Consecutive Commodities BSE RI review - (Not Rated)

•    The company is engaged in the business of trading in agri commodities.
•    It mulls trading in gold and silver as well.
•    The company posted average financial performance with minuscule profits.
•    Though this RI is at par value, it is a “High Risk/Low Return” bet.
•    There is no harm in skipping this dicey bet.

PREFACE:
The company is coming out with its Rights Issue for which is has fixed a record date as June 08, 2026, and the offer document is dated June 24, 2026, but the offer document with designated exchanges were uploaded only this noon i.e., July 01, 2026. This RI is opening on July 02, 2026. Such type of things is seen quite often. 

ABOUT COMPANY:
Consecutive Commodities Ltd., (CCL) erstwhile known as Consecutive Investments and Trading Co. Ltd. is engaged in the business of trading the of agricultural commodities such as wheat, rice, maize, vegetables including capsicum, onion, tomato, potato etc and other agricultural products. The company sources the agricultural products from the manufacturers as per agreed terms and then these products are sold to its network of distributors. Owing to its presence in the market, it has built strong relationships with both the farmers as well as with the wholesaler/retailers’ community. CCL’s management actively advised on corporate strategy and planning. With a collective experience in the trading industry, with their vast experience they have handled various areas of business including strategic planning and implementation, procurement, storage, marketing and has led institutions across business development, strategy as well as operations over the period of years.

In addition to its existing business of agriculture trading, the company intends to expand its operations by entering the trading of gold and silver. This diversification aligns with its strategic vision to strengthen market position and explore new opportunities in the commodity sector. The trading of precious metals will complement its current business activities, allowing it to leverage its expertise in trading and risk management. This expansion is expected to enhance its revenue streams, mitigate market risks, and create long-term value for stakeholders. As of the date of this offer letter, it has just 10 employees on its payroll.

ISSUE DETAILS:
The company is coming out with its Rights Issue (RI) of 480450000 equity shares of Re. 1 each at par value to mobilize Rs. 48.05 cr. The RI opens for subscription on July 02, 2026, and will close on July 24, 2026. The company is offering RI in the ratio of 3 for 1 to its eligible stakeholders as of the record date of June 08, 2026. The company is asking for full application money for number of shares applied. Post allotment, RI shares will be listed on BSE. The company is spending Rs. 0.25 cr. for this RI process, from the net proceeds, it will utilize Rs. 37.44 cr. for working capital, and Rs. 10.36 cr. for general corporate purposes. 

The RI is solely lead managed by the company itself, Maheshwari Datamatics Pvt. Ltd. is the registrar to the issue. 

Post-RI, company’s current paid-up equity capital of Rs. 16.01 cr. will stand enhanced to Rs. 64.06 cr. Based on the RI pricing, the company is looking for a market cap of Rs. 64.06 cr. 

FINANCIAL PERFORMANCE:
On the financial performance front, for the last three fiscals, the company has posted total revenue / net profit, of Rs. 0.33 cr. / Rs. 0.13 cr. (FY24), Rs. 23.77 cr. / Rs 2.23 cr. (FY25), Rs. 58.09 cr. / Rs. 2.64 cr. (FY26). Its margins may not sustain going forward, as it is operating in a highly competitive and fragmented segment. It posted minuscule margins for the reported periods.

DIVIDEND POLICY:
The company has not paid any dividends for the reported periods of the offer document. It will adopt a prudent dividend policy, based on its financial performance and future prospects. 

SCRIP PERFORMANCE: BASED ON BSE WEBSITE DATA: SCRIP CODE: 539091 (FV Re. 1).
The scrip last closed on cum-right basis at Rs. 1.07 on June 05 2026, and opened on an ex-right basis at Rs. 1.08 on June 08, 2026. Since then, it has marked a high/low of Rs. 1.23 / Rs. 0.86. The scrip last closed at Rs. 1.23 as of July 01, 2026. For the last 52 weeks’ it has posted a high/low of Rs. 1.32 / Rs. 0.65. 

The promoters’ holding has been constant at 24.16% for the last two quarters ended on March 31, 2026. The counter is well maintained above the par value to tempt investors.