About the Company:
Shree Tirupati Balajee Agro Trading Company Ltd is engaged in the business of manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs) i.e. large flexible bags and other industrial packaging products such as woven sacks, woven fabric and narrow fabric, tapes in the Indian domestic market and overseas.
Company offers customised products and cater to the bulk packaging solutions of our clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying them our FIBC products for transportation purposes and their packaging requirement.
Company offers an alternative for packaging and transportation, streamlining the loading and unloading processes of vessels, containers, or trucks, thereby reducing labor requirements.
Company offers a wide range of packaging solutions to our clients since we manufacture veriety of FIBC bags, woven bags and container liners etc.
Company manufactures FIBC bags for packaging all possible products including, food products, chemicals, minings etc.
Company has established our services for more than 20 (twenty) years and operate out of five (5) manufacturing units.
Company operates and manages the business through following subsidiaries:
- Honourable Packaging Private Limited (HPPL).
- Shree Tirupati Balajee FIBC Limited (STBFL).
- Jagannath Plastics Private Limited (JPPL).
Key Operational Parameters for the Company:
Company’s Revenue from Various Products: (in Lakhs)
Company’s Manufacturing Facility:
Company owns and operates five (5) Manufacturing Facilities strategically located at Indore (Madhya Pradesh). The location of our units is in proximity to Mumbai, Maharastra and major industrial zones having good connectivity to ports, airports, and highways, which enhances our capability of supplying our products in time and on a cost-effective basis to our clients.
Company’s Exports:
Company exports its products to over 38 countries across six continents, with major export destinations including USA, Germany, Australia, UK, Singapore, Canada, France, New Zealand, Chile, Sweden, Switzerland, Spain and Malaysia.
Company’s Geographical Revenue breakup: (in Lakhs)
Management Team:
- Mr. Binod Kumar Agarwal (Designation: Managing Director)
- Mr. Ranjan Kumar Mohapatra (Designation: Non-Executive Director)
Objectives of the Issue:
Offer For Sale: (Rs.47.23 cr)
- Company will not receive any proceeds from the Offer for Sale. The Selling Shareholders will be entitled to their respective portion of proceeds of the Offer for Sale.
Fresh Issue (Rs.122.42 cr)
- Repayment and/or prepayment, in part or full, of certain of our outstanding borrowings availed by our Company.
- Investment in our subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or full, of certain of outstanding borrowings availed.
- Funding the incremental working capital requirements of our Company.
- Investment in our subsidiaries HPPL, STBFL and JPPL for funding working capital requirements.
- General corporate purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Repayment and/or prepayment, in part or full, of certain of our outstanding borrowings availed by our Company. | 31.45 cr |
| Investment in our subsidiaries HPPL, STBFL and JPPL for Repayment and/or prepayment, in part or full, of certain of outstanding borrowings availed | 20.8 cr |
| Funding incremental working capital requirements of our Company | 13.50 cr |
| Investment in our subsidiaries HPPL, STBFL and JPPL for funding working capital requirements. | 10.74 cr |
Positives for the Company:
Company has a Diverse Customer base.
- Over the years, Company has nurtured relationships with clients across various industries, consistently providing them with our product offerings. Company maintains relationships with many clients, and their repeat business provides us with an understanding of future revenues and a stable client base.
- Company’s product portfolio comprises of industrial and consumer packaging solutions, lifestyle products, automotive components, healthcare products and construction related products etc.
- The diverse product range of products allows our customers to source most of their product requirement from a single vendor and enables us to expand our business from existing customers, as well as address a larger base of potential new customers.
Multi- Product Portfolio.
- Company offers a wide range of packaging solutions to our clients since we manufacture variety of FIBC bags for packaging all possible products including, food products, chemicals, minings etc. Company’s products are logistic solutions for diverse industry and the success of our business does not depend upon a few sectors.
Rapid pace of industrialization worldwide.
- One of the primary drivers of growth in this industry is the rapid pace of industrialization worldwide. FIBCs are increasingly being adopted by manufacturers in the chemical and agriculture sectors for the transportation of various commodities, including grains, rice, potatoes, cereals, and liquid chemicals.
