Maruti Interior Products Ltd

About the Company:

Maruti Interior Products Ltd is into manufacturing and Domestic sale & Export of modular kitchen storage system, Aluminium long wardrobe handle & profile handle.

Company has wide range of product offerings for different customer segments.

Company’s Brand Everyday Kitchen is focused towards economic range and our other brand Spitze by Everyday is offering premium products.

Company also manufactures products for other companies on OEM basis.

Company has an in house team of designers who look after, product development and quality control. All products manufactured by MIPL are designed inhouse and tested to maintain the product quality standards.

 

 

Company’s Online Presence:

Company has an established marketing and distribution network across India. Further company sells direct to customers via online ecommerce platforms like Amazon and flipkart. Looking at online market growth in India, company has a firm business plan to expand online sales.

With ecommerce aims to to reach out direct to customers, As Do it yourself (DIY) concept is growing India, company has developed DIY product range. This DIY products come with easy installation guide and video helping end users in assembling the product.

 

 

Contract Manufacturing:

Apart from own brand products, company also manufacture products for big companies like GODREJ, HAFELE INDIA, KAFF APPLIANCES, WALMART, HOMELANE, LIVESPACE, SPACEWOOD etc.

Currently company has total 300+ dealers and 25+ distributors PAN INDIA. Company also has distributor in Uganda.

In the coming 5 years, company is planning to add approx. 200+ active dealers and 15+ distributors.

 

 

Initial stage talks with WALMART USA.

Company is in initial stage with WALMART USA and are in talk with 2 companies who purchase wire products in very big quantity.

Company is also in process of tie up for oven wire shelf with one company in AUSTRIA.

 

 

Company’s revenue from Exports: 

 

Company’s Expansion Plan:

Company is planning to introduce wardrobe hardware like sliding door fittings and also planning to enter into kitchen appliances segment, we will be starting with small appliances like Hand Blender, Blenders, Electric Grills, Toasters, Air Fryers, induction cookers, coffe maker, electric kettles, personal grooming products like trimmers, shapers, hair during, hair straightener, hair cutting equipment etc.

And also plans to gradually introduce big appliances like Chimneys, In built ovens, dishwashers, cooktops, induction tops, etc. Apart from kitchen and wardrobe field,

Company is also planning to launch a premium brand in segment of DENIM & Eye Wear Products (Garment & Fashion Industry). It will be launched within 2-3 months. That will be 100% online selling with online brand building.

With all these products and projects, company plans to achieve turnover of around 100cr within 5-6 years.

 

 

Company’s Manufacturing Facility:

“Maruti Interior Products Limited” are Manufacturer of high quality and durable range of modular Vertical Storage, Corner Storage, Drawer Pull Outs, Aluminium Profiles for Kitchens & wardrobe, Midway Storage etc.

Company’s factory is spread across approx. 1,00,000 sq.ft. of area.

 

 

Major Product Ranges offered by the Company:

• Vertical Storages, Corner Storages.
• Drawer Pull Outs, Inserts.
• Slim Tandem Drawers.
• Mid Way Accessories.
• Drawer Organisers.
• Portable Storage Products, Wardrobe Storage, Accessories.
• Wardrobe Handles, Main Door Handles, Cabinet Handles, Profile Handles.
• Food Waste Disposer etc.

 

 

 

Management Team:

1. Mr. Paresh P. Lunagaria (Designation: Managing Director)
2. Mr. Nirmal P. Lunagaria (Designation: Director & CFO)

 

 

 

 

Objectives of the Issue:

Fresh Issue: (Rs. 11 cr )

• To set up fully automatic Nickel/ Chrome Plating Plant and Powder Coating Plant.
• Working Capital Requirement.
• General Corporate Purpose.

 

 

 

Peer Group Comparison:

We believe that no other listed company which is specifically comparable to Maruti Interior Products Ltd with respect to size and business model.

 

 

Financials of the Company:

(in Crores)	FY 19	FY 20	FY 21	30th Sept 21
Revenue	11.85	18.18	15.23	11.47
Net Profit	0.98	2.28	1.54	1.64

 

 

Fund Utilisation:

Particulars	Amount (Rs. in Crores)
To set up fully automatic Nickel/ Chrome Plating Plant and Powder Coating Plant including shed	6.65 cr
Working Capital Requirement	2.85 cr
General Corporate Purpose	0.90 cr
Net Proceeds	10.40 cr

 

 

 

IPO Details:

Details	Info
Issue Opens on	3rd February 2022
Issue Closes on:.	8th February 2022
Issue Price	Rs.55
Face Value	Rs.10
Minimum Lot	2000 Shares
Minimum Investment	Rs.1,10,000
Issue Constitutes	26.49%
Issue Size	Rs.11 cr
Market Cap	Rs.41.5 cr
Listing at	BSE SME
Equity Shares Offered (Fresh)	20,00,000 (Rs. 11 cr)
Equity Shares Prior to the Issue	55,50,000
Equity Shares after the issue	75,50,000

Also Read : List of Upcoming IPO’s in India.
Also Read : List of Upcoming SME IPO’s in India.

 

Important Dates:

Finalization of Basis of Allotment	on or Before 11th February 2022
Initiation of Refunds	on or Before 14th February 2022
Credit of Equity Shares:	on or Before 15th February 2022
Listing Date:	on or Before 16th February 2022

 

 

IPO Valuation Parameters:

Earnings Per Share (EPS)	Price To Earnings ratio (PE)	Return on Net Worth (RoNW)	Net Asset Value (NAV)
2.78	19.78	15.26%	18.25

 

Check IPO Allotment Status:
Bigshare: http://www.bigshareonline.com/IPO/Allotment BSE IPO Website: https://www.bseindia.com/IPO/Allotment

 

 

Company Contact Info:
Maruti Interior Products Ltd Plot No. 13, Survey No. 236, Jay Krishna Industrial Estate, Veraval, Taluka Kotda Sangani Veraval, Gujarat. – 360024 Tel No: +91- 9978939952 Email: compliance@everyday-india.com Website: www.spitzebyeveryday.com www.everyday-india.com

 

IPO Registrar Info:
BIGSHARE SERVICES PVT. LTD. 1st Floor, Bharat Tin Works Building, Opp. Oasis, Makwana Road, Marol, Andheri East, Mumbai – 400 059 Tel No.: +91 – 22 – 62638200 Email:ipo@bigshareonline.com; Website: www.bigshareonline.com

 

Lead Manager to the Issue:
ISK ADVISORS PRIVATE LIMITED 501, A. N. Chambers, 130, Turner Road, Bandra West, Mumbai-400 050 Tel No.: +91 – 22 – 26431002 Email: ncmpl@ncmpl.com Website: www.iskadvisors.com