Exxaro Tiles Limited IPO
(i) The company is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions. Its business operations are broadly divided into two product categories:
• Double Charge Vitrified Tiles: Double charge vitrified tiles are tiles that are fed through a press which prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles. This process does not permit complex patterns but results in a long-wearing tile surface, suitable for heavy traffic commercial projects.
• Glazed Vitrified Tiles: Glazed vitrified tiles are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives and fired at high temperatures to ensure high strength and low water absorption. These tiles are coated with glaze materials prior to the firing process.
(ii) Some of its key product development highlights include:
1) 3D Effect in Double Charge Vitrified Tiles
2) Replica of Natural Stones in Double Charge Vitrified Tiles
3) High transparent glaze in weight method for glazed vitrified tiles.
(iii) Domestically, it has PAN India presence (27 states) and internationally it supply products in over 13 countries including Poland, UAE, Bosnia etc
(iv) It has two state-of-the-art manufacturing facilities which are located at Padra and Talod respectively in Gujarat. It has a combined installed production capacity of 1,32,00,000 sq. mt. p.a.
Competitive Strengths
(i) Widespread sales and dealers network
(ii) Wide product portfolio
(iii) Experienced management
Objects of the Exxaro Tiles Limited IPO:
Exxaro Tiles Limited IPO Details:
Open Date: | Aug 04 2021 |
Close Date: | Aug 06 2021 |
Total Shares: | 13,424,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book building |
Issue Size: | 160 Cr. |
Lot Size: | 125 Shares |
Issue Price: | ₹ 118 - 120 Per Equity Share |
Listing At: | NSE,BSE |
Listing Date: | Aug 16 2021 |
Promoters And Management:
Financials of Exxaro Tiles Limited IPO:
Particulars (Million) | Mar 21 | Mar 20 | Mar 19 |
Revenue | 2551 | 2407 | 2422 |
Cost of material consumed | 779 | 949 | 836 |
Purchases of Stock | 76 | 70 | 44 |
Change in WIP | -12 | -306 | 70 |
Employee Benefit Expenses | 192 | 265 | 291 |
Other Expenses | 1041 | 999 | 802 |
Operating Profit | 475 | 430 | 379 |
OPM % | 18.6% | 17.80% | 15.6% |
Other Income | 47 | 32 | 17 |
Depreciation & Amortisations | 136 | 142 | 140 |
Financial Cost | 212 | 197 | 178 |
Profit Before Tax | 171 | 121 | 76 |
Net Profit | 152 | 112 | 89 |
NPM% | 5.96% | 4.65% | 3.67% |
EPS | 4.54 | 3.36 | 2.66 |
Comparison With Peers:
Name of the company | 3-year Revenue Growth | 3-year PAT Growth | EBITDA Margin (FY21) | ROE (FY21) | Debt to Equity | P/E | 3 Years Return |
Exxaro Tiles Ltd | 2% | 20% | 19% | 11.88% | 1.05 | NA | NA |
Kajaria Ceramics Ltd | -2% | 11% | 18% | 17.20% | 0.07 | 51.40 | 29.36% |
Asian Granito India Ltd | 3% | 39% | 11% | 10.16% | 0.42 | 10.55 | -15.51% |
Somany Ceramics Ltd | -1% | 8% | 12% | 11.02% | 0.61 | 43.15 | 9.57% |
Orient Bell Ltd | -4% | -8% | 7% | 2.62% | 0.16 | 39.29 | 11.86% |
Murudeshwar Ceramics Ltd | -14% | -34% | 11% | -3.56% | 0.25 | NA | -6.52% |
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