Annapurna Swadisht Limited IPO
i. Annapurna Swadisht is manufacturer of snacks and food products, namely, Fryums, cakes, candys, namkeen, chips and Gohona Bori. They key raw materials include refined flour, palm oil, spices and laminates. The Company use raw material of premium quality sourced from reputed local suppliers, which help us to ensure the quality of our products.
ii. Annapurna Swadisht is a Bharat FMCG Company. They are one of the largest FMCG player in Eastern India and they are the fastest growing segment in Fryums, Cakes, Candies, Namkeen and Potato Chips.
iii. They have a unique price point of Rs. 5 which makes them the dominant player in Rural Area. The company sell more than 12 Lakh packets of products daily. The Company have a hub in Asansol with an constructed area of approx. 50,142 sq. ft. and at Manufacturing unit in Siliguri with an constructed area of approx. 35,000 sq. ft. We have generated employment to over 235 people.
iii. The daily production capacity of the Asansol manufacturing unit is 15 MT of Fryums, whereas the daily production capacity of manufacturing unit at Siliguri is 10 MT of Fryums.
iv. Annapurna Swadisht products are marketed under its own brand names Jackpot, Chatpata Moon, Balloon, Finger, Rambo, Makeup Box, Dhamaka, Phoochka, Jungle Adventures, Ringa, Bachpan Ka Pyaar, Kurchure, Cream Filled Cake Vanilla, Cream Filled Cake Litchi, Cream Filled Cake Mix Fruit, Cream Filled Cake Orange, Cream Filled Cake Chocolate, Mixed Fruit Flavoured Cake, Chocolate Flavoured Sliced Cake, Pluss, Malai Pop, Imly Pop, Coconut Crunch, Kaju Candy, Coffico, Masala Teekha, Salted Chips, Paprika Spices, Tomatina Classic, American Cheese, Gram Gathiya, Gram Chana Jor, Crispy Diet Chidwa, Gram Bhawnagri Sev, Gram Badam Pokora And Gram Masala Muri.
i. Availability of raw materials.
ii. Low wage labour availability.
iii. Good transportation system.
iv. Brand image.
Objects of the Annapurna Swadisht Limited IPO:
Annapurna Swadisht Limited IPO Details:
|Open Date:||Sep 15 2022|
|Close Date:||Sep 19 2022|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Built Issue|
|Issue Size:||30.25 Cr.|
|Lot Size:||2000 Shares|
|Issue Price:||₹ 68 Per Equity Share|
|Listing At:||NSE Emerge|
|Listing Date:||Sep 27 2022|
Promoters And Management:
Financials of Annapurna Swadisht Limited IPO:
|Particulars (in crores)||March 20||March 21||March 22|
|Revenue from operations||13||20||60|
|Cost of Materials Consumed||11||16||46.5|
|Change in Inventories||0.45||-1||-4|
|Employee Benefit Expense||0.45||0.86||2.5|
|Profit (Loss) before tax||0.52||0.79||3.43|
|Profit (Loss) for the period||0.34||0.51||2.4|
|Share After Issue||1.6422||1.6422||1.6422|
|Earnings per share||0.20||0.31||1.46|
Comparison With Peers:
|Name of the Company||CMP||FV||EPS||P/E|
|Annapurna Swadisht Limited||68||10||1.46||46|
|Prataap Snacks Limited||810||5||-2.95||270|
|DFM Foods Limited||361||2||-7.45||-48|
|Britannia Industries Limited||3,685||1||61.14||60.6|
Recommendation on Annapurna Swadisht Limited IPO:
Review and Recommendation of Annapurna Swadisht IPO by IZ Team is 5/10
1. The Company is manufacturer of snacks and food products, namely, Fryums, cakes, candys, namkeen, chips and Gohona Bori. 2. The key raw materials used to make above products include refined flour, palm oil, spices and laminates. 3. Company claims to be one of the largest FMCG player in Eastern India and the fastest growing segment in Fryums, Cakes, Candies, Namkeen and Potato Chips. 4. They have a unique price point of Rs. 5 which makes Annapurna the dominant player in Rural Area. They sell more than 12 Lakh packets of products daily. 5. Company have a hub in Asansol with an constructed area of approx. 50,142 sq. ft. and at Manufacturing unit in Siliguri with an constructed area of approx. 35,000 sq. ft and employs over 235 people. 6. Revenue has increased from 13 Crores in Fy20 to 60 Crores in Fy22. This is excellent growth. 7. PAT has improved from 0.34 Crores in Fy21 to 2.4 Crores in Fy22. Excellent growth in bottomline. 8. IPO is coming at P/E of 46x which looks on higher side.