About the Company:
Bombay Metrics Supply Chain Ltd is a full-service provider of manufacturing of engineered goods and supply chain management services.
Company also offers efficient services in advanced engineering, 3D scanning, rapid prototyping, flow simulation, project management and quality management.
Company’s primary focus remains to focus on and benefit from the “Make in India” initiative by the GoI by aiding in developing supplier capabilities in India.
company helps customers find the right manufacturing source in India for their products and ensure optimal execution and quality by working with qualified and ISO-certified suppliers.
Company oversees the operations, manage supply chain process and choose the right logistics partners to be close to ports connecting us to our customer locations.
Company helps customers understand the benefits and savings of global manufacturing by helping many OEMs and Tier 1 customers manage their entire manufacturing and supply chain processes.
Company’s mission is to deliver top-quality components in a timely and efficient manner, so we can reduce our customers’ overheads in as many areas as possible.
Company’s Background:
Company started operations in 2015 and is now promoted by Nipul Keniya and Mr. Hiten T Shah, who have considerable industry experience and possesses business intellect in the marketing and trading circles of the engineering and supply chain industry.
Backed by the business connections of our Promoters and Directors, their know-how about international procurement markets, as well as significant experience in overseeing manufacturing and quality engineering, company is currently the ‘India Sourcing and Supply Partner’ to MES, Inc., USA.
Company is working towards our aim to explore additional opportunities and extending company’s reach globally by associating with various other Indian and international entities who require company’s comprehensive range of services which include sourcing, procurement, quality management and supply chain management.
Awards received by the Company in recent times:
Company has recently been awarded “Best Exporter of the Year” in the Small Business Awards 2021, “Most Trusted Exporter in Western India” by Topgallant Media for International Service Pride Awards 2021 and declared “Winner” at the India 5000 BEST MSME Awards 2021.
Details of operation wise break-up of revenue for the fiscals ended on March 31, 2021.
Objectives of the Issue:
Fresh Issue: (Rs.4.28 cr)
- To part finance the Working Capital Requirements.
- General Corporate Purposes.
- To meet Issue Expenses.
Management Team:
- Mr. Nipul Hirji Keniya (Designation: Chairman and Managing Director)
- Mr. Hiten Talakchand Shah (Designation: Non-Executive Director)
Positives for the Company:
Wide product and services portfolio with focus on quality.
- Company has gradually diversified, expanded and evolved the range of products and services to provide a one-stop solution for customers.
- As on March 31, 2021, compaany’s product portfolio consists of over thirteen types of engineered castings and forged parts in addition to supply chain management services.
- company engage in facilitating and monitoring continuous manufacturing of new varieties based on the orders of customers and meet their specifications and requirements.
- Company also provides reverse engineering, rapid prototyping, flow simulation, and 3D printing services.
Existing well established relationship with well-connected customer in the ever- growing market for company’s products in North America.
- As the India Sourcing and Supply Partner to the customer MES, Inc., company manage and source a portfolio of wide range of products for MES, Inc. who then supplies the products to the end client.
- Company manages the entire supply chain process for the customer, i.e., from choosing the optimal supplier, sourcing, overseeing the process, quality audit to logistics of the products reaching the customer.
- Company’s customer (MES, Inc) is a well-connected supplier of engineered products in the USA and Mexico market, will established business as its clients.
- Company receives quote from various suppliers in India and we after certain negotiation with supplier submit the final quote to buyer MES and once the quotes are approved by MES we get the business awarded.
- This ensures repeat orders and stream-lined production to delivery processes which enable company to grow the product and service umbrella with a continuous flow of orders.
Asset light business model and competitive products.
- Company’s business model is such that we rely on our ability to design quality and technically sound products from a suitable manufacturer.
- Company has long-standing relationship with suppliers and continuously scope out new manufacturers and provide supplier development assistance along with technical and quality support to ensure smooth processes and proactive communication.
- This arrangement allows company to scale our operations quickly and the products are manufactured as per our specifications at a pre-determined cost and as per our quality standards without incurring any capital expenditure on manufacturing facilities.
