Aditya Ultra Steel Limited IPO

Apply 0
Avoid 0

Closing in

Days
Hours
Mins
Secs

Don't Miss It! Mark Your Calender Now:


Aditya Ultra Steel Limited, is a leading manufacturer of rolled steel products, specifically Thermo-Mechanically Treated (TMT) bars under the renowned Kamdhenu brand. These products primarily serve the construction industry and infrastructure development sectors. With over 12 years of experience in the TMT bar industry, they have established themselves as a reliable supplier, particularly within the State of Gujarat, where their customer base is predominantly located.

Future Prospects

Their focus remains on expanding their production capabilities, maintaining the highest quality standards, and serving their customers’ evolving needs in the construction and infrastructure sectors. Their strong financial performance, coupled with their strategic location and experienced leadership, positions us well for continued success in the steel manufacturing industry.

In summary, Aditya Ultra Steel Limited has emerged as a prominent and rapidly growing manufacturer of TMT bars in India, driven by a commitment to quality, innovation, and customer satisfaction. Their journey reflects their dedication to becoming a leading force in the steel industry, with a solid foundation for future growth and expansion.

Objects of the Aditya Ultra Steel Limited IPO:

The company intends to use the net proceeds from the issue towards these objectives: i. To meet Capital Expenditure ii. To meet Working Capital Requirements iii. General Corporate Purposes iv. To meet the Public Issue Expenses
DRHP of Aditya Ultra Steel Limited IPO
RHP of Aditya Ultra Steel Limited IPO

Aditya Ultra Steel Limited IPO Details:

Open Date: Sep 09 2024
Close Date: Sep 11 2024
Total Shares: 7,400,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 45.88 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 59 - 62 Per Equity Share
Listing At: NSE Emerge
Listing Date: Sep 16 2024

Promoters And Management:

Mr. Sunny Sunil Singhi, 34, is the Promoter, Chairman, and Managing Director of the Company, serving as a director since October 9, 2021. He holds a Bachelor's degree in Commerce from Gujarat University and is an associate member of ICAI. With 8 years of experience in debt syndication and fundraising, and over 2.5 years in the steel industry, he previously worked at Nirbhay Capital Services Private Limited. He is also a Director at Premier Synthetics Limited, a designated partner in Nebula Civiltech LLP, a partner in Nischay Consultancy, and the karta of Sunny Singhi HUF. Mr. Varun Manojkumar Jain, 35, is the Promoter and Non-Executive Director of the Company, holding directorship since May 30, 2016. He holds a Bachelor's degree in Commerce from Gujarat University and has completed a Management Programme for family business from ISB, Hyderabad. He has over 8 years of experience in the steel sector. Currently, he serves as the Managing Director of VMS TMT Limited, the Group Company, and is a partner in Yohaan Enterprises. Mrs. Sapna Jain, 38, has been the Non-Executive Independent Director of the Company since December 20, 2023. She holds a Bachelor's and Master's degree in Commerce and a Post Graduate Diploma in Cost & Management Accounting from Jai Narain Vyas University, Jodhpur. A fellow member of ICSI with a certificate of practice, she has 10 years of experience in Corporate Laws. Currently, she is a practicing company secretary, the Treasurer of the Jodhpur Chapter of ICSI, and a Director at MFL India Limited.

Financials of Aditya Ultra Steel Limited IPO:

Particulars ( In Lakhs )
2022
2023
2024
Revenue from Operations 51,536 53,045 58,780
Other Income 63 4 76
Total Revenue 51,598 53,049 58,856
Cost of Material Consumed 45,570 49,285 38,099
Purchase of Stock in trade 800 599 15,424
Changes in inventories -300 -2,176 -337
Manufacturing Expenses 2,233 2,150 1,580
Employees Benefit Expenses 820 838 820
Other Expenses 1,321 1,361 1,392
EBITDA 1,154 991 1,878
OPM (%) 2.24% 1.87% 3.19%
Depreciation & Amortisation 141 149 161
EBIT 1,013 842 1,716
Finance Cost 298 463 644
PBT 716 379 1,072
Tax 227 101 280
PAT 489 278 792
NPM (%) 0.95% 0.52% 1.35%
No.of Shares 248.35 248.35 248.35
EPS 1.96 1.11 3.19

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Aditya Ultra Steel Limited 588 8 3.19 19.4 62 154
Rathi Bars Limited 614 4 2.19 18.9 46.6 76
Mangalam Worldwide Limited 818 20 8.20 16.0 130 320
* All the data is as per FY24.

Recommendation on Aditya Ultra Steel Limited IPO:

To be updated shortly.

Lead Manager of Aditya Ultra Steel Limited IPO:

  1. Swastika Investmart Limited

Registrar of Aditya Ultra Steel Limited IPO:

  1. Cameo Corporate Services Limited

Company Address:

Aditya Ultra Steel Limited Survey No.888/807/810, FP-25,28,T 808-C, Pinnacle, Prahlad Nagar Area, Opp. Royal Arcade, AUDA Garden, Ahmedabad- 380 015 Phone: 079 - 4890 1470 Email: cs@adityaultrasteel.com Website: http://www.adityaultrasteel.com/

Discussion on Aditya Ultra Steel Limited IPO:

Leave a Reply