Electro Force (India) Limited IPO

Apply 0
Avoid 0
  1. Company History and Transformation:
    • Originally incorporated as “Electro Force (India) Private Limited” on June 14, 2010.
    • Transitioned from a private limited to a public limited company on April 15, 2023.
    • Name changed to Electro Force (India) Limited, and the conversion was officially recognized on May 11, 2023.
  2. ISO Certification:
    • The company is ISO 9001:2015-certified, emphasizing a commitment to quality management systems.
  3. Business Operations:
    • Specializes in designing and manufacturing electrical components, metal/plastic contact parts.
    • Operates on a business-to-business (B2B) model, supplying products to industry players.
  4. Product Range:
    • Supplies high-grade precision metal electrical contact parts, components, connectors, and assemblies.
    • Targets applications in electronics, lighting, switchgear, and allied industries in India.
  5. Manufacturing Unit:
    • Manufacturing unit located in Vasai, Maharashtra.
    • Offers end-to-end product solutions, including design, manufacturing, quality testing, packaging, and logistics.
  6. Service Offering:
    • Provides integrated services, focusing on the B2B model.
    • Capabilities include precision metal stamping, assembly, and molding.
  7. Customer Focus:
    • Mainly serves Indian manufacturers of electrical components.
    • Emphasizes quick, reliable, and accurate responses to customer needs.
  8. Product Specialization:
    • Specializes in designing and manufacturing precision sheet metal components, high-speed metal stamping components, plastic injection moldings, insert and over-molding, sub-assemblies, and value-added services.
  9. Customer Relationships:
    • Boasts well-known and reputed customers in India.
    • Can handle the production process from concept and design to final delivery.
  10. Experience and Innovation:
    • Accumulated 13 years of experience.
    • Highlights expertise in assisting customers with new designs, incorporating cutting-edge technologies, and utilizing manufacturing facilities, equipment, and materials effectively.
  11. Continuous Improvement:
    • Constantly improving product offerings to better meet customer needs.

Objects of the Electro Force (India) Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Funding additional working capital requirements of the company ii. Pursuing Inorganic Growth iii. General corporate purposes
DRHP of Electro Force (India) Limited IPO
RHP of Electro Force (India) Limited IPO

Electro Force (India) Limited IPO Details:

Open Date: Dec 19 2023
Close Date: Dec 21 2023
Total Shares: 8,674,800
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 80.68 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 93 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 27 2023

Promoters And Management:

Mr. Arvind Sharma, aged 37 years is the Chairman and Non-Executive Director of the Company. He is a Diploma Holder in Electronics and Telecommunications Engineering from Punajan State Board of Technical Education and Industrial Training, Chandigarh. He is director of the Company since September 01, 2023. He has over 13 years of experience in the engineering and Project Quantity Management, Daily Work progress and he is currently responsible for overall management and affairs of the Company and including devising strategies, developing industry networks for further business development and overall development of the business of the Company. Mr. Saideep Shantaram Bagale, aged 38 years, Whole-Time Director of the Company. He is diploma in mechanical engineering. He is associated with the company since its inception and has worked at various levels before becoming the whole time director of the company. He looks into every aspect of the company and day to day operations. He was appointed as a Director on the Board of the Company on March 30, 2023. Ms. Priyanka Yadav, aged 31 years, is appointed as Independent Director of the Company w.e.f. March 30, 2023. She is a member of the Institute of Company Secretaries of India. She holds a bachelor’s degree in laws from University of Mumbai. She has experience in compliance, secretarial and legal advisory. She is also a director of Artemis Electricals and Projects Limited & PKH Ventures Limited. She has an experience of over Five (5) years in the secretarial compliances. She is a practicing Company Secretary and is the proprietor of M/s. Priyanka Yadav & Associates.

Financials of Electro Force (India) Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
6M-FY24
Revenue from Operations 1,574 3,440 3,025 2,310
Other Income 13 4 4 4
Total Revenue 1,587 3,444 3,029 2,314
Cost of material consumed 1,197 2,007 2,558 887
Changes in Inventories 262 -0.2 -999 189
Employee benefits expenses 123 124 108 58
Other Expenses 147 169 222 198
EBITDA -142 1,145 1,139 983
Depreciation & Amortisation 79 84 70 32
Finance Cost 6 1 0.2 1
EBIT -221 1,061 1,069 951
OPM (%) -8.95% 33.25% 37.61% 42.48%
PBT -227 1059 1069 950
Tax -3 195 269 239
PAT -224 864 800 711
NPM (%) -14.09% 25.10% 26.40% 30.73%
No.of Shares 234 234 234 234
EPS -0.95 3.69 3.41 3.03
 

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Electro Force (India) Limited 30 8 3.41 27.2 93 218
Centum Electronics Limited 923 7 7.62 137.0 1,384 1,783
RIR Power Electronics Limited 57 6 8.58 86.5 772 537
*  All the data is as per FY23.

Lead Manager of Electro Force (India) Limited IPO:

  1. First Overseas Capital Limited

Registrar of Electro Force (India) Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Electro Force (India) Limited 39/5, Village - Waliv, Taluka - Vasai East, Palghar - 401 208 Phone: +91 22 35722456 Email: compliance@electroforceindia.com Website: https://electroforceindia.com/

Discussion on Electro Force (India) Limited IPO:

Leave a Reply