Mahamaya Lifesciences Gears Up for IPO Launch: MD Krishnamoorthy Ganesan Shares the Growth Vision

MR. KRISHNAMURTHY GANESAN, MANAGING DIRECTOR

New Delhi [India], November 5: The company stands poised for its next phase of growth in India's rapidly evolving agrochemical sector. With a focus on safe, sustainable, and high-quality crop protection solutions, the company aims to strengthen its manufacturing base and global presence through its public listing.

In an exclusive interview with Mr. Krishnamoorthy Ganesan, Managing Director of Mahamaya Lifesciences Limited, shares insights into the company's journey, growth vision, and commitment to innovation and sustainability.

Q. 1.What were the key factors behind Mahamaya Lifesciences' decision to launch its IPO at this stage?

We established our formulation plant in 2018 and began production in 2021. Over the last few years, our name has become well recognized in the B2B market for quality and reliability. The demand for our formulations has grown tremendously, as have our exports. To meet this rising demand and expand capacity—both in formulations and technical manufacturing—we decided to go public. The IPO funds will support our plant expansion, R&D setup, pilot plant, and new technical facility. This is the right time for us to scale up and strengthen our market presence.

Q.2. How will these investments support your operational growth and market positioning?

Currently, our production capacity is lower than market demand. The expansion will help us bridge this gap. The new technical plant will allow us to manufacture active ingredients and key molecules in-house, enhancing our cost efficiency and product portfolio. This move also supports our entry into technical sales, in addition to formulations, both in India and overseas. We are expanding our footprint beyond North India into Western and Southern markets, so the additional capacity will help us serve these regions better.

Q. 3.The agrochemical industry is moving toward sustainable and bio-based solutions. How is Mahamaya aligning with this global shift?

Sustainability has always been at the core of our product strategy. We focus only on safer molecules — our product range includes no red-labelled (highly toxic) chemicals. Most of our products fall under green and blue categories, meaning they are safe for crops, users, and the environment. For example, our flagship molecule, Emamectin Benzoate, is categorized as bio-based in many countries. We continue to strengthen our R&D to develop safer formulations and bio-fermented solutions. The upcoming expansion will also include a dedicated R&D facility for biological products.

Q. 4.Mahamaya has a growing international presence. How significant are exports to your revenue, and what's your expansion strategy globally?

Exports currently contribute about ₹12 crore out of our ₹264 crore revenue, and we aim to increase this to 15–20% in the coming years. We already have a presence in countries such as Egypt, Turkey, the UAE, and several African and Latin American markets. Expanding globally requires extensive regulatory work and product registration in each country, which we carry out rigorously. We collaborate with reputed local partners to understand market-specific requirements and customize formulations accordingly. We are now looking to expand into Vietnam and other Southeast Asian regions.

Q. 5.Why did you choose to list on the BSE SME Platform, and how do you plan to build investor confidence?

Based on our financial size, we qualify under the SME category. The BSE SME Platform offers an excellent opportunity for growing companies like ours to access capital and visibility. Our expansion plans and strong financial performance ensure that investors will benefit. The name Mahamaya itself stands for quality and trust, and we are confident our shareholders will feel secure and rewarded through their association with us.

Q. 6.How do you ensure regulatory compliance while maintaining cost competitiveness and scalability?

Compliance is a non-negotiable aspect of our business. Every product undergoes thorough testing for safety, toxicology, and environmental impact as per Central Insecticide Board (CIB) guidelines. With over two decades of experience in regulatory affairs, we ensure that our products meet all global standards before launch. We focus on safer, eco-friendly molecules and are developing a separate R&D division for biotechnology-based and bio-fermented solutions to align with future regulatory trends.

Q. 7.With over 50 products across insecticides, herbicides, fungicides, and bio-based solutions — which categories will drive future growth?

Insecticides currently account for nearly 50–55% of our portfolio, followed by herbicides and fungicides. Given India's tropical climate, insecticides will continue to dominate, but fungicides and herbicides are also gaining importance as farmers shift to high-value crops like fruits, vegetables, and pulses. We anticipate balanced growth across these segments in the next few years, driven by innovation and changing agricultural patterns.

Q. 8.What differentiates Mahamaya Lifesciences from other players in the agrochemical industry?

Our strength lies in R&D, product quality, and regulatory expertise. We conduct extensive research before introducing any molecule, ensuring safety and efficacy. For instance, our star product, Emamectin Benzoate, is manufactured by only a few companies in India, and many leading players rely on Mahamaya for supply. We also customize formulations to meet the varied requirements of different clients, both domestic and international. Our reliability and consistency have made us a trusted partner across the agrochemical ecosystem.

Q. 9.Finally, what message would you like to share with investors as Mahamaya Lifesciences embarks on its public journey?

Mahamaya stands for quality, reliability, and satisfaction — values we extend to our customers and investors alike. We are committed to sustainable growth through innovation and responsible manufacturing. Investors can have full confidence in our vision; their trust will not only yield returns but also support India's journey toward safer, more sustainable agriculture.

With a strong foundation in R&D, a clear focus on safety and sustainability, and a strategic expansion plan, Mahamaya Lifesciences Limited is well-positioned to become a leading name in the agrochemical sector. Its IPO marks not just a financial milestone, but a step toward redefining the future of environmentally responsible crop protection in India and beyond.

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