About the Company:
Sai Swami Metals and Alloys Ltd is actively involved in the trading and marketing of a comprehensive array of stainless steel products, addressing the diverse needs of discerning customers.
Company’s product line is specifically designed to encompass a wide range of kitchenware, including Dinner Sets, S.S. Casseroles, S.S. Multi Kadai, S.S. Water Bottles, Stainless Steel Sheets, Stainless Steel Circles, and various types of utensils.
Company is also engaged in trading of basic raw material like S.S. Patta, S.S. Sheet, S.S. Coil, S.S. Scrap, S.S. Pipe, M.S. Round (Mild Steel Round) and M.S. beam and so on for various customers.
Company manufactures high-quality stainless steel kitchenware that spans a wide spectrum of categories. With a focus on innovation and quality, company’s offerings are crafted to meet the unique preferences and requirements of diverse customer base.
Company has a product portfolio boasts 3 Categories consisting Cook wears, Kitchenwear and Cutery over 1,200 with different model.
Company and its two subsidiaries:
Company has two subsidiaries i.e. Bhagat Marketing Private Limited and Dhruvish Metals LLP are specializes in the trading and marketing of stainless steel kitchenware products through the distinguished brand “DOLPHIN.”
Employing an outsourcing model, the business collaborates with Dhruvish Metals LLP, a subsidiary company of Sai Swami Metals and Alloys Limited, to source complete kitchenware products. Dhruvish Metals manufactures all kitchenware products, including comprehensive packaging, which is then sent to Sai Swami for further sales and distribution.
This end-to-end approach underscores the commitment to delivering high-quality products to customers, emphasizing a streamlined and quality-centric production process through the strategic integration of subsidiary company. The synergy between Sai Swami and Dhruvish Metals ensures efficiency and excellence, strengthening the brand’s market positioning.
Company’s Distribution Network:
As of 31st December, 2023, Company is well connected with 6 Distributors and more than 150 sub-dealers/stockiest/retailers and strategic alliances located in the state of Gujarat, Madhya Pradesh, Delhi and Maharashtra.
Further, the Subsidiary Company i.e. Bhagat Marketing Private Limited is approved vendor of various retail chains such as Reliance Retails Limited, Star Bazar through registered dealers and also working directly with DMART for the sale of products from several of their retail outlets in India.
Further, products manufactured by our another Subsidiary i.e. Dhruvish Metals LLP are sold online through e-commerce platforms such as Flipkart India Private Limited, Jiomart, Bigbasket and Amazon Seller Services Private Limited.
Continue to strengthen the existing product portfolio and to add more products.
Company’s product portfolio under the brand “Dolphin” consists of four categories – S.S. Dinner Sets, Tri-ply S.S cookware and cooktops, Masala Dabba, S.S. Water Bottles and other products. We have consistently focused on expanding and optimizing our product range to offer utility, a range of features and value for money.
Competition in the Business:
The Indian kitchen solutions and appliances market is highly competitive. Company faces competition from various domestic and multinational companies in India.
Amongst listed players, Company’s major competitors in the cookware, cooktops and small kitchen appliances segments include TTK Prestige Ltd, Hawkins Cookers Ltd, Butterfly Gandhimati Appliances
Ltd.
Amongst unlisted companies, Company’s major competitors include Preethi Kitchen Appliances Pvt Ltd, Franke Faber Pvt Ltd and Sunflame Enterprises Pvt Ltd. Additionally, company face competition from a number of regional, unorganized manufacturers and retailers.
Management Team:
- Mr. Nipun Anantlal Bhagat (Designation: Chairman and Managing Director)
- Ms. Kashmira Dhirajbhai Mehta (Designation: Whole-Time Director)
Objectives of the Issue:
Fresh Issue: (Rs.15 cr)
- To Meet Incremental Working Capital Requirements.
- To Invest in Subsidiary Company.
- To Purchase of Machineries.
- General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| To Meet Incremental Working Capital Requirements. | 6.0 cr |
| To Invest in Subsidiary Company | 4.0 cr |
| To Purchase of Machineries. | 2.0 cr |
| General Corporate Purpose. | 2.0 cr |
| Net Proceeds | 14.0 cr |
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 31st Dec 23 |
|---|---|---|---|---|
| Revenue | 7.50 | 8.84 | 6.26 | 33.33 |
| Net Profit | 0.04 | 0.52 | 0.038 | 1.79 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Sai Swami Metals and Alloys Ltd |
10 | 5.29 | 11.34 | 27.02% | 19.57 |
| TTK Prestige Ltd | 1 | 12.25 | 60.51 | 8.24% | 152.25 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 30th April 2024 |
| Issue Closes on | 3rd May 2024 |
| Issue Price | Rs.60 |
| Face Value | Rs. 10 |
| Minimum Lot | 2000 Shares |
| Minimum Investment | Rs.1,20,000 |
| Issue Constitutes | 37.77 % |
| Issue Size | Rs. 15 cr |
| Market Cap | Rs.39.70 cr |
| Listing at | BSE SME |
| Equity Shares Offered (Fresh) | 25,00,000 (Rs.15 cr) |
| Equity Shares Prior to the Issue | 41,17,710 |
| Equity Shares after the Issue | 66,17,710 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 6th May 2024 |
| Initiation of Refunds | on or Before 7th May 2024 |
| Credit of Equity Shares: | on or Before 7th May 2024 |
| Listing Date: | on or Before 8th May 2024 |
| Should You Subscribe or Not ? (Markets Guruji’s View) |
|---|
| Sai Swami Metals and Alloys Ltd stands as a stalwart in the stainless steel trading and marketing sector, offering a diverse range of products tailored to meet the discerning needs of customers. From kitchenware essentials like Dinner Sets, S.S. Casseroles, and S.S. Water Bottles to industrial necessities like Stainless Steel Sheets and Circles, the company ensures comprehensive solutions. Moreover, its involvement in trading raw materials such as S.S. Patta, S.S. Coil, and M.S. Round further strengthens its position in the market.
However, navigating a highly competitive industry has led to fluctuations in the company’s financials. Thus, potential investors may exercise caution and opt to observe the company’s performance over a few quarters before considering investment. By analyzing how the company strategizes and executes its business plans, investors can make informed decisions regarding the timing and feasibility of investing in Sai Swami Metals and Alloys Ltd. |
| Company Contact Info: |
|---|
| Sai Swami Metals and Alloys Ltd 05, Harekrishana Industrial Estate Bakrol, Ahmedabad, Daskroi, Gujarat – 382430 Telephone: +91 99099 70863 Email: cs@saiswamimetals.com; Website: www.saiswamimetals.com |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED Address: Office No. S6 – 2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri – East, Mumbai – 400093, Maharashtra, India; Tel. Number: +91 22 6263 8200; Email Id: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| SWASTIKA INVESTMART LIMITED Registered Office: Flat No18 Floor 2 North Wing Madhaveshwar Coop Hsg Society Ltd Madhav Nagar, 11/12 S V Road Andheri W Mumbai Mumbai City – 400058 (Maharashtra). Telephone Number: +91-22-26254568-69 Email Id: merchantbanking@swastika.co.in Website: www.swastika.co.in |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment |
| Find the List of Upcoming IPOs in India: |
|---|
Upcoming IPOs in India (Click on the below Link)https://www.marketsguruji.com/upcoming-ipos-in-india/ |
