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Issue Date:23 October 2017     Price in Rs. R 6500    Price in USD. $ 100

Bangalore based Indian Products Pvt Ltd or IPPL ( is into trading and export of agro commodities.  It is into sourcing and supply of Spices, Decaffeinated Tea and Natural Caffeine. It has also entered into spices like ginger, pepper, turmeric, and chillies in the recent past. It launched its own brand “ON1Y” in 2013; it uses a range of innovative, ready-to-use blends and packaging styles.


IPPL operates two manufacturing units in the Coimbatore district (Kinathukadavu and Trade Centre) of Tamil Nadu and one at Walayar, Kerala.


The company traces its history to 1940s, when a tea trading business was started in Kolkata by Jayantilal Shah.  The company itself was incorporated in May’80. It has 5 directors - Milan A Shah (managing director), Varsha A Shah, Komal A Shah, Mahendra MShah, Bharti C Shah.


Its credit ratings were downgraded to ‘D’ in August 2017 by rating agency ICRA, indicating a default. However, the issue appears to be short term, the same ICRA note says ‘IPPL does not have any overdues as on date, as confirmed by the company and bankers’.


During FY16, Indian Products reported revenues of Rs 4B (USD 63m) and an EBITDA of Rs 200m (USD 3.1m).

  • Company Background
  • Business Highlights
  • Financial Performance
  • Financial Details


  • Board of Directors
  • Financial Summary
  • Profit & Loss Account
  • Balance Sheet
  • Ratios


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