About the Company:
SP Refractories Limited is engaged in manufacturing and supplying Refractory Material made using hydrated lime, Calcined Alumina and other raw materials.
Company is engaged in manufacturing of in manufacturing, high quality Refractory Material like alumina castables, High Alumina Refractory cement, Normal insulating castables, Low Cement Castables etc.
Company’s core focus is on refractory cement which is a niche and high margin cement widely used in iron & steel and construction industries because of its thermal conductivity, Maximum strength and Heat resistance.
Company has a healthy client base due to quality product, customized solutions and large product line.
Company has clinkers manufacturing capacity of 4000 MT per year and Clinkers crushing capacity of 6000 MT per year.
Company get clinkers manufactured from outsider on job work basis and thereafter process of crushing the clinkers, blending and packing of refectory cement in powder form carries out in our manufacturing facility for excess capacity of crushing.
Further, as and when required company purchase clinkers from third party and carry out process of crushing the clinkers, blending and packing of refectory cement in powder form to utilize the excess capacity of crushing.
Company’s History:
Company began its operations in the year 2007 with manufacturing of refractory cement and castables.
Before incorporation of the company, Late Sri. Prabodh Kale, was running the established business of refractory cement in a partnership firm named Shanark Industries based out of Nagpur.
Post his demise, his wife; Namita Kale took the business activities forward under SP Refractories Limited as the promoter along with her daughters Shweta Kale and Prajakta Kale.
Refractory cement is utilized for following purposes:
- In production of castable.
- Power Plants.
- Iron Plants.
Company’s Capacity and capacity utilization:
Management Team:
- Mrs. Namita Prabodh Kale (Designation: Whole-Time Director)
- Ms. Shweta Prabodh Kale (Designation: Executive Director)
- Ms. Prajakta Prabodh Kale (Designation: Non-Executive Director)
Objectives of the Issue:
Offer for Sale: (Rs.2.24 cr)
- Each of the Selling Shareholders will be entitled to the proceeds of the Offer for Sale. Company will not receive any proceeds from the Offer for Sale.
Fresh Issue: (Rs.2.67 cr)
- Funding Working Capital Requirement.
- General Corporate Purpose.
Financials of the Company:
| (in Crores) | FY 19 | FY 20 | FY 21 | 30th Sept 21 |
|---|---|---|---|---|
| Revenue | 18.55 | 20.99 | 25.72 | 14.47 |
| Net Profit | 0.20 | 0.39 | 0.75 | 0.80 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| SP Refractories Ltd | 10 | 5.05 | 17.82 | 16.13% | 31.31 |
| IFGL Refractories Ltd | 10 | 17.44 | — | 8.02% | 155.14 |
| Rassi Refractories Ltd | 10 | 18.22 | —- | 1.40% | 53.15 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 9th March 2022 |
| Issue Closes on:. | 11th March 2022 |
| Issue Price | Rs.90 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 |
| Minimum Investment | Rs.1,44,000 |
| Issue Constitutes | 30.57% |
| Issue Size | Rs.4.92 cr |
| Market Cap | Rs.16.10 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 2,97,600 (Rs. 2.67 cr) |
| Equity Shares Offered (OFS) | 2,49,600 (Rs. 2.24 cr) |
| Total Equity Shares Offered (Fresh + OFS) | 5,47,200 (Rs. 4.92 cr) |
| Equity Shares Prior to the Issue | 14,91,900 |
| Equity Shares after the Issue | 17,89,500 |
Also Read : List of Upcoming IPO’s in India.
Also Read : List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 16th March 2022 |
| Initiation of Refunds | on or Before 17th March 2022 |
| Credit of Equity Shares: | on or Before 21st March 2022 |
| Listing Date: | on or Before 22nd March 2022 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 5.05 | 17.82 | 16.13% | 31.31 |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/AllotmentBSE IPO Website: https://www.bseindia.com/IPO/Allotment |
| Company Contact Info: |
|---|
| SP Refractories Limited M-10, M-11/1 & M-11/2, MIDC Industrial Area, Hingna Road, Nagpur – 440016. Tel No.: 07104-235388/07104-235399 Email ID:info@sprefarctories.com Website: www.sprefractories.com |
| IPO Registrar Info: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis Makwana Road, Marol, Andheri East, Mumbai – 400 059 Tel. No.: +91 22 6263 8200 Email:ipo@bigshareonline.com Website: www.bigshareonline.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 Email: ipo@afsl.co.in Website: www.afsl.co.in |
