Delta Autocorp Limited IPO

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Deltic, operating under the parent entity Delta Autocorp LLP, specializes in the manufacturing and sale of 2W and 3W electric vehicles (EVs). The company has focused on leveraging cutting-edge technology and components procured from reputed Original Equipment Manufacturers (OEMs). The company ensures its components align with its engineering specifications and are manufactured using state-of-the-art processes.

Product Portfolio

i. Electric 3-Wheelers (E-Rickshaws)                      ii. Electric 2-Wheelers

Strategic Market Focus :- Deltic strategically focuses on Bharat’s Tier-2 and Tier-3 towns, catering to customers who seek:
i. Affordable and reliable EV options.                                               ii. Sturdy vehicles with modern designs.
iii. Solutions that combine efficiency with cost-effectiveness.

Vision and Future Plans

Deltic aims to:
i. Be a leader in the affordable EV market segment across India.
ii. Continue innovating and expanding its product portfolio to cater to evolving customer preferences.
iii. Drive the adoption of sustainable energy solutions by prioritizing safer battery technologies and efficient vehicle designs.

With its commitment to affordability, quality, and sustainability, Deltic is poised to play a significant role in the transformation of India’s transportation landscape.

Objects of the Delta Autocorp Limited IPO:

The objects of the Offer are: i. Funding of Expenditure towards Setting up an Electric Three-Wheeler Fabrication Plant & Painting Plant ii. Investment in New Product Development iii. Funding of working capital requirement iv. General Corporate Purposes v. To meet out the Offer Expenses. Total number of share issue: - i. Fresh issue is 38,88,000 shares, ii. Offer for sale is 3,12,000 shares.
DRHP of Delta Autocorp Limited IPO
RHP of Delta Autocorp Limited IPO

Delta Autocorp Limited IPO Details:

Open Date: Jan 07 2025
Close Date: Jan 09 2025
Total Shares: 42,00,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 54.60 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 123 - 130 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jan 14 2025

Promoters And Management:

Ankit Agarwal, 39, is the Chairman, Managing Director, and Promoter of the Company. He holds a Bachelor of Engineering degree from Visveswaraiah Technological University and an MBA from S.P. Jain, Dubai/Singapore. With 14 years of experience in valuation, financial modeling, and businesses like electric vehicles, logistics, and real estate, he began his career as a Business Analyst at UBS, working on financial models and valuations. Priyanka Agarwal, 38, is the Whole-Time Director, CFO, and Promoter of the company. She holds a BA in Mathematics from the University of Delhi and a Certificate in Actuarial Techniques from the Institute of Actuaries of India. With over 14 years of experience in finance, risk consultancy, HR, and management, she began her career as a Business Analyst at Evalueserve and later worked as a Junior Analyst at WNS Global Services and a Consultant at Mercer Consulting. Sanwarmall Agarwalla, 72, is the Non-Executive Director and Promoter of the company. An MBBS graduate from Assam Medical College with a Diploma in Gynecology and Obstetrics from Gauhati Medical College, he has over 45 years of experience in healthcare and is the founder of a nursing home in Nagaland.

Financials of Delta Autocorp Limited IPO:

In Cr.
Particulars Oct 31, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 45.17 80.81 80.01 57.13
EBITDA 6.68 11.38 7.84 6.22
EBITDA Margins 14.77% 14.08% 9.74% 10.82%
PAT 4.80 8.21 5.13 4.20
PAT Margins 10.64% 10.15% 6.42% 7.36%
CFOA -5.38 2.61 5.03 -3.70

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Delta Autocorp  (FY 2024) 80.81 Cr. 14.08% 10.15% 0.49 198.76 Cr. 24.21
Wardwizard Innovations & Mobility (TTM) 341 Cr. 8% 1.76% 1.78 998 Cr. 155

Recommendation on Delta Autocorp Limited IPO:

Review and Recommendation of Delta Autocorp IPO by team IZ is 4/10.

Lead Manager of Delta Autocorp Limited IPO:

  1. GYR CAPITAL ADVISORS PRIVATE LIMITED

Registrar of Delta Autocorp Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Delta Autocorp Limited Plot No 304 P, Pithakiarypost-Rupnarayanpur, Bardhaman, West Bengal, 713386 Phone: +91 8448223541 Email: compliance@deltic.co Website: http://www.deltic.co/

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