Story continues below advertisement
Indian Emulsifier Ltd has filed a draft Red Herring Prospectus (DRHP) with NSE for raising funds through a public offer and will issue up to 35,000,000 new shares.
The shares will be issued at a price of around Rs 115 to Rs 128 per share, sources told Moneycontrol. At the high end, the company will earn Rs 44.80 crore.
Story continues below advertisement
The underwriter of the issue is Ekadrisht Capital.
GJNX Ventures, backed by Gunavanthkumar Vaid, who is widely known for his penchant for SMEs and small-cap companies, is on the list of investors with a 1.80 percent stake in the company at the time of filing the draft red herring brochures.
also read
About Indian Emulsifier:
Indian Emulsifier is a leading manufacturer in the specialty chemicals industry with a focus on esters, phosphate esters, imidazolines, succinimides, sulfosuccinates, specialty emulsifiers and formulated products. Indian Emulsifier supplies specialty chemicals to a variety of industries such as mining, textile, cleaning, PVC (polyvinyl chloride)/rubber, personal care, food and other industries.
Indian Emulsifier was founded in 2020. The Company has its manufacturing facility at Ratnagiri, Maharashtra and has a production capacity of 4,800 tonnes per annum as on March 31, 2023 and 3,600 tonnes per annum for the period ending December 31, 2023.
Story continues below advertisement
Yash Tikekar is the promoter of the company.
Objectives of the issue:
According to the prospectus, the net proceeds will be used to finance the company's capital expenditure requirements for plant and machinery, civil works and their installation costs. The purchase of modern machines serves in particular to meet the additional demand expected from the upcoming sales efforts.
Finance:
Revenue from operations stands at Rs 48.67 crore for the period December 2023, while it stands at Rs 41.17 crore for the period ending March 2023, as per filing details. The EBITDA for the period ending December 2023 is at Rs 11.20 crore, the EBITDA margin is at 22.99 percent. For the period ending March 2023, EBITDA is reported at Rs 7.86 crore and an EBITDA margin of 19.09 percent. The PAT is quoted at Rs 6.75 crore, representing a margin of 13.87 per cent for December 2023 and for March 2023, the PAT is quoted at Rs 3.89 crore with a net profit margin of 9.46 per cent.
The sales distribution for Indian Emulsifier by sector is: Mining – 27.02 percent, Personal Care – 24.02 percent, PVC Rubber – 20.99 percent, Textile – 13.99 percent, Cleaning – 7 percent and Other Industries – 6.98 Percent.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com recommends users to check with certified experts before making any investment decisions.
Discover latest business news, Sensex and Nifty updates. Get personal finance insights, tax questions and expert opinions on Moneycontrol or download the Moneycontrol app to stay up to date!
Comments are closed.