About the Company:
Incorporated in 2009, Mohini Health & Hygiene Ltd is an ISO 9001(QMS), ISO 140001 (EMS) and 18001 (OHSAS) certified Company and is engaged in manufacturing and export of absorbent cotton and medical consumable products.
Company, formerly known as Mohini Fibers Limited was engaged in the business of dealing and processing of waste cotton, yarn and textile fabric and has now diversified into the health & hygiene sector with advent of manufacturing of medical consumable products.
Mohini Health and Hygiene Ltd has their registered office and manufacturing facilities situated at Pithampur, Madhya Pradesh.
Company has been issued Certificate of Compliance from UK Certification & Inspection Limited and has been inspected and assessed according to the Global Organic Textile Standard by One Cert International Private Limited.
Company operates both in domestic and international markets and has been awarded as Two Star Export House by Office of the Joint Director General of Foreign Trade.
Company’s revenue from operations from domestic region and international markets contributed around 44.77% and 55.23% respectively for the period ended September 30, 2017.They also export their products majorly to countries such as Poland, Italy, Lativa, Russia, Spain, Greece, etc.
Company Sells products under the following Main Categories:
Company’s Product Portfolio:
- Absorbent Bleached Surgical Cotton
- Absorbent Cotton Wool
- Cotton Balls
- Cotton Ear Buds
- Cotton Zig Zag
- Baby Diapers
- Face Wipe
- Bandage/ First Aid Bandage.
- Non Woven Surgical Tapes.
Upcoming Products to be Launched by the Company:
- Hand Sanitizer.
- Liquid hand wash.
- First Aid Kit.
- Basic dressing Pack.
- Pain Relief Patch.
- Fever Cooling Patch.
- Mosquito Repellant Patch.
- Surgical Gloves.
Top 5 Exporting Countries:
| Country | Amount in Crores (Rs.) |
|---|---|
| Poland | 19.77 |
| Italy | 8.35 |
| Latvia | 7.74 |
| Russia | 2.35 |
| Spain | 2.02 |
| Greece | 1.56 |
Company’s Capacity Utilization:
Management Team:
- Mr. Sarvapriya Bansal (Designation: Chairman and Executive Director)
- Mr.Avnish Bansal (Designation: Managing Director)
- Ms. Parul Agarwal (Designation: Non Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Sarvapriya Bansal | 11,12,500 | 2.53 |
| Avnish Bansal | 1,01,15,736 | 5.41 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake (%) |
|---|---|---|
| Promoters | ||
| Sarvapriya Bansal | 9.39% | 6.10% |
| Avnish Bansal | 85.35% | 55.47% |
| Promoter Group Entities | —– | —— |
| Total | 94.74% | 61.57% |
Objectives of the Issue:
- Repayment/ Prepayment of certain Unsecured Borrowings availed by the company.
- Funding the working capital requirements of the Company.
- General Corporate Purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Repayment/ Prepayment of certain Unsecured Borrowings availed by our company |
8.00 |
| Funding the working capital requirements of the Company | 11.20 |
| General Corporate Purposes. | 7.61 |
| Net Proceeds | 26.81 cr |
Peer Group Comparison:
We believe that there are no listed Companies in India which are engaged in manufacturing of absorbent cotton and medical consumable products.
Further there are no listed entities which are focused exclusively on the segment in which Mohini Health and Hygiene operates. Hence, it is not possible to provide an industry comparison in relation to the Company.
Positives for the Company:
Presence in International markets:
- Company’s revenue from export operations contributed 55.22% of their total revenue from operations. At present they are exporting to nearly 11 countries and have presence in around 25 countries.
Expanding their Product Portfolio:
- Company has a wide product basket and is planning to add many new products , which will increase the turnover in the coming years.
Enhancing their customer base:
- Company intend to grow in the business continuously by adding new customers. With growth in the retail sector company also aims to tap medical super stores and super markets for their products to be made readily available to end consumers.
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 | 30th Sept 17 |
|---|---|---|---|---|---|---|
| Revenue | 41.45 | 48.69 | 91.03 | 123.09 | 137.73 | 85.16 |
| Net Profit | 0.64 | 0.73 | 1.93 | 3.8 | 3.40 | 3.64 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 5th February 2018 |
| Issue Closes on:. | 7th February 2018 |
| Issue Price | Rs.40 – 42 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 |
| Minimum Investment | Rs.1,26,000 |
| Issue Constitutes | 35% |
| Issue Size | Rs.26.81 cr ($4.25 million) |
| Market Cap | Rs.76.59 cr ($12.51 million) |
| Listing at | NSE SME |
| Total Equity Shares Offered (Fresh) | 63,84,000 |
| Equity Shares Prior to the Issue | 1,18,51,900 |
| Equity Shares after the Issue | 1,82,35,900 |
Important Dates:
| Finalization of Basis of Alottment | on or before 12th February 2018 |
| Initiation of Refunds | on or before 14th February 2018 |
| Credit of Equity Shares: | on or before 15th February 2018 |
| Listing Date: | on or before 16th February 2018 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt/ Equity Ratio |
|---|---|---|---|---|
| 2.91 | 14.43 | 13.83% | 82.80 | 2.64 |
Grey Market Premium :
| Date | IPO | Price Band | Grey Market premium |
|---|---|---|---|
| 13/02/18 | Mohini Health & Hygiene Ltd | 40 – 42 | 12 – 15 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 40% |
| Check IPO Allotment Status: |
|---|
Link InTime Website (Click on the below Link)https://linkintime.co.in/PublicIssues/ |
| Company Contact Info: |
|---|
| Mohini Health and Hygenie Limited Plot No 109, Sector 3,s Industrial Area Pithampur Dhar 454774 Madhya Pradesh, India Tel: 07292426666 Email: investors@mohinihealthandhygiene.com Website: www.mohinihealthandhygiene.com |
| IPO Registrar Info: |
|---|
| LINK INTIME INDIA PRIVATE LIMITED C-101, 1st Floor, 247 Park, L.BS. Marg, Vikhroli (West), Mumbai 400083, Tel: +91 022 49186200; Fax: +91 022 49186195 Email: mohini.ipo@linkintime.co.in Website: www.linkintime.co.in |
| Lead Manager to the Issue: |
|---|
| PANTOMATH CAPITAL ADVISORS PRIVATE LIMITED 406-408, Keshava Premises, Behind Family Court, Bandra Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India Tel: +91-22 61946719; Fax: +91-22 2659 8690 Email: ipo@pantomathgroup.com Investor Grievance Id: ipo@pantomathgroup.com Website: www.pantomathgroup.com |