- Additionally, these bags are used to store and transport construction supplies such as carbon black, steel, alloys, minerals, cement, and sand. Moreover, the FIBC market is expanding due to growing environmental concerns and the rising demand for lightweight, biodegradable bulk packaging materials, particularly in the pharmaceutical sector.
- Pharmaceutical-grade FIBCs play a crucial role in the storage and prevention of contamination for a wide range of medical products. Innovations in product development, such as the introduction of FIBC variations designed for hygienic packaging solutions, are further contributing to the industry’s growth
Financials of the Company:
| (in Crores) | FY 22 | FY 23 | FY 24 |
|---|---|---|---|
| Revenue | 453.8 | 478.13 | 552.82 |
| Net Profit | 13.65 | 20.71 | 36.07 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Shree Tirupati Balajee Agro Trading Company Ltd | 10 | 5.74 | 14.45 | 20.84% | 27.54 |
| Commercial Syn Bags Ltd | 10 | 1.81 | 37.13 | 5.66% | 32.02 |
| Emmbi Industries Ltd | 10 | 5.62 | 22.07 | 5.85% | 96.17 |
| Rishi Techtex Ltd | 10 | 1.82 | 33.01 | 4.23% | 43.09 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 5th September 2024 |
| Issue Closes on | 9th September 2024 |
| Issue Price | Rs.78 -83 |
| Face Value | Rs.10 |
| Retail Category Allocation | 35 % |
| Minimum Lot | 180 Shares |
| Minimum Investment | Rs.14,940 |
| Issue Constitutes | 25.05 % |
| Issue Size | Rs.169.65 cr ($ 20 million ) |
| Market Cap | Rs.677 cr ($ 80 million) |
| Listing at | NSE & BSE |
| Equity Shares Offered (Fresh) | 1,47,50,000 (Rs.122.42 cr) |
| Equity Shares Offered (OFS) | 56,90,000 (Rs.47.23 cr) |
| Total Equity Shares Offered (Fresh + OFS) | 2,04,40,000 (Rs.169.55 cr) |
| Equity Shares Prior to the Issue | 6,68,20,852 |
| Equity Shares after the Issue | 8,15,70,852 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 5.74 | 14.45 | 20.84% | 27.54 |
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Shree Tirupati Balajee Agro Trading Company Ltd specializes in the manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs), which are large flexible bags used for industrial packaging. In addition to FIBCs, the company produces woven sacks, woven fabric, narrow fabric, and tapes. Company caters to both the Indian domestic market and international clients, providing customized bulk packaging solutions. The company serves diverse industries such as chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil, addressing their transportation and packaging needs. A key growth driver for Shree Tirupati Balajee Agro is the rapid pace of global industrialization. FIBCs are becoming more widely adopted by manufacturers in the chemical and agricultural sectors for transporting commodities like grains, rice, cereals, and liquid chemicals. This trend positions the company favorably for future growth. With a focus on meeting the expanding demand for bulk packaging, the company’s upcoming IPO presents a potential opportunity for investors to capitalize on this growth. Interested investors should consider applying in this IPO. |
Important Dates:
| Finalization of Basis of Allotment | on or Before 10th September 2024 |
| Initiation of Refunds | on or Before 11th September 2024 |
| Credit of Equity Shares: | on or Before 11th September 2024 |
| Listing Date: | on or Before 12th September 2024 |
| Company Contact Info: |
|---|
| Shree Tirupati Balajee Agro Trading Company Ltd Plot No.192, Sector 1, Pithampur, Dhar – 454 775, Madhya Pradesh, India. Telephone : +91 731-4217400 Email: info@tirupatibalajee.net Website: www.tirupatibalajee.net |
| Registrar to the Issue: |
|---|
| LINK INTIME INDIA PRIVATE LIMITED C-101, 247 Park, L.B.S Marg, Vikhroli West, Mumbai-400083, Maharashtra, India Telephone: +91 8108114949 Email: shreetirupatibalajee.ipo@linkintime.co.in Website: www.linkintime.co.in |
