Shree Tirupati Balajee Agro Trading Company Limited IPO
They are a leading manufacturer and supplier of Flexible Intermediate Bulk Containers (FIBCs) and other industrial packaging products, such as woven sacks, woven fabric, narrow fabric, and tapes. Their business operations extend across both the Indian domestic market and international markets, where they provide customized bulk packaging solutions to clients in diverse industries. These industries include chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oils. Their FIBC products are integral to the packaging and transportation processes, offering an efficient alternative that streamlines loading and unloading operations, thereby reducing labor costs and improving logistical efficiency.
Product Portfolio:
i. Flexible Intermediate Bulk Containers (FIBCs): They specialize in manufacturing large flexible bags designed for the transportation and storage of bulk products. These containers are versatile and cater to various sectors, providing a robust solution for handling large quantities of goods.
2. Woven Sacks and Fabrics: Their range of woven sacks and fabrics is tailored to meet the specific packaging requirements of different industries. These products are durable, reliable, and designed to protect the contents during transportation.
3. Narrow Fabric and Tapes: In addition to larger containers, they also manufacture narrow fabrics and tapes, which are used in various industrial applications, adding to the versatility of their product offerings.
Core Competencies:
Their business is distinguished by several core competencies that contribute to their competitive edge:
i. Wide Product Range: They offer a broad spectrum of packaging solutions, from FIBC bags to woven bags and container liners, addressing the diverse needs of their clients.
ii. Multi-Location Facilities: Operating from five manufacturing units, they have established a robust production infrastructure that supports large-scale operations and ensures consistent quality and supply.
iii. Recurring Orders and Global Presence: Their ability to secure recurring orders from a global clientele underscores their reliability and the trust placed in them by their customers. They have a significant presence in both domestic and international markets.
iv. Scale of Production: Their extensive production capabilities enable them to meet large orders and fulfill the bulk packaging needs of various industries efficiently.
v. Technical Expertise: Their technical proficiency in manufacturing FIBCs and other packaging products ensures that we deliver high-quality, customized solutions tailored to the specific requirements of each industry.
vi. Environmental Contribution and Recycling Efforts: They are committed to environmental sustainability, and their operations include efforts to minimize waste and promote recycling, contributing positively to the environment.
Diverse Industry Applications:
Their products serve as logistics solutions across a wide array of industries, including but not limited to:
i. Chemicals and Agrochemicals: Providing safe and durable packaging for hazardous and non-hazardous materials.
ii. Food Industry: Ensuring food safety and compliance with regulatory standards during transportation and storage.
iii. Mining: Offering robust packaging solutions that withstand the demanding conditions of the mining industry.
iv. Waste Disposal: Supporting efficient and secure waste management processes.
v. Agriculture: Facilitating the storage and transport of agricultural products.
vi. Lubricants and Edible Oils: Providing reliable packaging that maintains the integrity of liquid products during transit.
Organizational Structure:
Their business operations are managed through a network of subsidiaries, each specializing in different aspects of their product range:
i. Honourable Packaging Private Limited (HPPL): Focuses on manufacturing and supplying a variety of packaging solutions.
ii. Shree Tirupati Balajee FIBC Limited (STBFL): Specializes in the production of FIBC bags and related products.
iii. Jagannath Plastics Private Limited (JPPL): Contributes to the production of woven sacks, fabrics, and other packaging materials.
Conclusion:
They are a one-stop solution for all FIBC packaging needs, offering a comprehensive range of products and services that cater to a wide variety of industries. Their commitment to quality, technical expertise, and environmental sustainability, combined with their broad product portfolio and global reach, make them a trusted partner for clients seeking efficient and reliable packaging solutions.
Objects of the Shree Tirupati Balajee Agro Trading Company Limited IPO:
Shree Tirupati Balajee Agro Trading Company Limited IPO Details:
Open Date: | Sep 05 2024 |
Close Date: | Sep 09 2024 |
Total Shares: | 20,440,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Size: | 169.65 Cr. |
Lot Size: | 180 Shares |
Issue Price: | ₹ 78 - 83 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Sep 12 2024 |
Promoters And Management:
Financials of Shree Tirupati Balajee Agro Trading Company Limited IPO:
Particular (In Crores ) | Mar-22 | Mar-23 | Mar-24 |
Equity Share Capital | 1.15 | 1.16 | 66.82 |
Reserves | 91 | 109 | 106 |
Borrowings | 240 | 224 | 244 |
Trade Payables | 17 | 9 | 34 |
Other Liabilities | 43 | 49 | 66 |
Total Liabilities | 300 | 282 | 344 |
Net Block | 56 | 51 | 72 |
Capital Work in Progress | 14 | 22 | 16 |
Investments | 0.6 | 0.9 | 1 |
Other Assets | 27 | 20 | 12 |
Total NC Assets | 98 | 95 | 101 |
Receivables | 48 | 51 | 93 |
Inventory | 194 | 201 | 252 |
Cash & Bank | 11 | 9 | 8 |
Other Assets | 41 | 36 | 63 |
Face value | 10 | 10 | 10 |
Particular (In Crores ) | Mar-22 | Mar-23 | Mar-24 |
Sales | 444 | 475 | 540 |
Raw Material Cost | 286 | 318 | 414 |
Purchases of Stock In Trade | 16 | 1 | 0 |
Change in Inventory | -2 | -11 | -39 |
Employee Cost | 31 | 34 | 33 |
Other Expenses | 82 | 85 | 70 |
Other Income | 10 | 3 | 13 |
EBITDA | 41 | 51 | 75 |
EBITDA Margin | 9.12% | 10.67% | 13.91% |
Depreciation | 7 | 6 | 7 |
Interest | 16 | 18 | 21 |
Profit before tax | 17 | 27 | 47 |
Tax | 4 | 6 | 11 |
Net profit | 14 | 21 | 36 |
NPM (%) | 3.01% | 4.33% | 6.53% |
Particular (In Crores ) | Mar-22 | Mar-23 | Mar-24 |
Cash From Operating Activity | |||
Profit From Operation | 31 | 48 | 62 |
Receivable | -1 | -3 | -42 |
Inventory | -15 | -7 | -51 |
Payable | -25 | -8 | 25 |
Loans And Advances | -9 | 7 | -24 |
Other WC Items | 0.6 | 5 | 14 |
Working Capital Changes | -50 | -6 | -77 |
Direct Taxes | -3 | -6 | -11 |
Net Cash Inflow from Operating Activity | -22 | 37 | -26 |
Cash from Investing Activity | |||
Fixed assets purchased | -18 | -8 | -17 |
Investments purchased | -0.6 | -0.3 | -0.2 |
Other investing items | 12 | 0.5 | 6 |
Net cash inflow from investing activities | -7 | -8 | -11 |
Cash from Financing Activity | |||
Proceeds from shares | 0 | 0.2 | 33 |
Proceeds from borrowings | 49 | 0 | 33 |
Repayment of borrowings | 0 | -16 | -13 |
Intrest paid fin | -16 | -18 | -21 |
Net Cash Flow | 4 | -4 | -5 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Shree Tirupati Balajee Agro Trading Company Limited | 540 | 36 | 4.42 | 18.8 | 83 | 677 |
Commercial Syn Bags Ltd | 288 | 8 | 1.97 | 36.4 | 66 | 264 |
Emmbi Industries Limited | 377 | 10 | 5.62 | 21.9 | 123 | 218 |
Rishi Techtex Limited | 112 | 1 | 1.83 | 33.9 | 61 | 45 |
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