Bizotic Commercial Limited IPO
i. Bizotic Commercial engaged into the business of manufacturing, designing and marketing of readymade garments offering diverse range of men’s Formal Wear, Casual Wear, Party Wear, Fit Wear, Sports Wear, Comfort Wear, Ethnic Wear, Winter Wear. They serve their customers through the channels of retail stores and e-commerce.
ii. Their garment manufacturing process includes cutting, stitching, sewing, finishing, inspection and packing. They outsource the entire garments manufacturing on job work basis from third party contractors from time to time and provides the technical specifications such as designs, pattern, quality, fabric etc. to them who, based on their specifications, procure the requisite raw materials at their own costs and begin the manufacturing process.
iii. The company opened their first outlet in the Financial Year 2017-2018, on their own brand name “URBAN UNITED” in Ajmer, Rajasthan. From 2017 to 2020, they have opened approx 40 outlets on franchisee basis in Rajasthan and Haryana Only.
iv. All their showrooms are located at prime locations in different cities of Rajasthan and Bihar. Currently, they have 20 stores in different cities of Rajasthan and 1 in Bihar on ongoing business out of which, 17 stores are on franchisee basis and 4 stores are owned by Company, itself.
v. The company owned 4 Stores are located at Jaipur, Jodhpur, Bhilwada and Chittorgarh in Rajasthan.
vi. Company’s all products are sold under their brand name “URBAN UNITED” through its exclusive stores/outlet either own or on franchisee.
vii. In Franchisee Model, they enter into agreement with the franchisee with varied date of commencement to sell their products at showroom as per the terms and conditions like showrooms must be on its brand name only and all the product in the showroom must be their brand product only. The company receive one-time interest free refundable security deposit from franchisee which is refundable on the termination of the agreement. All the staff must wear uniform of their Brand in all its showrooms. The design and space of the showroom is also decided by the Company person only. Theri Franchisee Stores are working from morning 10:30 to evening 09:30 and our own stores are working from morning 10:30 to late evening 10:30 to 11:00
viii. At present, the Company is primarily involved in designing, branding and retailing men’s apparels under the brand ‘URBAN UNITED’. Their product line consists of:
• Casual Wear • Formal Wear • Club Wear • Comfort Wear • Winter Wear • Ethnic Wear • Party Wear • Fit Wear • Sports Wear • Accessories
ix. Company’s owned Showrooms:
• Jaipur • Jodhpur • Chittorgarh • Bhilwada Our Franchisee Showrooms: • Bikaner • Kota • Udaipur • Hajipur, Bihar • Chomu • Sanganer • Navalgarh • Vidyadyadhar nagar • Shrimadhopur • Sikkar • Sumerpur Pali
Competitive Strength
i. Designing Capabilities
ii. Experienced management Team
iii. Established Marketing Setup and Diversified Customer Base
iv. Distribution Network
Objects of the Bizotic Commercial Limited IPO:
Bizotic Commercial Limited IPO Details:
Open Date: | Jun 12 2023 |
Close Date: | Jun 15 2023 |
Total Shares: | 2,412,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Fixed Price Issue IPO |
Issue Size: | 42.21 Cr. |
Lot Size: | 800 Shares |
Issue Price: | ₹ 175 Per Equity Share |
Listing At: | BSE SME |
Listing Date: | Jun 23 2023 |
Promoters And Management:
Financials of Bizotic Commercial Limited IPO:
Particular (In Lakhs) | Mar-20 | Mar-21 | Mar-22 | 9MFY23 |
Equity Share Capital | 1.00 | 1.00 | 1.00 | 562.80 |
Reserves | 29 | 63 | 122 | 303 |
Borrowings | 76 | 84 | 256 | 369 |
Trade Payables | 782 | 1,317 | 2,933 | 2,073 |
Other Liabilities | 214 | 432 | 426 | 665 |
Total Liabilities | 1,073 | 1,834 | 3,615 | 3,107 |
Net Block | 37 | 30 | 57 | 87 |
Other Assets | 41 | 36 | 68 | 106 |
Total NC Assets | 79 | 66 | 125 | 193 |
Receivables | 456 | 951 | 2,120 | 1,345 |
Inventory | 422 | 740 | 1,284 | 2,163 |
Cash & Bank | 11 | 2 | 10 | 67 |
Other Assets | 173 | 168 | 256 | 292 |
Face value | 10 | 10 | 10 | 10 |
Particular (In Lakhs) | Mar-20 | Mar-21 | Mar-22 | Mar-23 |
Sales | 1,114 | 1,680 | 5,341 | 4,998 |
Purchases of Stock In Trade | 1,134 | 1,709 | 5,331 | 5,131 |
Change in Inventory | -261 | -319 | -543 | -1,173 |
Employee Cost | 28 | 27 | 91 | 120 |
Other Expenses | 182 | 194 | 372 | 324 |
Other Income | 0 | 0 | 1 | 2 |
Depreciation | 6 | 13 | 10 | 26 |
Interest | 3 | 8 | 1 | 32 |
Profit before tax | 23 | 48 | 81 | 540 |
Tax | 6 | 14 | 21 | 152 |
Net profit | 16 | 34 | 60 | 387 |
Particular (In Lakhs) | Mar-20 | Mar-21 | Mar-22 | 9MFY23 |
Cash From Operating Activity | ||||
Profit From Operation | 31 | 69 | 92 | 448 |
Receivable | -169 | -496 | -1169 | 775 |
Inventory | -261 | -319 | -543 | -880 |
Payable | 288 | 536 | 1616 | -860 |
Loans And Advances | -171 | 3 | -89 | -35 |
Other WC Items | 2 | 20 | -17 | 262 |
Working Capital Changes | -310 | -255 | -202 | -738 |
Direct Taxes | 6 | 14 | 22 | 117 |
Net Cash Inflow from Operating Activity | -285 | -200 | -132 | -407 |
Cash from Investing Activity | ||||
Fixed assets purchased | -41 | -5 | -37 | -49 |
Other investing items | 200 | 197 | 7 | -27 |
Net cash inflow from investing activities | 160 | 192 | -30 | -77 |
Cash from Financing Activity | ||||
Proceeds from shares | 0 | 0 | 0 | 452 |
Proceeds from borrowings | 76 | 8 | 172 | 0 |
Repayment of borrowings | 3 | 0 | 0 | 202 |
Intrest paid fin | -3 | -8 | -1 | -24 |
Net Cash Flow | -55 | -9 | 8 | 57 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Bizotic Commercial Limited | 50 | 3.9 | 4.81 | 36.35 | 175 | 140.7 |
Trent Limited | 8242 | 394 | 12.51 | 191.0 | 1593 | 56652 |
Bella Casa Fashion and Retail Limited | 202 | 8 | 6.76 | 19.2 | 130 | 149 |
Lorenzini Apparels Limited | 43.76 | 2.52 | 2.49 | 89.4 | 219 | 225 |
Recommendation on Bizotic Commercial Limited IPO:
Lead Manager of Bizotic Commercial Limited IPO:
Registrar of Bizotic Commercial Limited IPO:
Company Address:
Discussion on Bizotic Commercial Limited IPO:
2 Comments
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Business operates in the highly competitive environment. So, you can skip this IPO.
The profit in Fy22-23 looks cooked.