Cosmic CRF Limited IPO

Apply 0
Avoid 0

i. Cosmic CRF is a qualified and an RDSO approved supplier of cold rolled stainless sections to renowned wagon manufactures such as, Titagarh Wagons Limited, Hindusthan Engineering & Industries Limited, Melbrow Engineering Works Private Limited, Jindal Rail Infrastructure Limited, Allied Construction Engineers & Fabricators, etc.

ii. Their product portfolio largely consists of cold rolled stainless sections, such as fabricated items for railway, coach & wagons, cold rolled formed items for wagons and coaches, cold rolled formed items for infra companies and EPC projects and products for roadways and national highway.

iii. They have also entered into the field of manufacturing and marketing cold rolled stainless sections which are customisable in nature and which are built with a solution oriented technique to suit the varying needs of our customers, such as CRF Section for bogie covered fly cement wagon and bogie open high sided with air breaks axle load wagon to run faster and made specially to be used in the dedicated freight corridor.

Competitive Strengths

i. A reputed private sector manufacturer of cold rolled stainless sections in India.
ii. Long term sourcing arrangements for components.
iii. Strong focus on innovation
iv. Effective Cost Control Management

Objects of the Cosmic CRF Limited IPO:

The company intends to utilize the Net Proceeds from the Issue towards the following objects: 1. Funding the expansion of existing manufacturing unit; 2. Funding of working capital requirement; 3. Prepayment or repayment of all or a portion of certain unsecured loans; and 4. General Corporate Purposes.

Cosmic CRF Limited IPO Details:

Open Date: Jun 14 2023
Close Date: Jun 21 2023
Total Shares: 1,822,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 60.13 Cr.
Lot Size: 400 Shares
Issue Price: ₹ 314-330 Per Equity Share
Listing At: BSE SME
Listing Date: Jun 29 2023

Promoters And Management:

Aditya Vikram Birla, aged 33 years, is the Promoter and Managing Director of the Company. He holds a bachelor's degree in business administration from Jadavpur University, Kolkata and a post-graduate diploma in business management from Cardiff University, United Kingdom. He has an experience of more than a decade in manufacturing of cold rolled components, spares and components for railways and wagon industry and in the areas of business development, management, finance and administration. He has been associated with the Company since 2022 and oversees the manufacturing division of the Company and also supervises the entire operations of the Company. Purvi Birla, aged 34 years, is the Whole-time Director of the Company. She holds a bachelor’s degree in business administration from Jadavpur University, Kolkata. She has an experience of more than five years in the area of business development and administration. She oversees the business development of the Company. Pawan Kumar Tibrewalla, aged 62 years, is the Non-Executive Director of the Company. He holds a bachelor’s degree in commerce from St. Xavier’s College, Kolkata and is a fellow member of the Institute of Chartered Accountants of India. He has experience of more than three decades in the field of taxation, accounting, audit, finance and banking. He has worked with various private and public section organisations. He has been associated with the Company since incorporation.

Financials of Cosmic CRF Limited IPO:

A. Balance Sheet
Particular (In Lakhs) Mar-22 Mar-23
Equity Share Capital 885.70 1,000.00
Reserves -12 629
Borrowings 672 3,151
Trade Payables 6 1,894
Other Liabilities 53 200
Total Liabilities 731 5,246
Net Block 4 4,147
Capital Work in Progress 0 1
Other Assets 1,527 9
Total NC Assets 1,531 4,156
Receivables 0 583
Inventory 0 1,952
Cash & Bank 45 30
Other Assets 29 153
Face value 10 10
B. Profit & Loss Statement
Particular (In Lakhs) Mar-22 Mar-23
Sales 0 12,149
Raw Material Cost 0 10,813
Change in Inventory 0 -471
Other Mfr. Exp 0 157
Employee Cost 3 253
Other Expenses 13 183
Other Income 0 0.4
Depreciation 0 86
Interest 0 260
Profit before tax -16 868
Tax -4 227
Net profit -12 641
C. Cash Flow Statement
Particular (In Lakhs) Mar-22 Mar-23
Cash From Operating Activity
Profit From Operation -16 1,214
Receivable 0 -583
Inventory 0 -1,952
Payable 6 1,888
Loans And Advances -7 -1
Other WC Items 24 -5
Working Capital Changes 23 -654
Direct Taxes 0 195
Net Cash Inflow from Operating Activity 7 365
Cash from Investing Activity
Fixed assets purchased -4 -4,229
Other investing items -1,515 1,515
Net cash inflow from investing activities -1,519 -2,715
Cash from Financing Activity
Proceeds from shares 886 114
Proceeds from borrowings 672 2,480
Intrest paid fin 0 -260
Net Cash Flow 45 -15

Comparison With Peers:

* There are no listed companies in India that are comparable in all aspects of business and services that they provide.

Recommendation on Cosmic CRF Limited IPO:

Review and Recommendation of Cosmic CRF Limited by IZ team is 4/10 1️⃣ Cosmic CRF Limited, incorporated in Dec 2021, is a public limited company with a focus on manufacturing and supplying cold-rolled stainless sections. 2️⃣ The company acquired the CRF unit of Cosmic Ferro Alloys Limited, expanding its manufacturing capabilities and product portfolio. 3️⃣ They are a qualified and RDSO approved supplier of cold-rolled stainless sections to renowned wagon manufacturers, railways, and infrastructure projects. 4️⃣ With an impressive order book of ₹53,640.82 lakhs, the company has executed orders worth ₹13,566.33 lakhs and has ongoing orders worth ₹40,074.48 lakhs. 5️⃣ Innovation is key! Their R&D Division develops new products, conducts trials, and ensures compliance with customer quality requirements and regulatory standards. 6️⃣ Quality control is a top priority. The company's manufacturing unit has a dedicated division that conducts tests at every stage of production, adhering to domestic and international standards. 7️⃣ Stellar financial performance from Fiscal Year 2023: Revenues of ₹12,148.90 lakhs, EBITDA of ₹1,214.07 lakhs, and a profit after tax of ₹641.20 lakhs. 8️⃣ Cosmic CRF Limited aims to be an industry leader by offering cost-effective and customized solutions, meeting standardized quality requirements. 9️⃣ With a strong commitment to customer satisfaction and growth, they strive to expand their customer base and deliver excellence in all aspects of their business operations However, the IPO is priced at P/E of 35x valuation looks high.

Lead Manager of Cosmic CRF Limited IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Cosmic CRF Limited IPO:

  1. MAS Services limted

Company Address:

Cosmic CRF Limited 19, Monohar Pukur Road, Kolkata 700 029 Phone: +91 810 086 2182 Email: Website:

Discussion on Cosmic CRF Limited IPO:

Leave a Reply