Aimtron Electronics Limited IPO

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They specialize in providing Electronics System Design and Manufacturing (ESDM) services, focusing on high-value precision engineering products. Their offerings span from printed circuit board (PCB) design and assembly to the manufacturing of complete electronic systems (Box Build). They cater to a diverse range of domestic and international clients located in India, the United States, Hong Kong, the United Kingdom, Spain, and Mexico.

Service Offerings

Their core services include:
1. Printed Circuit Board Assembly (PCBA): They design and assemble PCBs based on client specifications, ensuring high precision and quality.
2. Box Build Assemblies: They handle the integration of various components into complete electronic systems, including applications in battery management systems for electric vehicles.
3. Design Solutions: Their comprehensive design services cover everything from conceptualization and engineering to prototype development and turnkey manufacturing.

Industry Segments

Their products and services are crucial for various sectors, including:
i. Industrial Automation         ii. Electric Vehicle Mobility                iii. IoT and Embedded Systems
iv. MedTech and Wearables    v. Gaming                                              vi. Robotics

They serve a broad spectrum of end-use industries such as:
i. Industrial                ii. Medical & Healthcare Equipment                iii. Automobiles             iv. Power
v. Gaming                   vi. Drones and UAVs (Unmanned Aerial Vehicles)

Customer Base and Relationships

They maintain long-term relationships with a diversified customer base across multiple industry verticals. Their reputation is built on their ability to meet diverse customer needs, enhance products with emerging technologies, and develop new products while optimizing costs.

Conclusion

They are dedicated to providing high-quality ESDM solutions, leveraging our advanced manufacturing capabilities and experienced team. Their focus on innovation, sustainability, and customer-centricity positions them as a leader in the electronics system design and manufacturing industry.

Objects of the Aimtron Electronics Limited IPO:

The company intend to utilize the proceeds of the Issue to meet the following objectives: - i. Repayment in whole or in part, of certain of the outstanding borrowings; ii. Funding Capital Expenditure towards the installation of additional plant and machinery iii. Funding to meet working capital requirements iv. General Corporate Purpose.
DRHP of Aimtron Electronics Limited IPO
RHP of Aimtron Electronics Limited IPO

Aimtron Electronics Limited IPO Details:

Open Date: May 30 2024
Close Date: Jun 03 2024
Total Shares: 5,404,800
Face Value: ₹ 10 Per Equity Share
Issue Size: 87.02 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 153 - 161 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jun 06 2024

Promoters And Management:

Mukesh Jeram Vasani aged 61 years is the Chairman and Non-Executive Director and Promoter of the Company. He has been on the board of Directors from October 21, 2013. He holds the degree in Bachelor of Engineering in Civil from Sardar Patel University, Gujarat in the year 1987. He has an overall experience of around 30 years in the production, marketing and manufacturing of engineering and electronic goods and services. He has played a pivotal role in the growth of the company. Under his leadership, the Company has been successful in expanding its diversified product portfolio and customer base. Nirmal M. Vasani aged 28 years is the Non-Executive Director and promoter of the Company. He has been associated with the company since March 15, 2016. He has an experience of around 7 years in the ESDM industry. He has completed his graduation from James R. Conant High School, Hoffman Estates, Illinois. His contribution into marketing activities of the company helps us expand their overseas business. Sharmilaben Lakhanbhai Bambhaniya aged 50 years is a Whole-Time Director of the Company. She has completed her Bachelors of Commerce from Kansagra Mahila Arts & Commerce College, Rajkot in the year 1993, Master of Commerce from Smt. KSN Kansagara Mahila College, Rajkot in the year 1995 and Bachelor of Laws (Special) from S.S. Ajmera Municipal Law College, Gondal in the year 2010. She has an experience of around 20 years in the field of social activities, Educational advisory and business operations. She is currently involved in the finance and administrative activities of the company.

