About the Company:
Omfurn India Ltd was established in 1997 to manufacture premium quality commercial furniture for its customers.
Company had setup a manufacturing unit in the year 2005, which is equipped with sophisticated machinery and with latest technology.
Company has registered office situated at 109, Gundecha Industrial Complex, Akrurali Road, Kandivali East, Mumbai – 40010, Maharashtra.
They manufacture and supply modular furniture which broadly includes hotel furniture, office furniture, school furniture, wooden shutter doors&door frames in terms of customized, system based or Turnkey project’s throughout India.
Company’s manufacturing unit is situated in Umbergaon, Gujarat.
This unit is equipped with latest woodworking CNC machines from Italy, Germany, Turkey & Austria of the leading international brands.
In addition to the wide range of stock products, they also design, manufacture and install custom furniture tailored to specific needs.
Company does projects across various sectors, ranging from Hotels, Residential, Offices, Shopping Malls, Hospital, IT Parks, International Schools etc
Company has tied up with leading developers to supply the doors to their projects and also has many big companies to supply office furniture for their Office spaces.
Major Clients are as follows:
- Reliance Industries Ltd
- Larsen & Toubro Infotech Ltd.
- Pfizer Ltd.
- L & T Realty Ltd.
- Omkar Realtors Developers.
- Lodha Group.
- Kalpataru Group.
- Oberoi Realty.
Major Projects Completed are as Follows:
- Westin Hotel, Oberoi Group, Mumbai.
- Sangrila Hotel, Pallazzio Hotel & Leisure Ltd. Mumbai.
- Lodha New Cuff parade, Wadala, Mumbai.
- Kalpataru Radiance, Goregaon, Mumbai.
- Omkar Realtors Developers, Omkar 1973 Tower, Worli.
- Accore Novotel Hotel, HCC Lavassa.
- Oberoi International School, Mumbai.
- Marriot Hotel, Pacifica Group, Ahmedabad.
Management Team:
- Mr.Rajendra Chitbahal Vishwakarma (Designation: Managing Director)
- Mr.Mahendra Chitbahal Vishwakarma (Designation: Whole-time Director)
- Mr.Mahesh Kumar Ranchhoddas (Designation: Executive Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr. Rajendra Chitbahal Vishwakarma | 14,00,000 | 0.13 |
| Mr. Mahendra Chitbahal Vishwakarma | 14,00,000 | 0.13 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake |
|---|---|---|
| Promoters | ||
| Mr. Rajendra Chitbahal Vishwakarma | 28 | 20.55 |
| Mr. Mahendra Chitbahal Vishwakarma | 28 | 20.55 |
| Promoters Group Entities | 44 | 32.3 |
| Total | 100% | 73.40% |
Peer Group Companies:
- We believe that there are no listed companies in India which are solely engaged in same type of business like Omfurn India Ltd. Hence a strict comparison is not possible.
Positives for the Company:
- Experienced Management Team.
- Presitigous Client List.
- Track record of about of two decades indicates our company’s ability to survive business cycle.
- Established manufacturing facility.
- Company is undertaking expansion to manufacture of door frames and shutters predominantly for real estate sector.
- Company is consistently growing its Revenues & Net Profit.(Note:In FY 17 the revenues declined because of the demonetisation effect. )
Objectives of the Issue:
- To part finance the expansion project.
- General Corporate Purposes.
- Issue Expenses.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Expansion Project | 2.5 |
| General Corporate Purposes | 1.04 |
| Issue Expenses | 0.62 |
| Net Proceeds | 4.16 cr |
| Check IPO Allotment Status: |
|---|
Bigshare Websitehttp://www.bigshareonline.com/bssipoapplicationstatus.aspx |
Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 |
|---|---|---|---|---|---|
| Revenue | 22.52 | 19.75 | 38.66 | 43.87 | 28.19 |
| Net Profit | 0.98 | 1.13 | 1.95 | 2.83 | 2.37 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 29th September 2017 |
| Issue Closes on:. | 5th October 2017 |
| Issue Price | Rs.23 |
| Face Value | Rs.10 |
| Minimum Lot | 6000 |
| Minimum Investment | Rs.1,38,000 |
| Issue Constitutes | 26.60% |
| Issue Size | Rs.4.16 cr |
| Market Cap | Rs.15.66 cr |
| Listing at | NSE SME |
| Equity Shares Offered | 18,12,000 |
| Equity Shares Prior | 50,00,000 |
| Equity Shares after the issue | 68,12,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.22 | 7.14 | 10.31% | 31.21 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 20% |
