Sorich Foils Ltd

Sorich FoilsAbout the Company:

Sorich Foils Ltd (Established in the year 2011) is an ISO 9001: 2015 certified company engaged in manufacturing and supplying a varied range of Aluminium Foils for Blister, Strip Foils, Cold Forming Foil, Child Resistant (CR) Foils, Aluminium Lid Foils, Flexible Packaging for Pharma & Food Industries, also FMCG packaging materials.

These products are widely applicable in different industries such as Pharmaceutical Industries, FMCG packaging, Food and dairy industries, Confectionery / Chocolate industries & Personal Care Packaging.

Company manufactures various range of products as per the demand of customers and undertakes designing & supply of customized packing materials.

Company’s Key Clients:

  • Zydus Cadila.
  • Themis Medicare.
  • Indoco Remedies.
  • Incepta.
  • Ajanta Pharma Ltd


Various uses of the Products Manufactured by the Company.

Printed & Plain Aluminium Foil: (It is globally used in pharmaceutical companies for Tablet & Capsule in “PushThrough” packaging.)

Blister Pack: (It is globally used in pharmaceutical companies for Tablet & Capsule packaging.)

Child Resistance Foils: (This product is used in US & Europe to pack Generic Medicines.)

Strip Pack: (It is used in pharmaceutical industry for high moisture sensitive tablet & Capsules packaging.)

Lid Aluminium Foil: (They are used as temporary lids for the use-n-throw food product containers.)


Revenue break-up from selling product to Pharma Companies & Non-Pharma Companies.

revenue breakup


Product-wise revenue details. 

product wise revenue breakup

Management Team:

  1. Mr. Chandrahas Kotian (Designation: Managing Director & CEO)
  2. Mr. Rajkumar Mishra (Designation: Non Executive Director)
  3. Ms. Priya Kotian (Designation: Non – executive Director)


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake (%)
Chandrahas B. Kotian 47.11 32.98
Promoter Group Entities             15.39              10.77
Total 62.50% 43.75%


Objectives of the Issue:

  • Part Repayment / prepayment of Unsecured Loans availed by our Company.
  • General corporate purposes.


Fund Utilization:

Particulars Amount (Rs. in Crores)
Part Repayment / prepayment of unsecured loan availed by the Company                 3.0
General Corporate Expenses                 0.5
Net Proceeds 3.5 cr


Positives for the Company:

Focus on Pharma Sector.

Around 51.91% of their Income is contributed by the Pharma business. The margins in Pharma business are comparatively better than the non-Pharma business. Moreover the Pharma industry is expected to do much better in near future resulting in further improvement in prospects of Pharma packaging industry.

Introduction of new Printing Machines.

Company intends to replace all existing old machineries with new machineries gradually in near future. Management believes that addition of new machineries will result in overall operational efficiencies and will increase their business in pharma segment.


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 31st Jan 18
Revenue 19.63 22.85 25.06 26.89 26.59 23.13
Net Profit 0.24 0.20 0.22 0.18 0.32 0.57


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Sorich Foils Limited 10 3.29 4.87 11.22% 29.28
Sysco Industries Ltd 10 7.13 6.61 17.14% 41.59
PG Foils Limited 10 22.36 7.90 14.73% 151.58


IPO Details:

Details Info
Issue Opens on 24th May 2018
Issue Closes on:. 28th May 2018
Issue Price Rs.16
Face Value Rs.10
Minimum Lot 8000
Minimum Investment Rs.1,28,000
Issue Constitutes 30.00%
Issue Size Rs.4.0 cr
Market Cap Rs.13.33 cr
Listing at NSE SME
Equity Shares Offered (Fresh) 25,00,000
Equity Shares Prior to the Issue 58,33,334
Equity Shares after the Issue 83,33,334


Important Dates:

Finalization of Basis of Allotment on or Before 31st May 2018
Initiation of Refunds on or Before 1st June 2018
Credit of Equity Shares: on or Before 1st June 2018
Listing Date: on or Before 5th June 2018


Subscription Details: (Will be Updated)

(Subscription-Category-Wise (no. of times) Till time : 06:00 PM) Shares Offered 24/5 Day-2 Day-3 Day-4
HNI 11,50,000 0.23
Retail 11,50,000 0.076
Others  2,00,000  0.00
Employee ——— —–
TOTAL 25,00,000 0.14


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
3.29 4.87 11.22 29.28


Check IPO Allotment Status:

Link InTime Website (Click on the below Link)


Company Contact Info:
Sorich Foils Limited
Plot No. 4802/1, Plastic Zone
GIDC, Sarigam-396155,
Tal: Umberagaon,
Dist: Valsad, Gujarat, India.
Telephone: 91 260 2780670;
E – mail:


IPO Registrar Info:
C 101, 247 Park,
L.B.S.Marg, Vikhroli (West),
Mumbai – 400083;
Tel No.: +91 22 4918 6200;
Fax No.: +91 22 4918 6195;
Investor Id:


Lead Manager to the Issue:
605, 6th floor, Centre Point,
Andheri Kurla Road, J.B. Nagar, Andheri (East)
Mumbai – 400 059, Maharashtra, India.
Telephone: +91 22 4082 0914;
Investor grievance: