C P S Shapers Limited IPO

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i. C P S Shapers Limited is engaged in the business of manufacturing of Shapewear for Men and Women like V-Shaper, Saree Shapewear, Active Pants, ShapeX Denim, etc.

ii. C P S Shapers is popularly known and identified in apparel market by the brand name “Dermawear” with the motto “Shape up with Confidence” and “YDIS” (“Your Dress Is Shapewear”). They distribute their products both, by e-retail and offline model, and have developed a sustainable business model over the period.

iii. Their compression garments fabric is specially designed from skin friendly blend of cotton, polyester and spandex which are double and triple layered for graduated compression effect at body critical areas like abdomen, hips and thighs. They aspire to keep improving the services and the products, backed with innovative new technologies to provide a great experience to the customers.

iv. Their product mix has evolved over the past several years as they have entered into new product categories. Their product portfolio currently includes Saree Shapewear, Mini Shaper, Sports Bra, All Mini Corset, Tummy Reducer, All Zenrik, Slimmer, Active Pants, Denim, Mask and other Shapewears. The company believes its comprehensive range of products enables them to capitalize on growth opportunities and increasing demand of the industry.

v. Their products are sold both, domestically and internationally. They have PAN India presence with the distributors network in 28 states and 8 Union territories for our domestic market (based on sales made for the financial year ended March 31, 2023, 2022 and 2021). They have also started their export division and are supplying products to 5 countries namely Canada, Germany, Australia, United Kingdom, United States of America based on sales made for the financial year ended March 31, 2023.

vi. They follow offline distribution model for sale of the products and have distributors spread across the country who in turn sell their products through various retailers. They also follow online sales model for supply of their products and their products are registered on various online platforms such as Amazon, Ajio, Flipkart, Myntra, Nykaa Fashion, Nykaa Retail, Snapdeal and through our own website, www.dermawear.co.in

Competitive Strengths

i. Customer base across geographies
ii. E-retailing and online distribution network
iii. Product Portfolio.
iv. Brand Equity.

Objects of the C P S Shapers Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Purchase of Plant and Machinery at existing Manufacturing facility. ii. Purchase of Commercial Vehicle. iii. Funding of capital expenditure requirements of the company towards the purchase of Solar Power Systems. iv. Upgradation of existing IT Software at our existing manufacturing facility and registered office. v. Repayment or prepayment, in full or in part, of borrowings availed by our Company from banks and financial institutions. vi. Funding Working Capital Requirements of the company. vii. General corporate purposes.
DRHP of C P S Shapers Limited IPO
RHP of C P S Shapers Limited IPO

C P S Shapers Limited IPO Details:

Open Date: Aug 29 2023
Close Date: Aug 31 2023
Total Shares: 600,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 11.10 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 185 Per Equity Share
Listing At: NSE Emerge
Listing Date: Sep 08 2023

Promoters And Management:

Mr. Abhishek Kamal Kumar, aged 42 years is the Promoter, Chairman and Managing Director of the Company. He has completed his Bachelor’s Degree in Computer Applications from Indira Gandhi National Open University in the year 2001. He also holds Advance Certificate in Export Management from Foreign Trade Development Centre. He has also taken formal training under full import clearance procedure and documentation from Reliance Cargo. He has around 15 years of experience in the same industry in which we operate. He has been associated with the Company since incorporation and was redesignated as Chairman and Managing Director w.e.f. July 07, 2023 for a period of 5 years. He looks after the management and operations of the company and is involved in bringing about innovation in the operations and products of the Company. He is responsible for the entire management and administration of the Company and brings about innovation through creation of new capacities, development of products, exploring and evaluating ways of penetrating existing markets and developing new markets in India and abroad. Ms. Bhawna Kumar, aged 42 years, is the Whole Time Director of the Company. She has completed Bachelor Art in the year 2000 and Master of Art in the year 2002 from CH. Charan Singh University Meerut. She is currently responsible for looking after the Human Resource department of the Company. She holds an experience of around 11 years in the same industry. Mr. Rajendra Kumar, aged 75 years is the Promoter and Non-Executive Director of the Company. He has completed Bachelors of Science from Kanpur University, in the year 1970. He has around 15 years of experience in the industry in which we operate. He has been associated with the Company since incorporation as a founder member and has been instrumental in extensive R&D and development of new products. He was redesignated as Non- Executive Director w.e.f July 07, 2023.

Financials of C P S Shapers Limited IPO:

Pariculares ( In Lakhs )
2021
2022
2023
Revenue from Operations 1,439 2,668 3,681
Other Income 3 0.5 15
Total Revenue 1,442 2,669 3,696
Cost of Material Consumed 469 1,259 1,916
Change in Inventories 78 50 -402
Employee Benefits Expense 361 555 693
Other Expenses 361 565 994
EBITDA 174 240 496
Depreciation & Amortisation 31 31 52
Finance Cost 106 86 99
EBIT 143 209 444
OPM (%) 12.04% 8.98% 13.42%
PBT 37 123 345
Tax -1.4 -34 99
PAT 38 157 246
NPM (%) 2.64% 5.88% 6.66%
No.of Shares 21 21 21
EPS 1.81 7.47 11.71

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
C P S Shapers Limited 37 2 11.71 15.78 185 39
Page Industries Limited 4,789 571 512.15 83.6 39,150 43,652
Lux Industries Limited 2,379 137 47.23 42.6 1,453 4,368
Dollar Industries Ltd 1,394 58 10.27 52.5 412 2,337
K.P.R Mill Limited 6,186 814 23.82 30.2 699 23,893
Arvind Limited 8,382 413 15.47 13.5 166 4,340
* All the data is as per FY23.

Recommendation on C P S Shapers Limited IPO:

Review and Recommendation of CPS Shapers SME IPO by IZ team is 5/10 Read Review Here

Lead Manager of C P S Shapers Limited IPO:

  1. SHRENI SHARES PRIVATE LIMITED

Registrar of C P S Shapers Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

C P S Shapers Limited 201-204, 2nd Floor, Swamini Industrial Estate No 3 Opp. Varun Industries, Nanal Nagar, Waliv, Vasai East, Palghar – 401 208 Phone: +91 9084735560 Email: investor@dermawear.co.in Website: https://www.cpsshapersltd.com/

Discussion on C P S Shapers Limited IPO:

1 Comment

    What does the Company do?

    Shapewear is a type of undergarment designed to temporarily alter the body shape and achieve a more streamlined silhouette. Made from stretchable, compressive fabric, shapewear can be found in various styles including bodysuits, control panties, waist cinchers, and thigh shapers, among others. The primary function is to tuck in problem areas such as the tummy, hip, and thighs, giving the appearance of a more toned and shapely figure.

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