About the Company:
Premium Plast Ltd a tier-1 (tier-1 companies are companies that directly supply to original equipment manufacturers (“OEMs”)) automotive component group. We design, manufacture and supply, exterior plastic components, interior cabin components, under the hood components to commercial vehicle OEMs directly.
Company is an IATF-16949, ISO 9001:2015, and ISO 14001:2004 specialised plastic injection and blow mould components manufacturer.
Company manufactures wide variety of injection and blow moulded plastic articles for a broad group of industries and applications.
Company’s products broadly include automotive parts, plastic industrial components and packaging components, which cater to a diverse range of industries.
Company specialise in manufacturing of automotive parts and have manufactured over 600 components across three facilities strategically located in India. Company use blow moulding and injection moulding technologies for manufacturing our products.
Company’s Product verticals include the following:
- Automotive Components.
- Industrial Plastic Parts.
- Molded Industrial Packaging.
Automotive Components: In the automotive manufacturing sector, Company manufactures various types of components using injection and blow moulding techniques. Company manufacturers the following components for various automobile manufacturers:
Exterior Automotive Components: Company manufactures various types of exterior automotive components such as fenders, grills, bumpers, door panels, floor rails, light covers, and more mainly used in commercial vehicle and tractors segment. Splash guards are a good example of the durability of injection molded parts.
Company manufactures exterior automotive components, as per the requirements of our customers.
Interior Components: Company also manufacturers various automotive interior components, including but not limited to, instrument assemblies, interior instrument panel assemblies and its child parts , dashboard panels, door handles, glove boxes, vents, etc.
Steering Wheel and Other Components: Company also manufactures steering wheels and injection moulded steering wheels, mainly used in commercial vehicles.
Industrial Plastic Parts: Engineering plastics, also called thermoplastic polymers, are a group of synthetic resins that offer high-performance capabilities and enhanced plastic characteristics compared to other standard plastic materials.
Company manufactures plastic components used in electrical distribution systems such as holders, covers, bushings, clamps, locators, electronic; casings such as, modem covers, snaps etc. and safety limit switches for elevators. Our Company has the ability of customising its products based on the requirement of our customers.
Molded Industrial Packaging: Injection and Blow moulding products such as specialized packaging for torque spanners and boxes for packaging ear buds. Company is a manufacturer of automotive parts, plastic industrial components and packaging components.
Company’s customers are mainly domestic and international automobile OEMs, ear buds and cotton manufacturers and industrial tool manufacturers. We manufacture automobile components for commercial vehicles of the ‘Volvo Eicher Group’.
Company is the exclusive automotive component supplier for a number of original commercial automobile manufacturers.
Company’s Reputed Customers have been provided below:
- VE Commercial Vehicles.(Volvo group and Eicher motors Joint Venture)
- TAFE.
- Raychem RPG.
- Varroc Engineering.
- ZF Steering Gear (India) Ltd
Revenue Contribution from Top Clients: (Fiscal 2024)
Company’s Revenue from Operations across Product verticals is as follows:
Company’s Expansion over the Years:
Company has repeatedly undertaken capital investment to increase its manufacturing capacity. In 2004, Company shifted to new facility from Mulund to Vasai East, Mumbai for manufacturing of automotive and packaging products.
Further, in 2013, in order to cater to the growing demand of our automotive plastic products, we started a new plant at Pithampur, Madhya Pradesh to manufacture plastic parts. Further in 2019, we started another plant at Pithampur, Madhya Pradesh for manufacturing of automotive plastic parts, to increase our manufacturing capacity to address the growing demand of our products/ customers.
Company has three (3) strategically located manufacturing units out of which two (2) are situated at Pithampur, Madhya Pradesh and the third unit is situated at Vasai, Maharashtra. The total installed capacity of our manufacturing units is 1,975 MTPA.
Capacity Installed and Capacity Utilisation:
Management Team:
- Mr. Chetan Nagendra Dave (Designation: Managing Director )
- Dr. Lopa Chetan Dave (Designation: Non-Executive Director)
Objectives of the Issue:
Fresh Issue: (Rs.26.19 cr)
- Expansion of Existing Manufacturing facility at Pithampur, Madhya Pradesh and Purchase of Machineries
- Funding of capital expenditure requirement of our Company towards Set up of Rooftop on Grid Solar Power Plant at our existing Manufacturing facility.
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.
- General Corporate Purpose.
- Offer Related Expenses.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Expansion of Existing Manufacturing facility at Pithampur, Madhya Pradesh and Purchase of Machineries | 16.55 cr |
| Funding of capital expenditure requirement of our Company towards Set up of Rooftop on Grid Solar Power Plant at our existing Manufacturing facility | 1.04 cr |
| Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company | 2.23 cr |
Financials of the Company:
| (in Crores) | FY 22 | FY 23 | FY 24 | Upto 30th June 24 |
|---|---|---|---|---|
| Revenue | 31.04 | 44.04 | 46.74 | 12.12 |
| Net Profit | 0.77 | 1.59 | 4.77 | 1.14 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Premium Plast Ltd | 10 | 3.35 | 14.62 | 13.56% | 24.7 |
| Varroc Engineering Ltd | 1 | 23.37 | 17.00 | 39.22% | 59.51 |
| Uno Minda Ltd | 2 | 10.21 | 64.80 | 21.59% | 47.28 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 21st October 2024 |
| Issue Closes on | 23rd October 2024 |
| Issue Price | Rs.46-49 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 Shares |
| Minimum Investment | Rs.1,47,000 |
| Issue Constitutes | 27.99 % |
| Issue Size | Rs.26.19 cr |
| Market Cap | Rs.93.57 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 53,46,000 (Rs.26.19 cr) |
| Equity Shares Prior to the Issue | 1,37,51,100 |
| Equity Shares after the Issue | 1,90,97,100 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 24th October 2024 |
| Initiation of Refunds | on or Before 25th October 2024 |
| Credit of Equity Shares: | on or Before 25th October 2024 |
| Listing Date: | on or Before 28th October 2024 |
| Company Contact Info: |
|---|
| Premium Plast Ltd Gala No 3, Shiv Shankar Indl Est No 1, Virar City (M Corp), Valiv, Thane, Vasai – 401 208, Maharashtra, India. Telephone: +91 025 0660 1160 E-mail: info@premiumplast.in Website: www.premiumplast.in |
| Registrar to the Issue: |
|---|
| Bigshare Services Private Limited S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai- 400 093, Maharashtra, India. Telephone: +91 226 263 8200 E-mail: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment |
