HVAX Technologies Limited IPO

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The company operates in the specialized domain of turnkey projects, focusing on the engineering, procurement, and execution of controlled environment infrastructure and cleanrooms. They offer comprehensive design, engineering, and consultancy services, primarily catering to the needs of pharmaceutical, healthcare, and biotech industries, both within India and internationally.

As part of their turnkey projects, they provide a range of third-party manufactured products, which include:
i. Cleanroom wall and ceiling panels                                    ii. Covings and riser panels
iii. Cleanroom doors                                                                iv. Flooring systems
v. Pass boxes and air showers                                                vi. Low and High Tension (LT/HT) electrical panels
vii. Pre-fabricated galvanized iron (GI) ducts                  viii. Air handling units (AHUs)
ix. Chillers                                                                                   x. Building Management Systems (BMS) equipment
xi. Utility generation and distribution equipment

End Users

Their solutions and equipment are primarily supplied as part of turnkey projects. The end users of these solutions include:
i. Pharmaceutical companies                           ii. Chemical companies                          iii. Hospitals
iv. Healthcare companies                                  v. FMCG companies

Turnkey Solutions Provider

They position themselves as a “design-to-delivery” provider of controlled environment infrastructure and cleanroom solutions. Their comprehensive offering covers every aspect of project execution, from initial design and engineering to procurement, installation, testing, commissioning, and ongoing management and operational support. With a highly skilled team and a client-centric approach, they are capable of delivering customized, innovative, and high-quality solutions to meet the specific requirements of their diverse clientele.

In addition to direct engagements with their clients, they also collaborate indirectly as subcontractors, where they are responsible for specific scopes of work assigned by the main contractor. Their strong project execution capabilities, combined with their focus on quality and safety, ensure that they deliver efficient, reliable, and cost-effective solutions across the industries they serve.

Objects of the HVAX Technologies Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: i. Funding the working capital requirements; and ii. General Corporate Purpose.

HVAX Technologies Limited IPO Details:

Open Date: Sep 27 2024
Close Date: Oct 01 2024
Total Shares: 732,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 33.53 Cr.
Lot Size: 300 Shares
Issue Price: ₹ 435 - 458 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 07 2024

Promoters And Management:

Nirbhaynarayan Singh is the Chairman and Whole-Time Director of the Company and one of its Promoters, having been involved since its inception. He holds a Bachelor's degree in Computer Engineering from the University of Mumbai (2011) and has over 10 years of experience in the company's line of business. He oversees the company's daily operations and plays a key role in its growth and expansion. Prayagdatt Mishra is the Managing Director of the Company and one of its Promoters, having been involved since its inception. He holds a Bachelor's degree in Electrical Engineering from the University of Mumbai (2001) and has over 10 years of experience in the company's business operations. He oversees the administrative affairs of the company and plays an important role in its growth and expansion. Shiv Kumar Mittal is the Non-Executive Director of the Company and has been associated with the company since November 17, 2023. He is a member of the Institute of Chartered Accountants of India and has been a designated partner at CFO Desk Services LLP since 2013. With over 10 years of experience in the financial services industry, he brings significant expertise to the company's operations.

Financials of HVAX Technologies Limited IPO:

Particulars ( In Lakhs )
2022
2023
2024
Revenue from Operations 6,826 9,593 10,606
Other Income 53 21 141
Total Revenue 6,879 9,614 10,747
Cost of Materials consumed 4,205 6,419 6,753
Employees Benefit Expenses 822 898 1,095
Other Expenses 1,110 1,421 1,375
EBITDA 742 877 1,524
OPM (%) 10.79% 9.12% 14.18%
Depreciation & Amortisation 122 107 107
EBIT 621 769 1,416
Finance Cost 63 70 158
PBT 558 699 1,259
Tax 140 179 320
PAT 418 520 939
NPM (%) 6.08% 5.41% 8.74%
No.of Shares 27.76 27.76 27.76
EPS 15.05 18.73 33.81

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
HVAX Technologies Limited 106 9 33.81 13.5 458 127
Ahlada Engineers Limited 260 14 10.56 10.1 108 140
* All the data is as per FY24.

Lead Manager of HVAX Technologies Limited IPO:

  1. Fedex Securities Limited

Registrar of HVAX Technologies Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

HVAX Technologies Limited 601, Lodha Supremus, I-Think Techno Campus, Kanjurmarg (East), Mumbai - 400042 Phone: 022 4972 5039 Email: compliance@hvax.in Website: http://www.hvax.in/

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