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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.
Valuation
Financials (FY2020)
Investment Thesis
Krimy Biscuits and Chemical Industries Limited is a small, Anand-based Gujarat manufacturer with five decades of operating history in biscuit production and chemical manufacturing. The share price at face value of INR 10 and very limited market activity suggest minimal investor interest and limited financial performance. While the company operates in two sectors with underlying demand, its small scale, strong competition in biscuits, and regulatory complexity in chemicals create significant headwinds. The company represents a low-liquidity, high-risk micro-cap unlisted investment with limited information available for thorough due diligence.
Pros
Cons
Business Segments
Biscuit and Bakery Products Manufacturing
Manufacturing of biscuits and bakery food products for distribution in Gujarat and surrounding regions. Products likely include glucose biscuits, cream biscuits, and other standard bakery items sold through local retail and wholesale channels.
Chemical Manufacturing
Manufacturing of industrial or specialty chemicals. Given Anand's proximity to Gujarat's chemical corridor (Ankleshwar, Vadodara), the company may produce agro-chemicals, industrial chemicals, or specialty chemical intermediates.
Revenue Model
Krimy Biscuits generates revenue through the sale of manufactured biscuit and food products to distributors, retailers, and institutions in Gujarat and potentially neighboring states. Chemical revenues come from sales to industrial buyers, traders, or direct end-users. The food segment follows FMCG distribution patterns with thin per-unit margins and high volume requirements. The chemical segment may offer better margins on specialty products but with higher regulatory compliance costs.
Detailed Analysis
Growth Plans
Anand district's strong industrial ecosystem and GIDC infrastructure supporting operational continuity
Gujarat's growing food processing sector (dairy, snacks, confectionery) providing regional market opportunities
Specialty chemical demand from Gujarat's pharmaceutical and agrochemical industries offering higher-margin product opportunities
Government's Production Linked Incentive (PLI) scheme for food processing potentially benefiting qualifying manufacturers
Recent Developments
India's Food Safety and Standards Authority of India (FSSAI) has increased compliance requirements for food manufacturers, including mandatory food safety audits and labeling requirements. Small biscuit manufacturers like Krimy face increased compliance costs.
2023-2024Gujarat Pollution Control Board (GPCB) continued to enforce stricter environmental standards for chemical manufacturers. Chemical companies in Gujarat are required to adopt cleaner production technologies and meet updated effluent treatment standards.
2022-2023Demand for packaged biscuits and food products saw a surge during and after COVID-19 as consumers shifted to packaged food. This provided a temporary demand boost for regional biscuit manufacturers.
Comparable Companies
BRITANNIA · ~INR 1,00,000 Cr
ESTER · ~INR 1,500 Cr
Frequently Asked Questions
About Krimy Biscuits and Chemical Industries Limited
Krimy Biscuits and Chemical Industries Limited is a Gujarat-based food and chemicals manufacturer incorporated in 1975, with diversified operations spanning biscuit manufacturing and chemical industrial products. The company's unique dual-sector model combines food processing capabilities with specialty chemical manufacturing, serving both consumer and industrial markets. In the biscuits segment, Krimy manufactures a range of glucose, cream, and specialty biscuits distributed through regional retail networks in Gujarat and neighboring states. India's biscuits market is the third-largest in the world by volume, estimated at Rs.50,000 crore growing at 8% annually. Despite intense competition from Parle, Britannia, and ITC, regional biscuit manufacturers serve loyal local consumer bases with price-accessible products. On the chemicals side, the company manufactures industrial chemicals and chemical compounds serving Gujarat's dense manufacturing ecosystem. Gujarat contributes over 60% of India's chemicals production, making it the natural home for chemical manufacturers serving industrial customers in the petrochemical, textiles, and pharmaceutical sectors. With nearly 50 years of operations, Krimy Biscuits has navigated India's economic liberalization, the entry of MNC food companies, and the rapid growth of organized retail — demonstrating resilience through consistent consumer loyalty and industrial customer relationships in Gujarat. The company's shares are available in unlisted markets, offering investors exposure to both Gujarat's food processing and specialty chemicals sectors through a single investment vehicle.
Key Milestones
1975: Krimy Biscuits and Chemical Industries Limited incorporated in Anand, Gujarat during India's early post-Green Revolution industrial expansion
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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.
Industry Tailwinds
Anand district's strong industrial ecosystem and GIDC infrastructure supporting operational continuity
Gujarat's growing food processing sector (dairy, snacks, confectionery) providing regional market opportunities
Specialty chemical demand from Gujarat's pharmaceutical and agrochemical industries offering higher-margin product opportunities
Government's Production Linked Incentive (PLI) scheme for food processing potentially benefiting qualifying manufacturers
Industry Headwinds
Increasing domination of regional biscuit markets by large national brands with aggressive distribution and pricing
Tightening GPCB environmental regulations increasing compliance costs for chemical operations
Agricultural commodity price inflation squeezing food product margins
Limited capital access for product portfolio upgrades or capacity expansion
The Indian biscuit market is dominated by Parle Products (Parle-G, Hide & Seek), Britannia Industries (Good Day, Marie Gold), and ITC Sunfeast. These large FMCG players have massive distribution networks, advertising budgets, and brand recognition that small regional manufacturers cannot match.
Source: Media Reports / Public Records
Operating in both food (FSSAI) and chemical (CPCB/GPCB/MoEF) regulated sectors creates significant dual compliance complexity. Any non-compliance in either sector could result in production shutdowns or license cancellations.
Source: Media Reports / Public Records
Food manufacturing depends on wheat, sugar, palm oil, and other agricultural commodities subject to price volatility. Chemical manufacturing similarly depends on petrochemical feedstocks with international price linkages.
Source: AlphaHub Research
The share price at face value (INR 10) and likely minimal trading volumes indicate near-zero market liquidity for existing shareholders.
Source: AlphaHub Research
Small production scale in both segments creates cost disadvantages compared to large competitors in biscuit manufacturing (national brands) and chemical manufacturing (large Gujarat chemical companies).
Source: Media Reports / Public Records
The Indian biscuit market is dominated by Parle Products (Parle-G, Hide & Seek), Britannia Industries (Good Day, Marie Gold), and ITC Sunfeast. These large FMCG players have massive distribution networks, advertising budgets, and brand recognition that small regional manufacturers cannot match.
Operating in both food (FSSAI) and chemical (CPCB/GPCB/MoEF) regulated sectors creates significant dual compliance complexity. Any non-compliance in either sector could result in production shutdowns or license cancellations.
Food manufacturing depends on wheat, sugar, palm oil, and other agricultural commodities subject to price volatility. Chemical manufacturing similarly depends on petrochemical feedstocks with international price linkages.
The share price at face value (INR 10) and likely minimal trading volumes indicate near-zero market liquidity for existing shareholders.
Small production scale in both segments creates cost disadvantages compared to large competitors in biscuit manufacturing (national brands) and chemical manufacturing (large Gujarat chemical companies).
Late 1970s–1980s: Established biscuit manufacturing and chemical production operations in Anand's industrial area; served Gujarat's growing consumer and industrial markets
1990s: Post-liberalization competition increased from national biscuit brands (Parle, Britannia); company maintained regional operations
2000s–present: Continued as a small regional manufacturer; share price remained at or near face value reflecting limited growth and investor interest
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