Financials of Aimtron Electronics Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
9M-FY24
Revenue from Operations 5,278 2,632 7,158 6,707
Other Income 128 57 82 57
Total Revenue 5,406 2,689 7,240 6,764
Cost of materials consumed 2,854 2,450 6,067 4,206
Change in inventories -34 -389 -1,396 -76
Employees Benefit Expenses 282 395 477 417
Other Expenses 132 236 352 504
EBITDA 2,172 -3 1,739 1,713
OPM (%) 40.17% -0.10% 24.02% 25.33%
Depreciation & Amortisation 68 147 427 299
EBIT 2,104 -150 1,312 1,414
Finance Cost 3 12 138 121
PBT 2101 -162 1174 1293
Tax 529 18 311 317
PAT 1572 -180 863 977
NPM (%) 29.07% -6.70% 11.92% 14.44%
No.of Shares 204.13 204.13 204.13 204.13
EPS 7.69 -0.88 4.22 4.78

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Aimtron Electronics Limited 72 9 4.22 38.1 161 329
Kaynes Technology India Limited 1,126 95 16.37 115.0 3,305 21,123
Vinyas Innovative Technologies Limited 235 7 N/A 100.0 792 997
Avalon Technologies Limited 945 52 9.06 114.0 488 3,204
Syrma SGS Technology Limited 2,048 123 6.75 78.2 476 8,458
* All the data is as per FY23.

Recommendation on Aimtron Electronics Limited IPO:

Review and Recommendation of Aimtron Electronics by team IZ is 5/10. 1. Aimtron Electronics Limited are engaged in providing products and solutions within the electronics system design and manufacturing (ESDM) services sector, specializing in high-value precision engineering products. Our comprehensive offerings include: i. PCB Design and Assembly                 ii. Complete Electronic Systems (Box Build) iii. Tailored Solutions Their services range from customers providing product designs, for which they offer manufacturing services, to developing products based on client specifications, including both design and manufacturing. 2. Service Offerings i. Printed Circuit Board Assembly (PCBA)               ii. Box Build Assemblies iii. Design Solutions 3. Industry Applications Their products and services cater to multiple industry segments, including: i. Industrial Automation                          ii. Electric Vehicle Mobility iii. IoT and Embedded Systems            iv. Medical Technology and Wearables v. Gaming                                                 vi. Robotics These products and solutions enable higher-level monitoring and control functions, helping various industries achieve their production objectives. 4. Market Position and Strategic Growth Their long-term relationships with a diverse customer base across multiple industry verticals, such as the industrial sector, medical & healthcare equipment, automobiles, power, gaming, drones, and UAVs, highlight their market position. Their promoters, Mukesh Jeram Vasani, Nirmal M. Vasani, and Sharmilaben Lakhanbhai Bambhaniya, bring extensive experience in the ESDM field, contributing significantly to our growth. 5. Competitive Landscape The ESDM industry is highly competitive, characterized by rapid growth and constant innovation. They compete on product quality, technology, cost, delivery, and service across various markets and geographic regions. Key competitors in India include Bharat FIH, Dixon Technologies India Limited, Amber Enterprises India Limited, SFO Technologies Private Limited, Elin Electronics Limited, Syrma SGS Technology Limited, Avalon Technologies Private Limited, VVDN Technologies Private Limited, Centum Electronics Limited, Cyient DLM, and Kaynes Technologies. Their diverse product portfolio allows them to cater to multiple industry segments, enabling them to remain competitive and meet the varying needs of their customers across the industrial, medical & healthcare, automobile, gaming, and UAV sectors. 6. The Revenue has Increased from Rs.52 Crores in FY21 to Rs.71 Crores in FY23. 7. The EBITDA has Decreased from 21 Crores in FY21 to 17 Crores in FY23. 8. The PAT has Decreased from 15 Crores in FY21 to 8 Crores in FY23. 9. As per FY23, CFO/EBITDA is 0.99, As per FY24, EPS is 6.37, 10. Market Capitalization is 329 Crore & P/E is 25.23x based on FY24.

Lead Manager of Aimtron Electronics Limited IPO:

  1. Hem Securities Limited

Registrar of Aimtron Electronics Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Aimtron Electronics Limited Plot No 1/A, G.I.D.C.Estate Vadodara, , Waghodia-391760 Phone: +91-9687632057 Email: cs@aimtron.com Website: https://www.aimtron.in/

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