About the Company:
Yash Optics and Lens Ltd is engaged in trading and distribution of spectacle and optical lenses which were sourced from Indian importers and traded in Mumbai.
Over the years, company has increased the product portfolio with brands like Seto, IRIS etc. and expanded the network & distribution channel in Maharashtra, Gujarat and Rajasthan.
Under the trading space, Company sources the spectacle/optical lenses and market the same under its own brands for further sale through distributors and own retail channels.
Company is primarily engaged in the business of manufacturing, trading, distribution and supplying of comprehensive range of spectacle/optical lenses.
Company is offering from single vision lenses to advanced progressive lenses, customized progressive lenses to personalized progressives for professionals along with wide range of coatings.
Company’s products are available across the entire range of price points enabling us to serve the entire gamut of customers from economy. Company manufactures the lenses based on order and prescription received from the customers.
Company’s Background:
Company had started our journey in the year 2002 with trading and supplying spectacle / optical lenses under the name of M/s Yash Optics, a proprietary firm of one of our Promoter, Mr. Chirag Manharlal Doshi.
In the year 2007 company started importing the lenses under M/s Yash Enterprises, a proprietary firm of one of our Promoter, Mr. Dharmendra M Doshi.
In the year 2012 company started manufacturing of prescription lenses under M/s Yash Lenses, a proprietary firm of one of our Promoter, Mr. Tarun Manharlal Doshi.
Exclusive distributor for Pentax” brand of Ophthalmic lenses:
Company is also appointed by HOYA Lens India Private Limited, as an exclusive distributor to sell, market and distribute the “Pentax” brand of Ophthalmic lenses in India pursuant to agreement dated October 01, 2022.
Company has a product brand portfolio of approximately 37 product brands includes “Pentax”.
Company’s Distribution Network:
Company has PAN India presence with distributors network for our domestic market.
Company follow offline distribution model for sale of our products and have distributors spread across the country who in turn sell our products through various opticians, showrooms and optical counters.
Company follows B2B and B2C models whereas in B2B model we sell our products to distributor for further sale and under B2C, we sell our products to opticians, and directly through our branch offices or sale depot.
Company is also exporting the products to East Africa, West Africa, Central Africa, United Arab Emirates, Nepal, Kuwait etc.(Around 10% of company’s revenue comes from exports)
Company’s Revenue bifurcations from manufacturing and trading activities:
Company’s Product wise revenue breakup:
Management Team:
- Mr. Tarun Manharlal Doshi (Designation: Chairman & Managing Director)
- Mr. Dharmendra M Doshi (Designation: Whole Time Director)
Objectives of the Issue:
Fresh Issue: (Rs.53.14 cr)
- Funding of Capital expenditure for setting up a manufacturing unit for backward integration.
- Purchase of Plant and Machinery at existing manufacturing unit 3.
- Repayment/ prepayment of certain borrowings availed by the company.
- Funding Working Capital Requirements of the Company.
- General corporate purposes.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Funding of Capital expenditure for setting up a manufacturing unit for backward integration | 18.25 cr |
| Purchase of Plant and Machinery at existing manufacturing unit | 11.85 cr |
| Repayment/ prepayment of certain borrowings availed by our Company | 6.0 cr |
| Funding Working Capital Requirements of our Company | 10.00 cr |
Positives for the Company:
Expansion of production capacity by way of installation of new plant and machineries at our existing manufacturing facility as well as setting up a new manufacturing unit through backward integration.
- To cater to the growing demand from existing customers and to meet requirements of new customers, company intend to expand the manufacturing capacities for existing products.
- Company intends to increase production capacity by way of installation of new plant and machineries at our existing manufacturing facility.
- Company believes that investment in this plant and machineries will add on to our current installed capacity, thus, enabling us to cater to the growing demand from our customers and add new products in our existing product portfolio.
- Further Company intends to expand its business operations by setting up a new manufacturing unit for manufacturing of plain blanks and semi-finished single vision lenses (CR-39) which is the basic raw material of manufacturing of spectacle/optical lenses.
Expansion of Geographical Markets.
- Company intend to cater to the increasing demand of existing customers and also to increase existing customer base by enhancing the reach of our products in different parts of the country.
- Company operates from Mumbai, Maharashtra in India and propose to enter into new geographies and increase our marketing and sales team which can focus on different regions and also maintain and establish relationship with customers.
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 30th Sept 23 |
|---|---|---|---|---|
| Revenue | 14.98 | 29.86 | 39.80 | 18.69 |
| Net Profit | 1.06 | 6.81 | 8.06 | 4.22 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Yash Optics & Lens Limited | 10 | 4.55 | 17.80 | 42.20% | 10.79 |
| GKB Ophthalmics Ltd | 10 | (-5.72) | N.A | (-10.47%) | 5.46 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 27th March 2024 |
| Issue Closes on | 3rd April 2024 |
| Issue Price | Rs.75- 81 |
| Face Value | Rs.10 |
| Minimum Lot | 1600 Shares |
| Minimum Investment | Rs. 1,29,600 |
| Issue Constitutes | 26.49 % |
| Issue Size | Rs.53.14 cr ($ 6.3 million ) |
| Market Cap | Rs.200 cr ($ 24 million ) |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 65,61,600 (Rs.53.14 cr) |
| Equity Shares Prior to the Issue | 1,82,04,000 |
| Equity Shares after the Issue | 2,47,65,600 |
Also Read : List of Upcoming IPO’s in India.
Also Read: List of Upcoming SME IPO’s in India.
Important Dates:
| Finalization of Basis of Allotment | on or Before 4th April 2024 |
| Initiation of Refunds | on or Before 5th April 2024 |
| Credit of Equity Shares: | on or Before 5th April 2024 |
| Listing Date: | on or Before 8th April 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) |
|---|---|---|---|
| 4.55 | 17.80 | 42.20% | 10.79 |
| Company Contact Info: |
|---|
| Yash Optics & Lens Limited 1st, Floor, Unit 70A, Kandiwali Industrial Estate, Charkop, Kandivali West, Mumbai- 400067, Maharashtra India Tel No: + 91 9903231000 Email: investors@yashopticsandlens.com Website: www.yashopticsandlens.com |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali CavesRoad, Andheri East, Mumbai – 400 093, Maharashtra, India Tel: 022 – 6263 8200 E-mail: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| SHRENI SHARES LIMITED No. 217, Hive 67 Icon, Poisar Gymkhana Road, Lokmanya Tilak Nagar Poisar, Near Raghuleela Mall,Kandivali West, Mumbai – 400067, Maharashtra, India. Telephone: 022 – 2089 7022 E-mail: shrenishares@gmail.com Website: www.shreni.in |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment
|
