About the Company:
Meera Industries Ltd is a growing textile machine manufacturer dealing in twisting, cabling, winding and heat setting machines.
Company designs, develops and sells high-performance machines to various processing and manufacturing units in the textile industry.
Company has started its own yarn twisting division in Fiscal 2017-18, which includes processing and selling of yarn.
Company caters to the domestic market having a customer base PAN India for textile machinery products as well as yarn twisting division.
Company has also developed an extensive export market for textile machinery products covering continents like America, South America, Africa, Europe and Asia and include major countries like Germany, Spain, Turkey, Thailand, Belgium, Italy, Kenya, Nigeria, South Africa, Peru, Bolivia and USA to name a few.
Company’s Manufacturing Facilities:
Company’s manufacturing unit is located at Surat, Gujarat and is spread over an area admeasuring around 7,882 square meters (approximately).
Company has established an in-house R&D Center recognized by the Department of Scientific and Industrial Research (DSIR), Government of India and the facility is located within the manufacturing unit.
Company’s R&D center is working on the on-going projects & new development with latest designing. Company’s manufacturing facilities are certified as per ISO 9001 for the Designing Manufacturing & Supply of Yarn Twisting & Winding Machines.
Revenue From Top 10 Customers:
Revenue from Exports:
Subsidiary Company:
In the year 2016, with a view to expand Meera Industries market in the western countries, Company incorporated Meera Industries USA LLC as their wholly owned subsidiary.
The subsidiary, situated in the State of Northern Carolina began its operations in 2017 and caters to their growing base of customers in the USA, Canada and various South American countries like Mexico, Ecuador, Peru, etc.
Management Team:
- Mr. Dharmesh V. Desai (Designation: Chairman & Managing Director)
- Mrs. Bijal D. Desai (Designation: Wholetime Director)
Objectives of the Issue:
- Fund expansion of our existing manufacturing facilities at Sachin, Surat.
- Fund expenditure for General Corporate Purposes.
Financials of the Company:
| (in Crores) | FY 17 | FY 18 | FY 19 |
|---|---|---|---|
| Revenue | 13.49 | 21.94 | 36.41 |
| Net Profit | 1.25 | 2.40 | 4.94 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Meera Industries Ltd | 10 | 12.59 | 17.87 | 35.45% | 35.52 |
| Lakshmi Machine Works Ltd | 10 | 192.98 | 28.65 | 12.28% | 1,571.49 |
| Lakshmi Automatic Loom Works Ltd | 10 | 2.83 | 12.40 | 34.59% | 8.19 |
| Stovec Industries Limited | 10 | 189.48 | 11.56 | 28.01% | 676.26 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on: | 13th June 2019 |
| Issue Closes on:. | 18th June 2019 |
| Issue Price | Rs.225 |
| Face Value | Rs.10 |
| Minimum Lot | 500 Shares |
| Minimum Investment | Rs.1,12,500 |
| Issue Constitutes | 11.73% |
| Issue Size | Rs.11.74 cr |
| Market Cap | Rs.100.11 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 5,22,000 |
| Equity Shares Prior to the Issue | 39,27,500 |
| Equity Shares after the issue | 44,49,500 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 21st June 2019 |
| Initiation of Refunds | on or Before 24th June 2019 |
| Credit of Equity Shares: | on or Before 25th June 2019 |
| Listing Date: | on or Before 26th June 2019 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 12.59 | 17.87 | 35.45% | 35.52 |
| Check IPO Allotment Status: |
|---|
Karvy Website (Click on the below Link)http://kosmic.karvy.com:81/ipotrack/ |
| Company Contact Info: |
|---|
| Meera Industries Ltd 2126, Road No. 2 GIDC, Sachin, Surat – 394230, Gujarat Tel: + 91 261 2399114 Fax: +91 261 2397269 Email: info@meeraind.com Website: www.meeraind.com |
| IPO Registrar Info: |
|---|
| KARVY FINTECH PRIVATE LIMITED Karvy Selenium, Tower-B, Plot No. 31 & 32, Gachibowli, Financial District Nanakramguda, Serilingampally, Hyderabad – 500 032, Telangana Tel No.: +91 40 6716 2222 Fax No.: +91 40 2343 1551 E-mail: einward.ris@karvy.com Investor Grievance E-mail: meeraindustries.fpo@karvy.com Website: https://karisma.karvy.com |
| Lead Manager to the Issue: |
|---|
| ARYAMAN FINANCIAL SERVICES LIMITED 60, Khatau Building, Ground Floor Alkesh Dinesh Modi Marg, Fort, Mumbai – 400 001 Tel: +91 22 6216 6999 Fax No.: +91 22 2263 0434 Email: ipo@afsl.co.in Website: www.afsl.co.in |
