Balaji Solutions Limited IPO
i. Balaji Solutions is an IT hardware & peripherals and mobile accessories company engaged in the business of
(i) manufacturing and branding of products under the flagship brand i.e. “Foxin” (“Foxin Products”);
(ii) original equipment manufacturers (“OEMs”) ranging from sourcing of components, designing, manufacturing, quality testing as per the specifications provided by certain brand owners; and
(iii) distribution of various IT hardware & peripherals, mobile accessories, consumables and surveillance products of certain brand owners.
ii. Over the years they have been able to build its presence in India through a wide range of quality consumer products at affordable prices and through their dealer channels in the electronic industry.
iii. The company currently classify its business under the following 3 (three) verticals:
Manufacturing: They carry out the business of manufacturing of products under its flagship brand “Foxin” such as. These includes the following:
i. mobile accessories (USB data cables, power bank, mobile chargers),
ii. hearables and audio products (earphones, true wireless stereo (“TWS”), headphone and neckband) etc.,
Branding: They carry out the business of marketing and selling of their products which are manufactured and sourced from third parties across India under its flagship brand “Foxin”. These include the following:
i. hearables and audio products (multi-media bluetooth speakers, TWS, tower speakers, portable speakers, headphones and gaming headphones).
ii. IT hardware & peripherals (monitor, CPU cabinets, keyboards (wired and wireless), gaming keyboards (wired
Distribution: They carry out the business of distribution of IT hardware & peripherals, mobile accessories, consumables, surveillance products etc., for certain brand owners.
iv. The comapny has sold its products in 28 states and 5 union territories through a network of 3,726 dealers of which 1,873 dealers specifically deal in its Foxin Products. As of 2022 they had 27 branch offices (some of which are also used as warehouses and service centres) in India which are supported by a sales team of 248 employees, who are responsible for managing their sales and dealer channels.
v. Competitive Strengths
i. Established presence with over two decades of operations in the electronic industry.
ii. Diversified business vertical with wide range of product portfolio and consistent focus on quality
iii. Established distribution network and long term relationship with the customers
Objects of the Balaji Solutions Limited IPO:
Balaji Solutions Limited IPO Details:
Promoters And Management:
Financials of Balaji Solutions Limited IPO:
|Particulares ( In Crore )||2022||2021||2020|
|Revenue From Operations||482||483||452|
|Cost of Material Comsumed||15||22||6|
|Change in Inventories||8||-16||21|
|Purchase of traded goods||393||413||385|
|Employees Benefit Expenses||25||22||17|
|Sales & Marketing Expenses||3||4||2|
|Operating and Administrative Exp.||10||13||8|
|No. of Shares||6||6||6|
Comparison With Peers:
As Per DRHP there is no listed peers.
Recommendation on Balaji Solutions Limited IPO:
To be updated once Balaji Solutions files for RHP.