About the Company:
Parin Furniture is a provider of wide and exclusive range of furniture and lifestyle products for several consumers.
Company’s product portfolio offers diversified product range which includes variety of furniture like home furniture, office furniture, hospital furniture, institutional furniture and education furniture.
Company’s business network is spread in 18 States and have COCO (Company Owned Company Operated) Flagship Retail Stores and around 900 dealers associated with the Company.
Company has also created spacious, specially designed showrooms for display of their various products like home furniture, office furniture, hospital furniture, institutional furniture etc.
The furniture manufactured by the Company is marketed under brand name “Parin“.
Company’s Major Furniture Verticals include:
- Home Furniture & Decor.
- Office Furniture.
- Hospital Furniture.
- Institutional Furniture.
- Education Furniture.
Company’s Showrooms & Warehouses:
Company has entered into five (05) lease agreements and six (06) leave and license agreements have been entered into by the Company for the purpose of setting up showrooms and warehouses of the Company at Rajkot (2), Ahmedabad (3), Surat (1), Kolkata (1) and Bhiwandi (4).
Company’s Marketing Strategy for Product Sales:
Projects – Government & Private.
Company engages with various various corporate and government authorities to generate regular orders from various business segments. They are also actively participating through online & offline tenders.
B2B (Business to Business):
Company provides complete support to the dealers in developing their business with launching new products, unique business ideas, training & development, reporting systems.
Retail Business:
The retail business is generated from COCO (Company Owned Company Operated) retail stores. Company either enter into leases with property owners or enter into franchise agreements with third parties for our exclusive brand outlets.
E- Commerce:
Company also sell their products through online retailers and have formed a strategic business alliance with giant online retailers like Flipkart & Pepperfry as they will be selling our products through online portals.
Awards, Recognition Received by the Company:
- Company was awarded with Excellent Achievement Award by Ahmedabad Furniture Association in 2017.
- Company was awarded Saurashtra Ratna for contribution in Home & Office Décor by CNBC Awaz in 2017.
Management Team:
- Mr. Umesh Dhirajlal Nandani (Designation: Chairman & Managing Director)
- Mr. Parin Umeshbhai Nandani (Designation: Non-Executive Director)
- Mr. Deven Dipesh Nandani (Designation: Non-Executive Director)
Objectives of the Issue:
- Repayment of certain Secured Borrowing availed by the Company.
- Funding the Working Capital Requirements of the Company.
- General Corporate Expenses.
- Issue Expenses
Financials of the Company:
| (in Crores) | FY 14 | FY 15 | FY 16 | FY 17 | FY 18 |
|---|---|---|---|---|---|
| Revenue | 30.02 | 28.75 | 61.78 | 59.94 | 64.59 |
| Net Profit | 0.60 | 0.27 | 1.01 | 1.35 | 2.61 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Parin Furniture Limited | 10 | 6.33 | 9.95 | 25.02% | 20.52 |
| Nilkamal Limited | 10 | 82.11 | 20.47 | 17.40% | 497.19 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 26th September 2018 |
| Issue Closes on:. | 28th September 2018 |
| Issue Price | Rs.60- 63 |
| Face Value | Rs.10 |
| Minimum Lot | 2000 shares |
| Minimum Investment | Rs.1,26,000 |
| Issue Constitutes | 31.88% |
| Issue Size | Rs.23.94 cr |
| Market Cap | Rs.75.08 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 38,00,000 |
| Equity Shares Prior to the Issue | 81,18,000 |
| Equity Shares after the Issue | 1,19,18,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 6.33 | 9.95 | 25.02% | 20.52 |
| Check IPO Allotment Status: |
|---|
Karvy Website (Click on the below Link)http://kosmic.karvy.com:81/ipotrack/ |
Knowledge Corner: (Click on the Link)
| Company Contact Info: |
|---|
| Parin Furniture Ltd Plot No. 6, Revenue Survey No. 149, National Highway, AT. Vavdi, Gondal Road, Rajkot, Gujarat – 360 004, India Tel. No. +91-281-3300777 Fax No. +91-281-3063000 E-Mail: info@parinfurniture.com Website: www.parinfurniture.com |
| IPO Registrar Info: |
|---|
| KARVY COMPUTERSHARE PRIVATE LIMITED Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500 032 India. Tel.:- +91 40 6716 2222 Fax.:- +91 40 2343 1551 Investor Email: parinfurniture.ipo@karvy.com Website: www.karisma.karvy.com |
| Lead Manager to the Issue: |
|---|
| HEM SECURITIES LIMITED 904, Naman Midtown, A wing, Senapati Bapat Marg, Elphinstone Rd. Lower Parel, Mumbai-400013 Tel: +91 22 49060000 Fax: +91 22 22625991 Email: ib@hemsecurities.com Website: www.hemsecurities.com |
