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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Credit Rating (CRISIL)
Crisil A/Stable/Crisil A1
Rates the company's debt-servicing ability — not the quality or value of its shares.
Rated: 27 Mar 2025
This rating is over a year old.
View Full ReportValuation
Financials (FY24)
Source: CRISILInvestment Thesis
A.V. Thomas Co. Limited is a Kerala-based investment and trading entity within the storied A.V. Thomas group, which has operated since 1935. At ₹700 per share, it offers a lower-cost entry into the A.V. Thomas group compared to the flagship at ₹26,000. However, limited public financial disclosures, potential corporate structure confusion with A.V. Thomas International Limited, and the illiquid unlisted market make this investment appropriate only for informed, long-term investors with strong due diligence capabilities.
Pros
Cons
Business Segments
Agro-Commodity Trading
Trading of tea, rubber, spices, cashew, and related agro-commodities predominantly sourced from Kerala plantations.
Investments
Strategic investments in group companies and financial assets, generating dividend and interest income.
Revenue Model
A.V. Thomas Co. Limited generates revenue through agro-commodity trading and investment income from its portfolio of group company stakes and financial assets. The investment arm likely receives dividends from associate entities including the flagship A.V. Thomas & Company Limited.
Detailed Analysis
Growth Plans
India's growing agro-commodity export volumes benefiting established trading houses
Potential group-level restructuring or consolidation that could unlock inter-entity value
Rising commodity prices improving trading margins and investment portfolio returns
Industry Tailwinds
India's growing agro-commodity export volumes benefiting established trading houses
Comparable Companies
Unlisted · 1187 Cr
Frequently Asked Questions
About A.V. Thomas Co.
A.V. Thomas Co. Limited is an entity within the A.V. Thomas (AVT) Group, the historic Kerala-based trading and plantation conglomerate. The AVT Group has diversified interests across tea, rubber, spices, and financial services, with roots going back over a century. This entity likely serves as a holding or operating company within the group structure, participating in the group's agro-commodity and investment activities.
Key Milestones
Part of the A.V. Thomas group, which was founded in 1935 in Kochi, Kerala
Established as a trading and investment entity within the A.V. Thomas group structure
Shares traded in the unlisted market at approximately ₹700 per share
Common questions about unlisted shares
You buy from and sell to the wisefolio desk — shares route through the desk's demat, money-in before shares-out.
You enquire
· Takes 2 minutesTell us the company and quantity you want. Share your demat details so we can settle directly into your account.
We source & quote
· Typically within 1 business dayOur desk sources the shares and comes back with a firm price and an allocation for the quantity available.
You accept the allocation
· Quote valid for 3 daysReview the price, quantity and total. Accept to lock the allocation. The quote is valid for a short window before it needs re-pricing.
You transfer the funds
· Pay within 2 days of acceptingPay by direct bank transfer to the desk's published account — never to a personal account. We confirm receipt and begin the transfer.
Shares reach your demat
· Usually credited within 2–3 business daysOnce payment is verified, the shares are transferred from the desk's demat into yours, and you receive a transfer confirmation.
A principal desk for unlisted & pre-IPO shares — you transact with us, not a stranger.
You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Potential group-level restructuring or consolidation that could unlock inter-entity value
Rising commodity prices improving trading margins and investment portfolio returns
Industry Headwinds
Structural challenges in Kerala's plantation sector (rising labour costs, aging plantations)
No near-term IPO or liquidity event to provide price discovery or exit
Commodity price downturns reducing trading income and group dividend flows
Upward Factors
Significant and sustained growth of over 15%, including through expansion into other geographies and increase in profitability to over 8%
Sustenance of healthy financial risk profile and liquidity
Downward Factors
funded capex, acquisition or substantial increase in group exposure, leading to moderation in the financial risk profile; for instance, gearing weakening to 1.2-1.3 times Significant decline in revenue or operating margin on a sustained basis
The description references 'A V Thomas International Limited', creating possible confusion between group entities. Investors must confirm the distinct legal identity and MCA registration of A.V. Thomas Co. Limited before investing.
Source: Media Reports / Public Records
Revenue from agro-commodity trading is sensitive to global price fluctuations in tea, rubber, and spices.
Source: Company Financial Filings
If operating primarily as an investment/holding entity, the market may apply a holding company discount to its NAV, limiting price appreciation.
Source: AlphaHub Research
Secondary market liquidity for unlisted shares is limited; entry and exit at desired prices can be difficult.
Source: Media Reports / Public Records
Family-controlled structure with no public reporting obligations limits minority shareholder information access.
Source: Media Reports / Public Records
The description references 'A V Thomas International Limited', creating possible confusion between group entities. Investors must confirm the distinct legal identity and MCA registration of A.V. Thomas Co. Limited before investing.
Revenue from agro-commodity trading is sensitive to global price fluctuations in tea, rubber, and spices.
If operating primarily as an investment/holding entity, the market may apply a holding company discount to its NAV, limiting price appreciation.
Secondary market liquidity for unlisted shares is limited; entry and exit at desired prices can be difficult.
Family-controlled structure with no public reporting obligations limits minority shareholder information access.
PE: 24.69xx
HARRMALAYA · ~800 Cr
TATACONSUM · ~85000 Cr
A.V. Thomas Family