2002, Phoenix Overseas Limited trades and markets animal feeds, agricultural produce, and commodities, including corn, oil cakes, spices like dry red chillies, coriander, cumin seeds, food grains, tea, pulses, soya bean meal, and rice bran de-oiled cake. Phoenix Overseas Limited is a B2B trading company primarily specialising in corn/maize and oil cakes.

The company is involved in the manufacturing of bags for men and women made of jute, cotton, canvas, and leather, as well as various other fashion accessories. Their clients are based in European countries like France, Italy, Germany, the UAE, and also in Australia. The company's manufacturing facility is located in Sodhpur, Kolkata. Additionally, the company manufactures purses, wallets, as well as other shopping and fashion bags for its clients.

Competitive Strength

• The company's strong presence in agro commodities trading allows it to switch between exports and imports based on changes in demand or pricing for any commodity during any season.
• The company's clients are nationwide and international and have been long-term partners.

As of September 2024, the company had 29 employees and 3 contractual employees, including its directors, responsible for various business functions.

1. Experienced management team with proven project management and implementation skills.

2. Strong presence in agro commodities trading segment.

3. Long term relationship with clients and repeat business.

1. Major exports of the Company are to Bangladesh and this expose it to higher degree of risk with constantly changing economic, regulatory and social conditions. Any change in political or economic conditions in Bangladesh can adversely affect its business, financial condition and results of operations.

2. The company depends on a few customers of its products, for a significant portion of the company revenue, and any decrease in revenues or sales from any one of its key customers may adversely affect the company business and results of operations.

3. In the past, there have been instances of delays in filings of certain forms which were required to be filed as per the reporting requirements under the Companies Act, 1956 and Companies Act, 2013 to RoC.

4. In the past, there have been instances of delays in filings of certain returns which were required to be filed as per the reporting requirements under the Goods & Service Act, 2017 and Income Tax Act, 1961.

5. The company majority of the revenue comes from the Merchant export division and disruption in the export division may adversely affect its business and the results of operations.

6. The company depends on a few suppliers of its products, for a significant portion of the company supplies and purchase, and any decrease in supply from any one of its key vendors may adversely affect the company's business and results of operations.

7. Failures of the Potato Crop in West Bengal State and more specifically in and around Malda District would severely affect its ability to generate revenues and hence adversely affect the company results of operations and financial conditions.

8. Expansion into new business activities through setting up new subsidiaries of the company.

9. The export / import of certain agricultural produce and commodities is subject to seasonal factors Consequently, its inability to accurately forecast demand for the company products, may have an adverse effect on its business, results of operations, cash flows and financial condition.

10. The company benefit from certain export benefits from the Government of India, which if withdrawn or modified may have a significant impact on its results operations.