Malpani Pipes And Fittings Limited IPO

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Malpani Pipes & Fittings Limited, operates from Ratlam, Madhya Pradesh, and specializes in manufacturing premium-quality plastic pipes. The company’s product portfolio includes High-Density Polyethylene (HDPE) Pipes, Medium-Density Polyethylene (MDPE) Pipes, and Linear Low-Density Polyethylene (LLDPE) Pipes, marketed under its brand name. The company also engages in trading granules, PVC pipes, and service-related sales.

Market Reach and Distribution

Malpani Pipes serves a diverse customer base, distributing its products to wholesalers, retailers, and government contractors. The company actively participates in government development projects and welfare policies, supplying pipes to farmers under Central and State Government schemes. This ensures the company’s alignment with the agricultural and infrastructure development objectives of the country.

Applications and Product Suitability

Malpani Pipes’ products cater to a wide range of applications, including:
i. Agricultural Irrigation: Efficient solutions for sprinkler and drip irrigation systems.
ii. Water Supply Systems: Pipes designed for potable water supply and underground boreholes.
iii. Sewerage and Drainage: Durable options for wastewater management.
iv. Infrastructure Projects: Support for long-distance electrical cables and optical fiber installations.

Conclusion

Malpani Pipes & Fittings Limited has established itself as a trusted manufacturer and supplier of high-quality plastic pipes. With a commitment to innovation, quality, and customer satisfaction, the company continues to expand its footprint in both the agricultural and infrastructure sectors. Its strong alignment with government initiatives and adherence to stringent testing standards position it as a key player in the pipe manufacturing industry.

Objects of the Malpani Pipes And Fittings Limited IPO:

The company intends to utilize the Net Proceeds from the issue towards the following objects: i. Capital Expenditure for purchase of machineries. ii. Repayment of Debt iii. General Corporate Purpose.
DRHP of Malpani Pipes And Fittings Limited IPO
RHP of Malpani Pipes And Fittings Limited IPO

Malpani Pipes And Fittings Limited IPO Details:

Open Date: Jan 29 2025
Close Date: Jan 31 2025
Total Shares: 28,80,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 25.92 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 85 - 90 Per Equity Share
Listing At: BSE SME
Listing Date: Feb 05 2025

Promoters And Management:

Rohit Malpani, aged 40, is a Promoter and Managing Director of the Company, serving as a Director since February 11, 2020. He holds an MBA from ICFAI University, Dehradun (2008), and a Bachelor's in Engineering (Instrumentation & Control) from RGPV, Bhopal (2006). With over 12 years of experience in financial services at organizations like Societe Generale, Crisil, and Cognizant, he oversees the Company's operations, strategy, and long-term goals. Harsh Malpani, aged 31, is a Promoter and Whole-Time Director of the Company, serving as a director since its inception on February 3, 2017. An Accounting Technician from ICAI (2012), he has seven years of experience in the pipes and fixtures industry. He oversees operations, finance, accounts, and overall management while providing strategic guidance to the Board. He completed his articleship with M/s. SVAN & Associates in September 2015. Mohit Malpani, aged 36, is a Promoter and Whole-Time Director of the Company, serving as a director since its inception on February 3, 2017. He holds an MBA in Marketing from Pondicherry University (2010) and a B.Com from Vikram University, Ujjain (2009). With seven years of experience in the pipes and fixtures industry, he oversees business development, marketing, sales, and distribution, leading the Company's sales strategies.

Financials of Malpani Pipes And Fittings Limited IPO:

(in Crores)
Particulars Nov 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 84.09 140.96 82.45 34.90
Growth in Revenue 70.96% 136.21%
EBITDA 9.20 13.29 4.41 1.88
EBITDA Margins 10.89% 9.43% 5.35% 5.41%
PAT 5.09 7.39 2.08 0.89
PAT Margins 6.05% 5.25% 2.52% 2.55%
ROCE 11.17% 21.74% 12.78% 10.66%
CFOA -0.97 -5.59 -5.65 0.46
 

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Malpani Pipes & Fittings  (FY 2024) 140.96 Cr. 9.43% 5.25% 1.79 96.99 Cr. 13.12
Aik Pipes and Polymers (TTM) 31.86 Cr. 12.12% 8.78% 0.36 62.50 Cr. 22.30
Kriti Industries (TTM) 812 Cr. 8% 2.71% 0.70 598 Cr. 27.40

Recommendation on Malpani Pipes And Fittings Limited IPO:

Review and Recommendation of Malpani Pipes and Fittings Limited by IZ team is 5/10

Lead Manager of Malpani Pipes And Fittings Limited IPO:

  1. Interactive Financial Services

Registrar of Malpani Pipes And Fittings Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Malpani Pipes And Fittings Limited 65-A, Sector B Industrial Area, Ratlam 457001 Phone: 07412-260707 Email: pipes@malpanipipes.com Website: http://www.malpanipipes.com/

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