TEV and due diligence, bank-grade.
Techno-Economic Viability studies for agri project finance, plus commercial and technical due diligence for lenders, investors, and acquirers. Written to the standard a risk committee actually uses.
A TEV report is not a formality — it is the document a lender's risk committee actually reads before approving project finance. Done well, it compresses the decision: the technology is sound, the market demand is defensible, the implementation is on a realistic calendar, the debt-service coverage is resilient across downside scenarios. Done poorly, it hides the issues, the risk committee pushes back, the sanction slips by a quarter, and the project's working-capital plan breaks.
AgPro's TEV practice is built around the single standard: would our risk committee approve this on the basis of this report? Our partners have sat on both sides of the table — as operators raising project finance and as board members reviewing lender submissions. We write TEVs to that standard. Technical assessment is honest about what the technology actually does at Indian operating conditions. Commercial assessment uses primary-research demand numbers, not syndicated report fillers. Financial exhibits include sensitivity analysis against realistic downsides — bad monsoon, policy shift, commodity swing — not just the happy path.
The same rigour applies to commercial and technical due diligence for M&A and private-equity work. We are the buy-side team's friend who actually finds the pricing problem, the channel-dependency risk, or the regulatory exposure that the standard diligence template misses — because we've run the operating P&L and we know where these bodies are buried.
Five engagement shapes.
- Bank-format TEV study
- Full TEV covering technical, commercial, financial, regulatory, and environmental — written to PSU-bank and NBFC formats. Includes IRR, DSCR, DP, MPBF, sensitivity analysis, and SWOT. Delivered in 3–5 weeks for single-facility projects.
- Lenders Independent Engineer (LIE) report
- Independent technical oversight through project execution — milestone certification, cost-overrun analysis, drawdown recommendations. Quarterly or milestone-triggered cadence.
- Commercial due diligence
- Buy-side or sell-side commercial DD for M&A and PE transactions. Market thesis, customer concentration, channel health, pricing defensibility, unit-economics stress tests.
- Technical due diligence
- For agri-tech, processing, cold-chain, or machinery acquisitions — technology robustness, operating-condition fit, capex requirements, integration complexity, and residual-value view.
- Feasibility + investment thesis
- For early-stage projects and venture-scale bets: bottom-up demand sizing, capex, opex, revenue ramp, and investment-case stress tests. Often paired with our Strategic Consulting practice.
What the risk committee reads.
A TEV produced by AgPro follows a consistent structure designed to lead the reader through risk in the order it actually matters.
- 01Section
Technical assessment
Technology fit for Indian operating conditions, capacity sizing, implementation plan, vendor evaluations, environmental and regulatory review.
- 02Section
Market + commercial
Bottom-up demand sizing, competitive position, pricing defensibility, channel architecture, and ramp assumptions. Primary-interview backed.
- 03Section
Financial projections
5–10 year P&L, cash flow, balance sheet, IRR, DSCR, DP, MPBF. Base / upside / downside scenarios with specific trigger assumptions.
- 04Section
Risk + mitigation
Market, technical, regulatory, environmental, and execution risks enumerated with specific mitigants and residual-risk assessment.
- 05Section
SWOT + strategic fit
Honest strengths and weaknesses, opportunities that the lender should know about, threats that may materialise within the loan tenure.
- 06Section
Recommendation
Viable / viable-with-conditions / not-viable. Where we recommend conditions, they are specific — debt structure, covenant design, phased disbursal.
Commonly bundled with
Clear answers before the call.
- Most public-sector banks (SBI, PNB, and similar) require a TEV study for project-finance loans above ₹10 Crore; some lenders set the threshold lower for complex agri-infrastructure projects. Private banks and NBFCs frequently require TEVs above the same threshold for risk-committee approval, regardless of formal mandate.
- A bank-format TEV covers technical assessment (technology, capacity, implementation plan), commercial assessment (market demand, competitive position, pricing), financial assessment (projected P&L, cash flow, IRR, DSCR, DP, MPBF), regulatory and environmental review, SWOT, and risk mitigation. The financial exhibits are the heart of it — every other section exists to justify the numbers.
- A straightforward single-facility TEV runs 3–5 weeks end-to-end. Multi-unit or multi-state projects, or projects with unusual technology or regulatory questions, can run 6–10 weeks. We publish a scoped timeline with the engagement proposal, and we commit to it.
- Yes. Commercial due diligence for buy-side and sell-side agri transactions — market thesis validation, customer concentration, channel health, pricing defensibility, unit-economics stress tests, and synergy models. Led jointly with our Strategic Consulting practice when the deal is part of a larger strategy.