Dollex Agrotech Limited IPO

Apply 0
Avoid 0

i. Dollex Agrotech is engaged in the business of manufacturing & trading sugar with captive power cogeneration capabilities. The promoter, Mr. Mehmood Khan possesses rich experience in the sugar industry of nearly about fifteen years. In 2006, Mr. Mehmood Khan, one of its promoters, participated in a tender floated by Govt. of Maharashtra for a sugar unit on lease at Nanded, Maharashtra, and was allotted the unit for a period of 6 years.

ii. After getting rich experience in the sugar industry, he started mentoring other companies engaged in sugar manufacturing. Thereafter, he decided to set up a sugar manufacturing plant, under the name of the company Dollex Industries Limited’ (BSE listed company) which was later on merged with an unlisted company, ‘Parvati Sweeteners and Power Ltd’, in 2018, and the promoters sold their shareholding in that Company & currently has no control neither by shareholding nor by any managerial rights.

iii. As the production of sugarcane required an ample amount of time, the company started its cane development process since Incorporation. Thereafter, the promoters started gathering resources like plant and machinery, key managerial personnel, etc. for establishing and operating the sugar manufacturing plant till the year 2017.

iv. In the year 2018, the Company then started its operations of Sugar manufacturing, from sugarcane along with co-generation capabilities in Indore, Madhya Pradesh.

v. The company has received in-principle approval from the Department of Food & public distribution from the Government of India for establishing distilleries of 200 KLPD capacity. In addition to sugar, we also produce and sell its byproducts such as mollases, pressmud and bagasse. The bagasse is used to generate power.

Our Products
i. Jaggery powder
ii. Sugar
iii. By-Products – Molasses & Bagasse
iv. Press mud

Objects of the Dollex Agrotech Limited IPO:

The objects of the Issue are:- 1. To meet out the Working Capital requirements of the Company; 2. To meet out the General Corporate Purposes; and 3. To meet out the Issue Expenses.

Dollex Agrotech Limited IPO Details:

Open Date: Dec 15 2022
Close Date: Dec 20 2022
Total Shares: 6,968,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue
Issue Size: 24.39 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 35 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 28 2022

Promoters And Management:

Mr. Mehmood Khan, aged 61 years, is Managing Director of the Company. He appointed as Managing Director of the Company for 5 years w.e.f April 01, 2022. Mr. Mehmood Khan is a businessman with wide experience of 37 years in diversified fields including sugar industry as well as distillation plant and many more. He is a man of sharp business acumen, and it is due to his efforts that the company has reached to this height. He is involved in RS/ Extra Neutral Alcohol/Ethanol and sugar business for Since last 26 years. Under his stewardship, company has grown manifold. Mrs. Munni Bee, aged 57 years, is the Whole Time Director of the Company. She has been appointed as Whole Time Director on 11/07/2022. Her Educational qualifications is up to higher secondary. She was a former promoter Director of an entity listed on Bombay Stock Exchange named as a Dollex Industries Ltd. and later on merge with Parvati Sweeteners and Power Ltd. and now trading on BSE main board. Mr. Khusro Nisar, aged 46 years, is the non-executive director of the Company. He has been appointed as nonexecutive director since April 25, 2022. By education, he is a graduate and has done his post graduation in international business. He has a decade long experiencing in media distribution such as Star India Pvt. Ltd. and Sony Pictures Pvt. Ltd. He has played a pivotal role in the launch, placement monetisation of various media channels in Madhya Pradesh. Since 2015, he has ventured in the business of Govt. supply and has a proven track record of manufacturing and supplying more than 15 products from his manufacturing unit in Dhar (Madhya Pradesh). He has experience and proven track record in client servicing, profit centre management and innovation.

Financials of Dollex Agrotech Limited IPO:

Particulars (in crores) 30/07/2022 31/03/2022 31.03.2021
Revenue from operations 8 79 77
Cost of material Consumed 0 44 42
Purchases of stock-in-trade 0 19 33
Changes in Inventories 4 2 -10
Employee Benifit Expense 0.2 1 2
Other Expense 0.2 2 3
Operating Profit 3.6 11 7
OPM% 45.00% 13.92% 9.09%
Finance Cost 0.6 2 2
Depreciation 0.5 2 2
Other Income 0.02 0.2 0.2
Profit (Loss) before tax 2 4 2
Profit (Loss) for the period 1 3 1
EPS 0.76 1.63 0.84

Comparison With Peers:

Name of the company Revenue Profit EPS P/E CMP MCap(in cr)
Dollex Agrotech Limited 77 1 0.84 41.6 35 70
Bajaj Hindusthan Sugar Ltd. 5,576 -268 -2.09 -7.5 15.7 2,008
Rana Sugars Ltd 1,400 85 5.55 7.07 24 366
Vishwaraj Sugar Industries Ltd. 467 60 3.2 6.29 17.3 325

Lead Manager of Dollex Agrotech Limited IPO:

  1. Expert Global Consultants Private Limited

Registrar of Dollex Agrotech Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Dollex Agrotech Limited 205, Naroli Arcade 19/1, Manorama Ganj, Palasia Square Indore, Madhya Pradesh – 452001 Phone: +91 731 2495505 Email: Website

Discussion on Dollex Agrotech Limited IPO:

Leave a Reply