About the Company:
Milton Industries Limited is an ISO 9001:2008 certified company and engaged in manufacturing of Laminates, Artificial Leather cloth and Glass Fibre Reinforced Epoxy (GFRE) Sheets in the state of Gujarat.
Company is a manufacturer and exporter of premium quality high-pressure laminates, industrial Laminates, laminated board, flooring laminates, artificial Leather cloth,GFRE Sheets and other allied products.
Company manufactures superior quality laminates which are used on walls, doors, windows, cupboards, tabletops, hotels, cash counters, home kitchen, etc.
Initially Company was engaged in manufacturing of laminates and further they diversified into manufacturing and exports of Artificial Leather cloth and GFRE Sheets.
Company’s products are approved by the Railway board as well as all coach manufacturing units in India.
Company also produces PVC Coated Fabrics which is also known as Rexins Upholstery Cloth. Basically
They are selling PVC Coated Fabrics to Government Agencies, such as Indian Railways, State Transport Corporation of Different States and they are also exporting to different countries.
Company’s manufacturing facilities is situated in Gujarat and distributed in two units having different activities of Production, viz:
Unit I : This unit produces Decorative & Industrial Laminates ,called High Pressure Laminates from the year 1986.
Unit-II : This unit produces PVC Coated Fabrics which is also known as Rexins Upholstery Cloth.
They are registered Supplier as Grade-1 supplier to Indian Railways and subsequent portion of their sales is from Indian Railways.
Management Team:
- Mr.Vijay Pal Jain (Designation:Chairman and Managing Director)
- Mr.Ajay Mahipal SinghJain (Designation: Non-Executive Director)
- Mr.AbhaykumarMahipalsingh Jain (Designation: Whole Time Director)
Promoters Average Acquisition Cost:
| Name of the Promoter | No. of Shares held | Average Acquisition Cost (in Rs.) |
|---|---|---|
| Mr.Vijay Pal Jain | 610709 | 5.64 |
| Mr. Ajay Mahipal SinghJain | 773627 | 6.46 |
| Mr. Abhaykumar Mahipal singh Jain | 634977 | 8.78 |
| Mr. Vikas Jain | 979551 | 3.96 |
| Mr. Saket Jain | 361107 | 12.28 |
Promoters Stake Pre & Post Issue:
| Shareholder Name | Pre Issue Stake (%) | Post Issue Stake |
|---|---|---|
| Promoter | ||
| Vijay Pal Jain | 5.43 | 3.95 |
| Ajay Mahipal Singh Jain | 6.88 | 5.01 |
| Abhaykumar Mahipalsingh Jain | 5.64 | 4.11 |
| Vikas Jain | 8.71 | 6.34 |
| Saket Jain | 3.21 | 2.34 |
| Promoter Group Entities | 39.65 | 28.87 |
| Total | 69.52% | 50.62% |
Objectives of the Issue:
- To Meet Working Capital Requirement
- General Corporate Purpose
- To Meet the Issue Expenses
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Working Capital requirements | 13.00 |
| General Corporate Expenses | 0.905 |
| Public Issue Expenses | 0.37 |
| Net Proceeds | 14.28 |
| 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 | 46.55 | 45.46 | 42.58 | 42.03 | 43.63 |
| Net Profit | 0.86 | 0.74 | 0.62 | 0.22 | 1.15 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW (%) | NAV |
|---|---|---|---|---|---|
| Greenlam Industries | 5 | 17.80 | 52.50 | 16.40 | 125.60 |
| Century Plyboards (India) Ltd | 1 | 8.40 | 34.00 | 36.8 | 31.90 |
| Ambition Mica Ltd | 10 | 1.60 | 35.60 | 17.60 | 12.20 |
| Rushil Décor Ltd | 10 | 17.00 | 49.10 | 9.30 | 72.90 |
| Milton Industries Limited | 10 | 1.03 | 33.14 | 8.65 | 26.69 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 29th September 2017 |
| Issue Closes on:. | 6th October 2017 |
| Issue Price | Rs.34 |
| Face Value | Rs.10 |
| Minimum Lot | 4000 |
| Minimum Investment | Rs.1,36,000 |
| Issue Constitutes | 27.18% |
| Issue Size | Rs.14.28 cr |
| Market Cap | Rs.52.53 cr |
| Listing at | NSE SME |
| Equity Shares Offered | 42,00,000 |
| Equity Shares Prior | 1,12,50,000 |
| Equity Shares after the issue | 1,54,50,000 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 1.03 | 33.14 | 8.65% | 26.69 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Avoid | NA | NA |
