Dollex Agrotech Limited IPO
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.
i. Jaggery powder
iii. By-Products – Molasses & Bagasse
iv. Press mud
Objects of the Dollex Agrotech Limited IPO:
Dollex Agrotech Limited IPO Details:
|Open Date:||Dec 15 2022|
|Close Date:||Dec 20 2022|
|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:
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|
|Profit (Loss) before tax||2||4||2|
|Profit (Loss) for the period||1||3||1|
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|