Emerald Tyre Manufacturers Limited IPO

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Emerald Tyre Manufacturers Limited specializes in the manufacturing, supplying, and servicing of a wide range of tyres designed for material handling applications. These include:

i. Industrial and Specialized Equipment: Forklifts, skid loaders, mining equipment, aerial work platforms, and backhoe loaders.
ii. Agricultural and Lawn Equipment: Agri implements and lawn mowers.
iii. Port and Aviation: Ground support equipment for airports and port trailers.

The company operates under its established brand name “GRECKSTER”, which is recognized in both the domestic and global markets.

Market Position

Emerald Tyre Manufacturers has established a strong foothold in the off-highway tyre industry, leveraging its:
i. Strategic Focus: Emphasis on exports, multi-size product range, and diversification of markets.
ii. Quality Products: Comprehensive portfolio catering to diverse industrial and agricultural needs.
iii. Global Presence: More than two decades of recognition in international markets.

Conclusion

Emerald Tyre Manufacturers Limited is a renowned player in the off-highway tyre industry, with a well-established brand, modern manufacturing facilities, and a strong global presence. Its robust leadership and strategic focus on exports and product diversification ensure sustained growth and resilience in a competitive market.

Objects of the Emerald Tyre Manufacturers Limited IPO:

The Company proposes to utilize the funds which are being raised towards funding the following objects: i. To meet the Capital Expenditure ii. To meet General Corporate Purposes iii. To meet Offer Expenses. Total number of shares issue: - i. Fresh issue is 4,986,000 shares, ii. Offer for sale is 199,200 shares.
DRHP of Emerald Tyre Manufacturers Limited IPO
RHP of Emerald Tyre Manufacturers Limited IPO

Emerald Tyre Manufacturers Limited IPO Details:

Open Date: Dec 05 2024
Close Date: Dec 09 2024
Total Shares: 5,185,200
Face Value: ₹ 10 Per Equity Share
Issue Size: 49.26 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 90 - 95 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 12 2024

Promoters And Management:

Chandrasekharan Thirupathi Venkatachalam, Chairman and Managing Director, has over two decades of experience in the industry. A founding member of the company, he drives engineering and technology initiatives, oversees quality improvement, and plays a key role in purchasing, innovation, and process reengineering. He also completed the Production Management Program by AOTS Japan. Eswara Krishnan D, Whole-time Director, holds a science degree from the University of Madras and multiple postgraduate diplomas in business, personnel management, industrial relations, and financial management. With over two decades of experience in marketing industrial tyres, he has been with the company since 2002, building a strong marketing team and leading marketing operations to promote the company's products. Krishna Moorthy Subramonia Iyer, Independent Director, is a member of ICAI with over two decades of expertise in statutory audits, taxation, appeals, and transfer pricing. His proficiency in regulatory frameworks, legal drafting, and direct and indirect taxation enhances the company’s governance and financial operations, making him an invaluable asset.

Financials of Emerald Tyre Manufacturers Limited IPO:

(In Cr.)
Particulars 31st July 2024 FY 2023-24 FY 2022-23 FY 2021-22
Revenue 63.80 170.98 163.93 133.64
EBITDA 9.69  29.57 21.03 15.65
EBITDA Margin 15.19% 17.29% 12.83% 11.71%
PAT 4.14 12.14 8.93 4.85
PAT Margins 6.49% 7.10% 5.45% 3.63%
CFOA(OCF) 0.33 (3.79) (2.05) (0.22)

Comparison With Peers:

Companies Revenue EBITDA PAT D/E Ratio MCap P/E
Emerald Tyre Manufacturers       (FY 2024) 170.98 Cr. 29.57 Cr. (17.29%) 12.14 Cr. (7.10%) 1.51 185 Cr. 15.24
Balkrishna Industries Limited (TTM) 10,091 Cr. 2,465 Cr. (24%) 1,629 Cr. (16.14%) 0.33 54,358 Cr. 33.40
TVS Srichakra Limited (TTM) 3117 Cr. 259 Cr. (8%) 65 Cr. (2.08%) 0.81 2,907 Cr. 42

Recommendation on Emerald Tyre Manufacturers Limited IPO:

Review and Recommendation of Emerald Tyre Manufacturers Ltd. IPO by team IZ is 3/10.
 

Lead Manager of Emerald Tyre Manufacturers Limited IPO:

  1. GYR CAPITAL ADVISORS PRIVATE LIMITED

Registrar of Emerald Tyre Manufacturers Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Emerald Tyre Manufacturers Limited Emerald House, Plot No.2 Second Street, Porur Gardens, Phase-I, Vanagaram, Tiruvallur, Poonamallee, 600095 Phone: 9043063194 Email: cosec@emeraldtyres.com Website: https://emeraldtyres.com/about-emerald/

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