About the Company:
Shree Tirupati Balajee FIBC Limited is engaged in manufacturing and supply of High Density Polyethylene Polypropylene woven sacks, Flexible Intermediate Bulk Container and Container Liners.
The manufacturing unit of the Company is situated at SEZ area located at Pithampur, District Dhar, Madhya Pradesh.
Company’s manufacturing facility meets the requirements set out in BRC Global Standard for Packing and Packaging Materials and has achieved Grade A by Intertek Certification Limited.
Company is an ISO 22000: 2005, ISO 9001: 2008 certified Company.
Product range includes FIBCs / Big Bags,Woven polypropylene bags,Woven Fabric,Container Liners
Company procures the raw materials by the Group Company, Shree Tirupati Balajee Agro Trading Private Limited thereby decreasing their dependency on third party suppliers.
Company’s customer base is spread across the globe with presence in countries like United States of America, United Kingdom, Australia, Germany, Italy, Spain, New Zealand etc. The majority of company’s sales are through direct exports which contributed 97.17% of the revenue in FY 2017.
The offer solutions for various technical issues which the customers face in using FIBCs. Company also helps and designs customized FIBCs, by offering complete range of FIBC for packaging all products including, food products, chemicals, liquids, etc.
This enables them customers to improve performance and to reduce the cost. Company’s ability to offer complete range of FIBCs helps them in retaining the customers and also helps them in getting price advantage over other suppliers.
Objectives of the Issue:
- Working capital requirements of the Company.
- General corporate purposes.
- Listing Benefits.
Management Team:
- Name: Ranjan Kumar Mohapatra (Designation: Joint Managing Director)
- Name: Binod Kumar Agarwal (Designation:Chairman & Joint Managing Director)
- Name: Sunita Agrawal (Designation: Non Executive Director)
TOP 10 Shareholders:
| Sr.No. | Shareholder Name | Number of Equity Shares held | Percentage of Equity Share Capital % |
|---|---|---|---|
| 1. | Suhana Tradelink Pvt ltd | 28,03,536 | 37.73 |
| 2. | Nageshwar Vinimay Pvt ltd | 13,95,000 | 18.78 |
| 3. | Anant Trexim Pvt ltd | 9,00,000 | 12.11 |
| 4. | Jagannath Plastics Pvt ltd | 9,00,000 | 12.11 |
| 5. | Sky Logistics Pvt ltd | 9,00,000 | 12.11 |
| 6. | Binod Kumar Agarwal | 2,40,000 | 3.23 |
| 7. | Sakul Grover | 1,00,332 | 1.35 |
| 8. | Ranjan Kumar Mohapatra | 60,000 | 0.81 |
| 9. | Sunita Agrawal | 51,504 | 0.69 |
| 10. | Anant Agarwal | 47,124 | 0.63 |
| Total | 74,30,040 | 100% |
Positives of the Company.
- Experienced Management Team.
- Presence in international markets.
- Large Customer base (more than 5000)
- Quality certifications(which gives them added advantage over their competitors in securing international orders).
- End to End Solutions in FIBC packaging solutions.
- Planning to add new product range.
- Planning Backward integration.(will reduce cost & increase profit margins)
- Enhancing the installed capacity from 6,000 mt p.a to 7,500 mt pa.
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Financials of the Company:
| (in Crores) | FY 13 | FY 14 | FY 15 | FY 16 | FY 17 |
|---|---|---|---|---|---|
| Revenue | 23.42 | 40.43 | 54.13 | 62.08 | 69.80 |
| Net Profit | 0.44 | 2.24 | 2.44 | 3.38 | 2.87 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 21st September 2017 |
| Isue Closes on:. | 26th September 2017 |
| Issue Price | Rs.36 – 40 |
| Face Value | Rs.10 |
| Minimum Lot | 3000 |
| Minimum Investment | Rs.1,20,000 |
| Issue Constitutes | 26.65% |
| Issue Size | Rs.10.8 cr |
| Market Cap | Rs.40.52 cr |
| Listing at | NSE SME |
| Equity Shares Offered | 27,00,000 |
| Equity Shares Prior | 74,30,040 |
| Equity Shares after the issue | 1,01,30,040 |
Important Dates:
| Finalization of Basis of Alottment | on or Before 29th September 2017 |
| Initiation of Refunds | on or Before 3rd October 2017 |
| Credit of Equity Shares: | on or Before 3rd October 2017 |
| Listing Date: | on or Before 5th October 2017 |
IPO Valuation parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 3.86 | 10.36 | 16.45% | 23.49 |
Markets Guruji Opinion:
| IPO View | Apply For: | Expected listing Gain: |
|---|---|---|
| Subscribe | Long Term | 25% |
