Saraswati Saree Depot Limited IPO
They are a leading player in the sarees wholesale (B2B) segment, with their roots in the sarees business dating back to 1966. Besides sarees, they also engage in the wholesale business of other women’s apparel, including kurtis, dress materials, blouse pieces, lehengas, and bottoms.
Sarees, an ethnic wear garment originating in India, are popular for both casual and festive occasions. Typically ranging from six to nine yards in length, sarees can be worn in various styles. Indian women commonly wear silk, cotton, and synthetic fiber sarees, among other blends. The saree market has seen significant demand growth from the wedding and celebration wear segments in recent years. This market shift is driven by consumers seeking higher quality and premium products, leading to an increase in sales of higher-priced sarees.
The saree industry in India is projected to grow at a 5-6% CAGR from Fiscal 2023 to Fiscal 2028, reaching Rs 625-650 billion by Fiscal 2028 (Source: CRISIL Report). Traditionally dominated by small retail shops and unorganized players with loyal customer bases, the saree market is now witnessing organized retailers tapping into the demand for branded and quality products.
With rising aspirations and disposable incomes among India’s middle class, organized retailers are targeting the mid to premium saree market. This trend is further driven by the Indian population’s growing preference for branded apparel, creating opportunities for organized branded players to launch products catering to this demand.
Objects of the Saraswati Saree Depot Limited IPO:
Saraswati Saree Depot Limited IPO Details:
Open Date: | Aug 12 2024 |
Close Date: | Aug 14 2024 |
Total Shares: | 10,000,800 |
Face Value: | ₹ 10 Per Equity Share |
Issue Size: | 160.01 Cr. |
Lot Size: | 90 Shares |
Issue Price: | ₹ 152 - 160 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Aug 20 2024 |
Promoters And Management:
Financials of Saraswati Saree Depot Limited IPO:
Particulars ( In Crores ) |
2022 |
2023 |
2024 |
Revenue from Operations | 550 | 602 | 611 |
Other Income | 1 | 2 | 2 |
Total Revenue | 550 | 604 | 613 |
Purchases of Stock-in-trade | 573 | 548 | 549 |
Change in Work-In-Progress | -76 | -17 | -15 |
Employees Benefit Expenses | 10 | 10 | 10 |
Other Expenses | 22 | 27 | 27 |
EBITDA | 22 | 36 | 42 |
OPM (%) | 3.92% | 5.91% | 6.87% |
Depreciation & Amortisation | 0.6 | 1 | 1 |
EBIT | 21 | 35 | 41 |
Finance Cost | 4 | 4 | 2 |
PBT | 16 | 31 | 39 |
Tax | 4 | 8 | 10 |
PAT | 12 | 23 | 30 |
NPM (%) | 2.24% | 3.81% | 4.82% |
No.of Shares | 3.95 | 3.95 | 3.95 |
EPS | 3.10 | 5.80 | 7.45 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Saraswati Saree Depot Limited | 611 | 30 | 7.45 | 21.5 | 160 | 634 |
Go Fashion (India) Ltd | 763 | 83 | 15.33 | 70.9 | 1,118 | 6,038 |
Sai Silks (Kalamandir) Limited | 1,374 | 101 | 6.58 | 23.4 | 154 | 2,369 |
Recommendation on Saraswati Saree Depot Limited IPO:
Lead Manager of Saraswati Saree Depot Limited IPO:
Registrar of Saraswati Saree Depot Limited IPO:
Company Address:
Discussion on Saraswati Saree Depot Limited IPO:
Leave a Reply
You must be logged in to post a comment.