- Company operates on an asset light business model which does not require us to invest heavily on physical assets such as plant and machinery, office equipment, etc. and therefore we believe this business model allows us to be capital efficient.
- Company’s business model is scalable, such that we can expand our geographical reach and production capacity and add new products efficiently without disrupting our existing business.
Plans to Increase company’s geographical reach by exploring other international markets.
- At present, company supplies products and provide services primarily to MES, Inc. based in USA and Mexico.
- Thus, company is currently only benefiting from our customer’s reach across the US market.
- Company intends to explore other international markets and source opportunities with varied businesses across different geographies. company believes that this will help us build global connections, expand company’s scope and scale of operations, and establish a brand recognition.
Plans to Focus on establishing company’s presence in domestic market.
- Company is currently focussing on establishing presence in domestic market.
- At present, company is supplying only to one major international customer and intends to explore domestic entities seeking engineered products and the range of services we provide and thus creating a local presence.
- Company believes that our brand and reputation and ability to provide qualitative, wide range of products at competitive prices will help us to develop a fairly new but strong presence in the domestic market.
- Company has already initiated the process of registering as a vendor for an Indian multinational conglomerate and are aiming to connect with more such large and well-known entities and thus establish our brand recognition in India, as well.
Negatives for the Company:
Company does not have any formal agreement with MES, Inc., USA.
- Currently, although Bombay Metrics Supply Chain Ltd is the “India Sourcing and Supply Partner” of our customer MES, Inc., but company does not have any formal agreement with them for the same and thus they may procure from other suppliers based in India.
- Some of these players may already have a robust procurement network and develop better relations with our major customer, MES Inc., which could impact our revenue and profitability. In the future, company may also face competition from new entrants in the segment.
Peer Group Comparison:
- There are no comparable peer which is listed companies in India and which are engaged in the same line of business as Bombay Metrics Supply Chain Ltd Company, hence comparison with industry peers are not applicable.
Financials of the Company:
| (in Crores) | FY 18 | FY 19 | FY 20 | FY 21 |
|---|---|---|---|---|
| Revenue | 7.63 | 20.02 | 29.93 | 32.41 |
| Net Profit | 0.43 | 0.93 | 1.39 | 1.30 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 30th September 2021 |
| Issue Closes on:. | 4th October 2021 |
| Issue Price | Rs.93 |
| Face Value | Rs.10 |
| Minimum Lot | 1200 |
| Minimum Investment | Rs.1,11,600 |
| Issue Constitutes | 29.94% |
| Issue Size | Rs.4.28 cr |
| Market Cap | Rs.14.31 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 4,60,800 |
| Equity Shares Prior to the Issue | 10,78,440 |
| Equity Shares after the Issue | 15,39,240 |
Also Read : List of Upcoming IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 7th October 2021 |
| Initiation of Refunds | on or Before 8th October 2021 |
| Credit of Equity Shares: | on or Before 11th October 2021 |
| Listing Date: | on or Before 12th October 2021 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 12.12 | 7.67 | 37.17% | 38.75 |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/AllotmentBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| Bombay Metrics Supply Chain Ltd 201/Quantum Towers, Ram Baug lane, Near Chincholi Petrol Pump, S.V.Road, Malad (West), Mumbai-400064, Maharashtra, India. Telephone: +91-22-40120561 Email id: cs@bombaymetrics.com Website: www.bombaymetrics.com |
| IPO Registrar Info: |
|---|
| UNISTONE CAPITAL PRIVATE LIMITED 305, A Wing, Dynasty Business Park, Andheri Kurla Road, Andheri East, Mumbai- 400059. Telephone: +91 9820057533 Email: mb@unistonecapital.com Website: www.unistonecapital.com |
| Lead Manager to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai 400 059, India Telephone: 022-62638200 Facsimile: 022-63638280 Email:ipo@bigshareonline.com Website: www.bigshareonline.com |
