Blue Pebble Limited IPO

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The business overview effectively communicates the comprehensive range of design, printing, and fabrication solutions their company provides. The detailed account showcases a robust operation anchored in Mumbai with extensive capabilities to serve a broad spectrum of client needs across various regions of India.

The inclusion of a dedicated design studio and printing facility underscores the integrated approach the company takes to manage projects from conceptualization through to final delivery. This holistic service offering, which spans theme-based designs to large format and fabric printing, as well as signage manufacturing and 3D art installation, positions your company as a versatile player in the design and printing industry. Specializing in both aesthetic and functional aspects of workspace enhancement demonstrates a deep understanding of how environment impacts corporate culture and values.

Recognition through awards in architecture & interior design, and being named as the Most Creative & Innovative Design Agency and India’s Best Design Studio, further establishes the company’s reputation for excellence and innovation in the field. These accolades not only reflect your company’s commitment to quality but also serve as a testament to its creative and innovative capabilities.

Their successful completion of over 20 projects in the last three years, coupled with a substantial current order book value, illustrates a proven track record of execution and client satisfaction. This, combined with the engagement of artisans and artists for custom artwork, indicates a commitment to delivering uniquely tailored and aesthetically pleasing work environments.

Their operational footprint, extending beyond Mumbai to regions such as Delhi, Maharashtra, Gujarat, and others, showcases a strategic expansion that taps into diverse market needs across India. The tailored pricing strategy, which considers project-specific factors such as duration, raw materials, and manpower requirements, demonstrates a client-centric approach that ensures competitive and fair pricing for services rendered.

In summary, the company presents itself as a leader in the design, printing, and fabrication domain, distinguished by its comprehensive service offerings, commitment to quality and innovation, and strategic leadership. Their ability to deliver customized, aesthetically pleasing solutions across a wide geographical area positions them for continued success and growth in the industry.

Objects of the Blue Pebble Limited IPO:

The company intends to utilize the proceeds of the Issue to meet the following objects: i. Funding Capital Expenditure towards the installation of additional machinery; ii. To meet working capital requirements; and iii. General Corporate Purpose.
DRHP of Blue Pebble Limited IPO
RHP of Blue Pebble Limited IPO

Blue Pebble Limited IPO Details:

Open Date: Mar 26 2024
Close Date: Mar 28 2024
Total Shares: 1,080,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 18.14 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 159 - 168 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 03 2024

Promoters And Management:

Nalin Gagrani, aged 55 is the Promoter, Chairman & Managing Director of the Company. He has been on the board since incorporation. He has completed his Bachelor of Engineering in mechanical engineering from Sardar Vallabh Bhai Patel Regional College of Engineering and technology, Surat. He has also completed his Master of Management Studies from Narsee Monjee Institute of Management Studies, Mumbai. He has an overall work experience of around 30 years in the Marketing, Business Development, Corporate interior and work space designing. 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 including formulation of policies for the business development. Under his guidance the Company has witnessed continuous growth. Manoj Bhushan Tiwari, aged 56 is the Promoter, Whole Time Director of the Company. He is also appointed as Chief Financial Officer of the Company w.e.f October 26, 2023. He has completed his Bachelor of Science in Chemistry from DG Ruparel College of Arts and Science, Mumbai. He has work experience of around 30 years in printing and designing industry. He has been entrusted with the responsibility to handle the finance, accounts, printing and design and HR & Admin department of the Company. Karuna Nalin Gagrani, aged 54 is the Non-Executive Director of the Company. She has been on the board since incorporation of the Company. She has completed her Bachelor of engineering in Computer Science from Gulbarga University in 1991. She has an overall experience of around 25 years in design & technology and business development.

Financials of Blue Pebble Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
6M-FY24
Revenue from Operations 421 548 1,592 1,318
Other Income 0 0.3 2 5
Total Revenue 421 548 1,595 1,323
Purchase cost 193 264 1,005 558
Changes in inventory 22 6 -100 89
Direct Expense 22 28 90 79
Employees Benefit Expenses 76 104 196 119
Other Expenses 74 91 122 82
EBITDA 34 55 281 395
Depreciation & Amortisation 7 4 9 7
EBIT 27 51 273 389
OPM (%) 7.96% 10.08% 17.63% 29.88%
PBT 27 51 273 389
Tax 7 13 72 97
PAT 20 38 200 292
NPM (%) 4.76% 6.94% 12.56% 22.06%
No.of Shares 40.80 40.80 40.80 40.80
EPS 0.49 0.93 4.91 7.15

Comparison With Peers:

Notes :- There are no listed companies in India that are engaged in the business line similar to this company.

Recommendation on Blue Pebble Limited IPO:

Review and Recommendation of Blue Pebble by team IZ is 4/10. 1. The company has rapidly evolved into a leading provider of spatial design and bespoke environmental branding solutions. Specializing in the conceptualization, design, printing, furnishing, and installation of a wide array of products including vinyl graphics, signage, and various furnishing items, they aim to transform corporate interiors and exteriors into spaces that reflect their clients' brand identity and values. Their comprehensive service offerings are meticulously tailored to meet the unique requirements of each client, ensuring a personalized experience that spans various industry sectors such as banking, IT, and multinational corporations. 2. Their Diverse Clientele With a rich portfolio that boasts of collaborations with esteemed organizations like Infosys Limited, HDFC Bank Limited, American Express, and Moody's among others, their company takes pride in its ability to forge long-term relationships. 3. Comprehensive Service Offerings Operating from their design studio and printing facility in Mumbai, they offer a vast range of services including large format and vinyl printing, canvas printing, fabrication of signage, and 3D art installations. Their expertise also encompasses the sourcing and installation of sculptures, curios, and artisanal hand paintings, further diversifying their portfolio. Their  solutions are aimed at not only beautifying spaces but also improving their functionality and efficiency through well-thought-out designs and signage systems. 4. Portfolio Highlights i. Environmental Branding                                   ii. Graphics and Signage iii. Wall Arts and 3D Installations                      iv. Soft Furnishings and Design Consultancy v. Execution Capabilities and Growth Strategies 5. Competitive Landscape The competitive arena of their industry is marked by the presence of both organized and unorganized players. Despite the lack of entry barriers and the prospect of growing competition, their company stands out for its unparalleled service quality, reputation, and the ability to maintain strong client relationships. These factors, combined with their commitment to excellence, position them as a formidable competitor in the market. 6. The Revenue has Increased from Rs.4 Crore in FY21 to Rs.15 Crore in FY23. 7. The EBITDA has Increased from 34 Lakhs in FY21 to 3 Crore in FY23. 8. The PAT has Increased from 20 Lakhs in FY21 to 2 Crore in FY23. 9. As per FY23, CFO/EBITDA is 1.00, As per FY24, EPS is 14.30, 10. Market Capitalization is 69 Crore & P/E is 11.74x based on FY24.

Lead Manager of Blue Pebble Limited IPO:

  1. Hem Securities Limited

Registrar of Blue Pebble Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Blue Pebble Limited B-1201, Titanium Towers, Opp. Star Bazar, Nr. D N Nagar Metro Station, Andheri West, Mumbai - 400053 Phone: +91- 9820132955 Email: info@bluepebble.in Website: http://www.bluepebble.in/

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