AMIC Forging Limited IPO

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1. Core Business:

  • The company is a manufacturer in the forging industry.
  • It produces precision machined components based on customer specifications and international standards.
  • The components cater to various industries, including Heavy Engineering, Steel, Oil & Gas, Petrochemicals, Chemicals, Refineries, Power Generation (Thermal, Nuclear, Hydro), Cement, Sugar, and related sectors.

2. Product Range:

  • The company manufactures a variety of components, such as Rounds, Shafts, Blanks, Gear couplings, Hubs, Flanges, and other engineering spares.
  • Materials used include carbon steel, alloy steel, stainless steel, Nickel, and Tools Alloys.

3. Manufacturing Facilities:

  • State-of-the-art forging facilities with a 6 M/ton capacity Electro Hydraulic Hammer, 1 M/ton capacity Pneumatic Hammer, and supporting equipment like Manipulators, Cranes, and Furnaces.
  • Heat Treatment Plant with temperature-controlled furnaces and quenching arrangements.
  • Machine shop equipped with various machines for the manufacturing process.

4. Expertise and Technology:

  • The company has a well-established design center with the latest 3D software and highly trained technicians.
  • Continuous improvement is emphasized, with a focus on high-quality standards and on-time delivery.

5. Quality Assurance:

  • Adherence to international quality standards through stage inspections and testing at every manufacturing stage.
  • Rigorous quality checks for raw materials, working-in-process materials, and finished products.
  • ISO 9001:2015 certification to signify commitment to quality and safety.

6. Market Position:

  • The company has earned a strong position in the domestic market.
  • Specialization in manufacturing open forgings, providing customized solutions to customers.

7. Future Plans:

  • Planned expansion via backward integration by starting the manufacturing of Steel Melting & Ingot Casting.
  • Backward integration is expected to increase product base and output.

8. Safety and Compliance:

  • Emphasis on safety standards through proper procedures, skilled manpower, and top-quality equipment.
  • Compliance with applicable statutory and regulatory requirements.

9. Documentation and Traceability:

  • The entire manufacturing process is backed by proper documentation and traceability until the end product.

10. Customer Focus:

  • The company aims to meet the evolving needs of customers by continuously expanding forging facilities and machining capabilities.
  • Dedicated to supplying quality products by controlling raw material procurement, monitoring process parameters, and complying with standards.

Objects of the AMIC Forging Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Setting up of Manufacturing facility. ii. Working Capital Requirements. iii. General Corporate Purposes.

AMIC Forging Limited IPO Details:

Open Date: Nov 29 2023
Close Date: Dec 01 2023
Total Shares: 2,762,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 34.80 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 121 - 126 Per Equity Share
Listing At: BSE SME
Listing Date: Dec 11 2023

Promoters And Management:

Mr. Girdhari Lal Chamaria, aged 68 years, is the Founder, Promoter and Managing Director of the Company. He is the Director of the Company since Incorporation of the Company. He was later Appointed as Managing Director with effect from January 05, 2023 for a tenure of 5 years. He has a bachelor’s degree in commerce from University of Calcutta. He has more than 45 years of experience. He is a visionary entrepreneur and has played a pivotal role in setting up business of the Company. He primarily looks after the overall business operations of the Company. He is the driving force behind the working of the company and has been the mentor to all the employees. As a leader, he always delivers value to the customers and endeavour in fulfilling / exceeding their expectations and is involved in day-to-day execution of projects. In a Company he is responsible for providing strategic advice and guidance to the members of the board, to keep them aware of developments within the industry and ensure that the appropriate policies are developed to meet the company’s mission and objectives and to comply with all relevant statutory and other regulations. Mr. Anshul Chamaria, aged 42 years, is the Executive Director of the Company. He was appointed as Non-Executive Director w.e.f. May 22, 2013, later was re-appointed as Executive Director w.e.f. July 20, 2023. He has been associated with company since almost a decade. His expertise has led the company grow. Currently, he is Director of the Company and operations head and oversees the execution of the company. His vast industry knowledge and experience has helped company to grow many folds. Ms. Rashmi Chamaria, aged 43 is the Non-Executive Director of the Company. She was appointed as Non-Executive Director with effect from December 02, 2022. She has a bachelor’s degree in Science from Jadavpur University. Her role in the company includes overseeing whether company’s programmes are being executed in right direction as per its aim and objectives, recommending business policies to the board governing the company, establishing long-term business plans for supporting the vision and values of the company.

Financials of AMIC Forging Limited IPO:

Particulars ( In Lakhs )
Revenue from Operations 2,641 7,112 11,585 2,955
Other Income 2 27 98 25
Total Revenue 2,643 7,139 11,683 2,979
Cost of Material Consumed 2,378 6,773 9,993 2,353
Change in Inventories 50 10 0 0
Employee benefits expenses 13 50 104 30
Other Expenses 49 59 131 75
EBITDA 154 246 1,455 521
Depreciation & Amortisation 45 59 60 17
Finance Cost 31 63 79 13
EBIT 110 187 1,394 503
OPM (%) 5.84% 3.45% 12.45% 17.47%
PBT 78 124 1315 490
Tax 22 37 335 130
PAT 56 87 980 360
NPM (%) 2.13% 1.21% 8.39% 12.08%
No.of Shares 104.88 104.88 104.88 104.88
EPS 0.53 0.82 9.34 3.43

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Amic Forging Limited 116 10 9.34 13.5 126 132
Maiden Forgings Limited 221 10 9.22 18.5 125 178
Ramkrishna Forgings Limited 3,193 248 15.52 47.5 761 13,760
* All the data is as per FY23.

Lead Manager of AMIC Forging Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of AMIC Forging Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

AMIC Forging Limited 3A, Garstin Place, 2nd Floor, Kolkata – 700001 Phone: 033 - 40668190 Email: Website

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