Premium Plast Limited IPO

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Premium plast limited are a tier-1 automotive component group, specializing in the design, manufacture, and supply of high-quality plastic components for commercial vehicle original equipment manufacturers (OEMs). They emphasize maintaining the highest industry standards in producing specialized plastic injection and blow mould components.

Their core capabilities lie in producing a wide range of injection and blow moulded plastic articles that cater to multiple industries, including automotive, industrial, and packaging sectors. They have established themselves as a leading manufacturer of automotive components, with a portfolio of over 600 components manufactured across three strategically located facilities in India. Utilizing advanced blow moulding and injection moulding technologies, they deliver robust, reliable, and customized solutions for their clients.

Product Verticals:

i. Automotive Components:
a. Exterior Components            b. Interior Components         c. Steering Wheels & Other Parts

ii. Industrial Plastic Parts:

iii. Moulded Industrial Packaging:

Conclusion

Their extensive range of products, combined with advanced manufacturing capabilities, positions them as a reliable and versatile partner for OEMs and industrial clients seeking high-performance plastic components.

Objects of the Premium Plast Limited IPO:

The Company proposes to utilize the Net Proceeds from the offer towards funding the following objects: i. Expansion of Existing Manufacturing facility at Pithampur, Madhya Pradesh, and Purchase of Machineries; ii. Funding of capital expenditure requirement of the Company towards Set up of Rooftop Grid Solar Power Plant at the existing Manufacturing facility; iii. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company; iv. General Corporate Purpose; and v. Offer Related Expenses.
DRHP of Premium Plast Limited IPO
RHP of Premium Plast Limited IPO

Premium Plast Limited IPO Details:

Open Date: Oct 21 2024
Close Date: Oct 23 2024
Total Shares: 5,346,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 26.20 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 46 - 49 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 28 2024

Promoters And Management:

Chetan Nagendra Dave, 56, is a Promoter and Managing Director of the company. He holds a diploma in plastic engineering and has been with the company since April 2006. He leads product development, business development, and customer relations, playing a key role in expanding the product portfolio and client base. With over 18 years of experience in manufacturing and product development, he has extensive industry knowledge. Dr. Lopa Chetan Dave, 54, is a Promoter and Non-Executive Director of the company. She holds a bachelor's degree in homoeopathic medicine and surgery from the University of Bombay and is registered under the Mumbai Homoeopathic Practitioner's Act. With over 30 years of experience in homeopathy, she brings valuable expertise to the company. Uday Devendra Sanghvi, 56, is a Non-Executive Director of the company, associated since March 2021. Despite no formal educational qualifications, he is a partner at Daybreak Technologies and has over a decade of experience in product engineering.

Financials of Premium Plast Limited IPO:

Particular (In lakh) Q1FY25 Mar-24 Mar-23 Mar-22
Revenue from Operations 1213 4,671 4,404 3,099
Cost of Material Consumed 806 3051 3354 2218
Operating Cost 54 240 198 189
Employee Cost 51 243 222 180
Other Expenses 12 109 85 58
EBITDA 290 1,028 545 454
EBIDTA Margin 23.91% 22.01% 12.38% 14.65%
Other income 0 0 1 6
Depreciation 53 219 186 222
Interest 42 163 139 141
Profit before tax 195 645 221 97
Tax 54 167 61 19
Net profit 141 478 160 78
NPM (%) 11.62% 10.23% 3.63% 2.51%
EPS 0.74 2.50 0.84 0.41

Comparison With Peers:

Name of the Companies Revenue (Cr) Profit (Cr) EPS P/E CMP Mcap (cr)
Premium Plast Limited 4,671 478 2.50 20 49 93.5
Varroc Engineering Limited 7552 532 0.74 16.6 573 8750
Uno Minda Ltd 14,031 925 15.33 61.8 955 54847
All the data is as per FY24

Lead Manager of Premium Plast Limited IPO:

  1. Khandwala Securities Limited

Registrar of Premium Plast Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Premium Plast Limited Gala No 3, Shiv Shankar Indl Est No 1, Virar City (M Corp), Valiv, Thane, Vasai - 401 208 Phone: +91 025 0660 116 Email: info@premiumplast.in Website: https://premiumplast.in/

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